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Bangkok serviced apartment market stays steady despite greater competition

The Bangkok serviced apartment market remains stable even with these units facing greater competition for condo units. Several prominent Thai developers, including Sansiri and Ananda, have entered the Bangkok serviced apartment market in recent years as they look for ways to increase revenue and create sustainable passive income. However, the future of the segment is now cloudy.

According to Colliers International Thailand, demand for Bangkok serviced apartments is strongest in the Central CBD and Sukhumvit areas of the city, although there has been little movement in terms of both occupancy and rent. Increases may be possible in the future, but competition from the condo market will limit the potential of this.

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