The National Bank of Cambodia and the National Institute of Statistics of the Ministry of Planning have officially launched the Residential Property Price Index, which determines specific real estate and construction appraisals as a basis for banking institutions to avoid risks.

The launching ceremony of the Residential Property Price Index was held here on June 6 in the presence of H.E. Ms. Chea Serey, Assistant Governor and Director General of the National Bank of Cambodia, and H.E. Ms. Hang Lina, Director General of the National Institute of Statistics.

Speaking at the ceremony, H.E. Ms Chea Serey said that the introduction of the Residential Property Price Index will play an important role in monitoring, evaluating and formulating development policies as well as measures to minimise risks in order to maintain macroeconomic stability.

The Residential Property Price Index will monitor and check in a timely manner and avoid any economic crisis that may arise from the crisis of the real estate sector as some countries have experienced in the past, she added.

Source: Agency Kampuchea Press