Bangkok
Space Unit of Measure
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Financial Data Currency[1]
Yes
Transfer Taxes
Office Occupier Market Condition
Ease of Doing Business – How conducive is the regulatory environment to starting and operating a business. Source: The World Bank, Doing Business – 2020
Labor Cost – Wages for skilled office workers. Source: Global Wage Index, Hickey & Associates 2020
Taxes – Favorability of taxation policies to business. Source: The World Bank, Doing Business – 2020
Tenant Favorable – Assessment of the real estate market condition for office space. Source: Colliers International
Typical Loss Factor
15 - 25%From rentable to useable square meters
Loss Factor Notes:
Rentable area includes carpark. Therefore, without accounting for carpark, the loss factor is 15 - 25%.Landlord Concessions
Fit-Out Concession
Rent-Free Period
Standard Range of Rent-Free Months
1mo.-5mo.Typical number of rent-free months.
Payment of Fees/Commissions
Lease Provisions
Lease Term
3yrs.-9yrs.Typical lease term in years.
Lease Term Notes:
The typical lease term is 3 years. Longer leases need to be registered and a tax is payable. Therefore, longer leases tend to be in multiples of 3 years (i.e., 3 + 3 + 3).Or, if the tenant wants to register the lease, the maximum term is 30 years, but those are very rare in the market.
Operating Expenses & Service Charges Included
Additional Charges:
Service Charge Notes:
Additional charges are applicable for the building maintenance.Based on consumption basis.
Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Negotiated Subletting/Assignment
Landlord Consent: Typically, the landlord's written consent IS still required.
Negotiated Subletting/Assignment Notes:
Unless requested for subsidiaries.Statutory Subletting/Assignment
Blend & Extend Strategies
Statutory Early Termination
Negotiated Early Termination
Workplace
Regional Office Space
8sm-15smTypical Square Meters per employee (includes office square footage for employees and contractors).
Regional HQ Office Space
8sm-15smTypical Square Meters per employee (includes office square footage for employees and contractors).
Bangkok market is typical.
Desk Sharing
Urbanization of the workforce is: Equal to several other considerations driving location decisions
Industrial Occupier Market Condition
Ease of Doing Business – How conducive is the regulatory environment to starting and operating a business. Source: The World Bank, Doing Business – 2020
Labor Cost – Wages for manuafacturing and warehouse/distribution office workers. Source: Global Wage Index, Hickey & Associates 2020
Taxes – Favorability of taxation policies to business. Source: The World Bank, Doing Business – 2020
Tenant Favorable – Assessment of the real estate market condition for industrial space. Source: Colliers International
Landlord Concessions
Fit-Out Concession
Rent-Free Period
Standard Range of Rent-Free Months
3mo.-6mo.Typical number of rent-free months.
Payment of Fees/Commissions
Lease Provisions
Lease Term
3yrs.-10yrs.Typical lease term in years.
Lease Term Notes:
The typical lease term is 3 years. Longer leases need to be registered and a tax is payable. Therefore, longer leases tend to be in multiples of 3 years (i.e., 3 + 3 + 3).Or, if the tenant wants to register the lease, the maximum term is 30 years, but those are very rare in the market.
Operating Expenses & Service Charges Included
Additional Charges:
Service Charge Notes:
Additional charges are applicable for the building maintenance.Based on consumption basis.
Lease Fundamentals: The following apply to both office and industrial leases.
Lease Execution Requirements:
Negotiated Subletting/Assignment
Landlord Consent: Typically, the landlord's written consent IS still required.
Negotiated Subletting/Assignment Notes:
Unless requested for subsidiaries.Statutory Subletting/Assignment
Blend & Extend Strategies
Statutory Early Termination
Negotiated Early Termination
Operating Environment Data provided in partnership with Hickey & Associates. Rankings reported on a scale of 1 (least favorable) to 10 (most favorable).
Human Capital
Labor Force Growth
Labor force growth rate (past 5 years)
Wage Inflation
Rise in wages (past 5 years, local currency)
Millenials
Proportion of population in the age 20-39 cohort
High School Edu Equiv
Proportion of population attaining this level
University Edu
Proportion of population attaining this level
Overall Edu
Composite average of High School & University
Human Capital Composite
Business Climate
Innovation
Presence of innovative factors in economy
Economic Risk
Resilience of economy to unexpected events
Business Environment
Friendliness of business environment
Incentives
Value potential, diversity/number of programs
Business Climate Composite
Operating Environment Composite
Combined average score of Human Capital and Business Climate factors