As Cambodia moves forward with its economy and prepares for the ASEAN integreation, land prices in Phnom Penh are rising.
Phnom Penh land prices increased between 10 to 30 per cent depending on whether the area was an economically active location, a residential area or an industrial area, according to a recent study from World Trust Estate for the first quarter of 2015.
The following price estimates are based on square meters shown by the study for the first quarter of 2015.
Commercial land along the main road in Chomkar Mon district increased to $3500 -$8000 from $3500-$5500 last year, while the sub roads
increased to $2800-$4000 from $2500-$3000.
Key Real Estate map showing land price development in Phnom Penh over the last year. Photo supplied
Residential land along the main road in Chomkar Mon district increased to $3500 from $2500, while sub roads increased to $2500 from $700.
Commercial land along the main road in Tuol Kok district increased to $2500-$4500 from $2300-$3500, while sub-roads increased to $1300-$2500 from $1500-2600 and residential land prices increased to $1800-$2500 from $1500-$2300.
Commercial land prices along the main road in 7 Makara district increased to $3500-$6000 from $3000 -$3500, while sub roads increased to $2500-$3500 from $2300-$3000.
Residential land prices along the main road in 7 Makara district to $2500-$5500 from $2300-$5000, while sub roads increased to $1500-$2500 from $1300-$2500.
Commercial land prices along the main road in Sen Sok District increased to $700-$1400 from $600-$1400.
Residential land prices along the main road in Sen Sok District increased to $500-$600 from $450-$500.
Industrial land prices along the main road in Sen Sok District increased to $100-$1200 from $80-$110.
In Sitha, vice president of World Trust Estate, said, “The reason why Phnom Penh land prices saw an increase in the first quarter is because of several factors.
First, Cambodia maintains economic growth, political stabilty and people’s increasing income. Second, land demand from local and international investors keeps increasing.
Third, land for condo construction increases. Also, Cambodia is preparing to be integrated in ASEAN Economic Integration, so condo or residential demand will be increasing at that time.”