Office
Total Grade A office inventory in the CBD area remained stable at 2.47 million sq m in Q2 2025. The overall vacancy rate fell to 26.5% in Q2 2025, from 28.1% in Q1 2025. Average Grade A office gross rents increased to THB942 per sq m per month in Q2 2025, up from THB939 per sq m per month in Q1 2025. Grade A office gross rental levels in CBD areas rose in the quarter, with no new supply entering the market and growing leasing demand for space.
Industrial
Total Ready Built Factory (RBFs) inventory in Q2 2025 remained unchanged at 3.42 million sq m. Overall RBFs vacancy fell to 13.66% in Q2 2025, from 14.26% in Q1 2025. Total Ready Built Warehouse (RBWs) supply also remained stable at 5.99 million sq m in Q2 2025. The overall RBWs vacancy rate rose to 19.09% in Q2 2025, from 18.62% in Q1 2025. The RBFs average asking rent remained unchanged q-o-q at THB192 per sq m per month in Q2 2025. The RBWs average asking rent in the quarter also remained stable q-o-q at THB155 per sq m per month.
Bangkok Hotel
Total hotel inventory in Bangkok remained unchanged at 146,628 rooms in Q2 2025. No new hotel supply entered the market. The city’s average hotel occupancy rate declined to 72.3% in Q2 2025, down from 76.0% in Q1. The average daily rate for all Bangkok hotel classes fell to THB3,753 from THB3,812 in Q1. RevPAR was recorded at THB2,712, down 10.1% from the THB2,897 figure of Q1.
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 Q2 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 Q2 2025. This represents rental growth of 3.36% y-o-y. The overall prime CRD retail market vacancy rate dropped back to 3.38% in Q2 2025, from 3.76% in Q1.
Condominium
Bangkok’s condominium market continued to grow modestly in Q2 2025, with 2,205 new condominium units from five projects launched in outer city areas. The overall pre-sale rate was at 44.7% in Q2 2025, up from 43.4% in Q1 2025, with 986 units of the new stock being sold. The average unit selling price for newly launched projects was recorded at THB89,500 per sq m in Q2, down from THB144,547 in Q1.
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