{"id":25275,"date":"2021-09-21T09:43:53","date_gmt":"2021-09-21T02:43:53","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25275"},"modified":"2021-09-23T11:17:39","modified_gmt":"2021-09-23T04:17:39","slug":"preah-sihanouks-real-estate-shows-positivity-as-locals-buy-and-rent-properties","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/preah-sihanouks-real-estate-shows-positivity-as-locals-buy-and-rent-properties\/","title":{"rendered":"Preah Sihanouk real estate recovers as local transactions rise"},"content":{"rendered":"

Multiple\u00a0factors\u00a0have\u00a0contributed to this improvement\u00a0including an increase in tourists and COVID-19 prevention<\/span>\u00a0<\/span><\/p>\n

\"\"
The province\u2019s tourism industry and key seaport present an abundance of avenues open for investments. CamNet\/Shutterstock<\/figcaption><\/figure>\n

The real estate market of Preah Sihanouk province is finally presenting positive signs after a slowdown due to the pandemic and\u00a0withdrawal of Chinese nationals,\u00a0reported\u00a0Phnom Penh Post<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

The government issued a sub-decree establishing an inter-ministerial technical committee to develop the province into a \u201cmulti-purpose\u00a0model\u00a0special\u00a0economic zone\u201d.\u00a0<\/span>\u00a0<\/span><\/p>\n

Moreover, the National Assembly (NA) approved\u00a0a draft Law on Investment, which would help further\u00a0encourage\u00a0foreign investment.\u00a0<\/span>\u00a0<\/span><\/p>\n

Im\u00a0Seng Hour, branch manager of Century 21\u00a0Zillion\u00a0Holding in provincial capital Sihanoukville, said that the real estate market is gradually moving towards recovery, with local investors starting to buy and rent properties to do business.<\/span>\u00a0<\/span><\/p>\n

He attributed the revival to factors such as an uptick in tourists, the effectiveness of COVID prevention and management, progress in coronavirus vaccination drives, and development in road infrastructure and the\u00a0airport.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThe real estate market in Sihanoukville has revived, especially the rental market [for both land and buildings], and prices have changed a little bit compared to the beginning of the year,\u201d he said.<\/span>\u00a0<\/span><\/p>\n

Additionally, the province\u2019s tourism industry and key seaport present an abundance of avenues open for investments.\u00a0The Ministry of Tourism announced that Cambodia plans to host the ASEAN Tourism Forum 2022 in Preah Sihanouk to outline a map for tourism recovery, regional reopening, and rebuilding a more resilient, sustainable, and responsible future.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Cambodian property experts speculate 10% rise in prices along National Road 5<\/strong><\/a><\/p>\n

Sam\u00a0Soknoeun, president at Global Real Estate Association,\u00a0speculated\u00a0that\u00a0real estate transactions in Preah Sihanouk will be in higher growth mode for\u00a0the foreseeable future, noting that prices now are relatively high.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThe market is starting to resume again and it will be more vibrant when COVID-19 is under control. The government\u2019s measures and efforts to develop and amend investment laws will boost Cambodia\u2019s economy in all areas,\u201d he said.\u00a0<\/span>\u00a0<\/span><\/p>\n

\n
\n
\n

The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i>propertyreport@propertyguru.com<\/span><\/i><\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Multiple\u00a0factors\u00a0have\u00a0contributed to this improvement\u00a0including an increase in tourists and COVID-19 prevention\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[932,177,668,2345],"class_list":["post-25275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-cambc","tag-cambodia","tag-investment","tag-preah-sihanouk","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"\nPreah Sihanouk real estate recovers as local transactions rise | 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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