Cambodia’s economy is doing great for the past few decades. The good thing about the Cambodian economy is it has never seen a recession. Although there is nothing such as a recession-proof country.
Do you know Cambodia’s economy was booming even during the economic downturns? The country has successfully passed major recessions of 2000 and 2007.
As we know, Coronavirus has hit all the major countries around the world.
The major part of any country is based on its real estate performance. From the real estate market performance of any country, we can determine its economic performance. In other countries, businesses are not doing well, and people’s purchasing power has been declined. This resulted in a decline in real estate marketing. Talking about Cambodia, this is not really the case. The Cambodia property market performed nicely over the past few decades.
Some popular real estate cities of Cambodia are Phnom Penh, Sihanoukville, and Siem Reap. These are the cities that are in terms of the property market. More Cambodian and foreign investors are willing to invest in these cities’ real estate markets.
When we talk about Cambodia, Sihanoukville is the city we can’t miss out on. A few years ago, Sihanoukville used to be a silent coastal city. At that time, no one thought that the city would play a significant role in the country’s economy within a few years. At present, Sihanoukville gets the second place (after Phnom Penh) in terms of Cambodia economy.
Right now, Sihanoukville is the tourist attraction place with an industrial deepwater port. Due to tourism, the town has a more lighthearted flavor than Phnom Penh. It is a Peninsula, and it has several beaches and islands.
The town was developed mainly because of Chinese investors. Before Chinese investors started coming and investing in the province, it used to be a quiet town. Today, the majority (around 90 percent) of the Sihanoukville economy is in the hands of Chinese. You will find most Chinese-owned restaurants, casinos, karaoke, and massage parlors in the province.
Do you know Sihanoukville real estate are slowly filling up and Chinese people are returning slowly to the province, which is further giving a boost to the property market. In the province, the Chinese own 150 of the 156 hotels and guesthouses, 48 casinos out of 62, 41 karaoke, 46 massage parlors, plus 95 percent of 436 restaurants.
As the Cambodian government allows buying properties to foreigners (under some restrictions), more Chinese investors are investing in the country’s property market. With Chinese coming back to the province, we are seeing the spike in Sihanoukville’s property requests. The prices have become stable and are about the same as Phnom Penh prices.
If you are interested in investing in real estate in Sihanoukville, it is imperative to find the right real estate agent. No matter whether you are a Cambodian citizen or a foreigner who wants to invest in the region, Dragon Real Estate can help you. We will help you find the perfect property as per your budget and other requirements.