One-bedroom Apartment Units Account for More Than 50% of Supply in 2018

• 19 December 2018
• Property Focus
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Sample photo by Apartment List

Serviced apartments have become an important aspect of the real estate sector and a recent report shows that one-bedroom units accounted for the majority of supply in the fourth quarter of 2018.

According to a report by Cambodia’s largest property appraisal firm,VTrust Appraisal Cambodia, one-bedroom units accounted for 55% of the total supply on the market, equivalent to about 4,956 units of the total 9,021 units available in Phnom Penh.

Speaking during the preliminary launch of the report, Mr Hoem Seiha, Director of Research at VTrust, said that one-bedroom apartments are good because this unit type is getting a lot of occupancy compared to other unit types.

The launch presentation showed that the growth in one-bedroom units is because most people that come to Cambodia live alone, while also pointing out that one-bedroom units are more affordable than other types of unit.

For rental, one-bedroom units have an average rent of about US$630 per month, while apartments located in Daun Penh district could cost up to US$1,200 per month or US$16 per square metre.

Meanwhile, two-bedroom units accounted for 34% (3,098 units), other units 6% (529 units), three-bedroom units 4% (349 units), and penthouses 1%(79 units).

• Analysis