PHNOM PENH: The Cambodian real estate market does not appear to be recovering yet, with some experts predicting that the value of real estate sales will not fall.
Mr. Lim Heng, Sales Manager of TLL Borey Project, stated over the phone with Property Area on March 25, 2022 that the recent economic situation is largely due to the protracted COVID-19 disease. Despite the relief at the start of 2022, our people’s lives have not improved two years later.
As people’s incomes fall as a result of COVID-19’s more than two-year rule, the impact of their real estate purchases has waned, he explained. Their income is decreasing, and their savings are being depleted. They are attempting to cut costs, and this is due, in part, to the public’s mentality regarding the war in Ukraine, “he stated. “There’s also the issue of rising oil prices.”
He did, however, state, “The real estate industry is not the same as the market sale of goods. In general, the price rises rather than falls, with the developer attempting to facilitate payment. ” such as low monthly payments or long-term interest-free payments, as well as the addition of materials, because the development factors in each area are becoming more and more important from day to day.
He stated that the price of land, whether in the project or in general, increases according to the landowner or project owner or depending on the geographical location, while emphasizing that people are born every day. However, land cannot grow or prosper. Land is distinct from other commodities that man can produce, so it cannot be overlooked.
In this regard, Borey TLL has been adjusting the payment terms so that customers who buy houses, businesses, and plots in this project can benefit from special conditions that will help them make ends meet while also allowing them to buy houses and plots of land. profitable in the long run.