The 6th Realestate.com.kh Cambodia Real Estate Survey, carried out earlier this year, provides valuable insights into the Cambodian real estate market and what buyers are currently seeking when purchasing property.
This article will take a deep dive into some of the most crucial findings from the survey, and discern what they could mean for the future of Cambodia’s real estate industry in 2023 and beyond.
Investor Intentions: Second Homes and Investment Properties
One of the most significant findings of the survey is how positive investor sentiment is. A whopping 65% of buyers are on the hunt for a second home or investment property in Cambodia.
It seems that shrewd investors recognize the country’s real estate market as a goldmine of potential profits, and who can blame them? With Cambodia’s robust economy and surge in tourism, there’s no doubt that this is a market offering fantastic potential for both immediate rental income and future capital growth.
Additionally, the survey showed that, when it comes to choosing a rental property, 51.5% of respondents favoured apartment living over other property types, such as shophouses (21.5%) and villas (8.5%). This was the largest proportion of renters favouring apartments since the survey first began. From this, we can infer that there is a growing demand for rental apartments in Cambodia, opening up opportunities for buy-to-let investors.
Phnom Penh was the most popular location amongst tenants, with 70% of all respondents listing the capital as their preferred location. Siem Reap came next, followed by Kampot and Sihanoukville.
Property Preferences: Condos and Apartments
The survey has revealed that condos and apartments are also the most popular property types amongst all buyers in Cambodia. It seems that the allure of modern conveniences, top-notch amenities, and budget-friendliness has captured the hearts of property hunters.
And it’s not just local buyers. Overseas investors have started to take an interest in these property types, keen on acquiring apartments in Cambodia. With a growing demand for rental accommodation of this type, this seems like a very wise venture.
Ideal Property Price Range
The survey results showed that when it comes to property prices in Cambodia, there is a sweet spot between USD $50,001 to $75,000 which works for locals.
However, foreign buyers seem to have deeper pockets, preferring a range between USD $100,001 to $200,000 to purchase property in the country. Despite this divide in budget, over 25% of buyers still have their sights set on high-end properties above $200,000. It’s clear that there is still an appetite for luxurious real estate in Cambodia.
Affordable Property Prices with Potential for Growth
Positive sentiment abounds and investors are feeling optimistic about the future of Cambodia’s real estate market. Over 60% of participants believe that property prices are set to rise in the next year. The survey also found that buyers as well as investors are pleased by the affordability of the Cambodian property market. These findings paint a promising picture for those who have added Cambodian property to their investment portfolio.
With such positive investor sentiment, Cambodia’s real estate market has tremendous potential for growth in the years ahead.
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