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THAILAND MARKETBEAT REPORTS

1/26/2021
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: The Bangkok office market merits close monitoring, with a huge volume of new supply due in the next five years. The total of approximately 1.8 million sq m will come from many prime land plots in the city.

Industrial: Despite the drag on the market from the economic headwinds, changing lifestyle habits, e-commerce, food and logistics businesses have grown rapidly and have positively impacted the market this year. 

Retail: Shopping malls started to resume operations in May, but CRD footfall in 2H 2020 was still unable to recover to normal levels as international visitors are a key driver of purchasing power in the CRD. The retail market still needs close monitoring, with change possible at any time while the global pandemic remains active.

Condominium: The Bangkok condominium market has been hit both by declining demand and the impact of the COVID-19 crisis in 2020. The volume of new stock in the year recorded a five-year low of 8,600 units from 47 projects, compared to an average of 39,000 units per year.

Learn more by clicking our most recent Bangkok MarketBeat reports below.

CURRENT MARKETBEAT

Office Buildings CBD
Bangkok Office Report

With Bangkok’s total office supply at approximately 6.20 million sq m, the office market sustained a low overall vacancy rate of 8.84% in Q4, although up from 8.01% q-o-q.

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Warehouse Internal Rack
Bangkok Industrial Report

Thailand’s industrial market continued to slow in the second half of 2020, with investment decisions and rental expectations impacted by the COVID-19 situation.

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Shopping Retail
Bangkok Retail Report

In 2020, there was no new supply added in the city’s Central Retail District (CRD) area. Meanwhile, demand from inbound tourism in the second half dropped by almost 100% y-o-y due to continuing COVID-19 travel restrictions.

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Warehouse Internal Rack
Bangkok Condominium Report

Factors contributing to the decreased market price are that developers lower their price to reduce stock on hands and new projects launched are Mid Market and Affordable Condo in respond to most buyer’s purchasing power in Bangkok.

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