The vacancy rate of prime-grade offices in central Bangkok is expected to almost double to 30% next year, the highest since 1997, largely because of the influx of future supply, creating pressure on existing grade C office space.
Michael Glancy, country head of property consultant JLL Thailand, said vacancy rates of grade A office in Bangkok's central area will peak in 2023-24 as a wave of new supply is arriving with 226,314 square metres in 2023 and 174,414 sq m in 2024.
