Supply Trends
There are 114 apartments of all grades A to C, including approximately over 2,093 units’ apartments for rent, in Phnom Penh. Market share remained the highest amongst grade B, accounting for 64% of total supply. The number of units in this quarter increased by 3% quarter-on-quarter and by 9% per year-on- year.
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Market Performance
The average occupancy rate of the overall market of grade A increased by 94%, Grade B by 89%, Grade C by 82% in the last five quarters.
Demand Trends
Apartments usually have more space, privacy and comfort than hotels and
therefore are often the preferred choice of international visitors who conduct
repeated short-term stays for business purposes. Demand in some districts/Khans
such as Chamkarmorn, Toulkork, Daun Penh and 7Makara but other khans has not
been met, as there are no existing apartment projects in these areas. Demand
for serviced apartments may also be affected by competition from large,
although competition from private houses and fully furnished condominiums with
housekeeping and security services and with professional services and
management remain the preferred accommodation.
Outlook
Supply in coming years will increase the 20 known future projects coming
on the market. Nine of these 20 projects plan to provide approximately 290
units, while the number of units in the other 11 projects is yet to be
ascertained.
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#B52-B54, Chamkarmorn, Phnom
Penh, Cambodia.
Tel: +855 (0) 23 699 9997
Hotline: +855 (0) 16 666 139
Email:
info@arc.com.kh
These apartments are good for spending holidays. Apartment for rent Phnom Penh is available with luxury facilities with nice location. See here.
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