MEF: Real Estate to Recover in Line with Economic Growth; 2.4% in 2021 & 4.8% in 2022

• 25 November 2021
• Local News
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Cambodia’s real estate sector is projected to recover quickly supported by a gradual increase in foreign investment inflow and the increase in demand for low and medium price properties.

Deputy Prime Minister and Minister of Economy and Finance HE Aun Pornmoniroth made these remarks at the 23rd ASEAN Valuers Association (AVA) Congress on 25 November.

HE Aun Pornmoniroth stated that the real estate sector in Cambodia is forecasted to recover in line with the domestic growth of 2.4% in 2021 and 4.8%, thanks to the gradual increase in FDI and the rise of demand in affordable housing.

“Despite the challenges posed by COVID-19 and our transition to the new normal, the real estate sector in Cambodia continues to have high potential and reasonably priced for investment if compared to regional neighbours,” said HE Aun Pornmoniroth.

“Those potential regions include 1) Phnom Penh and Kandal province, which will have a new international airport; 2) Sihanoukville province, which is a multi-purpose economic zone; 3) Siem Reap province, which is a historic tourism region; and 4) Bavet City located at the border between Cambodia-Vietnam and Poipet City located at the border between Cambodia-Thailand,” he added.

Similarly, President of Cambodian Valuers and Estate Agents Association (CVEA) Chrek Soknim has also projected the real estate market to see a significant growth in 2022, especially after the Chinese New Year, with a 30% – 40% increase in foreign investors expected. (Read more)

• Analysis
• Economy and Finance