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Foreigners bought more than 1,305 condominium units in the first six months of the year, the Ministry of Land Management, Urban Planning and Construction has revealed.
Property prices in Sihanoukville are on the rise with premium main road and beach front properties selling for about 10 per cent more than this time last year, says Po Eavkong, managing director of Asia Real Estate Cambodia. Eavkong said properties along backstreets had gone up 5 to 7 per cent.
The pace of new-home sales fell to the slowest in four months in July, signaling U.S. real estate lacks the vigor to propel faster growth in the economy.
In response to Cambodia’s ever-growing thirst for real estate news, local property expert Keuk Narin in May launched a new website, mlscambodia.com, focusing on the Kingdom’s property sector.
A lack of payment for property tax has led the General Department of Taxation to issue a warning this week to property owners, reminding them that penalties will apply to those who miss this year’s payment deadline.
Property investors with inside information may have bought up land across the Mekong River in Kandal province before the announcement of new bridges, a real estate agent claims.
Some say City Hall’s scheme to improve public transport with a bus line is failing. One architect has a new plan, tried and tested throughout the developing world.
Big projects are transforming the greater Phnom Penh landscape but few so dramatically as those under way in the Chroy Changvar area.
Expats fuel growth in the sector with more demand expected as next year’s Asean Economic integration approaches Phnom Penh’s graded serviced apartment sector is booming and shows no sign of slowing down, according to a report by a real estate firm released this week.