For the first time in years, land prices have stopped going up. However, they're not going down either. The volume of sales transactions has slowed considerably, but new deals for bigger pieces of land and buildings continues.
Late last year and earlier this year, Cambodia took steps to slow down lending, and they got the timing just right.
Several new hotels around SihanoukVille are still being built, and several existing hotels are expanding or renovating. The big rush now is for rooms from $50 to $150 and up per night, and not much on the low end.
Cambodia is one of very few places where the stock market hasn't dropped at all, thanks to not having a stock market. (but one is planned for 2009).
The slowdown of tourist to Thailand is affecting much of Cambodia, but tourism in SihanoukVille is still growing rapidly.
The SihanoukVille Port is doing quite well, manufacturing around town is steady to growing, not much news on oil exploration, but support services are still setting up in town, construction is definitely booming in the area, a power plant for electricity, and a dam for public water, and we're still waiting for KFC to show up.
That's it for now.....
Sunday, October 19, 2008
SihanoukVille real estate keeps rolling.
Posted by SihanoukVille at 2:16 PM
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