Apartment demand falters in Q3
The apartment rental market was flat in the third quarter after strong growth earlier in the year, with oversupply and political tensions among the causes blamed by realty experts.
Chrek Soknim, deputy director of VTrust Property Co, Ltd, said that growth has stagnated after the January-March period saw a quarterly rise of up to 15 per cent. …
Soknim added that a Class-A apartment in Phnom Penh with one room currently has an average monthly rental price of between $1,500 and $1,700, with two rooms costing $1,500-$2,000 and three rooms $2,000-US$5,000. A Class-B apartment with one room is priced at $500-US$1,300 per month, with two rooms $650-$1,500 and three rooms $700-$2,500. A Class-C apartment with one room costs less than $500 per month while with two rooms is $400-$700. …
However, Po Eavkong, managing director of Asia Real Estate Cambodia Co, Ltd, rejected Soknim’s appraisal of the situation. The political crisis did not significantly affect the apartment rental market because a stream of foreign investors all requiring living quarters continued to enter the country, Eavkong said. …
Siv Meng
http://www.phnompenhpost.com/real-estate/apartment-demand-falters-q3
