Future condo supply to impact the serviced apartment market
In the first half of 2015, the supply of serviced apartments saw an increase of 14 per cent when compared to the same period last year while rental prices remained stable. According to a recent report from CBRE Cambodia, a total of additional 349 serviced apartment units will serve the market by the middle of 2016, with 5797 units present and 11 condo projects underway. The occupancy rate of serviced apartments declined from 90 per cent to 70 per cent at the end of 2014. However, in the second quarter of this year, it grew 80 per cent with the rising per cent of serviced apartment supply. …
Siv Meng and Rebecca Heliot
http://www.phnompenhpost.com/real-estate/future-condo-supply-impact-serviced-apartment-market
