As the office market faces its worst net take-up rate, Bangkok landlords should modernise their properties and offer more flexible contracts to attract tenants before a huge amount of new supply floods in, according to property consultancy CBRE Thailand.
Roongrat Veeraparkkaroon, CBRE managing director, said the office market had been heavily affected by the pandemic. It saw a negative annual net take-up last year for the first time since the 1997 financial crisis.
“There were more reductions of occupied office spaces than new spaces leased,” she said. “Last year we saw more than 80,000 square metres of negative net take-up. Even in the subprime crisis of 2008, net take-up reduced but it was still positive.”
Even though the global economy and the control of Covid-19 is projected to improve, large companies who are tenants have…
