Mortgage​ applications in Cambodia see sharp drop in Q2 2019

• Khat Leakhena
• 19 August 2019
• Local News
• 2485 Views

The recently published Consumer Credit Index Report shows that mortgage​ applications in Cambodia saw a sharp drop of nearly 40% in the second quarter of 2019 compared to the previous quarter.

Compiled by the Credit Bureau Cambodia (CBC), the report shows that consumer credit applications which comprises of personal finance, credit cards, and mortgage have dropped 19.29% during the second quarter of 2019 due to the sharp decrease in mortgage applications.

Mortgage applications saw a steep decrease of 36% across all regions in the country with the coastal region areas such as Kampot, Koh Kong, Sihanoukville, and Kep seeing the sharpest decrease of 49% compared to the previous quarter in 2019.

Meanwhile, as of June 2019, the number of consumer credit accounts across the country reached up to 1.19 million for which 81.68% is personal finance, 11.04% is mortgage, and 7.29% is credit cards.

During the same period, the consumer loan balance totaled US$7.16 billion, equivalent to about 30.22% of the total outstanding balance of individual loans in the market.

In the same report, personal finance loans continue to have the most share of 51.46% of all consumer credit outstanding loans, while mortgage loans account for 47.79%. Credit card loans continued to maintain a low 0.75% of the total balance.