Located in the northern part of Phnom Penh City, Toul Kork is increasingly attracting both expats and locals, largely because land prices in BKK have skyrocketed in recent years. The peak land price in BKK has changed newcomer’s mind by choosing to move to cheaper but potential location such as Toul Kork. Currently, Toul Kork is becoming more popular for newcomers, especially foreigners seeking permanent residence in Cambodia.
Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork has been regarded as a great residential area for a long time ago with many special characteristics. It is considered as the second best residential area after BKK, the best location in Phnom Penh. Recently, there are a few new projects underway such as The Gateway and Phnom Penh City Center, which contributes to Toul Kork’s attractiveness.”
Mr Sorn explained that the development process with regards to residential and commercial operation in Toul Kork is quite similar to BKK. Therefore, how BKK has developed will apply to Toul Kork. In the near future, we will have another BKK area in Toul Kork.”
Houses for rent and sale in Toul Kork vary in price based on locations, sizes, and functions. Villa house, in particular single villa house, is a good option for office spaces. But if you want to use your property for commercial purposes, you can consider flat houses which can be used as a shophouse.
According to Mr Sorn, “Prices of Villa house range from $700,000 to $2 million. Prices of flat houses along the main road ranges from $300,000 to $600,000 while prices of those along the small roads range from $100,000 to $200,000”.
“Renting price of villa house ranges from $2,000 to $5,000 per month, while renting price of flat house or shophouses ranges between $1,500 to $2,500 and $350 to $650 per month for the main roads and small roads respectively.”Check out all type of property for sale and rent with Key Real Estate.
A report released by VTrust Appraisal says that there was a slight increase in land prices in the area from 2013 to early 2016 which moved average rates from $2,150 to $2,530 per square meter. Prime commercial streets have also been reported to reach up to $5,750 per square meter in central Toul Kork.
The lowest land price average comes from the Boeung Kak Ti Muoy Sangkat, at $1,820 per square meter. The highest land price average comes from the Phsar Depou Ti Bei Sangkat, at $3,630.
“Over the last decade, Northern fringes of Tuol Kouk district were the first main destination for residential relocation because of its available large portions of vacant land and a neighborhood of the central parts of the capital,” according to the report.
Specializing in all types of property for rent and sale throughout Toul Kork area, Key Real estate has more than 10 years of working experience with both local and international teams.
With a vision to provide the best quality services for all property valuation in Cambodia, Mr Sorn concluded that Key Real Estate strives to offer its clients better and more reliable quality service, aiming to contribute to the growing Cambodia’s real estate sector. Key Real Estate is your win-win partners!”
Learn more about hot location for home buyers in Toul Kork!