Bangkok bureau rents among world’s cheapest

Sathorn area has some of a many sought-after bureau space in Bangkok. (Bangkok Post record photo)

Bangkok has some of a cheapest bureau space in a world, ranked 109th among 126 vital cities surveyed in 2016 by general consulting organisation CBRE.

In a latest Global Prime Office Occupancy Costs consult in Mar 2016, a association ranked Hong Kong as a many costly bureau location.

Asia continued to browbeat a list of a world’s many costly bureau locations, accounting for 7 of a tip 10 markets worldwide including China, Japan and India. (continues below)

Although a normal lease for primary Grade A offices in Bangkok’s executive business district has increasing by 6.6% year-on-year and is among a tip 25 annual let increases, Bangkok has been ranked roughly during a bottom, dropping 4 notches from 105th in 2015. 

The normal primary Grade A lease was 959 baht per block metre per month, roughly one-tenth a cost in Hong Kong (Central) – a world’s priciest market. The lease in Thailand has risen from 900 baht in 2015.

“Bangkok bureau direct has remained clever notwithstanding a diseased economy and this, total with a singular volume of new space completed, will continue to pull adult rents,” pronounced Nithipat Tongpun, conduct of bureau services, CBRE Thailand.

“We design a tellurian economy to keep growing, and a tellurian use sector, a primary occupier of primary bureau properties, will continue to enhance by durations of volatility,” pronounced Richard Barkham, CBRE’s tellurian arch economist.

The use zone should uncover quite clever enlargement in Asia as pensions and word products benefit marketplace share so occupancy cost enlargement will continue to trend upwards during a assuage pace.

“With low cavity rates and miss of primary space in Hong Kong, this has authorised landlords to pull rents upwards,” pronounced Henry Chin, conduct of research, CBRE Asia Pacific.

“Mainland Chinese financial firms have been seeking primary bureau space in Hong Kong to support their abroad business enlargement and to support for a clients’ needs to conduct their collateral outward China.” 

Article source: http://property.bangkokpost.com/news/1010841/bangkok-office-rents-among-worlds-cheapest

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