PHNOM PENH: The potential for the land market in the Phnom Penh area is growing, and land prices in the area around Phnom Penh, about 50 kilometers away, are higher and may continue to rise, providing an opportunity for investors to profit in the future.
Oknha Sam Sok Noeun, President of the Global Real Estate Association (GRA), recently stated with AMS that the price of land near Phnom Penh on major national roads, such as National Road 4, 50 meters from Phnom Penh, National Road No. 1, No. 2, No. 3, No. 5, and No. 6, is not less than $ 100 per square meter.
Oknha says that while the price of land on the inner road or next to a smaller road is not very high, it still has the same potential and demand in the future as Phnom Penh’s development spreads to the suburbs.
Mr. Dith Channa, CEO of Lucky Real Estate, also stated that despite the Covid-19 crisis, the land surrounding Phnom Penh still has potential and will become more valuable and high in line with the Royal Government’s plan to expand Phnom Penh’s area.
He stated that the area surrounding Phnom Penh is appealing and promising, but that development will vary depending on people’s proclivity to move to any location.
Ms. An Sothyta, General Director of PropNex Cambodia Real Estate Company, stated that the southern region has the most housing development due to the area’s extensive infrastructure development, including shopping malls and ring road construction, and the Techo International Airport project.
She believes that land prices near the city will not rise in the next few years because they are already high, but they will increase further in the future. For land that deviates slightly from Phnom Penh, jumps will be possible sooner.