Low-cost housing favoured in saturated market

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Cambodian Valuers and Estate Agents Association is a non-profit organization of professional valuers and real estate agents.CVEA is a body which brings together property valuation & real estate agents organizations that represent valuers, real estate agents and related property consultants employed in private practice, business and industry, the public sector, and education, as well as some specialized groups that interface frequently with the profession.
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2017-08-07-07-48-25

សមាគម : បានរៀបចំវេទិកាស្តីអំពី ភាពជោគជ័យរបស់ភ្នាក់ងារអចលនវត្ថុកម្ពុជា

07/Aug/2017

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CVEA : Cambodian Real Estate Convention and Expo 2017

27/Jun/2017

សមាគមអ្នកវាយតម្លៃ និងភ្នាក់ងារអចលនវត្ថុកម្ពុជា CVEA សូមថ្លែងអំណរគុណដល់ក្រសួងសេដ្ឋកិច្ច និងហិរញ្ញវត្ថុ ក្រសួងដែនដី នគរូបនីយកម្ម សំណង់ និងសុរិយោលដី សមាគមអ្នកអភិវឌ្ឍន៌លំនៅដ្ឋានកម្ពុជា...
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CVEA : training on Transformin and Unlock Potential of Sale Agent

26/May/2017

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សមាគម CVEA បានរៀបចំកិច្ចប្រជុំប្រចាំខែការិយាល័យរបស់ក្រុមហ៊ុន CPL

26/May/2017

កាលពីព្រឹកថ្ងៃទី 25 ខែ ឩសភា ឆ្នាំ 2017 សមាគម CVEA បានរៀបចំកិច្ចប្រជំុប្រចាំខែជាមួយសមាជិកភ្នាក់ងារអចលនវត្ថុនៅការិយាល័យរបស់ក្រុមហ៑ុន CPL Properties Limited ។...

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Phnom Penh is currently saturated with ritzy condominiums and other pricey residential developments, however developers are increasingly paying attention to a gap in the market with a string of affordable housing developments having been announced since the beginning of the year.

Local investor WorldBridge Land, together with a Singapore-based construction company, was the first joint venture to get the ball rolling with much-needed affordable housing, officially launching the low-cost housing project, which will be developed in Kandal province, in January.

Earlier this month, another local development was granted government approval to launch a low-cost housing project, also set to be located in Kandal.

Commenting on the emergence of affordable housing schemes in Cambodia, Cambodian Valuers and Estate Agents Association president Kim Heang said there was a big demand in the market for cheaper housing solutions.

“The market for the expensive and medium-cost residential market has dried up as the apartments have already been purchased,” he said.

“They will not buy more, and this is why investors and developers are steering their ship towards targeting the low-income customers.

Housing Development Association of Cambodia president Oknha Ly Hour echoed Heang’s comments saying that while sales among higher-priced condos and apartments had stagnated recently, low-income housing projects were gaining interest and momentum.

WorldBridge Land’s low-cost housing project, located about eight kilometres south of Takhmao, will comprise 2,297 two-storey houses with prices ranging from $25,000 to $30,000.

The housing project’s main focus is on government officials married with kids, who, due to their low monthly salaries and low retirement payouts, are unable to purchase a home within market value. Following this prioritisation are regular families, who must meet a monthly income pre-requisite of less than $500 to be eligible to purchase.

Source From: Phnom Penh Post

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