2023: Good Time for Investing in Real Estate?

• 15 October 2022
• Local News
• 2724 Views

A leading real estate expert has predicted that 2023 will be a good year to invest in real estate for those who have high capital and expect long-term returns, as property price in 2023 is expected to rise much compared to 2022.

CBRE Cambodia Associate Director Kim Kin Kesa said that in 2023, potential investors should look to invest in land in areas with long-term development potential.

“The reason to invest in land is that it can be very profitable when the economy recovers in the coming year,” said Ms. Kin Kesa.

However, she explained that before making an investment decision, investors should be aware of the geographical and economic factors in the area, as each location may have different economic dynamics.

“For example, the central area of ​​Phnom Penh has the potential for commercial and residential development, while the suburbs of Phnom Penh, Kandal, and Kampong Speu have the potential for industrial and affordable housing,” said Mrs Kesa.

“The coastal provinces such as Sihanoukville, Kep, and Kampot, on the other hand, are tourist destinations, which are good for investing in hotels, resorts, and leisure homes,” she added.

She continued that the investment period in these sectors can be medium and long, so the investor should study and prepare their capital well before investing.

CBRE also predicts that the real estate market in Cambodia will improve only slightly in 2023 and will not reach the pre-COVID-19 level yet. (Read more)

 

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