2026-09-04-莱坊-Thailand_Logistics_Property_Market_H1_2026_9页_4mb

Thailand Logistics Market Summary (H1 2026)

Core Content

Thailand's logistics market remained resilient in H1 2026, driven by strong export growth, manufacturing expansion, and sustained logistics activity. The market demonstrated solid performance in both supply and demand, with healthy leasing activity and stable rental rates.

Key Market Indicators

• Total Warehouse Supply: Increased to 6.69 million sq m.
• Occupied Space: Rose to 6.04 million sq m.
• Occupancy Rate: Reached 90.2%, up from previous levels.
• Average Asking Rent: Slightly increased to THB 163.1 per sq m per month.
• New Supply: Added 72,610 sq m in H1 2026.
• Net Absorption: Approximately 147,946 sq m.
• Take-Up: Approximately 261,581 sq m.
• Future Supply (H2 2026): 131,582 sq m under construction, with a significant portion pre-committed.
• Future Supply (2027): Expected to add 294,853 sq m, with 42.5% in BMR and 41.1% in EEC.

Regional Supply Distribution

• Bangkok Metropolitan Region (BMR): Largest warehouse market, accounting for 44.4% of the national net lettable area.
• Eastern Economic Corridor (EEC): Second-largest, contributing 39.8% of the national net lettable area.
• Central Region: Smallest, with 15.5% of the national net lettable area.

Regional Occupancy Rates

• Total: 90.2% (up 1.2% H-o-H, 4.4% Y-o-Y).
• BMR: 94.0% (up 1.4% H-o-H, 3.4% Y-o-Y).
• EEC: 85.1% (up 1.6% H-o-H, 5.0% Y-o-Y).
• Central Region: 92.1% (up 0.1% H-o-H, 5.6% Y-o-Y).

Demand Dynamics

• Warehouse Take-Up: Approximately 261,581 sq m.
• Net Absorption: Approximately 147,946 sq m.
• Demand Drivers: Strong export growth (17.8% YoY), increased manufacturing output, and robust import activity, particularly in capital goods and intermediate materials.
• Key Sectors: Electronics and electrical appliances, computer parts, and telecommunication equipment saw significant growth in exports, driving demand for warehousing and logistics facilities.

Rental Rates

• Average Asking Rent: THB 163.1 per sq m per month.
• Regional Trends:
  • BMR: Increased from THB 163.7 to THB 164.4.
  • EEC: Rose from THB 163.1 to THB 165.2.
  • Central Region: Slightly increased to THB 154.7.
  • Other Regions: Remained stable at THB 124.0.
• Minimum Asking Rent: Around THB 110–120 across all regions.
• Ceiling Rents: BMR increased to THB 120, while Central rose to THB 194.

Market Outlook

• Supply Growth: Expected to accelerate in H2 2026 with 131,582 sq m under construction.
• Occupier Demand: Strong and pre-committed, suggesting sustained market absorption.
• Demand Drivers: Shifting from trade-driven to production-driven, with occupiers expanding logistics capacity to support manufacturing activity and inventory management.
• Future Outlook: Market performance will increasingly depend on manufacturing investment, inventory behavior, and industrial production rather than short-term trade fluctuations.
• Competition: Expected to become quality-driven, with occupiers prioritizing facilities that support automation, operational efficiency, and connectivity to industrial clusters.

Conclusion

Thailand's logistics market showed resilience and growth in H1 2026, supported by strong manufacturing and export activity. The market's ability to absorb new supply without creating vacancy pressure, along with stable rental performance, indicates a healthy equilibrium. The BMR and EEC are expected to outperform due to their stronger integration with the evolving manufacturing ecosystem, while the Central region remains a more price-sensitive market. The future trajectory of the logistics market will be closely tied to the sustainability of manufacturing investment and industrial production.