CBRE: Cambodia’s Real Estate Market to Recover by 60% in 2021, but Lower Than 2019 Baseline

• Kongleaphy Keam
• 11 January 2021
• Local News
• 6989 Views

Managing Director of CBRE Cambodia Ann Sothida predicted that Cambodia’s real estate market will improve by 60% in 2021 compared to 2020 but is expected to be lower than the 2019 baseline.

Ms Sothida told Construction & Property Magazine on 08 January that 2021 will be a better year but not as good as it was in 2019, since a large proportion of Cambodia’s market is contributed to by overseas investors.

“Due to the introduction of the vaccine, the market is expected to improve a lot. However, foreign investors still need time to prepare and wait for the situation in their country to improve before they start investing in Cambodia,” said Ms Sothida.

She added that the fastest recovering sector is the residential sector, as the market has relied on the local buyers.

The office market is projected to be the second-fastest-growing market after housing, followed by commercial, and then the retail market. Meanwhile, the hospitality sector will take a much longer time to recover, which should be by 2022 or 2023.

Ms Sothida also added that, despite the uncertainty, 2021 represents an opportunity because there might be more real estate sold at below market price. Thus, investors should prepare more cash to seize any opportunities that arise.

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