- Last Updated on 28 February 2013
- By Siv Meng
Property experts said the land prices in Kampot province have been “stable” in early 2013 despite trading more actively than last year.
Nuon Rithy, managing director at the Bonna Realty Group, said the trading of land in Kampot province is quiet and nothing changes much because there are no nice beaches for attracting tourists.
“If there are many tourists visiting Kampot province, there will be much development like building and hotel construction, and then the property prices may rise”, he said. “The province is an eco-tourist area and has the special economic zone to help spur industry, but the special economic zone is not yet under way.”
According to Noun Rithy, the land price in Kampot is between $150 and $250 for the best areas, and the price for residential areas is from $40 to $60.
The prices might drop to $10 to $20 a square metre, if it is the land outside the town.
Kim Heang, a general director of Khmer Real Estate Company, agreed, saying that the rising or falling prices depends on the quality of the land bought by customers.
The prices in Kampot have not risen, as there are no reasons for increasing the land price, because there are no interesting places, and not many people living there. He added that the province has also two special economic zones, but they have not yet been opened, and are not attracting investors.
Khoy Khun Huo, Kampot’s governor, said the land price in the province has likely not changed, but the land trading rose this year from a year earlier. He said that it has not yet decreased, as people sell the land with few buyers, and the market is stagnant.
There has not been any company entering Kampot to develop the area so far, but there is house construction in the downtown area.
He said, “The land price near the beach or in town center is about $300 a square metre and $1 or below $1 for land plantation.”
However, Dith Channa, general manager of VMC Real Estate Cambodia, has the opposite opinion, saying this year Kampot land prices rose by around 10 to 15 per cent, with the province having potential tourism and depending on the neighbouring province of Kep.
Kampot has more resorts like Bokor Mountain and Teuk Chour waterfall that are a potential tourist attractions. Land prices in these areas are about $500 to $600 a square metre, about $20 to $30 in the suburbs and $1 for land plantations.
He claimed, “Currently, for those people who can afford it, they have been starting to invest in Kampot as they see increasingly the constructions of guesthouses and hotels.”