Siem Reap land prices take off

Siem reap pub street
Pub Street in downtown Siem Reap boasts the highest land prices in town

High demand for plots in Cambodia’s tourism hub of Siem Reap have caused land prices going through the roof, real estate experts say.

Prices increased by about 15 per cent in the first half of 2013 to an average of $950 per square meter compared with $825 per square meter in the same period last year, Sorn Seap, general manager of local firm Key Real Estate, told the Phnom Penh Post.

Siem Reap has become the second most important real estate market behind Phnom Penh in the country and is seeing a lot of investment projects such a new airport, new hotels and a golf course. The number of tourists to visit the nearby Angkor Wat temple complex is also constantly rising.

Downtown Siem Reap shows the highest prices for land, at between $2,300 and $3,000 a square metre.

Sieb said he remains optimistic that land prices will continue to climb in 2014 as “investors learn their lessons from the 2008 economic crisis.”

In 2012, 3.58 million tourists came to Cambodia, a rise of 24 per cent. The stayed an average of 6 days and the total value of tourism receipts for the country was $2.2 billion. About 2 million tourist visited Siem Reap province.



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[caption id="attachment_15005" align="alignleft" width="300"] Pub Street in downtown Siem Reap boasts the highest land prices in town[/caption] High demand for plots in Cambodia's tourism hub of Siem Reap have caused land prices going through the roof, real estate experts say. Prices increased by about 15 per cent in the first half of 2013 to an average of $950 per square meter compared with $825 per square meter in the same period last year, Sorn Seap, general manager of local firm Key Real Estate, told the Phnom Penh Post. Siem Reap has become the second most important real estate market behind...

Siem reap pub street
Pub Street in downtown Siem Reap boasts the highest land prices in town

High demand for plots in Cambodia’s tourism hub of Siem Reap have caused land prices going through the roof, real estate experts say.

Prices increased by about 15 per cent in the first half of 2013 to an average of $950 per square meter compared with $825 per square meter in the same period last year, Sorn Seap, general manager of local firm Key Real Estate, told the Phnom Penh Post.

Siem Reap has become the second most important real estate market behind Phnom Penh in the country and is seeing a lot of investment projects such a new airport, new hotels and a golf course. The number of tourists to visit the nearby Angkor Wat temple complex is also constantly rising.

Downtown Siem Reap shows the highest prices for land, at between $2,300 and $3,000 a square metre.

Sieb said he remains optimistic that land prices will continue to climb in 2014 as “investors learn their lessons from the 2008 economic crisis.”

In 2012, 3.58 million tourists came to Cambodia, a rise of 24 per cent. The stayed an average of 6 days and the total value of tourism receipts for the country was $2.2 billion. About 2 million tourist visited Siem Reap province.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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