Cambodia attracts more foreign property investors
A strong economy and interest from foreign investors seen fueling demand in Phnom Penh’s property investment market
With foreign investors eyeing a piece of Phnom Penh’s property pie, the Cambodian capital’s real-estate market has potential for growth this year, a survey by Agency for Real Estate Affairs (AREA) shows.
AREA president Sopon Pornchokchai said land prices in Phnom Penh range between Bt200,000 and Bt300,000 per square metre.
By the end of January, 90 new condominium and residential projects comprising 25,596 units were launched.
The total worth of the projects was US$2.09 billion (Bt68.7 billion).
Of these, 66 per cent or 16,823 units were sold at an average price of Bt2.6 million.
With Cambodia’s economy growing and investors showing interest in putting their money into the property market, the demand for residential projects in Phnom Penh has seen strong growth since 2005, Sopon said. Condominiums and commercial buildings have continued to attract the most investment.
Out of the 25,596 units constructed by the end of January, 22,985 were commercial buildings, 1,186 were condominiums, 547 were detached houses, 534 were double houses and 231 units were townhouses.
Most property developers are concentrating on the main city centre, where prices for residential properties start at Bt4.53 million.
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I always wondered what it would be like to love in Cambodia. I know the tourism there has been booming lately and I hope to give it a shot myself. Thanks for the info.
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Looks like a got the boot on the last comment. Thanks for the info on Cambodia and I look forward to going there myself actually in the fall of next year.
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For some reason, your last comment was in the spam bin. Sorry about that, I have un-spammed it
I get about 2,000 spam comments a week, which pretty much means I no longer go through looking for real comments. Problem solved now.
Thanks for the comments.
Great post. I didn’t know combodia is such an attractive real estate destination for international investors.
It seems Cambodia has been attracting a lot of interest recently. I found this article on the Cambodian property market. http://www.abc.net.au/news/stories/2008/01/30/2149642.htm
That article was written 18 months ago. In the interim we have a small credit crisis going on, so I would take that article with a pinch of salt