By His Pisei
Feb 10th 2021

Rents for serviced apartments in Phnom Penh had tumbled nearly 20 per cent year-on-year by the end of last year as the number of foreigners working and investing in the Kingdom dwindles

CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group Inc, said in the study that average monthly rent for top-quality “Grade A” one-bedroom apartments was $900-1,500 and $800-$2,300 for two-bedroom units as of the end of last year, cumulatively down 18.74 per cent year-on-year.

In the “Grade B” category, studios and one-bedroom apartments went for $500-1,000 per month at the time, while two-bedroom units were $1,200-1,600, down 18.21 per cent year-on-year.

She pinned the drop on foreign residents of Cambodia who had travelled to their countries of origin and had not returned due to global travel restrictions, adding that vacancies have driven rents even lower, a trend she said may persist throughout the year.

“According to research, apartment rental prices in 2021 may decline even further seeing that the number of foreigners travelling to Cambodia will not be as large as before.

“I don’t expect the market to be as strong in 2021 as it was before the crisis, it’ll take more time to attract more foreign visitors to Cambodia,” he said.

While official Ministry of Tourism statistics have yet to be published, minister Thong Khon estimates that Cambodia welcomed just 1.31 million international visitors last year, or down almost 80 per cent compared to the 6,610,592 who travelled to the Kingdom in 2019

fullhttps://www.phnompenhpost.com/post-property/ren ... -plunge-20

Here too: post473122.html#p473122

who was paying nearly $3k for just an apartment, in cambodia?

Phnom Poon wrote: ↑Thu Feb 11, 2021 10:33 pm who was paying nearly $3k for just an apartment, in cambodia?

I'm often surprised by what people spend. In recent polls expats have disclosed they're paying over $7000 for insurance, have monthly living budgets of over $10 000 + and are capable of spending thousands on a night out....I guess there are more wealthy expats than we might consider.

i see how a family budget can be $10k or more
i can't see why anyone would pay $3k for a 2-bed apartment in cambodia

I guess it's relative to how much money you're pulling in maybe - $3000 to some is like $300 to others.

I don't want to comment on the entire article. However, I constantly had stomach problems when I lived in LOS for 13 years . Constantly. However, I have been in PP now since August 2019 and no problems at all. I often cooked at home then as I still do today. Is it all MSG in Thai food? I don't know.

Kung-fu Hillbilly wrote: ↑Thu Feb 11, 2021 10:42 pm

Phnom Poon wrote: ↑Thu Feb 11, 2021 10:33 pm who was paying nearly $3k for just an apartment, in cambodia?

I'm often surprised by what people spend. In recent polls expats have disclosed they're paying over $7000 for insurance, have monthly living budgets of over $10 000 + and are capable of spending thousands on a night out....I guess there are more wealthy expats than we might consider.

Yup, no matter where you are in the world, if you’ve got $7000/mo to spend on an apartment there’s always someone willing to lease you a $7000/mo apartment.

As to whether it’s a tastelessly decadent way to live amongst surroundings of abject poverty is between those and their consciences...