Continuing Political unrest gives Bangkok developers the jitters | Bangkok Post: news

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Continuing Political unrest gives Bangkok developers the jitters

Demonstrations and rallies have taken their toll on retail and hotel space

  • Published: | Viewed: 3,378 | Comments: 0
  • Newspaper section: Spectrum
  • Writer: Andrew Gulbrandson
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While the ongoing political turmoil has affected all sectors of the Bangkok property market, the extent to which each sector has been affected varies, with hotels and retail suffering the most and the office sector remaining resilient thanks to strong market fundamentals. 

creating uncertainty: The Bangkok shutdown had a negative impact on prime retail space.

Hotels and prime retail centres hit hardest: Operators of hotels and prime retail centres in Bangkok have seen the greatest impact from the tensions that have built ever since protests against the now-dead amnesty bill began in early November. According to figures from the Thai Hotel Association, in the high season from November to January, average hotel occupancy in the capital hovered at about 50%, well below the typical 80% rate.

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