Bangkok ranks world’s top three most affordable premium office locations

BANGKOK, Dec 27 (TNA) – Bangkok is among top three most affordable premium office rents, according a survey by JLL, a leading professional services firm that specializes in real estate and investment management. The latest JLL report compiled the data on the premium office rents in 45 business locations globally. JLL says rental costs of premium office in Bangkok increase for seven consecutive years but Bangkok is ranked in top three of the world's most competitively priced premium space, along with Kuala Lumpur and Manila. Kuala Lumpur is the top of the list for the most competitively priced premium space at 875 baht per square metre per month, followed by Bangkok and Manila in the second place together for the rental cost of about 1,020 baht per square metre per month on average. The findings disclose that the most expensive premium office rent in the world is in Hong Kong at about 9,412 baht per square metre per month, followed by New York at 5,653 baht per square metre per month, London at 5,624 baht per square metre per month, Beijing at 5,537 baht per square metre per month and Silicon Valley at 4,604 baht per square metre per month. Suphin Mechuchep, Managing Director for JLL’s Property & Asset Management division said that the affordable rental cost of premium office in Bangkok makes it more competitive as the office rent is the main capital cost in business operation. In the Asia Pacific region, the premium office rent is higher than that in other regions. According to the JLL reports it costs around 3,234 baht per square metre per month, compared to 2,477 baht per square metre per month on average in America and about 2,273 baht per square per month on average in Europe and the Middle East. (TNA)