Bangkok office occupancy rises for second straight quarter

The occupancy rate increased to 77.5% in Q1.

With demand outpacing supply at the start of the year, Knight Frank data revealed that the overall market occupancy rate in Bangkok’s office sector rose by 0.5% pts to 77.5%, marking a second consecutive quarter of growth.

Here’s more from Knight Frank:

Occupancy improved across all building grades, led by Grade A, which saw the strongest rebound with a 2.1% pts increase, continuing the segment’s recovery from the low point in Q3 2024. Grade B remains the weakest performer at 76%, while Grade C held steady at 80%.

In Q1 2025, the market-wide asking rent edged up by 0.3% quarter-on-quarter (QoQ) to THB 845 per sq m per month. The average asking rent increased across all building grades. Grade A rents rose marginally by 0.2% to a new market high of THB 1,248, while Grade B increased by 0.3% to THB 872. Grade C led the quarterly growth, with a 0.4% rise to THB 543 per sq m per month.