Our Dream Real Estate Buy..

Living in Phnom Penh / Saturday, November 22nd, 2008

Here’s another living in Phnom Penh post..

One of the things I have noticed here in Cambodia particularly here in Phnom Penh right now is that almost all blocks have an ongoing building construction.

This city is really undergoing a rapid transformation. Places I’ve been to four years ago I could hardly recognize. Malls, banks, all sorts of commercial establishments are sprouting up all over the place.

It’s hardly surprising that real estate prices are skyrocketing. Two years ago, a friend bought a 20m x 20m lot located in the outskirts of the city for $20,000. Both me and my husband liked the location, its near the airport, near schools yet its quiet and tranquil away from the hustle and bustle of the city. So we inquired for the price of the adjacent lots and we were taken aback when the owner said the lot price is now $70,000. In three years time, the price have already more than tripled!

We have yet to make a decision but were both thinking if we don’t get it now, next year it’ll probably be double the current price. Whew! Now I realize what they are saying, you can really get rich with real estate! In places undergoing developments, real estate is really one of the best investment anyone can make. If I have lots of extra money, I’d definitely look into buying land, sit on it for a couple of years, wait for the value to appreciate the re-sell it.

Hehe that is, if I win the lottery or suddenly discover I’m the long lost daughter of a billionaire..:)

4 Replies to “Our Dream Real Estate Buy..”

  1. Wow! Looks like you have a buyers market there. Don’t you have foreclosed real estate there? It could be cheaper, no need to win the lottery first. =)

  2. hi jay thanks for the tip. ill be looking into that though i wont have high hopes about foreclosed real estate here.. you see, banking is just on the start-up here so it’ll be a little hard to look for foreclosed deals.

  3. What’s the status of the prices now in Cambodia
    Your comment feature I thought is quite good but somewhat it’s very annoying, can you actually fix it and yes real estate is one of the best things a person can have and places near airports are quite peaceful but so it’s good if you find a place near it

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