Office
Total Grade A office inventory in the CBD area increased to 2.53 million sq m in Q4 2025. The new Dusit Central Park Grade A project fully completed construction and entered the CBD market. The overall Grade A vacancy rate fell to 23.8% in Q4 2025, down from 26.0%. Average Grade A office gross rents increased to THB943 per sq m per month in Q4 2025, up from THB937 per sq m per month in Q3. When compared to the same period last year, monthly rents have fallen from THB950 per sq m.
Industrial
No new factory supply entered in Q4 2025. Total Ready Built Factory (RBFs) inventory remained unchanged at 3.42 million sq m. Overall RBFs vacancy fell to 9.53% in Q4, down from 11.71% in Q3. Total Ready Built Warehouse (RBWs) inventory increased to 6.05 million sq m. The overall RBWs vacancy rate fell to 15.23%, down from 17.21% in Q3. Average Grade A office gross rents increased to THB943 per sq m per month in Q4 2025, up from THB937 per sq m per month in Q3. When compared to the same period last year, monthly rents have fallen from THB950 per sq m.
Bangkok Hotel
Total hotel inventory in Bangkok expanded to 147,379 rooms in Q4 2025, up from 146,628 rooms in Q3 2025, rising by 0.51%. Two new properties entered the market, adding 751 rooms in the quarter. The city’s average hotel occupancy rate increased to 72% in Q4 2025, up from 70.5% in Q3 2025. The average daily rate for all Bangkok hotel classes rose to THB3,843 in Q4, up from THB3,535 in Q3. RevPAR was recorded at THB2,766 in Q4, up 11% from the THB2,492 figure of Q3.
Phuket Hotel
Tribe Phuket Patong, an upscale hotel in the Central-West submarket, opened in in 2H 2025, adding 230 rooms. Phuket luxury and upscale hotel inventory then expanded to 49,100 rooms, up 0.47% from 1H 2025. The average luxury and upscale hotel occupancy rate decreased to 76% in 2H 2025, down from 76.8% in 2H 2024. The average daily rate for luxury and upscale hotels increased to THB7,005 in 2H 2025, rising by 3.9% y-o-y. RevPAR was recorded at THB5,324, up by 6.9% from the THB4,978 figure of 2H 2024.
Retail
Total Grade A Retail Central Retail District (CRD) inventory remained unchanged at 986,218 sq m in Q3 2025, with no Grade A supply entering the CRD market in the quarter. The average monthly asking rent for prime retail space in CRD areas increased to THB3,746 per sq m in Q4 2025, up from THB3,717 in Q3 2025. This represents rental growth of 0.78% q-o-q, and 0.78% y-o-y. The overall prime CRD retail market vacancy rate rose to 5.03% in Q4 2025, up from 4.71% in Q3, with the overall retail market facing greater competitive pressures than in previous quarters.
Condominium
The condominium market saw a clear slowdown in new project launches in 2025, with just 16,408 new condo units launched throughout the year. In Q4 2025 just 3,100 new units were launched, down approximately 53% from the previous quarter. A greater number of new condo projects launched in 2025 were priced at the THB100,000 per sq m level, with a substantial number at THB200,000 per sq m.
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