Experts optimistic about real estate sector after elections
Experts optimistic about real estate sector after elections
Most real estate experts think that real estate prices in the Kingdom will remain stable after the coming national election and will experience the same growth as early this year, although after previous national elections the sector froze.
Kuy Vat, president & CEO of Vtrust, said that “if we look at the current tendency and the political situation compared to the previous term’s national election, it is quite different. Before, the investors and ordinary people felt afraid when the national elections were coming, but now the people, as well as investors, do not feel afraid.”
He confirmed that “because political stability and economic growth is strong, together with the influx of a lot of foreign investment, it gives trust and more confidence in the real estate sector. However, a little feeling of being afraid remains, so if the political situation after the election is not good, it will affect this sector because politics and economy always run in parallel.”
Sorn Seap, general manager of KEY Real Estate Co, agreed with Kuy Vat, explaining that it will be no problem after the election, and prices will continue to increase, “because if we look at the current and actual situation, the politics in Cambodia is mature enough. Currently, overseas companies in services related to the real estate sector are coming to Cambodia more and more, as they see that the political and economic conditions in Cambodia are strong,” he added.
He confirmed that “after the election, I believe that the real estate prices will still increase and even if the political situation gets stuck, it will not last for a long time.”
Po Eavkong, managing director of Asia Real Estate Cambodia, spoke carefully on the issue, saying that the election is a political issue which is difficult to speculate on, “but we can analyze two things: first, if the election goes smoothly, it will also make the sector go smoothly as well, and secondly, if the election is interrupted by various demonstrations, it could have some impact on this sector or only get stuck for a while.”
He emphad that “foreigners who want to buy real estate in Cambodia now are cautious, as most of them are still waiting to see the economic factors and social stability after the election, but for local investors they are not waiting to see anymore.”
Noun Rithy, general manager at the Bonna Realty Group, said after the upcoming national election in July, the real estate sector will be stable for a while, “because investors will wait to see our political and economic situation, and if the government can form the council of ministers quickly, everything will go as fast as possible.”
He said “we, however, hope the situation will remain good, and the same as now, and if the political and economic situation remains good after the election, the real estate sector will grow even further.” He added “if we look at the general situation, everything does not have negative points, although some projects are still waiting to see the situation after the election.”
phnompenh post
