by: Sotheary
Phnom Penh: Phnom Penh is still the number one area to attract domestic and foreign investment, and there are three high-potential areas to attract foreign investors and encourage those three areas to have high real estate prices.
According to Charles Villar, Manager of KW Khmer Real Estate, in Phnom Penh, three areas are ranked top for investment, Boeung Keng Kang is the number one area in Phnom Penh and the land price in this area has risen steadily.
This makes some investors to find another location to invest, the second area, Toul Tompong, which has a lot of foreign investment. The third area in Phnom Penh is Toul Kork. Toul Kork has also seen high investment momentum in recent years, especially foreign-focused investment.
He added that all three areas are populated by foreigners, and investors who invest in these three areas focus on the development of high-rise buildings, in fact, we see in the three areas are building high-rise buildings.
“When land prices are higher, investment is more profitable, and building development is a way for investors to make more money from it,” he said. “They cannot take high-value land to build an apartment or a villa for sale.”
Neak Oknha Sear Rithy, a major real estate investor in Cambodia, also said that investment in high-rise buildings such as condominiums and offices is located in the center of the city, and the price of land in the city center is high, so the investment in the center cities need a lot of capital, but can also be profitable if the investment is clear enough.
Mr. Sorn Sieb also mentioned the development in the center of the city, advising real estate investors who want a quick return on investment should not invest near the city. Land prices in the city have already risen, so it can no longer jump fast, but if investment in the suburbs, the rate of increase will continue as more development develops.
