Expert: Real Estate Market Declines in 2023 Present Unique Opportunity for Buyers

• 1 August 2023
• Local News
• 1563 Views

In a year where the real estate market witnessed a concerning decrease, buyers in Cambodia find themselves in a uniquely advantageous position, as properties are being offered at prices below market value, presenting an exceptional opportunity for those looking to invest in the property market.

According to Ms Thida Ann, Managing Director of PropNexkh, the current real estate market heavily favours buyers, granting them increased bargaining power and the ability to acquire properties at significant discounts of 20% to 30% below market rates. “The market dynamics of 2023 have significantly tilted in favour of buyers, and we are witnessing a prime time for investors to seize these exceptional below-market value properties,” she explained.

Notably, real estate projects have seen a substantial reduction across various sectors, with a lack of new office developments and only a few residential projects introduced. However, properties situated along prominent boulevards such as Norodom Boulevard and Monivong Avenue continue to experience high demand, driven by their strategic locations.

In the condo market, buyers are enjoying more flexible payment conditions and improved agreement terms, with some able to secure units without paying the full price or opting for instalment payments of 10% or 20%. Despite approximately 54,000 units available, only a limited number have been sold, providing buyers with ample choices and unparalleled investment opportunities.

As the real estate landscape continues to evolve in 2023, investors and homebuyers can take advantage of the buyer’s market, making well-informed decisions that align with their investment goals and aspirations.

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