Leasing Office Space in Bangkok: Districts, Rents, Contracts and Registration

Bangkok has one of the most tenant-friendly office markets in Asia. A wave of new grade-A supply has arrived, including One Bangkok, Dusit Central Park and Parq, and older buildings are offering incentives to keep tenants.

But Thai leases have quirks that catch foreign tenants out:

• the standard 3-year term;
• the split between rent and service fees, which changes how VAT and withholding tax apply;
• registration at the Land Office for longer leases;
• what the landlord must give you so the address works for DBD registration, VAT and work permits.

1. Where to look: Bangkok's office districts#

What the market data says (Q3 2026). The average asking rent for grade-A space in the Bangkok CBD was about 941 THB/sqm/month gross, with vacancy at about 23.5%. That is a tenant's market, and supply from One Bangkok and other new towers is still being absorbed. By district, average grade-A asking rents were about: Khlong Toei (Sukhumvit/Rama 4) 1,000, Bang Rak (Silom) 990, Pathum Wan 964, Wattana (Asok–Phrom Phong) 931 and Sathorn 848 THB/sqm/month (thaidata.co.th compilation of Cushman & Wakefield and Knight Frank data; Knight Frank Bangkok Office Market Q1 2026). The ranges in the table are wider because new trophy buildings ask well above the average and older grade-A stock asks well below it. With vacancy this high, rent-free periods and fit-out contributions are realistic asks (see section 6).

Grade-B buildings typically rent at a 30–50% discount. Rents are quoted per square metre per month on net or gross area, so check which.

2. Typical lease structure#

Why rent is split from service fees#

Thai landlords usually issue two agreements:

1. a lease agreement for the space itself (rent);
2. a service agreement for building services: maintenance, security, air-con and common areas.

This matters because:

• Rent is exempt from VAT under Revenue Code s.81. The tenant withholds 5% WHT on rent paid to a company landlord.
• Service fees carry 7% VAT and 3% WHT.
• Lease registration fees and stamp duty are calculated on rent only.

A common split is roughly 30–50% rent and 50–70% service. Check that the split reflects reality: the Revenue Department can recharacterise an artificial split.

3. Lease registration: when it is required#

Under Civil and Commercial Code s.538:

• a lease of immovable property must be evidenced in writing;
• a lease longer than 3 years must also be registered with the competent official at the Land Office. If not, it is enforceable for 3 years only.

This is why most offices use a 3-year lease with a renewal option rather than a single 6-year lease. A renewal option is only a promise to lease, so negotiate a clear formula for renewal rent.

4. Worked example: 150 sqm in Asok#

The VAT on service fees (5,985) can be claimed as input VAT if the tenant is VAT-registered. The WHT deducted is paid to the RD on PND.53 by the 7th (or 15th when e-filed) of the following month. Issue the landlord a 50 Tawi certificate.

5. Documents you need from the landlord#

For company registration (DBD), VAT registration (Por Por 01) and work permits, ask for:

• a consent letter allowing the company to use the address as its registered office or branch;
• a copy of the house registration (Tabien Baan) for the building or unit;
• the landlord's company affidavit and the authorised director's ID or passport;
• a map and photographs: the RD may inspect for VAT registration and expects to see a signboard with the company name.

Missing landlord documents are the most common cause of delayed VAT registration. Make delivery of these documents a lease condition.

6. Negotiation checklist#

• [ ] Area basis (gross vs net) and measured area
• [ ] Rent-free period and fit-out time
• [ ] Renewal option with a capped increase
• [ ] Early termination right (e.g. after 24 months with 6 months' notice)
• [ ] Reinstatement obligations: what must be removed at the end
• [ ] Air-con overtime rate and building hours
• [ ] Signage rights (needed for VAT inspection)
• [ ] Deposit refund timing (commonly 30–60 days after hand-back)
• [ ] Landlord documents for DBD, VAT and work permits
• [ ] Sublease and assignment rights (useful in group restructuring)
• [ ] Lease in Thai and English; which version prevails

7. Alternatives to a traditional lease#

Browse our directory for coworking, serviced and virtual offices.

8. Timeline#

Tenant reps (CBRE, JLL, Colliers, Knight Frank, Cushman & Wakefield) are typically paid by the landlord, so using one costs the tenant nothing directly.

9. Accounting treatment and end of lease#

• TFRS 16 / TFRS for NPAEs. Listed and larger companies using full TFRS record the lease as a right-of-use asset and a lease liability. Most SMEs use TFRS for NPAEs and simply expense rent. Your auditor will confirm which applies.
• Fit-out costs are capitalised and depreciated over the shorter of the lease term and useful life. Plan the lease term with this in mind.
• Key money or lease premiums sometimes asked for in older buildings are taxable income to the landlord. Get a receipt and a written agreement.
• Hand-back. Agree a reinstatement scope at signing, photograph the premises at handover, and request a joint inspection 30 days before the end. Deposit disputes are usually over reinstatement and outstanding utilities.
• Moving the registered office. Changing address after a move requires a DBD amendment, and a VAT update to the Revenue Department (Por Por 09) if VAT-registered. Budget 2–4 weeks.

Frequently asked questions#

Is a 3-year lease the maximum? No. Longer leases are possible but must be registered at the Land Office (1% fee + 0.1% stamp duty). Without registration they are enforceable for only 3 years.

Why do I withhold 5% from rent but 3% from service fees? The RD treats rent and services as different income types: 5% for rent and 3% for services paid to Thai companies.

Does rent attract VAT? Rent of immovable property is VAT-exempt. Service fees, utilities re-billed by the landlord, and serviced-office packages are usually VAT-able at 7%.

Can I register my company at my condo? The DBD may accept a residential address with owner consent, but the condo juristic office may prohibit commercial use. Work-permit and VAT officers often expect a proper office.

What deposit is normal? Three months of rent plus service fee, refundable after hand-back and reinstatement.

Compare serviced and private offices in Bangkok in our directory.

Related guides#

• Virtual Office and Registered Address in Bangkok: What Works for DBD, VAT and Work Permits
• Thai Work Permit Guide 2026: Requirements, Documents, Fees and Process
• VAT Registration in Thailand: The 1.8M THB Threshold, PP.30 Filing and Tax Invoices
• Withholding Tax in Thailand: Rates, PND Forms and Deadlines for Businesses