Global economic uncertainty and slow growth of the economy this year is likely to trade in and land prices in Phnom Penh as well as in the provinces economic potential in a state of stagnation. According to the evaluation of its property.
General Manager of Asia Real Estate Po Eav Kong, said on Tuesday that by the projections and anticipated strong buying and selling land late last year, and the uncertainty of the global economy as well as the economy makes investing in land prices in Phnom Penh and other provincial economic potential some notable carefully.
He said that if the current land prices are rising to levels of 8 to 9 and 10 you buy a lot of attention because, according to forecasts by the world Bank and the International Monetary Fund, global economic growth this year will slow from 3.5 percent last year to 2.8 percent this year.
Mr. Kong said: 'slow global economic growth this year compared to the old bad impact properties in Cambodia stock markets in Europe and the United States decline and fall of China's stock market has been undermine confidence in economics.
He said that property prices in the country may be in a fixed level or lower than the previous year, which makes land prices could rise levels below 10 percent.
Mr. Kong said: Currently in the country tends to inflate property values from various vendors who want to sell their real estate price higher than market value of about 30 to 40 percent in both the real estate market in Phnom Penh and the provinces economic potential that such a sale have more negative than positive effects.
Cox Mony Roth, president of the board of the company DAILY Realty Group has agreed with the above raised, he said that land prices in this year, in a state of stagnation such BKK1 land prices skyrocketing, because the current price buyer invested very difficult to turn a profit, but in some areas, such as the Bassac river Va Daun and may continue to rise in levels 15 to 20 percent, with investment from domestic and foreign companies.
He said that while the new area is likely to calm this year, thanks to growth in Tuol Kork moderate pace because demand decreased down compared to 2015, the land has increased 100 percent in Tuol Kork and a number of other areas.
He said: 'demand for land in this year may slow the momentum of buying less force, so when demand decreases land prices may be in a state of stagnation and faced with a decline in some areas.
President of the Association of Appraisers and Estate Agents Cambodia Kim Heang, said land prices in the capital this year is facing uncertainty currently, there are more sellers than buyers and sellers put a market value in excess of 30 to 40 percent, making buyers also to buy not sell sales. But, however, he still sees value land is still growing at about 20 percent in area and suburban growth of around 5 to 10 percent in the central region.
Mr. Heap said that the demand for land transfer and movement this year is likely not a good sign, but compared to previous years as you wish buy land for investment started from 2013 to early 2015, Deng said. He said that during the year, the demand for land has increased dramatically. Which regions have the land to build condos are always buying almost no vacant land.
Heang comparable land prices in some areas, such as BKK1 like a young woman aged 25 to 27 years in Tuol Kork 22 to 23-year-old ground in new areas such as women aged 18 to 20 years old Chroy 20 to 24 and land in the area around city Hall as 13 to 15 years old.
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