CBRE: New Condo Supply in Phnom Penh to Reach 13,000 Units in 2022
New condo supply in Phnom Penh is expected to reach over 13,000 units in 2022 while more than 50 landed property projects will also be added to the market this year, according to CBRE Cambodia Report 2022.
Image: Future Southeast Asia
Of the new condo supply, 100 units are high-end, 6,000 units mid-range and 7,000 units affordable and of the new landed property projects, 2 projects are high-end, 30 mid-range and 20 affordable.
Notable future condo supply in 2022 includes The Peninsular Private Residences in Chroy Changvar district, Park Land Condo TK (Phase I) in Sen Sok district, Orkide The Royal Condo in Sen Sok district and Parc 21 Residence in Chamkarmon district.
Image: Future Southeast Asia
Remarkable future landed property supply in 2022 includes Borey Peng Huoth The Star Munirah in Chroy Changvar, Chip Mong Parkland 50M in Mean Chey, Phnom Penh Thmey Elite Park in Sen Sok and The Varina The Shoppes in Sen Sok.
The report said 4 condo projects comprising 1,000 units and 62 landed property projects comprising 20,000 units were launched in 2021, but fewer new residential projects are expected in 2022 allowing time for the market to absorb the existing stock.
This year, it is expected that promotions and offers will be diverse and competitive and so there will be opportunities for bulk buyers and operators to purchase at a discount.