Compass Real Estate > Cambodia Real Estate Information > Market > First quarter report of Compass apartment rent market

First quarter report of Compass apartment rent market

2020-04-25
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Summary:How about the real estate market during COVID-19? This article may help you to figure out.

The Cambodian pandemic continues to improve, providing greater possibility for the local economic recovery. In the past three months, Cambodia has suffered a lot in all fields, and the rental market is no exception.

In the first quarter, affected by the pandemic, the vacancy rate of houses increased, and discounted houses were everywhere. However, many owners failed to keep up with the pace of rent reduction, and many owners reject reduce the price and maintained observing attitude towards the market.

How about the real estate market during COVID-19? This article may help you to figure out.

In first quarter, 11035 housing for rent on Compass, 6824 apartment unit which account for 62%, followed by villa, town house and shop.

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Compass conducts data statistics from the perspective of the mainstream apartment in the rental market, in order to analyze changes in the rental supply and demand market in the first quarter of 2020.

First quarter apartment for rent supply on Compass-various provinces

In the first quarter, the 6824 apartments for rent on the Compass platform were mainly distributed in Phnom Penh (93%), and a total of 444 units in Sihanoukvile and Siem Reap (total 7%). There are a few apartment in other regions except Kandal Province and Banteaymeanchey (Total 10 units) Apart from apartment rental, no other provinces have new listings.

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First quarter pf apartment demand-province distribution

From the customer’ demand on Compass platform, 91% customer demand is Phnom Penh in first quarter, which is consist of the apartment supply on Compass.

Except from Phnom Penh, Sihanoukville, Siem Reap, there are 100 apartment demand in Kampot, Kandal, Kampong Cham and other 16 provinces which have few housing in there.

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First quarter apartment rent demand in province

In the first quarter of 2020, 85% of the Compass platform rental apartments were 1-2 bedroom apartments, and 94% of the platform customers' apartment rental needs were concentrated in 1-2 bedrooms, of which 1 bedroom demand accounted for 76% %, While the supply-demand ratio of 3-10 bedrooms and the whole house basically keeps the supply to be twice the demand (and the supply and demand of the relevant units is about 4 times).

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Region and price of 1-2 bedrooms apartment for rent in Q1

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The data shows that the price of the Chamkarmon with sufficient housing supply is relatively high, and the hot market in BKK and Tonle Bassac river has increased the overall rental level. Sensok District is a sub-core area, and the price-to-rent ratio is not bad. Chroy Chongva District , there are few old listings, most of the newly-furnished apartments rental are expensive. There are not many online listings in Pousenchey District and Russei Keo, but if there is a rental demand, you can use the Compass-help me find a house function, one-click to publish your demand, professional agents will help you find the suitable housing.

Since the second half of last year, Sihanoukville’s rental has reduced in a certain way, after the ban of gambling industry and the impact of COVID-19, the rental market has become normal already.

Compare with last year, the rental in Siem Reap keeps stable. Most of the housing is town house style-apartment, due to the location and decoration, price are various. For one bedroom apartment usually cost $200-$400, 2 bedrooms usually cost $300-$600.

Apartment view times&consultation rank of apartment in Q1

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From the perspective of the number of housing views and consultations in various regions, Chamkarmon is the most popular area due to the large number of housing and the largest total number of browses and consultations. From the perspective, the Sen sok District and 7 Makara District are the areas where customer care the most initially. The two districts are relatively central and the rental advantage is also obvious.

Sihaoukville and Siem Reap’s housing view are insufficient, one reason is the insufficient housing listing, and both Sihanoukvile and Sien Reap are tourism cities, due to the impact of COVID-19, tourism in Cambodia had been hard-hit.

Apartment for rent supply and demand price in Q1  

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According to the centralized browsing and consulting of the housing of the Compass platform, customers initial demand in the first quarter, as well as the integration analysis of the price of the house-finding demand proactively released by the customers, the intentional prices of all regional customers are lower than the average market supply prices. For 1 bedroom, only 7 Makara District-PP,Pousenchey District-PP, Siem Reap, the average price of supply and the customer's intention price gap are kept within 50 US dollars, and the supply and demand prices in other regions vary by 50-150 US dollars, and the Sihanoukville , market expectations are still not optimistic. The supply and demand prices of 2 bedroom rental apartments are not balanced, and the price gap is relatively severe. This set of data objectively reflects that the supply and demand of the Cambodia rental market in the first quarter did not match exactly . If the pandemic does not end, the rental market will continue to be sluggish.


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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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