Earlier this year I was lucky enough to spend time in Cambodia and inevitably couldn’t resist taking a look at the real estate market there.
Cambodia’s economy is still recovering from the aftermath of the Khmer Rouge conflict, but it is recovering rapidly and my opinion is that the place will look completely different in a few years. Many of Cambodia’s roads are dirt roads that turn to mud in the rainy season, even between major cities. However, this is now changing and roads are being built apace.
Since I have been in Cambodia, I have noticed that the Cambodian government is taking steps to make it easier and safer for foreigners and foreign entities to invest in the country with the aim of attracting considerable foreign investment, and not just in real estate .
The Cambodian government is also expected to soon make it possible for foreigners to buy real estate in its name without the need to set up a business as it currently stands.
Without going into the economic details in this blog, we believe that all signs point to a period of unfailing growth in the Cambodian property market. Many international property developers have already appeared on the scene recently in light of changes in regulations.
Particularly recently, I have started to see real estate developments promoted not only in the capital, Phenom Pehn, but also on the coast, in places like Kep. I think there is certainly a lot of potential, but investors should be aware that the market is still very new and immature and will change a lot in the coming years, so it is not without risk.
Given that property price growth in many of the Southeast Asian real estate markets has slowed considerably or is in reverse, Cambodia can be a place to look for those interested in investing in the region and can handle a bit more risk and uncertainty.
Cambodia’s real estate market is certainly a market to watch out for.
