Bangkok Retail Supply Increased in Q1 2011
Bangkok Retail MarketView Q1 2011
The economic recovery in the fourth quarter of last year improved consumer confidence which had a knock on impact on shopping patterns, with increased retail spending this quarter.
Supply is set to increase going forward, based on projects already announced, an additional 0.77 million m2 will be completed within the next few years, increasing the total Bangkok retail supply to 6.25 million m2. Of this, 0.39 million m2 of retail space is expected to be completed this year bringing the total retail supply to 5.87 million m2 by the end of 2011.
The overall occupancy rate of Bangkok retail properties in Q1 2011 decreased slightly to 90.5%, down 0.5% Q-o-Q and 2.9% Y-o-Y. The total occupied retail space marginally decreased to 4.96 million m2 in Q1 2011, down 0.03% Q-o-Q and 1.8% Y-o-Y.
This is an extract fromBangkok Retail MarketView Q1 2011, click to download the full report.
