Tuesday, 06 April 2010By Soeun Say
The Phnom Penh Post
Commentators say slump could reverse itself in the next year
LAND prices continued to fall in the first quarter of the year, according to the National Valuers Association, but analysts say the market could improve over the next 12 months.
Commercial and residential land prices dropped between 2 percent and 3 percent quarter on quarter, said Sung Bonna, president of the association.
He warned that values are likely to continue their slide through mid-year before rising again.
Commercial land in Phnom Penh was estimated to be worth $2,650 per square metre this quarter, down from $3,000, for the same period in 2009.
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