By Soeun Say
Bangkok Post
PHNOM PENH : Office rental prices in Cambodia's capital continue to tumble, dropping by as much as one-third in the first quarter of the year, according to the National Valuers Association.
"Prices have continued to fall because the supply of office space for rent is much higher than the demand," said Keuk Narin, general manger of the Bonna Realty Group and secretary of the National Valuers Association.
The prices are likely to continue to fall throughout the rest of the year, he said.
The NVA estimates that the best Grade A office space now rents for US$20 to $25 (650-800 baht) per square metre per month, down $10 from the final quarter of last year. Grade B rentals now go for $7 to $11 (230-350 baht) per sq m a month, a drop of about $3. Figures for Grade C offices are hard to compile as most of the properties are independently owned and operated.
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