PHNOM PENH, Dec. 16 (Xinhua) -- Economists said that the nearly one billion U.S. dollars in foreign aid pledged to Cambodia by donor nations last week could boost the country's sagging real estate market as early as 2010, national media reported Tuesday.
Kang Chandararot, president of the Cambodia Institute for Development Study, told the Phnom Penh Post that he expected the real estate market will rebound in two years, largely on the strength of foreign aid.
"If the government uses the aid to develop the country...then I think real estate may begin to stabilize," he was quoted as saying by the Post.
But he cautioned that aid would not boost prices to the unprecedented levels seen last year.
Local real estate peaked in 2007 and 2008, partly driven by South Korean investment.
The market started to drop in September, although low transaction volume and scant figures make the depth and impact difficult to assess.
Kang Chandararot said foreign investment would be key to rebuilding the sector, but that other factors, such as the global economic crisis and border tensions with Thailand, could remain obstacles to growth.
Hang Choun Naron, secretary general for the Ministry of Economy and Finance, agreed that the sector was poised to recover.
"I (think) the real estate market will return to normal within the next two or three years," he told the Post.
Kang Chandararot, president of the Cambodia Institute for Development Study, told the Phnom Penh Post that he expected the real estate market will rebound in two years, largely on the strength of foreign aid.
"If the government uses the aid to develop the country...then I think real estate may begin to stabilize," he was quoted as saying by the Post.
But he cautioned that aid would not boost prices to the unprecedented levels seen last year.
Local real estate peaked in 2007 and 2008, partly driven by South Korean investment.
The market started to drop in September, although low transaction volume and scant figures make the depth and impact difficult to assess.
Kang Chandararot said foreign investment would be key to rebuilding the sector, but that other factors, such as the global economic crisis and border tensions with Thailand, could remain obstacles to growth.
Hang Choun Naron, secretary general for the Ministry of Economy and Finance, agreed that the sector was poised to recover.
"I (think) the real estate market will return to normal within the next two or three years," he told the Post.
10 comments:
Build up rural area fool not to boos up only your fucking rich area!
I hope all the high ranking stop swallow these money.. and build up the country..
khmer krey kro
Yes, we must stop Ah Thief (Scam Rainxy).
12:35 am, go back to eat yuon shit.
yes, cambodia is a new market in real estate, almost like a novice at that. thus, real estate, perhaps after tourism is the number one money maker which happened to make some lucky cambodian business people very, very rich, indeed, due to this real estate phenomenon in cambodia. and it still and will continue to make its presence in the cambodian market for quite a long time to go. can not go wrong, my dear! god bless cambodia.
1:16AM1 who next!!!!
Put money their you are a new victime!
Ponzi in the move, fool!!!!
wHO NEXT?
Put your money there, you are going to be a new victim!
Ponzi's in the move!
I think these experts are totally wrong. Cambodia has been shared by Hun sen and his friends for almost 50% of the total lands. They don't need to use aids moneys to buy lands at all. If they require more lands, they just arrest those presently the owners of the lands and put them in jails. The high price of the lands in the post election in 2008 were being systematically set up by Hun Sen for three purposes.
1-To attract stupid overseas people to buy lands so that they can ammasse more moneys.
2-To prove to the blind voters that they are the best government for making Cambodian lands more atttractive in price and more development in real Estate.
3-If they loose the election and the price of Real estate collapse, they will blame Sam Rainsy and the later will face condamnation from all Cambodian for wrecking Cambodian Real Estate Price.
But how can Cambodian Real estate be increased in price? All public servants are paid with slavery salaries and wage. They need to save 400 years before they can buy a small peace of lands and a small house. And for overseas people, how many idiots will be still fouled by these monkeys. Areak Prey
If the real estate keeps rising. Where are all the 95% poor going to live?
The government should look for increase in development of manufacturing or agriculture so everyone will have jobs and income and not just benefit minority business people.
6:35 is complety right!! people need jobs very bad..nowaday! so they don't risks their life crossing into thai..and get shot! All of those top leaders had so much, and enough already, why can't you turn around and look at the people and the country?? help rebuild the country pls...do something good for the country plse!
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