Cambodia’s real estate market in 2020 unforeseeable: experts
The 2019 real estate market in Cambodia has been growing due to increasing demand from both local and international buyers across different property types, the Khmer Times cited experts as saying.
Sen Sok remains a top choice for borey developments. But can the country’s infrastructure handle its fast growing real estate sector? (Source: Realestate.com.kh)
Phnom Penh (VNA) - The2019 real estate market in Cambodia has been growing due to increasing demandfrom both local and international buyers across different property types, theKhmer Times cited experts as saying.
However, industry insiders have mixed opinions onthe market next year, according to the daily newspaper.
Po Eav Kong, CEO of Advance Real Estate, said2020 will be a good year for Cambodia’s real estate.
He explained that the Cambodian government hasdoubled the approved projects and this will lead to stronger construction activityin the following years.
However, he added, it’s rather unfortunate thatthe ban on online gaming has resulted in the slowdown of the real estate marketin Sihanoukville.
According to the Ministry of Land Management,Urban Planning and Construction there were 4,446 construction projects approvedwith total investment amounting to 9.3 billion USD in the first eight months of2019, as compared with 2,867 projects worth 5.2 billion USD in the same periodlast year.
Ping Serey, Vice President of Cambodian Valuersand Estate Agents Association, took note of a remarkable growth in purchasingactivities in residential projects and office spaces.
He said the real estate market grew anywhere from10-15 percent this year but still leaves some room for growth, and suggestedthe government provide better infrastructure such as roads, sewages andelectric lines to encourage the private sector to build more affordable housing.
Lack of publicinfrastructure is the bottleneck to Cambodia’s growing real estate market.While government projects are underway, they cannot keep up with the marketdemand for commercial and residential projects in dire need of proper access tosewage, electricity, and roads. Some developers have reportedly opted toconstruct their own roads./.
Cambodia's economy remains robust in 2019 despite concerns over the possible loss of Everything but Arms (EBA) trade scheme with the European Union (EU), Cambodian officials and analysts said.
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Sen Sok remains a top choice for borey developments. But can the country’s infrastructure handle its fast growing real estate sector? (Source: Realestate.com.kh) 
