Housing loans up in 2013, growth expected to continue in ’14

Last year across Cambodia’s cities, more and more people decided to take the plunge and invest in housing.

This should be obvious to anyone who lived in Cambodia last year. The sounds of construction or renovation were more noticeable than before in cities across the Kingdom.

Data from Cambodia’s largest commercial bank backs up this anecdotal evidence. The total amount of loans provided by ACLEDA Bank for housing purchases in 2013 was up nearly 15 per cent year-on-year, breaking the $100 million mark for the first time.

ACLEDA Bank senior vice-president and credit division director Inn Siphann told the Post that housing loans in 2013 totaled $107.3 million, up 14.6 per cent over 2012’s $93 million.

There was also a considerable increase in lending by ACLEDA for home improvements, Siphann said. In 2013 the lender provided $57.7 million in home improvement loans, compared with $45 million the previous year, translating into an increase of 28.2 per cent, he added. …

 Sum Manet
http://www.phnompenhpost.com/real-estate/housing-loans-2013-growth-expected-continue-%E2%80%9914