Asia-Pacific GDP Forecast to Grow Slowly in 2023, Drop to 2.9% Growth in 2024
The Asia-Pacific region’s economy is expected to experience slow growth in 2023, according to a report from an Asia-Pacific Economic Cooperation (APEC) research unit. The report forecasts that the region’s GDP will expand by 3.1% this year before dropping to 2.9% growth in 2024, due to downside risks continuing to pressure recovery. “The enduring pandemic, […]
Read MoreCan China Fix its Property Crisis?
Plenty of Chinese developers have faced difficulties. The volume of floor space sold across the country fell by 24% in 2022, the biggest slump since data became available in 1992; property investment was down 10% year on year, the first drop on record. China has abandoned its “zero-covid” approach to the pandemic, while simultaneously signalling […]
Read MoreCambodia real estate market in 2023 to slightly recover along with lingering risks
Local experts have projected that the Cambodian real estate market in 2023 will improve slightly, while still facing lingering risks that will last longer than expected. Mr Sorn Seap, President Cambodian Valuers and Estate Agents Association (CVEA), said no one could predict that the market would recover to the pre-COVID-19 rate as crises have yet […]
Read MoreChina’s Real Estate Market Expected to Recover by 2023
Since the first half of 2021, China has experienced a rapid decline in property prices and home sales. Many developers had liquidity issues with deteriorating balance sheets. However, the situation is expected to stabilise in 2023, experts said. Investment in real estate in 2022 fell 10% from 2021. Property sales slumped by 26.8%, the National […]
Read MoreFearless Projections of Real Estate Market Trend in 2023
The Cambodian real estate market in 2023 will continue to be under pressure and will not be able to recover to the rate where everyone wanted, while the slowdown will last even longer than expected, mainly due to the negative spill overs of the COVID-19 crisis, the Russia-Ukraine war, and the global economic downturn. The […]
Read MoreConstruction & Real Estate Loan Shares 18% of Total Credit
Bank loans provided to major sectors grew 19.3% compared to last year, while construction and real estate grabbed approximately 18% of the total loans of US$46 billion, according to a recent official summary. Real estate businesses received 9% of total loans, while construction also took 9%. Personal housing loans accounted for 14%, hotel and the […]
Read MoreExperts: Land Price in Arey Ksat Temporarily Oversaturated
After the announcement of the new Night Market-Chroy Chagva-Arey Ksat bridge, the land prices in Arey Ksat area is once again skyrocketing. However, experts are urging investors to be more cautious of sudden price fall due to the uncertainty of the bridge project President of the Cambodian Valuers and Estate Agents Association (CVEA) Sorn Seap […]
Read MoreExperts optimistic about Cambodia’s real estate recovery in 2023
Despite the Covid-19 crisis and the global economic crisis, local real estate experts have expressed optimism over the recovery of Cambodia’s real estate market in 2023. President of KW Cambodia Oknha Kim Heang said that in the last three years from 2020 to 2022, many real estate companies have closed due to the impact of […]
Read MoreAverage Land Prices in Phnom Penh to Increase by Only 5% in 2023
The average growth rate of land prices in Phnom Penh is expected to be as low as 5% in 2023, mainly due to the concern caused by the upcoming national election, according to the 2023 real estate market forecast report by PropNex Cambodia, The report added that the average land price growth rate in Phnom […]
Read MoreResidential Property Price Index in Phnom Penh Increases to 115.4
In August 2022, the Residential Property Price Index (RPPI) in Phnom Penh increased to 115.4, indicating a 15.4% increase in prices over the base year 2020, according to the National Bank of Cambodia’s report issued on 3 November. The average housing price in Phnom Penh is 468.4 million riels (US$114,164) in August 2022, an increase […]
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