{"id":25165,"date":"2021-09-09T09:58:56","date_gmt":"2021-09-09T02:58:56","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25165"},"modified":"2021-09-09T09:58:56","modified_gmt":"2021-09-09T02:58:56","slug":"cambodian-property-experts-speculate-10-rise-in-prices-along-national-road-5","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/cambodian-property-experts-speculate-10-rise-in-prices-along-national-road-5\/","title":{"rendered":"Cambodian property experts speculate 10% rise in prices along National Road 5"},"content":{"rendered":"

Experts also anticipate Borey-style housing projects and other large-scale developments to pickup in growth soon<\/span>\u00a0<\/span><\/p>\n

\"\"
NR5 is an invaluable road\u00a0that will boost Cambodia’s economy, connecting Phnom Penh\u00a0to Thailand. MarekPoplawski\/Shutterstock<\/figcaption><\/figure>\n

The National Road 5 (NR5) expansion and renovation project expected to complete by 2024 is driving a steady surge in growth for the Borey gated communities and business\u00a0centres\u00a0along the\u00a0project, reported Phnom Penh Post<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

Real estate experts\u00a0postulate\u00a0a rise in property prices along the road of at least 10 percent between now and 2024.\u00a0<\/span>\u00a0<\/span><\/p>\n

The 407.45 kilometre NR5 connects Phnom Penh north to Kandal province\u2019s Ponhea Leu district, then extends across the provinces of Kampong Chhnang, Pursat, Battambang, and Banteay Meanchey. The road ends at the Thai border in Poipet town and joins end-on with Route 33 in Thailand\u2019s Aranyaprathet town.<\/span>\u00a0<\/span><\/p>\n

Chrek\u00a0Soknim, president\u00a0at\u00a0Cambodian Valuers and Estate Agents Association, said that the real estate market along NR5 could increase 10-15 percent from now until the project\u00a0is completed.\u00a0He argues against a higher rate, mentioning that it is an existing road that moves heavy traffic.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cProperty prices along roads that are already open to traffic are not as volatile as those along new roads. But for construction and investment projects, there will be more when road construction is entirely completed,\u201d he said.<\/span>\u00a0<\/span><\/p>\n

However, he\u00a0emphasised\u00a0that property prices could jump if the government announces plans to turn an area along the road into a commercial or industrial zone.\u00a0<\/span>\u00a0<\/span><\/p>\n

Sam Soknoeun, president at Global Real Estate Association, underlined that the NR5 is an invaluable road that will boost Cambodia’s economy, connecting Phnom Penh to Thailand. Yet, land prices along it haven\u2019t changed much for the past three years. <\/span>\u00a0<\/span><\/p>\n

The number of Borey-style housing projects or other\u00a0large-scale developments isn\u2019t as much as other national roads, but he expects a pickup in growth soon.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Foreign brands express interest in Cambodia due to growing local demand<\/strong><\/a><\/p>\n

\u201cFrom my standpoint, by when the revamping of the road [is complete], property prices will have increased by about 30 percent, due to\u00a0a number of\u00a0factors, including travelling conveniences, as well as growing numbers of developments and diverse investment projects such as factories and warehouses.<\/span>\u00a0<\/span><\/p>\n

\u201cThere will be new areas with hosts of large buildings, not unlike those along national roads one and six now,\u201d he said.<\/span>\u00a0<\/span><\/p>\n

\n
\n

The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i>propertyreport@propertyguru.com<\/span><\/i><\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Experts also anticipate Borey-style housing projects and other large-scale developments to pickup in growth soon\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2320,177,2321,557],"class_list":["post-25165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-borey-housing","tag-cambodia","tag-commercial-zone","tag-property-market","news_country-cambodia","news_author-property-report"],"acf":[],"yoast_head":"\nCambodian property experts speculate 10% rise in prices along National Road 5 | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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