PHNOM PENH: According to real estate experts, real estate transactions in the Aray Ksat area, particularly land, have increased since the government announced plans to build a bridge into that area. Land prices in the area have not changed significantly sign an excellent for future profitable investment.
According to Oknha Sam Sok Noeun, President of the Global Real Estate Association (GRA), since the announcement of the construction of the bridge from the Old Market to Chroy Changva to the Aray Ksat area, the purchase and sale of land increased, but the price has not. Land prices have not risen dramatically, as they have in the past.
“The trading operation shook me,” he said. It means that land in this area is valuable, but there are no buyers. “Right now, land prices in the area are stable, and there are buyers.” However, he stated that some people believe that planning to build a bridge and increasing the selling price makes it impossible to sell, but he can sell if he sells at the original price.
Furthermore, the tycoon stated that the Aray Ksat area requires the necessary bridges for the local economy. With this in mind, the Aray Ksat area is one in which we should invest because the price of land in this area is still lower than in others around Phnom Penh, and there have been more transactions in recent times.
Although the Covid-19 situation in Cambodia is under control, the epidemic crisis is not, so the influx of foreign investors, whether in Phnom Penh or Aray Ksat, is still limited, and land prices in the area are stabilizing.
The Aray Ksat area will be as developed as the Chroy Changvar area if the influx of foreign investors continues as it did before the Covid-19 crisis, and if plans to build another bridge are implemented.
Mr. Sam Sok Noeun claims that the price of land in the Aray Ksat area has not changed significantly. If we talk about two rivers, land in the Aray Ksat costs between $ 1,000 and $ 1,500 per square meter, or up to $ 2,000 per square meter if it is next to the river and beyond the river. Prices range from $500 to $1,000 per square meter and can be lower depending on location and actual land conditions.