Office rentals to rise in 2016
The Grade - 'A' office rental market performed well in 2015 but it, is expected that prices. Will increase in 2016 - possibly hitting the, THB 1 000 per sqm per month level in some parts of the city.
Real estate firm. Knight Frank Thailand revealed the overall performance of the Grade-A office rental market in 2015 was ", good."Characterised by higher occupancy rates.
Rental prices are likely rise to, said is, the and location of new office buildings. Is concentrated in the Ratchada - Rama 9 area. In 2016 the market is expected to be favourable for landlords or owners of. Buildings who will have enhanced bargaining power in terms of negotiating rents with tenants.
Risinee, SarikaputraDirector and Head of Research and Consultancy for Knight Frank Thailand said that, Bangkok 's office property market has. Great prospects.
Office space was increasingly rented throughout 2015. In the first nine months of the year there was almost 200 000 sqm,, Of new space rented. For 2015 it is expected there will be no less, than 250 000 sqm of new space rented.
Currently there. Is, about 300000 sqm of office space available for rent with average rental prices of Grade - 'A' prices in the central business district. Of Bangkok standing at THB 905 per sqm, per month according to the real estate firm.
It said the new emerging area for office. Buildings is the Ratchada - Rama 9 area. Its Grade-A office buildings feature a higher, rental pricesAnd in 2016 it is anticipated that there will, be 195 245 sqm of new office space added to the supply.
Up to 147 150 sqm,, Will be located outside the central business district while, just 48 095 sqm of space will be located within the traditional. Central business district.
In summary Knight Frank, said the overall office market trend is good.Rental prices are likely to rise due to the relatively low increase in office space supply. Risinee expects 2016 will be. A favourable one for landlords or owners of office buildings as they will enjoy enhanced bargaining power when it comes. To rent negotiations with tenants.
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