Logo of Phnom Penh Post newspaper Phnom Penh Post - Phnom Penh’s land prices rise, led by fast-developing Sen Sok district

Phnom Penh’s land prices rise, led by fast-developing Sen Sok district

Content image - Phnom Penh Post
Aeon Mall Sen Sok City sits in Sen Sok district’s Phnom Penh Thmey commune in the Kingdom’s capital. Hong Menea

Phnom Penh’s land prices rise, led by fast-developing Sen Sok district

Land prices in Phnom Penh continued to show signs of upward movement at the beginning of this year, led by Sen Sok district, while Chroy Changvar district remains stagnant, according to a real estate developer’s report.

Key Real Estate’s land price research report said that with a 17.1 per cent growth rate from the beginning of the year, Sen Sok district had the fastest growing land prices early this year, followed by Meanchey district, with a growth rate of 16 per cent, Dangkor district (12.1 per cent), Prek Pnov (10.1 per cent) and Russey Keo district (9.6 per cent).

Chbar Ampov district land prices grew 9.3 per cent, Tuol Kork 6.3 per cent, Por Sen Chey 5.5 per cent, and Prampi Makara 2.9 per cent. Daun Penh prices increased by 1.7 per cent and Chamkarmon one per cent. However, Chroy Changvar saw no increase.

Sen Sok ‘very attractive’

Key Real Estate Co Ltd director Sorn Seap said the recovery in Sen Sok district land prices is due to current large projects such as shopping malls, commercial centres, condominiums, offices and homes.

Sen Sok district is evolving into a popular place for residential living and doing business for Cambodians of all income levels.

“The price of land in Sen Sok district will continue to increase. It is currently very attractive there, especially with its infrastructure, large roads and vast amounts of vacant land,” he said.

According to the report, early this year residential land prices in Sen Sok district cost between $350 and $1,400 per sqm, while commercial areas ranged from $800 to $2,900.

Range in prices

As the report shows that Chroy Changvar district land prices have not increased, residential land prices remain at a range of between $50 to $1,400 per sqm, and commercial areas between $550 and $2,250.

Seap said Tuol Kork district will remain the hotbed of the land price boom out of the capital’s four central districts.

Residential land prices in the capital’s centre range from $2,100 to $4,500 per sqm, and commercial areas from $3,500 to $9,000, according to the report.

Cambodian Valuers and Estate Agents Association vice-president Ping Serey said an overall review of the status of the capital’s land prices shows that fastest change – in both real estate and population – can be seen in Sen Sok district.

The arrival of major supermarkets will cause larger projects to emerge in the near future.

“The price of land was really high last year. I think Sen Sok district will continue to climb the highest in the capital this year,” Serey said.

MOST VIEWED

  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • New int’l airport nearly half complete as travel industry returns to life

    Construction of a new airport that is slated to serve the capital has passed the 43 per cent completion mark, raising prospects for a proper recovery in the civil aviation and tourism sectors as international travellers return to the Kingdom in increasingly large numbers. The figure

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,