Experts discuss about Cambodia's real estate situation before and after the general election

Recently, BTV News conducted an exclusive interview with a real estate expert, Mr. Sorn Seap, President of the Cambodian Valuers and Estate Agents Association (CVEA) under the topic of "Cambodia's Real Estate Situation Before and After the General Election".

In the interview, Mr. Sorn Sieb said that Cambodia real estate prices have fluctuated sharply since 2000.

long before the election from 2000 to 2008, Cambodia real estate prices fluctuated sharply, due to the economic crisis and after the election in second half of 2008 , real estate prices plummeted by as much as 50%. Until 2011-2012, prices real estate prices returned to equilibrium. At the beginning of 2019, we saw  many opportunities in the Cambodian real estate market, but unfortunately, problems such as the outbreak of Covid-19, illegal online games and the war of Ukraine have brought the economy into a downturn, which has also caused most of the real estate industry to stuck at that time.

Mr. Sorn Seap pointed out that, the political become more stable after the general election,  the people have more confidence in the kingdom's politics compared to the previous mandate and the new government is full of potential and ability in the leadership.

During the six-month to one-year transition period in 2023, the first investment product should be real estate which resilient to inflation.

Looking at the construction sector, Mr. Sorn Seap pointed out that there are still some problems such as lack of responsibility, gaps, and lack of restrictions. He said that the national government should take measures to solve the problem, and not be too restrictive on projects already under construction, but should be restricted to the new projects that have not yet started construction to avoid problems after the building is formed. "

Finally, Mr. Sorn Seap also gave some suggestions for real estate developers should make predictions in advance, especially cash flow, because the risk will be less. As for buyers who want to invest in real estate should seek advice from financial institutions or real estate experts to make the right investment after understanding their income and expenses to avoid future risks.