Cambodian real estate seems to be stagnant, but there is no sign of decline for these reasons!
The advent of Kovid 19 has pushed Cambodian real estate in 2021 to remain uncertain, causing investors to disrupt their activities, but there are still some investors who continue to invest in older construction. To complete the project as planned.
However, even with the slightest disruption affecting the real estate sector, land prices do not seem to be falling, stabilizing and stagnant in some areas, but some landowners may lower their prices due to the urgent need for money And so on. But overall, it is seen that the price of land and houses has not dropped at all, just that the buying and selling activities seem to be declining.
According to an interview with Business Cambodia , Ung Hok Socheat , head of real estate in Chroy Changvar at Century21 Dream Property, said that Cambodian real estate in the Kovid 19 era seemed to be stagnant, with no sign of falling for any reason. The two main are: First, the customer still has reserves in hand, so the transaction is still operating, which makes the trading activity is not significantly affected, the second important thing is that the bank still provides loans to buy and sell real estate. That those who have the need to buy or sell real estate can still borrow from the bank, so if the bank still lends, the buying and selling activity is still there.
In fact, if we look at the infrastructure project is still in this crisis, the Royal Government is still continuing the project to build bridges, roads, for this reason and make land rise in the area, especially new projects are still a magnet. Attract investors to reactivate.
In addition, during the 1940s, real estate investment remained a "strong pillar of the Cambodian economy," said Chrek Soknim, president of the Cambodian Association of Real Estate Appraisers. At present, Cambodia is one of the countries affected by Kovid-19 like other countries in the world, but the real estate sector is still a strong pillar of the economy in the Kingdom of Cambodia because of this sector. Supported by the Royal Government and especially the banking sector has always provided strong loan support to the real estate sector.
The real estate sector in the Kingdom of Cambodia, especially in Phnom Penh, continues to flow normally, even though we have lost a foreign partner who did not come to invest and did not see opportunities in the Kingdom of Cambodia, the number of foreign transactions is declining But the domestic economy is still an investment opportunity.
He said that buying and selling real estate is also a boost to economic growth, boosting the livelihoods of people, landowners or property owners, because when turning to real estate to get investment opportunities elsewhere.
He added that the real estate sector will continue to gain momentum in 2021 when the Kovid-19 vaccine solution is available, as the Kovid-19 vaccine will help people overcome their fears. The number of people coming to Cambodia will increase.
