A survey from an online real estate portal showed that more than 90 percent of its participants consider buying properties in Cambodia a good investment
Cambodia achieved many milestones during the first half of the year, specifically, the vaccination rollout strategy, which had more than a 90 percent coverage rate in the country, according to CBRE Cambodia. This resulted in the World Bank estimating a 4.5 percent GDP growth for this year.
Exports were valued at more than USD6.6 billion from January to April 2022, up 36.4 percent from the same period last year. Moreover, the country signed FTAs with China, South Korea, and wider community markets linked to the RCEPA.
A survey from an online real estate portal showed that more than 90 percent of its participants consider buying properties in Cambodia a good investment, and domestic buyers have been consistent with their response since 2016.
It is also worth noting that 64 percent of respondents think now is a good time to purchase property in Cambodia, showing greater confidence in the market than last year, reported the South China Morning Post.
“Foreign investors are coming back hard, post-pandemic,” says Thomas O’Sullivan, chief executive of realestate.com.kh. “We have seen a spike in investors from Hong Kong over the past couple of months.”
A majority of the buyers are from the Chinese, Japanese, South Korean, and Singaporean markets. Moreover, there are also active investors in Australia, Europe, and the US.
“Besides favourable foreign-ownership laws in Cambodia compared to other markets in the region, the ease of doing business is another factor,” added O’Sullivan. “Cambodia is extremely foreign-investor friendly, and it is easy to establish a business here.”
In the period between 1998 and 2019, Cambodia’s economy grew by 7.7 percent annually, one of the fastest in the world before Covid-19 struck. The economy is estimated to go up 5.3 percent this year and 6.5 percent next year – and the property sector is already showing signs of a strong rebound.
The Property Report editors wrote this article. For more information, email: [email protected].
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