CBRE: Supply of Condominiums in Phnom Penh Increased by 20%

• 23 July 2018
• Local News
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A new report by real estate agent CBRE Cambodia has shown that the supply of condominiums in Phnom Penh increased by 20% quarter-on-quarter(q-o-q) in the course of Q2 of 2018, making a total supply of condominiums in the capital of 11,830 units.

“Cambodia Phnom Penh Marketview for Q2 2018” revealed that in the second quarter of 2018, around 2,000 condominium units were completed with five new projects launching off-plan sales, bringing an additional total of 2,256 units to the supply pipeline.

Among them, about 80% of the units completed during the second quarter are located in the high rise hot spot of Chamkarmon District.

Meanwhile, the sales prices of affordable and mid-range segments condominiums remained stable but prices for high-end projects increased by 2% during Q2. While mid-range segment condominiums rents declined by 12% compared to last quarter while the high-end segment declined by 5% q-o-q.

Regarding condominiums supply, a previous report by CBRE revealed that at least 17 condominiums or equal to about 13,000 units are expected to complete construction and be open for service in Phnom Penh within this year.

If the 13,000 units are completed as predicted, the total condo supplyfor 2018 will increase about 151%. (Read more)

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