Since the Cambodia government issued a ban on online gambling in August 2019, the real estate market in Svay Rieng City in Bavet has begun to decline slowly. From August last year, the real estate price in Bavet had been dropped.
The president of KW Cambodia Real Estate said that the real estate market in Bavet is almost stagnate now, especially high-end real estate. The reason for the decline: the government’s decision to ban online gambling and the pandemic affected the closure of all entertainment venues. Therefore, in the absence of personnel transit and housing, the market will also change accordingly.
However, he said that the purchase of small size housing and cheap local land is still ongoing.
After three Chinese companies announced the establishment of a satellite city on 803 hectares of land, and the government announced the construction of a highway from Phnom Penh to Bavet, Bavet become the target of real estate investors again.
Kim Heang said that at present, land prices in the business district of Bavet range from US$200 to US$300. The price of the industrial zone is between US$30 and US$50, and it is located between US$5 and US$20 per square meter beside the highway. The price varies according to the location and size of the land. (Source from TNAOT)
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