By: Kong Soriya
PHNOM PENH: The economic growth and the people income increasing helps the housing market in Cambodia remaining in a better position, claimed the President of Housing Development Association of Cambodia (HDAC) Oknha Ly Hour.
On the phone recently, Oknha said that the housing market is still better because most of the housing projects of the HDAC’s 50 members are in high demanding. He also said the peace, political stability, and economic growth helping this sector grows.
He added “In the future, I think the housing market is still positive because the young generation in Cambodia are very large so the housing demanding is increasing”
The Ministry of Land Management, Urban Planning and Construction research found that Cambodia needs around 1 million homes by the end of 2030.
Mr. Chrek Soknim, President of Cambodia Valuer and Estate Agent Association (CVEA) believed that the construction and real estate sector are remaining growth in medium or long term.
He continued that three factors to push the sector growth are peace, economic growth and support from the banking system in Cambodia. The terms of issues we have to see in between demand and supply. If demand and supply still in progressing, means the market will not face any crisis in the short-term.
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