Property Market Q3 2024 Insights - CBRE Cambodia

Описание: Quarterly Review delivered by CBRE Cambodia (Q3 2024)
It discusses the current trends in Cambodia's real estate market.

Major poitns:

Macroeconomic Overview
Cambodia’s GDP Growth:
The forecasted GDP growth rate for Cambodia is 5.8% in 2024, with expectations for it to increase to 6% in the following year.
Tourism:
Cambodia welcomed 4.3 million international tourists in the first eight months of 2024, reflecting recovery from previous years, though still lagging behind pre-pandemic levels (2019).
Investment:
There was $2.2 billion in approved investments in construction during the first eight months of 2024, although this shows a slight drop from 2023 levels.
Growth is seen in other sectors outside of real estate and construction, which will be further discussed.
The transcript is still developing the overview of Cambodia’s economy and the real estate market. I’ll proceed with more detailed sections from the transcript. ​​

Commercial and Residential Real Estate Overview
Commercial Property:
The office sector shows a slight increase in occupancy rates, signaling positive momentum in the market.
Retail spaces, on the other hand, continue to experience challenges, with lower occupancy rates.
Prime rents for office spaces and shopping malls in central locations have remained stable compared to the previous quarter.
Residential Property:
In the condominium market, approximately 970 new units were launched within the past three months of 2024.
High-end condo prices have experienced a slight decline.
Landed property (such as villas) has seen 250 new launches, though this is a significant slowdown compared to previous years.
The average sale price for single villas is approximately $1,177 per square meter, marking a slight increase from the previous quarter.
Global and Local Economic Insights
The session highlights major economic policies and trends that impact both Cambodia and the global market.
Particular attention is given to stimulus policies in major economies like the U.S., which are relevant to Cambodia’s market outlook.

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