COVID-19 Crisis Proves Strongest Developers, Says Analyst

• 16 March 2021
• Local News
• 1872 Views

As of the beginning of 2021, the real estate market in Cambodia remains under pressure from the COVID-19 crisis, especially given the recent surge in community transmissions. Real estate analysts, on the other hand, view this long-period pressure as a reflection of which project developers have the strongest position in the market.

Managing Director of CBRE Cambodia Ann Sothida said that during this period, the number of buyers is very limited, as people tend to be reluctant in investing.

“Given the small number of buyers, if they still choose to buy any particular project, this means the project is the best one in the market. This is the best time to observe and study the property developers in the market,” said Mr Sothida.

On the flip side, Mrs Sothida said that the only factor that determines their successes is the sales volume.

“The success of a developer depends on many factors, but one key factor is the amount of sales. From 2020 to 2021, if their number of sales is high, this means they are successful,” said Mrs Sothida.

Nevertheless, local analysts still express concerns over the market situation in 2021, as the 20 February Community outbreak is not yet under control, which continues to discourage investors from making transactions.

Mr Sorn Seap, founder and director of Key Real Estate, said the market could be under pressure until the second half of 2021, and the only hope that will help restore the real estate market and the economy as a whole is vaccination. (Read more)

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