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Colliers predicts fall in 2020 Bangkok office rents for the first time in 10 years

Colliers predicts fall in 2020 Bangkok office rents for the first time in 10 years
Photo by Dave Weatherall on Unsplash

Bangkok’s office rent and occupancy rate will drop in 2020 for the first time in a decade, as the pandemic hits the overall economy, according to a property consultancy.

Phattarachai Taweewong, associate director of research and communication at Colliers International Thailand, said the Bangkok office market has grown consistently since 2010.

“This year will be the first contraction in the sector since 2010, one of the roughest years because of political unrest,” he said.

From 2011-19, Bangkok office rents and occupancy rate grew 3-5% per year.

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