Logo of Phnom Penh Post newspaper Phnom Penh Post - Prices climb upward along National Road 1

Prices climb upward along National Road 1

The yet-to-be-completed bridge to the town of Neak Leung
The yet-to-be-completed bridge to the town of Neak Leung. Phnom Penh Post

Prices climb upward along National Road 1

Property prices along National Road 1, the dusty highway that connects Phnom Penh to the markets of Ho Chi Minh City through the border town of Bavet, increased by an average of 30 per cent in 2014, said Van Chanthorn, director of Town City Real Estate.

The reasons behind the increase, Chanthorn said, was the large number of people moving to the area, increasing residential development and improving infrastructure.

Land that is still close to the capital’s central districts, such as the stretch from Monivong Bridge at the end of Norodom Boulevard to the Tiger Beer brewery in Chbar Ampov district, now sells for $1,200 to $1,500 per square metre.

From the brewery to Prek Eng commune in the riverside Ken Svay district, land goes for between $700 to $800 per square metre, while the mostly agricultural land onwards from Prek Eng ranges from $150 to $200 per square metre.

“National Road 1 is ranked second for activity in property transactions, compared to National Road 6 [from Phnom Penh to Siem Reap] as the prices there have jumped even more strongly,” Chanthorn said. “I think that both transactions and prices will continue to increase strongly in 2015, as ASEAN economic integration is coming soon and investors can still gain profit from the area because land prices have not reached their peak.”

National Road 1 remains an important thoroughfare for the booming trade between Cambodia and Vietnam as it leads to Ho Chi Minh City.

It also is part of the Asian Highway Network, an international project to improve and link up key roads across Asia.

Property transactions along the highway rose on the back of healthy economic growth in 2014, said Dith Channa, general manager of VMC Real Estate Cambodia.

The Prek Somrong bridge in Takhmao, along with the yet-to-be completed two kilometre-long bridge at the ferry town of Neak Loeung, also played a part in boosting trade and property prices on the highway, Channa added.

Construction of a new road from Phnom Penh to Takhmao
Construction of a new road from Phnom Penh to Takhmao. Hong Menea

Property prices from Monivong Bridge to the Bayon TV station by Boeung Snor lake are now about $800 to $1,000 per square metre.

Prices from the TV station to Kokir commune about 20 kilometres east of Phnom Penh range from $200 to $500 per square metre, while anything after Kokir usually goes for under $50 per square metre, Channa said.

“Prices will increase about 30 per cent along National Road 1 in 2015 due to the road expansion, Neak Loeung bridge and Cambodian political stability and economic growth,” Chnana predicted.

“I see that 2015 is a golden year to do business, as many projects and developments are planned to be set up along Road 1.”

Sorn Seap, director of Key Real Estate, said property prices along National Road 1 went up in 2014 because of the expected completion of the Neak Loeung bridge in April 2015.

The bridge aims to increase Vietnam-Cambodia trade by connecting the provinces of Kandal and Prey Veng, meaning that goods would no longer have to be transported by ferry across the muddy Mekong waters.

Yet parts of National Road 1 itself remain heavily underdeveloped due to damage from the civil war and ongoing neglect.

Since 2005, the Japanese government has provided assistance to help develop National Road 1 from Phnom Penh to Neak Loeung, along with the Neak Loeung bridge itself.

A Japanese development official recently announced that the last 4.5 kilometres of road construction will begin in April if the tender process for the $2 million project passes. through.


  • Ministry orders all schools, public and private, to close for SEA Games

    From April 20 to May 18, all public and private educational institutions will be closed to maintain order and support Cambodia's hosting of the 32nd SEA Games and 12th ASEAN Para Games, said a directive from the Ministry of Education, Youth and Sport. Cambodia will host the

  • Almost 9K tourists see equinox sunrise at Angkor Wat

    Nearly 9,000 visitors – including 2,226 international tourists – gathered at Angkor Wat on March 21 to view the spring equinox sunrise, according to a senior official of the Siem Reap provinical tourism department. Ngov Seng Kak, director of the department, said a total of 8,726 people visited Angkor Wat to

  • Angkor Beer strengthens national pride with golden new look and fresher taste

    Angkor Beer – the "Gold of Angkor" – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one

  • Water supply authority assures public shortages over early ‘24

    The Phnom Penh Water Supply Authority (PPWSA) asked for understanding from Phnom Penh residents in some communes where water pressure is weak. They assured residents that all supply issues will be resolved by early 2024, but have suggested that residents use water sparingly in the meantime.

  • Khmer ballet documentary debuts April 1

    A new documentary, The Perfect Motion, or Tep Hattha in Khmer, will premiere to the public on April 1. The documentary film follows two intertwined storylines: the creation of a show called Metamorphosis by the late Princess Norodom Buppha Devi (her very last production) and the

  • EU’s Sokha resolution ‘a sovereign rights breach’

    The National Assembly (NA) said the European Parliament (EP) did not respect the Kingdom’s independence and sovereignty when it passed a resolution strongly critical of the recent conviction and sentencing of former opposition leader Kem Sokha for “treason”. On March 16, the EP issued a