Land prices along National Road 4 still have the potential to rise, despite the relocation of a number of factories to National Road 3, property experts say.
Bou Eavkong, sales manager of Asia Real Estate Co, said that land prices along National Road 4 differ depending on the location and size.
The price of land goes from $100 to $300 per square metre from Chaom Chao cycle to the first car toll if the land is more then 5,000 square metres, but it goes from $200 to $500 per square metre for small parcels of land for villa construction or apartment buildings.
He added that it is $50 to $60 per square metre from the car toll to the Thnal Toteng area and the price is lower if it is further out.
“The growth is 10 to 15 per cent for land prices along National Road 4 this year compared to the same period last year, because this road still has more potential than the National Road 3.” he told the Post.
Bou Eavkong said that National Road 3 will be able to compete with National Road 4 in the future because Kampot province, where it terminates, is planning to build a sea port. But for the moment, National Road 3 is not very attractive if compared to National Road 4.
Dith Channa, general manager of VMC Real Estate Cambodia, said that land prices are not high, with growth around 5 to 10 per cent this year, because the lands is already expensive: on the other hand, there not many people living along the road due to the factories and enterprises, and there is a shortage of workers, so many factories or enterprises will not be built and some factories were moved to National Road 3 because the land there is cheaper and easier for workers to get to.
He said it goes from $30 to $100 per square metre along National Road 4 from Chaom Chao cycle to the car toll, but it might be $15 to $25 per square metre from the car toll onwards, and $5 to $10 further out.
Sung Bonna, director of Bonna Realty Group and president of the Cambodian Valuers and Estate Agents Association, said land prices along National Road 4 are steady, after the economic and financial crisis, but the activities of sales and purchases are increasing.
“This road is a gate of the economy, tourism, the agriculture sector and public and private development, so it has great potential,” he said.
To contact the reporter on this story: Siv Meng at [email protected]