CBRE's latest Condo Report sees 435% increase

Feb. 16, 2017, 12:07 p.m.

CBRE’s third quarter 2015 Condominium Report, currently unreleased, details eight new projects that have been officially launched in Q3 2015, compared to four in Q2, according to recent reports from the Post Property.  Ultimately, this equals an additional supply of 10,000 condo units, which demonstrates a 435 per cent increase since the preceding quarter. condodecastle0002 The report states that "as of 2018, the number of condominium units in Phnom Penh would increase to almost 20,000 units, an increase of 915 per cent compared to the number in 2015." The report follows on to say that 1/3 of these units would reflect high-end properties, and approximately 1/2 are mid-range quality.  The report states that average condo prices per square meter for mass-market are $1,500psm, mid-range sits at $2,250psm; and high-end units are average $2,900psm. Learn more about the strata title process for condo purchase here. The report also says that “roughly 40 per cent of condominium owners are Cambodian”. Yet the report suggests that the vast majority of Cambodian buyers hope to “speculate or rent out”, rather than to live in the finished condo units. Learn more about Cambodian land titles, strata title transfers and foreign ownership regulation on Realestate.com.kh today!  footerPPP