Bangkok's commercial space is plentiful and available for some of the cheapest prices in Asia. The average rent per square metre in the central business district comes in at just over 740 baht per month. Compare that with the Tokyo average of 4,750 baht per square metre for prime office space, and Bangkok begins to look very competitive indeed.
This is partly because a dip in the domestic economy during 2006 and the first half of 2007 means demand has slipped slightly, keeping rental prices low. That said, the office occupancy rate for buildings in Bangkok's CBD are still very high, at over 90% in the first half of 2007. An average of 13% of Bangkok's total office space is currently vacant. The completion of several new office buildings in the next 12 months however - including the 37,000 square-metre Athenee Tower on Wireless Road, and the 90,000 square metre Chamchuri Square on Rama IV Road - looks set to reduce that push that figure somewhat higher. Great news for you, the businessman, is that this increase in supply is likely to make landlords even more zealous in keeping rents low in an attempt to attract new tenants.
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Choosing a suitable office location depends on a number of factors, such as your budget or the nature of your business. The bottom line is your company's registered office should be a legitimate place of business, especially when registering for VAT. A prime address reflects prestige and image but naturally incurs higher rents. You'll have to weigh off your priorities and an expensive location might not be justifiable.
Office areas in Bangkok are concentrated around the CBD which roughly covers Silom, Sathorn, Wireless and Sukhumvit roads and their sub-sois. However, office properties are available throughout town. The opening of the new Suvarnabhumi International Airport has opened up a new market for commercial properties in its vicinity with several office property developments.
Learn more: Types of Accommodation, Business Hotel Recommendations (Chidlom Ploenchit, Sathorn and Sukhumvit areas), After Business, Busines Dining, Business Essentials |
