Phnom Penh Land Prices Show Growth

Property prices in Phnom Penh increased by about 15% at the end of June compared to the same period in 2011, according to data released yesterday by local realty firm Asia Real Estate Cambodia (ARC). The average price of commercial property in Phnom Penh reached US$2,900 per square meter, up from US$2,500 per square meter at the end of last June last year, while the market price of residential property grew from about US$1,350 to US$1,550, according to the data. In Chamkarmon Mon District, resident buyers were paying an average of US$1,375 per square meter, a 10% increase, as of the end of June. However, residential properties in areas such as Boeng Keng Kang I can cost as much as US$2,400 per square meter. That is compared to just US$1,800 per square meter in June last year. On the commercial site, the cost of property in Tuol Kok district has grown from between US$1,500 to US$2,000 per square meter in June 2011.
[The Cambodia Daily]