Q4 2013 Office market report research • Demand for Bangkok’s office space grew in the 4th quarter of 2013, despite declining business confidence. • In Q4 2013, the only new supply that entered the market was Wing A of the Grand 9th Tower • Several Grade A office buildings are being constructed or planned in the New Business District, close to the Rama 9 – Rachadapisek intersection. • The average recorded office occupancy rate broke the 90% level for the first time in 6 years at 90.25%, which increased from the last quarter by 0.64% and 2.76% year-on-year. • Rental rates across all office grades increased again in Q4, especially the Grade A office sector that saw rents grow by 6.89% year on year. highlights
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Q4 2013 Office market report - Knight Frank...Q4 2013 Office market report research • Demand for Bangkok’s office space grew in the 4th quarter of 2013, despite declining business
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TheCentralBusinessDistrictisdefinedas “the area within the city that has the greatest concentration of prime commercial buildings”. InBangkok,thisareaisbroadlydefinedasa‘bootshaped’areabetweenSilomtoSathorn,andRajadamriandWirelessRoadsalongPloenchitandRamaI.
outlook In2010,veryfewofficetenantsleftthemarketordownsizedtheiroperations.Assuch,theBangkokofficemarketwasabletoweatherthatrelativelyshort-livedpoliticalstorm.
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