Cambodian Government Encourages More Affordable Housing Development

• Sommana Yan
• 28 May 2021
• Local News
• 3806 Views

The Cambodian government is urging both domestic and foreign investors to develop more affordable housing in Cambodia in response to increasing demand.

HE Benghong Socheat Khemro, Director General of the General Department of Housing of the Ministry of Land Management, Urban Planning and Construction (MLMUPC), said that the government has set out a housing national policy focusing on providing people access to proper living.

The policy also provides more incentive opportunities for developers such as road infrastructure, water, electricity, tax exemptions during the sales period, especially for the development of affordable housing.

Speaking at the Rainmaking Cambodia online forum on 25 May, HE Socheat Khemro said that currently the housing market is developed only for high-income people.

“Thus, the government wants to see more developers investing in affordable housing. The price of each affordable house should not be higher than US$30,000 so that low- and middle-income people can buy,” he added.

According to the MLMUPC data, to date, Cambodia has a total of five approved affordable housing projects, three of which are landed properties with a total of 8,331 houses, and two others are co-owned buildings with a total of 7,256 units. (Read more)

However, on the demand side, an extra 1.1 million houses will be needed to fulfil the increasing population by 2030.

• Policy and Strategy
• land development and policy