Cambodia and Real estate: falling prices
It is known that world real estate seems to have had a turning point in 2020. Among these countries that have managed to transform critical issues into opportunities, we identify Cambodia. In fact, it is part of the world top ten, which has undergone a revival that began last 2019. In the last 14 years, there has been an increase in terms of interest, which has brought 7% more sales.
In addition, the yield also emerges in the leases, in the city of Phnon Penh. In this reality, we identify, the property prices among the lowest in all of Asia. It is therefore not surprising that Cambodia's real estate has grown significantly over the years. Ties with China have positively influenced the market, although there will likely be a halt due to Coronavirus. It is hoped, of course, that this stalemate may have a limited effect on the entire Asian real estate, without compromising its turnover.
But thanks to the completion of the Sihanoukville and Siem Reap airports, the demand seems to be currently incessant. No doubt the subsidized rates and, above all, the really affordable property prices helped. An average, compared to Asia, which allowed Cambodia to emerge compared to the major nations, especially those representing economic and financial centers.
Tourism has decidedly helped local real estate, promoting and encouraging new tourist waves which, thanks to the extremely advantageous sales contracts, have then turned into migratory waves.
But the real estate sector in Cambodia does not stop there. Rather. Thanks to the increase in demand, the construction sector (the other side of the coin) was also urged. New commercial buildings, to fulfill the employment of new workers, further residential complexes, have completely revolutionized the skyline of the main cities. It should be noted, however, that the strength of Cambodia is given by the homogeneity found at levels of housing improvement. Thanks to external solicitations, even the local population has decided to adapt to the news in terms of real estate, investing in new buildings, by renting or selling the previous ones. A fair compromise, which has allowed newcomers to invest in a growing real estate market, without spending a fortune!
And despite the fact that the Cambodian market has been a frontier for many, we can define the nation as young. About 60% of new residents and the workforce reach an average age of 30. A deterioration that seems to benefit the national and Asian economy.
How the Cambodian market will evolve is obviously a mystery. But to find out, all you have to do is continue to stay updated on our Blog!
In addition, the yield also emerges in the leases, in the city of Phnon Penh. In this reality, we identify, the property prices among the lowest in all of Asia. It is therefore not surprising that Cambodia's real estate has grown significantly over the years. Ties with China have positively influenced the market, although there will likely be a halt due to Coronavirus. It is hoped, of course, that this stalemate may have a limited effect on the entire Asian real estate, without compromising its turnover.
But thanks to the completion of the Sihanoukville and Siem Reap airports, the demand seems to be currently incessant. No doubt the subsidized rates and, above all, the really affordable property prices helped. An average, compared to Asia, which allowed Cambodia to emerge compared to the major nations, especially those representing economic and financial centers.
Tourism has decidedly helped local real estate, promoting and encouraging new tourist waves which, thanks to the extremely advantageous sales contracts, have then turned into migratory waves.
But the real estate sector in Cambodia does not stop there. Rather. Thanks to the increase in demand, the construction sector (the other side of the coin) was also urged. New commercial buildings, to fulfill the employment of new workers, further residential complexes, have completely revolutionized the skyline of the main cities. It should be noted, however, that the strength of Cambodia is given by the homogeneity found at levels of housing improvement. Thanks to external solicitations, even the local population has decided to adapt to the news in terms of real estate, investing in new buildings, by renting or selling the previous ones. A fair compromise, which has allowed newcomers to invest in a growing real estate market, without spending a fortune!
And despite the fact that the Cambodian market has been a frontier for many, we can define the nation as young. About 60% of new residents and the workforce reach an average age of 30. A deterioration that seems to benefit the national and Asian economy.
How the Cambodian market will evolve is obviously a mystery. But to find out, all you have to do is continue to stay updated on our Blog!
