Cambodia’s housing market is oversupplied

Cambodia’s housing market is oversupplied

Cambodia, Phnom Penh
Trend: Nominal house prices fell by 2.7% y-o-y in Q1 2017 The average price of high-end condominium units in Cambodia dropped 2.7% y-o-y in Q1 2017. In a quarterly basis, high-end condo prices fell slightly by 0.7% in Q1 2017 from the previous quarter. Analysis: House prices to fall by half this year, amidst oversupply Phnom Penh’s apartment prices are expected to plunge by double-digit figures this year, mainly due to the oversupply of apartments in the city, according to local real estate experts. There were 9,298 condominium units launched in 2015 and 8,236 units in 2016. Overall, there were about 2,636 construction projects ($8.5 billion) in 2016, up from 2,305 projects ($3.5 billion) in 2015, according to CBRE Cambodia. Cambodia’s economy is expected to grow by 6.9% this year…
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