Condo Prices Set to Fall

• Proeksa Meas
• 9 March 2018
• Local News
• 2417 Views

A new report by leading real estate firm CBRE indicates that condominium prices will fall in 2018 due to saturation from thousands of new units coming onto the market as multiple large-scale projects come online.

“The current supply of condos available on the market consists of 8,600 units, but by then end of this year 17 more condo projects, or the equivalent to 13,000 units, will be added into the market,” Ann Sothida, director of CBRE Cambodia told the Phnom Penh Post. “Prices will fall relative to the increase of supply.”

Prices of mid-range and high-end condos are expected to drop by 4 percent and 3 percent, respectively according to the report while units selling for less than USD1, 500 per square metre would see the largest drop.

The median price per square foot on condominiums in Phnom Penh was USD1,350 for affordable condos, USD2,600 for mid-range and USD3,200 for high-end, according to the study.