Are you planning to get into the real estate business in Cambodia?
Among different business opportunities in Cambodia, real estate is one of the best ones. The real estate of any country is mainly based on its economic performance, i.e., GDP.
For example, if the country’s GDP rate will not be good, it states people are making less money, and due to this, real estate buying will also be less. Due to this, real estate of that country will not do well.
Talking about Cambodia, it has tackled great economic depressions, without getting affected much. The country is continuously progressing in terms of its GDP and economy. Over the past 20 years, Cambodia has not suffered a single year of recession.
The country has passed some significant economic downturns like the 1990s Asian Financial Crisis, the 2000s tech bubble, and the 2008 Financial Crisis. During these economic crises, the economy of Cambodia was stable.
Cambodia GDP Last 20 Years
GDP (Gross Domestic Product) is one of the best measures used for identifying the economic strength of any country. GDP indicator gives us an idea about whether the manufacturing sector and service sector of a particular country are doing well.
Over the past 20 years, the GDP of Cambodia grew substantially from $3.67 billion to 26.73 billion. For all these 20 years, Cambodia’s annual GDP rate was always positive, even during the years of economic downturns.
The GDP annual rate of Cambodia reached a maximum of 19.84% in 2008 and then decreased to 9.35% in 2019.
From these figures, we can get the idea that making an investment in different businesses in Cambodia can help to generate better returns. No matter whether you are a Cambodian national or a foreign national, real estate is one of the best investment options in Cambodia.
Even if you are a foreign national, you can own property in Cambodia. There are four property titles: hard, soft, LMAP, and strata. Hard, soft, and LMAP are only for Cambodian nationals, while strata title is for both Cambodian and foreign nationals. To give you a better insight into Cambodia real estate market, we will show you the country’s previous 20 year’s data.
If you are a foreign citizen, a condominium can be a great investment option because it allows freehold ownership. On the Dragon Real Estate website, you can find condo for sale.
Some previous property market data of the country will give you the reason to invest in Cambodia’s real estate market.
From the starting of the 20s, the property market in Cambodia is booming. Do you know the residential and commercial land value in Cambodia had at least tripled from 2000 to 2019? During the year 2014 – 2016, the real estate market of Cambodia was booming. The property prices of the country from 2014 to 2016 increased by as much as 50%.
The property rates differ based on whether it is inside the city or outside the city. At present, the price of residential land per sq.m. inside the city is around $2500, and the price of commercial land per sq.m. inside the city is around $5000. This was used to be $500 and $1000 for commercial land per sq.m. and residential land per sq.m. in the city, respectively. The prices of the villa with three bedrooms used to $80,000 three years ago, which is now around $600,000.
From the above explanation, we can conclude that the property market in Cambodia, especially in its top cities like Sihanoukville, will continue doing well. If you are a foreigner, it is a good idea to invest in condos. Visit https://dragonreal.estate to check out Dragon condos price.