Sihanoukville property market stays optimistic, despite tumble

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SIHANOUKVILLE (The Phnom Penh Post/ANN): A ban on online gaming towards the end of last year followed by the emergence of Covid-19 as a pandemic has not boded well for the real estate market in Sihanoukville, which has gone from boom to bust.

The market is way down from where it was just a year ago when the once famed coastal city was the go-to investment destination for Chinese real estate investors.

The government’s ban on online gambling that took effect on Dec 31, last year, however, resulted in a mass exodus of Chinese nationals. He said with the improvement in infrastructure in the province, he expects property prices in Preah Sihanouk province to rise again once Covid-19 has ended. He said property prices are now down 20-30 per cent from the same period last year, while rental prices have fallen more than 50 per cent.

 

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