Asia Pacific Office Outlook 2024

BANGKOK

RENT GROWTH

R E N T ( T H B / S QM / MO ) A N D R E N T G R OWT H ( % P E R A N N U M )

FORECAST

980

1.2%

970

1.0%

960

0.8%

 Rental growth is expected to remain unchanged in 2023 at THB 936 sqm/month.  Beyond this, rents are forecast to grow slowly by 0.5% in 2024, to reach THB 940 sqm/month.  Rent growth in 2024 will slow as new supply enters the market and provides occupiers with more options.  Rent growth is expected to grow by 0.7% in 2025, and 0.8% in 2026.

950

0.6%

940

0.4%

930

0.2%

920

910

0.0%

2021

2022

2023

2024F 2025F 2026F 2027F

THB/SQM/MO

Rent growth (%)

Source: Cushman & Wakefield