Oversupply and a lack of foreign buyers are pushing down condominium prices across the range from high-end to affordable in Phnom Penh, capital of Cambodia, local media reported Wednesday (Oct 13).
Data released by real estate company CBRE-Cambodia showed that sales prices had fallen by between 1.8 per cent and 3 per cent across all grades in the third quarter of the year, compared with the previous quarter, the Khmer Times reported.
“High end condominium prices right now are looking at around US$2,700 per square meter,” the newspaper quoted Kinkesa Kim, senior manager of the firm’s research and consulting services, as saying.
