Phnom Penh: After being severely affected by the global economic crisis caused by the pandemic in 2020, for 2021, real estate experts claim that it is a good time for those who have enough money to invest, as well as develop their project.
The President of Cambodia Valuers and Estate Agents, Mr. Chrek Soknim, said this weekend that 2021 is the most suitable time for those who have enough capital and cash flow to invest or start developing projects to enter the market during the end of 2021 or the beginning of 2022, after the end of the crisis and the global vaccination starts.
“Now, in some major countries, the vaccine is gradually being used and will continue to be distributed to other countries, of which Cambodia is also prepared to use the vaccine in the country,” he said. “So with the universal and highly effective vaccines, the economic cycle will resume and the real estate market will return to normal.”
Mr. Soknim said that on this occasion, for those who have enough money, they should buy land or houses for sale or rent for profit and the price starts to go up next year or later year. Especially for those who have a package of money should buy a condo project that is affordable and in a good location, because the condo offers the opportunity to pay in installments for a long time and after the end of the project can be resold at a high price or can be rented at a high price. But before buying, be sure to buy from a reputable project developer, avoid buying a project that does not run smoothly, which can cause losses.
Mr. Sorn Seap, CEO of Key Real Estate, said that in 2021, provinces with potential to buy land, invest or develop other projects should look at two coastal provinces, Kampot and Kep with tourism potential.
“Kep and Kampot provinces have become popular tourist destinations for local tourists, especially after the completion of National Road 3, which will further encourage tourists to travel to these two coastal provinces,” he said.
He said that for investment in the land sector in these two provinces, there is still a chance to make a profit because the scope of vacant land is still large and the price is not very high, so there are still investment opportunities, especially land located near the mountains, next to the creek, which is suitable for development as a recreation area or leisure home. However, the purchase of land is not very profitable, until the purchase for development projects into other tourist areas can have good potential.