Weakened consumer sentiment has hit retail, tourism and hospitality sectors by the COVID-19 outbreak. This is primarily due to contracted operating periods and a broader slowdown of regional traffic. Experts predict the situation to be largely under control mid- 2020 and the market recovery later in the year.
The suspension of regional and international travel has directly impacted on major shopping centres, including Phnom Penh. This has led to many markets to step up online shopping platforms, which is likely to lead to long-term effects beyond 2021 on markets and eventually real estate.
The market is in flux and likely to change irrevocably due to changed consumer habits. How this will affect real estate in any significant way is yet to be seen, but aspects of building design and transport are likely to change as a result.
A BBC report by Simon Mair (31/03/2020)