Prices Rocket on Capital’s Shophouses

• 3 March 2018
• Local News
• 2636 Views

Shophouses in emerging areas of Phnom Penh soared in price last year as investors look to capitalise on the rise of large retail outlets.

A report by VTrust Appraisal showed that on average, shophouses in the Cambodian capital were fetching prices 57 percent higher than those in the previous year.

Units in the mushrooming district of Sen Sok, the locations of the new Makro supermarket and the upcoming Aeon Mall 2, are now fetching prices of between USD300, 000 and USD350,000.

“People start to realise that buying shophouses is a good investment for the secondary market. They can resell them at much higher prices than any other type of house,” Hoem Seiha, research director at VTrust Appraisal told the Khmer Times.

A recent report by the Ministry of Land Management, Urban Planning and Construction (MLMUPC) indicated that residential demand in Cambodia’s cities will increase to 800,000 homes by 2033.

• Business and Market