Post by account_disabled on Feb 28, 2024 2:12:16 GMT -8
Knight Frank Thailand reveals the overall office market in Bangkok for the third quarter of 2020. Mr. Marcus Burtenshaw, Executive Director and Head of Brokerage Department, Knight Frank Thailand Company Limited, revealed that “At present, many companies are beginning to allow employees 'Work from anywhere' has increased, resulting in an increase in the number of unused desks in many office buildings in Bangkok. This excess space may be known in the business as 'shadow space'. Shadow space is a percentage of vacant space that is hidden in the market. Tenants generally cannot relinquish additional space. This amount can be given to the building owner before the end of the lease term. Unless the tenant is able to find another tenant to replace the said space.
Therefore, tenants with excess space may find themselves in a position Portugal Phone Number of competing with landlords for new tenants. And then the shadow area How much space is there in Bangkok? In fact The amount of this unused or underused space can be difficult to quantify. For building owners These spaces are still rented and they continue to receive the same rental income. So those empty desks aren't counted in a building's vacancy rate. But what we do know is that officially recorded occupancy rates are falling, so if new supply enters the market, shadow spaces may deliver The impact on this additional supply dynamic is.” Office market indicators Market-Indicators-1024x327 Economic overview Thailand's GDP shrank 6.4% year-on-year (YoY) in the third quarter of 2020, an improvement from a 12.1% contraction in the previous quarter. During the first 9 months of 2020, the Thai economy contracted. down 6.7% Private consumption spending decreased by 0.6%, which improved from a contraction of 6.8% in the second quarter.
Non-durable goods and most services expanded by 2.7% and 3.8%, respectively. This is a result of the relaxation of lockdown measures and the implementation of government policies to combat the dire effects of COVID-19. This has resulted in some recovery in economic activity and domestic consumption. Government spending expanded 3.4%, following a 1.3% expansion in the previous quarter, while total investment decreased 2.4%, improving from a contraction of 8.0% in the second quarter. 2 Private sector investment decreased by 10.7%, as machinery investment decreased by 14.0%. On the other hand, government investment expanded significantly, increasing by 18.5%. This was supported by Mainly from an expansion of up to 18.4% in the public machinery sector and 18.6% in the public construction sector. Export imports of goods and services fell 23.5% and 20.3%, respectively. Decreasing global demand for industrial, agricultural and manufacturing products continued to affect merchandise exports, which fell 7.7%. Weak domestic purchasing power and low private sector demand As a result, imports of goods decreased by 17.0%.
Therefore, tenants with excess space may find themselves in a position Portugal Phone Number of competing with landlords for new tenants. And then the shadow area How much space is there in Bangkok? In fact The amount of this unused or underused space can be difficult to quantify. For building owners These spaces are still rented and they continue to receive the same rental income. So those empty desks aren't counted in a building's vacancy rate. But what we do know is that officially recorded occupancy rates are falling, so if new supply enters the market, shadow spaces may deliver The impact on this additional supply dynamic is.” Office market indicators Market-Indicators-1024x327 Economic overview Thailand's GDP shrank 6.4% year-on-year (YoY) in the third quarter of 2020, an improvement from a 12.1% contraction in the previous quarter. During the first 9 months of 2020, the Thai economy contracted. down 6.7% Private consumption spending decreased by 0.6%, which improved from a contraction of 6.8% in the second quarter.
Non-durable goods and most services expanded by 2.7% and 3.8%, respectively. This is a result of the relaxation of lockdown measures and the implementation of government policies to combat the dire effects of COVID-19. This has resulted in some recovery in economic activity and domestic consumption. Government spending expanded 3.4%, following a 1.3% expansion in the previous quarter, while total investment decreased 2.4%, improving from a contraction of 8.0% in the second quarter. 2 Private sector investment decreased by 10.7%, as machinery investment decreased by 14.0%. On the other hand, government investment expanded significantly, increasing by 18.5%. This was supported by Mainly from an expansion of up to 18.4% in the public machinery sector and 18.6% in the public construction sector. Export imports of goods and services fell 23.5% and 20.3%, respectively. Decreasing global demand for industrial, agricultural and manufacturing products continued to affect merchandise exports, which fell 7.7%. Weak domestic purchasing power and low private sector demand As a result, imports of goods decreased by 17.0%.