Office Market

• In the first quarter of 2025, total office spaces in Bangkok reached 9,932,652 square meters, generating a 1.1 percent increase from 9,827,422 square meters in the fourth quarter of 2024. All office spaces opened in Q1 were mixed-use developments located outside the CBD. 
• Demand in the office market remained soft amid the continued increase in office space. The lower usage of office spaces is attributed to the popularity of the hybrid working policy and has a continuous effect on the demand for office spaces.  Therefore, the occupancy rate of office space could not keep pace with the increase in new office spaces in the CBD and non-CBD areas.  
• However, the increasing requirements for green building standards offered by new office buildings raised the average occupancy rate for Bangkok office spaces in Q1, and slightly increased to 82.19 percent, compared with 81.97 percent in Q4 last year.  

• Many new office buildings are planned to open in the remaining quarter of 2025. However, the unfavorable economic situation will lead developers to delay opening these buildings until there is a clear signal of global economic trend.

Bangkok Office Supply

Source: Ascend Business Service Research (May 2025)