Expat Rental Apartments Demand changing from family to individual
This year, we are seeing more expats moving here individually rather than the whole family as companies look to lower their operating costs
As the number of Japanese expats in Thailand decreased to lower than 20% of the total expats for the first time in 2019 and dropped to 34,133 as of April 2019, a 4% decline Y-o-Y, CBRE is seeing a change in demand and its impact on the rental apartment sector in Bangkok, despite a healthy performance.
Typically, when expats move with their family members to work in Thailand, the companies will cover accommodation for the whole family, the children’s tuition fees and sometimes allowance for the housewives.
This year, we are seeing more expats moving here individually rather than the whole family as companies look to lower their operating costs.
“In the projects which CBRE is managing like Jitimont Residence and Capital Residences, we are seeing more active demand for one-bedroom units which is different from what we have seen in the past. Two-bedroom units used to be more popular for expats moving to Thailand with their family.
“Now, many apartments are fully occupied for their one-bedroom units and the demand is still increasing”