Flat demand expanding Demand for serviced apartments in Bangkok is expected to remain strong, following a growing number of new work permits and permission granted to rent units on a short-term basis after a hotel licence is obtained, research by Jones Lang LaSalle said.
The number of new work permits issued in the capital rose from 18,469 in 2004 to 21,540 last year. Average occupancy rates have risen slightly, while the average occupancy rate for prime-grade buildings has remained stable, as new projects opened late last year. In January 2005, the occupancy rate in Bangkok's central business district was 81.2 per cent. That grew to 84.7 per cent as of the end of this past January.
Demand for serviced apartments led to a rise in rents.
