Wednesday, October 21, 2009

Posco Star River



The world's leading construction company Posco E&C will realize new dreams in Cambodia.
POSCO E&C is an affiliated company of POSCO which is the world leading steel maker that has the world largest iron works.

The arriving of this giant group to Cambodia will help to restore and build a strong confidence on the real estate investment made by South Korean.

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Unusual high price of property in Cambodia

It should be not usual that property prices in Phnom Penh increased in some cases by as much as 1,000 percent from 2005 to July 2008-when the market crashed-with the most expensive and on the capital's riverfront rising about $5,000 per square meter, a more than 900 percent increase from $550 per square meter in 2005, according to statistics from Bonna Realty.

Why is it happened? The simple answer is that many sellers/buyers, banks and real estate agents just want to make quick cash gained from this dangerous business. And since many transactions have been made, it ends up with high price of property; cash is tied up in lands and no more buyers…

Still there are many lands or houses asking for sale but no buyers. Many estate agents in Phnom Penh have published their nice report for sale properties but not a fair one, sometimes, just normal villa house worth more than $1 million etc…How they measure those value of properties, is it real? Phnom Penh is still far behind New York, Paris, Bangkok or Singapore in term of infrastructure development.

Real Estate Development in Cambodia

Cambodia: New Investment Destination in Southeast Asia