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CBRE Bangkok Property Market View Q1 2016

Bangkok office rents continue to rise with low vacancy rates
Highlights:
– Grade A CBD rents rose by 6.6% year on year.
– Total net take-up for the overall market in Q1 2016 was 32,700 square metres. This is down 50% year on year.
– There is just 338,000 square metres under construction and due for completion between 2016-2018.

Slow retail sales delay new retail project launches
Highlights:
– Q1 2016 total Bangkok retail supply increased by 0.9% to 7.2 million square metres. This is quarter on quarter.
– Occupied retail space was at 6.7 million square metres. The overall occupancy rate was 92.9%, dropping 0.3% from the previous quarter.
– March 2016, Thailand’s Consumer Confidence Index (CCI) dropped to 73.5 from 74.7 in February and 75.5 in January.
– The number of international tourist arrivals to Thailand continued to grow, showing an approximate increase of 15%. The increase in tourists improved the retail sales in Central Bangkok.

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