Hello all -
How will the Cambodia economy be affected going forward, particularly in the real estate (RE) sector? We are expecting a downward swing in the prices of home sales, at least in the USA. So far some 26,000,000 Americans have lost their jobs going back 5 weeks. Perhaps some of those will become permanent. The U.S. gov has been throwing money (debt) at its people, including undocumented or illegal aliens. Some $13,000 has been proposed in the next round of the stimulus package. That is per person 16 years or older with AGI up to $130,000.

As for Cambodia, does the government do anything at all to assist its citizens under this global pandemic? Do you foresee many Cambodians will be jobless, like what would the projected unemployment rate be in the next 12 months? Is the situation really the same for someone who is without a job in Cambodia versus someone jobless who lives in NYC or LA? Will RE prices fall, by how much? Mike.

My team have had pay suspended, they are getting 40$ a month from the government, that's the best option I've found for the tourism industry. Siem Reap is devistated by this and I don't see anything improving until October at the earliest.

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MikeD wrote: ↑Tue Apr 28, 2020 6:12 pm How will the Cambodia economy be affected going forward, particularly in the real estate (RE) sector?

the economy has some bad weather ahead
but are real-state prices tied to the real economy?
i don't think so, really
some homes in the huots are going for $million+, how is that realistic?

Phnom Poon wrote: ↑Tue Apr 28, 2020 8:30 pm

MikeD wrote: ↑Tue Apr 28, 2020 6:12 pm How will the Cambodia economy be affected going forward, particularly in the real estate (RE) sector?

the economy has some bad weather ahead
but are real-state prices tied to the real economy?
i don't think so, really
some homes in the huots are going for $million+, how is that realistic?

Google translate.

realistic? = Riel-listic

John Bingham wrote: ↑Tue Apr 28, 2020 6:32 pm

MikeD wrote: ↑Tue Apr 28, 2020 6:12 pm Do you foresee many Cambodians will be jobless, like what would the projected unemployment rate be in the next 12 months?

There are already a huge number out of work. Just today I read that 10,000 garment workers haven't returned from their Khmer New Year trips as they don't want to be put in quarantine. There are closed businesses all over the place and there is no longer a tourist industry. It could get very messy.

The biggest question is,
how much of the Cambodian economy is affect by tourism? Are hotel room rates dropping significantly due to recent decline is tourism? Roughly what fraction of the total workforce is represented by the garments? Are small private businesses doing ok?