Bangkok prime retail stock drops to 3.86m sqm in Q1

Older centres that no longer meet the prime criteria were reclassified.

Bangkok's prime retail market remained resilient in Q1 2026 despite subdued consumer spending, weaker tourism trends and geopolitical uncertainty, according to JLL.

The consultancy said leasing demand was supported by household goods retailers, expanding variety store operators, Asian food and beverage chains and mass-market fashion brands. Transaction volumes remained broadly in line with the previous quarter.

Prime retail stock declined by 11,400 sqm to 3.86 million sqm following the reclassification of older centres that no longer met prime market criteria. No new supply was delivered during the quarter.

Vacancy remained broadly stable, supported by strong leasing momentum carried over from late 2025 and continued absorption within existing centres. Prime gross rents increased 1.9% quarter-on-quarter to THB2,722 per sqm per month, although underlying rental growth slowed to 0.6%.

JLL warned that ongoing conflict in the Middle East could weigh on tourism recovery and consumer sentiment throughout 2026, creating additional challenges for retail landlords and developers.