CBRE Research's 2018 Prime Office Occupancy Costs report which surveys rent prices for the most prime office buildings across 120 cities around the world has been released.

2018 Prime Office Occupancy Costs at a glance:

• Bangkok achieved average rent prices of THB 1,186 per square metre per month. 
• Palma de Mallorca, Spain achieved cheapest prices at THB 505 per square metre per month. 
• Durban in South Africa had the biggest increase with a 21.4% rise compared to last year.
• Bangkok saw the second largest annual increases in prime rents, seeing 16.9% annual increases in US dollar terms.

The survey's data indicates Bangkok was the 92nd most expensive city with the most prime offices as of Q1 2018, achieving average rent prices at THB 1,186 per square metre per month.

Hong Kong (Central) had the most expensive prime office rents at THB 8,673 per square metre per month. This is followed by London's West End and Beijing's Finance Street at THB 6,649 and THB 5,684 per square metre per month, respectively. 

Source: CBRE Thailand

Palma de Mallorca, Spain, had the cheapest prime office rent out of the total 120 cities in the survey achieving rents of only THB 505 per square metre per month. Cape Town, South Africa and Montreal (Suburban), Canada, were the second and third cheapest office rents at THB 587 and THB 632 per square metre per month.

According to CBRE, Bangkok saw the second largest annual increases in prime rents with the best buildings like Gaysorn Tower at Ratchaprasong intersections, seeing 16.9% annual increases in US dollar terms.

Durban in South Africa had the biggest increase with a 21.4% rise compared to last year. And at the other end of the scale, Dubai, Shanghai (Puxi), and Midtown Manhattan, New York saw the biggest drops in rental with falls between 9.4% - 15.4%.

CBRE Research anticipates that Bangkok's office rents will continue to rise for the next three years and that the best buildings will command a premium over average grade A office rents. 

For more information about CBRE 2018 Prime Office Occupancy Costs report phone or email Ngamjai Jearrajarat of CBRE Thailand via the contact details listed below. 

Source: CBRE Research

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