Compass Real Estate > Cambodia Real Estate Information > News > Koh Rong will be form as "Koh Rong City", prompting a rise in the price of land unbelievable

Koh Rong will be form as "Koh Rong City", prompting a rise in the price of land unbelievable

2019-02-14
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Summary:Koh Rong Samloem will become another new city for Cambodia , according to a sub-decree issued by the government in January.

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In May 2019, Koh Rong and Koh Rong Samloem will become another new city for Cambodia, according to a sub-decree issued by the government in late January.
Previously, these islands are under the administration of Khan Mittapheap of Sihanoukville. But according to the recent release, the two islands will be created as a separate city from Sihanoukville.

Investment in tourism will increase dramatically after the island becomes a city. The islands are the largest coastal tourist destination in Cambodia. Thousands of tourists come every day, and more and more property development will flow into the region and land prices will increase. When the new city is to be established, many administrative buildings will be constructed and infrastructure will be built.

The land in the coastal area of Koh Toch Village in Koh Rong Samloem is currently worth more than $ 1,000 per square meter. Land far from the beach can cost between $ 100 and $ 200 per square meter. Some of the unpublished shares can range from $ 20 to $ 50 per square meter.
In general, this area is attractive for tourism. On average, there are about 2,500 tourists per day (5,000 people popular seasons, but there are only few people in quiet seasons). About 75% of tourists have been staying at least one night on the island. The island's home costs from $ 5 per night [typical house] and is worth hundreds of dollars per night For a luxurious bungalow house.

The decision to place Koh Rong and Koh Rong Samleem as a city will make the real estate sector better. Investors are awaiting legal ownership plans before investing in large projects such as hotels and apartments.
Royal Group company is an important developer on Koh Rong. The company has created a luxury resort on the island called Royal Sand Resort, and the land price is similar to Sihanoukville land price too, and the price on the beach is worth $ 2,400 per square meter . the establishment a new city It will reinforce the real estate activity more on this island.

The creation of new cities will make investors more confident in investing. At the same time, rental will be increase, while service will need to be improved to meet the increasing demand of tourists. "Lack of infrastructure, limited waste management, and logging and fishing Illegal laws have been a major obstacle to the development of the whole island, and besides Changing Koh Rong to become the new city, The sub-decree has also added two new of district  divisions in Phnom Penh: Boeung Keng Kang and Khan Kambol.

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