Pandemic Guides Cambodian Real Estate Sector to Shift Toward Sustainability

• 25 February 2022
• Local News
• 1296 Views

A prominent real estate expert has predicted that the real estate sector for 2022 and beyond will continue to grow slowly but in a more sustainable direction despite the ongoing COVID-19 pandemic.

This slow but continuous growth is due to the market adapting and turning its focus on the local market, which is where demand is strongest.

Executive Vice-President for the Cambodian Valuers and Estate Agents Association (CVEA) Mr Sorn Seap said that real estate transactions continue among locals in the areas with infrastructure such as roads, airports, tourist destinations, among others.

“However, the significant growth is in affordable housing and land in new development zones. There are a lot of young Cambodians who want to have a decent home, either buying affordable housing projects or buying land plots to build their house in the future. Thus, the market is very sustainable given the real demand,” said Mr Sorn Seap.

“Besides the residential sector, local investors are still very active in potential destinations such as Kampot, Kep, Siem Reap, Sihanoukville, Kampong Speu, Poipet and Bavet,” he added.

According to his analysis, the past two years of downturn caused by the pandemic have taught the market to change and turn to the right path, which is the actual domestic demand. Therefore, moving forward, the market will grow more sustainably, although not as robustly as before, but at a continuous pace.

• Analysis