Average Land Prices in Phnom Penh to Increase by Only 5% in 2023

• 14 January 2023
• Local News
• 2848 Views

The average growth rate of land prices in Phnom Penh is expected to be as low as 5% in 2023, mainly due to the concern caused by the upcoming national election, according to the 2023 real estate market forecast report by PropNex Cambodia,  

The report added that the average land price growth rate in Phnom Penh dropped from 12% to 10% in 2020, 5% in 2021 and 6% in 2022. 

Despite the minimal growth in price, Ann Sothida CEO of PropNex Cambodia said that new trust regulations and relaxation of the economic crisis are expected to increase land transactions. 

Meanwhile, the CEO of Century 21 Mekong, Mr Chrek Soknim, said on 11 January that for 2023 land investment can be very profitable in the suburban areas. 

“I encourage you to invest in land if you have big cash flow in hand and expect long-term profit. The potential areas are Sen Sok, Phnom Penh Thmey, Boeung Ta Mok, and Phnom Basit. Those are the developing zones which will see high economic activities in the future,” said Mr Sokhim. 

• Analysis