Land prices in Kandal province’s Takhmao city rose between 10 and 15 per cent in the first quarter compared to the same period of last year, said real estate experts.

Dith Channa, general manager of VMC Real Estate company said land prices in Takhmao city rose between 10 and 15 per cent in the first quarter of this year compared to the same period last year. This increase is because the area grows more attractive through the proposed construction of a new road from Boeung Tum Pun to National Road number 2, but the start of the new construction is not known yet. Having National Road 2 to the Vietnamese border and a large road to Koh Thom district bordering Vietnam is helping the city to be more attractive, he added.

He said “at present, this area is more crowded than before as it has banks, commercial buildings and some factories move there. Before, a lot of people are worried about traffic jam but after the Kbal Thnol overpass was built, travel from Phnom Penh to Takhmao city is no longer a problem”.

The development of flats or villas is not strong, but some small development projects in the area -- such as the project of Heng Akphivat company selling flats, and with some factories being built there too – have been progressing very well, said Dith Channa.

Cheng Kheng, CEO of CPL real estate company and president of Cambodian Valuers and Estate Agents Association, said buying and selling in Takhmao city this year increased noticeably compared to the same period last year. At present, the southern part of this city sees a lot of buying and selling due to the construction of the Prek Samrong bridge which is set to be completed soon. He added that there are a lot of banks and schools expanding their branches there which help make the business environment in Takhmao city better and better from day to day.

He maintained that “land prices in residential areas increased slightly but the land prices in commercial areas increased about 10 per cent compared to the same period of last year.”

However, Kim Heang, president of the Khmer Real Estate company, has an opposing view, saying that in late 2012 there were a lot of developments of boreys and the land prices increased largely, but in 2013 the development activities and buying and selling lands in the area did not have remarkable activities due to limited demand for housing and land.

He said “there are two or three boreys being developed, but with no significant activities due to limited demand, and most country people want to come to live in the city and it is rare that urban people want to live in the provinces.” He confirmed “Takhmao city is an area people go past and come past, not a residential area”.