By Kong Soriya
PHNOM PENH, The royal government recently announced to break ground the 3rd ring road together with another 2 bridges project crossing Bassac river and Island called Anloung Chen, Kandal province. Land price now on the island surprisingly jump high.
On 16th January, Mr. Chhrin Chreang, chairman of the Anloung Chen district council said that the land price was about $ 1000 per plot (1000 square meters), but has now sharply risen up to about $ 80 to $ 100 per square meter after the proclamation by Samdech Techo Hun Sen at the 3rd ring road groundbreaking ceremony.
Mr. Chreang added that land dealers are ready to cash out anytime if the villagers willing to sell their land, but he believes mostly they don’t want to sell their home and farmland and stay on checking others.
Mr. Yin Leangkong, Vice Chairman of the Cambodia Valuer and Estate Agent Association (CVEA) states that he is not surprised at all about the risen price as the infrastructure development simply costs the price high. He also adds government’s infrastructure investment not only help the real estate sectors but also the economic growth, cutting the poverty and shrinking the gap between urban and rural development.
Mr. Leangkong believes that there are a numbers of factors to help growing land price such as peace, economic growth, FDI (foreign direct investment) and a clear government’s development master plan.
