28 September 2017
SIHANOUKVILLE, CAMBODIA - Sihanoukville has seen property prices skyrocket in recent years as Chinese investors pile in to the real estate market in the seaside resort. That’s good for the owners of real estate, but some wonder if a price correction might be on the way.

The port city, with its beaches and growing casino sector, has benefited from added infrastructure and is now a bustling resort with more visitors arriving each year. Developments at the port itself, the nearby special economic zone, and the airport have added much to the city’s economic activity. Local officials believe property prices may have plateaued.

Sihanoukville governor Yun Min said that due to the increase in the visitor numbers, Sihanoukville is enjoying rapid development and a rise in land and real estate value, which he says has doubled in the last 12 months. In some places, land values are quadruple what they were just a year ago. “Sihanoukville has gained many Chinese residents and tourists in these last few years.”

However, he added, “Land values in this province will be stagnant in the near future, and I sincerely implore those with money to come and invest in hotels, since the province is in great need of additional hotel rooms for guests to stay in.”

Economic experts have long held Sihanoukville as a province with great potential, as there has been major infrastructure and telecommunications investment. This includes expansions to the port and special economic zone (SEZ), which is now the biggest in the country with 110 factories employing 16,000 people. More and more people are using the airport, too, which now offers direct flights to a range of destinations, particularly Chinese ones.

A total of $310 million has been invested in recent years. Min believes the city will soon surpass Siem Reap as an economic centre because of its diversified activities, which include brewing, garment manufacture, and shoemaking. He said, “I firmly believe that about five years in the future, Sihanoukville will surpass Siem Reap due to its diverse potential, while Siem Reap will mostly depend on its tourism potential.”

Nuon Rithy, the CEO of Khmer Foundation Appraisal, stated that, due to the influx of foreign direct investment, the city is improving at a rapid pace. This is particularly true in its real estate sector. Some land in the Otres area has increased in value over the last year from $400 to $800 per square meter, while the value of the area adjacent to the coasts has shot up from $800 per square meter to $1,200 or even $1,500 per square meter...
http://www.phnompenhpost.com/post-prope ... -it-bubble

the province is in great need of additional hotel rooms for guests to stay in.

sounds legit

I'd love to know the stats on occupancy rates


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Anyone who buys land in SHV is a mug. Overpriced.

Even some Cambodian property managers are expressing some reserves about the growing Chinese real estate dominance in Sihanoukville.

2 October 2017
- Nant Thim, Sihanoukville Property Sales and Leisure Manager, raises questions about Chinese investors who are currently dominating the property market in Sihanoukville, wanting to turn the province into a Chinese city in the future.

Sihanoukville used to be a center for European investors who invested 75 per cent in the province, but with recent influx of Chinese investment, China has replaced Europe with 65% of investment in Sihanoukville, and most Chinese investors are investing in casinos, condominiums and hotels.

[Edited ...Positive pitch on the benefits of major Chinese investment projects like Blue Bay and The Seagate Suites for Sihanoukville.]

Nonetheless, Nathan raised concerns about the influx of Chinese investment in Sihanoukville.
He worries that in the future, when they manage the market, only Chinese investors will control the whole real estate sector in Sihanoukville, and they may raise the current rental prices, making it even more difficult for Cambodians to visit Sihanoukville at various festivals: Khmer Water Festival and Ben.

He also worries about small businesses, such as the tuk-tuks or restaurant owners, who will suffer when China no longer uses local services, as they prefer personal services, in stark contrast to the European ones who enjoy using the services provided by locals.
Full article (in Khmer): https://www.business-cambodia.com/chine ... noukville/

He worries a lot that bloke.
Sounds like he's got an axe to grind.

As I said. SHV is a mugs game for land purchase.

bangkokhooker wrote: ↑Tue Oct 03, 2017 8:41 am He worries a lot that bloke.
Sounds like he's got an axe to grind.

Sounds like a legitimate concern to me! Your own fellow citizens no longer being able to afford or find a place to stay. When they stay, "all inclusive" at these hotels do you think the small businesses are going to benefit?

Fourkinnel wrote: ↑Tue Oct 03, 2017 12:27 pm

bangkokhooker wrote: ↑Tue Oct 03, 2017 8:41 am He worries a lot that bloke.
Sounds like he's got an axe to grind.

Sounds like a legitimate concern to me! Your own fellow citizens no longer being able to afford or find a place to stay. When they stay, "all inclusive" at these hotels do you think the small businesses are going to benefit?

No idea but I personally do not know if all the Chinese do all inclusive. I do know that SHV Khmer population has also grown at a huge rate an know of many barang who's family have come to work in the Casinos, as Tuk Tuks and other jobs.

I do not follow this Chinese just buy off Chinese and do not spend in the local economy

Saying that I wish I could afford some land!