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Bangkok : Swift rebound across major property sectors - Q3 2014

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A research produced by DTZ

Bangkok : Swift rebound across major property sectors - Q3 2014

 Thailand’s economy rebounded in Q2 with a 0.2% year-on-year (y-o-y) growth. GDP growth turned positive in the second quarter and was largely supported by a 0.2% y-o-y increase in private consumption after a y-o-y contraction of 3.0% in Q1. The new interim government which was installed in early September has boded well for business sentiment, and will pave the way for reforms. Investment budgets and medium and long-term plans have been put in place to help revive the economy. The National Economic and Social Development Board (NESDB) forecasts economic growth of 3.5% y-o-y in H2 and 1.5% for the whole of 2014.

Office demand continued to increase albeit at a slower pace as the lack of suitable office space stalled large movements in prime buildings. Occupancy levels rose by a marginal 0.1 percentage-point in Q3 to 91.2% as the bulk of leasing activity was sustained by lease renewals, with pockets of consolidations and relocations. Notwithstanding, rentals surged to THB745 per sq m per month in Q3 from THB720 per sq m per month in Q2, due largely to limited space options for tenants.

Source : DTZ

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Keywords : DTZ