Q3 Marketview Phnom Penh, Cambodia 2020
Revised GDP growth forecasts indicate the Cambodian economy is doing better than initially expected. Predictions estimate that 2021 GDP growth will offset the deficit of -2 to -4% expected in 2020.
Over a six-month period from Q1 2020 to Q3 2020, eighteen landed property scheme were launched, equivalent to some 7,500 units.
Both the office and retail sectors experienced further downwards pressure on occupancy. The retail sector was mostly stable, however, the office sector witnessed rental rate corrections across 3 subsectors.
Over Q3 2020, landlords have entertained more discussions related to incentives across all commercial and residential sector, as well as markedly increased spending in an attempt to capture more local buyers.
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