{"id":26168,"date":"2021-12-07T06:10:10","date_gmt":"2021-12-06T23:10:10","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=26168"},"modified":"2021-12-05T20:50:39","modified_gmt":"2021-12-05T13:50:39","slug":"cambodia-house-prices-expect-to-increase-more-than-7","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/cambodia-house-prices-expect-to-increase-more-than-7\/","title":{"rendered":"Cambodia house prices expect to increase more than 7%"},"content":{"rendered":"

Developers are looking at price hikes to alleviate the pressure they experienced over the past two years<\/span>\u00a0<\/span><\/p>\n

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Over the past two years, developers had to become agile and adapt their sales and marketing strategies to meet local preferences. EliteStudio\/Shutterstock<\/figcaption><\/figure>\n

Following Cambodia\u2019s economic reopening and recent easing of measures in October, it is said that property developers are looking to slowly increase prices\u00a0in 2022, reported\u00a0<\/span>Khmer Times<\/span><\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

Property developers were asked about Cambodia\u2019s reopening and potential price hikes over the next 12 months.<\/span>\u00a0<\/span><\/p>\n

\u201cI think that most developers will raise the price when the restriction is\u00a0eased,\u201d said\u00a0a property developer.\u00a0\u201cSeveral developers have already made plans and carefully discussed when they should raise the price.\u201d\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cThe price increase is expected,\u201d said Ethan Liu, deputy director of marketing for Vue Aston, winner of the Best Condo Development\u00a0(Phnom Penh) at the\u00a0PropertyGuru\u00a0Cambodia Property Awards 2021. \u201cPhnom Penh is a fast-developing area attractive for foreign investors. The larger market is already rising, and some developers will adjust the falling prices back to pre-pandemic values.\u201d<\/span>\u00a0<\/span><\/p>\n

\u201cWe are confident that the average increase will be more than seven percent. It will even be much easier for projects who have adapted to local needs to attract foreign investors,\u201d said Liu.<\/span>\u00a0<\/span><\/p>\n

Over the past two years, developers had to become agile and adapt their sales and marketing strategies to meet local preferences.\u00a0This was particularly challenging to those who had foreign\u00a0buyers\u00a0in mind when they entered the market.\u00a0<\/span>\u00a0<\/span><\/p>\n

Besides the decrease in international customers that caused price drops,\u00a0another reason is the\u00a0intense\u00a0competition to attract local investors\u00a0via generous discounts and other tactics.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Options for foreigners interested in purchasing property in Cambodia<\/strong><\/a><\/p>\n

Riya Kim, planning assistant for La Vista One, the Best Condo Development (Greater Phnom Penh) winner at the\u00a0PropertyGuru\u00a0Cambodia Property Awards 2020, said, \u201cHousing prices saw a downward trend because most of the local market also had financial and income problems during the pandemic. Most consumers did not want to spend outside of basic necessities.\u201d<\/span>\u00a0<\/span><\/p>\n

While property developers may be looking to increase prices, they are looking to do so gradually as the market gets back on its feet under Cambodia\u2019s new quarantine regime.<\/span>\u00a0<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Developers are looking at price hikes to alleviate the pressure they experienced over the past two years\u00a0<\/p>\n","protected":false},"author":12,"featured_media":26169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[177,1301,2522,512],"class_list":["post-26168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-cambodia","tag-price-hike","tag-property-revival","tag-residential","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"\nCambodia house prices expect to increase more than 7% | 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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