VTrust Soft Launches 2030s Real Estate Report

• 18 December 2018
• Local News
• 2217 Views

In a bid to promote the real estate sector in Cambodia, Cambodia’s largest property appraisal firm VTrust Appraisal Cambodia has launched its decennium report on the real estate sector in Phnom Penh.

On 18 December, 2018, VTrust presented its report on the Phnom Penh serviced apartments market, which is part of its main report titled ‘Phnom Penh 2030s: Ten Predictions for the Real Estate Sector’.

The report shows that a total of 9,021 net rentable serviced apartment units in Phnom Penh in more than 355 apartment buildings across all 12 districts of the capita. This number is expected to grow by 28,000 net rentable units by 2030.

Speaking on the sideline of the soft launch event, Mr Kuy Vat, Chairman of VTrust said that “this report will contribute to the real estate sector to make it run smoothly and sustainably….ifthe real estate sector is working well, it will also attract other sectors”.

The companies participating in the event were also interested in purchasing the report as it provides highly beneficial information.

“In Cambodia, what is important is information; when we have all this information we can benchmark the important points especially if we are residential developers.So we benchmark on residential to see what we can develop, how high the price can be, and for who…so all the information will be good for us” said Mr Heng Punnareay, Senior Business Development Manager of residential developer Creed Group.

Meanwhile, Mr Hoem Seiha, Director of Research at VTrust, said that this report is very important for developers as well as other people interested in the industry, because it is 95% trustworthy.

According to Mr Seiha, the report is based on three factors including 1) economic growth and stability, 2) growth of each market and a look at the past, 3) resident statistics such as the increase of expatriates, all of which are incorporated to help with the predictions made in the report.

The report is expected to finish its research and publish 50 copies by March 2019 where there will be information on the development of 10 major aspects including 1) geography and democracy 2) construction 3) residential markets 4) retail and office markets 5) land subdivisions and land prices 6) industrial estate market 7) tourism and hospitality 8) economy and finance 9) urbanisation and urban expansion 10) urban infrastructure.

The 300-page report costs US$3000 but comes with a discount for pre-orders.

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