Experts: Land Price in Arey Ksat Temporarily Oversaturated

• 20 January 2023
• Local News
• 2473 Views

After the announcement of the new Night Market-Chroy Chagva-Arey Ksat bridge, the land prices in Arey Ksat area is once again skyrocketing. However, experts are urging investors to be more cautious of sudden price fall due to the uncertainty of the bridge project 

President of the Cambodian Valuers and Estate Agents Association (CVEA) Sorn Seap said on 19 January that land prices in any area depend on infrastructure development. 

In 2024 and 2025, urban development will begin to grow rapidly in the eastern part of Phnom Penh, especially in Arey Ksat after the construction of the bridge begins. 

“According to my experience, before 2012, our city expanded to Pochentong, in 2012-2017 to Sen Sok district, and in 2018-2023 to the south. So, in the coming 2024-2025, the city may start to expand to the east, “he continued. 

He added the current rise in land prices at the moment are over-speculated prices which will burst soon. The price will increase for real only after ground is broken for the project. 

Similarly, Oknha Sam Sok Noeun, President of the Global Real Estate Association, said that land prices in Arey Ksat have already risen too much as investors already expected the zone will be soon become a new city. 

“Thus, in reality, the price should not increase much further at the moment. We have to wait for when the bridge hits the ground, then the price will change,” he added.

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