CBRE Thailand Sees Continued Positive Net Take-Up in Bangkok Office Market

CBRE Thailand, the leading international property consultant, has released its latest market view for the first quarter of 2026, showing Bangkok’s office market continued to improve. Overall occupancy rose to 79.3%, marking the second straight quarterly increase.

Net take-up in Q1 2026 exceeded 11,000 square meters, extending the market’s streak of positive net take-up to eight consecutive quarters.

The flight to quality trend—where tenants prioritize premium office space—continued during the quarter. Demand remained strongest for Grade A+ office space in the CBD, while Grade A buildings in non-CBD locations also continued to attract tenants.

There was no new office supply completed during the quarter. Looking ahead, future supply is expected to remain limited, with total new supply over the next five years projected to be lower than the amount of new supply launched into the market in 2025 alone.

Meanwhile, the gap in rental rates between the best buildings and the rest of the market is widening across all submarkets. The strongest buildings continue to command a premium, while older or less competitive stock is coming under more pressure.

Looking forward, several aged but good quality older buildings are scheduled to begin major renovations in 2026. Other buildings may also be upgraded, converted or demolished, adding to relocation demand in the market.

Roongrat Veeraparkkaroon, Managing Director, CBRE Thailand, said:
“What we are seeing is that occupiers are still active and are taking more time to compare more options before making a decision. Many may not be expanding in a big way, but they are willing to relocate if they can get better quality space with good value, or a workplace that better suits their people.”

Chotika Tungsirisurp, Head of Consulting & Research, CBRE Thailand, said:
“The overall picture is gradually improving. The market has now recorded eight straight quarters of positive net take-up, and the supply pipeline is relatively low. At the same time, older stock will likely go through more repositioning. This should lead to further tenant movement and continue to widen the gap between stronger buildings and the rest of the market.”

CBRE Thailand expects demand for well-positioned office buildings to remain steady, with stronger assets continuing to outperform the wider market.