Phnom Penh: Although Cambodia’s economic growth has slowed slightly due to Covid-19, experts in Cambodia claim that the stability of property prices in Cambodia is in the third or fourth best place in the ASEAN region.
Mr. Kheang Puthy, Kheang Puthy, chairman of the Association of Cambodian Real Estate Professionals, told Propertyarea.asia that Singapore had serious cases of Covid-19, but due to the protection measures taken by the country has recovered from the pandemic and real estate prices have risen.
“For real estate stability, Cambodia is ranked third out of 11 countries in ASEAN,” he said. He pointed out the strengths of Cambodia, saying that the real estate prices in Cambodia are still low, which is good for investment, political stability and good geographical location.
However, he said that Cambodia also has a weakness: the education of Cambodians is still low.
Meanwhile, Mrs. Ann Sothida, a real estate expert, also claimed that the real estate sector in Cambodia has grown over the last five years and also has high potential compared to neighboring countries and low property prices compared to other countries in the ASEAN region.
“Compared to the effects of Covid-19, Cambodia has less of an impact than countries in the region, although now the number of carriers and deaths caused by Covi-19 seems to be slightly higher,” she said. “She sees that Vietnam’s real estate market is stable, the number one value in ASEAN, and Cambodia can be ranked third or fourth among all countries in ASEAN.”
The 10 member countries of the Association of Southeast Asian Nations are Cambodia, Thailand, Laos, Vietnam, Myanmar, Brunei, Malaysia, Indonesia, Singapore and the Philippines.
As Covid-19 has hit the world and impacted the economy, Cambodia’s economic growth rate has slowed from more than 7 percent to -3.5 percent last year, but will return to around 4 percent this year, according to the analysis and forecast by major international institutions such as the IMF, World Bank, ADB, AMRO and so on.