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Cambodia has seen a gradual rise in affordable housing projects over the last couple of years.<\/p>\n
Arakawa housing project and WorldBridge Land are some of the prominent projects that have come up.<\/p>\n
However, the lack of laws surrounding affordable housing projects blurs the definition of affordable units. O\u2019Sullivan feels that there is a need for a set definition for affordable housing in the country.<\/p>\n
\u201cDevelopers have been launching projects and calling it affordable housing project but I too have my own understanding of what affordable housing is,\u201d he states.<\/p>\n
For instance, he cites, WorldBridge affordable homes are around $35,000 while the Arakawa project is considerably lower.<\/p>\n
\u201cBut not everyone has access to buying a property under a project such as Arakawa. Since the Arakawa project is working closely with the government, potential buyers will have to go through a filter in order to qualify,\u201d he tells Capital Cambodia.<\/p>\n
Raising foreign investment<\/p>\n
He strongly believes that foreign investment is something everyone has to be aware of. Markets such as Thailand are similar to Cambodia and they are also welcoming investments from other countries such as Singapore, China and South Korea.<\/p>\n
On the Belt and Road Initiative (BRI), O\u2019Sullivan says the project has been attracting investors and developers alike into the market along with the project.<\/p>\n
The BRI has had direct initiatives with the real estate market in Cambodia and it provides extreme confidence and acts as a huge driver for investments in the country.<\/p>\n
\u201cCambodia has a lot to thank China for including stimulating the economy. As it stands, we really need foreign investment from China, Japan and South Korea to build homes and hotels here,\u201d he adds.<\/p>\n
Touching on tourism, O\u2019Sullivan draws a correlation between the rise in tourism and real estate projects.<\/p>\n
He says that there definitely is stock for international investors to buy as in the case of Siem Reap where developers are building hotels.<\/p>\n
Investors can invest in that part of the market and lease the property out to visitors to see a return on investment.<\/p>\n
\u201cThere is enough supply for now but I don\u2019t think the international investors are slowing down,\u201d he adds.<\/p>\n","protected":false},"excerpt":{"rendered":"
Property sales in expos over 18 months will surpass $50 million, says realestate.com.kh chief executive officer Tom O\u2019Sullivan who believes that developers in Cambodia have wisened up, having learnt what the market demands.<\/p>\n","protected":false},"author":3,"featured_media":1819,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":null,"_FSMCFIC_featured_image_hide":null,"footnotes":""},"categories":[257],"tags":[375,110,376],"yoast_head":"\n