Expat demand keeps Sukhumvit dominant in rental market

The Sukhumvit corridor continued to dominate downtown Bangkok's rental housing market in the second quarter, with expatriate demand, particularly from the Japanese, supporting high occupancy and driving rents up despite a slight quarterly dip.

- KANANA KATHARANGSIPORN

Chotika Tungsirisurp, head of consulting and research at property consultancy CBRE Thailand, said Sukhumvit accounted for the majority of both serviced apartment and apartment supply, representing 65% and 86% of the total, respectively.

At the end of June 2025, the total supply of serviced apartments in downtown Bangkok tallied 17,729 units, up 3.5% from the previous quarter following new completions in Sukhumvit.

The apartment sector remained unchanged at 8,668 units, with no new projects completed during the period, according to CBRE.

In terms of leasing activity, CBRE reported two-bedroom and three-bedroom serviced apartments each made up a significant share of transactions, at 33% and 30%, respectively.

For apartments, two-bedroom units were the most popular, accounting for 38% of all transactions.