By Kong Soriya
Phnom Penh: Despite the Covid-19, land sales in four provinces remained active in the first quarter of 2021.
Mr. Chrek Soknim, president of the Cambodia Valuers and Estate Agents Association, said by telephone this morning that in the first quarter of this year, land transactions were still active in four provinces, including Kandal, Kampong Speu, Kampot, and Siem Reap province. He said that housing activities seem to be a bit quiet, but land sales are not calm in these provinces.
“Of the four provinces, Kandal and Kampong Speu have the highest sales because the government plans to build a fourth ring road in the near future,” he said. “Land at these provinces has not increased, it is still stagnant.”
Land prices in areas of National Roads 51 and 41 have been surged since last year after the government ordered factories to leave Phnom Penh and move to nearby provinces. In particular, Canadia Enterprise Park has announced the establishment of a new special economic zone on National Road 51, which connects to National Road 4 and the Phnom Penh-Sihanoukville Expressway.
Mr. Chrek Soknim said that the Cambodian real estate market needs some more time to recover to normal because the global crisis is not over soon.
Meanwhile, Mrs. Ann Sothida, Managing Director of CBRE Cambodia, said that things have calmed down due to Covid-19, which has left people to stay home not only for Cambodia, but also for the global working environment (working from home).
“It will take longer to attract foreign investment, so the current market is more dependent on the domestic market,” she said.
