The Commercial Real Estate market in Thailand has been experiencing significant growth and development in recent years.
Customer preferences: Customers in the Commercial Real Estate market in Thailand are increasingly looking for modern and well-designed office spaces that can accommodate their growing businesses. They are also seeking locations that offer convenient access to transportation and amenities such as restaurants, shopping centers, and recreational facilities. Additionally, there is a growing demand for flexible office spaces that can be easily customized and adapted to the changing needs of businesses.
Trends in the market: One of the key trends in the Commercial Real Estate market in Thailand is the increasing popularity of co-working spaces. This trend is driven by the rise of startups and small businesses that are looking for cost-effective office solutions and the flexibility to scale up or down as needed. Co-working spaces provide a collaborative and innovative work environment that appeals to these businesses. Another trend in the market is the development of mixed-use projects that combine office spaces with retail, residential, and recreational facilities. These projects are designed to create vibrant and self-contained communities where people can live, work, and play in one location. This trend is driven by the desire for convenience and the need to optimize land use in urban areas.
Local special circumstances: Thailand's strategic location in Southeast Asia and its strong economic growth have attracted foreign investors to the Commercial Real Estate market. The government has also implemented policies to encourage foreign investment and simplify the process of doing business in the country. These factors have contributed to the increasing number of international companies establishing their presence in Thailand, leading to a higher demand for office spaces.
Underlying macroeconomic factors: Thailand's strong economic growth, stable political environment, and growing middle class have contributed to the development of the Commercial Real Estate market. The country has seen a rise in foreign direct investment, particularly in the manufacturing and service sectors, which has driven the demand for office spaces. Additionally, the government's infrastructure development plans, such as the Eastern Economic Corridor project, are expected to further boost the Commercial Real Estate market by attracting more businesses and investors to the country. Overall, the Commercial Real Estate market in Thailand is experiencing growth and development due to customer preferences for modern and flexible office spaces, the rise of co-working spaces, the development of mixed-use projects, the increasing number of international companies setting up operations in the country, and the underlying macroeconomic factors such as strong economic growth and government policies to attract foreign investment.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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