Affordable Housing Projects to Gain More Momentum in 2022, says Expert

• 14 December 2021
• Local News
• 1870 Views

Real estate expert and President of KW Cambodia Dr Kim Heang has projected that the borey market will remain strong in 2022 and at least for the next 5-10 years, citing low to mid-range types will be in high demand .

Dr Kim Heang said boreys that are in strong demand will be those priced from US$50,000 to US$100,000.

“A large proportion of the Cambodian population are those with low and middle incomes. Thus, the price range of residential projects with unit prices below US$100,000 are the most feasible for them. Given the easier access to bank loans, the demand for this type of borey will continue to rise,” said Dr Kim Heang.

He also explained that another reason that keeps this affordable borey robust is the strong financial status and confidence of local developers.

“Most borey developers are local tycoons or elites, but the market does not depend on external factors. In other words, boreys are built by locals and sold to locals. So, even with the COVID-19 pandemic crisis, the market remains strong and will continue to be strong,” he said.

• Business and Market
• Policy and Strategy