via CAAI
PRSEA
Jan 06, 2011
Cambodia’s land values fell up to 15 percent year-to-year in 2010, according to the National Valuers Association of Cambodia (NVAC).
The drop from an average $2,500 to $4,500 in 2009 to US$2,000 to $4,000 per square metre for 2010, was experienced across the commercial and residential sectors.
Analysts say the real estate market will stablise this year, noting also that the rate of property transactions was increasing compared to 2009.
“The market has already hit the bottom – it will stablise this year. I hope that it will start to increase again for the next two years, but it is not likely to be a boom like in 2007 and mid-2008,” Sung Bonna, NVAC president was quoted as saying by the Phnom Penh Post.
Land values in the capital Phnom Penh are 40 percent to 50 percent lower than their peak in mid-2008.
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