Bangkok Office Market — Vacancy, Rent & Trends
As of Mar 2026, OfficeBangkok tracks 302 office buildings totalling 8,713,238 sqm of net leasable area. Estimated occupancy is 76.2% (about 2,069,740 sqm verified available), with an area-weighted asking rent of ฿876/sqm/month (median ฿670).
As of Mar 2026. OfficeBangkok's database holds 365 active buildings; 302 have complete NLA data used for the occupancy calculation. Occupancy is an estimate from verified available space (1 − available ÷ NLA); rent is asking rent, area-weighted. Vacancy totals are rounded. "Available units" counts listed vacant spaces (a building can have several).
Key findings
- In the like-for-like panel of 203 buildings, verified available space rose from 570,277 sqm in 2016 to 1,165,340 sqm in 2025 — about 104%.
- Over the same period, weighted asking rent moved from ฿712 to ฿764/sqm/month — about 7%.
- Available space grew far faster than rent, indicating some landlords have not cut asking rents in line with rising vacancy.
- Rama 4 has the most available space, about 308,479 sqm, and among the highest weighted rents (฿1,155/sqm/month).
- Krung Thonburi has the highest estimated occupancy (~96.9%), though it is a smaller market than the core CBD.
- Phloen Chit is among the lowest-occupancy large markets (~59.8%).
OfficeBangkok Index — 10-year trend (2016–2025)
Like-for-like: a fixed panel of 203 buildings present every survey year, indexed to 2016 = 100. Removes coverage growth so the trend reflects the real market.
| Year | Available (sqm) | Index | Rent ฿/sqm | Index |
|---|---|---|---|---|
| 2016 | 570,277 | 100 | ฿712 | 100 |
| 2017 | 499,002 | 88 | ฿657 | 92 |
| 2018 | 488,331 | 86 | ฿649 | 91 |
| 2019 | 475,814 | 83 | ฿668 | 94 |
| 2020 | 598,567 | 105 | ฿693 | 97 |
| 2021 | 735,704 | 129 | ฿709 | 100 |
| 2022 | 772,185 | 135 | ฿714 | 100 |
| 2023 | 856,439 | 150 | ฿732 | 103 |
| 2024 | 1,038,337 | 182 | ฿764 | 107 |
| 2025 | 1,165,340 | 204 | ฿764 | 107 |
Why vacancy rose but rent held
The data above are facts from our database. The following is our interpretation, based on 20+ years advising Bangkok tenants: much of the rise in available space came from new Grade-A supply completing after 2019, while hybrid work reduced how much space existing tenants renew. As newer, better buildings compete, occupiers move up ("flight to quality"), leaving older stock vacant.
Asking rents lag because landlords often hold headline (asking) rents and negotiate incentives instead — so the gap between asking rent shown here and effective (post-incentive) rent tends to widen in a tenant's market.
By area
Weighted rent (฿876) weights each vacant space by its size, so large Grade-A floors count more; the median (฿670) is the mid-point building rent, less affected by a few expensive towers.
| Area | NLA | Occupancy | Available | Rent ฿/sqm |
|---|---|---|---|---|
| Bangna | 1,010,241 | 84.5% | 156,747 | ฿626 |
| Sukhumvit | 931,111 | 74% | 242,433 | ฿998 |
| Sathorn | 853,945 | 73.1% | 229,601 | ฿924 |
| Rama 4 | 779,618 | 60.4% | 308,479 | ฿1,155 |
| Chidlom | 573,077 | 78.4% | 123,994 | ฿971 |
| Rama 9 | 544,578 | 81.9% | 98,587 | ฿662 |
| Ratchadapisek | 448,109 | 84.9% | 67,859 | ฿614 |
| Silom | 447,988 | 76.1% | 106,880 | ฿961 |
| Asok | 447,197 | 82.7% | 77,205 | ฿687 |
| New Petchburi | 402,770 | 79.2% | 83,921 | ฿618 |
| Phahonyothin | 396,115 | 77.2% | 90,172 | ฿786 |
| Phaya Thai | 380,409 | 72.5% | 104,797 | ฿957 |
| Phloen Chit | 358,625 | 59.8% | 144,192 | ฿1,045 |
| Surawong | 255,363 | 91.3% | 22,229 | ฿520 |
| Rama 3 | 240,795 | 71.4% | 68,982 | ฿773 |
| Krung Thonburi | 149,765 | 96.9% | 4,575 | ฿557 |
| Ramkhamhaeng | 136,338 | 58.8% | 56,229 | ฿526 |
| Naradhiwat Rajanagarindra | 128,856 | 63.7% | 46,814 | ฿607 |
| Vibhavadi Rangsit | 96,056 | 86.7% | 12,729 | ฿663 |
| Chaeng Watthana | 78,000 | 91.4% | 6,681 | ฿623 |
| Srinagarindra | 36,935 | 65.7% | 12,685 | ฿418 |
| Ratchadamri | 17,347 | 77.2% | 3,948 | ฿700 |
For tenants
A tenant's market: more choice, room to negotiate rent-free periods and fit-out contributions, and a chance to upgrade to newer buildings at rents close to older stock. Compare areas before committing.
For building owners
Benchmark your building's rent and vacancy against your area here. Retention and building upgrades matter more than headline rent when newer supply is competing for the same tenants.
How we measure
Figures cover the office buildings OfficeBangkok tracks (net leasable area). "Available" is space we have verified as offered for lease; occupancy is an estimate (1 − available ÷ NLA), not a full-market census. Rents are asking rents, area-weighted. The Index uses a fixed panel of 203 buildings present every year, so it is not distorted by coverage growth. · Verified Mar 2026
Data limitations
- This is not a census of every building in Bangkok; it covers the buildings OfficeBangkok tracks.
- Figures are based on space we have verified as offered for lease.
- Rents are asking rents and exclude incentives, rent-free periods and discounts (effective rent is lower).
- Some space is offered in several sizes, and a building can list several units.
- Occupancy is therefore an estimate, not an owner-certified leased rate.
Download the data
Bangkok office market 2016–2025 (CSV) — free to reuse under CC BY 4.0 with attribution to OfficeBangkok.com.
⬇️ Download CSVFAQ
What is the Bangkok office occupancy rate?
As of Mar 2026, estimated occupancy is 76.2% (23.8% available / vacant) across 302 buildings and 8,713,238 sqm of net leasable area that OfficeBangkok verifies. This is an estimate from verified available space, not a full-market census.
What is the average office rent in Bangkok?
The area-weighted asking rent is ฿876/sqm/month and the median ฿670, as of Mar 2026. Figures are asking rents, not effective (post-incentive) rents.
What does the OfficeBangkok Index show?
A like-for-like trend from 203 buildings tracked every year: available space and asking rent, indexed to the first year = 100. It removes coverage changes so the trend reflects the real market, not our dataset growth.