Thailand

Over 8,000 keys are expected to be added this year.

This will add over 300,000sqm to the city’s prime retail stock.

Expect a higher vacancy rate as a result.

Meanwhile, the vacancy rate increased to 19.9%.

The leadership of its CEO also allowed the company to navigate Thailand’s political upheaval and the pandemic rather well. 

A big bulk of these units are in the ultra luxury segment. 

There is 297,000sqm of supply expected to complete by the end of this year.

Rents in this city dipped by 0.1%, its first decline since the pandemic began.

These properties account for a total of 518 keys.

This is equivalent to 3,573 units.

That is if two projects are completed as scheduled.

Half of the deals are flight-to-quality transactions.

New supply is expected to reach 950,500sqm over the next five years.

This was from four real estate deals.

New supply is expected to reach 377,000sqm by end-2022.

This reflects a 6.8% decline compared to Q2 2021.