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Bangkok Office Rents at 20-Year High | Thailand Property News

Office vacancy in Asia Pacific continued a slow decline in Q1 2012, however, this trend is likely to end in Q2, given slowing occupier demand and new supply coming online across the region, according to the latest Asia Pacific Office MarketView report published by CBRE,

Daniel Lorenzzo

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Office vacancy in Asia Pacific continued a slow decline in Q1 2012, however, this trend is likely to end in Q2, given slowing occupier demand and new supply coming online across the region, according to the latest Asia Pacific Office MarketView report published by CBRE, the world’s leading commercial real estate services firm.

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The minor dip in overall office vacancy in Asia Pacific resulted from diverging performance in markets across the region. Nearly half the countries in Asia Pacific recorded a drop in vacancy, slightly offsetting those regions that experienced an increase in vacancy. In Asia, overall vacancy in Bangkok, Hong Kong, Shanghai and Beijing continued to decline, while Tokyo, Singapore, Kuala Lumpur and New Delhi all saw vacancy rise.

In Bangkok, the Grade-A CBD vacancy rate fell to 18.3%, down from 20.5% in Q4 2011, as space in 2 new buildings completed in late 2011 was gradually filled.  Limited future supply and steady leasing momentum will support further rental growth in 2012.

Demand for office space in other cities in Asia Pacific weakened further in Q1 2012, as corporates continued to seek opportunities to reduce real estate costs via consolidation and/or relocation. This trend is spurring the release of secondary space in a number of key markets, which will continue to exert pressure on vacancy.  Demand for large floor plates also fell during the quarter, with most leasing deals completed over the period for smaller spaces. In terms of industry sector, financial institutions—particularly major international banks—remained generally inactive. Professional services including IT and consumption-related sectors accounted for the bulk of office leasing demand.

via APAC Office Vacancy Declines but New Supply Increasing While Bangkok Office Rents at 20-Year High | Thailand Property News.

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ASEAN economies poised for robust recovery with 6% real GDP growth in 2021

The six largest ASEAN nations (Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam) are expected to witness positive real GDP growth rates in 2021 according to Global Data

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Receding daily COVID-19 cases, rollout of vaccines, increased spending by the governments along with easing of monetary restrictions will help revive the Association of Southeast Asian Nations (ASEAN*) economies in 2021 with their real GDP forecasted to rise by 6%, says GlobalData, a leading data and analytics company.

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Thailand new coronavirus cases -59- down to two digits

Of the new cases, 28 were exposed to the virus while visiting high-risk areas. The province with the highest number of infections is Bangkok (10), followed by Samut Sakhon (7).

Boris Sullivan

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Thailand confirmed 59 new coronavirus cases and one additional death on Wednesday, taking its total infections to 12,653 and fatalities to 71, the first day Covid infections are down to two digits since the beginning of the second Covid-19 outbreak in the country in December.

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Thailand switches to black and white for final farewell to late King

Many businesses across Thailand will come to a halt while others will make necessary adjustments to pay their last respects to the beloved late King Bhumibol Adulyadej.

Boris Sullivan

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Many businesses across Thailand will come to a halt while others will make necessary adjustments to pay their last respects to the beloved late King Bhumibol Adulyadej. (more…)

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