{"id":29941,"date":"2016-10-14T14:34:19","date_gmt":"2016-10-14T07:34:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-optimism-urged-on-cambodias-property-market\/"},"modified":"2016-10-14T14:43:26","modified_gmt":"2016-10-14T07:43:26","slug":"more-optimism-urged-on-cambodias-property-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-optimism-urged-on-cambodias-property-market\/","title":{"rendered":"More optimism urged on Cambodia\u2019s property market"},"content":{"rendered":"


\nMake room for growth
\nPhnom Penh at night. khlungcenter\/Shutterstock
\nA seeming glut of condominiums on the\u00a0Phnom Penh residential market\u00a0should not be cause for much naysaying, and grim prospects on the Cambodian property sector are overstated, a leading property analyst in the country said.
\nIn an interview with The Phnom Penh Post, Simon Griffiths, senior associate director at CBRE Cambodia, said that the number\u00a0of condominiums in Phnom Penh\u2019s residential supply is \u201cnot reflective of the entire situation.\u201d Real estate commentators should take a more rounded approach to the market, taking into account the gains in the sectors of retail, office space, industrial space, and tourism, among others.
\n\u201cWhat has changed from five years ago, when demand outstripped supply in almost all sectors, is that there is more built environment now. Griffiths told the Post. \u201cYou cannot just launch a condo and expect to succeed, it is a more competitive market place and that is good for consumers.
\n\u201cThere is still room for growth. It\u2019s still on an upward trajectory but at a slower pace than that experienced over the last three years,\u201d he added.
\nMore: Why Phnom Penh\u2019s airport district is suddenly taking off
\nEarlier this year, Knight Frank had predicted\u00a0a 723.5 percent increase in Phnom Penh\u2019s condo supply pipeline by 2020, stoking fears of a bubble implosion. Prices in the Cambodian capital slipped from USD2,843 in the first quarter of 2016\u00a0to USD1,823 per square metre in the second quarter, a 35.8 percent drop.
\nThe situation in the Khmer kingdom is no longer a case\u00a0of \u201cbuild it and they will come,\u201d Griffiths said. \u201cDevelopers who are going forward need to be ahead of the curve and produce developments that fill the gaps in the market, rather than reproduce what is already there.\u201d
\nHome buyers may yet see competitive price points by the second quarter of 2018, as developers mull \u201centicing deals\u201d in the run-up to the general election that year.
\nRead next: Is Phnom Penh at risk of growing too fast?
\n
\nSource : property-report.com
\nRead more…More optimism urged on Cambodia\u2019s property market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Make room for growth Phnom Penh at night. khlungcenter\/Shutterstock A seeming glut of condominiums on...<\/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-29941","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\/p75ss1-7MV","jetpack-related-posts":[{"id":23829,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-phnom-penh-at-risk-of-growing-too-fast\/","url_meta":{"origin":29941,"position":0},"title":"Is Phnom Penh at risk of growing too fast?","date":"August 24, 2016","format":false,"excerpt":"\r With developers eager for a slice of Phnom Penh pie, is the city\u2019s growth spurt too quick? Independence monument in Phnom Penh. Image credit: khlungcenter \/ Shutterstock.com A surfeit in condominium supply continues to raise suspicions of a bubble encapsulating Phnom Penh\u2019s luxury residential property market, according to CityLab.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10114,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-phnom-penh-is-asias-next-top-city-for-real-estate\/","url_meta":{"origin":29941,"position":1},"title":"Why Phnom Penh is Asia\u2019s next top city for real estate","date":"April 7, 2016","format":false,"excerpt":"\r Solid economic growth and strong foreign investor demand are helping to drive Cambodia\u2019s condo boom, but some worry it could lead to a glut Cambodia\u2019s real estate market is heating up, especially in its capital Phnom Penh, with foreign developers from China, Singapore, Taiwan and Korea looking to expand\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27277,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/phnom-penh-properties-are-getting-smarter\/","url_meta":{"origin":29941,"position":2},"title":"Phnom Penh properties are getting smarter","date":"September 26, 2016","format":false,"excerpt":"\r This project is set to be as technologically enhanced as it is green Sangkat Chaktomuk square and Naga World Complex in Phnom Penh, Cambodia. Aleksandar Todorovic\/Shutterstock A gated community of \u201chotel-style\u201d villas in Phnom Penh\u2019s Meanchey district will come equipped with several smart home technologies of the moment. Borey\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/next-tallest-building-in-asean-could-soon-rise-in-phnom-penh\/","url_meta":{"origin":29941,"position":3},"title":"Next tallest building in ASEAN could soon rise in Phnom Penh","date":"March 21, 2016","format":false,"excerpt":"\r Cambodia\u2019s construction sector is reaching for the sky Image credit: Realestate.com.kh There\u2019s a new candidate for the next tallest building in the region, to be located on a multimillion riverside development in Phnom Penh, Realestate.com.kh reported. 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The districts of Por Senchey, Sen Sok and Dangkao in Phnom Penh comprised more than\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-new-mixed-use-development-in-phnom-penh-aims-to-build-communities-in-the-sky\/","url_meta":{"origin":29941,"position":5},"title":"A new mixed-use development in Phnom Penh aims to build communities in the sky","date":"June 12, 2023","format":false,"excerpt":"\r Odom offers grade A offices, residences and retail space in one vertical community, and combines smart design and environmentally friendly features with traditional elements of Khmer culture.\r \r Source : South China Morning Post\r Read more...A new mixed-use development in Phnom Penh aims to build communities in the sky","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\/29941"}],"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=29941"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/29941\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=29941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=29941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=29941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}