Observers project a ~5% GDP growth for Cambodia in 2022. Photo from Khmer Times.Knight Frank, a global real estate consultancy firm, recently came out with their Asia-Pacific Outlook Report 2022 and shared their outlook on shifts and trends likely to come out of COVID-19.Residential market heats up, affected by work-from-homeMuch like in Cambodia, the rest of the region shares affordability concerns. However, Knight Frank’s report notes that fear of missing out continues to drive mainstream prices up. Out of the 24 cities in Asia Pacific tracked, 18 saw prices grow, half of which recorded double-digit increases since the start of the pandemic.The report adds that construction delays across APAC resulted in record-low interest rates and lack of available supply, sustaining a bull run of prices across the region. Knight Frank projects residential prices across the region grow approximately 3-5% in 2022.Knight Frank included findings from their Global Buyer Survey 2021 and highlighted the importance of work-from-home, health and well-being as top factors for residential buyers in the region.When it comes to property features, APAC respondents put Access to High-Speed Broadband on top of their list, followed by Home Study/Office and Availability of Outdoor Space. Similarly, in terms of location, surveyed respondents put Air Quality on top, followed by Proximity to Green Spaces and Access to Healthcare Facilities.“Residential markets across the Asia-Pacific region could continue to strengthen in 2022 as the region starts to recover in the endemic phase. With more quarantine-free travel lanes reopening, foreign buyers could return to key gateway markets sooner than expected. Now is the best time for domestic buyers to pick up their dream homes in view of the potential policy interventions that could hamper purchasing prospects in 2022.” said Victoria Garret, Head of Residential, Knight Frank Asia-Pacific.Tech firms to drive office leasing sectorKnight Frank’s APAC report cites the tech sector as the pillar of office space leasing in a time of work-from-home. The report explains that the period of restricted movement and social isolation has only increased the demand for more digital services and integrations.The report concedes that although the level of new supply remains manageable across the region, vacancies are still expected to rise from the current 13-14% to 14-16%. Knight Frank expects tech companies to continue driving leasing activity in the meantime.With much of the region swinging towards a tenants’ market - including office spaces in Phnom Penh - the report advises current occupiers to capitalize on the current window to secure better lease terms or re-evaluate requirements in supply heavy markets before the recovery gains further traction.What does this mean for Cambodia?Realestate.com.kh reached out to Ross Wheble, Country Head of Knight Frank Cambodia, to contextualize regional trends in the Kingdom. “For the residential sector, we will see a two-tiered market with landed housing continuing to outperform the condominium sector, which is expected to see minimal price growth in 2022,” he said. Despite the shift in landscape, foreign investors are still considering Cambodia as an investment destination.“We generally see three key factors that attract investors to Cambodia: the ease of ownership for foreign investors, being able to own freehold title; the dollarised economy which makes it attractive as a currency hedge; the expected capital appreciation over the medium term as a developing frontier market with one of the fastest-growing economies in the world,” explained Ross.Cambodia’s office spaces have similarly seen growth in the past few years. “Current supply stands at approximately 573,472 sq m with an average occupancy rate of 72%,” said Ross “However, supply will more than double over the next four years placing pressure on both occupancy and rents.”He reveals that occupancy for office spaces in Cambodia is driven by the FIREB sector (Finance, Insurance, Real Estate and Business Services). “But we are also seeing more demand from Fintech and other tech companies,” he noted.On the topic of hybrid workspaces, Ross says, “Whilst some companies will adopt a hybrid workplace strategy the challenges of multi-generational living, as well as Cambodia's IT infrastructure, will likely see most companies resuming full office-based working.”Knight Frank’s Asia-Pacific Outlook Report 2022 forecasts Cambodia’s GDP to grow by ~5% in 2022. The ADB and the World Bank projects similar growth given Cambodia’s economic reopening through simplified travel requirements and its highly vaccinated population.Looking for property investments in Cambodia? Let us help!Article by:

Lawrence Lennon, MRICS, is the new Managing Director of CBRE Cambodia and will tackle alternative segments coming into 2022. Photo from CBRE Cambodia.Phnom Penh, Cambodia - CBRE appointed Lawrence Lennon as its new Managing Director. He will be taking over the position from James Hodge, having been in CBRE’s Cambodia office since 2016. James Hodge is reportedly returning to the United Kingdom early next yearLawrence is a member of the Royal Institution of Chartered Surveyors (RICS) and has worked in real estate investments in the United Kingdom, Mongolia, Myanmar and Vietnam. Lawrence Lennon joined CBRE in 2021 as its Associate Director overseeing its Professional Service Teams and leading major consultancy and valuation projects for both Cambodian and international organisations.In a press conference last December 9, Lennon thanked Mr. Hodge for the work he has done over the years and will continue to improve and expand CBRE’s services coming into 2022.Kinkesa Kim, known for leading CBRE's Research and Consultancy, was recently appointed as one of its new Associate Directors. Photo from CBRE Cambodia.In addition, Kinkesa Kim, previously one of the firm’s Senior Managers, has been appointed as its new Associate Director for Research and Consultancy. Kinkesa has an extensive background in market research and the provision of valuable consulting advice developed from her years of working within the Kingdom’s growing market.CBRE’s Lawrence Lennon, in a press release, highlighted that he is already working on tackling alternative segments in 2022. As its new Managing Director, Lennon is taking a look at manufacturing, agriculture, logistics, e-commerce, fintech, and energy.Lennon sees manufacturing as a center point of Cambodia’s development. “The opportunity in Cambodia’s manufacturing stems from it being able to leapfrog thanks to modern technology being readily available.” He notes that further infrastructure development and crafting practical policy frameworks will be vital in realizing Cambodia’s potential.He adds, “We are looking forward to seeing how the market can make further improvements in areas such as urban planning and ESG (Environmental, Social, & Governance) practices - both becoming important points of discussion as the country continues to rapidly urbanise,” said Lennon.Part of his plans also highlights increasing regional connectivity with CBRE’s neighbouring counterparts to leverage their expertise and resources to provide better advice and services to their clients.“I am very proud to take on this role at a turning point in the country’s progress in the pandemic. Despite the short-term challenges, we at CBRE are cautiously optimistic, and look forward to helping our clients navigate a rapidly developing market,” said Lawrence Lennon, Managing Director of CBRE Cambodia.Looking for property investments in Cambodia? Let us help!Article by:

Need a quick run-through of the most popular projects in Cambodia today?Realestate.com.kh, the country’s largest real estate classifieds portal, is visited by several hundred thousand users every month all searching for condominiums, shophouses, linked houses, and villas for sale/rent in Cambodia.New developments, in particular, are a key interest among local and international buyers. To help get you started, we’ve listed the most-visited projects on Realestate.com.kh this month!Phnom Penh Galaxy GardenLocated in the fast-urbanizing location of Sen Sok, Phnom Penh, this development offers a mid-range investment opportunity to local and international investors.Phnom Penh Galaxy Garden offers urban amenities such as; skyline views of Phnom Penh City, sky deck & glass skywalk, swimming pool, fitness center, spacious parking lots, 24-hour security services, lobby services, and housekeeping.Developed by the well-experienced, Shanghai-based JINGDI group, this world-class development is a stone's throw away from AEON MALL 2, Cambodia’s largest shopping center, and around the corner from MAKRO Supermarket.Learn more about Phnom Penh Galaxy GardenWorldBridge Sport VillageWorldBridge Sport Village is set to be Cambodia’s first-ever all-in-one sporting and residential development. Located in the fast-growing area of Chroy Changvar, and just 20 minutes away from the Central Business District of Phnom Penh, WorldBridge Sport Village is filling a gap in the market that nobody knew was there!Chroy Changvar is a hotbed of property developments, ranging from high-rise condos in the south to sprawling Borey developments towards the north. As a developing outer district of Phnom Penh, Chroy Changvar has been receiving a lot of interest from the growing suburban living trend in Cambodia. WorldBridge Sport Village is full of potential and offers great investment opportunities to small business owners and retail outlets alike.Learn more about WorldBridge Sport VillagePARC 21 ResidencePARC 21 Residence is a Singaporean-led project that has been a popular residential and investment choice for both Cambodian and foreign investors. Due to its prime location and amenities, Parc 21 Residence is expected to yield high rental returns with minimum risk.It’s also worth noting that this development has been constructed in an area that is earmarked for massive urbanization and development in the next 10 years, and it’s not hard to see why! Surrounding areas include attractions such as AEON Mall 1 and the Russian market, while still being close to central districts like 7 Makara, BKK1, and Daun Penh.Learn more about PARC 21 ResidenceM ResidenceM Residence is a new addition to Realestate.com.kh’s list of most visited projects!Located in BKK1, it’s quite hard to miss why this project can get traction in so little time. Its location allows it easy access to all the things that make BKK1 popular with its wide selection of shops, restaurants, bars, cafes, schools, office buildings, and everything in between.M Residence’s units also offer an ideal residence, whether long or short, for those looking to stay in Phnom Penh’s most culturally diverse district. M Residence mirrors its surroundings by delivering a complete living experience with its neatly decorated design and facilities such as a gym and swimming pool.Learn more about M ResidenceLe Condé BKK1Cities are the perfect testing ground for new residential technology and Cambodia definitely has its fair share. Le Condé BKK1 leads the pack as the premier choice for smart living and matches that with green space all within its spacious halls.Le Condé BKK1 is located in the district’s south-central area surrounded by a myriad of shops, cafes and restaurants that make this area popular among expatriates and the local middle-upper class.Le Condé BKK1 provides many classy amenities and facility services to support the tranquility and quality living of the resident including a spacious lobby, an infinite swimming pool, a spectacular view of Phnom Penh Skyline, a sky bar, a gymnastic room, a yoga room, conference rooms on the 32nd floor, a reading space, a jogging track, a spacious sky garden, concierge services, room services, and parking lots.Learn more about Le Condé BKK1

Cambodian and Thai authorities are looking to reopen several land border points between the two countries. According to a report by the Khmer Times, 4 permanent border crossing checkpoints can be reopened by December 16, specifically, the points in Ban Khlong Luek Poipet and Ban Khao Din-Ban KM13, and the cross-border trade points Ban Nong Prue-Malai and Ban Ta Phraya-Ban Bueng Ta Kuan.The Ban Klong Luk Border in Poipet is one of the most used crossings for both people and goods traveling between the two countries.The border reopenings come from a decision made by both Cambodian and Thai authorities last Nov 25, 2021.Why were the land borders closed?Land borders were closed between Cambodia and Thailand due to pandemic fears. A considerable number of tourists and workers pass through the border checkpoints every day, especially in Poipet, and border closures were implemented to reduce instances of imported cases.Preparing for an economic reboundPrior to the pandemic in 2019, Cambodia received over 460,000 Thai tourists - a 20% increase from 380,000 Thais who visited in the previous year. Thailand was the 3rd largest contributor of international tourists in Cambodia, right behind Vietnam and China.Borders reopening also allows more tourists to enter either country and contribute to the revitalization of both nations’ ailing tourist economies.Earlier in November 2021, the Cambodian Embassy in Thailand released a report citing an increase in bilateral trade between the two countries. The report observed an increase of 18% in the first nine months of this year compared to the previous year. Bilateral trade between the two neighbours is valued at nearly $6 billion dollars in the first 3 quarters of 2021.Looking for property for sale/rent in Cambodia? Let us help!Article by:

The PARC 21 ResidenceOFFER:Discount 8% on all unitsFully-furnished units, including electric appliancesAdditional discount of 5% depending on payment optionFirst 3 buyers get FREE iPhone 13 Max 256GB (upon SPA*)PARC 21 Residence is a 21-storey building with a total of 132 residential units with a balcony. Located in Boeung Trabek, Chamkarmon, the project is one of the newest developments in an area already popular with locals, expatriates, and tourists for its many shops and restaurants. Its surrounding vicinity is a mix of central business districts and areas earmarked for massive development in the next 10 years.Inquire about PARC 21 ResidenceWorldBridge Sport VillageOFFER:Get $1000 off your booking fee!Get a discount of up to $7,000 on selected property typesPay 0% interest on all down payments for 60 months The WorldBridge Sport Village (WBSV) is one of the most anticipated projects soon coming to Cambodia. Located in Chroy Changvar, it will be the first-ever sports village in the Kingdom and is the designated host of the upcoming SEA Games 2023 and ASEAN Para Games 2023.The project’s most iconic landmark is the directly adjacent 60,000-seater Morodok Techo National Stadium, specifically built for the upcoming regional games and other future events in Cambodia.Inquire about WorldBridge Sport VillageThe Peninsula Private ResidencesOFFER:Discount up to 15% on fully furnished unitsThe Peninsula Private Residence is a multi-awarded project having won the Best Interior Design and Best Architectural Design awards during the 2019 Cambodia Asia Property Awards. This project boasts a unique blend of a private residence, varied facilities, and hospitality-inspired services. The Peninsula Private Residences is the project believed to have put Chroy Changvar on the map of both local and international property seekers in Cambodia.Inquire about The Peninsula Private ResidencesOlympia CityOFFER:Special price $88,888 ONLY (only 2 units available)Discount up to 40% (for other units)The Olympia City is arguably one of the most centrally located projects in downtown Phnom Penh. It is a completed mixed-use development in 7 Makara district with high-rise residential towers supported by purpose-built a shopping mall (The Olympia Mall) and a myriad of local businesses in its surrounding area.Inquire about Olympia CityVue AstonOFFER:Special price for selected units, starting from $97,260 (One Bedroom - 56.4sqm gross area)FREE furniture and electrical appliances packageFREE iPhone 13Pro 128 GB for 30% down paymentThe Vue Aston sits at a waterfront scenery and certainly delivers on a residence built around it. The project pursues high-quality living and satisfies the increasingly sophisticated taste of Cambodian buyers. Vue Aston is already being touted as a choice for urban elites looking to live a luxury lifestyle outside the hustle and bustle of the city center.The Vue Aston is being built close to the upcoming bridge connecting Nirouth, Chbar Ampov and Koh Pich (Diamond Island). It is also adjacent to the upcoming satellite city in Nirouth developed by the Overseas Cambodia Investment Corporation (OCIC) to the tune of US $2.5 billionInquire about Vue AstonMorgan EnMaisonOFFER:River View Units, starting from $660/month, up to 15 years installmentsDiscounts up to $1,888FREE TV, Washing Machine or Refrigerator when signing SPAPay 20% down payment and receive an iPhone 12Morgan EnMaison, which is located on Mekong River Road in Phnom Penh’s Chroy Changvar district, is set to be a riverfront landmark by the Morganford Investment (Cambodia) Co., Ltd. There will even be a private helipad on the 220-metre high rooftop. Morgan EnMaison treats its residents with a multi-level luxury sky club that will give a unique appeal to the skyline. The development also boasts a private yacht marina, one of the few found in Phnom Penh.Inquire about Morgan EnMaison

Cambodia is expected to see a rebound of ~5% according to Knight Frank’s APAC 2022 Outlook Report. Photo from Khmer Times.Cambodia’s reopening has been well underway since October-November 2021. Multiple sectors, especially real estate, are already positioning themselves for the Kingdom’s economic rebound. In late November, Realestate.com.kh reported property developers are looking at price increases over the next 12 months. This begs the question: “Is now a good time to buy before property prices rise?”“Over the past six months, condominium prices in all positions: Affordable, Mid-range, and High-end, have corrected downward by an average of -4.6%. Mid-range and High-end experienced the greatest correction, partly due to developers having marginally more room for price adjustment compared to Affordable,” said Lawrence Lennon, the newly-appointed Managing Director of CBRE Cambodia, an international real estate service provider.Lawrence reminds us of the importance of assessing investments on a case-by-case basis despite the expected growth, saying “Consider a range of factors such as location, project positioning, developer profile, construction quality, unit density, age, price, etc. Put simply, do your homework before acquiring any property.”Ross Wheble, Country Head of Knight Frank Cambodia, a global real estate consultancy, similarly recommends foreign buyers observe the market before making decisions.“Whilst we are certainly bullish for 2020 and expecting a strong rebound in the economy in 2022,” said Ross. “We would recommend still holding off over the short-term as uncertainty remains over global travel restrictions which will impact on foreign investors traveling to Cambodia. With the available stock in the market, we do not foresee price increases over the short-term.”Construction around Phnom Penh has resumed with some projects running 24 hours. Photo from Khmer Times.Prior to COVID-19, Phnom Penh became a hub for investors as many of the new developments in Cambodia are found in the capital city. The pandemic, however, upended the boom and left many developers shifting strategies. But as with any door that closes, another opens.“This is very much dependent on an individual investor's investment strategy, asset type, timeframe, and risk appetite” cautioned Ross, “But we are certainly seeing a lot more activity in the coastal provinces of Kampot and Kep, which will benefit from the investment into the area in preparation for the Southeast Asian games in 2023”Ross highlights that while other areas are seeing promising developments, Phnom Penh will always have opportunities across all sectors given it’s the capital city and the economic hub of Cambodia.“We are now seeing notably higher demand from Cambodian tenants for condominium rentals. We believe there is now a level of support in the rental market at between (US) $300 to $400 per month for one-bedroom units catering to many domestic occupiers,” he said. Ross notes that ASEAN-Expatriates are also contributing to this market demand.Cambodia recently reopened commercial flights from neighbouring countries such as Thailand, Malaysia, and the Philippines following new travel rules for foreigners issued in November 2021.“Where condominium prices go over the next 12 months will heavily depend on overseas buyers' ability to purchase and travel,” said CBRE’s Lawrence Lennon. “Conversely, Q3 '21 witnessed more positive activity in the landed property market, with most sub-categories correcting upward on average price by 11% during Q2 & Q3 - a reflection of Cambodian buyer's preference for landed property over more high-rise formats, though a trend bolstered by the high number of new launches.”“If an investor is looking at Phnom Penh, land prices coming at around US $30 per sqm at the outskirts of the city are definitely worth checking,” said Malay Nop, Branch Manager for IPS Cambodia, a premier real estate agency servicing expatriates and Khmer buyers. She adds that work on national roads across the country is driving prices up. “Land close to the National Road 4 also offers high potential returns, especially around Kampong Speu which can be had for US $5 to $10 per sqm.”“The old adage of 'location, location, location' still holds true but so does 'price, price, price'.” said Ross. “With support in the rental markets at circa $400 per month, there are still opportunities in the condominium sector to generate net returns of 7% but the projects need to be well-located and at a competitive price.”IPS’ Malay Nop agrees, “There are a lot of opportunities now that Cambodia has largely reopened. It’s advisable, especially for new investors, to consult real estate professionals before making decisions”.Looking for property investments in Cambodia? Let us help!Article by:

Phnom Penh’s skyline continued to see new additions to its skyline despite the looming threat of COVID-19. In 2021, projects like the Peninsula Private Residences, PARC 21 Residences, The Peak, R&F City, L’attrait Boeung Keng Kang, and Picasso Sky Garden, are a few of the new developments in different stages of topping out and hand over.The fast and loose construction practices seen no more than 2 years ago seem to have dissipated after the implementation of the comprehensive Construction Law. But the lack of major accidents has not been a sign the government has stopped modernizing its construction practices.In late 2021, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) announced the “Procedures for Supervising and Confirming Architectural Design Plans and Construction Assemblies”, requiring project owners/developers to submit their design (along with already established requirements) for approval from the MLMUPC and/or the capital/provincial administration before being granted a construction permit.New documentation requiredDesign plan: Refers to technical documents for construction work, including architectural plans, building assembly plans or plans and other technical instructions for construction or dismantling and construction use.Project review and certification: refers to the inspection, analysis, verification and certification of compliance with construction technical regulations and other applicable regulations of the design project, calculation of technical instructions for new construction work, repair work, remodeling work, demolition work or change of construction use function as a basis for the competent authority or competent official to provide construction permit, repair permit, dismantling permit, construction permit and new construction use certificate.Necessary documents for applying for a building permitPursuant to Article 9 of the Sub-Decree on Construction Permits, in order to be able to apply for a permit, the property owner must attach the following documents: Certificate of ownership of immovable property or certificate of right to use immovable property or temporary title deedLand title deed and building location plan in the lotArchitectural Engineering Design and ProjectApplicant's Cambodian Identity CardApplication for a construction permit with the signatures of the landlord and the developer. (All construction permit application forms must be made in Khmer and articles in English and French can be attached to the letter of application).According to the "Construction Law", Article 54 clearly states that the competent authority must take action to stop the construction or dismantling work without a permit in case the construction or dismantling requires a permit.In particular, in Sub-Decree No. 224 dated December 30, 2020 on the construction permit, it is stated that all the beginning of the construction process of new construction, modification work, installation work and dismantling work, etc. must have a permit to open the site. Construction first.After receiving the construction permit, the construction owner must apply for another construction permit from the General Department of Construction or from the Board of Governors of the Capital, Province, Municipality, District and Khan according to the size of the construction area. When applying for a permit to open a construction site for construction work, the construction owner must attach the following documents:Construction permitConstruction component design projectGeological study documentsHandbook of construction workConstruction contractOther technical documents for construction workDocuments confirming the signing of the insurance contract, the responsibility for the construction site with the insurance company.Please also note that at the end of the construction work, the construction owner must apply for a permit to close another construction site from the competent authority.Looking for new developments in Cambodia? Let us help!

Real estate markets often bounce back after external shocks either pass or become more manageable. Supplied.Property developers are looking to gradually increase prices in the next 12 months following the country’s economic reopening. This is off the back of the recent easing of measures in October followed by more practical requirements in mid-November - a move welcomed by multiple sectors and made Cambodia a leader in regional reopenings.Realestate.com.kh, the Kingdom’s largest property classifieds portal, reached out to several property developers to gauge their response to Cambodia’s reopening and potential price increases in 2022.“I think that most developers will raise the price when the restriction is eased,” said Wayne Wang, Co-Founder of LumiArch Global, one of the companies behind Le Condé BKK1. “Several developers have already made plans and carefully discussed when they should raise the price,” Wayne noted that though developers are looking to increase prices, they will not be raising them in the short term.“15% to 20% would be what most developers will do, I believe. Any lower than 10% barely alleviates the pressure developers have been experiencing. On the other hand, too much of an increase would slow down sales and reduce the project’s competitiveness” he said.“The price increase is expected,” said Ethan Liu, Deputy Director of Marketing for Vue Aston, a new waterfront development in Chbar Ampov. “Phnom Penh is a fast-developing area attractive for foreign investors. The larger market is already rising, and some developers will adjust the falling prices back to pre-pandemic values.”“We are confident that the average increase will be more than 7%. It will even be much easier for projects who have adapted to local needs to attract foreign investors,” said Ethan. The PARC 21 Residence is one of the projects expected to raise prices as it recently topped out and is on schedule to hand over in mid-2022. Supplied.Developers had to adjust their sales and marketing strategies to meet local preferences for the past 2 years. This was a challenge to many developers who had foreign buyers in mind when they entered the market.Wayne Wang notes that besides international customers being unreachable, there are two other reasons for price drops, “One is that developers are also in tight competition from each other to attract more local Khmer buyers. The most common way of marketing to locals has been to give generous discounts, therefore causing the price of the properties to go down. At the same time, some projects who are approaching handover, also deployed strategies like dropping the price intending to lead to more sales.”Riya Kim, Planning Assistant for La Vista One, a new development in Chroy Changvar, offers a more grounded view, “Housing prices saw a downward trend because most of the local market also had financial and income problems during the pandemic. Most consumers did not want to spend outside of basic necessities.”Real estate markets often bounce back after external shocks either pass or become more manageable. How COVID-19 has been managed in Cambodia has allowed much of its economy to breathe after almost 2 years under a pandemic.“Easing restrictions and re-opening is one thing, but bringing confidence back to the market is another,” Wayne notes. “There are other factors like the price of the air tickets, whether it is really safe to travel, etc.”. While property developers may be looking to increase prices, they are looking to do so gradually as the market regains its footing under Cambodia’s new quarantine regime.Looking for property in Cambodia? Let us help!Article by:

Did you know this spacious bedroom with a riverside view comes for less than $1,500 per square metre in Phnom Penh? Supplied.Cambodia’s property market has seen a surge of interest in the past half-decade. Global pandemics aside, the surge stems from the sector’s promise, made evident by half a year of consistent growth and relatively lower prices compared to its neighbours.Realestate.com.kh, Cambodia’s largest property classifieds portal, has over 30,000 (and growing) property listings across the country. In an effort to connect buyers with the right property, we compiled a list of the top projects with asking prices under $1,500 per square metre:WorldBridge Sport VillagePRICE: $1,183 per square metreCOMPLETION: 2023The WorldBridge Sport Village (WBSV) is a massive development coming soon to Chroy Changvar. Developed by WorldBridge Group, this new project is set to become the first sports village in Cambodia and will be inaugurated through hosting the SEA Games 2023 and ASEAN Para Games 2023. Its most iconic landmark is the Morodok Techo Stadium directly adjacent to it and will serve as the chief venue for upcoming international events!WBSV is a mixed-use development featuring high-rise condominiums, landed residential, and commercial areas. It is considered the most anticipated project in Chroy Changvar coming in 2023.Inquire about WorldBridge Sport VillageThe Bliss ResidencePRICE: $1,469 per square metreCOMPLETION: Completed in 2020The Bliss Residence is an affordable and high-quality residential building in Chroy Changvar. Its residential units come fully furnished with the essentials of a comfortable living. It comes with a spacious balcony overlooking the mighty Mekong river and allows residents to enjoy the cool river breeze only found in Chroy Changvar.Inquire about The Bliss ResidenceMekong View Tower 6PRICE: $1,290 per square metreCOMPLETION: Completed in 2020Its location is arguably chief in what makes the Mekong View Tower 6 such a fine choice within the mid-tier market. The Chroy Changvar district has long been the subject of much speculation within Phnom Penh’s property market. Now that developers have taken a keen interest in the area, retail stores, schools, restaurants, and even government agencies are starting to set up shops in the district.Residents in the Mekong View Tower 6 are sure to find something worthwhile outside their comfortable homes.Inquire about Mekong View Tower 6City GemPRICE: $1,196 per square metreCOMPLETION: 2023CITY GEM is an affordable housing development project that targets local buyers. This condominium is designed and built to meet international standards and suit residents who seek a moderate living lifestyle.CITY GEM Condominium is located in the Sen Sok district, Phnom Penh which is a new real estate development location comprising residential and commercial development.Inquire about City GemResidence L Boeung TompungPRICE: $1,504 per square metreCOMPLETION: Completed in 2021Residence L Boeung Tompun is located in Phnom Penh’s Meanchey District which is one of Phnom Penh’s property development districts experienced in the growth of infrastructure, commercial, and residential development.To support the comfortable living of the residents at Residence L Boeung Tompun, the developer will also provide the amenities and facilities including a swimming pool, gym, jacuzzi, sauna, garden, common space, elevator, internet, TV cable, alarm system, video security, fire alarm, fire sprinklers, and backup generator.Inquire about Residence L Boeung TompunResidence H Sen SokPRICE: $1,123 per square metreCOMPLETION: 2024The Residence H is a condominium project with 28 storeys launched by Residence H Cambodia with the concept of graceful living. The building is set to be a glaring building in the middle heart of Phnom Penh.The Residence H is located in Sen Sok district, and is seeing massive residential and commercial developments. Residence H is interestingly alongside hassle-free rides to Cambodia Airport and all major commercial and business areas.Inquire about Residence H Sen SokArakawa ResidencePRICE: $1,326 per square metreCOMPLETION: 2022Known for its famous category as affordable housing, Arakawa Residence is ideal for limited budget buyers who are looking for ownership in a house that is located in the centre of the city. From the bottom to the top, Arakawa Residence is carefully crafted to ensure you have your dream home. Located in Sen Sok District, this development is great no matter if you are purchasing to reside or to invest back.Inquire about Arakawa ResidenceGreen Leaf ResidencePRICE: $1,178 per square metreCOMPLETION: 2022Green Leaf Residence is a new and exciting apartment project in Phnom Penh. As Purple City Real Estate’s maiden investment here in Cambodia, the developer promises to bring ‘Affordable & Quality Apartment Living’ straight to local clientele.Inquire about Green Leaf ResidenceThe Seven ResidencePRICE: $1,384 per square metreCOMPLETION: 2021The Seven Residence is offering a sleek space in a 27 storey building. Each unit offers plenty of amenities and facilities that you need for a comfortable life in the city. Units span from 51 square metres to 70 square metres. The unit is a blank canvas that you can outfit and customize to your heart’s content.Inquire about The Seven Residence Condominium

Join the Cambodia Real Estate Awards and be a part of one of the most prestigious real estate events of the year. With leading real estate professionals and developers in attendance, sponsors of our events are afforded the opportunity of engaging and networking with participants who invest billions of dollars in their businesses, developments and projects annually, and are continuously looking for new contracts, suppliers and related services.Sponsor the Cambodia Real Estate Awards 2021-2022By sponsoring the Cambodia Real Estate Awards (CREA) companies will have their brand and name directly linked to this prestigious event. The mission of the CREA is to recognize the achievements of the Cambodian real estate industry objectively, without bias or undue influence and on a wholly inclusive basis. With limited sponsorship opportunities available, brands are proud to be associated with CREA.The awards will be available for real estate agencies, valuation firms, property management companies, developers and developments, nationwide. This will give recognition to your company in the real estate sector as it becomes a recognized brand among leading industry professionals.By directly associating your brand with this prestigious event you can benefit from our reach through our extensive pre and post-event advertising campaigns across multiple mediums. During the gala dinner brands will also benefit from logo and display exposure. There will also be a major digital component where the gala dinner will be broadcast across national television, streamed premier-live on The Cambodia Real Estate Awards Facebook page as well as core-partner Facebook pages including; realestate.com.kh, B2B Cambodia, Freshnews & more.If you are interested in entering the awards or becoming a sponsor of the Awards, please click on the link to the official website below, or find contact information below. Sponsor the Cambodia Real Estate Awards 2021-2022Key ContactsCambodia Real Estate Awards - Sponsorship Contacts:Name: Jeff Steeves Position: Business Development ManagerEmail: jeff.steeves@realestate.com.kh Phone: +855 (0) 85 250 962Developers & Development Awards Entry Contacts:English & Khmer: Name: Khiem Darina Stefania (Steff) Position: CREA Developers & DevelopmentEntry Facilitator & REAKH Relationship Manager Email: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Developers & Development Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379Agency Awards Entry Contacts: English & Khmer: Name: Tin Mashington (Ton) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: ton.mashington@realestate.com.khPhone: +855 (0) 81 305 205Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379

Cambodia is home to a population that’s increasingly becoming more involved in its property market. As a result, many local and international agents have sprung up to help property owners and seekers alike in connecting with one another.In an effort to encourage activity, Realestate.com.kh has partnered with the Kingdom’s most reputable agents and built an Agent Directory, complete with their logo, description, and listings for the benefit of property owners and seekers!Realestate.com.kh recently updated its Agent Directory and is now calling all agents - both new and old - to update their agency descriptions, listings, and photos.Cambodia Real Estate Agents DirectoryMost important things to update for agents:Update agency logoUpdate agency description, highlight any awards wonUpdate agency photos (if any)Update registered listingsUpdate agent rosterRealestate.com.kh endeavours to foster increased trust between agents and property seekers & owners by creating an easy-to-navigate directory. If you are an agent listed and have properties on Realestate.com.kh, this is your chance to create a professional profile of your services today!Looking to list your property? Let us know!

BLACK FRIDAY SALE ALERT!What: Black Friday Sale - WorldBridge Sport VillageWhen: November 26, 2021 @ 12:00pm - 6:00pmWhere: WBSV Showroom & 3A Lobby, The BridgeThe WorldBridge Sport Village (WBSV) will be hosting a BLACK FRIDAY SALE this coming Friday in The Bridge Mall. Limited-time discounts will be available along with freebies and the chance to learn more about residential and investment opportunities in and around the WorldBridge Sport Village.Register for Black Friday SaleGoogle Map for Black Friday Sale:What to expect from Black Friday Sale:Exclusive discounts up to $7,000 for Black Friday Sale buyersNewly completed showrooms for 2 and 3-bedroom unitsTake a crack at Golden egg prizes to win home appliancesTalk with agents & developers and get to know the project betterAll interested buyers are encouraged to register by clicking the button below!Register for Black Friday Sale

Given the growth of Cambodia’s economy, the rise in income has contributed to a thriving real estate market. This has led to many Cambodians purchasing homes and property for the first time. But taking out a loan for a home or property is a major financial commitment in life for many. Depending on the type of loan, you may be committing yourself to up to 30 years of installment payments. And what will happen to your home or property if you suddenly die or become totally disabled due to an unfortunate event? Someone in your family will have to fulfill the loan obligation and continue with the loan repayment, otherwise, they will ultimately face foreclosure. This is where Loan Protection Insurance comes in.What is Loan Protection Insurance?Loan Protection Insurance is a type of insurance policy designed to provide you financial protection in the case of death or total disability to cover your loan obligation so your family will not be burdened with paying off your debt. There are different types of Loan Protection Insurance with coverages and benefits that vary between insurance providers but generally, there are two options to choose from which are level and decreasing coverages.Level – refers to coverage that remains fixed throughout the term of the loan. If the benefit payout is greater than the outstanding loan balance at the time of death or total disability, the excess amount will be provided to your family or loved ones.Decreasing – refers to coverage that decreases throughout the term of the loan to match the outstanding loan balance as the principal balance is repaid. Decreasing coverage is generally less expensive than level coverage with a similar coverage amount and term.Eligibility and CostsThe acceptance of coverage and the insurance premium amount for Loan Protection Insurance will depend on a variety of factors including your age, gender, loan interest rate, coverage amount, term, and health condition. Generally, the healthier and younger you are, the lower the insurance premium amount will be.Is It Right For You?The question of whether Loan Protection Insurance is right for you is largely dependent on your specific needs and situation. If you are worried that your home or property will be foreclosed by your lender in the case of your death or total disability, Loan Protection Insurance could be a great option to provide you and your loved ones with a peace of mind. It can be an inexpensive alternative to cover your family’s long-term financial needs compared to settling the outstanding loan when no insurance coverage is in place. Be the responsible person by minimizing your financial risk through insurance and leave a legacy of love for your family, not your debt!If you think Loan Protection Insurance is something you require or if you would like to learn more about it, please contact us today!Inquire about Loan Protection today!

The Cambodian Water Festival is a celebration of renewal and bounty symbolized by the end of the monsoon season. If anything, the recent news of the country reopening clears the cloudy skies much the economy has been under for the past 2 years.To celebrate this season of renewal, Realestate.com.kh has compiled time-limited promotions offered by new developments in Cambodia!New developments in CambodiaWorldBridge Sport VillageWorldBridge Sport Village is a new development in Chroy Changvar. It will be the first-ever sports village in Cambodia, offering a healthy and active lifestyle for future residents! The opening of the WorldBridge Sport Village will be alongside the upcoming SEA Games 2023 and the ASEAN Para Games 2023.Special Offer:Get an instant discount from $2500 - $4000 for all types of CondosGet an instant discount from $5000 - $7000 for Row Houses, Town Houses and Semi-D VillasUp to 60 months installments with 0% interestUp to 8% discount for landed properties and up to 10% discount for condos (based on payment terms)Free Home Equipment: Air-conditioner, Lower Kitchen Cabinet, Shower Set, Kitchen Hood, Electric Hob, etc…WorldBridge Sport Village Property ListingPARC 21 ResidenceThe PARC 21 Residence is a brand new residential development rising in Chamkarmon. The Singaporean-designed project took Phnom Penh’s property market by storm back in mid-2021 for its great location, on-schedule construction, and overall value proposition for both local and international buyers. The project recently celebrated topping out back in September 2021. The project is set for handover in June 2022.Special Offer:Long-term payment plans up to 10-yearsLow-interest rate for applicable loansPARC 21 Residence Property ListingOlympia CityOlympia City is a completed development in the central district of 7 Makara. Olympia City is well-known for its strategic location at the intersection of major roads and nearby the Olympia Mall. It is adjacent to the National Olympia Stadium - a popular destination for city-dwellers looking for a place to stretch.Special offer:Special price $88,888 ONLY (only 2 units available)Discount up to 40% (for other units)Olympia City Property ListingVue AstonVue Aston is a new waterfront development rising in Chbar Ampov. The Vue Aston is one of the most anticipated projects in the district as it is expected to attract affluent residents and investors. Additionally, it is adjacent to the upcoming multi-billion-dollar satellite city development by OCIC and sits comfortably near the new bridge directly connecting Diamond Island and Chbar Ampov. Vue Aston is expected to complete sometime in 2023.Special offer:Special price for 9 selected units, starting from $97,260FREE furniture and electrical appliances packageFREE iPhone 13Pro 128 GB for 30% down paymentVue Aston Property ListingResidence H Sen SokThe Residence H is a condominium project with 28 storeys launched by Residence H Cambodia. The building is set to be a standout building in Phnom Penh’s fastest developing district of Sen Sok.Special offer:5% discountInstallment payment with 0% interest during the construction periodPay only 350$/per month (1 bedroom)Free management fee for 1 yearFree parking space for 1 year Residence H Sen Sok Property ListingPrince Happiness PlazaPrince Happiness Plaza is a new development project developed by the same developers of Prince Central Plaza, Prince Modern Plaza Phase 2, and the upcoming Prince Times Plaza. The development is located in Chamkamorn District, a secondary location to the South of Phnom Penh City. The vicinity area is being developed to be a new high-rise residential and commercial zone with a new number of flagship high-rise buildings and infrastructure developments.Special offer:14% Discount for STUDIO unitsPrince Happiness Plaza Property ListingWater Festival promos will be running throughout the holiday season! If you’re interested in these offers, let us know by checking the property listings or inquiring below.Looking for more new projects? Let us help!

Realestate.com.kh has over 30,000 property listings in The Kingdom of Cambodia and this number is continuing to grow every day! This month, we’ve decided to make it easy for you to find out about the most visited new projects in Cambodian real estate.Phnom Penh Galaxy GardenLocated in the fast-urbanizing location of Sen Sok, Phnom Penh, this development offers a mid-range investment opportunity to local and international investors. Phnom Penh Galaxy Garden offers urban amenities such as; skyline views of Phnom Penh City, sky deck & glass skywalk, swimming pool, fitness center, spacious parking lots, 24-hour security services, lobby services, and housekeeping. Developed by the well-experienced, Shanghai-based JINGDI group, this world-class development is a stone's throw away from AEON MALL 2, Cambodia’s largest shopping center, and around the corner from MAKRO Supermarket. Having recently topped out, Phnom Penh Galaxy Garden is now a 33-storey functional residential development and is set to deliver six types of residential units. Sizes range from 46.76 square meters to 148 square meters. The units are constructed in a blank canvas design that can be adjusted to fit the buyers' preferences. Sporting the tallest vertical garden in Cambodia and the tallest atrium at 13 meters high, this development is already turning heads.Phnom Penh Galaxy Garden Property ListingSilvertown MetropolitanSilvertown Metropolitan is a property development by Naki Group, a premier property management and development company in Cambodia. It is one of the most prominent high-end living choices in BKK1, a highly developed area with embassies, NGOs, fancy shops and restaurants, malls, high-rise condos, and expensive villas. With an experienced team of property managers overseeing maintenance and efficient daily operations, tenants can enjoy hotel-like services with the touches that make it a home.Silvertown Metropolitan is a great choice for potential investors and homebuyers. It is a completed project already delivering on the premium lifestyle that many other new developments have only promised. Silvertown has created Revenue Share and Rent-to-Own schemes to provide a safe and long-term investment for would-be investors. With competitive prices per square meter, Silvertown Metropolitan is open to both local and international property buyers.Silvertown Metropolitan Property ListingWorldBridge Sport VillageWorldBridge Sport Village is set to be Cambodia’s first-ever all-in-one sporting and residential development. Located in the fast-growing area of Chroy Changvar, and just 20 minutes away from the Central Business District of Phnom Penh, WorldBridge Sport Village is filling a gap in the market that nobody knew was there!  Its prime location also boasts quick and easy travel time to the Royal University of Phnom Penh, as well as, Garden City Golf Club & Waterpark. Most notably, WorldBridge Sport Village is located opposite the new Morodok Techno National Sports Complex and is scheduled to host athletes for the upcoming 2023 Southeast Asian Games & 2023 ASEAN Para Games.Chroy Changvar is a hotbed of property developments, ranging from high-rise condos in the south to sprawling Borey developments towards the north. As a developing outer district of Phnom Penh, Chroy Changvar has been receiving a lot of interest from the growing suburban living trend in Cambodia. WorldBridge Sport Village is full of potential and offers great investment opportunities to small business owners and retail outlets alike.WorldBridge Sport Village Property ListingPARC 21 ResidencePARC 21 Residence is a Singaporean-led project that has been a popular residential and investment choice for both Cambodian and foreign investors. Due to its prime location and amenities, Parc 21 Residence is expected to yield high rental returns with minimum risk.Starting from only $1700/sqm, and located in Chamkarmon, Parc 21 Residence is one of the newest developments in an area already popular among tourists, locals, and expatriates for its many shops, restaurants, malls, and range of property prices - from affordable to premium! It’s also worth noting that this development has been constructed in an area that is earmarked for massive urbanization and development in the next 10 years, and it’s not hard to see why! Surrounding areas include attractions such as AEON Mall 1 and the Russian market, while still being close to central districts like 7 Makara, BKK1, and Daun Penh.PARC 21 Residence Property ListingPrince Happiness PlazaPrince Happiness Plaza is located in Tonle Bassac, Chamkarmon, alongside multiple embassies, night clubs, fancy restaurants, AEON Mall 1, the BKK1 commercial area, and other high-rise buildings. The area is being developed into a new high-rise residential and commercial zone with a number of flagship high-rise buildings and infrastructure developments under construction.The development is set to be an international business complex that delivers 1,796 residential units, 5 high-class grade-A office spaces, a premium boutique, retail high-street, a luxurious five-star hotel, and other entertainment and commercial areas. The facilities within the development that are provided to suit high-class living include; the 270-degree panoramic view of Phnom Penh City, a sky bar, infinity swimming pool, spacious entrance hall, full-time housekeeping services, high-end fitness club, a vintage French pub, athletic circle runway, international standard billiards room, and social public kitchen.Being so near the prestigious Koh Pich (Diamond Island) and Naga World, a premium area that stands out when put against other areas in Phnom Penh, investors are turning their attention towards Prince Happiness Plaza and other developments in the area.Prince Happiness Plaza Property ListingLe Condé BKK1Located in BKK1, Le Condé is surrounded by embassies, NGOs, restaurants, shops, and a lot of urban-living staples! Le Condé is one of the top choices for smart living in Phnom Penh’s busy city center. This development integrates smart living technology with wide-open spaces and greeneries. It offers a modern aesthetic for interiors, with an intelligent smart-home system to control room temperature, lights, timer for housework, and energy-saving modes.Le Condé its own commercial areas within the development and is designed to be fully integrated for a full-circle living experience. Le Condé also offers many top-class amenities and services to support the tranquility and quality living of its residents, including; a spacious lobby, an infinite swimming pool, a spectacular view of Phnom Penh Skyline, a sky bar, a gymnastic room, a yoga room, conference rooms on the 32nd floor, a reading space, a jogging track, a spacious sky garden, concierge services, room services, and parking lots.Le Condé BKK1 Property ListingRealestate.com.kh is home to over 30,000 property listings composed of new projects, finished condominiums, boreys, villas, shophouses, and office spaces available for either sale or rent. If you're looking for other properties, let us know by clicking the link below:Looking for more properties? Click here

Cambodian Valuers and Estate Agents Association (CVEA) will be hosting the 23rd ASEAN Valuers Congress on November 25, 2021 (Thursday)His Excellency Dr. Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance will preside over the opening ceremony of the 23rd AVA Congress, which Cambodia will host under the theme: “Valuation in the midst of the pandemic (COVID-19)”The online conference will be held on 24-25 November 2021 through a webinar with delegations from eight ASEAN member countries, including the United States, EU, China, Japan, and Korea, etc.Mr. Chrek Soknim, President of the ASEAN Valuers Association (AVA) and President of the Cambodian Valuers and Estate Agents Association (CVEA) said “As we know, the Covid-19 pandemic has had a great impact on the global economy is almost every sector and the real estate industry is no exception. During the current economic turmoil, the responsibility of property valuation becomes even more crucial. For this reason, we will all face challenges. However, I truly believe that we will overcome these difficult times and succeed if we work together as one.”Date: November 24-25, 2021Via: WebinarOrganized by: Cambodian Valuers and Estate Agents Association (CVEA)Entry: Free-of-ChargeRegister for the webinar here

JOIN THE CAMBODIA REAL ESTATE AWARDS!NEW CATEGORY:“REAL ESTATE DEVELOPER & DEVELOPMENT AWARDS”Realestate.com.kh is proud to announce the third annual Cambodia Real Estate Awards (CREA). This awards ceremony and gala dinner will be a hybrid online & offline event and is scheduled to be held in early March 2022. The awards serve to professionalize the local real estate industry by recognizing the leading individuals, developers, developments, real estate agencies and property-related companies who are working tirelessly to bring excellence to Cambodia’s real estate industry.Given the growth of Cambodia’s real estate industry and the number of property developments either completed or currently under construction in the Kingdom, we realize the need to recognize these developments in their own right. Thus, CREA 2021-22 is pleased to announce the inclusion of the “Real Estate Developer & Development Awards” as a new category to this year’s awards ceremony.In regards to this new category being added to the CREA awards ceremony, we would like to invite all property developers and developments including landed property, condominium developments as well as commercial property from across the sector to either sponsor or participate in the Cambodia Real Estate Awards 2021-22.The CREA entry criteria have been constructed with an overriding focus on inclusiveness. This will ensure that the awards cover the large variety of real estate developments operating in the country. The CREA has become a benchmark for Cambodia’s real estate individuals and companies.There is a small processing fee associated with entering the CREA, and absolutely no costs associated with winning awards at the event. All finalists are provided the option of subscribing to a post-event marketing package. The CREA winners will be judged and, ultimately, named by a panel of industry experts. Judges will also consult public opinion obtained through online voting. Realestate.com.kh, the CVEA, and the event organizers remain wholly independent and separate from the judging process.Finalists and award winners will be granted the prestigious CREA seal. This symbol can be used in all marketing materials. Winners will receive a beautiful trophy and a certificate confirming their personal or company achievement.If you are interested in entering the awards or becoming a sponsor of the Awards, please click on the link to the official website below, or find contact information below. Enter the Cambodia Real Estate Awards 2021-2022Key Contacts:Developers & Development Awards Entry Contacts:English & Khmer: Name: Khiem Darina Stefania (Steff) Position: CREA Developers & DevelopmentEntry Facilitator & REAKH Relationship Manager Email: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Developers & Development Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379Agency Awards Entry Contacts: English & Khmer: Name: Tin Mashington (Ton) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: ton.mashington@realestate.com.khPhone: +855 (0) 81 305 205Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379Cambodia Real Estate Awards - Sponsorship Contacts:Name: Jeff Steeves Position: Business Development ManagerEmail: jeff.steeves@realestate.com.kh Phone: +855 (0) 85 250 962

At Realestate.com.kh we care about your property investments! Here are our top picks for the best real estate promotions this November.WorldBridge Sport VillageGet $1000 off your booking fee!Get a discount of up to $7,000 on selected property typesPay 0% interest on all down payments for 60 months Located in the fast-growing area of Chroy Changvar and near the National Stadium where ASEAN games 2023 will be held, just 20 minutes away from the Central Business District of Phnom Penh, this development is full of potential and offers great investment opportunities for small business owners and retail outlets. Book now! Learn more about WorldBridge Sport VillageCentury Plaza Special Topping out Promotion: LUCKY DRAW - 20% OFF on selected shop unitsCentury Plaza is celebrating their topping out ceremony and offering all customers a very special discount. To qualify for the LUCKY DRAW, buyers must first make a down payment of 30% before November 18th, 2021Highlights of Century Plaza:Price: $24,999 Handover in December 2021Over 1000 shops Century Plaza is located in a busy commercial district of Phnom Penh, and has been receiving interest from many businesses of different sizes. It features a multi-level shopping plaza, 4-star hotel with a Sky Bar rooftop and a swimming pool, as well as a large open-air garden. Century Plaza is expected to be the commercial landmark of Por Senchey and will likely be the immediate stop for international tourists and business travelers arriving through Phnom Penh International Airport.Learn more about Century PlazaParc 21 ResidenceLong Term Financing OptionsStarting from $1700/sqmLong Term Payment Plans Available - Up to 10 years!1st YEAR - 0% INTEREST Handover June 2022The PARC 21 Residence is a new residential development located in Boeung Trabek, Chamkarmon. The Singaporean project made headlines earlier this year when it closed several units worth almost a million dollars. Located in the sought-after neighborhood of BKK3, the PARC 21 Residence has been a popular residential and investment choice for both Cambodian and foreign investors and is expected to see further price increases in the coming months.Learn more about PARC 21 Residence

The attention has shifted from foreign buyers to local Cambodians, does the Kingdom’s property market still have a place for foreign property buyers? Supplied.Cambodia’s property market has changed drastically over the past year-and-a-half from COVID-19. Foreign buyers who looked to buy and visit new projects were met with travel restrictions and various other red tape, making it harder for them to pursue their investments in the Kingdom.But that was more than 18 months ago and a lot has changed with travel restrictions lifting and the Kingdom of Cambodia fully reopening since November 1, 2021.Cambodia's new travel rules for inbound foreign travelersWhat has changed in Cambodia’s property market over COVID-19?New projects like PARC 21 Residence have attracted buyers over the pandemic, especially among locals due to its value proposition. Photo from PARC 21 Residence showroom.Developers’ target market changed from foreign buyers to local Cambodian buyersPrices have adjusted downward to meet local preferencesPreviously short payment terms have been extended to accommodate a preference for longer payment plansDevelopers formed partnerships with local banks to facilitate longer payment plansA more involved local market in a fast-growing property sectorWith foreign buyers few and far between, both agents and developers shifted their attention to the local market. It is worth noting that real estate sales and marketing within Cambodia geared towards the local market has markedly been picking up pace prior to the COVID-19 outbreak and the pandemic simply accelerated the shift.Naturally, Cambodians have their own set of preferences and many in the sector have learned to change their sales and marketing approach: First and foremost, most Cambodians looking to buy a condo prefer more affordable projects with longer payment terms. Second - related to the previous point - is that there has been a good mix of Cambodian property seekers buying condos as a primary/secondary home or as an investment.Most banks have had little to do with property developers and have interacted mostly with end-financers (property buyers) even during the height of the market in 2018-2019. But with the landscape shifting, developers have been proactive in forming partnerships with banks to encourage activity by constructing long payment terms adjusted for most local buyers.How can foreign buyers benefit from this shift?Prices may be depreciating, but location certainly isn’t. Projects like the PARC 21 Residence maintain their strategic location while offering flexible payments for both local and foreign buyers. Supplied.It may appear on the surface that this only benefits Cambodian buyers. However, let’s not forget the circumstances that influenced the shift and how fundamental these changes are:Lower prices and more discountsPrior to COVID-19, a property that cost around ~$2,000 per square metre was considered affordable by a foreign buyer, but not so for a typical Cambodian buyer. Price per square metre has dropped anywhere from single digits to even 20%, depending on where one looks since the start of the pandemic.“I believe it [the change in prices] will only benefit foreign buyers as price policy has become more flexible for locals and buyers abroad can take advantage of this shift”, said Peter Guboglo, a real estate investment specialist in Cambodia.There have been a growing number of developments with lower asking prices going as low as $1,300 per square metre. Of course, these come with concessions such as the unit being unfurnished and sometimes as bare as a concrete box. Then again, that does give one the freedom to design and decorate it as they please.Increased partnership with banks for home loans(Left to right) Sathapana Bank CEO, Mr. Fung Kai Jin, and WB Sport Village Co., Ltd CEO, Dr. Simon Vancliff signed an MOU to offer “Flexi Loan Lending” for WorldBridge Sport Village buyers. Photo from WorldBridge blog.Developers have been noticeably active in forming a partnership with banks to increase accessibility for local buyers. However, it must immediately be said that most banks in Cambodia will be stringent when it comes to lending to foreign buyers. However, banks part of an international brand may be more open to assisting. There are several international banks in Cambodia such as ABA (owned by National Bank of Canada), BRED Bank (from France), RHB Bank (from Malaysia), and Maybank (from Malaysia) are a few examples of established international banks in the Kingdom.Nevertheless, it might be an option worth exploring if it so happens that your home country bank has a holding in Cambodia.Foreign buyers are more valuable now than beforeForeign buyers largely fueled the activity of property developments in Cambodia, especially in Phnom Penh in the past 4-5 years. Foreign buyers entering Cambodia usually pay a significant downpayment (30% to 50%) with short payment terms - allowing developers to fill their books with immediate cash flow.On the other hand, while Cambodians are seeing an improvement in annual household income, most still require financial assistance from banks and would often prefer longer payment terms around 10 years. This new status quo has made foreign buyers even more valuable for developers who have been struggling for the past 2 years.Most quarantine measures liftedThe new travel rules were announced in mid-October 2021 after an outbreak-free Pchum Ben holiday season, followed by further easing in November 2021. Photo from Fresh News.In November 2021, Cambodian authorities rolled out new and streamlined rules for foreign travelers coming into the country in a bid to reopen the economy. The most highlighted of these new rules is that foreign investors traveling into Cambodia need only proof of vaccination and negative PCR-test, doing away with costly and time-consuming quarantine requirements. Complete list of new requirements can be found here:Cambodia's new travel rules for inbound foreign travelers“Cambodia reopening is a good move that will attract investors,” said Peter “The biggest thorn of their [investors] side has been the 2-week quarantine for the past 2 years.”Peter, who has been on the phone with foreign buyers throughout the pandemic, notes that buyers he’s talked to are looking forward to the day quarantines are lifted completely. “And now that measures are more relaxed, it’s only a matter of time before interest picks up significantly,” he said.Cambodia is one of the most vaccinated countries in Southeast Asia, making a leader in regional reopeningsAs of November 2021, Cambodia is one of the most vaccinated countries in SEA and has been ahead of its neighbours in reopening the economy through streamlined requirements for foreign travelers, reduction of quarantine periods, and businesses being allowed to operate as they used to (following healthcare guidelines).Throughout the pandemic, the Cambodian people have noticeably been eager to go out, taking every chance to enjoy a long holiday out of town or visit public places. This has grown more pronounced since November 2021 as most of the country is vaccinated and businesses are seeing a considerable pick up in foot traffic once again.Cambodians are more involved in the property market, adding further value to the sectorThe question of “Who is going to buy these properties?” has been a pressing question for Cambodia’s real estate market. Foreign investors and middle-to-upper class Cambodians were often the answer, but that has changed in a matter of 2 years - quite the speed when it comes to real estate.“The shift in terms of sales and marketing has made much of the market more involved in the property market,” observed Peter “This is a good sign for foreign buyers as their condo investment can more easily be sold for locals who want to buy one”.As mentioned above, developers forming partnerships with local banks have made it easier for Cambodian buyers to access financial assistance and make it more commonplace in a fast-growing market.“A product’s value proposition is helped by the demand. Now that condos are more accessible to not just expats/foreigners but more so to Cambodians, the more stable and less prone to risk the market is going to be”. Peter said.Looking for property investments in Cambodia? Let us help!Article by:

Phnom Penh’s construction and real estate market has seen more than its share of disruption in the past 2 years. Despite difficulties, several iconic and popular projects announced prior to the pandemic are soon coming online.Realestate.com.kh, Cambodia’s largest real estate classifieds portal, collected a few of the most popularly searched new developments completed in 2022. These projects appeal to a wide range of buyers being notable for their price, location, design, and return-on-investment:The PARC 21 ResidenceThe PARC 21 Residence is a 21-storey development in Boeung Trabek, Chamkarmon that made waves across the real estate market when it restarted its marketing efforts in June 2022. Since then, the Singapore-inspired project closed almost a million dollars worth of units. PARC 21 recently topped out and, as a result, continues to receive inquiries from both local and international buyers looking for a well-priced and centrally located condominium.PARC 21 Residence Property ListingAgile Sky ResidencesAgile Sky Residence is a 44-storey residential project in Beoung Keng Kang 3 (BKK3) area, a prime location that comprises high-rise developments, low-rise residential dwellings, and commercial buildings occupied by local and international brands. This project received attention from buyers across the region due to its advantageous location along Preah Monivong Boulevard, a prime commercial boulevard that runs from the north and south of the city.Agile Sky Residence Property ListingPrince Huan Yu CenterThe Prince Huan Yu Center is a two-tower complex of 39 and 26 storeys. Located in Tonle Bassac, Chamkarmon, this new development is located in a highly developed area of the city complete with high-rise commercial/residential buildings, wide roads, shopping spots like AEON Mall 1, and a multitude of embassies. Prince Huan Yu offers premium residential choices of condominiums (handing over in 2022) and lofts (handing over in 2023).Prince Huan Yu Center Property ListingYuetai Phnom Penh HarborYuetai Phnom Penh Harbour is situated in a busy area of downtown Phnom Penh. It is expected to become a riverfront landmark development overlooking the Tonle Sap River, just a few blocks away from the business district and other popular tourist and commercial areas in the growing city. Yuetai Phnom Penh Harbor is scheduled to open in 2022.Yuetai Phnom Penh Harbour Property ListingPhnom Penh’s real estate sector is gradually gaining its footing in the pandemic economy, especially now that the economy recently reopened. And while overall sales activity is not yet on par prior to the pandemic, there has been some returning activity from foreign property investors familiar with Phnom Penh’s future value.Looking for more new projects in Cambodia? Let us help!