Condo Supply Added Near 26,000 Units to the Market


by Bee
Phnom Penh: Although at the beginning of 2021, the light of the positive signs of the real estate market is not yet clear, for the growth of the supply of condominiums continues to increase at the beginning of this year, the growth of the supply of total condominiums in the market increased to nearly 26,000 units.
In the fourth quarter of 2020, a supply of 937 new condominium units was added to the condominium market in Phnom Penh, bringing the total supply of condominiums to 25,914 units by the end of 2020, according to the latest report from CBRE Cambodia.
According to the report by CBRE Cambodia, at the end of 2020, the BaoLi Mansion mid-range condominium project in 7 Makara district supplied 644 units to the market, while the Royal Park Condo project was affordable in Toul Kork district supplied 293 units to the market.
With the increase in the supply of condominiums, the international real estate company has divided condominium projects into three categories: “luxury “, “mid-range” and “affordable”.
The price of luxury condominiums averaged $3,000 per square meter in the fourth quarter of 2020, down 1.19 percent from the third quarter, the company said.
The average price of mid-range condo was $2,250 per square meter, down 5.89 percent, while the average price of affordable condo was $1,400, down 1.56 percent.
For the fourth quarter, the luxury condo rental market was $12.69 in the average per square meter, down 0.08 percent per month, and the affordable condo was around $10.20, down 6.7 percent.

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