Considering the noticeable increase in international investors, respondents of the most recent Real Estate & Construction Survey by AmCham Cambodia agree that buying property in the Kingdom is now a good investment.
AmCham Cambodia is a non-profit membership organization composed of both American and Cambodian companies linked to US commerce, promoting international trade through advocating connection and linkages among its member companies.
The survey was gathered from a total of 517 respondents across the public and private sector, including bank and financial company workers, legal professionals, and government workers.
Over 62% of them deemed real estate as a good investment, and over 63% said they expect property prices to rise in the next year as the Kingdom continues to recover from the impact of covid-19.
With regards to market prices, over 57% felt that many properties nowadays are unaffordable. This is an open opportunity for developers to begin targeting lower-income to middle-class buyers.
Meanwhile, when examining property preferences, the respondents named land as the most preferred investment with 43% making this choice. This was followed by Boreys (23.96%), condo units (20.83%), and commercial properties (6.25%).
The preference for residential properties may indicate growing interest in not only doing business but also living and settling in Cambodia. At present, Chroy Changvar District in Phnom Penh is the most popular area for property buyers, followed by Sen Sok and Chamkarmorn.
The AmCham survey report also pointed out the issue of oversupply in today’s real estate market, especially after the pandemic hit. Nevertheless, the Kingdom anticipates the return and even intensification of foreign investments through commercial collaborations and expects the economy overall to end the year on a positive note.