Sukhumvit Remains the Most Popular Expat LocationThe expatriate community in Bangkok grew by over 13.8% from December 2004 compared to December 2005. There are now 61,913 foreigners with work permits in Bangkok, according to the latest CB Richard Ellis residential rental report, this excludes diplomatic staff.

Bangkok, Thailand (PRWEB) April 29, 2006 -- The expatriate community in Bangkok grew by over 13.8% from December 2004 compared to December 2005. There are now 61,913 foreigners with work permits in Bangkok, according to the latest CB Richard Ellis residential rental report, this excludes diplomatic staff. 22% of the total number of expatriates were Japanese followed by Indians (12%), Chinese (9%), British (9%), and American (7%).

These numbers are expected to grow, especially Japanese expatriates due to the growth in the number of Japanese companies manufacturing in Thailand.

The supply of the apartments in Bangkoks Central Areas increased slightly in 2005 to 9,953 units, a 1.4 % increase from the third quarter of 2005, 142 new units in 3 building were completed in the fourth quarter of 2005 namely Sofitel Residence Asoke on Soi Sukhumvit 19, BT Residence on Soi Sukhumvit 8, and Blossom Ville on Soi Sukhumvit 63/4. Apartments are single ownership developments rather than multi ownership condominiums.

Sukhumvit is still the most popular area due to its wide variety of retail and entertainment facilities. This area accounts for 69% of the total stock in downtown Bangkok. Grade A apartments to comprise 1,526 units, only 15% share of the total stock. Key characteristics of grade A apartments are easily accessible with a good location, design, layout, interior, property management and adequate facilities for residents. Overall occupancy rates increased to 90.6 % and rents for grade A apartment properties rose by 1.4% at the end of 2005.