Land Prices in Southern PP Forecasted to Keep Rising; currently US$100- 2,000 per sqm

• 13 August 2021
• Local News
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CBRE Cambodia has predicted that land prices in the southern part of Phnom Penh will continue to rise as prices can currently vary from US$100 to over US$2,000 per sqm.

The international property agency added that land values in the area have begun to pick up pace since 2011 after the government announced the construction of Hun Sen Boulevard and later the new airport project.

According to its recent report entitled Southern Districts and Beyond, land prices along Hun Sen Boulevard can be as high as US$2,200 per sqm in 2021, an increase of more than 10 times from US$200 per sqm in 2013.

The report added that residential property prices per sqm along Hun Sen Boulevard range from US$500 to US$2,000, added the report.

Meanwhile, land prices in Dangkor district can vary on average from US$80 to US$280 per sqm while in Takmao city in Kandal province prices range from US$500 to US$2,000 per sqm.

For industrial property prices range from US$50 to US$100 per sqm for areas nearby the new Phnom Penh International Airport project, and US$80 to US$240 per sqm for the area near the NR2 and Ring Road 3.

CBRE Cambodia has forecasted that the capital’s most southern districts namely Dangkao and Mean Chey, as well as Takhamo city, Kandal Steung district and Saang district in Kandal province, will soon become the country’s new economic corridor, encompassing future residential, commercial, and industrial activity. (Read more)

These areas have witnessed rapid development and steady population growth in recent years, thanks to the major infrastructure development.

• Analysis