Economic slowdown and rental decreases in Bangkok

    Feb 02, 2021 @ 07:45 AM / by Francois Wiedenmann

    Bangkok skyline at night

    From flourishing to stalled

    Before COVID-19, Bangkok’s economy was flourishing with new real estate projects and infrastructure developments that improved living conditions for Bangkok residents.

    Rents decreased over the last year as the pandemic halted most projects and slowed Thailand’s tourism and manufacturing industries. Rental supply increased as short-term units were converted to long-term rentals, and there have been fewer expatriate arrivals since January 2020.

    Some assignees remained in Bangkok and chose to renew their lease. AIRINC's real estate sources note that landlords are well aware of the difficult market conditions and that many have showed flexibility with asking rents. However, in order to get rent discounts, some tenants are required to provide written proof of a salary reduction or bonus cuts.


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    On-site Insight: 

    This post is part of AIRINC's On-site Insight series. On-site Insight provides readers with an exclusive “behind-the-surveys” perspective of new and existing expatriate locations based on commentary and photos from our global research team. Included is information on general living conditions as well as changing costs for both Goods & Services and Housing & Utilities, along with much, much more.


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    Topics: Housing, On-site Insight, Hardship, Global Mobility, Insights and Experience, Calculate a housing budget, International Housing Guide, Thailand, Bangkok

    Francois Wiedenmann

    Written by Francois Wiedenmann