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Logo of Phnom Penh Post newspaper Phnom Penh Post - Phnom Penh property market resilient

Phnom Penh property market resilient

Central Market in Phnom Penh, Cambodia.
Central Market in Phnom Penh, Cambodia. Hong Menea

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The condo sector will see a large amount of units launched back on to the market in 2013, as projects that sold extremely well off plan before 2008 are now completing.

Demand for condominiums is increasing as the city expands, and with land prices increasing the domestic market is likely to look towards condos.

Industrial property remains buoyant, with the risk of an impact from an economic slowdown in the US and EU, the two largest destinations of the Kingdom’s key garment and textile exports, not yet materialising, with garment exports rising almost 10 per cent in the first nine months of 2012.

Trade and investment relationships with Vietnam, South Korea and Japan are also strengthening, CBRE says, which bodes well for the future.

The company said it has noticed an increase in the number of Japanese expatriates coming into Cambodia in the last year, with an increasing number of Japanese companies entering Cambodia and opening up offices in Phnom Penh, such as the Bank of Tokyo, Mitsui and Itoshu.

To contact the reporter on this story: Rupert Winchester at rupert.winchester@phnompenhpost.com

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