Cambodia real estate sector to flourish in 2023

Many foreign investors have been sending inquiries about the country’s properties 

Construction & Property reported multiple openings of real estate developers in light of foreign investors taking interest. While the sector may take time to fully recover from the impact of the pandemic, it is expected to show signs of growth at the rate of the country’s overall economic recovery.

According to Cambodia Investment Review, there is no doubt that 2023 would be the year of bigger deals and inbound foreign investment that would bring the real estate sector back to its healthy pre-pandemic levels. Adam Fitzpatrick, country director at local property portal IPS, told the publication that foreign investors have been showing a stable amount of interest in long-term investments in Cambodian land and properties. In light of this growing interest, foreign investors are projected to encounter multiple opportunities to make hassle-free investments due the country’s history of managing units and securing long-term tenants. 

Nevertheless, Fitzpatrick cautioned that external factors will affect the market in 2023. The global economy, in particular, would be the main influence, especially with the growing cost of running a business, regional conflicts, and geopolitical threats.

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“However, I’m still very optimistic about Cambodian real estate and I do believe we’re relatively insulated from global economics,” he added. “There are plenty of good opportunities in the market, but you have to understand real estate in Cambodia and the nuances of doing business here. If you want to make a splash in the commercial market, do your research, find a trusted agent, and focus on relationships with advisors, and good opportunities will be introduced in time.”

There are multiple other factors influencing the sector’s growth for 2023, noted private entity Aquarri. Apart from the global economy, some investors have been extra careful in choosing where to place their investments after the pandemic crisis. The re-opening of China also makes a bigger positive impact sinceMainland Chinese, Hong Kong, and Macau-based corporations have already been inquiring about local properties.

The Property Report editors wrote this article. For more information, email: [email protected].