Property prices up in Sihanoukville

Sihanoukville has seen an uptick in real estate prices with premium main road and beachfront properties commanding around 10 percent more than this time in 2013, says Po Eavkong, managing director of Asia Real Estate Cambodia. Properties along backstreets went up 5 to 7 percent.

Land along the seafront fetched $700 psm to $800 psm, while those around the commercial area commanded $800 psm to $1,000 psm. Sub-road land prices hit $150 psm to $300 psm.

Land prices in Metta Pheap commune enjoyed a huge increase, but land along the National Road Number 4 and outside of the city stayed stable.

According to Sung Bonna, director of Bonna Realty Group, Sihanoukville’s property market was still gradually developing as it was considered a tourist area.

“It’s increasing slowly because the area is popular for tourists only in peak season and they only stay a short time,” he said. “The number of people in the area is not attractive for investors yet.”

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