Project Cambodia: Land prices in Kampot remain stable

If it is land outside the city, the price may drop to $10 to $20 per square meter.

Kim Heang, general manager of Khmer Real Estate, agreed, saying prices could rise or fall depending on the quality of the land the client buys.

House prices in Kampot have not risen because there is no reason to raise land prices as there is nothing interesting there and not many people live there. The province also has two special economic zones but they have not been opened yet and are not attractive to investors, he added.

Khoy Khun Huo, governor of Kampot province, said land prices in the province may not have changed, but the volume of land transactions this year has risen compared to last year. He said the volume of land transactions has not yet fallen because people are selling land but there are few buyers and the market is stagnant.

No companies have yet entered Kampot to develop the area, but housing is being built in the city center.

“Land near the beach or the city center costs about $300 per square meter, while land for planting costs $1 or less,” he said.

However, Dith Channa, general manager of VMC Real Estate Cambodia, holds the opposite view, saying that land prices in Kampot have risen by about 10% to 15% this year because of the province’s tourism potential and its reliance on neighbouring Kep province.

There are more resorts in Kampot, such as Bokor Mountain and Teuk Chour Waterfall, which are potential tourist attractions. The land price in these areas is about US$500 to US$600 per square meter, about US$20 to US$30 in the suburbs, and US$1 for plantation land.