Retail Supply in Bangkok Develops Despite Depressing Attitude
At the same time as the global financial recession continues to have influence on home purchaser’s spending and buoyancy, Thai developers are moving ahead with plans for fresh retail space in the country’s capital Bangkok stated a recent report of Colliers International.
Just about 700,000 square meter of fresh retail space is likely to appear online in Bangkok by the end of 2009, adding to the 4.97m that was present till the end of 2008. By 2011, retail space is estimated to have gone up by nearly 27%.
As of the end of 2008, shopping malls accounted for just 59.9 % of the entire retail space in the capital, after that comes hypermarkets at approximately 13.4 % and community malls at around 7.39 %. The left over space comprises of department stores, entertainment complexes or specialty stores.
On the whole, the occupancy rate for retail space in 2008 was nearly 94.7 %, although assorted as per location and business class, stated Colliers.
The usual rental rate for retail space gone down by nearly 13 % on average by the end of 2008, with fall of 10-12 % in the outer and suburban regions, as developers made available discounts to hold tenants.
Colliers said projections for retailing did not emerge vivid for 2009. At the same time as government incentive measures would support to a certain extent, buying power and consumer buoyancy will continue to be weak.
Just about 700,000 square meter of fresh retail space is likely to appear online in Bangkok by the end of 2009, adding to the 4.97m that was present till the end of 2008. By 2011, retail space is estimated to have gone up by nearly 27%.
As of the end of 2008, shopping malls accounted for just 59.9 % of the entire retail space in the capital, after that comes hypermarkets at approximately 13.4 % and community malls at around 7.39 %. The left over space comprises of department stores, entertainment complexes or specialty stores.
On the whole, the occupancy rate for retail space in 2008 was nearly 94.7 %, although assorted as per location and business class, stated Colliers.
The usual rental rate for retail space gone down by nearly 13 % on average by the end of 2008, with fall of 10-12 % in the outer and suburban regions, as developers made available discounts to hold tenants.
Colliers said projections for retailing did not emerge vivid for 2009. At the same time as government incentive measures would support to a certain extent, buying power and consumer buoyancy will continue to be weak.
Labels: occupancy rate, rental rate, retail space
Posted by Moveandstay
|
0 Comments:
Post a Comment
<< Home