Phnom Penh Apartment Rental Housing Doubled Growth Over Demand.

According to the latest research report released by VTrust Appraisal, there are 355 apartment projects for rent in 12 districts of Phnom Penh, with a total of 9021 apartments. It is estimated that by 2030, rental apartments in Phnom Penh will triple, equivalent to 28,000 apartments.

Hong Xiha, research director of VTrust Appraisal Assessment Co., Ltd., has made research and forecast that the supply of apartments for rent in Phnom Penh City will maintain a steady growth rate of 10% per year from now until 2030, which can be said to increase the average number of apartments for rent by 1580 per year.

He disclosed that Chamkar Morn District is the area with the largest supply of rental apartments, with 230 apartment projects, equivalent to 5820 apartments, accounting for 65% of the total market share. Then there is the Valley Heap Area, which has 56 apartment projects, equivalent to 1446 apartments, accounting for 16% of the total market share. Thirdly, there are 635 apartments in Prampir Meakkara District, while 590 apartments in Doun Penh District.

Hong Xiha pointed out that in the fourth quarter of 2018, about 7600 apartments were available for rent. The rental rate of apartments in Phnom Penh was equivalent to 84%, of which 86% were rented in Chamkar Morn District and 76% were rented in Tuol Kouk District.

He said that the largest number of apartments on the market is one-bedroom apartments, with a total of 4956 apartments, accounting for about 55% of the total supply market share. Two-bedroom apartments ranked second, with a total of 3098 apartments, accounting for 34% of the total supply market share. Three-bedroom apartments and enthouse are mainly aimed at the high-end apartment rental market, only 428 apartments, with a market share of less than 5%.

It should be noted that the report "Phnom Penh 2030s: Ten Projections in the Real Estate Field" which was studied and issued by VTrust Appraisal and Zillennium (Real Estate Market) will be officially launched on March 29 next year.

There are three different language versions of the report, namely Cambodian, English and Chinese versions, which will introduce 10 key focuses in the real estate field, namely, 1. geographical location and population; 2. construction; 3. residential market; 4. retail and office markets; 5. land market; 6. industrial market; 7. tourism and services; 8. economic and financial fields; 9. urban areas. Urbanization and urban expansion; 10. Urban infrastructure.