Land and house prices in Battambang town have increased slightly this year, experts say, even though the province has great potential in terms of agriculture and development.
The estate prices in Battambang this year seem little changed and there is not a great deal of potential except in the agriculture field, Po Eav Kong, managing director of Asia Real Estate said, adding that, despite this, buying and selling have increased more than last year, leading to the land prices in the town increasing from five to 10 per cent.
“Compared with other provinces, Battambang is a province that has the most construction of boreys and supermarkets, but the movement of buying and selling real estate in this province is basically in limbo. In Battambang there are boreys and supermarket constructions of Phou Puy, the president of Battambang Rice Millers Association, and Lim Chhiv Ho, the managing director of Attwood Company as well. But so far the supermarket and borey plans have not completed yet,” he said.
The land prices of the best locations are around $1,500 per metre square and good residtial land between $200 and $400 per metre square, while flat prices in the best areas are between $200,000 and $250,000, Po Eav Kong said.
Land and residence prices in Battambang town have not increased dramatically but are rising gradually, he said.
The prices have increased from only five to ten per cent due to the building of many guesthouses, warehouses, residences and milling rice plants, Dith Channa, general manager of VMC Real Estate said, adding that Battambang is a big province with many people in the town.
Dith Channa says the land prices in the best locations in the town are between $700 and $800, and the residential land is between $100 and $200, while agricultural land is between $1 and $1.5 per square metre, and the residence price in the commercial areas is only $70,000 to $80,000.
This year there are no new borey construction plans in the town because the existing plans have not been completed, Em Sokhom, Battambang town governor said.
Until now there have been no plans for the new borey constructions, because the existing ones have not finished yet and land and residence prices have increased slightly.
However Prach Chan, Battambang province governor said agricultural land in the province is between $3,000 to $4,000 in the remote areas, but agricultural land along the national road is between $10,000 to $20,000 per hectare.
Battambang town has a population of 140,000 and 10 communes, he said.