Cambodian Real Estate trends to understand this 2023 before you buy a new home

Purchasing a home is a significant investment that necessitates careful planning and research. Looking at market trends and the overall development of the country can help you decide when to invest in your dream home. Here are some Cambodian trends to look out for in 2023 before purchasing a new home.

Improving “Ease of Doing Business” Ranking in Cambodia

- According to the World Bank's "Ease of Doing Business Index," Cambodia has improved. It is now ranked 144th, having risen from 151st in 2019. Local and foreign investors are increasingly optimistic about the country's relative stability and peace. This has also increased the confidence of investors and developers, as property prices in the country's key cities and economic hubs continue to rise.

Furthermore, the government has implemented a number of policies and initiatives to assist the real estate sector, such as lower taxes and fees, loan and subsidy programs, and infrastructure and public service improvements.

Consistent economic growth

- The Cambodian economy appears to have recovered from the effects of the pandemic. Despite the pandemic's challenges, Cambodia's economy has remained resilient and robust.?

This has increased the purchasing power and living standards of many Cambodians, who are looking for better quality and more affordable housing options. As of June 2021, Cambodia had over 1.2 million registered housing units, according to the Ministry of Land Management, Urban Planning, and Construction.

Changing Property Preferences

- The changing preferences and needs of buyers and sellers have influenced Cambodian property demand and supply.?

Some of the emerging trends include:

ONLINE PLATFORMS

-? The rise of online platforms and digital tools that facilitate the buying and selling process. More people are using websites, apps, social media, and virtual tours to search for properties, compare prices, contact agents, and make transactions. According to a survey by Realestate.com.kh, 76% of property seekers used online platforms as their primary source of information in 2020.

Visit our website at www.buratinorealestate.com. for all our property listings and how you can avail of discounts and installements schemes that’s right for you.

iNCREASED DEMAND IN LANDED PROPERTIES

- The shift from urban to suburban areas, as more people seek more spacious and comfortable living environments. This has increased the demand for landed properties such as villas, townhouses, and shophouses, especially in the outskirts of Phnom Penh and other provinces. According to the CBRE Cambodia, the average price of landed properties increased by 4.7% year-on-year in Q3 2021.

For a full listing of hundreds of our landed properties, visit our website at www.buratinorealestate.com?

DIVERSIFIED PROPERTY SEGMENTS

- The diversification of property types and segments, as more developers cater to different market niches and customer segments. Some of the popular property types include affordable housing, green buildings, mixed-use developments, co-living spaces, and serviced apartments. According to the Cambodia Real Estate Association, there were more than 300 registered real estate projects in Cambodia as of September 2021.

Buratino has a diversified list of its own properties. From affordable housing segments in its upper floor house listings to its flat and shop, we have the right home that is perfect for the buyer's needs.?

These are some of the main trends that you should be aware of when you are looking for a house in Cambodia. By understanding these trends, you can make a more informed decision and negotiate a better deal with your seller or agent. Remember that.

You want to know more? Email us [email protected] and request a property consultant to guide you.?