Interesting article about Phnom Penh condo market
- Sidewalker
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Interesting article about Phnom Penh condo market
There are people who cannot imagine that there are other ways of life than their own life.
- rogerrabbit
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The writer doesn't really understand Cambodian/Asian mentality. When time comes that middle class khmer can afford current "expensive" condos, they don't want old ones. They want new. Cambodians don't want to buy old condos. Just like in Thailand. People always prefer to buy new one.Cambodia, in general, should be a good investment for the long term, and as more Khmers move up and out of poverty and more and more businesses and jobs become concentrated in the cities, eventually there will be local demand for condos.
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TL;DR
Yes, it is a bubble. Cambodians can't afford buying this, but some experts think all is good in the long term, so screw that.
"only 13% of completed condo units were sold, compared to 37% for 2015", meeh, no big deal.
The Chinese are buying and will continue to do so, cause that is what Chinese people do, apparently.
(let's just ignore that the buildings are still empty with maybe just a single apartment lit at night).
What could possibly go wrong?
Yes, it is a bubble. Cambodians can't afford buying this, but some experts think all is good in the long term, so screw that.
"only 13% of completed condo units were sold, compared to 37% for 2015", meeh, no big deal.
The Chinese are buying and will continue to do so, cause that is what Chinese people do, apparently.
(let's just ignore that the buildings are still empty with maybe just a single apartment lit at night).
What could possibly go wrong?
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