Search form

Time to buy land, say experts

Time to buy land, say experts

Land is advertised for sale in Chroy Changvar commune in Phnom Penh’s Russey Keo district earlier this year.

The current situation is a golden opportunity for those who want to buy land at a low cost and sell it for a high price
in the future

The low cost of residential land currently available in the Kingdom provides a prime investment opportunity for those looking to make a profit, according industry experts.

The number of plots put on the market, especially in more rural areas, has continued to increase since land prices plummeted amid the economic recession, VMC Real Estate General Manager Dit Channa said.

“The current situation is a golden opportunity for those who want to buy land at a low cost and sell it for a high price in the future, and especially for those involved in residential construction.”
Compared to land prices between 2005 and 2007, the current costs are extremely cheap, he added.

Data released by VMC Real Estate shows prices in suburban areas such as Phnom Penh Thmey, Northbridge and Boeung Tompon, hit around US$200 to $250 per square metre for residential land in 2006, however, similar plots are now selling for around $100 to $150.  “Economic growth in the second half of the year, social stability and financial support from the banking sector will all contribute towards the recovery of the real estate sector,” according to Dit Channa.

He added that in 2 to 3 years, people will struggle buying land at the current prices.

Other insiders also believe prices will recover in the coming couple of years.

“At present, land and house values are very low, but I think these prices will be hard to find, even in a years time,” said Lay Bun Hak, a contractor for selling apartments, based in Boeung Tompon and Cham Pou Voan.

Phnom Penh Thmey based construction material wholesaler Sok Sorith Sak expressed his eagerness to buy land while prices remain at a standstill.

“I am looking for a small piece of land on which to construct a villa, but I want to purchase it this year, as many believe land prices are recovering.”

Previous figures from Cambodia’s National Valuers Association placed average prices for residential land in Phnom Penh at an estimated $1,600 per square metre.


  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all