When selling your home, should you stick with one real estate agent or list your property through multiple agents? Both options have clear advantages and disadvantages that sellers may want to consider before deciding. Listing with Multiple Agents:- If you want to make a quick sale, listing your property with multiple agents would seem like a logical choice. And there’s a good reason for that. You get more exposure. These professionals can utilize different avenues such as the newspapers, buyer networks and internet property listings to spread awareness for your property. More exposure means a gathered interest from a larger audience.- The downside to using multiple agents though is that you’re working with a range of people and various sales strategies that are often times totally different from each other. This also entails that there are different degrees of understanding as to what type of buyers are qualified for the sale. This may mean the information about your property becomes different than you first intended as it travels between agents and their networks - which will mean the buyers they present are not necessarily sold on the correct info.  - Hiring multiple agents also means that negotiations will be done in isolation. The ones competing won’t be the buyers but the actual agents. This hurts your cause because you might find out too late that someone else may have made a higher offer.- There is also the risk of running into “commission cowboys”. These are self-professed private agents who will do anything to make a sale. This doesn’t always get you the best buyers.Listing with an Exclusive Agent:- The thing about listing with an exclusive real estate agent is that their sales strategy – if it’s the right strategy – it can save you a whole lot of time and effort. It focuses in on making sure that you get a good deal, with the right buyer without demanding too much. This also offers the agent more flexibility to adjust their strategy based on your needs and on the current market’s feedback.- You can hire a professional that specializes in your kind of property too. It is important to note that one effective person can outdo a hundred ineffective ones. Make sure you choose your agent wisely.- Having an exclusive real estate agent also makes it easier for the buyer. Buyers would rather think about their personal needs more than they think about which agent they should contact. Keeping everything singular eliminates any possibility of confusion and makes it more convenient for buyers to make an offer.- Exclusive agents also sometimes package property management services into the mix as a form of incentive. This is something you won’t get from multiple agents.- The downside to this is that information about your property is limited to the stream of influence your agent has. Your reach is much more contained.Want to learn more about how you can make money by investing in real estate wisely? Get on Realestate.com.kh today!Ready to make a listing? Sign up for an account with us now!

Vann Molyvann, considered the founder of the modern Khmer architecture, completed nearly 100 projects both nationally and abroad between 1956 and 1970. The impact of his architecture is felt around numerous corners of the Kingdom - with many still applauding his architectural style.Ms. Tri Lida from Re-Edge Architecture & Design refers to Molyvann as “the father of Cambodian architecture” - holding a “unique ability to incorporate Khmer style with natural elements, creating sustainable buildings where the air and sunshine flow from the inside out.”Some of Molyvann’s most significant projects are the Independence Monument, the National Olympic Stadium, the Royal University of Phnom Penh, the Chaktomuk Conference Hall, Preah Suramarit National Theater, the Council of Ministers building and the State Palace in Chamkarmon – now the place of the Senate.There are also several of his projects which are less known by the general public; such as the stupas within the Royal Palace, the Kantha Bopha Hospital, the first Siem Reap airport and the pavilions and temples for the 2,500th anniversary of the Buddha.Aside from the many projects he completed within the Kingdom, Molyvann also worked on projects abroad such as the Exhibition Hall for the International Trade Fair in Osaka, Japan, the Exhibition Hall For the International Trade Fair of Zagreb, the Exhibition Hall at the International Trade Fair of Brno, Czechoslovakia, and the Exhibition at the Galleries Lafayette in Paris.However, when asked his most loved architectural projects, these are all national - although not all are still in existence: “The ones I love the most is the National Olympic Stadium and Preah Suramarit National Theater on Bassac in Phnom Penh. There are many other projects I was fond of, but unfortunately some of them have been replaced​ by new buildings or were destroyed,” said Mr Molyvann.The demolition of old architecture is a recurrent issue in Cambodia, which the photo expert and owner of the “Amazing Cambodia” photo archives, Mr Srin Sokmean, has likewise noted: “It is a great pain to witness those architectural heritages disappear one by one. I always question myself why they are destroyed and not suitably renovated.”This is what pushed him to produce a vintage photo collection book named “Cambodia: Half Century Then & Now” which aims to enable people to visualize the beauty of Cambodia in the past and how the current landscape has been modified. On top of this, Sokmean has a popular facebook page and blog demonstrating his collections of photography. “I strongly believe that redecoration is the best option, because each building has its own attractive point. Development and architectural conservation need to go together” he added.“Old buildings are not always useless; instead they can be perfectly converted into museums, art galleries, boutique hotels or other amenities,” he concludes.And Sokmean is not the only one trying to preserve national heritage via media platforms. Mrs. Teav Bandol of Image Printing also shares a similar concern that, “during development, many countries face the dilemma of whether to preserve or replace heritage buildings to give space for new development; sadly most countries choose the latter. Cambodia is no exception.”She continued, “It should not be destroyed but preserved. Both old and new architectural work must be kept in its place in order for the public to witness the evolution from one generation to another. Doing so will help us to preserve the national identity and maintain sustainable development.”With that in mind, Image Printing is planning to re-publish some books detailing Vann Molyvann’s works in order to ensure his contributions reach the next generation.Bandol mentioned that the publication of these books are not just for the purpose of preserving Van Molyvann’s buildings – but it’s also “a demonstration of intelligence, knowledge and innovation in the architecture industry - which is a good example for the new generation to follow.”“Moreover, we cannot regain a building that was destroyed, but we can save every document for next generations,” she concludes.Find the latest real estate news on Realestate.com.kh

With strong growth prospects and a boom in the real estate and construction sector, more and more investors and developers are shifting their investment towards the Cambodian market.To showcase the leading development and investment opportunities that Cambodia has to offer, Realestate.com.kh is organizing the Cambodia Real Estate Show. The show will be held on the 5th and 6th of May 2017, at the grand ballroom on the second floor of the NagaWorld Hotel, Phnom Penh. NagaWorld is Phnom Penh’s only licensed casino, and the #1 destination for regional investors staying in Cambodia.The event will invite thousands of local and regional property investors, and help these property seekers understand how to safely invest in this exciting market.With the help of its strategic media partners, Realestate.com.kh is extensively promoting the event locally as well as internationally, to attract all the potential investors of the ASEAN region and mainland China. Official Media Partners of the event are: Business Cambodia, Bizkhmer, Khmernavi/Enjoy Cambodia, Sin Chew Daily, B2B Cambodia, Amcham, Britcham, Cambodia Constructors Association (CCA), Cambodian Valuers and Estate Agents Association (CVEA), PropertyGuru, Property Report, Asian Property Review, PropertyGuru International, Juwai.com, the Khmer Times and La Reine.Thus far, the Cambodia Real Estate show already has over 1500 people registered to attend the show, all of which have registered through our English and Chinese event pages with their phone number and email addresses. A further 1300+ 'interested' in attending on the facebook event page. Being a free event to attend, these numbers are very promising. Additionally, a substantial influx of attendees is expected to come from  within out venue, NagaWorld - as in-room advertising and banner displays advertising will be done during the event days.This event will feature local and international developers, as well as related business with a focus on the property sector and a high value audience. The event is sponsored by Last Mile VR, Seara Sports and Ezecom; and some of those who have already booked their space are: Camhomes/HLH Group; Habitat Condo; Royal HM Trading; Sky31 Condo; NC Maxworld Real Estate & Development; Core PPSEZ; VKirirom; HighLand Condo; GRED/ One Park; Parkway Condo; Elements Condo; Golden One; SC Capital; SkyTree Condominium, Porsche, Mercedez-Benz and Sing Meng Telemedia.During the two days of the Cambodia Real Estate Show, insightful seminars will be run by renowned experts of the industry, including: Sok Siphana, Managing Partner at Sok Siphana & Associates and a member of Zicolaw; Matthew Rendall, Senior Partner at Sok Siphana & Associates, a member of Zicolaw; Anthony Galliano, CEO of Cambodian Investment Management; Jasper Shin, Developer and Real Estate Agent Consultant; Christophe Forsinetti, Chief Operation Officer at JSM Indochina; Simon Griffiths General Manager at Metro Global Pte Ltd and Takeshi Izuka, President of vKIRIROM; Athanasius Pang, Brand Principal, DL Edvance; Jo Chua, Head of International Developers Business for PropertyGuru Group; Benny Tan, Principal Consultant at SC Capital; Tom O’Suvillivan, CEO at Realestate.com.kh; William Nai, Principal Consultant at SC Capital.The Speakers will cover different topics, and all participants will have the opportunity to learn about the following:Economic Growth Prospects in Cambodia, The gateway to the ASEAN Region.vKIRIROM Project DevelopmentForeign Ownership in Cambodia: Regulations and PracticeIntegrating Security to Increase Property ValueTax for Investors: Real Estate Tax Considerations for Cambodian Property OwnersHow Singaporean Investors View The Cambodia MarketThe new Landscape of Property Management in Phnom PenhConsumer Trends in the Cambodian Real Estate MarketIndustrial property & SEZ Investment in Emerging Markets & Benefits of Manufacturing in CambodiaInvestment Opportunities in Chroy ChangvarSihanoukville Rising: Cambodia's Coastal developmentInfrastructure Developments in Cambodia: An emerging hub for ASEAN investorsManaging your Asset: Property Management Considerations For Investors.Cross Border Data Penetration and market Verticals for Real EstateAdmission will be free for all the attendees, so don’t miss out!Register here for FREE:For sponsorship or exhibitor opportunities:Find the best real estate news on Realestate.com.kh

Register for FREE to attend the show!Cambodia’s real estate sector is attracting the attention of investors from around the region and the world. The property market has grown phenomenally in last 5 years, and major cities are demonstrating some of the highest urban expansion and population growth rates in the region.Despite remaining an “emerging market”, Cambodia is demonstrating lower risk than this label usually suggests - demonstrating strong fundamentals for property investors and regionally high yields, which has already attracted a multitude of international development companies from around the world to launch projects:Why Invest In Cambodian Property? The Fundamentals:US$ Investment Economy: Invest in the world’s most resilient currency as Cambodia has long been a dollarized economy and will continue to be.Virgin Investment Territory: Enormous growth potential and very positive appreciation trends in recent years.Strong, Sustained Growth in GDP: 5% average for the last 5 years, year on year. No. #21 worldwide in growth, and No. #1 in the region.Secure Assets: Freehold Foreign Ownership Laws that have been successfully supporting investor’s since 2010.Strategic Location: Sandwiched between two strong economies, Thailand and Vietnam; Midway between the world’s largest and fastest growing economies, China and India; and sitting between Australasia and Asia, with trade agreements connecting it to both.Political Stability: The country has had the same Prime Minister for more than a quarter of a century, the longest serving non-royal leader in South East Asia.Trade Integration & Regional Logistics Chain: Joined ASEAN for increased access to regional markets; LDC status gives tariff free access to highly developed markets in Europe and Americas; Cambodia is firmly part of China’s “One Belt, One Road” policy.Improved Logistics: Deep sea port, railways, roads and flight connections around the nation and Asia growing yearly.Retirees’ Mecca: Due to a unique, low-cost quality of life.A Cash Economy: Money flows inside and outside of Cambodia are simple and cost-effective for international investors.Developments of all varieties are rising fast across the nation, giving buyers a wide range of options to choose from, with investment properties suited to all budgets and needs. However, purchasing the right property is an important decision that requires diligence and a full survey of the strength of that financial investment - which can be difficult for those investors residing outside the country.For this reason, Realestate.com.kh, Cambodia most visited and most preferred real estate portal, is hosting the most comprehensive Cambodia real estate show in the nation’s history. The Realestate.com.kh Cambodia Real Estate Show will take place on the 5th and 6th of May 2017 at the country’s most famous Hotel and Casino: NagaWorld.The event will be a one-stop exhibition where buyers can simultaneous survey the country's hottest property offerings and learn the necessities of an informed and secure investment decision in Cambodia.The Creed Group, HLH Group/Camhomes and Graticity Real Estate Development (GRED), Habitat, NC Max World, J&L Property Development, EASTLAND, CORE PPSEZ, DH3, Royal HM trading, Sky 31, Vikirirom Pine Resort, among others, have already booked their booth space.Silver Sponsors of the event: LASTMILE WORKS Co., Ltd and Seara Sports Systems.Seminars and speeches by local consultants will be running throughout the two days to promote understanding of the legal climate in Cambodia and the best ways for investors to manage their property assets in country. Those seminars will have the objective of promoting knowledge and establish confidence in purchasing a property in the Kingdom.Realestate.com.kh’s unique partnerships with marketing channels such as the PropertyGuru Group (Asia’s largest and most visited real estate portal group) and Juwai.com (China’s #1 website for Chinese buyers looking to buy purchase property abroad) will attract serious international buyers for the two day show. Local marketing will also be comprehensive, targeting both the expatriate population and high-net-worth local property investors. The show is strategically being held at NagaWorld Hotel, the first choice for accommodation in Phnom Penh for Asian investors, dignitaries and business people.Mark the Cambodia Real Estate Show in your calendar on the 5th and 6th of May 2017 now and book your flights. Get ready for the biggest property show in Cambodia’s history.Business Cambodia, Bizkhmer, Khmernavi, Sin Chew Daily, B2B, Amcham, Britcham, Cambodia Constructors Association, Cambodian Valuers and Estate Agent Association PropertyGuru, PropertyGuru International, Juwai, Khmer Times and La Reine.For sponsorship or exhibitor opportunities at the Cambodia Real Estate Show, please contact us at info@realestate.com.kh or call +855 98 67 67 82Find the best real estate news on Realestate.com.khRegister for FREE to attend the show!

Former Winners and new entrants go head-to-head in the country’s biggest annual real estate eventMaster developer Shukaku leads the race with a total of 5 nominationsSupport from various sectors have poured in, including top business associations and media outfitsMore than 300 guests are expected to attend the 24 March gala at Sofitel Phnom Penh Phokeethra PHNOM PENH, Cambodia – 23 February 2017Eleven of the Kingdom’s leading real estate developers have made the shortlist for the second annual PropertyGuru Cambodia Property Awards 2017.More than 30 projects located in prime investment destinations across Phnom Penh, Siem Reap and Sihanoukville joined this year’s competition, with the Winners and Highly Commended set to be revealed at the black-tie gala dinner on Friday, 24 March at the prestigious Sofitel Phnom Penh Phokeethra.Shukaku, a residential and commercial developer based in Phnom Penh, leads the list of official nominees, with a total of five nominations across the Development and Design categories, including Best Housing Development (Phnom Penh) and Best Retail Development. Its corporate headquarters, called ‘The Vanguard,’ is nominated for Best Office Development and will go up against two-time nominee TACC (C.R.) Ltd, developer of the mixed-use project called ‘The Gateway.’After several months of screening, deliberations and site visits, the Awards’ nine-member independent judging panel led by chairman Sorn Seap, founder and director of Key Real Estate Co Ltd, will meet one last time to finalise their assessment under the guidance of official judging supervisor BDO, the world’s fifth largest accountancy and auditing firm.“I certainly gained a lot of new knowledge from the other judges, who possess different skills than myself, at every stage of this competition,” says Sorn, who was elected head judge earlier this year. “In the last six months we exchanged expert opinions and technical considerations, and discussed various strengths of each entry. I feel so proud to be a judge for the Cambodia Property Awards 2017.”He adds: “The property boom in the past 10 years has seen a drastic change. In 2007 there were only two high-rise buildings in Phnom Penh – now we have hundreds across the city. Land prices have also grown exponentially for up to 75 percent in the last decade, and certain developments have been valued between USD3,500 and 4,500 per square metre. This growth has made the Cambodian real estate market very attractive for investors in the region and Asia.”Top country winners in Cambodia will be moving forward to the two-day PropertyGuru Asia Property Awards grand finale this November in Singapore to compete for more regional accolades.Hari V. Krishnan, CEO of PropertyGuru Group, comments: “We’re delighted to be back in Cambodia for a second year to promote the best projects and help property seekers in identifying the best developers to target for their dream homes and property investments.“Cambodia real estate has grown tremendously in the last few years, and we look forward to bringing lessons from the more established regional markets to this country, to assist with the maturation process. PropertyGuru Group’s presence in Cambodia through the Asia Property Awards helps us progress our company mission of helping people make confident property decisions."With much fanfare and media coverage, the inaugural Cambodia Property Awards in February 2016 was attended by more than 300 high-profile guests and VIPs, including His Excellency Dr Pen Sophal, representative of His Excellency Senior Minister Im Chhun Lim, who gave the keynote address.The 2017 event aims to surpass last year’s guest list. Support from various sectors have poured in, including Royal HM Trading Ltd and Jotun (Cambodia), the year’s co-sponsors, official property portal Realestate.com.kh, supporting associations European Chamber of Commerce Cambodia and British Chamber of Commerce Cambodia, and media partners Southeast Asia GLOBE, Construction & Property, and Property Report magazine.Other companies that received multiple nods include: Habitat, which is vying for three awards including Best Condo Development (Phnom Penh); twice-nominated Courtyard by Marriott Phnom Penh from developer Khou Investment Co., Ltd; and Les Bijoux d'Angkor, which is up for two awards.“Cambodia is a small but certainly fast-moving market, with plenty of room for everyone, and it’s a delight to see these returning and new developers joining the Asia Property Awards,” says Terry Blackburn, founder and managing director of the PropertyGuru Asia Property Awards.“There has always been a huge potential in Cambodia real estate, especially in the affordable housing segment, given that the Cambodian finance sector is more consolidated compared to other neighbouring countries in ASEAN,” he continues. “The Awards programme gives the local industry a big push for innovation and opportunity to continue raising the bar of excellence.”Before the much-anticipated gala dinner and ceremony, the editors of Property Report will also name Cambodia’s Real Estate Personality of Year, whose influence and achievements resonate across the kingdom.Tickets and partnership opportunities for the Cambodia Property Awards 2017 are still available. For details, email info@asiapropertyawards.com or call +66 (02) 204 9555.Below is the full shortlist of the PropertyGuru Cambodia Property Awards 2017:DEVELOPMENT CATEGORIESBest Condo Development (Phnom Penh)Habitat by HabitatThe Gateway by TACC (C.R.) Ltd Best Housing Development (Phnom Penh)Grand Star Platinum by Borey Peng Huoth GroupResidence90 by Shukaku Best Residential Development (Siem Reap)Les Bijoux d'Angkor by Les Bijoux d'AngkorPhum Barang by MTP Invest Best Office DevelopmentThe Gateway by TACC (C.R.) LtdThe Vanguard by Shakaku Best Retail DevelopmentCopper Cambodia by LMYP Co., LtdThe EDGE by Shukaku Best Hotel DevelopmentCourtyard by Marriott Phnom Penh by Khou Investment Co., LtdSun and Moon Urban Hotel by Ada / LBL International Best Mixed-Use DevelopmentD’Seaview by Camhomes (Under HLH Group)The Gateway by TACC (C.R.) Ltd DESIGN CATEGORIESBest Residential Architectural DesignHabitat by HabitatResidence90 by Shukaku Best Residential Interior DesignHabitat by HabitatLes Bijoux d'Angkor by Les Bijoux d'Angkor Best Retail Architectural DesignThe EDGE by Shukaku Best Hotel Architectural DesignSun and Moon Urban Hotel by Ada / LBL International Best Hotel Interior DesignCourtyard by Marriott Phnom Penh by Khou Investment Co., LtdRosewood Phnom Penh by Rosewood Phnom PenhSun and Moon Urban Hotel by Ada / LBL InternationalMore information are also available on the official website: AsiaPropertyAwards.com/Cambodia-Property-Awards/Borey Peng Houth, winner of the Best Developer (Cambodia) title at the first-ever Cambodia Property Awards, returns with a single nomination for its critically-acclaimed Grand Star Platinum project in the Best Housing Development (Phnom Penh) category. Already a double winner in 2016, Grand Star Platinum enters the awards race again due to further development and construction in the property.SPECIAL AWARDPhum Barang by MTP InvestNote: The Winners in the Best Developer, Best Residential Development (Cambodia), and Best Commercial Development (Cambodia) categories will be announced during the gala dinner on 24 March 2017. The Cambodia Real Estate Personality of the Year winner will be revealed by the editors of Property Report before the event.For up to date news and information, visit our news section at Realestate.com.kh now.

The Cambodian Valuers and Estate Agent Association (CVEA) will be organizing a public forum on “ Legal Ownership in Cambodia ” for all stakeholders and workers in the real estate sector to discuss topics on legal property aspects.  The upcoming Legal Ownership in Cambodia public event will mainly focus on four significant segments which included:Types of property titles in Cambodia from 1979 to 2017How to transfer property title and stamp duty for both soft and hard titleHow to calculate a yearly property’s stamp duty and unused land taxHow to prepare the property, buying, selling, and leasing contractThe Legal Ownership in Cambodia event will be held on February 26, 2017 from 7:30am to 12:00pm at the Cambodia-Korea Cooperation Center (CKCC) in Phnom Penh.The Legal Ownership in Cambodia forum is open to all real estate industry experts, students, and to the general public in order to promote knowledge sharing and learn in regards to Cambodia’ property ownership laws.Entrance will cost $5 for BBA students and $10 for the general public.CVEA members can send up to three representatives from their company free of charge.For more information and for registration about the Legal Ownership in Cambodia forum,  contact Mr. Moth Vanneth through:  Phone: 069 211 268/ 069 527 944, Email:   vanneth@cvea.org.khFind out more the latest real estate news on Realestate.com.kh

In the past years Phnom Penh’s lifestyle has seen a rapid shift from traditional to a more modern one. People are changing their mindsets as well as way of living; within real estate this can be seen in the fast rise of condominiums and borey, which have given local market its necessary momentum.Currently, those interested in investing in a property in Cambodia can enjoy a very high offer; of course, caution should still be applied when choosing any project. The ministry warns the buyers to ensure that the projects for purchase have legally obtained licenses from the relevant ministries. As a matter a fact there is already a number of projects in the city have been declared illegal, thus buyers must be extra careful.Luckily the majority of the projects provide confidence to the public due to their reputation, experience, quality, and the investment opportunities attached to them. Realestate.com.kh has gathered some of the​ best borey in Phnom Penh whit a price range of $40,000-300,000:1. Borey Peng Huoth has been a popular project for quite some time now. It is located in well developed areas including Peng Hout Oknha Mong Reththy street,  Peng Huoth Phsar PC market, and Peng Huoth Road 6A. A unit at Borey Peng Huoth, starts at $60,000 and works its way up. Borey Peng Huoth also won the Best Residential Development Property Awards for 2016 and it has gained confidence from customers for its quality of construction, stylish housing design and years of experience. Borey Peng Huoth recently completed several projects and is also planning to start projects that will include The Star Premier -- located along Chea Sophara Road -- and The Star Premier Project which will be located along Highway 6A. You can contact them for more information and to purchase your dream house that may come in various types and sizes.2. Borey The Mekong Royal is a development project by the Mekong Phnom Penh Development Corporation Ltd. It is located along National Road 6, near the agricultural school Prekleap. Plans on developing and improving infrastructure for this area have already been discussed with local government, in order to address important issues such a traffic congestion and accessibility. Road No. 6 also connects to the big provinces Kampong Cham, Kampong Thom, Siem Reap, etc. Borey The Mekong Royal is also accompanied by a nice river view and enormous investment opportunities. There are many types of residences offered, such as villas, link houses, and shophouses, with starting prices at around $100,000. This Borey project is most suitable for safe and modern Khmer living.3. Borey New World has 10 years of experience in developing housing and has build up to 10,000 residential units to date. The company offers both reliability and quality for buyers. Borey Piphup Thmey is located near Boeung Chhouk, Phsar PC, Camko City, and Chamka Dong. Its strategic location is also in proximity of the potential investment area of Chea Sophara Road and Takmao. Units at the Borey Piphup Thmey have a starting price of $60,000.4. Borey Phnom Penh Thmey is another Borey located in the Municipal development, where there are currently eight ongoing projects along Chea Sophara Road. Unit prices range anywhere from $100,000 to $500,000.5. Borey Maha Sensok is a housing project under the development of the Japanese Company Creed Group. There are approximately 683 residential houses built on an area of ​​114,005 square meters. The project offers different types of villas, business units and a park pool water gym. This starting price is at $ 40,000.6. Borey Angkor residential accommodation provides high living standards and each construction project follows aesthetically-pleasing and topnotch quality. The development will offer property types such as villas, twin villas, link houses, and many more. Housing projects built by Borei Angkor has always gained support from buyers and investors, suggesting high confidence in the developer. You can check out the Borei Angkor I, Borei Angkor II and Borei Angkor III projects today. Starting price from $100,000.7. The Borey Hi-Tech Luxury project is one of the most popular projects in Phnom Penh. It is located 800 meters from Monivong bridge. The housing is built with great quality materials and offer both single and twin villas with a starting price of approximately $300,000.8. The Orkide Villa is a residential property in the city which is conveniently located in Sen Sok at Teuk Thla. New projects are situated along National Road 6A. Residential units are priced from $150,000. Beyond housing projects, they also offer various amenities like a swimming pool, a park, a playground, and a recreation center.9. Grand Phnom Penh has been completed outside the capital, in the satellite town project in Khan Sen Sok. Grand Phnom Penh residence offers several different types of properties, like villas and shop houses of varying size. The price ranges from $100,000 to $200,000 and up. It has modern aesthetics and comes with in-house security to help families to feel safe.10. Borey Lim Chheang Hak is a construction company and housing project that was founded in 1990. It is one of the leading construction companies who’ve built residential units for families in Phnom Penh through careful analysis of the needs of its customers. They are continuing to grow and gain recognition in Cambodia. They have and continue to build numerous projects located in Chom Chaov, Chomkardong, Stung Meanchey, Veal Sbov, and Phnom Penh Thmey. The company offers various property types such as villas, flats, and shophouses. The sales price for individual units start at approximately $60,000.Borey in Phnom Penh have significantly increased, which led to a more competitive market and improved construction standards. This has allowed them to offer a modern and comfortable lifestyle with international quality standards. Find out more about Borey projects on Realestate.com.kh

The First Wealth Management Forum will be held in Cambodia at the Sokha Hotel Phnom Penh, the 16th and 17th of February.The Wealth Management Forum will be a two days comprehensive event, which will merge three major exhibitions: Property Forum, Marketing Exhibition and the Startup Exhibition.It is a three in one event which aims to create a forum in regards to financial education for the general public, give the chance to companies to present their products and services, and to create a network opportunity for entrepreneurs and investors.Miss DEK Davy , who organized the event, stated that in Cambodia the number of financial institutions and companies is increasing however, the overall knowledge in regards to this topic is still unsatisfactory.This forum therefore, has been created with the objective of bringing together various companies to present their products and experts in the field, to promote knowledge sharing and learning opportunities.More than 20 new businesses launched in 2016 will be given free exhibition stands, and the chance to meet potential investors. The event will be divided in eight sessions and will feature several speakers, who will share their experiences and give the chance to the public to ask questions.We are really excited about the event and would like to thank our sponsors for their support: Metfone, Phillip Bank Plc, Canadia Bank and Sovannaphum Life Insurance.Register today: www.wealthbuildingcambodia.com To buy tickets please call: 023 694 4444 / 071 3333 208 Seminar entrance ticket is 25$ and 15$ for students.  Special discount for early bird tickets.Find the latest real estate news now on Realestate.com.kh

Condominium as an investment:In recent years, developers have shifted their development focus towards modern condominiums in order to satisfy the needs of the current and upcoming generation.  A condominium is now a popular type of modern, and luxury living space. Condos have very special characteristics that differentiate them from other types of residential properties in Phnom Penh. It caters to the needs of the working class, offering convenience as traffic worsens. Moreover, condominiums are the perfect choice for those who want to live in proximity to the commercial hubs of the city, schools, business centres, and other amenities which offer you high standards of living.Investing in a condominium is a big step and investors need to be certain that they are making the right investment decision, to prevent money loss, overspending, or wasting time on unnecessary problems. If you are considering investing in a condominium in Phnom Penh, you should consider several factors. Although investing in property is a vast subject area, this article aims to offer valuable information in respect to the factors that those future buyers should consider.If you're interested in other topics related to investing in Cambodia, you need to read our Investment Guide 2019. What are the hottest areas for condos in Phnom Penh?When talking about potential areas for investing in condo in Phnom Penh, Khan Chamkarmon has 4 Sangkats that display high potential. These are BKK1, BKK2, BKK3 and Toul Tom Poung. There are already few condo investment opportunities in these areas such as the Imperial Crown Condominium, and the 88 Suite Condo.Other condo projects in Khan Chamkarmon include (but not limited to) the East View, East commercial Centre,  The Penthouse Residence, The Bridge, Habitat Condo.Does Toul Kork have any potential for condo developments? And how about other Khans in Phnom Penh?Recently, Toul Kork became a target for residential developments as well as businesses. Although this area is not as developed as Chamkarmon yet, it is set to become a big residential area in the near future.There are already few developments in Toul Kok which will be soon completed, such as the TK Royal One opposite to Royal University of Phnom Penh, Apennines in Boeung Kak 2, The Gateway which is so close to Parkson Mall along Russian Blvd.What type of customers are best-suited for condo living?Living in a condo entails a modern way of life focused on convenience, comfortability, and security. Majority of the condominiums are occupied by foreigners while Khmer nationals prefer a more traditional lifestyle and chose to live with their extended families in landed houses. However, this trend might change in the upcoming years, and Khmer nationals are predicted to switch their focus on villas and condominiums.Which areas do expats prefer to live in?Chamkarmon:The four Sangkats of Chamkarmon are the most preferred areas of living for expats. As mentioned, these are the BKK1, BKK2, BKK3, and Toul Tom Pong areas. These areas are very popular because are filled with businesses and entertainments such as: pubs, coffee shops, bars, karaokes, clubs, fitness centres, restaurants, and many other service-centered businesses.Daun Penh:Khan Daun Penh is another popular area among expats. This areas is also offers several entertainments but also features tourist attractions such as the riverbank and the royal palace. There are a few sangkats where expats are fond of such as Sangkat Phsar Kandal 1,  Phsar Kandal 2, Phsar Chas, and Sangkat Chey Chum Nas.Are you looking for a professional property management for your condo investment?Property management services include operations, control, and oversight administration of residential properties. The administration takes the overall control of the property on behalf of the owner.  When considering purchasing a condo, make sure you research the property management firm taking care of development. Remember: this firm will take care of the management of all the common areas and services offered in the condominium, it is therefore crucial to the firm's capabilities and experience. Learn more about Lack of Quality Property Management may knock Investor Confidence in New Developments Market!Are you a foreigner wanting to invest in condo? Here are your ownership rights:Foreign nationals are unable to buy land  and landed property freehold within Cambodia, in accordance with the Land Law of 2001 and the Cambodian Constitution, unless a landholding company is set up with the majority of shares being held by a Cambodian citizen or citizens.Nominee Structure: This structure or method is used by some foreigners to own land or landed properties in the country. It’s fast, easy, and inexpensive. Basically, real property is bought by the foreigner. The property title is then transferred into the Nominee’s name. Once titles are received, a lease and/or mortgage is registered through the Sangkat office. The security documents are also signed in Khmer and English. The foreigner then holds the property title.Strata title: A strata title is a form of ownership certificate for units in a co-owned building. There are also a number of laws, policies, and amendments made in Cambodia to safeguard the condominium and strata titling mechanism. One of these is that foreigners cannot own a grounded unit. They also cannot own more than 70% of the units of the building.For detailed information on Strata Titles, check out our Strata Title GuideTax obligation: A co-ownership title transfer costs around 4% of the value of the property which is evaluated and set by the cadastral official.Is an off-sale condo a worthy investment?Off-sale refers to the purchase of condo units before the completion of the construction. The off-sale unites are usually quite appealing due to their discounted prices and can offer a quick return on investments. However, developers often tend to delay their constructions and buyers are advised to consult a knowledgeable attorney and insert their own conditions in the agreement, especially in regards to the completion date and the deposit.Why should you consider investing in Condo in Phnom Penh?International investors are rushing in the Cambodian capital, Phnom Penh, seeking a share of one of the region's last frontier property markets.Price Comparison with neighbouring countriesCambodia offers a wide range of luxury accommodation. It also offers a high standard yet affordable lifestyle, compared to the neighboring countries. In the Global Retirement Index report, Cambodia ranked 1st among 23 countries for having the lowest cost of living. Therefore, is not surprising that an ever increasing number of expats searching for a better quality of life over the past several years,is relocating to Cambodia.According to Bonna Realty, the price for grade A condos lies between $2,300 to $5,791/sqm; Grade B+ at $1,718 to $3,725/sqm; Grade B $1,000 to $3,000/sqm; and Grade C around $789 to $1,700/sqm. In comparison, according to the CBRE Vietnam report, in Vietnam the average sales price is at $2,046/sq.Instead in Bangkok, there are six categories of condos: the Super Luxury is above $7,058/sqm, Luxury is at $4,799 to 7,057/sqm, High End is at $3,387 to 4,798/sqm, Upper-Mid-range is at $2,541 to 3,388/sqm, Mid-range is at $1,976 to 2,540/sqm, Entry Level is Below $1,974/sqm. (CBRE Thai report).Future Market Supply of Condominium Units in Phnom Penh:According to CBRE Cambodia’s Marketview report Q2 2016, the addition of 22,464 units will raise the total supply to 25,250 units by the end of 2018, marking an 806% increase. Additionally, Knight Frank estimates that by 2020, 74 projects will add 24,533 units to the residential condo market, marking a sevenfold increase in total supply, with a growth of 723.5%.An even bigger prediction is made by Century21 Cambodia, forecasting that or future by 2020 the total supply of completed condominium units will reach a rounded figure of 37,570.These forecasts suggest that Cambodia is developing quickly and investors are showing great confidence in the market. An ever increasing number of foreigners is considering relocating to Asia. Are you one of them?Take a look at these finished new developments at Phnom Penh now!

“Topping out” is the term given to the last stage of structural construction. The highest mixed development namely The Bridge has successfully achieved a topping out in December 2016 and well celebrated the special occasion at a private event in Sofitel on Friday the 13th of January.The Bridge set to be the iconic development of the Kingdom is a Singapore-Cambodia joined venture between Oxley Holdings and Cambodia's WorldBridgeLand. The developer has reportedly committed more than $300 million investment for this twin tower project. It is expected to complete and deliver to its buyers on time by the year 2018.Although several developments are taking place in the capital, The Bridge complex overseeing Diamond Island and Bassac River, is certainly an art of its own class to redefine the landscape of Phnom Penh. The building also enjoys good Feng Shui to enhance the lifestyle of the owners whether they are buying the units for own stay or doing business. The Bridge, directly opposite the Australian Embassy in the Tonle Bassac district, is located in the very heart of Phnom Penh. Coupled with full condo facilities, office spaces and a lifestyle shopping mall, the prime location offer the residents and commercial users an excellent choice to live, work and relax in the same complex.The developer is currently working on their second project, The Peak hotel mixed development located approximately 100 meters from The Bridge. The peak set to complete by the year 2020 and will serve to complement the lifestyle and work expectations in this city center Take a look at Oxley's next upcoming project The PEAK...For those interested in The Bridge or The Peak, please visit Oxley WorldBridge’s showroom at Great Disciple Sar Bith Street, Village 14, Khan Chamkarmorn, Sangkat Tonle Bassac, Phnom Penh (Opposite Toyoko Inn) or Find out more information about The Bridge here.

The Siem Reap province is located in the northwest area of ​​the country, along National Road No. 6, about 314 km from the capital city. Siem Reap is one of the three country's major economic areas. The other two areas include the Phnom Penh Commercial City and the port city of Sihanoukville. Siem Reap is also home to the world's famous tourist destinations known as the Angkor Wat temple. What are the types of houses for sale Siem Reap?The residential sector in the province surrounding Siem Reap is rapidly growing; with inbound tourist numbers increasing year-on-year. The increase in both tourists and expats looking for a place to stay has contributed to the sprouting of different types of housing such as boreys, shophouses, apartments, villas, and condominiums.Each type of housing is different in terms of  physical specifications, living conditions, and functional use to satisfy the local and foreign market demands.What is a Borey?A borey is a type of housing project that is popular for the Khmer standard of living, and is popular among middle and upper-class people. This type of residential development is also a good investment for developers in the country because boreys in Siem Reap are generally located in commercial areas.The primary feature of a Borey is its collection of houses attached to one another and enclosed as a gated community. Houses in a Khmer Borey may include single villas, twin villas, and flat houses. Borey developments also have a range of properties that serve the needs of both individuals and families. For example, houses within Borey Angkor Palace, Borey Nagara, and Borey Brem Brey may feature anywhere from 1 to 4 bedrooms each with a starting price of $60,000.Interested in buying a Borey? Check out our updated list of boreys for sale in Siem Reap!What is a shophouse? A shophouse is like a flathouse, a linked house, or a townhouse. Shophouses are mostly two or three stories high with a shop on the ground floor for mercantile activity and a residential space above the shop. The shophouse units are usually around the 4x16 to 5x20 sqm size with prices starting from $60,000.  Normally, a shophouse functions with a business in mind on the ground floor. This type of house is a good investment choice for those who plan on living where their business is. However, shophouses usually do not have a garden or front yard, but a small outdoor space behind the home. They generally don’t have a standalone fence for security, but feature a very secure front and back entrance with protective steel bars. Parking spaces are usually not included in the basic shophouses; many shophouse owners park their motorbikes on the ground floor or up the street curb.Are there different classifications for a shophouse?When it comes to purchase a shophouse, buyers can chose between a Khmer style, or a modern one. A Khmer-style shophouse has a traditional design focused on Khmer vernacular architectural construction. Modern shophouses, on the other hand, adopts a more contemporary and western design. It’s hard to spot the difference from the outside as some western shophouses are renovations from the Khmer style ones, and often are in the same buildings.What is a Villa?A villa is a type of private (and often luxurious) residence in the province. A villa is different from regular house primarily due to its detachment from other houses allowing it to have a yard of its own. There are different types of villas such as a hybrid, twin, and single. What makes a villa a good place to live in?Siem Reap is a place surrounded by nature: it offers trees, greenery, gardens, a good airflow and low pollution due to the limited traffic. Villas, therefore, are the perfect choice for nature lovers and those wishing for a great amount of privacy. Villas for sale are generally available from $150,000 - $230,000 depending on their location and features.Another factor to take in consideration is the long term prospect of the investment; Siem Reap is one of the main tourist destinations of Cambodia, bringing millions of tourists every year. For instance, according to Apsara Authority report there are more than two million visitors on average in Siem Reap every year. Check out villa for sale in Siem Reap!What is a condominium?A condominium units exist within a tower building with a number of residents. Individual unit owners share ownership of the common areas in a condominium. These include the recreation rooms, playgrounds, gardens, and also the courtyards. Common areas can be used by anybody residing in the building. But the individual condo units remain the private ownership of the residents. Condominiums usually have staff on-site to assist the needs of the unit owners. Condominiums also offer  security features and shared parking areas.What makes condominiums attractive living spaces?Condominiums is a great choice for a first house since it offers many amenities and management-facilitated services which save  money, time, and efforts of the owners. Generally, condominiums are located in the inner city, near the commercial hubs. Condos usually offer great  views, and feature fresh air and cool temperatures.Even if condominium units have just a wall separating you from your neighbors, this type of housing is still more private than a standalone home and will also have added security services. Maintenance fees and association dues will, however, be charged to all residents to manage common areas. Lastly, condominiums usually have many internal regulations and may have restrictions in regards to the restructuring of the unit.  Are there a lot of condominiums in Siem Reap?There are a lot of condomoniums in Siem Reap ready for occupancy. These condos have a starting price of $65,000 per unit. These units feature anywhere between 1 to 3 bedrooms and offering spaces up to a crazy 1,500 sqm. Check out our list of condos for sale in Siem Reap to find what's best for you!Where do locals and foreigners prefer to live in Siem Reap?Cambodians won’t have any troubles living in Siem Reap, it’s just a matter of deciding on preference and needs. But for foreigners, there are two main areas they are likely to settle down. Asian tourists such as the Chinese and South Koreans, prefer to live in the west side of the Siem Reap river due to the high concentration of  tourist companies, restaurants, bars, stores, and souvenir shops. Europeans or westerners in general, prefer living on the eastern side of the Siem Reap river because the residential areas are mainly located in green areas, integrating homes with nature.If I buy a house in Siem Reap for investment in which area should I buy? Mr. Sok Sarath, a real estate agent in Siem Reap, suggested that those buying to invest, should consider the area around the ring road. According to Mr Sarath, this area with the most potential whether for living or investing. Other areas worth of investments are the Central and Upper Market.Is investing in Siem Reap better than Sihanoukville or Phnom Penh?The biggest incentive for investors to invest in the province lies in its land prices. Price per square meter in Sieam Reap are significantly lower compared to  land prices in Phnom Penh. The population is also comparatively low; creating an environment of tranquility suitable for those wanting to escape for the hustle-and-bustle of big cities. Moreover, the province has also seen an increase of businesses such as hotels, restaurants, private clinics and schools, resulting in a perfect place that can adequately support families.Where are the most developed areas in Siem Reap?Mr Sarath suggested  that the number of houses for sale in Siem Reap is rising inside the ring road area of the city, especially along main roads such as Sivatha Boulevard, Charles de Gaulle Street and Route No. 6. The development of residential and commercials areas is attritubted to the continuous growth of both domestic and international tourism in Siem Reap.At present, new businesses such as contractors and agricultural companies have turned up along Road No. 6 to the Prasat Bakong district, toward Phnom Penh.Does Siem Reap suffer from floods?Residents of Siem Reap don’t seem to worry about flooding. In recent years, there have been no floods in the area. However, if you are going to buy a house on the ground floor, double check with the previous owner and neighbours whether or not your new home is prone to flooding.How is the infrastructure in Siem Reap?Siem Reap infrastructure is developing rapidly; roads are interconnected to different areas of the province which is key for the development and expansion of the city.The roads of Siem Reap also connect to a number of different temples of Siem Reap, Phnom Penh, Battambang, Kep and Kampot, Sihanoukville, and Kampong Cham. Road links between the provinces benefits the real estate market in Siem Reap by making them more accessible to one another.Public Service InfrastructureFor families looking to settle down in Siem Reap, there is an increasing number of international schools being offered, which in turn are rqising the educational standards within the city at impressive rates. Healthcare is massively improving, as well.Siem Reap has a number of international standard hospitals and clinics – including the international standard Thai-managed Royal Angkor International Hospital, which is affiliated with the Bangkok Hospital Medical Center, offering medical services for locals as well as expats.How is Food and Entertainment in the town?Siem Reap offers a great mix of cultures and flavours from all over the world. The area is filled with Khmer, European, Chinese, Korean, Japanese, Thai, Indian, French, and other international restaurants. These are available, especially on Pub Street -- a place that is reminiscent of the cities of Europe.Other than street food, the city offers many places for entertainment:pubs, bars, karaokes, and clubs where people can enjoy talking, drinking and, dancing.Curious about living in Siem Reap? Take the first step in imagining a life by checking our list of houses for sale in Siem Reap today!

The Toul Kork district is one of the 11 districts in the capital city extending over 8 km. It's known for its high concentration of villas, low-to-high-end condominiums, and a growing business district!Looking at the current development project in the district, we can notice that there is a range of international schools, restaurants, commercial buildings, shopping malls, sport centers, and coffee shops.Additionally, Toul Kork also offers new developments such as the TK Royal One, The Gateway, Apennines Condominium​, and many more. Due to its fast development, this is currently one of the best locations for living or working. This in turn has increased increased the demand for accommodation within this district. Currently there are several houses for sale in Toul Kork and houses for rent in Toul Kork.Tips for renting in Toul Kork DistrictWe're making it a point that readers who go through our blog are well-informed about the various steps and important things to remember when making investments (yes, renting is an investment!). That's why we've created these important questions to ask if you're looking to rent in this fast growing district!What documents should I secure?If you have decided to look for Houses for Rent in Toul Kork, you should ensure that your landlord is able to issue a legal rental agreement. Make sure that you agree with all the rights and obligations defined in the lease ad that you retain a copy of the agreement.To ensure the legality and vitality of the lease, you can also consider hiring a 3rd party service provider such as lawyers or a reputable estate agents to ascertain the legal liabilities stated in the contract.Should I get a furnished or unfurnished house for rent in Toul Kork?Usually, homeowners will offer different services and conditions for rentals. Serviced apartments have much to offer for customers looking for high-end property, such as: fully furnished units with hot-cold water, washing machine, kitchen equipment, Internet, and cable TV. Additionally, condos often offer gyms, swimming pools, and parking. However, currently even homeowners of simple houses offer fully-furnished units and kitchen equipment.Ms. Sengly, the owner of a rental house on the 2nd floor in Toul Kork said, "In the  past, I used to rent out my house without furniture. Later on, I had to  add kitchen equipment, a sofa, beds, cable TV, etc. This increases the tenants demand as well as the rental price."Getting a fully-furnished rental unit will provide convenience and comfort, especially for expats who who just want to live and work in Cambodia and would rather not worry about where to buy appliances. Fortunately, more and more rentals - be it apartments or condos - are offering fully furnished rooms.What are the rental prices and included amenities in Toul Kork houses for rent?Depending on your preference and needs, you may opt to rent a condominium in Toul Kork; you can get a furnished one-bedroom condo unit for $250 a month up to a four-bedroom fully-furnished lower-end unit for $2,000 a month near TK Avenue. Prime Units in Boeung Kak 1 have three bedroom units for around $2,100 a month. Serviced apartments are also widely available -- starting from $350 to around $4,000 per month, depending on the area, services, and amenities.The rental prices for a villa starts at around $550 and up -- depending on quality, rooms, and amenities such as swimming pools. Villa’s are more freely available for rent and sale in Toul Kork, as compared to prime inner city districts where the availability of villas are now very low, and also much more expensive than those in Toul Kork.An increasing number of borey developments are also popping up around Toul Kork, proving very popular with local buyers seeking shop houses and villas with sound infrastructure and a safe neighbourhood environment.What is the benefit of long-term rental and short term rental agreements?Usually the duration of the lease contracts range from 6 months to 12 months.Foreigners seem to have been more reluctant to long-term lease contracts and rather prefer short-term agreements with month-by-month payment scheme, since they usually don’t stay long.However, long-term lease contracts can have their perks: they presents a great opportunity for negotiations the deposit and monthly rent with the owner. Owners will most likely approve the request due to the long time rent prospect.Where do I start looking for rentals in Toul Kork?Finding a good rental space that suits your needs will likely take some time -- especially if you are a newcomer (more so as a foreigner) in town. Some people rely on private brokers who assist them during the house hunting. It's good practice to search for real estate agents who are under licensed companies. Renters do not pay any fee to the real estate agent, since they charge a commission to the landlords. We've compiled a list of reliable real estate agencies in Cambodia that can save you a great deal of time and offer services for FREE.Miss En Chansreyleak, Sales staff in the real estate company Yong Yap Properties -- one of the leading property service agencies for selling and renting real estate in Phnom Penh said, "As a standard for real estate agents, we provide services in a very efficient and trustworthy manner to our clients."Chansreyleak continued, "We understand the needs of the clients. In addition, we provide counseling and help solve problems they might face during their stay. Honesty and professionalism, this is what you should look for in real estate agents, to help find homes for rent or sale."Are there other options to look for properties on my own?You can visit Realestate.com.kh, the leading real estate portal in the country. Here you can freely browse among more than 45,500 properties of all types, filtering by price,location. etcWhat taxes do I have to pay when I rent?By law, when property owners lease to individual tenants, those must pay 10 percent of the monthly rent to the government. However, depending on the agreement between the landlord and tenants, in some cases the landlord can do that for them.In the past, the real estate entity would normally withhold 10% of the rent from the Lessor and in a sub-lease situation, the tenant of the real estate entity would withhold 10% of the rent on the sub-lease to the real estate company.  Instruction 18410 now provides for an exemption on the withholding tax on the sublease, if both the lessor and lessee are registered tax payers.Looking for real estate for rent in Phnom Penh? Or want to read about critical tips for prospective lessors? Check out Realestate.com.kh.

As many major residential projects reach completion across Phnom Penh in 2017, condos, boreys, and mixed-use complexes alike, industry insiders are becoming increasingly focused on what will become of these buildings once actively occupied with residents. More specifically, how well will the property be managed.Cambodia has traditionally been a market in which family-owned buildings are essentially managed by the family members with a sporadic collection of maintenance fees from tenants. Yet, in a 200+ unit condo tower, this model is shaky at best. “The gap comes from an overall lack of talent in the market, whether you are looking for an experienced Property Manager or Chief Engineer, or even Operations Manager,” says Sunny Soo, Managing Director of Keystone Property Consultants Co., Ltd., an international associate of Savills. “Unlike countries like China, Thailand or even Vietnam, property management in these markets is already a mature industry. Human resources is still a big issue here,” continues Soo.Simon Griffiths, Senior Associate Director at CBRE Cambodia, agrees, stating that, “there are very few experienced property managers in Cambodia - and not surprisingly so, given that Cambodia has been a low-rise nation up until the recent surge of development. This is accentuated by Cambodians not having the benefit to learn from previous generations - and in the property management industry, experience beats academic qualifications.” “Meanwhile, the legal framework has ‘grey areas’ - more grey than black and white,” says Griffiths. “With structural weakness in the legal system, there are owners/tenants who do not wish to pay their service charge and see it is optional for them often using any excuse or reason to avoid paying. If there is no money in the property management account for a building, lights are switched off, elevators are not fixed and staff are let go. Combine all the above factors and it is a difficult industry facing challenges,” he continues. “There is a gap currently between the expectation of the developer that is usually unattainable from the lower sum of management fee collection they would want to collect,” says Soo.Matthew Rendall, senior partner at Sok Siphana & Associates, a member of ZICOlaw, states “there needs to be a development of the owner-run body corporate culture (where owners come together as the management body and control the sinking fund etc). Failing this, the developers either have to manage the apartment blocks in perpetuity or risk the development falling into disrepair.” As many projects reach completion, dangers exist for the end buyer if a sound property management system is not in place. “The high-end, good quality projects would have hired foreign management firms to start with in the first place. As for the others, buyers should take note of the ill market demand of a lesser managed property and hence take corrective measures decisively, the sooner the better.A sound system will show up over time,” notes Benny Tan, Principal Consultant at Raffles Strata Management (Cambodia) Pte Ltd. “Remember that “cheaper is not better!” If you demand a cheap steak and then complain it is tough, you should not be surprised - you pay for what you get and it is the same with property management,” says Griffiths. “If a developer tries to sell you a condo unit with a cheap service charge, expect low quality and that the lifetime and value of your investment is at risk. $1 per square meter service charges in the residential condo sector as a general market practice guide are wrong - they are too low. Buyers must see the budget plan for property management from the developer. If the developer is not sure what this is, start to be concerned as property management is clearly being treated as an afterthought,” continues Griffiths. "It is highly advisable for potential buyers to scrutinize the sale contracts to identify precisely what the developer proposes regarding the ongoing management of the facility. This is as important as the quality and design of the structure itself.If the contract is silent or unclear on this point beware. Buyers should also look at the developer’s previous developments and judge them by how well they are managed (when deciding whether to buy into a developer’s subsequent development),” concludes Rendall. Yet, the market may be in the midst of a natural learning curve. “The other regional markets have had gone through the same. Such a gap exists initially but when the local market opens herself to the higher standards elsewhere and embraces the same, the gap gets narrower and vanishes eventually,” says Tan.By James Whitehead @ Realestate.com.kh This story was a co-production of the Khmer Times & Realestate.com.kh “Property” Liftout. The section is available every Wednesday in the Khmer Times newspaper, with 10,000 copies distributed across Cambodia every day. Contact us today for advertising opportunities in the Khmer Times/Realestate.com.kh Property liftout.

Khan (district) Daun Penh’s name comes from a local legend where a woman named Lady Penh supposedly found statues of Buddha inside a floating tree along the Mekong river. Nowadays, Daun Penh is considered one of the largest commercial hubs in Phnom Penh – lined with art deco architecture, sprawling local markets, various F&B options and criss-crossed by key arterial roads of the capital city.Khan Duan Penh has 11 Sangkats in total. These are Srah Chak, Phsah Chas, Phsah Kandal I, Phsah Kandal II, Chey Chomneas, Chaktomuk, Phsah Thmey I, Phsah Thmey II, Phsah Thmey III, Boeng Raing, and the location where Lady Penh supposedly hid the artifacts, Wat Phnom.How’s the property market in Daun Penh?Duan Penh Land Market:Land prices in Phnom Penh continued to rise from 2010 to 2016. Daun Penh represents one of Phnom Penh’s most valuable districts. Land value in Daun Penh generally ranges between $4,000 to $4,300 per square meter, according to the H2 2016 CBRE Cambodia Market Overview by CBRE Cambodia. It is considerably cheaper than land in BKK 1 & 2, yet prices are still high in Duan Penh is key retail locations and along main roads. Parking is in high demand in this district, so land lots with space for car parking are highly sought after.Duan Penh Residential Property Market:Condominiums/Condos in the area range from $21,500 for a basic, unfurnished one room unit to $520,000 for a fully furnished two-bedroom unit. Rental rates are from $150 a month for a unit near Sorya Mall up to $2,800 per month for a unit in Phsar Kandal I. These prices for both rental and sale of condos varies dramatically depending on the quality of construction, management and location.Some Villas are still available for sale in Daun Penh, but there is a limited supply. Many villa properties have been purchased by apartment, hotel and condo developers to make way for new construction. Meanwhile, expect to pay for what you get, because good quality villas with surrounding land are in high demand from wealthy locals in this area. You can rent a 200-square-meter villa for $600 a month all the way to $25,000 a month for a high-end 600-square meter villa. For sale prices start from around $200,000 and can rise to the millions depending on quality, land size and location.Flats and shophouses for sale can start from $29,500. It can go up to $2 million for a flat with four-bedrooms and 4-bathrooms. Rental rates start from $90 a month to several thousand a month, depending on location and quality.There are also a number of Borey projects in the area that you can inquire about if you want to buy a property within a gated community. Some of these are completed already, others are still in progress.Office Spaces and Business Centers in Daun Penh:Rental rates for office spaces in Daun Penh can go for as low as $6 per square meter a month and as high as $15 million to buy an entire office building with a land area of 1,070 square meters.The major business center here is the Canadia Bank Tower, located at Ang Doung Street. It has 32 stories and has a total area of 6,000 square meters. It will comprise of a business lounge, workstations, meeting rooms, part-time offices, day offices, internal offices, and window offices that you can rent out through office provider, Regus.The Vattanac Capital Tower is one of the most prestigious locations for business in Phnom Penh. It stands at a total of 187.3 meters high with 39 storeys of commercial space.It was built with international standards and even has a Gold Certification in Leadership in Energy and Environmental Design as a green facility from the United States Green Building Council.The Phnom Penh Tower is another business center here. It also has a gross area of 1,172 square meters. It provides office spaces for every need and caters to anyone from individuals to large brands.16-Levels of Grade A office space will also be available through the Hong Kong Land Exchange Square, which is expected to reach completion in 2017. The development – 30,000 square meters in size – will also include a four-level retail podium.  Daun Penh Lifestyle:What is Daun Penh’s environment like?Daun Penh is characterized by its tasteful mix of culture and diversity. It contains historical value through its legends and structures but it also does not steer away from the construction of modern establishments such as restaurants, bars, hotels, business centers, and condominiums. It has no shortage of activities for backpackers all the way to executives. In Daun Penh, you are who you want to be because you have a variety of lifestyle options.Daun Penh encompasses the Riverside area - and overlooks the great Tonle Sap river. Lifestyle wise, riverside has the best selection of restaurants and bars, making it very easy to meet new people. Of course it is riverfront, which means amazing views and fresh air. Riverside also has plenty of markets. For people interested in Riverside real estate, most of all this area is convenient – everything is just a walk away.In regards to Tourism, riverside is the #1 spot in Phnom Penh, and one of Cambodia’s travel hubs. Here you can easily access all tourist amenities, such as bus tickets, ferry tours, the night market, royal palace, and riverside is also home to a host of cultural events & festivals.Are there any places to shop, eat, or entertain yourself in Daun Penh?There are plenty of places to go to in Daun Penh such as the Central Market between St. 126 and St 136. It was built in the 1930s and is a bargainer’s heaven for souvenirs, handicraft, shirts, and jewelry. And just south of Central Market is the Sorya Mall – a more westernized retail mall – which was once the largest shopping complex in Cambodia. Sorya Mall is currently being remodeled to attract new brands and create a more-modern shopping experience.Golden Sorya Mall was also Phnom Penh’s biggest mall back in 2009. It has a number of food courts and a big supermarket inside. But if you’re looking for western supplies, Lucky Market is just along Sihanouk Boulevard, and includes a very well stocked supermarket.A variety of restaurants, fast food joints, and coffee shops are available as well such as Kentucky Fried Chicken, Lucky Burger, The Deli Bistro Gourmet on St. 178, Ratanakiri Restaurant on St. 51, Le Point Café Restaurant, Mekong Korean Restaurant, Sarpino’s Pizzeria, Golden Mermaid Restaurant, Brown Coffee, KOI Café Vattanac Capital, Bloom Café, and many more.For those looking to create home-cooked meals, there’s the Kandal Market, Pencil Supermarket, Orussey Market, and the Old Market. Here you can buy just about anything from the expansive wet and dry markets.Where are the Gyms, Fitness and Wellness Centers in Daun Penh?For those looking to unwind, relax, or work out, Daun Penh is crawling with health and wellness facilities. Among them are The Place 2 at St. 278, Prokout Fitness and Fight Center, Paddy’s Fight Club, and Kim Hour gym. Spa’s include the SK Relax Massage & Spa I, M Health Khmer Spa, and the Rock Hotel and Spa.What’s the nightlife like in Daun Penh?For hanging out and chilling, you can head on over to the three main areas of nightlife in Daun Penh. Street 51 includes dynamic beats from Pontoon which serves up some mean music like EDM or electro house. Heart of Darkness is also on Street 51 which has been serving the locals and tourists since 1993. Street 51 area is the most well known area for bars and clubbing in Phnom Penh.The riverside walk area is another popular location for people looking to go out and have fun. The Metro Hassakan is just one of the trendy eateries located here which serves Tapas by day and cocktails by night. It has a more upscale vibe with well-dressed tourists and trendy locals. Just stroll the riverside for countless other options and all variety of cuisines.The third main area is over at Street 172 where you will find a strip of bars, restaurants and hotels. Since the filling of Boeung Kak lake years ago, many tourism ventures relocated on this street and have imported a truly metropolitan crowd. Other bars in Daun Penh include Blue Chilli Bar on St. 178, The Empire Movie House, Bar & Restaurant, Velkommen Backpackers, Shanghai Bar and Restaurant, Oasis Bar, Eden’s Bar, Dream Bar, and bars in hotels like Monsoon Boutique Hotel, Le Grand Mekong Hotel, and Hotel Cambodiana.What schools are in the area?Daun Penh is filled with bilingual schools that are also accredited by IELTS and TOEFL. Some of them also offer U.S. high school diplomas on top of Cambodian high school diplomas. These institutes include the Wat Koh High School, Preah Sisowath High School, Westline School, Chaktomuk Secondary School, Paññāsāstra University of Cambodia, Beijing International Academy, Student Development Institute, Hun Sen Bun Rany Wat Phnom High School, Preah Sihanouk Raja, Golden Gate American School, ICS International School, and the Sovannaphumi School.A number of these schools are also registered with the Cambodian Ministry of Education and accredited by the Cambridge International Exams, Western Association of Schools and Colleges, Middle States Association of Colleges and Commissions on Elementary and Secondary Schools and the National Council for Private Schools.How do I move around the city?There are plenty of transportation options in Daun Penh which is evidenced by numerous terminals and stations connecting the area to the outer provinces and cities of Cambodia.Cambodia Railway Station is one of them - and this has a passenger line to Kampot and Sihanoukville. Other terminals include the Battambang Taxi Station, Central Market Bus Stop, G.S.T. Express Bus Stop, Medical University Bus Stop, BKC Bus Stop, Monivong Road 214 Bus Stop 36, Kampong Chamlong Phnom Penh, Precah Ket Mealea Hospital Bus Stop, Calmete Hospital Bus Stop, Old Stadium Roundabout Bus Stop, Giant Ibis Bus terminal, Larryta Express terminal, and the Daun Penh Health Center Bus Stop.There are a also tuk tuks and motorbike taxis available in the area. If you’re using your own vehicle, bikes are also a normal sighting in Daun Penh. Cars also have easy access to different parts of Phnom Penh through Daun Penh’s surrounding main roads.What if I get sick? Are there Daun Penh Medical Centers?Serving as the location for the Medical University, Medical centers and medical supply stores such as pharmacies are also abundant in the area.Pharmacies in the area include the Pharmacy Gold Palace in National Highway 5, the Pharmart UHS, and the Pharmacie De La Gare along Preah Monivong Boulevard, U-Care along Preah Norodom Boulevard, and U Care Pharma along Samdach Sothearos Boulevard.Hospitals in Daun Penh include the Daun Penh Health Center, Calmette Hospital on St. 80, Bayon Hospital along Prah Norodom Boulevard, the Preah Ket Mealea Hospital on St. 47, and the Ang Duong Hospital.For your dental care and needs, there’s also the Roomchang Dental Hospital located on St. 184 in Sangkat Phsar Thmey III. This is known as one of Cambodia’s leading dental clinics.Is the Daun Penh area prone to natural disasters?Daun Penh is prone to flooding. Just recently, reports have circulated about Daun Penh district’s Psar Kandal commune, Chamkarmon district’s Tonle Bassac commune and Tuol Kork district’s Doeum Kor Market partially submerged in flood waters.A continuous government initiative to offset flooding is being made. There are now more than ten pumping stations in Phnom Penh after construction of a new pumping station was started in 2015 in Boeung Trabek.City hall spokesman, Chen Bunthoeun, said that “based on new water pumping stations that are equipped with large pumping heads which we are installing, the governor guarantees that the city won’t be affected by flooding again.”If you want to make sure the area you’re going to live in has no flooding issues, check the surrounding area or the property itself for flood lines. These are usually darker discolorations at the bottom part of a wall or vertical surface. You can also check for fresh paint jobs at the bottom part of these surfaces.If you’ve already purchased or rented a house and read this just now, getting around the city during a flood will be manageable using a tuktuk or taxi. Storms in Cambodia are also windy. So, thick and waterproof outerwear would be better than using an upturned umbrella.Now you know the neighbourhood. Take a look at some properties that are up for rent and for sale in Daun Penh!

If you are considering buying a house for sale in Phnom Penh you may think that the only things you need to think about are the price, the quality, and the location. Yet there are several other things you should familiarize yourself with before you select your new home in Phnom Penh.Realestate.com.kh is here to help - with a step by step guide to choosing the right house for sale in Phnom Penh:What are the types of houses for sale in Phnom Penh?There are a few kinds properties you need to define first before actually deciding on what type to get. In Cambodia, these are generally Shophouses, Villas, Borey Homes and Condominiums.Each type of house is a bit different in terms of physical specs, supply in the market and the kind of ownership available. Depending on the size of your family, your budget and your commute to work - each of these types of properties offer various pros and cons. Also, in regards to home ownership, depending if you're a Cambodian citizen or not, some of these properties may not be available for you to purchase.What are Shophouses?Shophouses, aka townhouses, flats houses, or link houses, are townhouses that are typically characterized by its standard setup, and by facing a main street or road. It has a shop front at the ground floor facing the street and residential areas in the back section of the ground floor, and above the ground floor. Hence the term “shophouse”.The shophouse units are generally 4 x 16 meters squared in size, and generally 2 or 3 floors high. Shophouses sit together in a row of houses generally.Shophouses located in popular urban areas offer a bonus for families - as the front of the home is easily converted into a restaurant, mart or other small retail venture. Yet, the rest of the home can still be used for the family’s living. Having said this, you don’t need to have a shop just because you have brought a shophouse.Generally, shop houses will not have front yard or garden, and likely only a small outdoor space behind the home. They won’t generally have a stand alone fence for security - but they will usually have a very secure front entrance and back entrance, and a protective screen. Car parking is often difficult with a basic shophouse, however many shophouse owners park their motorbikes inside the bottom floor room for security at night.  There are different types of shophouses. The Khmer-style shophouses have a more traditional design and more basic interior fit outs. While modern or western shophouses have incorporated a more current design and interior decoration and amenities that expats deem as necessities - such as western style toilets, baths, ovens, air con etc. It’s hard to spot the difference externally because some western shophouses only renovated on the inside.The maintenance and upkeep of shophouses are pretty straightforward and low since the property is sectioned into smaller areas. It’s also pretty accessible since shophouses tend to be where the foot traffic is. That being said, it can also get noisy as a result of that.Are shophouses susceptible to floods?Because you are on the ground floor, be careful of buying a shophouse in a flooding area. Check with the past owner and neighbours whether or not your new home is prone to flooding. If it is, you had better be prepared when the rains come. If you are buying in a flooding area, this should reduce the price.Can foreigners own shophouses?Not really. Foreigners can only technically own a shophouse through a nominee structure where foreign investors enter into a trust agreement with the owner. The land or property is then held for mortgage. The property’s then leased to the foreigner.  You would need a mortgage agreement, a lease agreement, a loan agreement, and a security agreement. But use this structure at your own risk. This is still a violation against the constitution of the land law in Cambodia. A 3 story shophouse will not have a strata title available for its 2nd and 3rd floor units as it is likely built before this law was implemented (2010) and the owners are unlikely to have filed for strata title creation - therefore, foreigners could not buy is as they could a new condo unit.Learn more about buying a shophouse via nominee structuring. Learn more about different land titles in Cambodia.If I'm a Cambodian, should I buy a shophouse in Phnom Penh with a hard or soft title?For Cambodian citizens who want to buy a shophouse, it's worth noting that many shophouses are sold with a soft title. While soft titles are cheap and fast to obtain, they present risks that may affect ownership rights in the future since soft titles are not recognized on a national level. It's advised that Cambodian citizens secure a hard title for their new shophouse home. This will incur more cost (4% of the properties value, and some bureaucratic fees), but the protection is highly valuable.Note that if the seller can’t offer hard title ownership, or seems reluctant to, there are probably some issues with the title. Due diligence is in order on the buyer's part to find out more about the title and the true ownership of the property before handing over any money.Land Management and Administration Project (LMAP) titles can also be utilized. This is considered to be the safest kind of land title because it utilizes GPS coordinates to allocate land plots for the shophouses. This accurately defines the boundaries of a purchased plot of land. It has no significant difference from hard titles except for the fact that it comes with more detailed information. And the best part is, if you can obtain this type of title, you will be safe from any claims to parts of your property into the future - because you have confirmation of the exact boundaries of your property ownership.Interested in buying a shophouse in Phnom Penh? Check out shophouses for sale in Phnom Penh now!What are Villas?Villas are houses standing within its own grounds. Villas in Cambodia don't stray too far from this definition as Khmer villas are also detached from other houses and include a yard of its own. Interested buyers might also encounter a further play on these words and hear twin villa and mini villa. These simply mean that the townhouse is semi-detached or smaller, respectively.Khmer villas have yards typically featuring gardens and even trees. The benefit of having a yard space is giving families, especially children and pets, the space is safely play within the security of their property. Villa owners can also use their yards to conveniently park their cars and motorbikes on their property and away from the risks of the busy street. Villas are ideal for buyers/families looking for a quieter, safer, and more private living environment. Some villas in Cambodia even come with swimming pools - a perfect getaway from the hot Cambodian summer right at their backyard!Another upside to owning a villa is that even the smallest villa has plenty of space. There is also a wide array of designs to choose from. These can range anywhere from traditional Khmer, opulent french-inspired styles, to modern refits. Because villas are primarily suited for families/large groups of people, buying villas in more populated (or near commercial) areas present a potential for rental opportunities from family tenants, or a group of shared renters.Are villas susceptible to floods?That depends on where you buy your villa. Be sure to check with the previous owner/seller/neighbors whether or not the area is susceptible to floods during Cambodia's rainy season. It might be wise to prepare for when the downpour arrives if the villa is indeed prone to flooding. However, buyers can use this information to get the villa at a more bargain price.Can foreigners buy villas in Phnom Penh?The simple answer is no. But foreigners may opt to use a nominee structure, similar to a shophouse. But again, doing so will still be a violation against the constitution of the land law in Cambodia. The land law runs across all landed property types and offers no exception.Learn more about buying a villa via nominee structuring. Learn more about different land titles in Cambodia.If I'm Cambodian, should I buy a villa with a hard or soft title?A soft title should be okay if you’re absolutely sure there won’t be any disputes with the villa ownership. But hard titles are the strongest type of proof of ownership. It’s an ownership certificate that’s given by the Land Management and Planning Office (LMAP). It details the information recognized by the cadastral office and the Ministry of Land at a national level. A transfer tax of 4% is usually paid when the property is sold. LMAP titles can also be used to determine exact GPS coordinates of the land plots should anyone dispute the property boundaries/ownership.Check out villas for sale in Phnom Penh now!What are Boreys?Borey is characterized by a group of low-rise residential properties located in a gated community. These includes villas, flats, townhouses, shophouses, and even the occasional condominiums. Borey developments have a variety of properties that cater to both individuals and families. It typically has its own infrastructure and services which includes roads, water, electricity, and waste management. But the biggest selling points of a Borey is its huge space and security. It also generally has a more quiet scene because of of its exclusivity.Boreys are a good option since it has immediate access to all the right infrastructure, such as water, electricity and nearby major roads. Borey communities are secure and feature common areas for families to enjoy. The downside is added costs compared to stand alone properties; there may also be a waiting period before you can move into your new home.Can I buy a Borey home if I’m not a Cambodian citizen?Foreigner nationals are not allowed to buy homes in Boreys because these are predominantly landed properties. Article 8 of the Land Law states that “a foreigner who falsifies national identity to become an owner of land in Cambodia shall be punished as determined under article 251 of this law. Any property bought under these circumstances will be seized as State property without compensation from the State.” Yet, some boreys do have condominium units available with strata titles fully applicable to foreign buyers. Also, foreign buyers could consider buying a borey home that is landed via a Cambodian nominee.Learn more about buying a borey home via nominee structuring. Learn more about different land titles in Cambodia.I’m Cambodian, can I buy a house inside a Borey?Cambodian citizens will be able to purchase landed properties in Borey developments with no issues -- provided they satisfy the legal and financial obligations.What documents should I look for when choosing a new house in a Borey development?Many developments will pass themselves off as Boreys. But these fake projects don’t have the necessary approvals and documentation. They simply call themselves a “Borey” in their marketing drive. Buyers need to check for five (5) important documents to ensure the quality and credibility of the Borey development.These 5 crucial documents are the hard title, company registration, approved master plan, construction license, and Borey License.Hard Title: You have to look at two classifications of hard titles when dealing with Boreys.The first is the hard title for the whole borey development. This is called a master title - and will cover the entire piece of land on which the project sits. The second one should be hard titles that are subdivided for each residential unit included in the borey. These are called individual titles. A legitimate Borey development should be able to produce both of these hard titles to potential buyers. If they can’t show this, don’t put any money down until they do.Development Company Registration: Development companies will need to register themselves to gain approval from the necessary ministries to proceed with construction. However, construction is not always a sign that they’ve been approved. You can ask to see their company registration just to make sure both the project and the developers can proceed legally.Master Plan Approval: The Ministry of Land Management will need to approve the developer’s Master Plan first by the Ministry of Land Management before construction begins. A credible developer will be able to provide you with it or at least show you a copy.Construction License: The construction company then goes through a thorough background check with the Ministry of Land Management. Boreys must have a single registered construction company building the units and infrastructure to ensure consistency and quality throughout the development. Once this has been cleared, the construction company is then given a license.Borey License: The Ministry of Economics and Finance releases the license for the Borey once everything is in order. This means that the developer has satisfied the requirements of the Government in terms of quality, design, sales plans, and documentation.Learn more about buying the right borey home in the ultimate Borey Buyer’s Guide, on Realestate.com.kh.Should I buy in a Borey project with a hard title or a soft title?You have to look at the main hard title first when looking at Borey developments because it’s a large-scale project. Ms. Lay Solida, Lawyer at CBL Law Group, said that:“Borey projects should be legal and recognized by related ministries. The most important thing is that the Borey project has the main hard title.”We still advise Borey buyers to have an individual hard title for their section of the project. An individual hard title for the borey project can be obtained through the appropriate ministries at 4% of the property's price. Once this is obtained, Borey property owners can sleep well that their ownership is secured.Check out Borey homes for sale in Phnom Penh now!What are condos?Condominium units exist within a tower building with many residents. Individual unit owners share ownership of the common areas in a condominium, like recreation rooms, playgrounds, gardens, and courtyards. All are welcome to use the common areas, but the individual condo units remain the private ownership of the residents. Condominiums usually have staff on-site to help manage and assist in the needs of unit owners. They also have security and shared parking areas.Condominiums can be great starter homes. It has a manageable space, with management-run amenities and services. This means low effort and time for upkeep by owners. Generally they are located in the inner city, so they also offer convenience and low travel times for inner city workers. They will generally have a nice view above the city, with fresh air and cooler temperatures. A unit in a condominium is also more private than a stand alone home and will have added security services. Condo units in Phnom Penh are normally quite modern in design and contain western style fixtures and interior layouts. Maintenance fees will however be charged to all residents to manage the common areas. There may also be restrictions in terms of remodelling the unit.  Can foreigners buy a condominium in Cambodia?Foreigners can buy condominium units and gain ownership with a strata title. But they are usually only able to buy in newer condominium developments because developments older than 2010 do not have strata titles yet. They can own up to 70% of the total units in the building. The remaining 30% should be owned by a Cambodian Citizen. The 70% ownership excludes any ownership on units on the ground floor.What is a Strata Title?A law was created back on the 24th of May in 2010 regarding foreign ownership of real properties. This began the issuance of Strata titles. Strata titling basically allows private ownership in co-owned buildings. The conditions are that foreigners are only allowed to own up to 70% of the building, excluding the ground floor. So, this cannot be used to buy a landed house for sale in Phnom Penh. But it’s helpful to know that citizens can benefit from it if they choose to develop a strata-titled property. Strata titles are recognised at the Ministry of Land Management, Urban Planning and Construction - and are as safe as any other hard title in Cambodia.How do I obtain a strata title for a condo in Phnom Penh?Creating a strata title involves the developer’s acquisition of land and obtaining a hard title for it. It is important to note that private unit ownership cannot be directly transferred by way of the original master plan. This can only be done by transferring the collection of the split titles under the ownership and name of the developer.The next step is for the Ministry of Land Management, Urban Planning, and Construction to check the created regulations and practices regarding the insurance and management of the property. Once this is set and approved, a strata title will be released by the department to the developer. This is when the individual titles can already be distributed.The transfer will call for the presentation of personal identification and marital status of the buyer to the Ministry of Land Management, Urban Planning, and Construction. These documents must be in Khmer. The buyer will also need to have their name translated into Khmer because the strata title will be in that language. Buyers can opt to use the services of professional translators and legal assistance to inspect the contract.The title transfer costs 4% of the value of the condo unit. There’s also a public service fee for the issuance of each individual strata title under the buyer’s name.Check out Condos for sale in Phnom Penh now!What information do I need before buying a House for Sale in Phnom Penh?Conducting a title search before you purchase property is always ideal. This will reveal whether there are legal disputes or discrepancies with the land. The next thing you can do is to gather information about the property through a Commune council official.How can I secure myself from frauds or fake companies?The buyer should ask for a copy of the ID of the company’s representative if the seller is a company. A notarized copy of the Ministry of Commerce-issued certificate, power of attorney, and a signed resolution by the board of directors that authorizes the representative to deal with the land office is also needed.What happens when a buyer and seller make a deal?An initial 10% deposit is usually made first. The purchase must then be submitted to the Ministry of Land Management, Urban Planning, and Construction’s district office. This is otherwise known as the Cadastral Office. Both buyer and seller have to make an appearance at the Cadastral Office for the signing and preparation of the required documents.The seller then has to show the original title certificate to the Khan during the deed signing in order to amend it with the new owner’s name.  A down payment of 10% payment is given by the seller after this. The total processing time can range anywhere from 20 to 30 days.What are my tax responsibilities?A 4% Transfer Tax is required by the General Department of Taxation. This process usually takes around 1 day. A transfer tax is only required it there is a hard title in place. Both the buyer and seller must return to the Cadastral Office with the transfer tax receipt. They will need to sign a buying and selling form in front of a local authority. The whole process usually takes around 5 days.A soft title does not incur this tax - however, by dodging this cost you may cause yourself more issues in the future.The certificate of title under the new owner’s name will be released by Municipal Land Office once the Cadastral Office sends all the necessary documents and once 80% of the payment is made by the buyer. The processing time for this step takes around 5 to 21 days.Be aware of scammers!It's important to be aware there are some common real estate scams in Cambodia. Be aware of these when you are searching for a house for sale in Phnom Penh! If anything seems suspicious, seek the advice of an independent real estate agent or lawyer with property law experience.Should I work with a Realtor/Real estate agent when buying a house for sale in Phnom Penh?Cambodia has seen the stabilization of the real estate sector as more security measures are enforced. And this is an important aspect in investment. But since Cambodia is growing rapidly, its policies and enforcement also evolves in a quick succession. This is why working with a realtor is helpful because they are familiar with the ins and outs of the industry. They can offer sound advice and can help you ease your worries on your housing security. They can also give you a good comparison of prices and types of houses to choose from. They also have connections to mortgage professionals who can assist you.Having said that, agents in Cambodia are not all equal - you need to choose the right real estate agent!We hope this information helped! Now it’s time to search for your dream house for sale in Phnom Penh right here on Realestate.com.kh!

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to pay the water bill using the money services of Wing.What are the various ways to pay for a water bill?Well, you have a few options to choose from. You can pay directly through the water supply office or you can pay via the bank or Wing.Can you tell me the process of paying the water bill through Wing?It is important to check whether or not the payment date is still valid. If it’s already expired, the bank or Wing will not accept your payment anymore.In case your payment date is expired, you need to go directly to the office and pay for the bill there. How about the fees associated with using the services of Wing?If your bill is lower than $25, you will be charged $0.25. If you need to pay a bill that’s higher than $25, you will be charged $0.50.When is the water supply cut off?There are two cases why the water is cut off. The first scenario is when there’s damage to the water system such as when a pipe is broken. The second scenario is when you don’t pay the bill. In case the pipe is broken, it will be fixed as soon as possible. If you don’t pay the bill, you are advised to  pay your bill at water supply office.Are there penalties for late payment?You will be fined around $15 on top of the amount that you owe. Then one or two days later, you can use the water again.Find out more about Young Yap property on Realestate.com.kh

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to pay the electricity bill using the money services of Wing.What are the various ways to pay for a electricity bill?Well, you have a few options to choose from. You can pay directly through the electricity supply office or you can pay via the bank or Wing.How about the fees associated with using the services of Wing? If your bill is lower than $25, you will be charged $0.25. If you need to pay a bill that’s higher than $25, you will be charged $0.50.Why does the price per kilowatt fluctuate and vary?This happens because our country buys electricity from neighboring countries. So, the authorities follow a standard principle for electricity usage. The lower the kilowatt of electricity used, the lower the price per kilowatt is. The higher the kilowatt of electricity used, the higher the price per kilowatt is.Find out more about Young Yap property on Realestate.com.kh

Probably one of the most dynamic sectors in Cambodia, real estate markets like condominiums can go from huge potential to huge concern in a matter of months. Grant Fitzgerald – Country Manager for Independent Property Services Cambodia – in his interview with Realestate.com.kh, weighs in on the issues surrounding Cambodian real estate.Is There a Looming Oversupply in The Condominium Market in Cambodia?Fitzgerald concurs that the figures released by the media represent a close comparison to projections by market studies. Around 37,000 units will be released in the market by 2020.He mentions that “oversupply of condominiums is definitely a concern, one that has been talked about more and more.” But he also states that in any case, with a good amount of research there is a potential for great return for foreign investors. He explains that much like their company does, developers should focus on rentable units.  Fitzgerald says, “If we cannot rent it, we cannot recommend it.”Fitzgerald qualifies that rentability really comes down to location, design, quality, and a number of other factors. He warns that those that are in the outer areas of Phnom Penh are generally not recommended. Meanwhile, areas like BKK1 and Tonle Bassac have good developments and are easily rented out.Is There Going to be Another Real Estate Crash, Like in 2008?When asked about a potential credit crisis caused by the reported current excessive credit growth in the Cambodian property industry, Fitzgerald validated the concern.He says, “The vast majority of mortgages here use property as collateral. So, I can see how this issue has been raised.” But he was quick to clarify that this isn’t enough to cause a crash. Bank policies remain strict as to what properties are accepted and require around 150 to 200 percent collateral on mortgages.Fitzgerald explains, “There is quite a bit of margin for error. But in the event, if there is a significant drop in prices, I don’t necessarily believe that it would have a significant effect to the property market.” He compares Cambodia banks as being more conservative than banks in America during the global financial crisis.Why Should Foreigners Invest in Cambodia Even with These Threats?Fitzgerald says that there’s always a risk in any market, but Cambodia has seen many foreign investors flock towards them because of the high returns. He states that in comparison to countries like Korea and Singapore where returns only range from 1 to 2 percent, Cambodia’s rate is much higher - at 6 percent. Combine this data with good research, Fitzgerald says that you have a pretty good investment in your hands.Check out IPS properties for sale and rent today!

This is an extract from "Cambodia's Real Estate: A Silent Boom," a book authored by Mr Sovan Nop - Chapter 6; "Borei Market History & Future Forecast".In 1929, the "concept of borei started out as a form of affordable houses" to accommodate families of workers to live near the place where their family members worked (Phnom Penh Post's Borei History…). Borei truly transforms Phnom Penh's landscapes. The development is too quick and too strong. Imagine within two years, huge amounts of parcels of empty land plots located in the middle of nowhere suddenly became developed areas with paved roads, electricity, sewage, and rows and rows of houses.Borei refers to a cluster of low rise residential housing, mostly flats and villas, in a gated community. The Borei market is exploding. It is the flagship of the real estate sector in Cambodia. It is the most popular product in real estate mainly because, culturally, Cambodians prefer to live in buildings which are attached to the land itself. And it provides a sense of peace and security. The "biggest appeal of living in borei townhouse is the security" and "another great factor is the peaceful environment," Sonina Thon -- a resident in Camko City -- reported in the Phnom Penh Post's Borei History: Residential Collective to Gated Community. Borei provides all the lovable criteria that Cambodian home buyers are looking for: home attached to land, security, and a peaceful environment."Cambodia needs 10,000 houses per year and a total of 1,000,000 house from now until 2023," according to the Ministry of Land Management, Urban Planning, and Construction. The demand for new homes is strong and clear. However, the supply of housing is much clearer and stronger.  Every day, headlines in newspapers and TV advertisements grab people’s attention with their "Special Discount" and "Big Promotion". Giant billboards displaying new borei developments are displayed in every main boulevard throughout Phnom Penh. On top of the giant billboard advertisements, borei development advertisement have dominated advertisement spaces in TVs, radios, newspapers, magazines, and even on the sides of public buses. It seems there are endless new borei developments.The Rise of Home Price:Even though there seems to be an endless supply of borei developments, home prices always go up. Since 1993, land and home prices go up. After all, God doesn’t create any more land. The increase in price is due to a combination of factors such as the increase in population, limited urban area, and the inevitable rise of inflation (costs of construction materials and labor). Logically, the price of real estate goes up. For example, "prices for borei homes have increased around 10 to 20 per cent" in 2015, according to a study conducted by World Trust Estate, a well-known real estate company. Home prices in Phnom Penh in general increase 5 to 10 percent on average per year, while land prices on average jump between 10 to 20 per cent annually.The unverified news that people get rich quickly and easily through land and homes are spreading like a virus. Even for the same piece of property which has been on the market for ages and has not been sold, the asking price of that property still goes up year after year. In Cambodia, property owners ask for even higher prices. Even they cannot sell their properties at a lower price years before. This creates a herding mentality which perpetuates the demand of even higher prices. For example, if your neighbors is rumored to sell their land for $500,000, the owners of surrounding areas will ask for the same or even a higher price without even considering the size or location of the land. In Cambodia, the asking price, especially for land, seem to go beyond the "market value" which is described in the Red Book -- professional valuation standards -- of the Royal Institution Chartered Surveyors as "the estimated amount for which an asset or liability should exchange between a willing buyer and a willing seller in an arm's length transaction after proper marketing and where the parties had each acted knowledgeably, prudently, and without compulsion." Despite all of that, people are still willing to pay more. Cambodia's real estate, obviously, is booming.Home Loans:Of course, potential buyers still need to have a lot money to buy a house. Some people turn to banks for home loans. In terms of required documents, bank borrowers have to go through a stricter process and have to submit all of the important documents such as proofs of monthly income, letter of employments, proofs of monthly or yearly taxation, and a valid government-issued identity such as an ID or Passport.  Through banks, potential home buyers are required to have 30 per cent at minimum of the value of the home. They are welcome to borrow up to the remaining 70 per cent. For instance, if a home is valued at $100,000, potential buyers need to gather $30,000 on their own and can borrow the remaining $70,000 from the bank. This is considered as a good requirement since Cambodia's housing market and economy are considered riskier than that of developed countries. To compensate for higher risks, banks demand higher initial deposit and even higher interest, between 9 to 13 per cent annually. Most people are turned down by the banks, while other potential borrowers find other ways to finance their homes. There is an easier and simpler way to get home loans. Borei developers are willing to step in and act as bankers for those who are interested in living in their borei developments.  Easier Home Loans:The house price in boreis has not gotten cheaper. However, the buying process, such as payment plans and required documents, has gone a lot easier. Mortgages from borei developers are a lot easier to obtain and require less down payment and less paperwork. For many people who are not qualified for bank mortgages, they turn to borei developers to finance their dream homes. This is an easier way to get a home loan. Borei developers are more than happy to step in to fill the gap. Potential homeowners can borrow directly from borei developments. In this way, borei developers are both sellers and bankers. The only restriction is buyers need to buy their homes from the same developers who finance their mortgage. Potential buyers cannot borrow money from one developer and buy property from a different developer.  Potential buyers don't need to have proof of income whatsoever. The one and only required official document is Cambodian National Identity. The initial down payment has been lowered significantly.Two giant borei developers such as Borei Piphup Thmey and Borei Peng Houth lowered their required down payment to 10 per cent. On some special occasions, the initial down payment is lowered to only 1 per cent or even nothing at all. In this special occasion, one needs only a Cambodian National ID to buy a home and a small amount of security deposit, between $500 and $2,000 to sign a Sales and Purchase Agreement which stipulates how much buyers will pay for monthly payment, such as $625 per month, for a certain period of time. Maybe 15 years. The same contract which also stipulates that the house which buyers purchased will be completed and ready to be handed over in the near future, maybe in the next 18 months. In a sense, most easy home loans are applied to only houses which have not built yet. On top of that, in case that home buyers miss their monthly payments as written in contracts, borei developers have the right to take back their houses and resell them on the open market. The same contract that buyers signed also states that buyers had agreed to put their home's title as collaterals. In the event that buyers didn't fulfill their agreements such as making monthly payments on time, Borei developers have the legal right to sell those houses back on the open market.10 Million Cambodians Need Homes:Most Cambodian home buyers can be separated into two groups: the first time home buyers and existing homeowners. The first time home buyers, mostly, are people who soon or recently got married and never owned a home before, while the existing homeowners, obviously, already have owned a home. Existing homeowners are looking to buy a second or third home merely for investment purpose only. The first time home buyers are in much stronger need to buy a home. And the good news is Cambodia has around 10 million who never owned a home before. These new 10 million people will fuel Cambodia's real estate boom for the next 20 years.Ten million Cambodians are under the age of 29, and most 29-year-olds have never owned their home before. Ten million Cambodians are first-time home buyers. "Cambodia has around 5 million young people between 15 and 25 years old," confirmed Samdech Techo Hun Sen, Prime Minister of Cambodia, during the closing ceremony of the 5th University Scholars Leadership Symposium 2014. The other 5 million Cambodians, about 31% of the whole population, are between the ages zero to 14, claimed the Central Intelligence Agency (CIA). These 10 million prospective clients will perpetuate Cambodia's real estate boom in the near future. In addition to that, Cambodia's population will continue to boom. Cambodia's population is expected to hit "19 million by 2030", according to the 2015 Revision of World Population Prospects by the United Nations’ Department of Economic and Social Affairs (DESA). Which means 4 more million are coming. This is a very good condition for borei developments. There are 5 million people currently at the age of needing to buy a home, and 5 more million will reach the age of getting married and will need to buy a home, and 4 more million will arrive in 2030.No wonder the borei market is exploding. The current boom is not enough to satisfy the new 14 million people who sooner or later will need to buy a home. 14 million people is almost equivalent to the entire current (15 millions) population. What an exciting period for real estate development. Almost an entire population will need to buy a home.Find the best real estate news on Realestate.com.kh

The current real estate market is experiencing significant growth — particularly in major business district centers in the city. There’s also a growing interest for land and residential markets in suburbs. Among this growth, Chroy Changvar new development along National Road No. 6A is increasing as 2017 dawns.Chroy Changvar is climbing the market land price index as a result of the rapid development growth in the area. Prices for land in this area are rising faster than most areas of the city, as developers seek tracts of land here for large scale projects. This has attracted millions in investment from high-scale development companies for residential projects on hundreds of hectares of land in the area.Upcoming Chroy Changvar New Development Projects Along National Road No.6A:Chroy Changva is now a hotspot for high quality developments like the High Land Development Project that comes with a land area of 120 hectares; The Flora Development Project with 150 hectares; the LYP Development Project with 100 hectares; the Mekong Royal Development Project with 13 hectares; the Borey Peng Houth Development Project and the Chroy Changvar City Development Project that totals to 307.3 hectares, a satellite city project by OCIC.And recently, Orkide Villa inaugurated its third project at the Chroy Changvar area, along the national highway No. 6A. The Botanic City project has a land size of 140 hectares and is 7 kilometers away from Chroy Changvars bridge connecting the area to central Phnom Penh.The municipal has also just revealed a plan to build a new bridge across the Tonle Sap river – connecting the West Tonle Sap Riverbank and Kilometer No.6 to the East Riverbank, linked directly to the OCIC Chroy Changvar City Development Project area.All these projects will serve both local and international residents with mixed-use developments like commercial areas, businesses, offices, serviced apartments, condos, gated borey communities,  restaurants, sports areas, modern and eco-friendly industrial parks, shopping centers, markets, etc.Ms. Chev Sokhun, marketing manager of The Mekong Royal, said that “seeing as Phnom Penh has expanded, residential needs is also growing day by day. Therefore, we decided to start a project in this area.”She continues to say that they chose this area because there are rivers surrounding it, with fresh air and more space for residents. Chroy Changvar offers The Mekong Royal a chance to build a uniquely green focused development. It’s proximity to the National Highway also allows connections to other provinces easily.Mr. Cheng Mony – a customer who bought a hybrid villa at The Flora project in Chroy Changvar –  said, "I want to live in this area because it has a big road, no traffic jams - which is different from the central city. And I’m also interested in new developments here. I see several large projects that have started in this area. I think the future will be very attractive and we can expect good growth here for both lifestyle and return on my investment."What are the successful Chroy Changvar New Development projects  so far?These Chroy Changvar New Development projects have been completed totally, and have been well sold and occupied. Successful projects are ones that have been considered to have a good design, marketing strategy, sales, quality, and turnover -- making them good investments as well in terms of investment return for developers and a good quality of life for residents. Advisor of VTrust Appraisal, Mr. In Sitha, said there were successful investment projects in the area before. Those include the Borey Sopheak Mongkol, Borey Chinatown, Borey New World, Mekong View Condo,  the Mekong Garden Condo, and many more. Those projects was already sold and now being living by residents.What is the potential in this area in the future?Mr. In Sitha, said that Chroy Changva is like a peninsular. It is geographically good for living in because it’s lined up alongside rivers, a smog-free place and and an eco-friendly natural environment.  He adds that infrastructural and transit systems have improved which makes it more convenient to commute for residents. Price of land in this area is still steep but offers more possibilities for developers to invest. Land prices are pretty high on the main road area. The current land prices also increased by half compared to 2 or 3 years ago. Sitha also said that “because of a potentially big investment to transform the area into a major commercial hub, there are also more projects diverting their direction there.” For now, no matter how small or how large the projects are, they can find success because there are customers at all levels. Local customers will gain satisfaction from a local lifestyle by choosing a flat or borey. And the high-end customers or foreigners can choose a modern lifestyle by living in a condo.Mr. Chrek Soknim, CEO of Century 21 Mekong, said Prek Leap, Chroy Changva is a good place for residential development. He adds that there are currently more people moving into the area and that housing developments in the area are very successful.All Property for Rent in Chroy ChangvaBuy Property in Chroy Changva