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Land prices in Phnom Penh’s prime location soared as high as 7,000 U.S. dollars
Source: Cambodian Chinese Daily 2015-01-20
According to a survey report by a well-known real estate company in Cambodia, the real estate prices in the Wanjinggang area of Sangyuan District, the prime location of Phnom Penh, are the most expensive. Land prices in Boeung Keng Kang 1 (BKK1) are the most expensive, ranging from US$5,000 to US$7,000/sqm, while roads are priced at US$3,500 to US$5,000/sqm.
Land prices along main roads in Boeung Keng Kong 2 (BKK2) range from US$3,500 to US$4,200/sqm, while those on small roads range from US$1,800 to US$2,700/sqm.
In Boeung Keng Kang 3 sub-district (BKK3), the land price along the main road is from 3,500 to 5,000 US dollars per square meter, and the land price on the side road is from 1,800 to 2,700 US dollars per square meter.
The most expensive land prices in Daun Bien District are located in the "Four Arms Bay" subdivision and the "New Market" subdivision, that is, along the
Land prices in Dalu range from $4,000 to $8,500/square meter and from $4,500 to $7,000/square meter, respectively.
The price of land along the main road in Manmenlong sub-district and Uyasi sub-district of Makara district is from 4,000 to 5,500 US dollars per square meter, and in Wampol sub-district, it is from 3,800 to 5,000 US dollars per square meter
The Sharibo area is the most expensive part of the land in Toul Kork, that is, the land price of the Sharibo 1 sub-district and the Saribo 2 sub-district ranges from 2,200 to 3,500 US dollars, while the land price of the Sharibo 3 sub-district is 2,000 to 3,500 US dollars per square meter .
For the land price in the suburb of Leixi, the price of the Shuijinghua district is the most ideal, that is, the land price along the main road is from 1,500 to 2,000 US dollars per square meter, while the land price along the side street is from 550 to 800 US dollars per square meter. Real estate development projects can be seen everywhere in Phnom Penh, which is under development, including apartments, high-rise buildings and residential housing, showing a thriving development scene, which is the reason why Phnom Penh remains high.
| BKK1 |
5,000~7,000 |
USD/M2 |
| BKK2 |
3,500~4,200 |
USD/M2 |
| Boeung Keng Kang 3 District (BKK3) |
3,500~5,000 |
USD/M2 |
| Four Arms Bay Sub-district, Daunbian District |
4,000~8,000 |
USD/M2 |
| Four Arms Bay Sub-district, Daunbian District |
4,500~7,000 |
USD/M2 |
| New market area in Daunbian District |
4,000~5,500 |
USD/M2 |
| Manmenlong Subdistrict, Makala District |
4,000~5.500 |
USD/M2 |
| Wampol Subdistrict, Makala District |
3,800~5,000 |
USD/M2 |
| Toul Kork District Salippo 1 Division |
2,200~3,500 |
USD/M2 |
| Toul Kork District Saripok 2 Subdivision |
2,200~3,500 |
USD/M2 |
| Toul Kork District Saripaw 3 Subdistrict |
2,000~3.500 |
USD/M2 |
| Leixi Suburb |
1,500~2,000 |
USD/M2 |
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The house price in Phnom Penh is currently about 23,000 per square meter, about 65,000 per square meter in Ho Chi Minh City, more than 65,000 per square meter in Bangkok, and less than half of that in Phnom Penh. According to conservative estimates by real estate developers in Phnom Penh, house prices will increase by about 10-15% per year. After major constructions of the Trans-Asian Railway and highways are completed and opened to traffic, there will be a price comparison effect, pushing up housing prices and doubling.
Ten ASEAN countries, the Trans-Asian Railway and housing prices in first-tier cities in Southeast Asia
Unit: RMB/square meter
Phnom Penh real estate is in a period of vigorous growth in volume and price. According to the analysis of real estate experts in Phnom Penh, the rising state will last for 10 to 20 years, and the spring of the real estate industry will last for a long time. In the next few years, real estate in Phnom Penh will be a hotspot for investment in ASEAN. From a conservative point of view, from 2020 to 2030, the value of real estate in Phnom Penh will obviously be in an upward range.
Housing Market Supply and Demand: Cambodian Urban Development Strategy Research Report "Cambodian cities need 800,000 houses in 2030, and 50,000 houses are needed every year. The population of Phnom Penh is planned to double, currently about 3 million people, and will reach 5 million people in 2030. At the end of 2018, about 31,000 apartments were built in Phnom Penh. With the rapid population growth, there will be a huge shortage of housing in Phnom Penh in the future, and the supply of real estate in Phnom Penh is in short supply.
Demographic dividend: The national average age is about 28 years old, and 70% are under 30 years old. The current population is 16.52 million, and it is estimated that it will reach 20 million in 2030 and 25 million in 2050. It is a middle-income emerging country, a fast-growing emerging market, and a strong domestic demand market and rigid demand for housing. |
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