Non-CBD offices lead demand as tenants move beyond Bangkok’s core

Non-CBD offices lead demand as tenants move beyond Bangkok’s core

Bangkok, May 2026 – Bangkok’s office market is undergoing a gradual decentralisation, with demand increasingly shifting towards non-CBD locations as occupiers seek greater value and flexibility.

In the first quarter of 2026, non-CBD areas recorded significantly stronger net absorption compared to the CBD, driven by a combination of new supply and changing occupier preferences. This trend highlights a growing willingness among companies to look beyond traditional core locations when selecting office space.

Importantly, this shift does not reflect a broad relocation away from the CBD, but rather an upgrading trend within the non-CBD market itself. A growing number of Grade A office buildings have been developed in decentralised locations, offering specifications comparable to those found in prime CBD areas but at more competitive rental levels.

This increasing availability of high-quality space has been a key factor in attracting tenants. Companies are no longer constrained to the CBD when seeking premium office environments, allowing them to balance cost considerations with workplace quality.

At the same time, occupiers are placing greater emphasis on employee accessibility. More detailed analysis of workforce commuting patterns has revealed that certain non-CBD locations can offer more convenient access for employees, helping to reduce travel time and improve overall workplace satisfaction.

These factors are contributing to stronger occupancy growth in non-CBD areas, which continue to outperform the CBD in terms of demand momentum. Rental performance has also remained relatively stable in decentralised markets, in contrast to slight declines observed in core locations.

Despite this shift, the CBD continues to play a central role in Bangkok’s office market, particularly for companies that prioritise prestige, connectivity, and proximity to key business districts. However, the gap between CBD and non-CBD locations is narrowing as the quality of space outside the core continues to improve.

Looking ahead, the decentralisation trend is expected to persist, supported by ongoing development of Grade A buildings in emerging locations. Combined with a substantial pipeline of new supply in 2026, this will continue to provide occupiers with a broader range of options and reinforce competition across all sub-markets.

Panya Jenkitvatanalert, Partner and Head of Office Strategy, Knight Frank Thailand said “This is not just a decentralisation of locations, but a decentralisation of quality—reshaping how competition is defined across Bangkok’s office market. Occupiers now have greater access to high-specification space beyond the CBD, without compromising on quality. At the same time, employee accessibility and commuting efficiency are becoming more influential in location decisions.”