Chinese push up Sihanoukville property prices

The presence of Chinese investors and tourists in Sihanoukville continued to push real estate transactions and increase prices in the city, with major construction activities underway, say property insiders.

Previously, local property insiders predicted that real estate transactions in Preah Sihanouk province would begin to saturate, that price jumps would slow down from this year onwards and that they had peaked during the 2017-2018 period.

However, Lucky Realty Co Ltd CEO Dith Channa says the real estate sector in Sihanoukville has continued to grow strongly since early this year, with both market activity and prices rising gradually.

He said due to the large demand for land in central Sihanoukville, prices have increased more than 10 per cent compared to the end of last year.

“The growth of the sector in Sihanoukville can now be said to be strong because most of the land is taken for construction by investors or to open businesses immediately. Land brokers are rarely seen keeping them for resale to make a profit.”

Currently, land prices in the city centre are around $4,500 per sqm, while they are less than $1,000 in suburban areas, according to Channa.

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