> **来源：[研报客](https://pc.yanbaoke.cn)** # **Bangkok Office Market Q2 2026 Summary** ## **Core Content** Q2 2026 marked a significant period for Bangkok's office market, characterized by a surge in supply and mixed demand dynamics. The market saw the completion of five new buildings, totaling approximately 207,000 sq m, which increased the total supply by 3.2% QoQ to 6.75 million sq m. Around 39% of the new supply was already pre-committed, leading to a net absorption of approximately 76,000 sq m. However, the overall occupancy rate declined by 1.3 percentage points to 76.4%, as supply outpaced demand. The average asking rent for the entire market rose by 1.3% QoQ to THB 858 per sq m per month, primarily due to the entry of new premium, green-certified office spaces rather than price increases in existing buildings. This trend reflects a growing preference among occupiers for sustainable and high-quality real estate. ## **Main Points** - **Supply Increase**: - Five new buildings completed, adding 207,000 sq m. - Total supply rose by 3.2% QoQ to 6.75 million sq m. - 39% of the new supply was pre-committed, contributing to strong net absorption. - **Occupancy Trends**: - Overall occupancy rate dropped to 76.4%. - Grade A: 77% (down 1.2% QoQ) - Grade B: 74% (down 1.4% QoQ) - Grade C: 79% (down 1.1% QoQ) - **Rent Dynamics**: - Market-wide average asking rent: THB 858 (up 1.3% QoQ) - Grade A: THB 1,268 (up 2.2% QoQ) - Grade B: THB 864 (up 0.4% QoQ) - Grade C: THB 542 (up 0.1% QoQ) - **Demand Overview**: - Headline demand increased to 134,000 sq m, with net absorption of 76,000 sq m. - Absorption in new completions: 82,000 sq m. - Vacated space remained high at 58,000 sq m. - Green-certified buildings attracted stronger demand, with net absorption of 92,000 sq m, while non-green buildings experienced a loss of 16,000 sq m. - **Market Segments**: - **CBD**: - Average asking rent: THB 977 (up 0.7% QoQ) - Occupancy: 75% (down 0.6% QoQ) - **Ploenchit-Chidlom-Wireless**: - Rent: THB 1,075 (up 0.3% QoQ) - Occupancy: 75% (up 0.3% QoQ) - **Nana-Asoke-Phrom Phong**: - Rent: THB 898 (down 1.1% QoQ) - Occupancy: 80% (up 0.7% QoQ) - **Silom-Sathorn-Rama IV**: - Rent: THB 1,018 (up 3.0% QoQ) - Occupancy: 74% (down 1.4% QoQ) - **Non-CBD**: - Average asking rent: THB 693 (up 3.0% QoQ) - Occupancy: 78% (down 2.2% QoQ) - **Future Supply**: - Remaining supply pipeline to 2031: 612,000 sq m. - 56% of the pipeline is under construction. - 197,000 sq m scheduled for completion in the second half of 2026, indicating continued supply pressure into 2027. - **Economic Outlook**: - Thailand's GDP growth forecast was raised to 2.3% for 2026, driven by export and investment momentum, government support for energy costs, and reduced impact from the Middle East conflict. - Inflation is expected to rise temporarily before easing. - Business sentiment improved in June 2026 (BSI: 46.1), but remains below the neutral level at 50. ## **Key Observations** - **Green Certifications**: - Green-certified buildings accounted for 44% of total supply and attracted stronger demand. - Green space increased by 6.8% QoQ to 2.95 million sq m. - Occupiers are increasingly prioritizing sustainability, with green buildings becoming essential for many. - **Leasing Trends**: - Demand for fitted and ready-to-occupy space is rising. - Landlords are partnering with design-and-build firms to offer turnkey solutions, reducing tenant barriers to relocation. - **Occupier Behavior**: - Despite improved sentiment, occupiers remain cautious and focus on flexibility and cost efficiency. - Upgrades to high-quality space are occurring in both CBD and non-CBD areas, reflecting a broader "flight to quality" trend. ## **Conclusion** The Bangkok office market in Q2 2026 experienced a significant supply increase, leading to a decline in overall occupancy despite strong net absorption. Green-certified buildings continue to outperform, while non-green spaces face challenges. The market remains tenant-favorable, with landlords adapting to occupier preferences by offering more flexible and high-quality solutions. Although economic conditions have improved, growth is uneven, and business sentiment remains cautious. The supply pressure is expected to ease by the end of 2026, but demand for quality space is likely to continue driving market dynamics.