Bonna Report Shows Booming Sen Sok

• 16 January 2016
• Property Focus
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Real estate development in Phnom Penh’s Sen Sok district in the capital’s northwest is booming, according to the Q3 2015 report by Bonna Realty.

As the report points out, condominiums and apartments are usually built within the boundaries of the CBD and are targeted at international customers, while Borey developments tend to be outside the CBD and aimed at the Cambodian market.

Given its location on the edge of the CBD, both in terms of projects underway, units available and pricing, Sen Sok has emerged as the hot spot for Borey development in Phnom Penh.

According to the Bonna Q3 report, Khan Sen Sok is the most popular for Borey construction with 37 projects, which is followed by Khan Russey Keo with 26 projects, Khan Chbar Ampov with 24 projects, Khan Porsen Chey with 22 projects, Khan Mean Chey with 14 projects, Khan Chroy Chong Var with 10 projects, Khan Dangkor with 9 projects, Khan Chamkamorn with 6 projects and Khan Toul Kork with 3 projects.

In terms of supply by location, Bonna identifies Khan Sen Sok as being one of the most popular locations for Borey construction with total supply of housing units more than that of other locations with approximately 9,500 houses. In second is Khan Por Sen Chey with a similar supply of approximately 8,000 houses. In third place is Khan Chbar Ampov, recently spilt from Khan Mean Chey with approximately 7,600 houses.

Overall, the report points out, the total supply of Borey has increased 13 percent in the last year with approximately 46,500 houses compared to 41,000 houses in the same period last year.

In a positive message for the strength of the Borey market, Bonna reports that on average developers had successfully sold 81 percent of all total units.

In terms of pricing by location, Boreys in Toul Kork and Sen Sok outperformed other locations in the capital. The price of Flats in Khan Sen Sok ranges from $101,714 to $159,790, while prices of Link Houses range from $92,674 to $392,980. Twin Villas range from $144,000 to $559, 800, and Single Villas from $312,800 to $1,400,000.

While in Toul Kork, Flat prices range from $165,800 to $184,900, with Twin Villas ranging from $152,200 to $219,900 and Single Villas from $420,000 to $1,350,000.

• Business and Market