ABC Radio Australia
Cambodia's land prices have fallen by up to 25 percent from a historic peak in June amid the global financial crisis and a border dispute with Thailand that scared off investors.
President of National Valuers Association of Cambodia, Sung Bonna, says the land prices countrywide dropped between 20 to 25 percent by early November.
Prices reached as high as 5,000 US dollars per square metre in June in prime locations in the capital Phnom Penh but the boom started to collapse as the country prepared for July elections.
The government is considering allowing foreign ownership of property such as apartments and office buildings to boost the country's economic growth.
President of National Valuers Association of Cambodia, Sung Bonna, says the land prices countrywide dropped between 20 to 25 percent by early November.
Prices reached as high as 5,000 US dollars per square metre in June in prime locations in the capital Phnom Penh but the boom started to collapse as the country prepared for July elections.
The government is considering allowing foreign ownership of property such as apartments and office buildings to boost the country's economic growth.
3 comments:
I think it's good news. People make $2 a day, how the heck can they afford a $200K house? Expensive houses and land only make corruption worst, because people they need more money to buy these expensive land and house.
5,000 US dollars per square metre?
What the fuk?
They plan to sale the country? Mother fucker, may lightning strike those mother fuckers!!!!
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