Three Types of Property in Phnom Penh Show Post-election Positive Change

• 22 October 2018
• Local News
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Photo by CBRE Cambodia

Three types of property in Phnom Penh showed positive change in the third quarter following the national elections in July, according to a press release from CBRE Cambodia on 19 October, 2018.

Titled “Investment On The Up: Next General Election”, the report shows that condominium, office and retail markets have increased significantly after the July general election.

The condominium market in Phnom Penh in the third quarter of 2018 saw a slight increase in completed supply within the condominium sector, a q-o-q rise of 1.8% to a total of circa of 12,048 units. In addition, 6 new condominium projects launched, adding a further 2,374 units to the supply pipeline, a 5.2% increase in new launches q-o-q.

“Following the smooth elections recently held, buyer demand for off-plan condominiums has remained positive with enquiry numbers increasing” said Mr Jonathan Flexer, Residential Project Marketing Manager.

Meanwhile, office supply in Phnom Penh has increased slightly in Q3 2018 while Keystone added just over 15,500 square metres to Grade-B supply, marking a growth in total office stock of circa 4.6% q-o-q. By the end of this year, an additional 56,937 square metres of office space will be introduced into the market.

While claiming that the Phnom Penh office sector continues to put in a robust performance, Mr James Hodge, Associate Director said that “particular activity is noted from marketing, media and IT companies, alongside banking and logistics”.

For the retail market, there has been a marginal increase in completed supply of 1.8% in Q3 following the introduction of The Bridge. However, the company has forecast that the relatively high amount of anticipated supply scheduled to complete in the near future will pressure landlords

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