Earlier this month, CBRE Cambodia released its yearly real estate forecast for 2019. Dubbed the “Fearless Forecast,” the document runs through the entire real estate industry from residential all the way to retail.
The forecast runs through a myriad of topics that defined conversation in Cambodia over the last year. Construction, minimum wage, flooding, activity in Sihanoukville, casinos in Sihanoukville and the EBA trade deal cancellation were just a few of the areas of focus.
As for retail, the report notes that supply is set to increase across all sections of the market. It notes that the number of entrants into the retail sector in Cambodia soared over the course of 2018 with 65 added to the market.
Moving to the office sector, CBRE’s report highlights the growth of strata-titled office space in Phnom Penh. Grade A office space, which is new to the Kingdom this year, is expected to see significant growth over the next two years. In fact, CBRE expects it to overtake Grade B office space in just two year’s time.
Price correction
Everyone’s favourite topic lately has been the condo sector and speculation about oversupply. Read our full explanation of condo oversupply and what the experts say. CBRE’s report expects there to me downward pressure on the price because of rising supply.
Interestingly, the report actually predicts the price of condos in the affordable sector will rise over the course of 2019.
Check out the video
Realestate.com.kh wanted to get a deeper explanation of this great report so we brought two experts from CBRE into our studios to talk about the Fearless Forecast.
On the English side, we spoke with James Hewson, the research and consulting manager at CBRE.
We also spoke with Kinkesa Kim, a senior analyst at CBRE.
So, check out our videos in both English and Khmer on the forecast. If you want to download the paper for yourself head over to CBRE’s research page. And don’t forget to subscribe to Realestate.com.kh YouTube page so you can keep up with all of our coverage.
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