In Q3 2012 the total number of downtown apartment units decreased slightly by 0.8% Q-o-Q and 2.4% Y-o-Y, from 11,763 units in the last quarter to 11,671 units this quarter. This is because one apartment was demolished and one was converted into an office building.
Occupancy in Q3 2012 was 88.6%, up from 88.3% in Q2 2012. A total of 10,380 units were occupied this quarter, up from 10,346 units in the last quarter.
The Central Lumpini area posted the best results and the highest achieved rents with Grade A rents of THB 466 sq.m./month, down 3.0% Q-o-Q and up 7.7% Y-o-Y.
The number of expatriates holding work permits in Thailand increased 14.1% Y-o-Y, increasing from 103,929 in Q2 2012 to 109,405 in Q3 2012.
Japanese nationals made up 24% of the total. In addition, work permits of Chinese nationals increased by 15% Q-o-Q.
Nine projects were launched in Q3 2012 in the downtown area. The number of newly launched units increased from 808 units in the previous quarter to 5,372 units in this quarter. Fifty-seven percent of the units in newly launched projects were one-bedroom, followed by two-bedroom units accounting for 17%.
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.
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