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Phnom Penh Caught Up in a Real Estate Boom

Land owners in Phnom Penh have seen a nearly doubling in value since 2005, as demand for space in the capital increases, businesses and residents told VOA Khmer.

The boom has surprised even the most optimistic property managers and real estate agents.

"There is momentum in land buying and selling, and the difference is almost twofold," Seung Bunna, who owns a realty company, said.

One resident in Russei Keo district said she sold her land for $10,000 in 2001, but to buy it back now would cost $200,000.