The real estate and property market in Cambodia is seeing a shift in the wake of the COVID-19 pandemic as Realestate.com.kh says the attention has moved from overseas buyers and upper-middle-class Cambodians towards a broader market.
Cambodia Real Estate Survey 2021 Results
The recently released Real Estate Survey, which received 2,000 responses, revealed that 60 per cent of those who completed the survey were Cambodian nationals, and of the remainder foreigners, 23 per cent lived outside the Kingdom. Chinese nationals made up almost 20 per cent of overall investors who took part in the survey.
Realestate.com.kh said “The Real Estate Survey 2021 will additionally give readers a glimpse of how the property market performed over the past year. Much of the property market was able to weather the economic headwind caused by the global pandemic and the Real Estate Survey 2021 offers readers key points that played a vital role in keeping the market afloat during the global pandemic.”
Interestingly, nearly one-fifth of respondents said they stopped looking during the pandemic, but 35 per cent claimed nothing has changed in their property search in Cambodia.
The most popular buying trends according to the survey:
- Land is the most popular overall, followed by; shop-houses, villas, and apartments.
- Among foreign buyers, half of the buyers opt for condos because Cambodian law allows them to own non-landed property in their name.
A two-thirds majority of respondents felt that the rental market prices had dropped and prices have come down.
The most popular areas to buy and rent property in Cambodia, remain in Phnom Penh and the most popular areas to live in the capital are:
- Sen Sok
- Chroy Changvar
- Toul Kork
- Daun Penh
At the end of May 2021, the online property portal also said that sale prices for apartments/condos started to stabilise and “even see slight upticks in quoted prices and overall interest from both the local and international markets.”
Realestate.com.kh & Fazwaz Cambodia
In June 2021, Parc 21 Residence also announced it had appointed Realestate.com.kh and FazWaz Cambodia as its exclusive marketing & sales partners for the 132-unit condominium project located in Chamkarmon, Phnom Penh.
Earlier in 2021, Realestate.com.kh & Fazwaz Cambodia announced an MOU in a massive boost for agencies and property developers in Cambodia.
The leading Cambodian online property portal recently held its third 100% online property sales event in Cambodia which showcased some of the leading development projects and resale properties.