Our first piece today from Khmer Times is reviewing an interview with Fiabci-Thai president Dr. Sopon Pornchokchai, also a member of the Asean Real Estate Network Alliance council. Cambodia, he says, with about 50% formal market share of condos, including 33% in Phnom Penh, is quickly catching up to Bangkok, with 60%, and also attributes recent growth heavily to Chinese developers and investors. While this may help Cambodian property markets in the short term, longterm domination by insular groups can lead to issues with pricing and affordability later on, Pornchokchai worries. In the meantime, infrastructure improvements are sorely needed in places, but improvements will come hand-in-hand with a boost to the country’s tourism industry.
In local news, according to a PR Newswire release, an Amanpuri Phuket villa is for sale/auction again on 23 March starting at THB 17.75 million, half of the previous auction’s opening bid. The auction, managed by Concierge Auctions will run for a week, selling finally on 29 March, that is if bidders decide to show more interest at this more reasonable-sounding starting offer. Amanpuri, a 4300 sq. metre private villa boasts pure ocean views over Pansea Beach, along with 7 bedrooms across 4 pavilions, a swimming pool and a host of luxury amenities.