By: Sotheary
Phnom Penh: The real estate market, which focuses on land along National Road 51, is still active in terms of investment, as land in the area is still affordable and many large development projects are popping up.
Factories, enterprises, and industrial parks have been located along this national highway.
The President of Cambodian Valuers and Estate Agents Association (CVEA), Mr. Chrek Soknim, said this morning that the area of National Road 51 at this time continues to have normal trading activities, although less, revolving like before the Covid-19 eruption in the community and land prices are still cheap.
“The important thing is that the land area in this area is still large, not inferior to other areas, which can make it easier to buy and develop any large project, while this area is also becoming an industrial area,” he said. “The suburbs are home to factories, enterprises, warehouses and regional markets.”
Mr. Chrek Soknim said that the Phnom Penh Capital Administration has set factories and enterprises to move out of the city to reduce traffic congestion, most of which were fired at the area on Street 51, which makes the price here. Prices will continue to rise at the end of 20219, especially in areas with economic potential and urban areas next to the main road.
He said the price of land on this road ranges from 40 to 100 US dollars per square meter, depending on the type of topography and location.
“Currently, there is still a lot of vacant land in the area next to Street 51 and if you buy now, it may be a little cheaper because in Covid-19 crisis, no buyer can raise the price,” he said .
“But, if you wait later, sooner or later, after the Covid-19 calms down, the price may increase to another level, especially after there are more big projects to develop in this area,” he continues.
Mr. Phon So Onden , Sales Manager of KH Land, said that in the next 5 years, Street 51 will have the same potential as the current Win-Win Boulevard.
“If you want to make a profit in the future, you can invest in Street 51, but if you wait for the next five years, the price of land will rise and it will be very difficult to buy land to invest,” he said.
