Office: Since most of office buildings in Bangkok are over 20 years old, the upcoming supply will interestingly refresh the market. Most new projects are developed as mixed-use projects, the low floors as retail space to support and provide convenient services to tenants.
Retail: The average rental rate slightly increased to THB 364 psf/mo on the ground floor. Additionally, the overall retail market has insignificantly expanded with the vacancy rate lower than 10%.
Industrial: In the year 2019, the serviced industrial land plot market is continuously expanding due to the accelerating of government infrastructure development projects including roads, railways, seaports, and airports.
Residential: The condominium selling price still remained steady. It saw an increase of only 0.6% (YoY) from THB14,600 per square foot (sf) to THB14,700 per square foot on average. The developers focused on boosting sales of ready-to-transfer units to drain the inventory.
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