{"id":1278,"date":"2019-02-08T08:58:22","date_gmt":"2019-02-08T08:58:22","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1278"},"modified":"2021-06-04T14:05:55","modified_gmt":"2021-06-04T07:05:55","slug":"the-new-municipality-that-will-change-cambodia-real-estate","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/the-new-municipality-that-will-change-cambodia-real-estate\/","title":{"rendered":"The new municipality that will change Cambodia real estate"},"content":{"rendered":"<p><strong>Building activity and land prices to rise after two of the kingdom&#8217;s touristy islands achieve cityhood, but concerns remain<\/strong><\/p>\n<figure id=\"attachment_1279\" aria-describedby=\"caption-attachment-1279\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1279\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/The-new-municipality-that-will-change-Cambodia-real-estate.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/The-new-municipality-that-will-change-Cambodia-real-estate.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/The-new-municipality-that-will-change-Cambodia-real-estate-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/The-new-municipality-that-will-change-Cambodia-real-estate-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1279\" class=\"wp-caption-text\">Koh Rong, Cambodia. Alexsander Todorovic\/Shutterstock<\/figcaption><\/figure>\n<p>A new law creating a new municipality out of two\u00a0islands will spur more building off\u00a0mainland Cambodia, experts told local property portal\u00a0<a href=\"https:\/\/www.realestate.com.kh\/news\/Koh-Rong-islands-become-city\/\" target=\"_blank\" rel=\"noopener noreferrer\">Realestate.com.kh<\/a>.<\/p>\n<p>Effective May, the islands of Koh Rong and Koh Rong Sanloem will be accorded the status of a\u00a0municipality, a sub-decree ruled in January.<\/p>\n<p>With a new, single administration over the islands,\u00a0the arrival of\u00a0government buildings and infrastructure projects will likely benefit the municipality, according to Chheun Chantha, commune chief of Koh Rong Sanloem.<\/p>\n<p>Plots along the beach in Koh Touch, one of two villages in Koh Rong Sanloem, have already been selling for more than USD1,000 per square metre, while those further inland have been fetching prices between USD100 and USD200 per square metre, the commune leader said, adding that land prices will further ascend.<\/p>\n<p>\u201cThe area is very attractive for tourism. On average, 2,500 tourists show up every day,\u201d he said, reporting that around 75 percent of visitors stay for at least one night.<\/p>\n<p>Ambiguity around\u00a0ownership of\u00a0plots in the island may hound would-be sellers, however. \u201cMost villagers don\u2019t own their land with hard titles,\u201d said Brad King, managing director at Sihanoukville\u2019s Cambodia Real Estate.<\/p>\n<p>Investors are waiting until they can get these before they make significant investments, he added.<\/p>\n<p>Prices for lots\u00a0without a hard title fetch USD20 to USD50 per square metre, reported Chheun Chantha.<\/p>\n<p>Situated 25 kilometres off the coast of Sihanoukville, the islands are currently administered as communes under Preah Sihanouk province\u2019s Mittapheap district. Two of the biggest tourist destinations in the kingdom, the islands have a permanent population of 4,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Building activity and land prices to rise after two of the kingdom&#8217;s touristy islands achieve cityhood, but concerns remain<\/p>\n","protected":false},"author":2,"featured_media":19792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The new municipality that will change Cambodia real estate | Asia Property Awards<\/title>\n<meta name=\"robots\" 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