In the fourth quarter of the end of 2020, despite the risk of the Covid-19 disease crisis that is threatening to spread in the community at this time, the market property prices are confirmed to remain stable. There was no decline compared to the beginning of the year.
Mam Serey Panha, CEO of EASY Property Investment, said this morning, December 1, 2020, that despite the threat posed by the crisis, real estate prices, including The real estate and housing sectors were down, except for a handful of property owners with cash flow problems who were forced to sell below market value.
Mr. Mam Sereypanha further stated that “Real estate prices are more likely to rise when the economic situation improves, there is development activity in the construction sector, but it is not easy to fall, only in a state of stagnation or a slight increase, obviously. “Every year, the price of land and the cost of housing are constantly increasing.”
“When it comes to the real estate market, when there is a crisis, it turns into an opportunity for investors who have enough resources to buy, sell and resume profits after the crisis is over,” he said. Obviously, as in the current situation, the epidemic crisis for real estate prices on the market is not declining, but for those with cash flow problems or debt, banks can sell their properties at a price. “Below the market, such an image provides an opportunity for those who have enough resources to buy, sell and make a profit.”
Chairman of the Board of Directors of DEYTHMEY Real Estate Co., Ltd, Mr. Vin Chhunhat, who has a lot of plots of land and condominium projects in hand, acknowledged that recently, real estate transactions have been declining. Yes, but for the price is still the same, there is no decline.
“Only for land in the suburbs, the price is still high,” he said. If located next to a national road or a main road, a lot costs no less than $ 25,000, while the average house price starts at more than $ 70,000 per house. “For lots that are far from the suburbs or 30 kilometers from Phnom Penh, at least $ 6,000 or more, depending on the region.”
With the confirmation of real estate prices above, he expressed confidence that in 2021, both land and housing prices will continue to rise, especially after the crisis of infectious diseases is successfully prevented, while the good news of Vaccines are being distributed by major countries.