Apartment rent by area Bangkok

Average achieved rents - Bangkok Q4

The average achieved rents for Grade A and B Bangkok apartments declined in all areas, from 1.2-5.6%.

Grade A apartments in the Riverside/Rama III area posted the highest decline, at 5.7% q-o-q to THB 405/sqm/month. For Grade B, Silom/ Sathon retreated the most, by 3.5% q-o-q to THB 353/sqm/month.

Going forward, we expect to see a further weakening in rents as many foreign and JV companies have announced production cuts, while others have decided to either freeze or reduce employee salaries and other benefits.

However we have seen an increase y-o-y in the numer of work permit- holding expats. Generally, an increase in the number of expatriates in Bangkok reflects positively on demand for the expatriate rental apartment sector in downtown Bangkok.

As of November 2008, the number of work permit-holding expatriates in Bangkok and provincial areas increased to 84,616 and 68,190 respectively, rising 15.4% and 15.2% y-o-y. The total number of expatriates in Thailand as of November 2008 stood at 152,806, up 15.3% y-o-y.

If you wish to review the full report in detail (Apartment Rental/Leasing Q4)