According to a document entitled “Phnom Penh 2030”, the number of homes under construction will triple in the next 13 years. The appraisal company claims that the total number of homes is currently 150,000 but will increase to 450,000 by 2030.
There are 14 districts in Phnom Penh. Seven of them have been busy with construction, the report said. Housing supply demand, which will increase to nearly half a million by 2030.
This increase may be due to the development of infrastructure projects that make it easier to travel to and from the city, especially the road network. Along with the influx of increasing population.
An economist, Mr. Nget Chou says that more and more housing growth will lead to higher property prices in recent years. Land prices increase by between 7-10% per year depending on the location.
“The current supply of affordable housing does not meet the living standards of workers, as a house costs at least 25,000 dollars,” he said. “This crisis has already happened in Hong Kong, so Cambodia should be prepared.”