The property sector added 218 condominium units to the market during the third quarter of this year, bringing the total number of such units in Phnom Penh to 12,048, a CBRE Cambodia report said.

The report said two condominium construction projects were completed in the third quarter, including Skylar Meridian in Chamkar Mon district and the Apennines project in Tuol Kork district.

The number was far lower than in previous quarters. Some 1,200 condominium units were put on sale in the first quarter and 2,000 in the second.

The report showed that 80 per cent of the newly completed high-end condominiums are located in Chamkar Mon district.

There were six condominium development projects – totalling 2,374 units – announced to begin construction in the third quarter – a 5.2 per cent increase from the quarter before.

CBRE Cambodia residential project marketing manager Jonathan Flexer said the condominium market in the third quarter was unchanged, despite the national elections.

He said buyers were mostly from Singapore, Malaysia, China and Hong Kong, though the market has attracted more local people due to the rise in living standards. “Some projects have mostly attracted Cambodians,” he said.https://www.phnompenhpost.com/post-property/capitals-condo-market-rise