All around the world, different countries have been affected due to COVID-19. Due to this, people are spending most of their time at their homes. Because of this, the economy of various countries all around the world have been affected badly. People are losing their jobs, businesses are not doing well, and the unemployment rate is rising constantly.
Some countries that have been affected badly because of this virus are United States, India, Brazil, Russia, and Colombia. These are the countries where the number of Coronarivus cases and the number of deaths is increasing daily.
Though the majority of countries are affected by this deadly virus, there are some countries doing well even during this pandemic. Those countries are Cambodia, Barbados, Belize, Brunei, Dominica, and many others. Among different countries, Cambodia is the one where there are no new cases are being repeated daily. As of September, there are just 275 COVID-19 cases reported in Cambodia.
As business owners and investors around the world are suffering due to this virus, it is good to invest in countries that are already doing great in this tough time. Investing in these countries will help you get better returns.
Talking about Cambodia, it is doing great even during this pandemic. Do you know, Cambodia real estate is booming even in these tough times. Though there is no country such as recession-proof. But, when you will take a look at the history of Cambodia, you will find that the country has tackled various economic downturns without getting affected much. So, COVID-19 is not something new for the country to tackle as it has already successfully tackled major financial downturns of the 1990s, 2000s, and 2008.
In Cambodia, the property sector continues to boom despite Coronavirus. The real estate projects are continuously being launched and prices are steady. The country has performed well consistently and in Cambodia, investment from countries such as China and Hong Kong is high.
Due to positive data despite the pandemic outbreak, more investors are returning to Cambodia. If you are interested in Cambodia property market, no matter what country you are from, it is the right time. Flying to Cambodia would be beneficial not just in terms of investment. It would also ensure your safety. As the number of COVID-19 cases in the country is very less and it is not getting any cases on the daily basis, you would be safe.
Even during this pandemic, CBRE projects a 34% increase in condominium supply this year. It is expected that a total of 28,000 units to have been completed by the end of this year.
“The beginning of economic recovery in China has proved positive for Cambodia, with investors beginning to return to both Sihanoukville and Phnom Penh. While the global travel restrictions are causing delays, it seems international interest has begun to return,” CBRE reports in the Q2 market report.
Currently, more and more investors are returning back to Cambodia. Investors are flying mainly to the main real estate locations – Sihanoukville and Phnom Penh. These are the Cambodian cities where the property market is booming.
Here’s what CBRE Senior director, James Hodge has to say “Cambodia still represents good value for investors. The price isn’t too high at around US$1,800-2,000 per square meter for a good quality project. Assets here are held in US dollars, which is also attractive for many.”
As more number of people are returning back to Cambodia, we can expect further development in real estate in Cambodia. If you are planning to invest in the Cambodia property market, it is good to take the help of a reputable real estate agency. Dragon Real Estate is a trustable and reputed agency in the country.