Outlook 2023 Thailand

BANGKOK RENT GROWTH

RENT (THB/SQM/MO) AND RENT GROWTH (% PER ANNUM)

FORECAST

5.0%

1,400

 Rental growth of 5% is expected in 2022, following 2% growth in 2021.  Beyond this, rents are forecast to grow by 3% in 2023, to reach THB1,193/sqm/month.  After this time, rent growth will slow as new supply enters the market and provides occupiers with more options.

4.5%

1,200

4.0%

1,000

3.5%

3.0%

800

2.5%

600

2.0%

1.5%

400

1.0%

200

0.5%

0

0.0%

2020

2021

2022F 2023F 2024F 2025F 2026F THB/SQM/MO Rent growth (%)

Source: Cushman & Wakefield