2025年第四季度曼谷写字楼市场

knightfrank.co.th/research Q4 2025An overview review of Bangkok‘s Office market in Q4 2025by Knight Frank Thailand Bangkok’s office market recorded stable supplyconditions in Q4 2025. Total stock stood at 6.49million sq m, unchanged from the previous quarterbut representing growth of 2.9% compared with thesame period last year. Occupied space continued toexpand at a modest pace to reach approximately 5.00 Mr. Panya JenkitvathanalertPartner, Head of OfficeStrategy & SolutionsKnight Frank Thailand Thailand’s economy expanded inQ4 2025 compared with the previousquarter. On the supply side, activityimproved as manufacturing outputincreased, supported by strongerdomestic and external orders as wellas the resumption of production atfactories that had temporarily shutdown for process upgrades. Therecovery in manufacturing also liftedrelated service sectors, particularlythose linked to trade and logistics.On the demand side, domesticspending has strengthened. Privateconsumption rose, partly benefitingfrom government support measures,while private investment continued Total supply of office space for rentSupply in Bangkok remained stable duringQ4 2025 at 6.49 million sq m. Whileno significant new completionswere recorded within the quarter,the market still expanded by 2.9% With several major projects nowFuture Supply completed and limited newannouncements entering the pipeline,future supply has moderated toaround 851,000 sq m. Approximately68% of this total is currently underconstruction, providing a relativelyclear view of additions that willmaterialize over the next few years. Leasing remained healthy byDemand historical standards. Take upremained stable from the previousquarter, rising slightly to 102,000 sqm. Meanwhile, net absorption wasrecorded at 25,000 sq m, supportinga 0.5% QoQ rise in total occupiedspace to about 5.0 million sq m. The Market Dynamicsby Segment Overall, market occupancy improvedmodestly, rising by 0.4 % pts QoQto reach 77%. On an annual basis,occupancy was largely unchanged, Across grades, movements weregenerally limited but positive. BothGrade A and Grade B occupancyincreased by 0.3 % pts QoQ. GradeC experienced the most notable Rental trends did not move uniformlyacross the market. The headlineaverage for Bangkok declined by0.3% QoQ to THB 850 per sq m permonth. Segmented by grade, Grade Arents achieved a modest increase of Market Dynamicsby Area The CBD office marketposted adecline in rent, with the averageasking rent falling 0.4% QoQ to THB965. The occupancy rate softened • Ploenchit–Chidlom–Wirelesssaw rents edge up 0.3% QoQ to THB1,075, while occupancy slipped 0.5%pts QoQ to 75%. • Nana–Asoke–Phrom Phongrecorded a 1.4% rental decline QoQto THB 920, though occupancydecreased 0.2% pts QoQ to 79%. • Silom–Sathorn–Rama IVsaw rents dip slightly by 0.1% QoQto THB 988, while occupancydecreased 0.5% pts QoQ to 75%. The Non-CBD marketrecorded aslight rental decrease, with averageasking rents down 0.1% QoQ to THB688, while in contrast, occupancy • Petchburi–Rama IX–Ratchadasaw rents decline 0.5% QoQ to THB731, with occupancy rising 2.0% pts • Phaholyothin–Viphavadirecorded a 0.5% rental decreaseQoQ to THB 719, while occupancydipped 0.4% pts QoQ to 71%. • Bangna–Srinagarindrasaw rents increase 0.8% QoQ to THB630, while occupancy improved bya substantial margin, increasing by Take Up Bangkok’s office market continuesReview & Outlook Central Business District (CBD)Glossary Also referred to as gross absorption,it refers to the total amount of spacethat has been leased or occupiedwithin a specific timeframe, to operate in a competitive The CBD is the region in Bangkokwith the greatest concentration ofgrade A office buildings, 5-star hotels environment. Even so, the latestfigures suggest that the market isstarting to stabilize, with demandkeeping pace with supply over the Green Buildings Space Vacated The office buildings classified bygreen building certificates, including Measures the total amount of spacevacated and not re-let during a given Market enquiry continues to favorhigh-quality buildings, especiallythose with modern specificationsand recognized environmentalcredentials. In contrast, older and Grade A Buildings Net Absorption By desirability, these prime propertiescommand the highest market rent(top 20%). You will find them locatedin the Central Business District, Measures the change in occupiedspace during a given period. Netabsorption indicates the changein demand relative to the current Grade B Buildings The largest sector of the office market,these are the buildings that weretraditionally in tremendous demand. Looking forward, the reduction in thefuture supply pipeline compared withprevious years may gradually easepressure on fundamentals. However,in the short term, occupiers retain a Grade C Buildings Typically older properties, thesebuildings provide office space for rent We like questions, if you’ve got one about our research, or would lik