Sen Sok, Por Sen Chey, and Meanchey remain a viable option for investors seeking properties in the capital city
According to Khmer Times, expansion out of Phnom Penh carries on amid the pandemic, favouring buyers as the development of outer districts has not directly increased property prices like pre-pandemic times.
Many outer districts continue to be a viable option for property buyers looking for apartments or condominiums in the capital city, including Sen Sok, Por Sen Chey, and Meanchey.
The median sale price in Sen Sok was recorded at USD101,022 in Q3 2021, a 26 percent drop compared to the same period in 2020. Neighbouring Por Sen Chey district saw an 11 percent decrease at USD97,944, while the southern district of Meanchey recorded at USD100,000, 16 percent lower.
These three districts have been the biggest contributors to Phnom Penh’s outer expansion.
Sen Sok, which houses more than 180,000 residents, currently comes on top with multiple Borey and condo projects already in different stages of development.
The district is well-liked due to several factors, particularly the establishment of AEON Mall 2, Phnom Penh’s biggest shopping mall to date. Owing to the amount of development Sen Sok has seen these past few years, the district currently holds the most promise in the short-term.
On the other hand, Meanchey district hosts 248,000 residents and is increasingly growing as a suburban choice among Cambodians.
Following the completion of the Hun Sen Boulevard in 2017, the district experienced its first surge in property prices. The biggest influx of interest emerged in December 2019 with the announcement of AEON Mall 3, which is scheduled to complete in 2023.
Lastly, Por Sen Chey offers the lowest median condo sale price.
It is known as the airport district, as well as one of the largest districts in the capital city by land area, housing over 226,000 residents. Commercial developers have recognised the area’s growth, with properties along Russian Boulevard and the upcoming Century Plaza predicted to see huge growth.
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