The number of homes is increasing to 25,000 per year due to two important factors

The supply of housing is up to 25,000 units per year, due to demographic growth and increasing incomes as the economy continues to grow.

According to a report which studied by V-Trust Appraisal's research team of experts, has recently been revealed that of the 14 districts in Phnom Penh; seven districts have been active where has also been constructed to provide housing as needed.

According to the report, the seven districts, which are trapped in the record of housing supply, which spurred new housing growth in Phnom Penh, were Por Senchey, Sen Sok, Khan Dangkao, Chbar Ampov, Meanchey, and Chroy Chang Va.

V-Trust Appraisal Research Director Hem Seyha, who authored the report "Phnom Penh 2030", said that Phnom Penh is growing at an estimated 4% annually, with all new arrivals from other provinces in the country, especially Phnom Penh.

He added "These demographics are required for housing supply, while private-sector mortgage lending is more convenient, with repayments giving people the opportunity to buy a home, and that is a factor to promote continued construction and supply growth.”

According to the V-Trust Appraisal's studying, by the year 2030, the number of urban boreys in Phnom Penh will be approximately 450,000, with the current housing supply booming 9 percent equals to around 25,000 homes a year.

Mr.Nget Chou, economic and social real estate analyst in Cambodia, said that the rise in housing demand has driven up property prices in Cambodia. He added that experts predict that real estate prices are growing at an average of 7-10 percent per year, and that is likely to be achieved given property prices, especially in Cambodia's land sector still low compared to other Asian countries.

He cited data released by the Global Property Guide that the average land price of a city in Cambodia is around $ 2,900 per square meter. Thailand costs $ 3,900, India $ 10,900, China $ 11,800, Singapore $ 13,700 and Hong Kong $ 28,500 per square meter.(This news came from Property-Area.com)