Property Price-Income​​ Ratio in Cambodia Falls by 6.58%: US Report

• 2 March 2021
• Local News
• 4944 Views

Property prices compared to incomes in Cambodia have decreased by 6.58%, which is the highest drop compared to other countries in the list amid the pandemic, according to a report from US healthcare firm Aetna.

The report added that, even with this large fall, the property price and income ratio in Cambodia in mid-2020 remained relatively high at 39.8, the second-highest after Hong Kong at 43.5.

Compared to other countries in Southeast Asia, the Philippines has seen the biggest increase from 2019 to 2020, by 6.29% to 29.92, while in Indonesia it has increased by 6.22% to 21.27, even given the pandemic.

According to the report’s methodology, the price-to-income ratio is the ratio of apartment prices to average disposable income. This means the lower the values, the more affordable the housing.

According to CBRE Cambodia, the supply of condominiums reached over 25,000 units in the market by the end of 2020 and is expected to jump to 38,000 units by 2021. Data from Knight Frank Cambodia also shows that by the end of 2019, a total of more than 55,000 housing units are available on the market, and another 22,000 are expected by 2022.

On the other hand, according to The Borgen Project, 10 million Cambodians do not have decent housing. Moreover, around 21.2% of Cambodians live in cities, and one in five of them live in the slums with a lack of access to basic services, according to Habitat for Humanity. (Read more)