Compass Real Estate > Cambodia Real Estate Information > Cambodian Estate News > As of Q2 2022, Offices and Retails Increase While Rental Rates Fall Down Continuously

As of Q2 2022, Offices and Retails Increase While Rental Rates Fall Down Continuously

2022-07-26
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Summary:By the second quarter of 2022, the number of offices and retails have significantly increased while rental rates have decreased continuously compared to Q1.

Compass Cambodia report - By the second quarter of 2022, the number of offices and retails have significantly increased while rental rates have decreased continuously compared to Q1, according to CBRE Cambodia report on 07 July 2022.

In Q2, the number of offices has increased by 66.9% to over 40,000 square meters, the new supply is expected in 2022, and 40% of the total supply will be strata title by the end of 2023.

However, rental rates of the office market have decreased by -8.7%, -3.1% respectively for Grade B (NCBD) and Grade C (NCBD), but Grade A, Grade B (CBD), and Grade C (CBD) stay in the stable rate by 0.0% compared to Q1.

For retails, they have increased at 68.4%, which over 190,000 square meters are remaining supply expected by 2022.

Meanwhile, the rental rates of retails have decreased -1.4%, -4.8% and -1.6% respectively for Prime Shopping Mall, Prime Retail Podium and Community Mall, but Prime High Street stay at a stable rate of 0.0% compared to Q1.

In Q2, Community Mall occupancy has raised, most recently Chip Mong 598 Mall has been completed, located in Russey Keo district.

Source: Construction and Property

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