The EBA and Corona issues can be opportunities for investors with a long-term outlook

Two real estate experts have found that the issue of EBA withdrawal by the European Union and the hotly contested Corona (COVID-19) epidemic is not a major problem for Cambodia, but it is a great opportunity for real estate investors in Cambodia with a long-term vision.

Through an interview with Mrs.Grace Rachny Fong CEO of Century 21 Cambodia,The parent company of the 21st Century franchise in Cambodia said:“Although Cambodia has a pandemic, we are well protected, so there is limited exposure to the fact that Cambodia is a healthy country.”

She added that according to her real estate agency in China, some investors in businesses in the three provinces affected by the Corona virus are keen to relocate their businesses or factories to Cambodia. This is an opportunity.

As for EBA, she explained: “Singapore, which has no EBA like Cambodia, is rich in human resources, so Cambodia can learn from Singapore. For example, the Ministry of Education, Youth and Sport has been training human resources, especially the Ministry of Education, for promoting entrepreneurship programs to let's them do business and earn profit".

"We have to look at two points; one is the issue and the second is the opportunity," she said. In such circumstances, we must not only look at the problem but also how we can capitalize on our business opportunities for ourselves and our country.

Likewise, Chrek Sok Nim, president of the Cambodian Valuers and Estate Agents Association, echoed her sentiments. As for Corona, he said: "Now it's just a disease of fear and a challenge for those who dare and dare not to invest in real estate in Cambodia, but it is a short-term challenge." .

In response to the overall problem, he added, investors are always seizing opportunities because in such situations investors have high negotiation opportunities, but we need to have a clear vision and purpose and how our investments work with short or long term.

Therefore, in such a situation, long-term investment is a good condition and a great opportunity for profit but if we invest in the short term, we need to look at the location.

Overall, during this time, what's happening is a great opportunity for real estate investors. Property prices are now in a stable state where middle-class investors can easily buy and sell those properties.

It should remind that as of February 27, there were a total of 82,043 cases and 2,801 deaths due to the spread of COVID-19. But official figures indicate that Cambodia has only one case of infection.

Regarding the status of the EBA withdrawal, the European Commission announced on February 12,It will only remove partial EBA trade preferences from Cambodia, which will take effect on August 12 unless further changes are made.

If that were to happen in August, Cambodia would lose about 20% of the EBA's preferential treatment, or about $ 1.1 billion of Cambodia's exports to the European Union.(This news came from Construction-Proprty.com)