Early this year I had the good fortune to spend some time in Cambodia, and inevitably couldn't resist taking a look at the property market there.
The Cambodian economy is still recovering from the fallout of the Khmer Rouge conflict, but it is recovering fast and my view is the place will look completely different in just a few short years. Many of Cambodia's roads are dirt roads which turn to mud in the wet season, even between major towns. However, this is now changing and roads are being built apace.
Since being in real estate cambodia I have noticed that the Cambodia government is taking steps to make both easier and safer for foreigners and foreign entities to invest in the country with the aim of attracting considerable foreign investment, and not just in real estate.
It is also expected that the Cambodian government will soon make it possible for foreigners to buy real estate in their own names without the need to set up a company as it currently stands.
Without going into the economic details in this blog, we believe that all the signs are pointing to surefire growth period to come in the Cambodian property market. Many international property developers have already made their way on to the scene recently in light of the changing regulations.
Particularly recently I have started to see cambodia real estate property developments promoted not just in the capital Phenom Pehn but on the coast, in locations such as Kep. I think there there is undoubtedly a lot of potential, but investors must be aware that the market is still very new and immature and will change a lot of the coming years - so it is not without its risks.
Given property price growth in many of SE Asia's property markets has either slowed considerably or are in reverse gear, Cambodia may be a place to look for those interested in investing in the region and can handle a little more risk and uncertainty.
The Cambodian property market is certainly a market to keep a close eye on.