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  Property Market Overview In 2010   CEA : 12 years in business
1- Commercial property overview:

Some places in Phnom Penh still moving forwards to the development of both local and international standard properties even though the Cambodia property market had
hit by the global financial crisis since mid-2008. Those international properties such as: Sovanna international shopping mall, City mall located on Monireth Blv currently open, Phnom Penh Tower invested by CKID, from Korea , Elite Town on Diamond Island (total land area approx: 90 hectares) opposite Naga Hotel which financed by Canadia Bank as well as the mega project of the Gold Tower 42 is on the process as scheduled despite sale decline. Moreover most of the reliable leading financial firm such as: Canadia Bank
(28-stories ) completed , 10-story Cambodian Public Bank ready to open Vattanak Bank ( 18-storey on piling process).
Currently first commercial property in the heart of Phnom Penh city has been dropped about 15% to 20% because of low demand of buyers and business tenants which effected land price from Sihanouk Blvd, Monivong Blvd, Norodom Blvd - Sothearos – Sisowathquay - Sihanouk Blvd (Street 274),
Kampucha Krom, Charles De Gaulle Blvd, St. 217... etc.. Can be bought previously before 2008 from USD 2,400 to USD 4,000 per sqm and now an average selling price is available from USD 2100 per sqm to USD 3200 per sqm.
2- Residential property overview:

For the same reason of low demand of buyer and high supply of residential property and the withdrawal of bank loan to real estate investment Companies in Cambodia and it is also for individual limit loan, this also the major reasons of land price dropped between 25% to 35% for prime residential property in the heart of Phnom Penh city much more than commercial such as: BKKI, DP, WP, TK...etc. Cambodia’s housing market is plummeting mostly in the new development areas, and the government is considering a new law to allow foreigners to own buildings. In 2005, the government amended an
investment law to allow foreign ownership of buildings. However Cambodia’s property market was then experiencing one of the biggest booms in Asia. As a result, the law was never implemented and the idea floundered.Then in mid-2008, the bubble burst. The global financial crisis had hit Cambodia’s biggest investor, South Korea, and Korean investors began pulling out foreign assets to increase liquidity. market from sliding further, the government is considering moves to allow foreigners to fully own and purchase buildings. On the other hand the developer, World City Co., of South Korea, is investing $2 billion to build a “satellite” urban complex called Camko City on in the area of 119 hectares on the northwest side of Phnom Penh
seem to put on hold after finished the sale of first phase as well as the competitor from Indonesian company, Ciputra Group incorporated with YLP called Grand Phnom Penh International City which planned to build in 260 hectares land size in Sangkat Khmounh, Khan Russei Keo,on the northwest of a city in order to wait for the recovery. Currently a residential property mostly located in Sankat Russey Keo Stoeung Meanchey (local area map attached), has been dropped an average from 40% to 50% comparing with the old price before 2008 which sold out from USD 350/m˛ to USD 550/m˛ and could be bought between USD 210/m˛ to USD 330/m˛. So how long will Cambodia property market still facing the downturn? And when exactly will the booming periord be back to Cambodia? May be 2011 or more....? let’s wait and see together!
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