Real estate sector will recover after Covid-19 community outbreak contained, say insiders


By: Mr. Bee
Phnom Penh: Real estate experts say that the activities and transactions in real estate sector will improve after February 20 Covid-19 community outbreak event, a short-term event, is contained in the near future.
Mr. Chrek Soknim, President of Cambodia Valuers and Estate Agent Association, told that the February 20 event is a short-term event that the government experienced in managing in the recent past as it was required that all people and institutions work together to prevent this crisis in order to close the event in the near future.
“I think the February 20 event is short term and for the real estate sector, it will improve as well, with the participation of all the people and institutions in containing this community event,” he said.
“After the event on February 20 is under control, real estate investors will resume investment or transaction activities,” he added.
Sam Soknoeun, president of the Global Real Estate Association, said that investors had expressed hope after Cambodia receive Covid-19 vaccines, but unfortunately the February 20 community event erupted, which could have a major impact on investors in the sector. Real estate buyers and sellers are always expecting something in return for the time they are buying.
They were now worried about how the current event would affect the economy, making them reluctant to buy, he said.
However, the current community outbreak event would not have a long-term impact on Chinese investors investing in real estate in Sihanoukville, as the government would be able to control Covid-19 with the participation of all people, he added.

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