Mid-Range & Affordable Housing Still in High Demand in 2023

• 13 January 2023
• Property Focus
• 2038 Views

Mid-range and affordable housing will continue to see the highest demand in 2023 as the supply remains far below the demand of 30,000 units per year. 

Mr Chrek Soknim, CEO of Century 21 Mekong, said that in 2023, the demand for medium-priced and affordable housing will continue to be high demand due to the limited supply of this type of house compared to the actual demand, especially in Phnom Penh. 

“So far, most of the demand is the mid-range homes worth less than US$100,000. The demand for housing per year is around 30,000 units as the number of people low to middle-class people are increasing,” he said.  

Ann Sothida, CEO of PropNex Cambodia, said on 9 January 2023, that houses with a price range of US$80,000 to $200,000 range are the most popular.  

“The study has found that the current household size of Cambodians is between only 3 to 4 people, thus the small size of the house is enough, but rather adding more green space to the project,” said Ms Thida. 

According to the annual report of CBRE Cambodia released on 11 January 2022, medium and affordable residences accounted for 92% of the total market supply, up from 91% in 2019. 

• Business and Market