- Home » Expat News » Expats working in Bangkok to face swinging rent increases
Expats working in Bangkok to face swinging rent increases
| Published: | 23 Oct at 6 PM |
Want to get involved?
Become a Featured Expat and take our interview.
Become a Local Expert and contribute articles.
Get in touch today!
Become a Local Expert and contribute articles.
Get in touch today!
Rental agents based in Bangkok are warning that rentals in the city’s most popular expat areas are expected to rise sharply due to a shortage of suitable properties.
Expat-standard residential property rents in the centre of Bangkok have remained stable for several decades, but are about to rise due to spiralling demand for two and three bedroomed condo units in Suhkumvit, Sathorn and Silom districts. Although the number of available condos in the areas has surged by around 80 per cent over the last few years, most offer studios or one-bedroomed apartments.
Demand in the mid-to-upper end of Bangkok’s expat housing market has shifted towards two and three-bedroomed accommodation since the start of 2010, indicating that expat workers are bringing their families with them when they take on new contracts. Occupancy in the popular expat areas of central Bangkok is running at 90 per cent, and the new condo blocks under construction in the area contain only 30 per cent of larger apartments.
It’s expected that expats working in the city will need higher housing allowances to cope with increased rents, with relocation to less central areas the only option for many. Estimates suggest that around 65,000 expats are working under work permits in the city, a 10 per cent increase over last year, and the figure does not include diplomats or those living in the central areas and working in the suburbs or outside the city.
Expat-standard residential property rents in the centre of Bangkok have remained stable for several decades, but are about to rise due to spiralling demand for two and three bedroomed condo units in Suhkumvit, Sathorn and Silom districts. Although the number of available condos in the areas has surged by around 80 per cent over the last few years, most offer studios or one-bedroomed apartments.
Demand in the mid-to-upper end of Bangkok’s expat housing market has shifted towards two and three-bedroomed accommodation since the start of 2010, indicating that expat workers are bringing their families with them when they take on new contracts. Occupancy in the popular expat areas of central Bangkok is running at 90 per cent, and the new condo blocks under construction in the area contain only 30 per cent of larger apartments.
It’s expected that expats working in the city will need higher housing allowances to cope with increased rents, with relocation to less central areas the only option for many. Estimates suggest that around 65,000 expats are working under work permits in the city, a 10 per cent increase over last year, and the figure does not include diplomats or those living in the central areas and working in the suburbs or outside the city.
Comments » No published comments just yet for this article...
Feel free to have your say on this item. Go on... be the first!
