It’s no secret that foreigners can own high rise properties via strata title in Cambodia. But what is not widely known is that foreigners have additional options to legally own land in the Kingdom.If you're interested in other topics related to investment in Cambodia be sure to click over to our Investment Guide 2019.Here is a guide from Realestate.com.kh to show you the different options regarding how to invest in Land in Cambodia, for foreign investors:How to invest Land in Cambodia by Forming a company with a Cambodian CitizenWhat do you need to set up an Limited Liability Company?How to Invest in Land in Cambodia through a Long-term leaseWhat are the advantages and disadvantages of a long term lease for a foreigner in Cambodia?How to Invest in Land in Cambodia by Registering Real Property With a Cambodian Citizen - a.k.a Buying via a NomineeWhat are these documents for in the nominee structure?How to Invest in Land through Concessions in CambodiaHow do I apply for an Economic Land Concession in Cambodia?How to Invest in Land in Cambodia by Cambodian MarriageWhat happens when you get a divorce?What are the requirements to get married in Cambodia?How to Invest in Land in Cambodia by Cambodian CitizenshipLet's get started...How to invest Land in Cambodia by Forming a company with a Cambodian Citizen:Foreigners can set up various businesses in Cambodia. This is easily done.But they would have to form a limited liability company or a private limited company with a Cambodian citizen/s first if they want to own land in the country under that company. This is because foreigners aren’t allowed to buy land directly, as according to the Cambodian constitution.However, when a Cambodian citizen owns 51 percent of the company, that company is then entitled to purchase land under its name and can do anything with that land within the legal bounds of the law in Cambodia.  Chapter VI, Article 16 of the Law on the Investment of the Kingdom of Cambodia states that “ownership of land for the purpose of carrying on promoted investment activities shall be vested only in natural persons holding Cambodian citizenship or in legal entities in which more than 51% of the equity capital are directly owned by natural persons or legal entities holding Cambodian citizenship.”But this can be a cause for concern for investors as a minority stake in the company appears to remove the controls from the foreign shareholders over those business assets.However, a careful allocation of the shares and an appropriate draft of the rights that are attached to the share certificates can guarantee full control for the foreigner involved. A foreigner can also opt for an additional mortgage, security, and Power of Attorney documents in order to ensure its full control over the land or other real estate vested in the company.What do you need to set up an Limited Liability Company?You need to make sure you meet the requirements first before you set up a limited liability company. This includes the need for two shareholders, a director, and a minimum capital of $1,000. The LLC will also need a corporate bank account, a real office space through a registered agent, and a local Khmer company name. These can usually be arranged with the legal assistance of independent lawyers. An LLC takes around 8 weeks to set up and a separate 4 weeks is needed to set up the bank account. The LLC will then need to file annual tax returns and register for VAT after incorporation.Foreigners are expected to pay 100 percent of real property purchase costs and construction costs. If a decision is made to sell the real property, 100 percent of what it was sold for goes to the foreigner. It is advised to detail this on the company and sales documentation.You have to check the uniqueness of your company’s name before setting it up. This will cost $10 through the Ministry of Commerce. You are then required to deposit $494 through an authorized bank under that name if it is unique. Do not lose your deposit slip. The second step requires you to get a company registration form for $5 to $15. This can be obtained through the Cambodian Investment Board. You then have to shell out another $15 to get an official company seal.The next thing you have to do is to create and publish a company abstract through a recognized newspaper. You also have to wait 30 days after your company’s established before enrolling it into the commercial register through the Ministry of Commerce. After setting up the company, you then need to get your documents stamped. This will set you back $26. You also need to fill out forms and documentations to get your official tax registration. That is the last step to get your company officially set up and recognized.There are additional documents you can obtain to ensure security of ownership over that company. A security document will set you back $1,000. The Power of Attorney document will cost around $500. Mortgage will be at around $1,000. A registered title deed is priced at $500. Company documents and license will cost a total of $1,200. You may need at least $5,000 for the total process.How to Invest in Land in Cambodia through a Long-term lease:Purchasing land isn’t exactly the same as leasing it. But it’s the next best thing. It’s easier and less expensive than setting up a company to buy land.This method technically allows foreigners to “purchase” real property. But foreigners would need to allow the registered title deed to remain under a Cambodian citizen’s name. Both parties formally enter a long-term rental agreement. Land is able to be leased to the foreign national for periods up to 50 years - however cases of 75 and 99 years are not unheard of.What are the advantages and disadvantages of a long term lease for a foreigner in Cambodia?The only downside to this method is that you still do not hold full ownership over the land - and this means that some uncertainty remains for the investor over the security of their asset. You will need to first get the thumbprint and signature of the Cambodian national before you can sell the property.But proper drafting of property holding and lease arrangements terms help make this a secure means of gaining control over real property. Foreigners can also hold on to the original copy of the title deed as an additional safety measure because the Cambodian national cannot sell the property without it.A long-term lease provides lessors the rights to develop the land they’re leasing. They will be able to obtain construction permission under their own names. This also entails that the foreigners involved will also be able to sell the property and keep all of the of the sales revenue. The attached financial obligations to this method for the foreigners will be for the legal assistance of a lawyer and any amount agreed upon for the price of the property and the lease agreement. These prices may vary.How to Invest in Land in Cambodia by Registering Real Property With a Cambodian Citizen - a.k.a Buying via a Nominee:This is otherwise known as a nominee structure. This structure lets foreign investors enter a trust agreement with the land holder. The land is put up for mortgage after that. It is then leased out to the foreign investor involved.  You need to secure 4 documents first. These are the mortgage agreement, the lease agreement, the loan agreement, and the security agreement.What are these documents for in the nominee structure?The mortgage agreement’s registered at the Sangkat. It transforms the buyer into a bank. This prevents further activity by the Cambodian national without the permission of the foreign national. Further activities would require approval from the foreign national.The loan agreement is a paper loan that’s made between the nominee and the foreign national. It accrues interest over time. The lease agreement gives the foreigner the right to legally reside in the property. The Security agreement lays out the necessary limitations and obligations of each party with regards to the property.Foreigners are allowed to own any type of property through this structure. But this method is not advisable as it is in violation of the constitutional prohibition on the direct ownership of property by foreigners. It is a sort of loophole that the government is trying to regulate. Costs for the whole process also varies depending on the agreement of both parties involved and the agreement of the buyer and their lawyer.How to Invest in Land through Concessions in Cambodia:According to Article 48 of the Land Law, “A land concession is a legal right established by a legal document issued under the discretion of the competent authority, given to any natural person or legal entity or group of persons to occupy a land and to exercise thereon the rights set forth by this law.”There are three types of land concessions available in Cambodia. These are the Use, Development or Exploitation Concession, the Economic Concession, and the Social Concession.Social Concession allow beneficiaries to construct residential projects and cultivate State land. Economic Concession allow beneficiaries to clear land for purposes of industrial or agricultural exploitation.Use, Development or Exploitation Concession are not regulated under the 2001 Land Law – specifically, Article 49 and 50. But this type of concession includes port concessions, mining concessions, industrial development concessions, airport concessions, and fishing concessions.Article 52 and 53 further states that “A land concession may only create rights for the term fixed by the concession contract in accordance with the provisions of this law. A land concession cannot establish ownership rights on the land provided for concession except for concessions responding to social purposes.”It continues, “A land concession can never result from a de facto occupation of the land. The land concession must be based on a specific legal document, issued prior to the occupation of the land by the competent authority, such as the State or a public territorial collectives or a public institution that is the owner of the land on which the concession is being granted. The concession must be registered with the Ministry of Land Management, Urban Planning and Construction.Land concessions cannot have more than 10,000 hectares and is limited to 50 years but may be revoked by a government decision if there is a problem with compliance.The most common concession type foreigners go for is the Economic Land concession.How do I apply for an Economic Land Concession in Cambodia?An investor cannot apply for economic land concession from abroad. They are required to have a registered company in the country, a valid tax identification number, and an active local bank account. Once this is in place and a piece of land is located, the investors must apply through the Ministry of Agriculture. They will require documentations to prove financial qualification and additional documentation detailing information of the investor.The Ministry of Agriculture will then review the land details listed on their database. They will decide whether it can be made available for a concession based on the review. The official bureaucratic machinery will come into play if the land is available.Representatives from the Ministry of Agriculture, Ministry of Environment, the Council for Development of Cambodia, the provincial government, and the Ministry of Commerce will then form a commission to review the feasibility of the application. So, investors will also need to include a business plan and supporting documents during the application process.The Ministry of Environment is assigned to create an ‘Environmental Impact Assessment” which studies the different factors pertaining to the land. These include elevation, settlements, waterways, and soil. This process takes 3 months. The assessment will include the land designation, religious sites, community property, and settlements mapping. The local government is in charge of the socio-economic factors and effects.The Ministry of Agriculture then forwards the application to the Office of the Prime minister after the application is approved. The PM will then sign and authorize the Ministry of Agriculture to go into a concession deal with the investor. The investor is then tasked to create a master plan or a five-year business plan.The public land of state will then be transferred to a private land of state once the master plan is approved.The CDC will provide special tax status for the investor’s company such as exemptions and reductions. The company is then going to be noted in the investment register through the CDC.The approximate duration to complete the process will be 6 to 9 months.How to Invest in Land in Cambodia by Cambodian Marriage:Foreigners married to a Cambodian citizen are allowed to register real property using the name of their spouse on the title deed. In case a citizenship has been granted to the foreigner, the Cambodian Law states that the land can be registered under the names of both husband and wife. This follows that there should be a mutual agreement before the land is sold.What happens when you get a divorce?Should there some a time when a divorce or separation is needed, the land and property division is dependent upon the conditions of any court ruling that refers to the divorce. Interracial marriages require the participation of the embassy of the foreigner’s home country and different local government agencies such as the Legal and Consular Department of the Ministry of Foreign Affairs and International Cooperation, Ministry of Interior, province officials.What are the requirements to get married in Cambodia?For the wedding itself, you would need several documents such as a certified birth certificate copy, a valid passports and its photocopy, a visa and its photocopy, an affidavit of single status, an affidavit of marriage, criminal records, certificate of profession, divorce or death certificates in case of a previous divorce or death of a previous spouse, a medical certificate from Calmette Hospital that’s located in Phnom Penh, and a marriage application form.Other legal requirements for marriages include a civil or religious ceremony, the woman is considered to be at least 18 years old and a man at least 20. There should be two witnesses for the wedding. A wedding must be registered at the Civil Registry Office in order to be recognized.How to Invest in Land in Cambodia by Cambodian Citizenship:One way for well-off individuals to buy land is by getting an honorary Cambodian citizenship. This can be obtained in two ways. Either by donating at least $312,500 for the Cambodian people through the Cambodian Government or by making a significant impact to the country.Being granted an honorary citizenship allows foreigners to purchase obtain 100 percent of the rights to real properties. But it is important to note that the foreigner’s original nationality is not affected in any way.Individuals may also gain residential status in the country by living here for 7 years.Cambodia is breeding grounds for successful developments where land is a main proponent. As more people gain interest in the country’s real estate climate, it is entirely possible to see a number of foreigners included in the same crowd of people who make a profit from land that they own.Learn more about investing in Cambodia, with Realestate.com.kh’s in-depth investor guides!

With Phnom Penh exhibiting signs of saturation in the high end real estate development market, developers and investors are looking south to Cambodia’s coastal city of Sihanoukville.Realestate.com.kh caught up with Ross Wheble, Country Manager for Knight Frank Cambodia, to get the lowdown on what factors are stimulating the current growth.How is the infrastructural development of Sihanoukville feeding into real estate and property development?One of the main drivers of real estate development and investment anywhere in the world is infrastructure. A few recent infrastructural developments are spurring investor confidence in Southern Cambodia.The Sihanoukville airport is set to become Cambodia’s largest airport, according to various sources. This means more and more regional airlines flying direct to Sihanoukville from international destinations. Grand Union Group, the developer of Dara Sakor at Koh Kong, has also recently received permission to build another airport. While this is not in Sihanoukville, it still represents another access point not far from the city. Until quite recently, airlines were reluctant to offer direct flights to Sihanoukville until a minimum number of hotel rooms were available. Meanwhile developers wouldn’t construct and hoteliers wouldn’t operate in Sihanoukville while the airlines weren't delivering passengers. This standoff has stalled hotel and airline investment in the last few years. Yet now, with the influx of new routes direct to Sihanoukville, luxury hotel brands are trickling in. For instance, Alila, co-founded by the former financial advisor of Aman Resorts, an upscale hospitality group operating in over 20 countries, will launch a 5 star luxury venue on an island off of Sihanoukville. Six Senses Krabey Island is also scheduled to premier in 2017, a large Thai operator of 5 star luxury hotel venues. This trend seems set to continue.Meanwhile, the Chinese-operated Sihanoukville Special Economic Zone (SSEZ), already the biggest SEZ in Cambodia, has announced its intentions to double its capacity and open 300 factories by 2020. New flights from mainland China to Sihanoukville have also been launched recently, specifically to service the SEZ. Continued expansions of the deep sea port are also reducing shipping costs for Sihanoukville based industrialists. Another SEZ in Sihanouk, Steung Hav SEZ, also has a license to build a second deep sea port in coming years.A new highway from Phnom Penh to Sihanoukville has also been slated, and is supposedly due for completion by a Chinese contractor by 2020. This not only aids travelers, but is a key improvement for manufacturing logistics between the factories of Phnom Penh and the Sihanoukville deep sea port.How does the Government’s Coastal Development Plan fit into this?Alongside this private investment, the Government is drafting a coastal development master plan, with certain elements now actively being enforced in regards to protection and maintenance of ecological assets such as beach fronts and mangroves. While these changes are hurting some businesses now, especially on Ochheuteal beach, in the longer term these measures seem to be on the right track to preserving the region's tourism assets. A coastal road connecting Sihanoukville to Kampot and Kep has also been announced.What major development projects are already underway?There have been a handful of major mixed use developments launched in Sihanoukville thus far, and seemingly this is the start of a Sihanoukville condo market set to continue. To name those that we are aware of: D’Seaview; Sunshine Bay; Blue Bay Condominium; Royal Bayview Condominium; The Scarlett (a time share condotel); and Blue Sky Tower.Meanwhile, since beginning of 2016, hundreds of millions of USD of investment has landed in the Sihanoukville, predominantly geared towards integrated resorts, casinos and the gaming market. In turn, a large number of gambling licenses have been granted. This thirst for casinos is being driven primarily by Chinese investment.Meanwhile, at Ream, a lesser known part of Sihanouk province, a huge economic land concession of around 3,300 hectares is being developed by the local owner in conjunction with foreign investors. So far around 15 agreements with investors for parcels of land have been signed, with the long term vision of building an integrated hospitalities zone, including golf courses, luxury hospitality, leisure, gaming and eco tourism ventures. A jetty/port that could support cruise ships has also been planned here, able to receive cruise ships from destinations such as China and Hong Kong.What does this new focus on Sihanouk Province say about the state of the Phnom Penh market?When looking at the overall number of condominiums compared to the size of the population, there is no oversupply. However, there is an oversupply in the high-end segment of the market and we are now seeing a shift towards the launch of more affordable condominium projects in Phnom Penh targeting the domestic market. Factoring in the buying power and preferences of the local market, the vast majority of rental demand for these high-end condominiums will be from the expatriate community residing in Cambodia; hence the likelihood of downward pressure on proposed rental returns once projects are completed over the coming years. Sihanoukville represents a different proposition, there are different fundamentals at play: tourism is strong pull for foreigners and locals, but simultaneously there is a strong economic focus in the city, with many international companies currently setting up here. This population of comparatively wealthy foreigners, in addition to a significant increase in tourist arrivals which is set to continue for the foreseeable future, suggests that there is an untapped rental market in Sihanoukville which has caught the attention of developers and investors alike.  Why not Siem Reap?In comparison to Siem Reap, Sihanoukville offers better long term potential. Yes, Siem Reap has tourism and will continue to - but Sihanoukville is simultaneously an economic hub which will underpin demand for residential accommodation over the long term as the population continues to grow. Furthermore, whilst Siem Reap attracts visitors due to the world heritage site of Angkor Wat, once international tourists have seen this wonder, they are unlikely to return. Coastal resort destinations, if developed well, encourage repeat visitation with tourists returning year after year. Another factor to keep in mind, although not economically viable at present, is the oil and gas reserves offshore in the region which will drive the long term growth of Sihanoukville once extraction begins.By James Whitehead, director of content @ Realestate.com.khThis 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. Check out the best Sihanoukville property listings on Realestate.com.kh

Home and business security is important for all property owners in Cambodia. Crime prevention requires attention from the right providers in order to ensure that your property is secured. However, it is also important to look after yourself.Ms. Sim Kalyan, general manager of Global Security Solutions (GSS), recently talked to Realestate.com.kh about how to stay safe when living in Cambodia. What qualifications should security companies have?Kalyan said that the history of the security company's management should be reviewed, especially the Managing Director’s. Check for experience and if they have a clear policy for the staff, such as if their salaries regularly paid or if the security guard’s salary is good enough. This is crucial because you must have a guard that is loyal to their company above all else. Try to also look for information on whether the services are good enough from past customer.Also check whether the security company’s registered and licensed in the ministry. There are more than 200 security companies in the country and some of them don’t have licenses.What safety precautions should we take in Cambodia?There’s always a risk of pickpockets or thieves. Kalyan advised not wear a lot of jewelry when going outside, using a small bag and putting it inside shirts in order to avoid pickpockets.In terms of robbery protection, bodyguards can be an option for those who can afford them. Alternatively, walking with two or more people lowers the risk of robbery. But we should also be careful in crowded places. There can be a possible kidnapping because of neglect. Knowing where to sit or where to look around also helps.In case thieves are following you, it’s recommend not to go home. It’s better to go to crowded areas or places like hospitals or police stations. The daily commute should include scouting areas in case of emergency.Kalyan also mentioned that it’s better not to go home when you’re out past midnight night. If you really need to go home, inform your family. Do not set up a password on your phone so that if you are in an accident, the first on scene can still contact your close friends or family.  Should I use insurance even when I already have security systems?A security company will guarantee limited payment in case something happens. Choosing insurance is a good safety net for any damages that could occur.Kalyan said that those who have plenty of high-valued objects should use insurance services. Also, doing a consultation with an expert insurance firm or consultant is advisable before you decide to purchase a home or business. When using insurance, You only need to pay a fixed monthly amount  to get compensation for what has been lost. Insurance service is the best choice for property owners who want to eliminate risks on their property asset.Other factors to consider:Kalyan added that if you know you’re being watched all time, you shouldn’t leave the workplace with a consistent schedule. Leave early sometimes and sometimes late. We should not drive only one route. By doing this, the thief will not know exactly what time you leave and which  route you take.In addition, there are three strategies: run, fight, and hide. These three strategies can enable us to escape from danger. But we also have to be responsible to know when to use each method.Learn more about home security in Cambodia!

The finest developers and projects in 8 countries collected the Best of the Best honours in real estate. And Realestate.com.kh was extremely proud to be an official media sponsor for the event, alongside the official broadcaster CNN! Malaysia’s Sime Darby Property won the coveted Best Developer (South East Asia) titleThailand collected the most number of regional titles, followed by Philippines, Indonesia, Vietnam and SingaporeAround 400 VIPs and senior industry figures attended the exclusive, black-tie gala dinner  SINGAPORE – 24 November 2016Southeast Asia’s best developers and achievers brought honours and prestige to their respective countries as they competed for the regional titles at the 6th annual South East Asia Property Awards 2016 grand finale event of the prestigious Asia Property Awards series, presented by Hansgrohe and organised by PropertyGuru, Asia’s leading online property group.According to the judges, the Best Developer (South East Asia) winner is an all-rounder with a long-term commitment in the Malaysian real estate industry. “Inheriting its legacy of excellence in plantation, one of the Sime Darby Group’s core businesses, Sime Darby Property is a prominent developer with a 40-year track record of developing sustainable communities and with expertise in property development, property investment and asset management.“Given its significance and constant reinvention, Sime Darby Property is certainly an integral part of developing Malaysia’s history, and now Asia Property Awards history as the 2016 Best Developer (South East Asia).”Accepting the region’s highest honour in real estate, Sime Darby Property’s managing director Dato’ Ir. Jauhari Hamidi commented: “The recognition of Sime Darby Property as the Best Developer not only in Malaysia, but in South East Asia by such esteemed industry experts is further testament of our commitment as a trusted developer. We are honoured to receive this award and our heartfelt appreciation goes to the organisers.”Indonesia, which led the grand final nominations tally with 15 nods, ended up with two regional design awards for Sinar Mas Land and Intiland Development, the Best Developer (Indonesia) winners in 2015 and 2016, respectively.MQDC Magnolia Quality Development Corporation, the Best Developer (Thailand) 2016, led the country’s regional winners, with one design award going to thecompany’s multi-billion riverfront project – The Residences at Mandarin Oriental, Bangkok. PACE Development’s acclaimed MahaSamutr country club and villas project in Hua Hin also took home a South East Asia design award, while Siam Piwat Co Ltd’s Siam Discovery was voted the region’s Best Commercial Development.Two regional winners emerged from the Philippines, including a Special Recognition in Sustainable Design (South East Asia) for renowned green developer ArthaLand for its Bonifacio Global City-based ArthaLand Century Pacific Tower development.Continuing its winning streak, Vietnam’s Deutsches Haus Ho Chi Minh City by Deutsches Haus Ho Chi Minh Stadt Ltd followed up their triple victory at the Vietnam Property Awards with the Best Green Development (South East Asia) title.Singapore’s Chiu Teng Group received another accolade as it was declared the regional winner in the new category for Best Boutique Developer (South East Asia). Singapore collected a total of two regional gongs.Attended by 400 VIPs and senior industry figures from Phnom Penh to Jakarta, the South East Asia Property Awards celebrated the successes of all the country winners following more than a year’s journey that began with the launch of the inaugural Cambodia Property Awards in late 2015, when the 2016 South East AsiaMalaysia’s Sime Darby Property collected its first regional Best Developer (South East Asia) gong, besting other national winners from Cambodia, the Philippines, Myanmar, Thailand, Indonesia and Singapore.Property Awards edition began at the entry stage, until the Indonesia Property Awards 2016 held in Jakarta in October.To date, nearly 190 awards have been presented to the region’s finest real estate developers and developments in 2016. The exclusive gala dinner ceremonies have welcomed about 3,000 guests that included top government officials, global experts, senior industry figures and even royalty, and members of the press.Presented by title sponsor Hansgrohe, the South East Asia Property Awards grand finale was part of the two-day event on 23-24 November at the prestigious Shangri-La Hotel Singapore. The entire event was preceded by the two-day Property Report Congress Singapore, the high-level conference series of Asia’s industry leading Property Report magazine that featured insights from around 30 speakers including Winners and Judges of the Asia Property Awards; the South East Asia Property Awards (Singapore) ceremony in the early evening on the 24th.The much-awaited grand finale event immediately followed the South East Asia Property Awards (Singapore) 2016 ceremony, which saw City Developments Ltd (CDL) crowned the Best Developer (Singapore).“2016 has been a momentous year for the Asia Property Awards. Since starting 11 years ago the Awards have always endeavoured to reward the best in local real estate and produce credible winners with a transparent entry and judging system. We have achieved this goal by developing the most detailed and comprehensive entry system of any property awards in the world,” says Terry Blackburn, founder and managing director of the Asia Property Awards.“Southeast Asia’s property sector has come a long way in the last decade and we are proud to have been a part of that growth,” he added. “It’s been our privilege to work with all the developers who participated in each country over the years and we can’t wait to know who will win at the grand finals this year.”The South East Asia Property Awards 2016 Gala Dinner was supported by co-sponsor Mitsubishi Electric, influential media partners including CNN International, the official broadcaster of the awards, and official property portal PropertyGuru.com.sg, Singapore’s No. 1 property website.For more information, contact info@asiapropertyawards.com or visit the official website: AsiaPropertyAwards.com/singapore/The complete list of Regional and Country Winners in the South East Asia Property Awards 2016:DEVELOPERBest Developer (South East Asia)Borey Peng Huoth Group – CambodiaMegaworld Corporation – PhilippinesShwe Taung Development Co., Ltd. – MyanmarSime Darby Property Berhad – Malaysia – WINNER, South East AsiaMQDC Magnolia Quality Development Corporation – ThailandPT Intiland Development Tbk – IndonesiaCity Developments Limited (CDL) – Singapore Best Boutique Developer (South East Asia)AppleOne Properties, Inc. – PhilippinesGreen Vision Construction Company Limited – MyanmarMitraland Group– MalaysiaSiamese Asset Co., Ltd. – ThailandAsiana Group – IndonesiaChiu Teng Group – Singapore – WINNER, South East Asia DEVELOPMENTBest Villa/Housing Development (South East Asia)Grand Star Platinum by Borey Peng Huoth Group – CambodiaThe Dàlat at 1200 Country Club & Private Estate by Acteam International Co Ltd, a company of the Centurion Global Group Singapore – VietnamMahaSamutr by PACE Development Corporation PLC – Thailand – WINNER, South East AsiaSerenia Hills by PT Intiland Development Tbk – IndonesiaGoodwood Grand by Feature (Balmoral) Pte Ltd (Tong Eng Group) – Singapore Best Condo Development (South East Asia)Acqua Private Residences by Century Properties Group, Inc. – Philippines\The Nassim by SonKim Land & HongKong Land – VietnamThe Gems Garden Condominiums by Capital Development Ltd – MyanmarSerai, Bukit Bandaraya, KL by BRDB Developments Sdn Bhd – MalaysiaThe Residences at Mandarin Oriental, Bangkok by MQDC Magnolia Quality Development Corporation – ThailandThe Mansion at Le Parc by PT Putragaya Wahana – IndonesiaGramercy Park by City Development Limited – Singapore – WINNER, South East Asia Best Commercial Development (South East Asia)SM Seaside City Mall Cebu by SM Prime Holdings, Inc. – PhilippinesDeutsches Haus Ho Chi Minh City by Deutsches Haus Ho Chi Minh Stadt Ltd – VietnamSedona Hotel Yangon (Inya Wing) by Keppel Land – MyanmarMedini 10 by Medini Iskandar Malaysia Sdn Bhd – MalaysiaSiam Discovery by Siam Piwat Co., Ltd. – Thailand – WINNER, South East AsiaSouth Quarter by PT Intiland Development Tbk – IndonesiaMarina One by M+S Pte Ltd – Singapore Best Green Development (South East Asia)ArthaLand Century Pacific Tower by ArthaLand – PhilippinesMenarco Tower by Menarco Development Corp. – PhilippinesDeutsches Haus Ho Chi Minh City by Deutsches Haus Ho Chi Minh Stadt Ltd – Vietnam – WINNER, South East AsiaSerai, Bukit Bandaraya, KL by BRDB Developments Sdn Bhd – MalaysiaWhizdom Avenue Ratchada – Ladprao by MQDC Magnolia Quality Development Corporation – ThailandThamrin Nine Tower 1 by PT Putragaya Wahana – IndonesiaM Social Singapore by Novel Developments Pte Ltd – Singapore Special Recognition in Sustainable Design (South East Asia)ArthaLand Century Pacific Tower by ArthaLand – Philippines – WINNER, South East Asia DESIGNBest Residential Architectural Design (South East Asia)Grand Star Platinum by Borey Peng Huoth Group – CambodiaEmbassy Central by Urbanland Central BKK Co., Ltd – CambodiaUptown Ritz by Megaworld Corporation – PhilippinesThe Dàlat at 1200 Country Club & Private Estate by Acteam International Co Ltd, a company of the Centurion Global Group Singapore – VietnamRosehill Residences by Rose Hill Soilbuild Co., Ltd – MyanmarThe Crystal by Genting Property – MalaysiaMahaSamutr by PACE Development Corporation PLC – Thailand – WINNER, South East AsiaCasa Domaine by PT Griyaceria Nusamekar – IndonesiaThe Mansion at Le Parc by PT Putragaya Wahana – IndonesiaSelong Selo Residences by The Selong Selo Group – Indonesia Best Residential Interior Design (South East Asia)Admiral Grandsuites by Anchor Land Holdings, Inc. – PhilippinesThe Dàlat at 1200 Country Club & Private Estate by Acteam International Co Ltd, a company of the Centurion Global Group Singapore – VietnamThe Gems Garden Condominiums by Capital Development Ltd – MyanmarPuteri Cove Residences by Pacific Star Development Pte Ltd – MalaysiaThe Residences at Mandarin Oriental, Bangkok by MQDC Magnolia Quality Development Corporation – Thailand – WINNER, South East AsiaThe Mansion at Le Parc by PT Putragaya Wahana – IndonesiaBellewoods by Qingjian Realty (Woodlands) Pte Ltd – Singapore Best Retail Architectural Design (South East Asia)SM Seaside City Mall Cebu by SM Prime Holdings, Inc. – PhilippinesJunction City Shopping Centre by City Square Commercial Co., Ltd (a member of Shwe Taung Development Co., Ltd) – MyanmartheCOMMONS by The Commons Co., Ltd – ThailandThe Breeze Lifestyle Center by Sinar Mas Land – Indonesia – WINNER, South East Asia Best Office Architectural Design (South East Asia)ArthaLand Century Pacific Tower by ArthaLand – PhilippinesJunction City Tower by City Square Office Co., Ltd (a member of Shwe Taung Development Co., Ltd) – MyanmarSouth Quarter by PT Intiland Development Tbk – Indonesia – WINNER, South East Asia Best Hotel Architectural Design (South East Asia)Conrad Manila by SM Prime Holdings, Inc. – Philippines – WINNER, South East AsiaSedona Hotel Yangon (Inya Wing) by Keppel Land – MyanmarAVANI Riverside Bangkok Hotel by Minor Hotels – ThailandSix Senses Resort Uluwatu Bali by PT Cahaya Warna Prima – IndonesiaM Social Singapore by Novel Developments Pte Ltd – Singapore Best Hotel Interior Design (South East Asia)Conrad Manila by SM Prime Holdings, Inc. – PhilippinesMelia Ho Tram at The Hamptons by Tanzanite International – VietnamSedona Hotel Yangon (Inya Wing) by Keppel Land – Myanmar – WINNER, South East AsiaAVANI Riverside Bangkok Hotel by Minor Hotels – ThailandSix Senses Resort Uluwatu Bali by PT Cahaya Warna Prima – IndonesiaM Social Singapore by Novel Developments Pte Ltd – Singapore Best Landscape Architectural Design (South East Asia)Melia Ho Tram at The Hamptons by Tanzanite International – Vietnam – WINNER, South East AsiaCeladon City by Gamuda Land – VietnamD'Lagoon by the Lake at Seri Austin by United Malayan Land Bhd (UMLand) – MalaysiaAVANI Riverside Bangkok Hotel by Minor Hotels – ThailandThe New Australian Embassy, Jakarta – IndonesiaSol Acres by MCL Land Limited – SingaporeFind more  real estate news on Realestate.com.kh

Enchan Sreyleak, the Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to open a bank account in Cambodia, on Realestate.com.khTV.What are the requirements to open a bank account in Cambodia? Cambodian citizens are required to present an ID card or a passport to the bank. Initial deposits vary between different banks. Some require an initial deposit of $100 to $500. Some banks require an initial deposit of $10 to $500. It’s a bit different for foreigners. Foreigners are required to present a passport, a visa that’s still valid for six months, or a job contract. These requirements also vary between banks. Initial deposit that are required by banks can range anywhere from $10 to $500.How about an ATM card?It’s good to use an ATM card, but you will be charged a monthly fee. You are also supposed to actively use your ATM card. If  you don’t use it within a given time period, you will be charged an extra fee if you want to use it again. Find out more about Banks in Cambodia on Realestate.com.kh

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to set up an internet connection in Cambodia, on Realestate.com.khTV.How to set up an Internet Connection in Cambodia: What are requirements to set up your internet?There are many options and many internet service providers in Cambodia. Most of these companies have the same requirements for foreigners or Khmer nationals. To set up your internet, you’re required to present an ID card or a passport with visa.How to set up an Internet Connection in Cambodia: What’s the process of setting up an an internet connection in Cambodia?Once you know which company you want to avail the services from, you can give them a call. You then need to go to the company and fill up a document. But it’s also possible to call them to go to your home as well to fill up the form if you’re unable to go there directly.How to set up an Internet Connection in Cambodia: What about the payment responsibilities?You’re required to make a deposit. Some companies will charge $35 up to $150. It takes around three days to a week in order to complete the process of setting up. Fees start with a minimum of $12 and a maximum of $150 a month. The faster the speed, the higher you need to spend.Check out Yong Yap Properties listings and services on Realestate.com.kh

The Cambodia Construction Industry Expo and Summit 2016 is less than a month away and Realestate.com.kh is proud to be official media partner for the event.  Industry professionals from all over the world will gather to plan, discuss, learn, and connect with each other. The event will be joined by construction, financial, architectural, and insurance firms who wish to showcase evolving technologies and services in the field.They said event is strongly supported by different institutions such as the Ministry of Land Management Urban Planning and Construction, Ministry of Labor and Vocational Training, Ministry of Commerce, Board of Engineers Cambodia, Board of Architects Cambodia, the ASEAN Constructors Federation, the International Federation of Asian & Western Pacific Constructors’ Association, and the China-ASEAN Building Material Industry Cooperation.Activities:The Cambodia Construction Industry Summit will feature reports and speeches from esteemed guests such as CCA Chairman Neak Oknha Pung Kheav Se; Chairman of the ASEAN Constructors Federation, Mr. Nattaphorn Bhromsuthi; President OF China-asean Business council, Mr. Xu Ningning, Representative of Neak Oknha Mong Reththy, Phd. Tan Monivann; Vice President of the International Federation of Asian & Western Pacific Constructors’ Association, Mr. Datuk Matthew Tee; Governor of the Phnom Penh Municipality, His Excellency Pa Socheatevong; and the Senior Minister of the ministry of Land Management Urban Planning and Construction, His Excellency Chea Sophara.The Summit will also accommodate reviews and suggestions from delegates that may be passed on to government to improve the industry.The Expo will feature presentations by representatives from companies like the Overseas Cambodian Investment Corporation, Tem Trading M & E Product Co. Ltd., UC Design Build Co. Ltd., KHI Brand, Meng Leng Eav Co. Ltd., Smart Dragons Group Co. Ltd., Camcona Trading (Cambodia) Co. Ltd., CCW Co. Ltd., and Omura Concrete Co. Ltd.And of course, Realestate.com.kh will have a prime booth at this years Cambodia Construction Industry Expo and Summit event! We will be giving away our latest magazine and showing off our latest Virtual Reality Tour products, perfect for making your property listings stand out from the rest!Who’s Invited to the Cambodia Construction Industry Expo and Summit?Cambodia Construction Industry Expo and Summit 2016 will include participants such as property developers, investors, contractors, designers, managers, purchasers, engineers, architects, distributors, and students. The organizers also encourage construction material, water, and plumbing suppliers to exhibit their products and services at the expo. Property Developers, real estate agents, brokers, banks, financial institutions, architects, interior designers, insurance companies, and engineers may also exhibit at the event.The event will take place at Diamond Island in Phnom Penh on December 1 to December 3.Find out more and sign up today!

The Ascott Limited has recently made waves again in the hospitality and real estate market with the introduction of its up and coming developments across different countries in Asia such as in Vietnam, Thailand, and the Philippines. It will also include the new Somerset Meridian Square Phnom Penh development in Cambodia.About the Owner-Operator:The Ascott Limited is considered to be one of the biggest international owner-operator of serviced residences worldwide. It is a subsidiary of CapitaLand which is a huge name in the international real estate market. The The Ascott Limited recently broke records as it hits its highest number of units.Lee Chee Koon – their chief executive officer – explains, “With these latest additions, Ascott has as at today over 52,000 units in our portfolio. We secured a record over 10,000 units in 2016, making this Ascott's highest increase in inventory count in a single year. Of these new units, 90 percent are located in gateway cities across the Asia Pacific and the Middle East.” Koon continues, “This year, Ascott has also opened 20 properties with more than 3,700 units, our fastest pace ever. As more of the newly signed properties come into operation, we can expect a further boost to our management fee income.”About The Project Somerset Meridian Square Phnom Penh:Somerset Meridian Square Phnom Penh will be the second project in Cambodia by The Ascott Limited after its Somerset Norodom Phnom Penh project.Somerset Meridian Square Phnom Penh is a prime residence serviced apartment. It will rise as part of an integrated retail and condominium development. It will be situated at the Central Business District’s first planned city project – the Phnom Penh City Center.It will be located near a Special Economic Zone where international corporations such as Toyota, Yamaha, and Coca-Cola hold their international manufacturing bases. An upcoming mall and the Cambodia Railway station will also be located minutes away from the project.Somerset Meridian Square Phnom Penh will have around 266 apartment units. These will range anywhere from studio to three-bedroom units. It will also have amenities like a swimming pool, a gym, a playroom for kids, residents' lounge, and a few meeting rooms.Ascott has already invested a lot into the capital city of Phnom Penh with the Somerset Norodom and Somerset Meridian Square Phnom Penh. Will we see another development from the company in Phnom Penh or will Ascott change the game by placing their developments in provinces that are becoming increasingly popular such as Sihanoukville and Siem Reap? That might not be a far off idea if the country sees continuous economic growth across all major cities.Read more of the the latest real estate news

Home and business security is highly important for residential and business owners in Cambodia. Ms. Sim Kaliyan, the general manager of Global Security Solutions (GSS), recently joined Realestate.com.kh to talk about professional home and business security. There are 2 types of solutions that deal with predictable risks and security precautions in Cambodia, according to her. One is suited to a smaller budget - the other is more comprehensive, but also more expensive.1.  Cheaper Home Security Solution for those on a Tight Budget:Ms. Kaliyan cited that normal middle class families or small businesses can choose this solution. She mentioned some major points to check out:Door, Fence, Key and Window:You must check whether the door of the house and other entry points are secure or not. There should at least be a fence to keep the inside of the property safe. You can use long broken bottles placed on the fence to strengthen it. And it's best to use double steel bars if you have a bit more money and want a better defense. This action will also prevent the fence from being stolen.Steel Bars:You also need to thoroughly inspect all aspects of the outer doors, the lock quality, and the bars of the windows and doors to ensure your home’s safety. Kalyan warns about a possible fire though. It is important to enforce the windows, but it is also important to ensure that you have a backup exit point to yourself in case a fire breaks out. You want to keep people out of your house - but you don’t want to trap you and your family inside in the case of an emergency.Use Motion Sensor Lights:You can also use motion sensor lights that activate when they detect movement outside of the house. You can place these at the entrance, the exits, and on the fence.Other Affordable Home Security Solutions:Kaliyan explains that there are other options to secure your house such as building secret passages. She also introduced ideas like placing a cardboard image of a person close to the windows, leaving your lights on while you’re not home, using a pillow to give the illusion of people sleeping, placing objects that will sound when drawers or desks are being moved, asking for the assistance of neighbors, and not letting people know when you bring home a valuable or expensive product.2. More-Expensive Home Security solutions:Kaliyan said that whatever solution is chosen, what matters most are the “external monitoring and internal monitoring”. But there are more convenient solutions for those with more resources.  These home security solutions include:Electronic Entrance and Fence:You can install electrical wires on your fence in addition to steel bars so that anyone who attempts to touch it will get shocked.Use Light Motion Sensor:You can use “light motion sensors” to protect your home round the clock. However, you need to do a perimeter check to find potential areas where burglars can pass through such as trees.Hiring Home Security Guards and  Installing a Security Camera:You can hire security guards from an agency for your home and build a central monitoring station in the compound. They can keep watch of the camera feed and inspect the house. In case someone jumped your fence and tried to enter, they can take action immediately.Intrusion alarm:Intrusion alarms are also called sirens. In case someone climbs or jumps your fence, the device will ring and alert people nearby.Magnetic Door Contact or Magnetic Door Break:You can install a “magnetic door contact” or “magnetic door break” on both doors and windows of your house. When someone attempts to break in using the door or window, it will signal your smartphone. Other similar alarms include motion sensors and photo beam protectors.Safe Control:For those who have a lot of money, it’s not necessary to use locks. Using “Safe Control” may be the best option because it requires you to either use a card or fingerprint to open.Beware of Dogs:Whether you choose the cheaper option or the more expensive one, you can always hang a sign that says “beware of dogs”. This will give you good results.Learn more about Home Security Solutions on Realestate.com.kh

Cambodia is well-regarded for providing affordable living standards and is complemented by its trademark Asian hospitality. It’s no surprise that the Kingdom of Cambodia has been a choice destination for expatriates for more than a decade. Phnom Penh was even previously named Southeast Asia’s new capital of cool by Lonely Planet and regularly features in global travel guides as a must-visit destination.However, the actual nitty-gritty of settling into the country is not always well-explained. To make your life choice easier, Realestate.com.kh provides you with all of the essentials of how banking works for expatriates in Cambodia!Because living cheaply isn’t merely about spending less, but managing your finances well.Banking and currency in the Kingdom The Cambodian Riel (KHR) is the official currency of Cambodia, however, the U.S. dollar is widely accepted throughout the country. Both currencies are used in everyday transactions; with the USD used for larger transactions and the KHR usually used for smaller purchases or as petty cash.According to the National Bank of Cambodia (NBC), while the KHR is growing in terms of circulation, 80% of transactions in the country are still done using the U.S. dollar.Since 2019, the National Bank of Cambodia has been pushing for the de-dollarisation which has been supported by local businesses with the prices often now showing in Riel. NBC also launched Bakong, a central bank digital currency (CBDC), and has encouraged more digital payments since the global pandemic started in 2020.As an expat, what you do need to know is that all banks support both currencies when it comes to banking in Cambodia.Opening a bank account in CambodiaOne of the best things about expat living in Cambodia is the ease of opening an account with almost any bank. All you need as a foreigner to open an account in Cambodia are the following:A passport valid for at least 6 months.A 1-Year extended visa.A nominal deposit amount (depending on the bank).Bring all of these documents to any major bank and their staff will set you up with your very own Cambodian bank account. During the COVID-19 pandemic, some banks have even started accepting online applications of accounts.However, there are instances of some bank branches/representatives asking for additional documentation as an exercise of due diligence. Better have these ready just in case:A passport-sized photo of yourself (white background).Business patent/license/registration (if you’re self-employed or own a business in Cambodia).A copy of your rental agreement (lease).Proof of employment in Cambodia.So, the question now is, which bank should you go to?TOP 5 Banks for Expats in CambodiaAs a general rule for expatriates, we recommend you pick the bank that is most accessible to you. You can never be too sure when an emergency will arise, hence, we highly recommend that you also adopt this rule-of-thumb.But let’s say you’re in a major city and there’s a wide range of banks well within your area. This is where our recommendation of the best banks for expats in Cambodia comes in, all of which have won numerous banking awards. The banks in the Kingdom have also recently rolled out much better banking apps, contactless cards and digital payment options.ABA BANKPhoto courtesy of Khmer Times, K/T Mai VireakABA also is known as the Advanced Bank of Asia was founded in 1996 is wholly owned by the Montreal-based National Bank of Canada (NBC). ABA Bank serves financial products geared towards individual persons, micro-financing needs, and SMEs.While ABA Bank is not the biggest bank in Cambodia in terms of assets, they do have the most sophisticated online banking app and payment network. Expat communities online generally recommend ABA Bank as the best bank because of the ease of transaction within Cambodia and with personal accounts from their home countries.ABA Bank has branches nationwide, assisted by over 250 self-banking kiosks, and over 450 ATMs available across the country and in most major urban hubs.ABA Bank even offers an offsite bank account opening where their staff will go to your residence, along with the relevant documents to be filled out, to open an account right in the comfort of your home.Minimum Deposit Amount: USD $50 (for non-residents) / USD 10 (for residents)Maintaining Balance Required: USD $10 (both residents and non-residents)SATHAPANA BANKSathapana Bank is a Japanese-owned commercial bank in Cambodia. Its parent company, MARUHAN Corporation of Japan, originally operated in the Kingdom as MARUHAN Japan Bank Plc. in May 2008 and focused on providing commercial banking products and services, aiming at expanding its operation nationwide.In 2012, the MARUHAN Corporation acquired SATHAPANA Limited which was originally established as a non-government organization (NGO) in 1995, and at the time of acquisition, had become a deposit-taking microfinance institution providing funds to the low-income people throughout the country.Today, Satphana Bank has over 170 branches and over 230 ATMs providing reliable banking services as the “People’s Bank” in Cambodia. Sathapana Bank aims to empower entrepreneurs and improve their customers' business and living standards through access to financial services in a sustainable manner.Minimum Deposit Amount: USD $10 for Savings AccountMaintaining Balance: USD $5 for Savings AccountJ-TRUST ROYAL BANK (formerly known as ANZ ROYAL BANK)J-Trust Royal Bank (formerly ANZ Bank) was established in Cambodia in 2005. The bank was initially a joint venture between Australia and New Zealand Banking Group Ltd., and The Royal Group of Cambodia. In 2019, the Japanese J-Trust Bank bought into the partnership and has taken over official operations since August of the same year.Despite ANZ Royal Bank’s limited presence with only over 40 branches nationwide, the bank still boasts an impeccable banking portfolio as acknowledged by the Global Finance Magazine with their 2015 Best Trade Finance Bank in Cambodia. In 2016, the International Finance Magazine awarded ANZ Royal its Best Foreign Retail Bank in Cambodia.J-Trust Royal Bank’s entry into the booming Cambodian banking sector is set to bring the trust associated with Japanese quality.Minimum Deposit Amount: USD $500Maintaining Balance: USD $100BRED BANKBRED Bank officially opened its services in Cambodia in 2017 and is one of the newest banks on this list. It is owned and operated by the BRED Banque Populaire, France’s 2nd biggest banking conglomerate. It is the only French - and European - bank in the Kingdom of Cambodia.BRED Bank Cambodia’s CEO, Guillaumme Perdon, said in an interview with the Khmer Times that the bank aims to break Top 5 or 10 banks in the Kingdom.BRED Bank has multiple branches across Phnom Penh and has branches in other major city centres, such as Siem Reap and Battambang.Minimum Deposit Amount: USD $100 for Silver AccountMaintaining Balance: USD $1 deducted per month as maintaining fee for Silver AccountMAYBANK CAMBODIAMaybank Cambodia first established its operations in the country in 1993. It has since supported multiple sectors of the economy such as retail banking, SMEs, commercial business and corporations. In April of 2012, this Maybank officially became Maybank Cambodia to symbolise the regional bank’s commitment to its stakeholders in the country.It is the choice financier of Malaysian and Singaporean businesses operating in Cambodia - particularly companies focused on infrastructure development and the service sector.Maybank currently has over 20 branches operating in major population centres across the country. The bank has also expanded its services to support SMEs through various loan programs.Minimum Deposit Amount: USD $100Maintaining Balance: USD $10This is just a brief overview of some of the biggest banks in the Kingdom of Cambodia. As to which bank should you choose is completely up to you. Given that bank promotions change over time, we highly encourage you to visit any accessible bank to you and find out which one will suit your needs the best.Now that you know more about expat banking in Cambodia, you might be interested to read our guide to retiring in Cambodia. LOOKING FOR SALE/RENT PROPERTIES? CLICK HEREArticle by:

Selling your home takes a bit of thought process and energy sometimes. And one of the questions that frequently pops up is whether or not you should stick with one real estate agent - or list your property through multiple agents. This is especially true when you’re looking to sell your property fast for whatever reason.Both have clear advantages and disadvantages that sellers may want to consider first 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. There’s a good reason for that. You get more exposure. These professionals can utilize different avenues such as the newspapers, real estate publications, and the internet to spread awareness for your property. More exposure means a gathered interest from a larger audience.This option also means more information about the property is released. Buyers can get to know your property better. Agents today are now also utilizing modern tools and techniques to target potential buyers better.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. There are self-professed private agents out there who will do anything to close a deal.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.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 – can save you a whole lot of time and effort. It focuses in on making sure that you get a good deal without demanding too much. This also offers the agent more flexibility to adjust their strategy based on your needs and on buyer 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. 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.Remember that you will also play a big role in the process no matter what option you choose. What system you think will work best for you and how much effort you’re willing to put into the process is entirely up to you.  Choose wisely.Find Cambodia’s best real estate agents on Realestate.com.kh!

Home and business security is of high importance for residential or business owners in Cambodia. Taking precaution for protection and crime prevention requires attention from the right providers in order to ensure that every property of yours is confidently secured.Ms. Sim Kalyan, the general manager of Global Security Solutions (GSS), joined Realestate.com.kh to talk about professtional home and business security. There are generally a few guidelines that deal with predictable risks and precautions for home security in Cambodia.What are the risks concerning home security in Cambodia, and business security?Kalyan says that most of the problems that home and business owners experience are theft, burglary, armed robbery, kidnapping, and fires. She explains that the armed robbers focus on the entrance of the house or areas near the house, while kidnapping could happen at home or elsewhere in order to get a ransom. These can cause injures or can even be deadly.How do you protect your home or business?Kalyan cited that the best solution for these risks is to find a professional private security company to help monitor the residential and business areas. These companies will then provide methods to protect your property. Another solution is to contact the police because they are trained specifically in the field of security and protection.Kalyan also provided two main key points which you can personally check:External Monitoring:Kalyan explained that external monitoring refers to the external aspects of housing such as location – whether it’s an unsafe area, there are reports of robberies, or there are pickpocket boys around. We can also inspect whether or not there are lights on the road. Another factor to check is whether or not the fence is strong enough or high enough.In terms of the home itself, she said that we must inspect the strength of the doors and windows on all levels. She also cautions to be careful with the veranda area.Internal Monitoring:Kalyan said internal monitoring means paying attention to people in the home such as helpers and drivers. This means a clear and thorough review of their backgrounds. We need to be clear who they are or what they are about before allowing them to live in the house. You should even be aware of people like postmen or cable fixers.Another thing Kalyan mentioned is that you need to have is a list of emergency contact numbers. It should be posted on the wall or somewhere where it’s convenient to find.Read more about home security in Cambodia tips on Realestate.com.kh!Click here to download your free copy!

Being away from home in Cambodia can be a frustrating feeling for some people. And worthwhile accommodations have been helping them feel a little less unsettled. Some people like extravagant rooms, some people want a variety of amenities, some people want a view of the city, and some just want a view of their surroundings.But Angelina Jolie likes to stay in places where she can immerse herself in the culture. That’s why choosing Phum Baitang by Zannier Hotels was an easy choice for her home in Cambodia.How It All Started:It was in one of Jolie’s numerous flights that she came across Phum Baitang on a magazine. It was perfect timing because she was then about to work on the Netflix movie “First They Killed My Father” at Battambang. She decided to make an arrangement for her and her family who stayed there for three to four months. She and her kids fell in love with the luxury resort instantly.Arnaud Zannier, founder of Zannier Hotels, recalled that at one point, Shiloh – one of Jolie’s children – set up a tent in the garden. Meanwhile, Jolie said that Phum Baitang is “where the best of Cambodia is shared with those who are looking to enjoy peace, tranquility and the uniqueness of the country.”Zannier says Jolie “loves the fact that the resort is very authentic, very simple, very emotional. We have tried to transport the real Cambodia within the walls of the hotel.”What the Hotel’s About:Phum Baitang Hotel is located in Siem Reap and is sort of a green village. There are a lot of authentic factors about this 5-star resort that make it stand out. But one of the rare things that Angelina Jolie fell in love with is the paddy field. It comes complete with farmers too.  More than that, the resort is an eight-acre property filled with greenery and natural elements such as stones and wood. It has 45 villas in total with authentic Cambodian architecture and designs. 25 of these villas have private terraces and the other twenty have private plunge pools.Phum Baitang also offers relaxation treatments and facilities through the Spa Temple which has 7 treatment rooms, a steam room, a sauna, and a relaxation area. They also have a Yoga pavilion, a 50-meter infinity pool, and a fitness room.Phum Baitang also boasts local and international cuisine through its two restaurants in the vicinity. You can also grab a few drinks at the cigar and cocktail lounge that’s situated near the paddy fields.So whether you’re looking for an authentic Cambodian experience or just a relaxing stay in the area that feels like a home away from home in Cambodia, Phum Baitang by Zannier Hotels might give you a mix of a little bit of both. And you might just bump into Angelina Jolie too…Looking for hotel properties? Check out commercial property for sale and rent across Cambodia.Click here to download your free copy!

Manny Pacquiao has not only worn gloves and thrown punches. He has also put on several more masks, outside of being a boxer. We’ve also seen him as a father, as a husband, as a son, and as a senator of the Republic of the Philippines. But even with a bunch of titles attached to his name, the boxer still has plenty more facets about him that not a lot of people know about. Above all of these things, he is also a generous philanthropist recently building new homes for the poor.Growing up as Emmanual:Before he got his big break in boxing, Emmanuel "Manny" Dapidran Pacquiao was a pretty normal kid. In high school, he had to stop going to school because of poverty. By age 15, Pacquiao moved away from his family. It didn’t come easy. He had to brave the dangerous streets of Manila and scavenge for shelter and food. Eventually, he discovered a passion for boxing and slowly worked his way from being an amateur boxer to being a legend. Ever since he went under the spotlight, his life was never the same. He has gone on to fight in the big arena where he faced boxing giants like Oscar De La Hoya, Juan Manuel Marquez, Timothy Bradley, and Floyd Mayweather.A Thousand Reasons to Thank Manny Pacquiao:Manny “Pacman” Pacquiao – as he is now more popularly known as – has identified with the poverty Sarangani is facing. This area is considered to be among the ten poorest provinces in the Philippines. This prompted Pacquiao to donate 1,000 new homes for his constituents in the province after his match with Mayweather.  Pacquiao says on his Facebook Page, “I'm so happy giving these new homes free to my constituents in Sarangani Province from my own pocket more than thousand families are the beneficiaries. and i'm still building more because I always believe what the bible says; 1 Peter 4:8-10 NIV.”Many have been less forgiving of “The People’s Champ” and said that his acts of kindness and generosity are merely political moves to gain the trust of people. Nevertheless, 1,000 families will benefit and will be given homes to live on because of this new homes development.Close Fists and an Open Wallet:This isn’t the first time that Pacquiao donated something off of his earnings. In 2015, a Philstar article reports that the boxing star signs over 50 checks a day for hospital bills for his foundation. The article also mentions that he regularly sponsors scholarship programs, medical missions, and that his house was always open for people seeking help and financial assistance.Manny Pacquiao holds a record of 58 wins, 6 losses, and 2 draws. He’s the only boxer in the world to hold 8 division titles. He has served both as a congressman and as a senator for the Philippines. But even with all these accomplishments, everyone is still excited to see what the boxing legend has in store.Learn about affordable housing initiatives in CambodiaClick here to download your free copy!

Kampong Cham is known for different things. It has the Ko Paen Bamboo Bridge, the Wat Nokor, the Koh Paen Island, Wat Hanchey, the Phnom Srey and Phnom Pros, the French Tower, and the Wat Maha Leap. But the province is slowly drawing in more than just tourists lately. Developers have also become fascinated with it and the opportunity to build Kampong Cham Borey developments.The Breakdown:Kampong Cham is a Cambodian province located near the Mekong River. It’s situated in between the provinces of Kampong Chhnang, Kampong Thom, Kratié, Tbong Khmum, Prey Veng, and Kandal.Kampong Cham continued eastward towards the Vietnam international border. It was also known as the 11th biggest province in Cambodia. It became the second most populated Cambodian province. Kampong Cham was then separated into two individual provinces on December 31, 2013 through the fifth mandate. The portion located on the left of the Mekong River remained to be Kampong Cham and the eastern portion became the Tbong Khmum province.The Possibilities:Kampong Cham thrived even after its division in 2013 and is now seeing great interest from developers as a potential economic province.  According to a Phnom Penh Post report, Kuy Vat, CEO of Century 21 Cambodia, says that “Kampong Cham is an unpolished town. It’s a good province to build a special economic zone because it is only one hour away from Phnom Penh.”Hong Piv, Director of Borey New World, also saw this potential and decided to build a Kampong Cham Borey. Doing the development in this area has given the developer newer possibilities, according to Seav Sophal – the exclusive sales agent of the property.He explains that “in Phnom Penh, we receive deposits, but in Kampong Cham town, we sell them as we build them.” He continues, “Such commercial residential houses are sold in phases. They are being sold as they are being built because the residential trade here isn’t the same as in Phnom Penh.”However, the CEO and President of Khmer Foundation Appraisal, Noun Rithy, warns the developers of the Kampong Cham Borey Project to plan well. He says that Borey New World should consider limiting their development to a medium-sized Borey.He states, “It is possible to have a medium-sized Borey development in Kampong Cham, but it should not be as big as those in Phnom Penh, because Phnom Penh is a multi-economic zone with a huge population.” He explains, “In terms of Borey location, Kampong Cham town is a good location. There isn’t any risk, but they should be thinking about whether or not there will be renters after they buy it, or if they’re buying it to live or do their own business.”The Project:The Borey New World development will be located at Village 7. It will have a total area size of 3.5 hectares and will comprise of 270 commercial houses.  Around 20 percent of the project has already been completed. Prices will start from $68,000 and can go all the way up to $180,000. Properties in the area will be a mix of traditional and modern designs, according to the Phnom Penh Post.The Kampong Cham Borey development by New World is near the Me Sar Chrey pagoda, Me Sar Chrey Market, ACLEDA Bank, Me Sar Chrey Primary School, Natural Fruit Shop, Restaurant along Provincial Road 222.The newfound interest in Kampong Cham has also brought about a newfound confidence in what it can become. And as more and more developers take a leap into investing here, it’s only a matter of time before we see bigger changes built upon this big potential.FIND THE BEST BOREY HOMES ACROSS CAMBODIA RIGHT NOW!

The General Department of Taxation (GDT) has extended the deadline for owners to settle their immovable property tax.  The usual deadline is September 30 every year. This year’s deadline has been extended to October 31, 2016, a month longer than the usual date. “Property” is referred to lands, houses, buildings and other constructions that are built on the land.The GDT has already issued two official notifications, numbers 12723 and 13466, reminding all owners of immoveable property to submit their Property Tax Application and pay their tax.Notification No. 13466 ordered owners of registered immovable property to pay their 2016 tax at any tax office or branch of Canadia or Acleda Bank, using the receipt for their 2015 property tax payment if the size of their property had not changed size, been separated, demolished, or changed hands. If any such changes have taken place then owners must inform the GDT so the department can update its records for any potential additional tax payments.Note that the failure to register immovable property and pay tax may result in penalties in accordance with tax regulations.The purpose of the law is to rationalize the use of land and to benefit the sub-national administrative budget. The property tax is to be imposed in all municipalities and provinces of the Kingdom and applies to immovable properties valued in excess of one-hundred-million Riel (25,000 USD).Property Tax baseThe tax is to be collected annually at a rate of 0.1% of the value of the property. The value of the properties will determined on market prices as evaluated by the Property Evaluation Committee established by the Prakas of the Ministry of Economy and Finance.Property Tax Calculation: an example from Cam Accounting & Tax Limited is a leading audit firm (Chartered Accountants) in Cambodia which offers Tax, Accounting and Audit Services.Mr. Heng owns one three-level building (E0, E1, and E2) of 4m x 16m with a total land area of 10m x 40m. The market prices per square metre would be evaluated by the Property Evaluation Committee as follows:Land price: $400/m2 Ground floor (E0): $120/m2 First floor (E1): $80/m2 Second floor (E2): $65/m2 Land price: $400 x $400 = $160,000 Ground floor (E0): $64 x $120 = $7,680 First floor (E1): $64 x $80 = $5,120 Second floor (E2): $64 x $65 = $4,160 Total price of property: $176,960 Property Tax = (80%* of Price of property – $25,000) x 0.1% = ($ 141,568 – $25,000) x 0.1% = $ 116.5 The information in this article was provided by Mr. Keat Heng (ACCA, CPA), Managing Director of Cam Accounting & Tax Limited.Contact Cam Accounting & Tax Limited for further assistance. The company will assist you with your immovable property and any payments you are required to make, calculating the amount of tax due by calculating the amount of property tax payable and submitting the correct payment to GDT.For further information or assistance, contact: Cam Accounting & Tax Limited Head Office:Head Office: Room 508, 5 Floor, Bayon Market, No. 33‐34, George Dimitrov (St. 114), Sangkat Monorom, Khan 7 Makara, Phnom Penh, Cambodia. Phone:(855) 97 5555 298 E‐mail: partner@cam‐at.comLearn more about Cambodia property tax by watching this video on property tax on Realestate.com.khClick here to download your free copy!

It is extremely easy to create a new listing on Realestate.com.kh, whether you are a private seller, landlord or real estate agent.However, there are some simple ways you can improve your listing quality and make sure every property you list on Realestate.com.kh gets the views and sales leads it deserves.The better your listing looks and the more information it contains, the more views your listing will receive from prospective buyers – and the faster you will sell or rent that property.And to ensure property seekers on Realestate.com.kh are presented with the highest listing quality possible, we automatically display listings with 0-1 images at the bottom of the list. Quality listings will always be preferred by our website, and sit higher in the list of search results.Tips to improve listing quality:1) Upload more than 3 Quality Photos:Some buyers who are accessing the site from outside Phnom Penh, or internationals who are searching for property from overseas on Realestate.com.kh, can’t view the property in person, or may have trouble navigating new cities in Cambodia. Hence, they rely on the photos more than most property seekers. Therefore, it is wise to make sure you (or your agent) take high quality photos – and lots of them. Furthermore, in most cases, the user on Realestate.com.kh only wants a physical property inspection if they really like the look of the property in the photos. There are so many properties to choose from on Realestate.com.kh, that home seekers will not waste their time looking at properties with poor quality photos; or photos of a messy house.The more photos – the better: After all, a picture speaks 1000 words. Realestate.com.kh’s internal data shows that your chances of selling a property can increase by 85% if you upload more than three images.Real Photos: It is very important that the photos you upload are of the actual property you are selling, as this will show potential buyers exactly how the property looks – and prove it is a genuine property for sale.Quality Photos: Always use a camera, not your phone!Clean the House: Clean the house thoroughly and remove clutter to make the space look as big as possible.Remove personal items and fixtures: People want to imagine their things in the house, not your things!Use the Light: Take photos in the daytime when the sun is out! Make the property look as light and lively as possible.Variety of Photos: Take a photo of every room in the house, and try to include any eye-catching and unique features that will draw users to your listing.Consider Functionality: Take photos that demonstrate the functional aspects of the house also. For example, include pictures of the connecting hallways, the security features, the laundry and the size of the car parking spaces. These may not be the most exciting images, but the to potential buyer or renter they hold a big value.Upload landscaped images: If the image you upload is portrait it appears cropped on the listing on Realestate.com.kh until the image is fully opened. If the image uploaded is landscaped, it looks good even when embedded inside the listing. So always flip the photo file before you upload it.2)Take time writing a Quality Listing Description:Offer as much detail as possible when you are writing your listing description. And most-importantly, put yourself in the property buyer’s shoes! What features will they find most attractive in your property? REMEMBER, do not rewrite the price, size of the property, number of bedrooms and bathrooms, your email address or phone number etc. in the description section, as this confuses the user. Instead, use the dedicated sections where you can tick the features of your house, and add price etc.English AND Khmer: Write an English AND Khmer listing headline and description in the designated section. Don’t kill half your audience by ignoring one language.Tell us the Title: What title do you have for that property – soft title, hard title, strata title etc.? Tell the buyer in the listing description.Special Features: What special features does the property have? If there is something special about the property, tell everybody!Property Uses: What is the property's current use? What are the property’s potential uses? Are there any restrictions on its future use?Nearby Amenities: What are the amenities and attractive places that are close by to your property – schools, hospitals, shopping centers, government institutions, transport etc.?Construction: Is the property’s location free from ongoing construction? As major cities in Cambodia see construction booms, a property free from the noise and distractions of ongoing construction is an attractive feature.Access Roads: How about the road quality and quality of infrastructure near the property?Renovations: Has there been any recent renovations to the property?Extra Notes: Is the price negotiable? Are contractual terms flexible? Are their benefits to long term rental agreements (if a rental)? Do any services come free/inclusive with the property?  References: If you have any online references from previous clients who recommend your services, or ex-tenants who have positive reviews about the property, or a personal LinkedIn profile, include these all in the listing description – and inside your seller profile on Realestate.com.kh. All these things will build trust between you and the potential buyer/renter.3) Get your Contact Details Perfect:Your listing is a waste of time if people can’t get hold of you! So make sure your contact details are perfect.Add two phone numbers and two email addresses if you know that sometimes you will be too busy to take the calls.Take time to improve your “Personal Profile” or “Agent Profile” on realestate.com.kh. This profile allows you to give some extra information about yourself and/or your real estate agency. Completing this profile before you list is the perfect way to create a sense of trust and familiarity between yourself and potential buyers and renters. The more people know about you, the more people will see you as a legitimate seller/renter.If you are an agent, you should also include your agency’s name and upload your business’ logo to your profile. Whenever your logo is spotted on a listing, buyers will immediately know who you are, and your agency’s reputation. This recognition will ensure you benefit from the reputation of your agency’s brand, your previous transactions and build long lasting and profitable relationships.Also, if you are an agent, add a professional photo of yourself. A professional picture adds more credibility to your listing.Make sure you are registered on realestate.com.kh’s “Find an Agent” page too – and complete the profile. This is where our users come to find an agent, so make sure you are on the list! 4) Make your Property Listing Headline Count!Add a “Property Headline” in both English and Khmer – and make it count. If it is simple and clear, people will find your items before they find another. Realestate.com.kh has thousands of listings, so you need to make sure your title quickly summarizes what you have to offer!SEO Optimize it: Think about what people normally search for on google or on realestate.com.kh, and make a title for your listing that includes key search terms.Give a short, simple and relevant name to your listing. For example, “Big Villa for Sale in Toul Kork” or “10th Floor Condo Unit On Street 51” are ideal name choices.It is just a title! Save any description for the dedicated description section.5) List a price – Don’t list Price On Application (POA):At realestate.com.kh, we have found that potential buyers generally read the home’s description and expect to see an exact listed price. As such, we strongly recommend that you include a price on any listing if you want to maximise your inquires.Don’t scare potential buyers: If a home features a long list of unique details but lacks a sales price, buyers tend to think the home is likely overpriced. Make it easy for someone to investigate your home further by providing as many details as possible: including a list price.If the price is negotiable: also let the user know in the listing description.If the terms of sale/rent are negotiable: let the buyer know in the listing description. 6) Follow up your sales inquires QUICKLY and PROFESSIONALLY:When you receive phone and email inquiries for your property on realestate.com.kh, it is extremely important that you follow up with the potential buyer and renter as fast as possible. If you don’t get in touch quickly, your potential buyer or renter will soon find another offer, and another seller who is more interested in them. Following up inquiries slowly immediate makes you seem unprofessional and unorganized!International leads process: For international inquiries it is best practice to first contact via email with clear information, and then follow up with a call in English language, or whatever is the preferred language of the international buyer.Know the language: If you don’t speak English, or whatever the buyer's preferred language is (albeit French, Chinese, Japanese, Thai, German etc.), find a friend who does speak this language fluently to follow up the lead for you.Remember, an international user who inquires through a property portal is a SERIOUS LEAD and should not be wasted. Internationals totally understand the real estate portal system, and will only inquire to you if they genuinely intended to!Local Buyers: For local inquiries from inside Cambodia, it is best to call directly, as soon as possible.Know your product! Always be professional and understand your property information perfectly before calling. If you seem confused about the details when you contact the potential buyer or renter, they will lose trust in you and your property.For agents listing old properties: if the potential buyer or renter has inquired for a property that you know is already sold or rented, please be honest about this when you contact them about their inquiry. If you are honest about this, you can then establish enough trust with the prospective customer for them to allow you to show them similar properties that you are listing. 7) Upgrade Listings:You can now upgrade your property listings for sale or rent to “featured” on Realestate.com.kh for only about $1 per day! This means your property will be on the top of the list, and get more exposure and more inquiries. Just click “Upgrade” on the property that you want to upgrade inside your seller’s office and we will do the rest!8) Refresh Listings:If your property is still for rent or sale, you can now refresh your listing once every 7 days and bring it back up to the top of the list! When you click “REFRESH”, the property will be moved back up to the top of the list where potential customers will see it!Harness the online revolution that is spreading across Cambodia – and get your listings sold on Realestate.com.kh today, Cambodia’s home of real estate.Make a listing now! It’s fast, easy and free, with no commission on sale!

North Park Condominium perfectly blends contemporary design with modern lifestyle amenities, in a lush, natural environment, featuring lavish-style grounds and facilities. The first thing you will notice on arriving at North Park is the sense of space. The same is true when entering the apartments themselves.With 1.2 hectares of beautifully landscaped gardens, North Park’s intention is to blend between interior space and its luscious open space surroundings. Designed to create a world class lifestyle unlike any other, North Park boasts stunning interior and exterior features with 5 star resort amenities.With a beautiful lagoon swimming pool, restaurants, gym, playground & 24 hours security, your daily life will be enhanced by the feeling of relaxation and exclusivity.Financial:35 percent of the 55 units in the Sapphire tower have already been sold before its official handover date on March of 2018. Currently there is a special promotion called North Park Guarantee (NPG) which enables serious buyers’ huge savings. For a limited time only the current promotion is open to 7 units which comprises of a discount, a 7% rental guarantee annually for 2 years and free property transfer.The Royal Group:The North Park Condominium is a project by the Royal Group of Cambodia. They are recognized as the country’s “most dynamic and diverse business conglomerate”. They are involved in telecommunications, financial services, media and entertainment, hospitality, property and transportation. They’ve also been part of large-scale development projects in other sectors such as the recent Royal Railways project.North Park Luxury:The North Park Condominium is a very low-density development that is family-centered. It was designed by international architects who followed international standards during the planning and execution of the project. Condo units range from one-bedroom to three-bedrooms that start anywhere from 55 square meters to 245 square meters. These all come standard with a large balcony looking over manicured landscaped gardens or a Laguna pool.They include amenities like the resort-sized pool, modern gym, children’s pool, lagoon, playground, restaurant, and BBQ area cater to different family members. The condominium also offers 24-hour security facilities and CCTV systems.It’s located along Street 2004 at the Northbridge Community in Phnom Penh. Notable landmarks in the location includes the Northbridge International School, CIA FIRST International School, Cambodian Country Club and Ratana Plaza Shopping Center.For a lavish and luxurious resort-like home for you and your family, the North Park Condominiums project is a perfect choice.Learn more about North Park Condominium today!Click here to download your free copy!

As the Phnom Penh Urban Area Expands Rapidly, Chaom Chau, Kakab is seeing huge Residential & Industrial GrowthIntroduction:Covering the majority of the western part of the capital, Pou Senchey district (locally called ‘khan Pou Senchey’ or Khmer: ខណ្ឌ ពោសែនជ័យ) is currently the largest of all 12 districts of  Phnom Penh and home to about 184,000 residents. As of today, Pou Senchey is administratively subdivided into 10 communes (locally called ‘sangkat’ or Khmer: សង្កាត់), namely Boeng Thum, Chaom Chau, Kakab, Kamboul, Kantaok, Ovlaok, Phleung Chheh Roteh, Samraong Kraom, Snao, and Trapeang Krasang.It shares borders with four other districts, namely Preaek Phnov district to the north, Sen Sok and Meanchey to the east, and Dangkao to the south.Market Summary:Pou Senchey, since the last decade, has seen a rapid pace of development, especially in the realm of residential, commercial, and industrial sub-sectors, leading to a considerable land price surge across the district. Observed within the period of the past three years, the district experienced an average annual growth of 31 percent in land prices, from US$110 p.sqm. in 2013, when averaged across the whole district, to US$170 p.sqm. in Q3 2016. Within those three years, 2014 and 2015 marked the strongest growth for land prices, yet during the course of three quarters of 2016 the prices were sluggish to move upward due to the situation that overall real estate market has cooled down steadily since late 2015.Fortunately, recent housing and plot land subdivision market stimuli practiced by many of developers have been seen to bolster the market growth again, albeit slowly, and this trend will continue helping boost market demand and thus keep real estate prices from going down negatively.Land Market and Pricing:In general, market prices for land across Pou Senchey district grew 31 percent y-o-y since 2013 until 2015, while the two bustling communes of Chaom Chau and Kakab grew about or less than 10 percent y-o-y because prices in the two communes were already high compared to the rest of Pou Senchey’s other communes.In term of land values and major business hubs, however, Kakab and Chaom Chau stand out from the rest thanks to their strategic locations as well as coverage of prime streets ideal for business positions. Kakab commune is immediately adjacent to Tuek Thla of Sen Sok district, while Chaom Chau commune is westwards next to Kakab.In Chaom Chau, land prices across the whole commune ranged from US$35 p.sqm. in undeveloped zones to a peak of US$1,800 p.sqm. along prime streets (e.g. Confederation de la Russie) and bustling commercial hubs. The average market price in Chaom Chau was US$400 p.sqm in Q3 2016, growing from US$320 p.sqm. in 2013. The average growth for land market prices was eight percent y-o-y.Immediately adjacent to Phnom Penh International Airport, Chaom Chau covers some part of the capital’s arterial street, namely Confederation de la Russie (Russian Boulevard in English), National Highway 3, and National Highway 4. Further, it shares a long distance of Veng Sreng Blvd.With similar geographic positioning, Kakab shares a similar market value as does Chaom Chau, but being closer to the central business hubs of the capital makes Kakab stand out in term of land prices and commercial demand. Land prices in Kakab commune grew 10 percent annually, from an average of US$380 p.sqm. in 2013 to US$490 p.sqm in Q3 2016. Kakab’s land market prices could range from a small base of US$70 p.sqm. in the undeveloped areas to a peak of US$2,080 p.sqm. along prime streets and in the most bustling commercial hubs.Nevertheless, a notable land price growth was mostly witnessed in less developed communes, as speculation seemed to be challenged by high prices in prime hubs and along major streets, but this speculative vision rather spilt over across the underdeveloped suburbs of Pou Senchey. For example, less developed communes such as Samraong Kraom, Kaboul, Snao, and Trapeang Krasang experienced a land price surge of about and more than 40 percent y-o-y, mainly due to their small price base and high price jump, as driven by the trendy development of plot land subdivisions.Samroang Kraom, which shares a long distance of Tomub Kop Srov Road, was seen with a remarkable growth in land prices following the road development that is currently almost complete. In 2013, the average market price of land in this commune was about US$45 p.sqm., and in Q3 2016 the average price reached US$150 p.sqm.. The average annual growth in the Samroang Kraom was almost 80 percent within the period of those three years.Similarly, Kamboul, Snao, and Trapeang Krasang experienced a big jump in land price growth, mainly driven by (1) increasing plot land subdivision development, (2) increasing demand for low-price land parcels and housing in the peripheral suburbs of the capital, and (3) the rapid pace of urban expansion especially since early this decade.Prime Street and Pricing:Chaom ChauChaom Chau is located west and south of Phnom Penh International Airport, being home to a large number of business hubs and residential zones, relatively similar to its neighbor Kakab. Residential towns and commercial activities concentrate only along the commune’s prime streets, thus making property prices along the streets higher than its less developed or undeveloped outskirts.In the third quarter of 2016, average land price along Confederation de la Russie (Russian Boulevard in English) in Chaom Chau commune was US$1,520 p.sqm., with a price range from US$1,400 p.sqm. to US$1,800 p.sqm.National Highway 4, the Kingdom’s arterial road interlinked with the capital’s main boulevard Confederation de la Russia, could be offered on the market at US$430 p.sqm on average. The base price started from US$140 p.sqm in the farther west parts of the commune and a peak of US$1,300 p.sqm. in the areas close to Chaom Chau Circle.On Veng Sreng Boulevard, land market prices could range from US$600 p.sqm in a less developed zone to US$1,550 p.sqm. in a more commercial zone, with the average market price at US$850 p.sqm.KakabKakab is closer to the city center, being home to Phnom Penh International Airport. The commune shares four of the capital’s main streets along which a large number of businesses are based, thus creating high values for land prices there.One of the high value, prime streets in Kakab is Confederation de la Russie (Russian Boulevard in English), along which land price could be about US$1,650 p.sqm. in Q3 2016, ranging from US$850 p.sqm. often for a large portion of vacant land, to US$2,080 p.sqm. for a prime commercial location.Another high value, prime street of Kakab is Street 2004, running off Confederation de la Russie through to Wat Ang Taminh Street. Along Street 2004, the average market price for land was US$1,300 p.sqm., with a range from US$800 to US$1,850 p.sqm.Next, along Oknha Try Heng (Street 2011), which runs off Confederation de la Russie through to the crossing railroad, average land price was US$780 p.sqm., with a range from US$570 p.sqm. to US$1,200 p.sqm. On the other hand, Street 105K is less competitive in land prices. By the third quarter of 2016 the average market price along this street was US$300 p.sqm., even if in the sought-after locations the prices could jump to US$750 p.sqm.Trend & Outlook:Market & Pricing TrendLand price growth across Pou Senchey district seemed stable since early last year, and it is predicted to see a slight increase over the course of the next two years by going through to 2018. In general, Pou Senchey’s pricing growth dropped negatively to 0.2 percent over the course of the first three quarters of 2016, though this has almost no impact on general price growth within the whole district.However, land prices as well as other properties in the form of land in Phnom Penh will start to pick up markly again by 2019.Urban ExpansionThanks to its many available large portions of land for new developments and  land properties with comparatively low prices, Pou Senchey has been seen with tremendous opportunities for urban expansion and relocation or new positioning of complementary services and amenities.Residential towns, several other types of cluster housing, and commercial establishments have been positioned in many different parts of the district, especially the district’s outstanding communes of Kakab and Chaom Chau, resulting in an increase of population there and leading to increasing demand for new housing units and related infrastructure improvements.Opportunities have been there since many years ago for Pou Senchey mainly thanks to its strategic locations, coverage of capital’s arterial roads and main streets, and large space available for urban expansion to host the increasing number of population as well as industrial and commercial positioning. Further, the increasing demand for development parcels with comparatively low prices also offer the district lots of opportunities for growth.Since recent years, it is notable that a number of developments have concentrated in the commune of Kakab and Chaom Chau, both of which shares arterial roads and main streets, along which commercial activities exist to complement the increasing number of residential communities nearby the areas.Tomnub Kop Srov Road, one of the capital’s ring roads, will be soon complete, while Veng Sreng Boulevard was rehabilitated by being expanded 22 meters wide and paved with concrete. Both of the roads run through parts of Chaom Chau and other parts of Phnom Penh. These establishments have created numerous opportunities, added further property values, and drawn new development potentials to the areas, especially along those streets.In Kakab, recent developments are in the realm of residential and commercial subsector. Notable developments under construction are Budaiju Residence (condominium project) and Lion Mall (commercial and shopping complex) along Confederation de la Russie, as well as many other cluster housing projects, both complete and under construction. Up to date, in Kakab commune alone, about 2,700 new cluster housing units have been complete, and 950 are under construction. Nevertheless, 3,300 units of the planned housing projects have been halted construction so far due to unsatisfactory pre-sale results.Industrial Trend:Increasing land prices and rental costs in the zones nearby inner city center will force existing factories that rely on rents to consider relocating to the suburbs such as western parts of Pou Senchey where rental costs and cost of living of workers are much lower. Easy access to National Highway 4, which directs to the Kingdom’s most important seaport, might also weigh the consideration for new factory and other industrial park positioning.As of today, Pou Senchey is already home to 40 percent of the total factories in Phnom Penh, ahead of Dangkao (22 percent) and Meanchey (15 percent).Learn more about Cambodia today in our detailed location profile!Click here to download your free copy!

There is an ongoing discussion about the supply of condominiums in the country, and the same question gets asked over and over again – whether it’s true that the country's condominium supply is more than the demand, and how that will affect the condominium market in the future. Realestate.com.khTV discussed this with Mr. Yin Leangkong – editor in chief of the magazine Property View, and presenter and editor of real estate and economics at BTV.A recent Knight Frank Cambodia report stated that “the condominium sector is forecast to grow by 723.5 per cent” by 2020. And The 2016 Century 21 Condo report estimates that there will be over 37,000 units to be released into the market by 2020. What are your thoughts on this and the current talk of a looming oversupply? Do you agree? And how will this affect the market moving forward? In my opinion, I both agree and disagree. If I talk about the negative side, we can just briefly look at the Cambodian lifestyle. It seems that the residential condominiums are not yet popular in the country. Although some people started buying condos gradually, some of them still worry about safety when living on high-rise buildings. For the moment, we cannot adapt. So, the projected surplus in the condominium market, it’s true.The number of condominiums in the current market hasn’t reached 4,000 units yet. But the number of condos on the market could potentially reach a figure of around 40,000 in 2020. So, I’m optimistic that the people's mindset will change in the next 10 to 20 years before the population growth in the year 2025. People have more difficulties to deal with the traffic growth of our country's.And since the economy is affected by these factors, the value of property is already at $40,000 to $50,000. At this price point, we can buy an old flat (second or third floor). If this is the case, the best option is to just buy a condo unit, a standardized housing that provides features such as safety, modern way of living, and other services. We saw it happen already in Thailand, Vietnam and Malaysia.Are there condos worth $40,000 to $50,000?Condominiums worth $40,000 to $50,000 are available in the market and have a strong potential for purchase among the young and middle-class local citizens. It is a response to market conditions. A number of local buyers who purchase luxury condominiums are foreigners or those who have higher living standards.What is the impact of the condominium surplus for buyers?It doesn’t affect the buyer too much. In fact, investors are the ones that will be affected. When the number of condominiums surplus, that means that there are no buyers. So, investors or condo owners are forced to give a discount.If we talk about the price comparison to neighboring countries, the condominiums in Cambodia are cheaper. But if you talk about value for investment and construction, there’s a huge difference because those investments are much more profitable. So, they can afford to give discounts to people who are in the middle-class range who cannot afford to buy housing – a point that many experts have suggested as well. You can invest for profit, but you should also consider the social aspects. Investors should work with people not only for business profit, but also because of a common interest to help them.Given the current market conditions, should investors invest in Cambodia or not?One of the questions investors ask is if it’s the right time to invest in the country, given its current market conditions. Investors will continue to repeat that question. The current political situation in the country is heating up, and the issue of election season is worrisome for some investors. But other investors think that it’s just the same occurrence in almost every country. So, they don’t worry about anything.In my opinion, should investors wish to make an investment in a community of the country, it should be based on the country's economic situation. Cambodia’s a tiger in Asia because of the country's stable economic growth of about 7 percent over the past five consecutive years. The macro-economic growth of the country has improved as well, according to a press release from the Ministry of Economy and Finance.Read more about: Are Cambodian living tastes changing?Click here to download your free copy!