Quarantine Requirements Removal to Help Jump-Start Real Estate Market, say Experts

• 15 November 2021
• Local News
• 1235 Views

Real estate experts have expressed optimism toward the government’s new policy regarding the removal of quarantine requirements for fully vaccinated travellers entering Cambodia, citing that it is a good sign for the real estate market, but the positive impacts remain limited.

Prime Minister Samdech Hun Sen on 14 November announced that from 15 November onward fully vaccinated travellers entering Cambodia will not be required to undergo quarantine.

CBRE Cambodia Managing Director James Hodge said that this new policy will indeed help jump-start the real estate market in Cambodia, but the impact is limited during the first stage.

“Without reciprocal relaxation of quarantine requirements by other countries the impact is likely to remain relatively limited in terms of foreign investor arrivals. This is because many of the key investor markets, including Singapore, Hong Kong and China still impose strict quarantine requirements on arrivals returning from Cambodia, which will continue to put off travellers from these countries,” said Mr James.

“However, the move is a step in the right direction as it continues to help build confidence amongst domestically based investors and occupiers – indicating that the end of the pandemic could well be in sight and signposting that things should be returning to something closer to normality in the not too distant future,” he added.

Similarly, President of the Cambodian Valuers and Estate Agents Association (CVEA) Chrek Soknim also said that the removal of quarantine is the first step toward the recovery of both the economy and the real estate market.

“With this policy, investors will start to consider returning as they do not have to waste their time doing the 14-day quarantine. This will gradually boost the real estate sector. But, I think the peak will be after the Chinese new year, especially for the Chinese investors,” said Mr Soknim.

• Analysis
• Business and Market