{"id":41700,"date":"2017-01-24T17:37:02","date_gmt":"2017-01-24T10:37:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-slow-can-cambodian-real-estate-growth-get-this-year\/"},"modified":"2017-01-24T17:51:30","modified_gmt":"2017-01-24T10:51:30","slug":"how-slow-can-cambodian-real-estate-growth-get-this-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-slow-can-cambodian-real-estate-growth-get-this-year\/","title":{"rendered":"How slow can Cambodian real estate growth get this year?"},"content":{"rendered":"


\nGovernment in contemplative mood as GDP projections for the kingdom adjust
\nBalloon vendor near Royal Palace in Phnom Penh, Cambodia. Perfect Lazybones\/Shutterstock
\nCambodian economic officials have made a more conservative forecast of the kingdom\u2019s real estate prospects this year.
\nCambodia\u2019s real estate sector\u00a0is projected to experience decelerating growth this year, at 8.2 percent compared with 9.5 percent last year, according to a report released this week by the country\u2019s Ministry of Economy and Finance (MEF).
\nThis is the biggest fall recorded among sectors in the country\u2019s services industry, which also covers tourism as well as transportation and logistics. The services sector could end up growing by 6.29 percent this year, compared with a projected growth of 10.7 percent for the industrial sector, the MEF predicted.
\n\u201cRelevant stakeholders have to work together to tackle it,\u201d MEF secretary of state Vongsey Vissoth said at a government hearing yesterday in Phnom Penh.
\nChheang Vanarith, director of MEF\u2019s macroeconomic and fiscal policy department, chalked up the modest growth forecasts for\u00a0real estate and construction this year to slowing demand and global economic uncertainties.
\nMore: Southeast Asia\u2019s tallest building announces new contractor
\nThe World Bank estimated the country\u2019s gross domestic product (GDP) growth at 7 percent last year, surpassing a\u00a0June 2016 forecast by 0.1 percentage point. The institution currently projects a 6.9 percent growth for the kingdom this year.
\nVissoth told forum participants that the Khmer government hopes to maintain a 7 percent GDP growth \u201cas long as possible.\u201d The MEP report expects total GDP in the kingdom to top USD22.3 billion this year.
\n\u201cMore needs to be done to promote foreign direct investment and local investment in the country\u2019s crucial sectors so that GDP growth can be maintained at 7 percent,\u201d said Vanarith.
\nRead next: Where does your country stand in a Trump presidency?
\n
\nSource : property-report.com
\nRead more…How slow can Cambodian real estate growth get this year?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Government in contemplative mood as GDP projections for the kingdom adjust Balloon vendor near Royal...<\/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-41700","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-aQA","jetpack-related-posts":[{"id":42625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cambodian-real-estate-agents-are-about-to-get-better\/","url_meta":{"origin":41700,"position":0},"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":107800,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cambodian-property-proves-popular-with-chinese-buyers-as-mainland-investment-drives-economic-growth\/","url_meta":{"origin":41700,"position":1},"title":"Cambodian property proves popular with Chinese buyers as mainland investment drives economic growth","date":"June 5, 2019","format":false,"excerpt":"\r Cambodia\u2019s housing market is on a roll.A thriving job market as a result of the booming economy has boosted demand for housing. This has pushed rental yields to 8 to 10 per cent, and asset appreciation to 15 per cent per year, making the Southeast Asian nation\u2019s property sector\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16860,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-cambodias-real-estate-sector-will-fare-in-the-aec-era\/","url_meta":{"origin":41700,"position":2},"title":"How Cambodia\u2019s real estate sector will fare in the AEC era","date":"June 17, 2016","format":false,"excerpt":"\r Boom times ahead for the Kingdom, but is supply meeting demand? Phnom Penh (Image credit: ASEAN Travel) At 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132588,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-questions-with-leading-cambodian-property-expert-sorn-seap\/","url_meta":{"origin":41700,"position":3},"title":"7 questions with leading Cambodian property expert Sorn Seap","date":"March 22, 2019","format":false,"excerpt":"\r Cambodia\u2019s property market has borne witness to frenetic changes in the last three years.\u00a0From the increasingly luxurious condo market of Phnom Penh, the capital, and the hospitality offerings of Siem Reap, its spiritual capital, to the casinos of Sihanoukville and the economic zones in Poipet and Bavet, the kingdom\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23829,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-phnom-penh-at-risk-of-growing-too-fast\/","url_meta":{"origin":41700,"position":4},"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? 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