Vacancy rates in the Bangkok office market rose 3.35% during 2009.
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Research from Knight Frank Thailand has revealed vacancy rates in the Bangkok office market increased on average by 3.35 per cent during 2009.
The firm reported that, in light of the economic climate, most firms cancelled expansion plans and froze recruitment for all but the most essential positions. Many embarked on efficiency drives to make better use of the space they occupy and returned space which became surplus to their requirements.
The report, published last week, noted: “Whilst this modest improvement is in line with anecdotal accounts of an improving business climate, we remain reluctant to describe this as a beginning of a trend at this stage. The economy is still in a weakened state subject to stability in the political arena and amid concerns about a double dip in Thailand’s major export markets, the U.S. and Chinese economies.”
The report, published last week, noted: “Whilst this modest improvement is in line with anecdotal accounts of an improving business climate, we remain reluctant to describe this as a beginning of a trend at this stage. The economy is still in a weakened state subject to stability in the political arena and amid concerns about a double dip in Thailand’s major export markets, the U.S. and Chinese economies.”
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