Construction delays another greatest risk for the condo market besides oversupply

• Kongleaphy Keam
• 12 April 2021
• Local News
• 2598 Views

Construction delays, as well as the delays in handover date, are the two main concerns in the condominium market at the moment, followed by the oversupply issue, according to CBRE Cambodia’s recent report.

The report added among other causes, the loss of foreign investment in the sector is the prominent one that negatively impacts the market.

According to the report, seven projects out of 19 which were originally expected to complete in 2020, have been delayed to 2021. During the first quarter of 2021, there were four completions adding 793 units to the pipeline, or equal to 7% of the forecasted supply 2021.

Meanwhile, the quoting sale price q-o-q increased by 4.8% and 3.5% for high-end and affordable, at an average of US$3,000 and US$1,500 per square metre respectively.

The rent surprisingly slightly increased for all three sectors, respectively by 1.7%, 1.3%, and 5.4% for high-end, mid-range, and affordable type.

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