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Cambodia Property Prices | Cambodia Land Prices
By property | November 22, 2008
Cambodia Property Prices | Cambodia Land Prices
Land prices, which have increased about ten-fold over the last five years, have started to fall markedly as a result of the world financial crisis and speculators being caught in a sudden property glut. An increasing number of projects are now stalled. In particular, Korean and Chinese investors, who have been most active in land development projects – which help launder corruption and other illicit money along with the gambling industry – start to repatriate a portion of their funds. Many Cambodian people who mortgaged their houses to engage in land speculation are starting to feel the pinch, being unable to pay hefty interests on loans from their banks. After a sharp decline in the number of transactions, land prices are expected to fall between 30 and 50 percent in the next twelve months.
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