Real Estate in Cambodia
Cambodia real estate was not able to escape the global crisis in the late 2000s, and land prices plummeted, affected by the decrease in demand by buyers and tenants alike. Restrictions on bank loans and limits contributed to the drop in prices as well. Residential properties dropped more than commercial properties.
Improved GDP, low inflation, expanding tourism, growing oil, gas and mineral supplies, and booming garment manufacturing appear to provide a boost to the country's economy. Construction of properties of both local and international standards can be widely seen in the capital, Phnom Penh. A number of malls, condominiums, and financial buildings are starting to rise again. Land prices doubled in the last year. Although investment properties are most widely bought in Phnom Penh, which is at the heart of the country, developments are also starting outside of the capital.
Changes in current laws, which address foreign co-ownership of properties in Cambodia, are already beginning to boost sales and property prices as observed by investment experts. With the new law, up to 70% may be owned by foreigners. It has been linked to the increase in foreign direct investments, imports, exports, and tourism in Cambodia. With this strong growth in the economy, the property market may be well on its way to recovery along with the increased confidence in the financial markets globally.
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