Cambodia’s First Real Estate Decennium Report Launched

• 30 April 2019
• Local News
• 2852 Views

After collecting and compiling data for many years, Vtrust Appraisal Cambodia has launched a major report online entitled ‘Phnom Penh Sector 2030s: Ten Predictions for Real Estate’.

To learn more about the report, Construction & Property Magazine met with Mr Hoem Seiha, Research Director for Vtrust Appraisal Cambodia.

What is ‘Phnom Penh Sector 2030s: Ten Predictions for Real Estate’?
This report is a compilation of real estate data in Phnom Penh City for the past ten years and in the next ten years, meaning from 2001 to 2018 and from 2018 to 2030. We make future predictions to see where the real estate market will be in the future. We study ten different sectors within the real estate sector including; 1) geography and demography, 2) construction, 3) residential markets, 4) retail and office market, 5) land subdivisions and land prices 6) industrial estate market, 7) tourism and hospitality, 8) economy and finance 9) urbanisation and urban expansion, and 10) urban infrastructure.

Why did Vtrust decide to compile such a big report?
Because we see that the real estate market has grown from year to year starting in the late 1990s and from 2010, real estate companies mushroomed. Even so, they do things that followed their habit and their information is also not enough. No one has provided information on real estate until recently so we see that we need that data.

What are the factors are used to analyst the report?
In this report, we looked into factors that will influence changes in the market. So, there are factors contributing such as the up and down of economy, politics, geography, investment from China, Japan, and Korea and other technical factors as well. We collected the data for years, meaning that, for the last 6 to 7 years we collected old data that already exists, and take it to compile into a document, then within the last 10 months, we start to analyse it one by one. We had out team go and survey all locations to get the data and put it in our system. We also had a method of counting the number of houses.

What are the benefits of this report and who is it for?
Our company is the first to see that if we have reliable data for developers, banks, and other related institutions, they will have a reliable roadmap instead of just doing by estimating. When they have reliable information, they can set up plan and business strategy, in order for their institution to succeed. The main beneficiaries will be borey developers, building construction companies, condominium or malls, and especially foreign investors that rely heavily on this kind of data before investing in Cambodia. All companies will enjoy the use of our data. They will know in within each year how much the real estate sector has grown, like how much this year, last year and the coming years.

Mr Punnareay, Senior Business Development Management of residential developer Creed Group, who purchased the report said during the soft launch that “In Cambodia, what is important is information; when we have all this information we can benchmark the important points especially if we are residential developers. So we benchmark on the residential sector to see what we can develop, how high the price can be, and for who…so all the information will be good for us”.

On the other hand, a real estate businessman who did not wish to be named said that “Businesspeople in Cambodia do business by following each other. They do not rely much on data to analyse the market, so if others are wrong, they are wrong too!”

Where can people purchase the report and how much is it?
We spent not less than US$100,000 on this report plus our efforts to collect the data for many years. We are selling it for US$2,000 to US$3,000 for a hard copy and a soft copy with a protected code that buyers can use within their team only. If they want to purchase any part of the report, we have a subscription option, meaning that if they want three sections, they can subscribe to three sections.

• Knowledge and Key Success
• Business and Market
• Projects Development
• Urbanization and Architect