Cambodia to Demand Extra 1.1 Million Houses by 2030

• 25 May 2018
• Property Focus
• 4698 Views

According to the government’s 2014 National Housing Policy, by 2030 an extra of 1.1 million houses will be needed to fulfill the demand of the population. Among that, Phnom Penh alone will demand about 800,000 houses.

This statement has been mentioned and discussed in the EuroCham Cambodia breakfast talk on the affordable housing in Cambodia on May 24.

Cambodia is currently having a population of 15.7 million people, and almost 9.8 million of the population is lack access to decent housing, reported United Nations Development Programme (UNDP), and the housing deficit rate is currently measured as 58 percent.

In contrast, according to the annual report by the Ministry of Land Management, Urban Planning and Construction (MLMUPC), 3,052 construction projects were recorded in Cambodia in 2017 of which 2,291 are residential projects.

So, the question is why the housing deficit happens since a huge number of residential projects have been and are being constructed continuously?

“The factor behind the housing deficit in Cambodia is that the developer misleads the demand of the society. Most developers are focusing on middle class and luxury developments such as Borey and Condo,” said Ms. Lang Sok, a UNDP Cambodia Communication Analyst said.

“However, there are still huge amount low-income earners who are in high demand of housing. Therefore, the affordable housing project should be the answer to the housing deficit issue in Cambodia,” she added.

Ms. Lang Sok also suggested that investors and developers should invest more in affordable housing to help fulfill the demand of the low-income earners.

“There are currently several private sectors are working on the affording housing such as World Bridge Group, Arakawa Co., Ltd, and Phnom Penh Special Economic Zone, which I think it is a good start, and I expect more and more companies to involve in this kind of projects to help boost Cambodia toward the sustainable development goal,” said Ms Lang Sok.

EuroCham Panels Discussion on Affordable Housing in Cambodia

Ms Lang Sok, a UNDP Cambodia Communication Analyst

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