• Total office supply in Bangkok as of Q3 2020 was 9,165,588 sq.m., increasing by 0.2% from the previous quarter from the completion of three new office buildings.
• Net take-up in this quarter went to negative 17,859 sq.m. from numerous contractions in size by tenants, mainly in Grade B Non-CBD buildings.
• The occupancy rate in the Bangkok office market dropped to 91.1% from 91.6% in the previous quarter, decreasing by 0.5 percentage point Q-o-Q and 1.9 percentage point Y-o-Y.
• With limited activity in the market, the average rental rate for Grade A office buildings remained the same as previous quarter at THB 1,100 per sq.m.