Developers pivot to local demand, leading to stable prices of Cambodian condominiums
COVID-19 has impacted the property market worldwide, including Cambodia’s real estate, which is the country’s biggest economic driver. Throughout the peak of the pandemic, economic growth slowed down immensely, but the country is starting to see a turn.
As cases pick up on close supervision, Khmer Times reported that Cambodia’s property market is starting to pick up again through increasing commercial interests.
Below are the main prices for apartments/condominiums in Cambodia:
Estimated at USD212,000 for 3-bedroom apartment/condo
Estimated at USD168,000 for 2-bedroom apartment/condo
Estimated at USD105,000 for 1-bedroom apartment/condo
These numbers are average prices, intended to help guide price ranges across Cambodia. Buyers are advised to visit websites covering condo listings for more information and specific prices.
As international buyers decrease, demand for high-class properties have gone down as well, leading prices for large bedrooms to discount. This shift in demand has caused developers to focus on local preferences and the domestic market.
Various property developers and brands will be presenting their popular projects at the Year-End Property Sale 2020 in late November. This holds a notable opportunity for all buyers interested in purchasing property, especially with the continuous decline of real estate prices.
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