Land prices in Phnom Penh’s Dangkor district rose 35 percent from 2012 to last year due to the increasing number of development projects, enhanced infrastructure and geographical location, according to a report by Vtrust Appraisal, a property valuation company.
Vtrust Appraisal’s research report on the first-quarter of this year found that land located in the vicinity of Street 217, the main street in Dangkor, is currently priced between $400 and $800 per square metre, while land located relatively far from the street is priced as low as $10.
The most populous areas in the district are adjacent to Sangkat Steung Meanchey and Boeung Tumpun in Meanchey district.
Vtrust Appraisal’s director of research, Hoem Seiha, said the rapid growth of Phnom Penh’s central area is now spreading into many areas in Dangkor district, and that the fast-developing communes in the district include Dangkor, Prey Sar, and Choeung Ek.
Dangkor district has become a major residential area in Phnom Penh, with many development companies flocking there to construct houses and apartments.
Dith Channa, CEO of Lucky Realty Co Ltd, said Dangkor district is a collection of houses and factories, with housing projects proliferating. Many existing landowners are also dividing their land into smaller lots to accommodate the low-income housing market.
According to the report, as of the end of last year, Dangkor was the third-highest district in terms of the number of residential buildings in the capital, after Por Sen Chey and Sen Sok, with a total of 17,664 units.
It forecasts that another 3,000 residential units will be built in Dangkor this year.