Kampong Cham property activity still quiet
Kampong Cham property activity still quiet
As one of Cambodia’s most populated provinces, Kampong Cham was once full of potential when it came to real estate.
However, Po Eav Kong, general manager of Asia Real Estate, said property price transactions had remained relatively flat in the urbanised areas of the province, with only a slight 5 to 10 per cent rise experienced in the first quarter of 2016 compared to the same time last year.
He added that land prices in trading areas and agrarian land had not shifted much because agricultural outputs produced in the areas remained inflated in both domestic and international markets.
Land in the city centre of the province ranges from $1,500 to $2,000 per square meter, while in residential areas land is much lower at $200 to $300 a square metre.
Kom Monyroth, head of consultant board of Daily Reality Group echoed Eav Kong’s statements. He said property transaction activity was relatively flat compared to provinces which are experiencing increased development, such as Sihanoukville.
“Development projects remain low right now, which is why not many development companies are attracted to opening offices here,” he said.
Monyroth added that the average land price for commercial areas in Kampong Cham ranged from $500 to $1,000 per square metre, which was unlikely to increase in the near future.
But Lun Lim Thai, Governor of Kampong Cham, said the property situation in the province had experienced positive momentum of late. He said the provincial authority was preparing to improve the city’s infrastructure, with plans in place to turn it into a garden city by planting more flowers like cherry blossoms and tulips.
“The provincial authority wants to attract more tourists into this province following the river festival which is held every March. The province is reconstructing the Nokor Reach Temple to add a memorial park station and wedding garden,” he said.
