2025-02-10-莱坊-Cambodia_Real_Estate_Highlights_H2_2024_19页_1mb
报告摘要
Cambodia Real Estate Market Update - H2 2024
Economic Overview
- GDP Forecast: 5.5% growth for 2024, similar to 2023 levels, driven by tourism and export recovery.
- Tourism: International arrivals expected to reach 6.7 million in 2024, surpassing pre-pandemic levels.
- FDI: Grew 40% YoY to $6.9 billion, with industrial and logistics focusing on SEZ expansion.
- Property Market: Construction sector facing correction due to oversupply, but tourism and economic resilience create opportunities.
Key Market Sectors
| Sector | Total Supply (sqm) | Avg. Occupancy (%) | Trend |
|---|---|---|---|
| Office | ~1,015,000 sqm | 73% (CBD), increasing 2 pp YoY | High supply vs. demand; Grade A majority |
| Retail | ~870,000 sqm | 64.5% | Vacancy rates rising due to oversupply; sub-centres gaining share |
| Hotel | ~16,000 rooms | 77.8% | Luxury segment growing; economy segment under pressure |
| Service Apartments | ~8,400 units | ~54% | Demand from expatriates; projected 22% growth by 2027 |
| Condominium | ~57,772 units | Varied by tier | Core/Mid-tier demand; rental rates stabilizing |
| Landed Housing | ~93,573 units | Low sales but focus on affordability | Projects emphasizing community/Nordic themes |
| Industrial | $6.9 billion investment | 8.6% growth expected | SEZs driving FDI, Toyota set to invest |
Phnom Penh Market Dynamics
- Office: Supply growth slowed; 541,717 sqm projected by 2028; Grade B units absorbing space.
- Retail: Occupancy dropped to 64.5% YoY; focus shifting to community malls and e-commerce.
- Hotel: 7% YoY demand growth outpacing supply; luxury expansion (e.g., Shangri-La opening).
- Condominium: Core/Mid-tier sales improving; developers adopting strategic pricing and community-focused designs.
Future Outlook (2025)
- Phnom Penh supply projections for each sector:
- Office: +541,000 sqm.
- Hotel: ~19,300 rooms (+2%).
- Retail: ~1.2 million sqm.
- Industrial: SEZs focus growth beyond manufacturing.
- Despite slowdowns, tourism and foreign investment underpin recovery in high-demand areas.
Key Initiatives
- Government: Reduced taxes on properties under $210k, supported homeownership.
- Logistics: Toyota assembly plant in Phnom Penh SEZ, bolstering industrial growth.
This H2 2024 review highlights the resilience of Cambodia's real estate sector amid global uncertainties, with continued focus on industrial hubs and urbanization.
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