By: Sotheary
Phnom Penh: The Housing market continues to grow for a long time, according to experts and developers in this field.
Mr. Chrek Soknim, the president of Cambodian Valuers and Estate Agents Association, said recently that the housing market is still showing good signs as Cambodia has a large young population, with support from banks and microfinance, the living standard of the people and the increasing number of people coming to live in Phnom Penh every year.
“Growth in the market or demand for housing continues, but the speed of sales, faster or slower, depends on the fame of each project and the focused target customer,” he said.
According to a study by the Ministry of Land Management, Urban Planning and Construction, between 2015 and 2030, Cambodia needs about 850,000 homes nationwide.
Neak Oknha Ly Hour, President of Housing Development Association of Cambodia, also said that in 2022, there are good signs of optimism for both the economy and housing market, tourism, especially tourism, because as tourism increases, other sectors will perform better in parallel.
“The housing market may be risky for investment buyers, but buying for living is not a problem as demand for accommodation continues to rise,” he said. “Therefore, I would like to ask you to think carefully before you decide,” he said.
“Neak Oknha Ly Hour remains optimistic that the housing market will continue to grow as people become more affluent, buying homes for their children who are getting married and separated from their families, both old and new customers.”
According to a study by Urban Living Solution, the population of Phnom Penh will increase between 4.5 to 5 million people by 2030.
