Cambodia’s Real Estate Is Recovering

[AKP]

The price of lands and houses in Cambodia has started to rise after it bogged down to the bottom, but this takes time to be on the full recovery, according to the president of National Valuers Association of Cambodia Mr. Sung Bonna.

As compared with the price in 2009 and 2010, this year the price of lands and houses show a good sign of recovery although it is slow, Mr. Sung Bonna who is also President of the Bonna Realty Group and Vice-Chairman of Real Estate Developers Association, told a two-day training seminar on Real Estate Valuation held here last Friday.

Representatives from various real estate companies, banks and micro-financial establishments attended the seminar, the third of its kind. Mr. Sok Siphanna, economic adviser to the Royal Government of Cambodia was also present on the occasion.

The training seminar is very important for it can tell the evolution of the real estate in the world as well as in Cambodia and its evaluation, the obligation of property owners for both Cambodian and foreign citizens and the process of the request for ownership and its impacts, Mr. Sung Bonna said.

For his part, Mr. Sok Siphanna said the seminar is in line with the government’s policy to promote the progress in all fields for the sustainable national economic development.