Cambodia Land Prices Gyrate
Category: Real Estate
Land prices for residential and commercial development in Phnom Penh are expected to drop by 2-3% according to Cambodia's NVA (National Valuers Association).
Based on data comparing Q3 data in 2010 versus 2009, residential land is now USD1,600 per square meter.
The country saw property prices skyrocket over a 5 year period between 2004 to 2008. Once the global financial crises hit, then declines started to creep into the marketplace.
Despite the trend, resort land speculation in the southern part of the country which has coastal and island land with white sand beaches continues to be a hot topic and has continued to outperform the broader trading bourse.
Still early in the development story, risk and reward remain high in what is being termed as early days for Cambodian real estate.