Original report from Phnom Penh
27/06/2007
Land owners in Phnom Penh have seen a nearly doubling in value since 2001, as demand for space in the capital increases, businesses and residents told VOA Khmer.
The boom has surprised even the most optimistic property managers and real estate agents.
"There is momentum in land buying and selling, and the difference is almost twofold," Seung Bunna, who owns a realty company, said.
One resident in Russei Keo district said he sold his land for $10,000 in 2001, but to buy it back now would cost $20,000.
The boom has surprised even the most optimistic property managers and real estate agents.
"There is momentum in land buying and selling, and the difference is almost twofold," Seung Bunna, who owns a realty company, said.
One resident in Russei Keo district said he sold his land for $10,000 in 2001, but to buy it back now would cost $20,000.
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