Office space in Bangkok continued to increase steadily

At the end of first quarter 2021, the supply of office space in Bangkok continued to increase steadily to 9.098 million square meters (97.93 million square feet), according to Colliers International, or an increase of 0.2 percent quarter-over-quarter from the launch of one new office building project in the Bangkok area, namely the new headquarters building of Bangkok Life Assurance, located on Bangkok-Nonthaburi Road, with the total leasable area of 20,000 square meters (215,278 square feet).

Overall average quoting rental prices at all grades and areas of office buildings in Bangkok increased 0.4 percent quarter-over-quarter, showing that some landlords have not yet openly dropped rental rates. It was found that the asking price for class A office buildings in the CBD areas dropped 0.5 percent q-o-q. The outer CBD areas offered slightly higher rental price, as some tenants who previously rented office space in CBD areas began to look for office space outside the city center