Siem Reap, Sihanoukville enjoy land price boost
Siem Reap, Sihanoukville enjoy land price boost
Land prices across a number of provinces in Cambodia are enjoying a good run, but values in Battambang have remained stagnant, according to local real estate experts.
Cheng Kheng, head of Hutton CPL’s advisory board, told Post Property that Siem Reap and Sihanoukville are the two provinces with the most economic potential at the moment and are thus witnessing a surge in land values.
With news about a new airport in Siem Reap and foreign investment pouring into the coastal town of Sihanoukville, Kheng said investors were snapping up “as much land as possible”.
“The land prices in Siem Reap and Sihanoukville are rising as a result of the bustling investment activity,” he said.
According to Kheng’s estimate, land values in the more desirable areas of Siem Reap are selling for $2,000 to $2,500 per square metre while land along the smaller roads of the inner city were selling for $100 to $200 per square metre.
As for land in the favourable trade zones of Sihanoukville, they’re estimated to sell for $1,200-$2,000 per metre square.
Sorn Seap, the CEO of Key Real Estate, said that in general, sellers continue to ask for a high price for their land due.
“The area that was cut from the management zone of the APSARA authority in Siem Reap will become a residential area and a lively commercial zone in the near future, so prices in that vicinity are on the rise,” he said.
He added, “As for the land value in Battambang, there has been no excitement whatsoever, since this area is not in demand from foreign investors.”
An investor in Battambang city, who sells segmented land, Pour Puy said land prices in Battambang have remained stagnant this year.
Puy said that land in commercial zones in Battambang city is being priced from $1,000 to $1,500 per square metre while land along smaller roads was going for $100 to $200 per square metre.
He continued, “The demand for land in Battambang city are mostly from the locals; there are no foreign investors clamoring for them.”
