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Bangkok serviced apartments - H2 2011

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Bangkok serviced apartments - H2 2011

In 2H 2011, a number of expatriates to Bangkok were recorded at 789,981 that increased from the previous year.

A total supply of Serviced Apartments (all grade) within Bangkok in 2H 2011 has showed at 15,995 rooms that increased from 1H 2011 or about 168 rooms or about 1.2%.

Sukhumvit is still be the main area for serviced apartment that represented share of 7,122 units or 45% of total supply in Bangkok as the Sukhumvit is the main area for the residential in Bangkok with fully facility supporting to the expatriates.

Occupied rooms of serviced apartments (all grades) has increased from 70.38% in 1H 2011 to 75.59% in 2H 2011 or about 5% increased.

Average room rate of the Serviced Apartments in Bangkok in 2H 2011 has recorded at Baht 1,976 per night which was slightly dropped from 1H 2011, at Baht 2,029 per night or about 2.6% decreased.

We have an opinion that the serviced apartments market will be stablised or very slightly increased for this period. There is due to the crisis in some country in Europe including the situation in Japan that direct eff ected to the serviced apartment market.

However, if the new government has a supporting policy in terms of economic and the industrial expansion, the serviced apartments market will be expected to be increased in this year.

Source : Knight Frank

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Keywords : Knight Frank