Activities in condo market resume

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By: Bee
Phnom Penh: Experts said that the buy and sale activities in condo sector resumed gradually after the government ended the lockdown and ease people’s travel in Cambodia.
Mr. Khorn Kungkea, CEO of ERA Cambodia, said yesterday that after announcement of the end of the lockdown, buy and sale activities in the sector in Cambodia will gradually resume. He added that although during the lockdown of Phnom Penh and Takhmao, there were still buyers or investors making online bookings, but the speed of booking or buying was not as fast as before the lockdown.
“After the lockdown, my own guests started coming out to sign contracts and continue to make reservations,” he said. “Those who have good resources or positive cash flow should invest in condominiums now because it is a good time to invest in condominiums.”
“There is no better opportunity than now because during Covid-19, the price of a condo remained the same without any increase and the payment was flexible, and during the period after Covid-19, the condo price will increase. That will benefit investors.”
Four new condominium projects were completed in the first quarter of this year, contributing to the supply of 793 units in the condominium market, while the supply of condominiums is expected to reach 10,825 units in 2021, according to the report of CBRE Cambodia on April 6, 2021.
Mrs. Ann Sothida, an independent expert with many years of experience in the real estate sector, said that the condominium market is classified as the residential sector of the real estate sector, so the housing sector is less affected than other sections, such as the hospitality sector (hotel) and the retail market, are still affected.
“In recent years, the condo market has been completely focused on local investor, and the condo market has grown as local investors see the benificial factors such as central location and improved infrastructure and the price is reasonable compared to the price of a house in the suburbs,” she added.
Despite the spread of Covid-19, she is convinced that the vaccine is being rolled out in Cambodia as well as in other countries, so that all will soon improveiIn the next two to three months.
Cambodian government ended lockdown in Phnom Penh and Kandal’s Ta Khmao city, effective from 6 May 2021. The decision allowed the public to enter and exit Phnom Penh and Ta Khmao city.

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