Bangkok Overall Figures Q3 2024

Residential: The overall condominium market saw just 2,132 units launched this quarter. A notable drop of 69.7% Q-o-Q and 71.7% Y-o-Y. The downtown market has seen the trend new projects launched that offer a low number of units continue. 
Office: With no new supply and positive net take up this quarter, occupancy increased to 81.8%. Only rents in Grade A+ buildings increased as take up in these buildings improved. Overall market activity is still quite limited and concentrated in the best buildings.
Retail: The retail market activities in Bangkok were a little more subdued in Q3 2023, exhibiting similar trends towards the end of the last quarter. CCI fell to 55.3 in September 2024 (latest available data), marking the seventh consecutive period of weakening sentiment.
Hotel: Hotel performance improved in all key indicators to entering high season in the next quarter. ADR and RevPAR continued to exceed 2019 and 2023 levels. In the first nine months of 2024, tourist arrivals have already demonstrated significant growth and expected to continue their upward trend.
Industrial & Logistics: Industrial market is continuing to benefit from positive momentum, fuelled by a surge in the demand of SILP and RBF, from relocations and company expansion as well as the demand from PCB sector.
Economic: GDP in Q3 2024 grew by 3.0% Y-o-Y, from an increase of 2.2% in the previous quarter.