CBRE Cambodia | Phnom Penh Market Update Q4 2021
28 February 2022
Quarter four of 2021 marked two significant milestones presenting a renewed sense of optimism. The Kingdom’s population reached a full vaccination rate of 80.60% and the boarder re-opened for vaccinated travelers on November 15th.
Despite the growing confidence and genuine sense of light at the end of the tunnel, the strains of both oversupply and the impact of the pandemic are inescapable – over the period of 2021, office occupancy dropped by 8.39% and equally strains of the pandemic force condominium developers to delay projects, meaning 2022 will witness a potential 42% increase in total market supply.
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