The city’s property supply has now shifted to mid-tier properties in the most popular residential areas. Supplied.
Phnom Penh’s property market attracted much attention over the last decade due to its fast-paced growth and high-end properties that appealed to many foreign investors. The impact of COVID-19 shifted the market’s focus away from foreign investors and diverted to the demands local market. This resulted in the already-growing popularity of mid-tier projects in both condominiums and boreys to see increased attention from developers.
According to Knight Frank’s recently released Cambodia Real Estate Highlights H2 2020 report, mid-tier developments (priced between $1,000 to $2,500 per sqm) in condominiums and boreys account for more than half of the current market and will continue to make up most of the supply until 2023.