Investors drawn by Cambodia property
With more than 2,000 new private residential units to go on sale in 2013 at reasonable prices, Cambodia is increasingly being watched by foreign investors on the lookout for attractive returns.
The price per square meter for prime property in Phnom Penh now stands at between $1,500 and $2,000, compared to $3,000+ in Bangkok, $3,500 to $5,000 in Kuala Lumpur and $2,000+ in Manila.
Since 2009, when the Cambodian government came up with the law to let foreigners own the condominiums, it made the demand increase and investors especially from China, South Korea and Malaysia flock in. A good sign is also that more Singapore buyers have entered the market, investors who are known as being savvy and risk-conscious.
Rental yields in Phnom Penh and Siam Reap are currently in the range of 5 to 6 per cent, according to local property brokers, but they should reach 8 per cent in 2013.
On the back of the property market, the construction business is booming. The construction sector in Cambodia attracted investments of about $2.1 billion in 2012, a 72 per cent rise compared to 2011, according to the Ministry of Land Management, Urban Planning and Construction, see our earlier story.
[caption id="attachment_7032" align="alignleft" width="164"] Newly built condominium tower in Phnom Penh[/caption] With more than 2,000 new private residential units to go on sale in 2013 at reasonable prices, Cambodia is increasingly being watched by foreign investors on the lookout for attractive returns. The price per square meter for prime property in Phnom Penh now stands at between $1,500 and $2,000, compared to $3,000+ in Bangkok, $3,500 to $5,000 in Kuala Lumpur and $2,000+ in Manila. Since 2009, when the Cambodian government came up with the law to let foreigners own the condominiums, it made the demand increase and investors especially...
With more than 2,000 new private residential units to go on sale in 2013 at reasonable prices, Cambodia is increasingly being watched by foreign investors on the lookout for attractive returns.
The price per square meter for prime property in Phnom Penh now stands at between $1,500 and $2,000, compared to $3,000+ in Bangkok, $3,500 to $5,000 in Kuala Lumpur and $2,000+ in Manila.
Since 2009, when the Cambodian government came up with the law to let foreigners own the condominiums, it made the demand increase and investors especially from China, South Korea and Malaysia flock in. A good sign is also that more Singapore buyers have entered the market, investors who are known as being savvy and risk-conscious.
Rental yields in Phnom Penh and Siam Reap are currently in the range of 5 to 6 per cent, according to local property brokers, but they should reach 8 per cent in 2013.
On the back of the property market, the construction business is booming. The construction sector in Cambodia attracted investments of about $2.1 billion in 2012, a 72 per cent rise compared to 2011, according to the Ministry of Land Management, Urban Planning and Construction, see our earlier story.
