Office
Total Grade A office inventory in the CBD area remained stable at 2.47 million sq m in Q3 2025. No new Grade A supply entered the CBD market. The overall vacancy rate fell to 26.0% in Q3 2025, from 26.5% in Q2. Overall Grade A office space leasing demand continued to expand, with many 2024 new Grade A market entrants driving up occupancy through the first three quarters of 2025. Average Grade A office gross rents softened to THB937 per sq m per month in Q3 2025, down from THB942 per sq m per month in Q2.
Industrial
Total Ready Built Factory (RBFs) inventory remained unchanged at 3.42 million sq m. Overall RBFs vacancy fell to 11.71% in Q3, down from 13.66% in Q2. Total Ready Built Warehouse (RBWs) inventory remained stable at 5.99 million sq m. The overall RBWs vacancy rate fell to 17.21%, down from 19.09% in Q2. The RBFs average monthly asking rent increased to THB194 per sq m in Q3, up from THB192 per sq m in Q2. The RBWs average monthly asking rent in Q3 rose to THB158 per sq m, up from THB155 per sq m in Q2.
Bangkok Hotel
Total hotel inventory in Bangkok remained unchanged at 146,628 rooms in Q3 2025. No new hotel supply entered the market. The Central Business District (CBD) remains the dominant submarket, with 53.1% of total supply. The city’s average hotel occupancy rate declined to 70.5% in Q3 2025, down from 72.3% in Q2. The average daily rate for all Bangkok hotel classes fell to THB3,535 from THB3,753 in Q2. RevPAR was recorded at THB2,492, down 8.1% from the THB2,712 figure of Q2. The hotel market is expected to mount a recovery in Q4 2025 and Q1 2026, traditionally the peak tourism period.
Phuket Hotel
One luxury and six upscale hotel properties opened in Phuket in 1H 2025, adding 957 rooms. Phuket luxury and upscale hotel inventory then expanded to 48,870 rooms, up 2.0% from 2024. The average luxury and upscale hotel occupancy rate rose to 84.1% in 1H 2025, up from 81.5% in 1H 2024. The average daily rate for luxury and upscale hotels fell to THB7,104 from THB7,158 in 1H 2024. RevPAR was recorded at THB5,975, up by 13% from the THB5,286 figure of 1H 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 remained unchanged q-o-q at THB3,717 per sq m in Q3 2025. This represents rental growth of 2.06% y-o-y. The overall prime CRD retail market vacancy rate rose to 4.71% in Q3 2025, up from 3.38% in Q2.
Condominium
Bangkok’s condominium market grew more sizably in Q3 2025, with 6,618 new condominium units from five projects launched in inner areas and six projects in outer city areas. The quarterly new supply number was up 200% q-o-q. The average unit selling price for newly launched projects was recorded at THB131,419 per sq m in Q3, up from THB89,500 in Q2.
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