• Total office supply in Bangkok reached 9,093,528 sq. m. in Q1 2020, increasing by 1.3% Q-o-Q from the completion of 121,000 sq. m. from four newly completed buildings: Spring Tower, The PARQ Phase 1, Siri Campus and Tipco Tower 2.
• Overall net take-up was 21,940 sq. m., decreased by 47.2% Y-o-Y and 13.7% Q-o-Q as many large tenants have not started moving into their new offices.
• As a result, occupancy rate fell to 92.1% in this quarter from 93.1%.
• The average rent for Grade A office space in the CBD rose by 2.5% Q-o-Q and 6.2% Y-o-Y to THB 1,100 per sq. m. per month.