According to Knight Frank’s PRIME ASIA DEVELOPMENT LAND INDEX H1 2015, Phnom Penh recorded the strongest increase in both prime residential and office development land prices in the first half of 2015 as compared to regional competitors.“With prime residential and commercial land prices surging by 14.1% and 9.7% respectively, Phnom Penh topped the table once again,” says the Knight Frank Report.
The report suggests that FDI was the chief stimulus behind the strong performance of the local residential sector. Yet, the report also notes that this growth decelerated in the second quarter, which may suggest that prices were peaking. Meanwhile, approvals for higher density developments have continued to push commercial land prices upwards.
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