Thailand Business News –
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Companies are looking at more creative ways to fit more people in their current space and overall rental increases are being impacted by deals being agreed with rental caps in place. Jones Lang LaSalle’s market experts have shared their expectations for the office leasing markets in Asia Pacific in the second quarter of 2012. In the markets that were experiencing office rental declines in previous quarters, the teams are anticipating a slowdown in the rate of decline, for example a three to four percent fall in Grade A office rents this quarter in Hong Kong compared to an actual 6.3 per cent decline in the first quarter. Similarly, in Singapore a fall of three percent is anticipated by the end of the current quarter, compared to an actual 5.2 percent decline in Q1 2012 |
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Office Rents in Asia Pacific Hold Steady in Q2 (Jones Lang LaSalle)
4 billion baht.
Developers with solid projects have access to financing while buyers have access to credit.
But if the government invests in mass transit routes, adding one or two new lines in the future, new residential and commercial areas will be created. Property tax incentives implemented by the government of Thailand to stimulate the sluggish market expired on May 30 as it was no longer a need for the tax breaks as the economy was recovering, the property sector had grown by 10% over the past year, and developers’ margins were improving. Governments have used tax incentives to stimulate the property market during most economic slumps since the 1997 Asian financial crisis.
