Bangkok Office Market - Q1 2026

Bangkok’s office market remained highly competitive in Q1 2026 despite improving demand. Leasing activity strengthened significantly, driving occupancy higher for a second consecutive quarter, while rents continued to decline amid ongoing supply additions. Demand was increasingly concentrated in high-quality, green-certified buildings, reinforcing the “flight to quality” trend and widening the performance gap with older assets. Non-CBD locations emerged as key growth areas as tenants sought Grade A space at more competitive rental levels. Looking ahead, a substantial pipeline scheduled for completion in 2026 is expected to sustain tenant-favourable conditions, although geopolitical tensions and weaker economic sentiment may weigh on future leasing activity.

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