overview office retail - cbre.com.kh€¦ · source: cbre research q1 2020. cbre cambodia | q1 2020...
TRANSCRIPT
OVERVIEW
CONDOMINIUM
LANDED PROPERTY
OFFICE
RETAIL
CBRE CAMBODIA | Q1 2020 MARKETVIEW 3
CONSTRUCTION INVESTMENT OVERVIEW
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1600
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2,000
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4,000
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6,000
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Q2
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16
Q3
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Q4
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Q1
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Q2
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Q3
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Q4
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Q1
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Q2
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Q3
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Q4
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Q1
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Q2
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Q3
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Q4
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YT F
eb
No. of Pro
jects
Million U
SD
Construction Investment Value No. of Projects
APPROVED INVESTMENT INTO CONSTRUCTION | Q2 2016 – FEBRUARY 2020
US $1.99 BILLION
OF INVESTMENT VALUE
FROM JAN – FEB 2020
728 PROJECTS
PROJECTS APPROVED
FROM JAN – FEB 2020
Source: Ministry of Land Management, Urban Planning and Construction
CBRE CAMBODIA | Q1 2020 MARKETVIEW 4
CONDOMINIUM
M A R K E T U P D A T E | Q 1 2 0 2 0
4
5
CONDOMINIUM SUPPLY
Q1 2020
SUPPLY GROWTH
15.8% GROWTH Q-O-Q
36.6% GROWTH
Q1 2019 – Q1 2020
25%
47%
28%
Affordable Mid-Range High-End
CONDOMINIUM SUPPLY COMPLETIONS NEW LAUNCHES
20,850
UNITS
8 NEW LAUNCHES
OVER 4,521 UNITS
INTRODUCED TO THE MARKET
OVER THE COURSE OF Q1 2020
5 COMPLETIONS
EQUIVALENT TO 2,843 UNITS
COMPLETED OVER THE COURSE
OF Q1 2020
+
5CBRE CAMBODIA | Q1 2020 MARKETVIEW
5
6Add a Footer 6
QUICK FACT!
OVER 3,800 UNITS
COMPLETED
OVER THE COURSE OF 2019
THE NUMBER OF UNITS COMPLETED
IN Q1 2020 ALONE EQUALS TO 74%
OF THE TOTAL UNITS COMPLETED
OVER THE COURSE OF 2019
OVER 2,800 UNITS
COMPLETED
OVER THE COURSE OF Q1 2020
6
CBRE CAMBODIA | Q1 2020 MARKETVIEW 7
THE MAJORITY OF NEW LAUNCHES ARE LOCATED IN SECONDARY DISTRICTS
KEY NEW CONDOMINIUM LAUNCHES
» Q1 2020 «
THE GARDEN RESIDENCY 2 PHNOM PENH GALAXY GARDEN PARC 21 RESIDENCE THE HEXA
CBRE CAMBODIA | Q1 2020 MARKETVIEW 8
THE MAJORITY OF NEW LAUNCHES ARE LOCATED IN SECONDARY DISTRICTS
KEY NEW CONDOMINIUM LAUNCHES
» Q1 2020 «
AKJ BRIGHT PEARL GRAND CENTRALURBAN VILLAGE II – TOWER G GOLDEN WORLD INTERNATIONAL
9
Developer adapting to social-distancing
CBRE CAMBODIA | Q1 2020 MARKETVIEW 10
CONDOMINIUM SALE PRICES
Q-O-Q CHANGES
0.53% DROP
HIGH-END
SALE PRICE TRENDS | Q2 2016 –Q1 2020
$1,250
$1,750
$2,250
$2,750
$3,250
$3,750
Q1
2016
Q2
2016
Q3
2016
Q4
2016
Q1
2017
Q2
2017
Q3
2017
Q4
2017
Q1
2018
Q2
2018
Q3
2018
Q4
2018
Q1
2019
Q2
2019
Q3
2019
Q4
2019
Q1
2020
Affordable Mid-Range High-End
1.39% DROP
MID-RANGE
0.32% UPLIFT
AFFORDABLE
Source: CBRE Research Q1 2020
CBRE CAMBODIA | Q1 2020 MARKETVIEW 11
CONDOMINIUM RENTS
Q-O-Q CHANGES
0.4% DROP
HIGH-END
$14.21/SQM
RENTS TRENDS
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$0
$4
$8
$12
$16
$20
3BR 2BR 1BR Studio
$0
$5
$10
$15
$20
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
Studio 1BR 2BR 3BR
Rental Range Per Month (High-End)
Average Rent Per Sqm
High-End Mid-Range
Rental Range Per Month (Mid-Range)
0.6% DROP
MID-RANGE
$11.79/SQM
Source: CBRE Research Q1 2020
CBRE CAMBODIA | Q1 2020 MARKETVIEW 12
LANDED PROPERTY
(BOREY)
M A R K E T U P D A T E | Q 1 2 0 2 0
12
CBRE CAMBODIA | Q1 2020 MARKETVIEW 13
Rising Quoting Prices Across 5 Subsectors
5 Projects LaunchedBy 3 Developers
3 Projects Completed In 2 Districts
LANDED PROPERTY Q1 2020 OVERVIEW
13
CBRE CAMBODIA | Q1 2020 MARKETVIEW 14
Sen Sok remains the leading district
of landed property supply.
Source: CBRE Research, Q1 2020
3 Projects Completed
in Mean Chey & Chbar Ampov District.
0
10
20
30
40
50
60
Num
ber
of
Pro
jects
Future Existing
LANDED PROPERTY SUPPLY
CBRE CAMBODIA | Q1 2020 MARKETVIEW 15
ANY IMPACT FROM COVID-19?
31%
21%
21%
10%
6%
6%5%
FUTURE SUPPLY BY
LOCATION
Por Sen Chey Chbar Ampov Dangkor Chroy Changvar
Russey Keo Mean Chey Sen Sok
14 new launches
between Q3 2019 and Q1 2020
Por Sen Chey is showing increasing
potential as the next location for landed
property development.
Strong confidence
from developers
Source: CBRE Research, Q1 2020
CBRE CAMBODIA | Q1 2020 MARKETVIEW 16
National Road 1,
Chbar Ampov District
Borey Peng Huoth
Street 50M,
Dangkao District
Chip Mong Land
National Road 3,
Por Sen Chey
Borey Chea Ry
SOME NEW LAUNCHES IN Q1 2020
CBRE CAMBODIA | Q1 2020 MARKETVIEW 17
LANDED PROPERTY QUOTING PRICES (Q3 2019 vs Q1 2020)
$103 $127
$225$272
$899
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
Flat Linkhouse Shophouse Twin Villa Villa*
Thousand US$
Price Range Average Price
Source: CBRE Research, Q1 2020
2.1%
2.2%
3.9%
2.8%
4.3%Villa*
Twin Villa
Shophouse
Link-house
Flat
OFFICE
18
M A R K E T U P D A T E | Q 1 2 0 2 0
NO NEW completions or launches
19
Source: CBRE Research, Q1 2020
Expecting new supply of
89,000 SQM in 2020
Occupancy rate eased by less than 1%
estimated to keep
descending over the
course of 2020
OCCUPANCY
RATE
CENTRALLY-OWNED OFFICE
SUPPLY & OCCUPANCY
CBRE CAMBODIA | Q1 2020 MARKETVIEW
40%
50%
60%
70%
80%
90%
100%
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
F
Grade C Grade B Grade A Occupancy Rate
SQM (NLA)
20
Source: CBRE Research, Q1 2020
*Exclusive of service charge
5.00
10.00
15.00
20.00
25.00
30.00
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
Q1
20
20
Grade-B (CBD) Grade-B (NCBD)
Grade-C (CBD) Grade-C (NCBD)
RENTS
currently STABLE
NEGOTIATION
WIDENING
SHORT-TERM
DISCOUNTS
OFFERED
QUOTING
RENTS
to adjust in later quarters2020
CENTRALLY-OWNED OFFICE
QUOTING RENTS
NO NEW strata-title completions
21
of 24,800sqm
Source: CBRE Research, Q1 2020
-
100,000
200,000
300,000
400,000
500,000
20
18
20
19
20
20
F
20
21
F
20
22
F
Grade B Grade A
SQM (NLA)
1 LAUNCH
2
2
0
0
FORECAST
86,000SQM to join supply
Increasing pressure on RENTS
CBRE CAMBODIA | Q1 2020 MARKETVIEW
STRATA-TITLE OFFICE
SUPPLY
22
RETAIL
M A R K E T U P D A T E | Q 1 2 0 2 0
2 new completions
23
New 6,903 SQM of community malls
Source: CBRE Research, Q1 2020
0
100,000
200,000
300,000
400,000
500,000
600,000
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
20
20
F
Shopping Mall Shopping Center Community Mall Retail Podium
SQM (NLA)
TL SKY MALL SAMAI SQUARE
2.1% to total stock
16% to community mall stock
2020 supply forecast: 101,477 SQM
CBRE CAMBODIA | Q1 2020 MARKETVIEW
RETAIL
SUPPLY
24
RENTS SHARP DROP
BRAND
EXPANSIONSHOLD
COMMUNITY MALL RENTS
TURN-OVER SHARE
gains popularitySource: CBRE Research, Q1 2020
* Prime quoting rents for ground and 1st floor space, exclusive of service charge
$32.25
$26.69
$20.93
$26.50
$10.00
$20.00
$30.00
$40.00
$50.00
$60.00
Prime Shopping
Mall
Prime Retail
Podium
Community Mall Prime High
Street
9.2%
RETAIL PODIUM RENTS
10.5%
RETAIL
QUOTING RENTS
Vacancy rate fell to
25
Vacancy rate expected to pick up
Source: CBRE Research, Q1 2020
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
Q1
20
20
10.1%
0.5% q-o-q reduction
Before coming back somewhat when
consumer and retailer confidence recovers
CBRE CAMBODIA | Q1 2020 MARKETVIEW
2
2
0
0
FORECAST
RETAIL
VACANCY RATE
CBRE CAMBODIA | Q1 2020 MARKETVIEW 27
THANK YOU!
© 2020 Advantage Property Services Co., Ltd, trading as CBRE Cambodia, part of the CBRE affiliate network. All materials presented in this report, unless specifically indicated otherwise, is under copyright and proprietary to CBRE. Information contained herein, includingprojections, has been obtained from materials and sources believed to be reliable at the date of publication. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. Readers are responsible for independentlyassessing the relevance, accuracy, completeness and currency of the information of this publication. This report is presented for information purposes only, exclusively for CBRE clients and professionals, and is not to be used or considered as an offer or the solicitation of an offerto sell or buy or subscribe for securities or other financial instruments. All rights to the material are reserved and none of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party without prior expresswritten permission of CBRE. Any unauthorized publication or redistribution of CBRE research reports is prohibited. CBRE will not be liable for any loss, damage, cost or expense incurred or arising by reason of any person using or relying on information in this publication.
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M: +855 89 777 308
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Senior Analyst
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Analyst
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Analyst
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