{"id":1423,"date":"2019-01-18T11:31:04","date_gmt":"2019-01-18T11:31:04","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1423"},"modified":"2021-06-04T14:07:49","modified_gmt":"2021-06-04T07:07:49","slug":"phnom-penh-condo-supply-rises-19-cbre","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/phnom-penh-condo-supply-rises-19-cbre\/","title":{"rendered":"Phnom Penh condo supply rises 19%: CBRE"},"content":{"rendered":"<p><strong>Fears of a glut persist though<\/strong><\/p>\n<figure id=\"attachment_1424\" aria-describedby=\"caption-attachment-1424\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1424\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Phnom-Penh-condo-supply-rises-19-CBRE.jpg\" alt=\"\" width=\"1000\" height=\"668\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Phnom-Penh-condo-supply-rises-19-CBRE.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Phnom-Penh-condo-supply-rises-19-CBRE-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Phnom-Penh-condo-supply-rises-19-CBRE-768x513.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1424\" class=\"wp-caption-text\">The growing skyline of Phnom Penh. Bou Kanika\/Shutterstock<\/figcaption><\/figure>\n<p>Condominium stock in Cambodia is\u00a0on the upswing, with potential to grow\u00a0this year, according to a new report by CBRE Cambodia via\u00a0<a href=\"https:\/\/www.khmertimeskh.com\/50569202\/condo-supply-up-19-percent-in-q4-2018-cbre\/\" target=\"_blank\" rel=\"noopener noreferrer\">Khmer Times<\/a>.<\/p>\n<p>A total of eight new condominium projects were completed in\u00a0the fourth quarter of last year, bringing 2,234 units to the residential sector and raising condo supply by 18.9 percent.<\/p>\n<p>The mid-range segment accounted for 40 percent or majority of all completed units in the quarter, although the largest completed project is categorised as affordable.<\/p>\n<p>Fears of a glut remain, however, as\u00a0this barrage of units\u00a0has not had noticeable effects on sales and rental rates within the sector to date, according to Ann Sothida, director of CBRE Cambodia.<\/p>\n<p>\u201cWhilst this inflow of condo supply is a sign of strong market growth, fears of over-saturation within the condo sector in the mid and high-end segments persist,\u201d Sothida said.<\/p>\n<p>This uptick in condo stock completion is expected continue in the first and second quarters of 2019, due to delayed constructions from the fourth quarter. Six new condo projects, , totalling around 2,000 units, were launched during the fourth quarter.<\/p>\n<p>The increase in condo stock\u00a0came amid a drop in the number of the approved construction projects, which sank\u00a0<a href=\"https:\/\/www.phnompenhpost.com\/post-property\/phnom-penh-office-space-grows-11\" target=\"_blank\" rel=\"noopener noreferrer\">19 percent in 2018<\/a>, according to the Ministry of Land Management, Urban Planning and Construction. Around 2,867 projects were approved, down from 3,052 projects in 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fears of a glut persist though<\/p>\n","protected":false},"author":2,"featured_media":19820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Phnom Penh condo supply rises 19%: CBRE | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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