{"id":16860,"date":"2016-06-17T18:20:49","date_gmt":"2016-06-17T11:20:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-cambodias-real-estate-sector-will-fare-in-the-aec-era\/"},"modified":"2016-06-17T18:29:19","modified_gmt":"2016-06-17T11:29:19","slug":"how-cambodias-real-estate-sector-will-fare-in-the-aec-era","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-cambodias-real-estate-sector-will-fare-in-the-aec-era\/","title":{"rendered":"How Cambodia\u2019s real estate sector will fare in the AEC era"},"content":{"rendered":"


\nBoom times ahead for the Kingdom, but is supply meeting demand?
\nPhnom Penh (Image credit: ASEAN Travel)
\nAt the tail end of 2015, Southeast Asian nations inaugurated the ASEAN Economic Community (AEC), a borderless market for commodities, services, capital, and labour between 10 of the world\u2019s fastest-growing economies. Long seen as a laggard behind more established neighbours Thailand and Vietnam, Cambodia has wasted no time proving its mettle within this union.
\n\u201cWith sustained gross domestic product growth, attractive returns and the widespread adoption of the US dollar, Cambodia is well-placed to attract continued real estate investment from the wider region over the course of 2016,\u201d CBRE Cambodia manager Chris Hobden told the Nikkei Asian Review.
\nIndeed, the World Bank noted that Cambodia\u2019s economy rose by 7.5 percent a year on average between 2005 and 2014. Next to Laos, Cambodia is the second-fastest urbanising nation in Southeast Asia.
\nAll this growth easily shows in the skyline of Phnom Penh, the capital. CBRE projects Phnom Penh\u2019s condo supply to rise by 794 percent or 19,018 units in 2018.
\nMore: 12 tips for investing in Cambodia property
\nAlready, the Cambodian government is due to make a statement in the Thai Boon Roong Twin Trade Center in Phnom Penh, poised to become Southeast Asia\u2019s tallest building by 2019.
\nNot everyone is impressed by this growth, however. Stephen Higgins, a principal at investment and corporate advisory firm Mekong Strategic Partners, expressed reservations about the realisation of the skyscraper, a symbol of the government\u2019s flair for \u201cvanity projects\u201d with no stringent market research.
\nAt the annual ASEAN Valuers Association Congress held in May in Phnom Penh, Cambodian Valuers and Estate Agents Association president Kim Heang urged property developers to build houses for lower-income people as there seems to be an oversupply of condos and villas for high-spending Cambodians.
\n\u201c70 percent of our people are under 35 years old, and there are only very few who have spending power,\u201d he said.
\n\u201cWho else is left to buy all the high-priced homes?\u201d he added.
\nMore: Could Cambodia\u2019s southern coast be Asia\u2019s next resort hot spot?
\nIf Cambodia has a strong suit, it appears to be the real sector. CBRE expects retail supply in Phnom Penh to significantly grow over the next two years, owing to \u201cnew international shopping complexes and significant retail components,\u201d per Nikkei.
\nAt least one ASEAN neighbour is already helping out in this area. Malaysia-based retail chain Parkson is currently developing two shopping malls for the capital city.
\nJapanese retail group Aeon has assimilated well, building Cambodia\u2019s largest mall in Phnom Penh in 2014.
\nHowever its prospects look now, Cambodia is apparently in good company. Home to over 600 million, ASEAN boasts a much larger market than the European Union: the seventh largest single economic market in the world.
\nNext: Watch the highlights from the first-ever Cambodia Property Awards
\n
\nSource : property-report.com
\nRead more…How Cambodia\u2019s real estate sector will fare in the AEC era<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Boom times ahead for the Kingdom, but is supply meeting demand? Phnom Penh (Image credit:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-16860","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4nW","jetpack-related-posts":[{"id":22518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/for-singaporean-investors-theres-no-place-like-cambodia\/","url_meta":{"origin":16860,"position":0},"title":"For Singaporean investors, there\u2019s no place like Cambodia","date":"August 10, 2016","format":false,"excerpt":"\r With a foreign investment regime more open than many ASEAN nations, Cambodia has become the place to be for Singaporean investors With its open, liberal FDI policies, Cambodia is luring Singaporean investors. Image credit: Dmitry A. Mottl (Wikimedia Commons) Cambodia has become the fulcrum of attention for Singaporeans in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-to-expect-in-real-estate-as-the-aec-era-begins\/","url_meta":{"origin":16860,"position":1},"title":"What to expect in real estate as the AEC era begins","date":"January 15, 2016","format":false,"excerpt":"\r A number of benefits and hurdles face the property sector as the ASEAN Economic Community commences There\u2019s no turning back now. On 31 December 2015, the ASEAN Economic Community (AEC) was formally established, which saw its 10-member countries form a single economic bloc. Electronic ads about the AEC can\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/ASEAN.png?fit=740%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":42625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cambodian-real-estate-agents-are-about-to-get-better\/","url_meta":{"origin":16860,"position":2},"title":"Cambodian real estate agents are about to get better","date":"February 2, 2017","format":false,"excerpt":"\r A university and real estate agency join forces to\u00a0set higher standards for\u00a0brokers Sisowath Quay in Phnom Penh, Cambodia. Lisa-Lisa\/Shutterstock The education sector has taken the lead in raising the profile of Cambodia\u2019s property sector, by way of programs that will inculcate professional qualities in the kingdom\u2019s real estate agents.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9960,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-asean-integration-be-a-game-changer-for-the-regions-property-markets\/","url_meta":{"origin":16860,"position":3},"title":"Will ASEAN integration be a game-changer for the region\u2019s property markets?","date":"April 5, 2016","format":false,"excerpt":"\r There\u2019s strength in union ASEAN single market is finally a reality After years of anticipation and delay when it seemed it might never happen, the seventh largest single economic market in the world was inaugurated as 2015 drew its last breath. Since it was first rubber-stamped the ASEAN Economic\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5860,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-to-expect-at-the-inaugural-cambodia-property-awards\/","url_meta":{"origin":16860,"position":4},"title":"What to expect at the inaugural Cambodia Property Awards","date":"February 25, 2016","format":false,"excerpt":"\r Tune in to CTN\u2019s Cambodia News Channel at 9:00pm for the exclusive live broadcast The ballroom of the Sofitel Phnom Penh Phokeethra is being readied for the Cambodia Property Awards 2016 Cambodia\u2019s biggest real estate event of the year is starting in a few hours. Nominees and guests are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-property-developers-should-keep-a-beady-eye-on-cambodias-southern-coast\/","url_meta":{"origin":16860,"position":5},"title":"Why property developers should keep a beady eye on Cambodia\u2019s southern coast","date":"July 6, 2016","format":false,"excerpt":"\r Cambodia\u2019s southern coast is finally getting some overdue attention Sihanoukville\u2019s beaches have long been a draw for tourists. Image credit: Damian @ Flickr Long overlooked for the historical beauty of Siem Reap and the bustle of Phnom Penh, the province of Sihanoukville has been earmarked for more foreign investments.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/16860"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=16860"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/16860\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=16860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=16860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=16860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}