Population Growth & Modern Living Trend to Boost Demand for Condos, says Expert

• 25 February 2022
• Local News
• 1673 Views

The condominium market in Cambodia, which is currently heavily reliant on foreigners, will be supported by local customers due to population growth and the trend of living in modern housing.

Executive Vice-President for the Cambodian Valuers and Estate Agents Association (CVEA) said if the developers establish the right price, size, and style to match the taste of locals, the market will catch momentum.

He said that the local customers’ trend is supported by traffic congestion in the city, which makes new families prefer to live in the centre of the city nearby their workplaces and businesses.

Currently, the share of locals in condo sale and purchase transactions is still limited, giving it more space to grow if the developer can come up with a better development strategy and not rely too much on foreign investors.

• Analysis
• Business and Market