All sectors of the property market, namely residential, retail and offices, are expected to see an increase in supply in 2019, particularly in the first half of the year as a result of a spillover of uncompleted projects from the end of 2018.
This is especially true of condominium developments, with the upward trend of mid- to high-end projects being completed in Phnom Penh to continue. According to James Hodge, associate director at Cambodian property services company CBRE, there will be a 120% increase in condominium supply this year, but it should be met by sufficient demand.
“We expect some moderation in rental rates because of the supply coming into the condominium sector, but demand for serviced apartments still looks to be good and occupancy rate in that sector still looks quite strong,” he says.
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