| From Property-report.com: Phnom Penh is being heralded by many as SE Asia’s latest property hotspot. The real estate market appears to be growing exponentially, but can the country’s fledgling market economy sustain such rapid expansion? For three decades Cambodia has struggled to recover from the legacy of the genocidal Khmer Rouge regime. The country has only recently achieved a moderate level of political stability, but with double-digit growth and rapidly rising land and real estate prices, international investors are already heralding Cambodia as Southeast Asia’s latest property hotspot.
Major new residential developments are sprouting up across the capital, and the country is increasingly the target of private equity funds, but this new inflow of capital has so far been of little benefit to Cambodia’s poverty-ridden population. As deprived communities are evicted from their homes to make way for new high-rise developments, it remains to be seen whether there will be a genuine demand for luxury apartments and penthouses in Phnom Penh, or whether the city’s construction boom is being fuelled more by speculation and the lure of short-term profit..... Full Article: Source
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