Land prices throughout Cambodia have risen sharply in recent years, and nowhere is this more apparent than Phnom Penh which has the highest land prices in the country.
If you are looking for cheap land for sale in Phnom Penh Cambodia, just like land for sale in Siem Reap, then you should consider purchasing something outside of the city centre.
The cost of land in Phnom Penh has increased exponentially over the last decade. While this has meant many people have seen substantial returns on their investment on land purchased in the Cambodian capital, it also has led to the price of land in central Phnom Penh become extremely high. Land in downtown Phnom Penh is focused on large commercial developments, such as condos, malls and major international hotel chains establishing a presence in the Kingdom.
Where to Look for Land for Sale in Phnom Penh?
The good news, however, again as in Siem Reap, is that there is a lot of undeveloped land on the outskirts of the city. Larger plots are popular for local and international developers to develop borey housing developments, malls and other projects.
You can also discover relatively cheap plots of land for sale in Phnom Penh’s suburbs that are suitable for commercial or residential purposes.
Cheap Land for Sale in Phnom Penh
Phnom Penh is quickly expanding and what used to be rural farmland and rice paddy just a few years ago is now being quickly developed and urbanised into residential areas.
Looking at the edges of current development areas could be a wise bet if you wish to find land that will soon increase in value, and offer the best returns on your investment.
Land that includes lakes and wetland marsh areas is also being reclaimed by developers for housing projects and malls. Developers with a sufficient budget can purchase this largely unusable land and turn it into something highly profitable.
Areas where you might consider looking for land for sale in Phnom Penh include: Prek Leap along Road 6 to Siem Reap on Chroy Changva; Svay Pak next to “bridge 2” along Road 5; and Chbar Ampov towards Kien Svay, along Road 1. All of these areas have a considerable number of borey. Alternatively, you could consider the area around Ta Khmau, which is where the future international Phnom Penh airport will be located.
Finally, if you are prepared to look further out of town you might consider land along Road 4 to Sihanoukville, or Road 3 to Kampot, where there is still plenty of land suitable for industrial use.
Can Foreigners Buy Land in Phnom Penh?
Only Cambodian nationals can buy and sell land.
Some foreigners use a nominee structure or register a holding company to get around this situation, but potential overseas or expatriate buyers should take independent legal advice on this. The holding company route can be appropriate for large commercial purposes.