Flood crisis another setback for real estate sector
While the political crisis in the country is still ongoing, Cambodia is now suffering another crisis due to flooding, which has had a big impact on the country’s real estate business.
Kim Heang, the President of Khmer Real Estate, said the buying and selling of real estate has slowed because some areas have been so flooded they have become lakes. …
He added that the flooding has had a lot of impact on the real estate market, even causing traffic jams and making it difficult to travel around. Residents living along Preah Monivong Boulevard have also starting complaining about traffic jams and flooded roads. …
Po Eav Kong, the Managing Director of Asia real Estate Cambodia Co, Ltd, said there are two major crises in Cambodia at present, and politics is the most serious one.
He said some land buyers and sellers were waiting for the floodwaters to recede and his customers who intended to buy land along National Road 6 have also put things on hold until the situation improves. …
Siv Meng
http://www.phnompenhpost.com/real-estate/flood-crisis-another-setback-real-estate-sector
