Oknha Noun Rithy: Invest in real estate when COVID-19 ends to make automatic profit

• 15 June 2020
• Local News
• 8963 Views

During theCOVID-19 crisis, it is a good time to invest in the real estate sector in Cambodia because the price is still reasonable and as the situation comes to an end, investors will automatically profit from sales.

This opinion was shared by Oknha Noun Rithy, CEO of Khmer Appraisal Foundation (KFA) in an interview with FRESH NEWS on, “Cambodian Property Sector Before, During and After the COVID-19 pandemic” on 15 June 2020.

He said that the situation will not last for long, so investors have to be ready in terms of spirituality, ability, and money to invest in real estate.

“Investors who have already invested in the real estate sector should continue to invest. Now is the best time to invest. Property prices are still good, sellers need to sell, and buyers should buy them now. For now, we can get 30%-40% profit if we buy them, and when the situation is ended, we will profit automatically,” he said.

“But when buying, make sure to look at the location, legal property documentation, and the nearby project which is about to be expanded. For example, the government will organize the province in the northeast as the fourth national economic pillar, we called it a project’. Buying land in the forest, environment land, park land is not profitable. We have to buy the legal, affordable land and wait for the opportunity,” he added.

Other experts have also predicted that the construction and real estate markets will recover in 2021 despite the dramatic decline since the end of 2019 resulting partially from the effects of the COVID-19 pandemic in 2020. (Read more)