Battambang land prices have increased this year, according to a local real estate firm.
Sorn Seap, general manager of Key Real Estate, said land prices in Battambang city, capital of the province of the same name, have increased by around 12 per cent this year compared to the first half of last year.
“The increase in land prices in the town is due to people’s improved incomes, and also the province’s agricultural potential, which has been attracting investors,” he said. “The province is close to the Thai border, which facilitates agricultural exports.”
A study carried out by the company on land prices in Battambang divided the city into nine zones.
According to the study, land prices in Zone A, the city centre along National Roads 1, 2 and 3, Phsar Nath market, Boeung Chhok market and main road ranged from $1,200 $1,800 per square metre and from $800 to $1,100 on the sub-roads. In Zone B, from the Ta Dambang Kronhong roundabout to Stueng Sang Kae River, prices ranged from $300 to $700 along the main road and from $150 to $200 on the sub-roads.
In Zone C, Phsar Ler market, along the main road, prices ranged from $200 to $400 per square metre and from $120 to $400 on the sub-roads. In Zone D, in the north of town, along National Road 5, near the provincial hospital, prices ranged from $1,200 to $1,800 and from $60 to $250 on the sub-roads. In Zone E, around Phsar Thmey, along the main road, prices ranged from $700 to $1,100 and from $100 to $200 on the sub-roads. In Zone F, from Neth Yong High School to the southern area of Phsar Thmey market, along the main road, prices ranged from $120 to $160 and from $30 to $70 on the sub-roads.
In Zone G on the outskirts of town, along Road 154 and the main road, prices ranged from $100 to $600 per square metre and sub-roads were priced from $30 to $60. In Zone H, near Battambang Airport and along the main road prices ranged from $200 to $1,000 and from $80 to $150 on the sub-roads. In Zone I, northwest of Pras Noreay roundabout, prices ranged from $350 to $600 and from $30 to $100 per square metre.
“I think that Battambang land prices have potential. They currently rank No.4, after Phnom Penh, Siem Reap and Sihanoukville, but the economy ranks No.2 after Phnom Penh,” Seak said.
With improved economic growth, many markets are popping up in Battambang province in places such as Psar Nath, Boeung Chhok, Borey Mall, Psar Ler, Psar Thmey, while a major shopping centre will open next month.
Preparations for integration with the ASEAN Economic Zone are another catalyst that is expected to boost Battambang land prices, as investors look to rice cultivation and milling in what is the Kingdom’s rice bowl.
According to government statistics, Cambodia exported 378,000 tonnes of milled rice in 2013 compared to 205,000 tonnes in 2012.