The condominium sector saw the completion of 2,843 units and a continuation of developer’s confidence with 8 new condominium projects launched, adding 4,521 units to the pipeline.
Phnom Penh centrally-owned offices witnessed no new completions or launches during the first quarter, however one development launched strata-titled sales.
Overall footfall and sales in retail destinations plummeted due to the virus concerns. Consequently, retail leasing activity slowed, as many retailers cautioned against committing to expansion or relocation.
Quoted rental rates in community malls and prime retail podiums fell by 9.2% and 10.5% q-o-q, respectively.
Landed Property saw little sign of a slowdown, driven by strong local demand.