Property transaction plummeted over the last month

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By: Ranet
Phnom Penh: The Covid-19 community outbreak event of February 20, has seriously affected the trading of all types of real estate, including the housing market, land subdivision business and condo due to people have stopped going out for fear of contracting this deadly virus.
Mr. Long Kimsour, CEO of Century 21 Advance, confirmed by telephone on the evening of March 23, 2021 that after the start of the outbreak events of February 20, until now, all types of real estate in Cambodia has been suffered and seriously affected both the purchase and sale of land, housing, condominiums.
“We look at the real situation now, it is quiet. In malls, there are only sellers, but there are no buyers because they are afraid of Covid-19, they do not go out,” he said. “The real estate market is not so active and when that happens like this outbreak event, it becomes much quieter and when activity in the real estate market recovers depends on the situation,” he added.
Mr. Sam Soknoeun, president of the Global Real Estate Association (GRA), said that the events of February 20 that are happening now are a difficult event for Cambodians as it affects almost every type of businesses, including real estate.
“Seeing this situation, people do not dare to go out to do business or negotiate in other transactions, especially in the real estate sector during this event, sales are declining, compared to previous events,” he said
“This month, sales have fallen sharply because they are not able to meet or discuss. Now I can say that it will be very affected if the epidemic persists,” he said. “It is not just the real estate sector that is affecting the market, other sectors are also affected, including the daily living of most people.”

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