The Chinese apartments: the market is saturated22-09-2008
By Ky Soklim
Cambodge Soir Hebdo in English
Click here to read the article in French
The real-estate agencies and investors will meet on Tuesday 23 September at the Ministry of Economy in order to assess the situation and supervise the sector.
The housing availability in Phnom Penh is likely to be higher than the demand, believe several observers of the sector, forecasting a burst of the real-estate bubble.
“The real-estate sector is in danger of collapsing if the crisis continues further, particularly regarding the Chinese apartments”, believes Sung Bunna, director of the largest agency of Phnom Penh, Bunna Realty.
According to the director of Visal Realty, the purchasing price per square meter is allegedly even decreasing in some neighbourhoods of the capital city: if the market doesn’t take off within a year, it’ll result in a crisis”, he says, emphasising that the current slowdown could be the consequence of the election period, traditionally bad for business.
However, other professionals of the real-estate sector think that the commotion observed during these last months is due to a speculation which isn’t linked to the market reality: “The land prices increased because well-off people bought several houses with the intention to sell them again”, indicated a real-estate broker.
Two other factors explain the recent increase: the foreign investments in the real-estate sector and the economical development.
It is estimated that between 8,000 and 10,000 apartments are built each year in Phnom Penh.
The expected meeting on Tuesday 23 September at the Ministry of Economy will allow the professionals to prepare themselves for the coming market changes and to supervise the sector: out of approximately one hundred real-estate agencies in Phnom Penh, only about twenty have the required license.
The housing availability in Phnom Penh is likely to be higher than the demand, believe several observers of the sector, forecasting a burst of the real-estate bubble.
“The real-estate sector is in danger of collapsing if the crisis continues further, particularly regarding the Chinese apartments”, believes Sung Bunna, director of the largest agency of Phnom Penh, Bunna Realty.
According to the director of Visal Realty, the purchasing price per square meter is allegedly even decreasing in some neighbourhoods of the capital city: if the market doesn’t take off within a year, it’ll result in a crisis”, he says, emphasising that the current slowdown could be the consequence of the election period, traditionally bad for business.
However, other professionals of the real-estate sector think that the commotion observed during these last months is due to a speculation which isn’t linked to the market reality: “The land prices increased because well-off people bought several houses with the intention to sell them again”, indicated a real-estate broker.
Two other factors explain the recent increase: the foreign investments in the real-estate sector and the economical development.
It is estimated that between 8,000 and 10,000 apartments are built each year in Phnom Penh.
The expected meeting on Tuesday 23 September at the Ministry of Economy will allow the professionals to prepare themselves for the coming market changes and to supervise the sector: out of approximately one hundred real-estate agencies in Phnom Penh, only about twenty have the required license.
14 comments:
The financial fire is waiting to add fuel from the US and EU, and then you'll the chemical reaction will take place, and, sadly, Cambodia will get hit hard, economically.
Roum Rith pas de soucis à faire si les agences immobiliers et les les banques sont en faillites il faut que le gouverment aille pleurer aupres des pays amis le grand frere vietnamien le fond d'aide international aux pays pauvres et surtout et surtout la chine si non il faut vendre Preh reach Vieng et tous les patrimoines du cambodge à la limite vendre le cambodge aux pays voisins C. COmme on dit le cambodge est pauvre mais les khmers sont riche et vivre la corruption . C'est ça le communiste , privé de privilèges ces anciens dirigeants KR ont avalé tous les richesses du Cambodge et sur l'initiation de Samdach Ta Et VIVRE le patriotisme Vender vendre mes amis dirigeants actuels les petits khmers au fin fond du cambodge vont en bénéficier de ces richesse et de ces aides qui partent de la chine ect et qui vont revenir en chine et aux Vietnm avec des plus valus VIvre le patriotisme
How many people can read the f***king French in this place? You FRENCH sh*t eater, go and learn some English!
Don't try to show off your F*CKING french here. Scars still remain after F*CKING french left my country.
Go and F*CK ur France's first lady.
I think so. With French, no developments. Without French, we will have developments.
Stop using French and act like english-speaking countries.
what's the matter, you ignorants feel left out? perhaps you should consider learning French...after you've mastered proper English and Khmer that is...
You stupid above if you stupid just shot up! It people right to say what they want if not hurt your mother!
And by the way act as yourself, fool! do not pretend!
Come to Cambodia and we will teach you maybe some Japanese or Correan!
Thai and Vietname too! You refuge just proud of shit! Get out from the geto boy!
Why don't you complaint Sihanouk and enyone in Cambodia who wrote French? Thank for Complaining someone who wrote french but not this time. This this is our liberty isn't it ?
Some old khmers know how to read English but not write. Instead they know how to write French. Please let all khmers express their idea here in any language they can. Thanks.
I can't find the reasons why person who posts his/her comment in French annoys you!
Surely we can't post our comment in Khmer alphabet in this forum, so we have to post it in latin alphabet.
If you don't master well your English, why do you need to force yourself to write in English.
Each word has its meaning!!!
It is not strange for me at all to see anyone posts his/her comment in French, if sh/he masters well this language.
Thank you 10:16 and 11:54
sell to yeay phu....and hun's.....go to hell......no pitty ok........
I CANNOT WAIT TO SEE ALL OF YOU KILLING EACHOTHER FOR NONE SENSE,SOON ME YOUN AND SIEM WILL TAKE OVER YOUR LITTLE LAND ,
Everything will be better,Nothing will stay the same forever.I believe this matter only short term.
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