Thailand’s Serviced Apartment Market Research in 2024

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Rising of pet and family-friendly, state-of-the-art gyms and wellness options, is serviced to meet the needs and preferences of discerning travelers

  • There is a constant supply and demand for serviced apartments because Thailand has not raised the cap on the number of foreign employees who are allowed.
  • Most serviced apartment businesses are usually located along the train lines and Sukhumvit Road being the most popular location for such developments.
  • The rental rate of serviced apartments in the Lumpini area was to be the highest, at around THB1,800 per sqm per month.
  • Nowadays, renters are more concerned with sustainability, including fitness centers, healthy food, and green building certificates. These properties will gain an advantage in the competitive market by providing high-quality amenities and services that hotels do not offer, such as laundry, 24-hour room service, and convenience personnel.
  • As of 2023, around 3 to 4 million expats live and work in Thailand, and a rough 78.5 thousand Japanese residents live in Thailand. In the observed time frame, numbers have increased steadily each year until they peaked in 2021 at more than 82.5 thousand expats.