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Attention! Real Estate Investor! Cambodia Housing Price Data in May is Out!

2021-06-12
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Summary:Average price of new houses in Cambodia in May.

Cambodia Compass report, In 2021, the "2.20" incident suddenly happened and lasted for more than three months, which gave us panic, lockdown and isolation at home. Under the guidance of various government policies, all walks of life across the country have actively returned to work to reserve energy for economic recovery. In real estate sector, Cambodia's new housing market is slowly recovering.

According to the latest data of Compass Real Estate platform, in May 2021, national average price of new houses in Cambodia was $1926/㎡, which continued to drop slightly and average price of new houses in Phnom Penh was $1980/㎡.

Due to continuous pandemic situation, average price of real estate market in Sihanoukville remained at $1945/㎡, with overall stable fluctuations, and there was no obvious decline in the listed house prices.

 

Average price of Cambodia new houses in May is $1926/㎡ (estimated ¥12519)

According to Compass data, average price of new houses in Cambodia in May was $1926/㎡. And comparing to average prices of real estate in various provinces and cities, Phnom Penh and Sihanoukville are in the lead as the core cities of Cambodia.

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Overall, Cambodia housing prices are divided into three tier. In the first tier, Phnom Penh/Sihanoukville, overall average price is maintained at $1950/㎡; The second tier is Siem Reap/Kandal/Kampong Cham with an average price of $1450/㎡; The third tier is Koh Kong with an average price of $1180/㎡.

For overseas real estate investment in Southeast Asia, the capital city Phnom Penh is currently recommended for investment in Cambodia, while Sihanoukville still needs to some time to understand.

As for real estate investment in Sihanoukville, it is suggested to enter the site to learn about it after the "Peaceful Sihanoukville" has achieved initial success and the overall pandemic situation in Sihanoukville has recovered.

With the spread of vaccines and the resumption of work and production, real estate investment in Phnom Penh is a good stage for developers to enter the market. But the research of real estate projects had to be paid attention to, existing house or the project to be delivered is the first priority.

 

Chamkarmon District $2612/㎡(estimated ¥16983), leading the price of Phnom Penh

Phnom Penh, as the capital of Cambodia, is the leader of Cambodian economy, so is the real estate industry.

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Phnom Penh has a total of 14 districts with an obvious price difference, the price of core areas and high-quality areas are stable.

Among new project’s average price in different district of Phnom Penh in May, the average price of new projects in Daun Penh, Chamkarmon, 7 Makara, Chbar Ampov, Mean Chey and Toul Kork all entered $2000/㎡.

It is worth noting that there are very few projects in Daun Penh. The built-in projects in Daun Penh are mainly high-end projects such as One Park and Flatiron By Meridian and the average price of new projects are pretty expensive, but the overall housing price is not as much high.

 

Phnom Penh new projects are mainly gathered in 3 districts; Sen Sok and Pou Senchey mostly has low average price

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Chamkarmon, Sen Sok and Pou Senchey have more projects on sale, covering half of the projects on sale in Phnom Penh. This data also reflects the development potential of these regions.

As the core area of Phnom Penh, Chamkarmon has a high price with many properties, and its real estate average price in May was $2612/㎡. Sen Sok and Pou Senchey (around the airport) are the new development areas with large amount of new projects and low average price. Project types are mainly local townhouses and villas. Sen Sok real estate average price in May was $1649/㎡, and Pou Senchey was $1338/㎡.

 

When pandemic is normalized, how new housing market in Phnom Penh will be sold off?

Capital of Cambodia, Phnom Penh, is an investment of US dollar assets, a developing Chinatown, and a favored real estate investment city. However, with the renovation of gambling industry and the continuation of the "2.20" epidemic, some overseas investors who withdrew or could not enter the country, is giving up or remaining just to observe. But this does not mean that Phnom Penh's property market will usher in a cold winter.

High quality projects and projects that are close to the market, aren’t afraid to accept the market challenge. According to Compass’s data, due to the strong perk policies of new development projects during the epidemic period, attention of local customers toward new projects has gained.

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According to the incomplete data of Compass real estate, 131 houses of 8 popular projects in Phnom Penh were sold off in May. R&F City sold 35 houses in May. Existing house of the project is on sale and is expected to be delivered by the end of June.

 

Which projects are the most popular in May?

After learning about the housing prices in Phnom Penh, Cambodia, let's take a look at the hot real estate in May!

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Morgan EnMaison project, with its scarce Mekong River View and the strong sale of previous project developments, has attracted the attention of local and overseas buyers;

R&F City project has large community, hardbound existing house, located in Phnom Penh core area and other highlights, together with many perks in May, has become a hot spot in the hearts of home buyers;

Agile Sky Residence project is a located in BKK prime location. The surrounding facilities are mature and perfect, and the high quality project itself;

Le Condé BKK1, which located in BKK District, has also attracted much attention due to its location, supporting facilities and other comprehensive highlights. At present, Le Condé BKK1 is in the foundation stage, and the project is expected to be delivered in June 2023.

Coastal City project, located in the province of Koh Kong, is a city with unique advantages in terms of planning and seascape resources. It has a great investment value and has always been the focus among investors.

 

The outbreak of pandemic has had an irreversible impact on global economy, as has in Cambodia.

In this situation, the challenge is not only for investor’s vision, but also a huge challenge for the strength of new project development brand. After facing with the uncertainty of pandemic situation, major developers and projects in Phnom Penh will also experience the reshuffle of the industry and market. From investment property to residential property, from high premium to reasonable pricing adjustment, only high-quality and local projects can develop stably in the predicament, and such projects are the ones with investment value.


Source: Cambodia Compass original

Editor: Liu Yuan, Fangbuyi        Chief Editor: Sunnie         General in Chief/Executive Producer: Nicole        Translator: Malinda


Compass global site: Cambodia | Singapore | UAE | Thailand | Philippines | Myanmar | Laos

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Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

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