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Four major sections of real estate are beginning to show signs of improvement

2021 is a year in which problems remain unresolved due to Kovid 19 and its impact on the real estate market in Cambodia is significant Different, but better signs are starting to reappear.

Housing sector

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Four new Borey land projects have been completed and handed over to clients in four districts: Meanchey, Chbar Ampov, Por Senchey and Chroy Changvar in six This past month. This is according to a report by CBRE Cambodia.

"What is even more remarkable is that over the same period, despite the ongoing economic uncertainty, the project "Twelve have been launched across seven districts, equivalent to about 4,000 units, showing continued strong confidence in the sector."

Khan Sen Sok continues to receive more new projects, with four projects starting construction as Chroy Changvar and Meanchey both see the addition of new projects 2 respectively.

Existing developers have contributed to most of the projects, however new developers have accounted for 25% of new project launches during this period. Demonstrates extensive future supply in the sector.

Condo

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Total condo supply across Phnom Penh increased by 3.97% in the third quarter of last year One of the completion of the first phase of the Urban Village project and increased the supply of affordable condominiums by 15.67%.

During the third quarter of last year, no new projects were launched, but three new projects were launched. In the supply market, which shows that developers who know the market in Phnom Penh are still optimistic about this sector.

The report said that the fourth quarter of last year is expected to see the completion of four more projects, which will contribute to the market of about 2,600 US dollars. Nit. However, construction delays continue to occur in the sector, with six projects currently postponed to 2021.

Average selling prices in all sectors continued to face downward pressure in the quarter. Medium-priced condos fell 1.39%, affordable condominiums fell 1.17% and luxury condos fell 1.02%.

Developers are still active in offering discounts and promotions on condominium units in their projects to maintain sales momentum.

Office for rent

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Three new rental office buildings were completed in the third quarter before: TK Central, The Point and Sayon Phnom Penh, which will contribute to Market supply of additional office 30,007 square meters.

By the end of 2020, vacancy rates across the market are projected to reach the highest level since 2011. In the third quarter, the occupancy rate was 74.7%. However, with the completion of several projects in the fourth quarter of 2020, office occupancy rates are likely to decline. More.

Eight office space projects have been completed since the beginning of the year, with the average vacancy rate rising sharply. The development of some rental offices will be delayed, with an estimated 50,000 square meters postponed until the first half of 2021.

Retail Marketing

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Two Community Mall projects were completed in the third quarter of 2020, bringing the total to 21,800. Square meters.

According to a recent CBRE Cambodia report, two Community Malls projects include The One Mall and 313 Quayside. These two markets add up to 21,800 square meters, accounting for 26.1 percent of the total market and about 6.09 percent to the supply of supermarkets in In the third quarter of last year, as socio-economic activity, investment in real estate began to show signs of improvement in early 2021.


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