Logo of Phnom Penh Post newspaper Phnom Penh Post - Estate estimate: Land prices continue value slide

Estate estimate: Land prices continue value slide

Estate estimate: Land prices continue value slide

Estate estimate
LAND prices in the capital are continuing to fall quarter on quarter, according to Cambodia’s National Valuers Association.

The value of commercial and residential land prices dropped 2 to 3 percent in the third quarter this year, compared with the previous quarter.

Commercial land in Phnom Penh was estimated to be worth US$2,800 per square metre in the third quarter, down from $2,850 compared to second quarter this year. Residential land was estimated at $1,600 per square metre, down from $1,650 in the second quarter.

National Valuers Association President Sung Bonna said that there were more land transactions in the sector this year, but added that local and foreign investors alike remained tentative.

Seng Sopheak, valuation manager of Cambodia Properties Ltd, said land and housing prices had stabilised somewhat, but added that commercial and residential trade had increased by 5 to 10 percent over the first nine months. “A lot of banks have changed attitudes to providing property loans with low interest rates,” he said.

But David Simister, chairman of CB Richard Ellis Indochina, said yesterday the market had been characterised by a drop in transactions.

MOST VIEWED

  • US to ramp up sanctions after ‘flawed’ national polls

    At a press conference on Wednesday, the US State Department announced that it would expand visa sanctions on the Cambodian officials and individuals it deems responsible for “undermining democracy” in Cambodia. At the briefing, spokesperson Heather Nauert reiterated that the department regarded the July 29 elections

  • PM's Bodyguard commander hits back at US

    The commander of Prime Minister Hun Sen’s Bodyguard Unit (BGU) Hing Bun Heang on Sunday dismissed a short video clip that went viral on social media in which he says he is preparing for a war with the United States over its aggressiveness towards

  • Final poll results confirm first single-party Assembly

    IN an unprecedented situation in Cambodian politics, the official results of the July 29 national elections have declared that the Cambodian People’s Party (CPP) will take all 125 seats in the National Assembly on the back of it receiving 76 per cent of the votes. The National

  • Chinese influence to sweep Kingdom?

    Growing Cambodia-China ties have seen the latter’s influence sweep across the Kingdom through increased investments and tourism. The Asian giant has become the leading source of foreign funds in Cambodia, fuelling the construction sector with huge casino and hotel projects. Much of the growth