The Online Revolution Reaches Cambodia
Updated on: June 7, 2022, 3:13 a.m.
Published on: June 23, 2016, 12:22 p.m.
Realestate News

The Online Revolution Reaches Cambodia

onlinemarketing2 We live in a fast-paced world where everything is instant and all transactions can be done with just a simple click or swipe. With credit cards, social media and delivery applications on the rise in Cambodia, it’s easy to forget that it wasn’t always this way. In Cambodia, online internet users have skyrocketing to over 6.7 million people. Meanwhile there are over 20.8 million mobile phones currently in use across the Kingdom, according to statistics provided by the Telecommunications Regulator of Cambodia. Just ten years ago, few even knew what these things were, let alone used one... And while traditional media certainly still has an influence in Cambodian daily life, more and more businesses are moving into the digital realm to expand their reach to the new generation of investors, innovators and daily consumers. The information aggregation and communication that online growth is facilitating is also allowing macro-analysis of social and economic trends. In Cambodia, the online revolution is influencing everything - even politics. For instance, the government is now utilizing online platforms to shape policies, address ongoing public issues and to anticipate future problems: According to VOA News, Prime Minister Hun Sen has taken note of this radical change in online media platforms and has even ordered his team to utilize online platforms to provide “fast, responsive, accountable service” to his electorates - a key example being his personal Facebook page.   One of the industries that will benefit most from this online revolution shift in Cambodia is the real estate and property investment industry. Having hundreds of thousands of properties available in the market right now and millions of international investors considering placing their money into properties inside Cambodia, real estate agents, landlords and property developers have to maximize their network of potential clients online, meanwhile minimizing marketing costs and and maximising profit. At the same time, buyers and those looking to rent in the Kingdom of Cambodia need online resources and opportunities to consider, without having to spend weeks travelling different cities just to look at what is available for them. It’s both inefficient and impractical. This is something that’s already been recognized in other progressive countries such as the USA, where 91 percent of realtors in the US are now utilizing social media and online classifieds to increase sales. Meanwhile, 86 percent of potential real estate buyers and renters in Australia go online first when they begin their property search. Another reason why people are flocking to real estate portals is the amount of information that is readily available to provide insights into the industry; such as news, developer information and loan terms. These tools allow buyers and sellers to assess future trends and grow their understanding of property investment. It also allows for easier communication between the buyer and seller, meaning anyone can quickly and efficiently find the correct information about certain properties, developments or real estate policy. Searching on a real estate portal beats having to spend the whole day looking for a paragraph of information on the entire web, which literally has billions of web pages. Online real estate platforms are fueling growth in the Cambodian real estate industry, and are a game changer for the future of property investment and real estate transactions in the coming years.