Housing demand declines sharply in last two years

The demand for housing in Cambodia declined sharply as one property developer witnessed as much as 90 percent drop in sales during 2021 and 2022, according to figures from the Ministry of Economy and Finance (MEF).

However, the figures showed that the number of property development projects approved by the Real Estate Business and Pawnshop Regulator (RPR) of MEF—the supply side—increased 16 percent in which a 93 percent increase in approved flats, 7 percent decrease in approved villas, and 83 percent decrease in approved condominium units.