The name Donald Trump brings controversy wherever it goes. It doesn’t matter if it’s in a reality show or if it’s in politics. Prime Minister Hun Sen even noted that he preferred Trump to win because it would ease tensions between Russia and improve global cooperation. And the prime minister did get his wish. Donald Trump has been named President of one of the most powerful countries in the world.But what does this mean for countries in Southeast Asia?Marc Townsend – the Managing Director of CBRE Cambodia and Vietnam – discussed the implications during his presentation “Is Cambodia’s Residential Market a Target For Investment?”An Interesting Change:Townsend mentions that Cambodia may not be directly affected by Trump’s victory. But he warns that Cambodia may not remain completely unfazed by it either. A trans-pacific partnership has been in the works during the Obama administration to enhance trade among 12 countries by means of free trade zones. But this may have hit a dead zone as Trump has expressed opposition towards this specific trade agreement. No decision has been made about the issue yet.Townsend explains “it will be interesting to see whether that happens. Obviously, Cambodia’s not so much involved in that. But the ripple effect will be interesting. Obviously, with Mr. Trump’s election future trade agreements become increasingly distant.”The Ripple Effect:The hostile treatment of the United States government under the Trump administration will focus on an “Americans First” master plan. This means providing more jobs to Americans by removing most outsourcing industries. Trump might impose higher tariffs on import as well.Fortune mentions that “any such moves could also hurt Asian exporters who ship components there for assembly and export to the United States, at a time when global trade is already weakening.” It is important to note that most of the countries that will be affected by this change are major investors of Cambodia. A weakening of their trade policies with the United States of America may spell trouble for the country given its reliance on industrial based exports. The Dashboard from CBRE Cambodia:Townsend said “We put this dashboard together every month. And you can see here, particularly, it’s important to see where we’ve come from, where the FDI numbers have come from, where they’re going to.” His presentation showed no future FDI estimates from CBRE as a result of the uncertainty that the Trump administration may bring. They do expect stable GDP growth though.It is difficult to see how Trump’s going to play the presidency out until he reaches his first 100 days. But many are still hopeful that his making America great again will include better foreign trade agreements with nations such as Cambodia.Find more Investor Guides in Cambodia on Realestate.com.kh

Cambodia real estate speculators recall the market of 2008–10 in which Phnom Penh property prices fell around 40% across the board, not fully recovering until as late as 2014. Domestic confidence in the market plummeted during this period, and this dropoff in demand was significantly accentuated by a global economic crash. The period saw large declines in FDI flows into the nation and its property market. Warning signs are appearing in the current condo market of Phnom Penh that show some similarities to this last property market crash. The current state of the market is suggesting that condo Investors now need to consider longer term investment if they want high returns - as opposed to cashing in quick for short term gains.In 2016 we can see a new developments market (particularly condo) predominantly targeting the foreign investment market, with prices so high as to block all but a small fraction of local buyers entry into the market. The predicted supply increases seem likely to outstrip the markets current ability to absorb, meaning proposed rental yields are unlikely after the bulk of new units come online between 2018-2020. Investment returns on resale are also in question alongside new supply rates, and plateauing land prices in central Phnom Penh where the majority of condos are being built.A condo oversupply red flag for investors exists when unit sales prices are growing faster than the money flows and returns on investment that underpin those units’ values. This uncertainty around secondary markets for the large new supply of condos set for release is worrying some investors.Many condo developments are offering a guaranteed rental return for a period of time. The lower end of these returns represents 6-7% per year, and some are as high as 20%. These returns are generally guaranteed for 3 years by the developer - meaning, regardless of whether or not the property is rented, the developer is obliged to pay the returns to the buyer.When the guaranteed rental yields for the incoming glut of condos expire, owners might decide to sell, having found that tenants are in-fact unavailable given the huge supply at the time available in the market. This lack of rental income could lead to buyers forfeiting mortgage repayments with no option but to sell the units. The concern is that if too many of these guaranteed rental periods expire in the same period of time, as they appear they will given that the majority of units will be released into the market between 2018-2020, this could result in a fall in condo prices as the market is flooded with resales.  Given that foreigners make up the vast majority of high end rental yields, the dramatic increase in condo supply over the next 2-4 years is supported by an underlying belief that a secondary market will continue to grow to supplement demand. The belief is that more foreigners with means to rent or buy prime condo properties will move to the capital city to live and work.Yet, population statistics do not appear to be supporting this prediction. While the number of expats currently in Cambodia is widely quotes at a total of 80,000, the Ministry of Labour recorded that only 35,000 applied for work permits in 2015, and just 25,000 of these permits were granted.  The other way that the resales and rentals market could increase is through domestic means for condo investment increasing, however, this too appears to be limited. Domestic demand is also a key element of a successful condominium project for any developer in Cambodia, due to foreign ownership of an individual building (strata law) being restricted by law to 70%. This means 30% must be sold to local Cambodians. Despite significant population growth, the World Bank citing 4% year on year in Cambodia, local buyers still lack the means to buy into the condo market for the largest part. Most local buyers are struggling to satisfy deposit and payment requirements for mid to high end condo units, which represents that largest portion of incoming supply. In 2014, a Park Café consumer survey among Phnom Penh’s active professional population showed that only 1% of this class earned between $2,001 to $5,000 per month; and just 6% between $1,001 to $2,000 per month. To compliment this statistic, VTrust’s housing market survey in 2015 stated that 54% of the respondents wished to buy homes at net prices between $30,000 to $70,000 per unit. In comparison, V Trust noted that 40% of current condo market unit supply are priced less than $70,000 per unit. Furthermore, consumer tastes appear to remain firmly focussed on the landed properties market. The VTrust survey found that just 9% of these buyers would choose to buy condos - the traditional preference for landed properties remained dominant in the survey.This situation of an oversupply compared to domestic demand has been accentuated by the recent economic slowdown in China and other Asian countries, further slowing demand for Cambodian investment properties from key investor markets across Asia. In regards to the condo market for international investors, Marc Townsend, Country Manager for CBRE Vietnam and Cambodia, notes in a recent presentation that, “It’s a limited market at the moment. And obviously, at some point, it will come on the radar screen of a wider group of people”. Once Cambodia enters the consciousness of investors around the world, the market has the potential to change dramatically. Yet apparently, as of 2016, this consciousness is relatively small.Townsend adds the need for a diversified investor pool to negate risk across the market, a point that is well demonstrated by the recent slowdown of the Chinese market: “We need investors from all over the region. Not just from one place. You need to have a balance.” Otherwise, when one set of investors for some reason boycott the market or lose their influence in the country, the market can still be sustained by the overall investor pool.The Taiwanese, for instance, represent one of the largest investment property buyer groups in Cambodia currently. If the Taiwanese market shies away from Cambodia due to a lack of confidence in the secondary market or growing political tensions as the 2018 elections loom, the entire market could take a dive. “Education of investors is the most crucially needed factor to maintain a healthy market in the long-term,” suggests Sam Yang, ceo of Eastland Development HK Co. Ltd, an active developer with three large scale projects underway in Phnom Penh. Yang continues, “This is because so many non-Cambodians do not have a clear understanding about this country or even Phnom Penh. As for locals, they don’t yet appreciate fully the benefits of living in a condo. I suggest that there is a strong need to increase this country’s exposure to the rest of the world via advertising abroad, introducing the beauty of this country. And that’s something that the government can lead on and coordinate with the private sector in order to achieve success.”Given Cambodia’s overall dependency on the garment and footwear industries currently, if market conditions for manufacturing these products change to a point where major stakeholders decide to move their operations away from Cambodia to more competitive markets, this could also alienate a large sector of the international property investment pool.Yes - despite these risks - in the long run, the condominium market should correct itself by reaching the equilibrium where condo prices and quality will be geared to genuinely suit buyers demand, affordability and preferences, both domestic and international, and the prices will adjust to reflect the real potentials for rental yields upon completion. Marc Townsend of CBRE in a recent presentation says this is the mark of a maturing market whereby, “trajectories have changed from being favorable to the developer to favorable to the buyer.”Yin Leangkong – editor in chief of the magazine Property View, and presenter and editor of real estate and economics at BTV - notes in a recent interview that we will not see a crash like in 2008 caused by a condo oversupply, however: “It’s impossible! Actually, the real estate crisis in 2008 did not start out from Cambodia. It was a global crisis that started from the United States. And although the real estate market slowed down, intelligent and experienced investors in real estate have already taken precautionary measures. Moreover, government already issued regulations to prevent a crisis in this sector as well.”Matthew Rendall of ZICO law notes in a recent interview with Realestate.com.kh that, “what is crucial is the need for developers to organize a working exit strategy.  I.e. The long term management of the apartments blocks once the development is finished and completely sold. There needs to be a development of the owner-run body corporate culture (where owners come together as the management body and control the sinking fund etc).  Failing this, the developers either have to manage the apartments blocks in perpetuity or risk the development falling into disrepair. Buyers will start to look at developer's previous developments and judge them by how well they are managed (when deciding whether to buy into a developer's subsequent development).”Ross Wheble, country manager for Knight Frank concluded in a recent interview the Phnom Penh Post, that many property developers are only just beginning to understand the dramatic changes that the condo market has witnessed over the last few years. Wheble predicts, “There will certainly be a period of consolidation, particularly when you compare rental prices across the different sectors here in Phnom Penh with major cities such as Kuala Lumpur and Bangkok….We advise any investor that they need to take a long-term view as opposed to short-term speculation.”“Demand from foreign investors has been declining during the past six months and developers need to be more innovative in terms of the products they are offering, with the market now more price sensitive,” continues Wheble.Sunny Soo of Keystone Property Consultants Co., Ltd., an international associate of Savills, notes that, “it is normal to have winners and losers in a competitive market where development is in-itself a higher risk business. If any developer’s pre-development preparation is not market-driven but rather fueled by optimism alone, this is the price of ego the market has to pay.”One final point is that developers are now looking to new products in new markets, outside of Phnom Penh. Fears of oversupply in Phnom Penh are naturally pushing developers to look to new markets, the frontrunners currently being Sihanoukville, Siem Reap, Battambang and Poipet. Check out the condo market opportunities now!

Phnom Penh’s landed housing developments are a fast growing subsector of the real estate market, and recent research findings record that there are currently up to 400 gated landed housing developments of all scales scattered across the capital city of Phnom Penh.This Phnom Penh housing supply is being driven by rapid growth in the local population and family households, meaning this sector of housing demand is estimated at about 6,300 units per annum in Phnom Penh alone.In light of this, VTrust Appraisal Co., Ltd. has conducted a comprehensive survey “Housing Market & Outlook Report 2016 – Phnom Penh”, the result of which will be released to the public on the 16th of December. The market survey results being presented at this seminar will provide crucial information for real estate and construction professionals, the banking and home loan sector, developers, investors and policymakers.Realestate.com.kh is proud to be a supporting partner of this event. Housing Market & Outlook Report 2016 – Phnom Penh:When:Friday, 16 December, 2016: 8:00am – 4:30pmWhere:Phnom Penh Hotel (Monivong Boulevard) Who: Mr. Sim Hoy Chhoung, C.E.O, VTrust Appraisal Co., Ltd.Mr. Hoem Seiha, Director of Research, VTrust Appraisal Co., Ltd. Dr. Sopon Pornchokchai, Ph.D., D.FIABCI, CRS, MRICS, and president of AREA Mr. Chrek Soknim, CEO of Century 21 MekongWhy:Insightful statistics, indicators and information regarding landed Phnom Penh housing market are crucial for developers, bankers, real estate players, policy makers, and other interested stakeholders.Fee:Participatory fee is US$193 per individual (ONLY until 5 December 2016!), with study materials and full lunch provided. regular Pricing is US$237 per participant.Language:English, with spontaneous Khmer interpretationDownload Full ProgramContentsHistorical and Cumulative Supply of Phnom Penh Housing, by year since 2000New Supply of Phnom Penh Housing in 2016Supply by Types of Phnom Penh Housing, Location, Zone, DeveloperMarket Performance, Number of Units Sold, Sold by Type, Location, DeveloperLocal Demand and Affordability for Housing Survey ResultsMapping of Phnom Penh Housing Development ProjectsSale / Stock Ratio,Number of Units Released by year since 2000Sold Prices by Type, Location, Quarterly Pricing AnalysesMarket Absorption RateTake-Up RateHousing Market Outlook onto 2017Industry Conclusion and Recommendations   Contact Information:Ms. Chhoeurn Sonita, General Manager, Entrepreneur Consulting,  Tel: (855)-12-90-63-40/ (855)-86-777-734/ (855)12642466 | email: entrepconsulting@gmail.com hsrealestateconference@gmail.com | Website: hmor-pp.weebly.com | office: #113 (Parkway Square), 2nd floor, Mao Tse Tung Blvd, Tuol Svay Prey 1, Phnom Penh, Kingdom of Cambodia

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talks to Realestate.com.khTV about where to go shopping in Phnom Penh and details what are the most Popular Shopping Markets in Phnom Penh.What are the most popular shopping markets in Phnom Penh?There are two popular markets in the city of Phnom Penh. These are the Russian Market (Phsar Toul Tum Poung) and the Central Market (Phsar Thmey). These are where both foreigners and local usually like to go shopping.Why are these markets so popular?They’re both popular because they have local Khmer products like handicraft, silk, handmade jewelry, and other types of souvenirs. Foreigners like to stop by and shop for souvenirs there before going back home to their country. But these markets are also popular with expats and locals - because besides souvenirs, you can find almost anything if you search around in these traditional markets.How about the food quality?Well, the food in both markets are really good and popular too.  In terms of pricing, it is as good as the taste. People can easily find various local food here such as fresh fruit shakes, grilled fish, grilled pork, Khmer noodle soup, fried noodles, fried rice, and porridge.Are there pubs, bars, restaurants, and shops around the Russian Market?Yes. Because there are a lot of expats living in the Toul Tum Poung Market (Russian Market) area. And tourist also roam around the area to enjoy both Khmer and Western food. There are also international restaurants where you have options for entertainment or beer. All these things make the Toul Tum Poung Market even more popular.Learn more about life in Toul Tum Poung!

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

Condominium is a non-legal term. It describes a kind of ownership of certain types of private properties (known as ‘co-owned buildings’) where there’s a distinct and separate ownership between individual units and common area co-ownership.A strata title refers to the certificate of ownership for such an individual unit in a co-owned building. There are also a number of laws, policies, and amendments made in Cambodia to safeguard the condominium and strata titling mechanism.Some of these points regarding Strata Titles in Cambodia were discussed during a recent breakfast briefing conducted by VDB Loi in association with PYT & Associates, IPS Real Estate and Yong Yap Properties. The speakers included senior associate and real estate specialist, Mr. Lucas Vosch, VDB Loi Taxation Director, Mr. Robert Porter, IPS Real Estate Country Manager & Condominium expert, Mr. Grant Fitzgerald, and Yong Yap Properties General Manager, Mr. Desmond Yap.Land Law of 2001: The Land Law of 2001 came as a revision for the original 1989 Land Law of Cambodia. The 2001 revision created a provision for the private ownership of land. This also became the starting point for the creation of the land registry system that issues Cambodia land titles that remains in place today.Article 1 of the Land Law states that it “has the objective to determine the regime of ownership for immovable properties in the Kingdom of Cambodia for the purpose of guaranteeing the rights of ownership and other rights related to immovable property, according to the provisions of the 1993 Constitution of the Kingdom of Cambodia.”The law includes the provisions on public and private property, principles of ownership, collective ownership, acquisition of ownership, land concessions, rights and obligations of owners, limited proprietary rights, undivided ownership, co-ownership, joint ownership, immovable property, mortgage, Cadastral administration, and penalty provisions.Law NS/RKM/0510/006:This law generally “provides foreigners with ownership rights over private parts and rights to use and enjoy over the common parts of co-owned buildings.” This law limits foreign ownership to above the ground floor and to a percentage of the building to be determined separately by sub-decree (refer to Sub-decree no. 82 below).  This law contains topics on general provisions, general principles, Acquisition of special co-ownership, rights and obligations of the special co-owners, procedure for registration and issuance of certificate, penalties, and transitional provisions.Sub-decree No. 82:According to official documents, “This sub-decree is to determine the proportion and calculation of percentage of private units that can be owned by foreigners in a co-owned building in the Kingdom of Cambodia.The sub-decree states that “Legally qualified foreigners can have ownership rights in private units of a co-owned building not exceeding 70 (seventy) percent of the total surface-size of all private units of the co-owned building.” It also states that in “issuing a certificate of ownership of a private unit of co-owned building to foreign owner, the Cadastral Authority shall write down on the certificate about the proportion of the surface-size of each private unit comparing to the total surface-size of all private units in co-owned building.”Sub-decree No. 126:The goal of Sub-decree No. 126 is to “determine management and use of co-owned buildings as well as mechanisms and procedures for registering ‘private units’ of co-owned Buildings.”According to the documentation of the same law, “The scope of this sub decree covers all categories of co-owned buildings that were legally constructed in the Kingdom of Cambodia. Only legal or individual persons of Khmer nationality can own private units of a co-owned building unless there are specific provisions stipulating the contrary [refer to laws and sub-decree noted above].”Sub-decree No. 114:This Sub-decree determines the procedures and rules for the application and regulation of Value Added Tax in reference to the supply of services or goods in Cambodia. This law also covers the requirements for registration, registration of investment enterprises, cancellation of registration, credit for input tax, tax invoices, non-taxable supplies for diplomatic missions and international organizations, adjustment of tax amount, supply of goods or services for consumers, supply by an agent, collection of VAT at importation, zero-rating of the export of goods and services, and transfer of a business.Learn more about Strata Titles in Cambodia and the process of getting one!

Marc Townsend – Managing Director of CBRE Cambodia & Vietnam – recently tackled the question, “Is Cambodia’s Residential Market a Target for Investment?”His presentation included updates on the status of the condominium market in Cambodia. He talked about the upcoming supply and the various sources of activities in the market. He also compared the residential market of Cambodia with its neighboring countries. Townsend’s discussion focused mainly on Phnom Penh. He also touched a bit on the retirement sector.Condominium Activity in Cambodia’s Residential Market:Townsend mentions that there will be around 7.6 billion dollars coming into real estate in Q3 of 2016. And some of these investments are to develop different condominium projects. He explains that most of these investments are coming in from countries like Taiwan, South Korea, Malaysia, and Singapore.China remains to be one of the biggest investors in the country. Townsend says that most of the projects are “mainly mixed-use with some component of commercial property.” He states that there is a dramatic increase in the sizes of these projects and their speed of delivery.Townsend continues to say that “particularly, as the infrastructure improves, the ability to sell these units, off the plan – because it’s all off the plan – is obviously very important.” But he clarifies that this is not the first cycle for Cambodia. He recalls, “The first cycle was when CBRE opened its office about 8 years ago, we had the first movers which were mainly South Korean developers doing high-riseprojects. So, this is the second time around. The first market blew out relatively quickly after 2008. Again, a mixture of oversupply and just a little bit of resistance about moving it from townhouses, row houses, villas into high-rise and mid-rise properties.”He says that demographics have changed. The population is getting younger and that resistance is slowly disappearing. He also says that the secondary market is also softening.Residential Market Projects:Townsend says that land prices in Cambodia are relatively lower than in Vietnam. He explains that it may be due to Cambodia having fewer projects and a more availability of land, or because Cambodia has higher margins.But he also states that “for the moment though, you’ve just got traffic to cope with and not pollution. It will come as your industries start to change.”He also notes the changing number of residential units and explains that “if you divide the size of the project by the number of project, you can see it.” He adds that “five years ago, a big project was two or 300 units. Now you can see projects here of up to a thousand units at a time.”Retirement Market in Cambodia’s Residential Market:Townsend says that Cambodia is an attractive area to settle down. This is because it has a lower cost of living than other popular areas for retirees. But he warns that Cambodia still has to work on medical, travel, and infrastructure concerns in order to attract more mature investors like Malaysia. He states, “We weren’t trying to prove anything here because we were just trying to see whether there was a market that was sustainable. Malaysia’s gone a long long way to trying to attract retirees with their silver-hair visa. And Cambodia is just starting. And it’s interesting where it possibly could go. As long as you get the right type of retirees.”He explains that cost of living is one of the main selling points for normal expats. But this isn’t always the case for all ages. He says that “a lot of it comes down to medical. And if you’re in good health, it’s not something that you worry about. But obviously, as you get older, the ability to have just a simple consultation, ten minutes with a private practitioner/general practitioner – in your own language – and knowing that the pharmaceuticals you’re buying over the counter are safe, again, these are issues that Cambodia has yet to overcome.”Townsend closed his presentation by saying that “as long as the organization is happening, as long as the infrastructure’s still going in, we’re confident about the mid to long-term future of the Cambodian market.”Do you want to know more about the Cambodian real estate market? Stay tuned for daily updates on our news section!

Report SummaryRuessei Kaev’s landed housing market grew remarkably within the preceding five-year period from 2012 to 2016, with  an average of 1,600 new housing units launched into the market each year. Well over 2,800 units were completed in 2016, and it is projected that well over 3,000 additional units will be finished off and ready for prospective occupants by 2017.Fortunately, only 14 percent of the launched units are awaiting total completion recorded as of today, whereas 17 percent are still listed on the market inventory. In sum, albeit a slight market slowdown since the end of 2015, housing market stimuli initiated by developers has come to ignite the demand engine again, giving rise to a ‘slightly’ positive trend expected to continue over the course of 2017.Ruessei Kaev DistrictRuessei Kaev district (Khan Ruessei Kaev or Khmer: ខណ្ឌឬស្សីកែវ) is one of Phnom Penh’s 12 districts and administratively subdivided into 6 communes (Sangkat or សង្កាត់), namely Chrang Chamreh Ti Muoy, Chrang Chamreh Ti Pir, Kilomaetr Lekh Prammuoy, Ruessei Kaev, Svay Pak, and Tuol Sangkae. The district lies north and northeast of the prominent central business districts of Doun Penh and Tuol Kouk, having easy and quick access to the central city of Phnom Penh. As combined, Ruessei Kaev district is currently home to an estimated number of 180,000 residents.IntroductionThe rapid growth in population, increasing traffic pressure, and rising property prices in the inner city center have all  quickened the increasing rate of urban expansion to many different suburban parts of the capital, including many parts of Ruessei Kaev district. Thus, housing demand started to exist, especially in the suburbs, as a way to accommodate this rapid growing population.Landed housing market began in Phnom Penh since 2002, when a few of supplies were on the market and some of the housing construction work was started for a few hundred housing units in some parts of the capital. Afterwards, Ruessei Kaev, one of Phnom Penh’s 12 districts, saw a gradual increase in cluster landed housing market since 2003, when Borey Rith development was first launched in Tuol Sangkae commune (in Ruessei Kaev district), supplying a rough number of 700 linkhouse units.Housing Market ShareAs of today, Ruessei Kaev district is home to a cumulative supply of 12,200 landed housing units (with 86 percent complete, while some under construction), clustering in different communes of the district.Recorded as of 2016, Chrang Chamreh Ti Muoy shares 21 percent (about 2,544 units) of the total cumulative housing market supply; Chrang Chamreh Ti Pir, 4 percent (465 units); Kilomaetr Lekh Prammuoy, 25 percent (3,085 units); Ruessei Kaev commune, the largest market, up to 29 percent (3,574 units); Svay Pak, 5 percent (597 units); and Tuol Sangkae, 16 percent (2,004 units).   Market Share by Project Across Ruessei Kaev district, a number of cluster landed housing projects have been positioned to offer residential options for home buyers from different parts of the capital. The market share dominance as of 2016 was Borey Vimean Phnom Penh by Ly Hour Development Co., Ltd., sharing up to 16 percent (1,977 units, 90 percent of which were complete) of the total cumulative supply.Borey Peng Huoth, Borey New World, and Borey Rith shared the second largest market in the district, up to 9.1 percent, 8.9 percent, and 8.4 percent (1,120 units, 1,102 units, and 1,035 units, respectively). Nevertheless, there were also many other projects with fewer than 400 units, collectively sharing up to 39 percent (4,787 units, 84 of which were totally complete up to the date of reporting) of the total cumulative market supply.Housing Development, Completion, SalePerformance by CommuneAmong the six communes of Ruessei Kaev district, Chrang Chamreh Ti Muoy had 1,398 units completed, 247 units nearing completion, and 899 others still under construction. Overall, the commune achieved up to 94 percent of all units sold, outperforming the other communes within the district.Chrang Chamreh Ti Pir fetched a relatively small market share, having only 465 units in total supply, with 94 units totally complete, 148 units nearing completion and 223 others under construction. About 51 percent of the housing units there had been sold out.Kilomaetr Lekh Prammuoy held a relatively large market stake within the district, having a total supply of 3,085 units, with 1,375 units totally complete, 593 units nearing completion, and 1,072 others under construction. About 72 percent of the total housing supply there had been sold.Ruessei Kaev commune took the largest share within the district, having up to 3,574 units of the total supply, with 2,537 units totally complete, 291 units nearing completion, and 733 others under construction. About 80 percent of the total housing supply had been sold out. Svay Pak had a total of 597 units supplied, without yet any units complete by then, while 303 nearing completion, and 294 others under construction. About 78 percent of all the units there had been sold out. Last, Tuol Sangkae held a relatively large market stake, having a total market supply of 2,004 units, with 1,850 units totally complete, 28 units nearing completion, and 111 others still under construction. Above all, all of the units there had been sold at presale stage.Supply and Completion by YearCluster housing market has been around in Ruessei Kaev district since 2003, with first construction launch of about 739 units by Borey Rith in Tuol Sangkae, a commune immediately adjacent to Boeng Kak Ti Muoy of Tuol Kouk district to the southwest and Srah Chak of Doun Penh district to the south.Afterwards the construction work of cluster landed housing started gradually until 2007, when the supply jumped, bringing 1,275 of new off-plan units into the market. But global economic downturn slowed down the speed of housing demand, yet most of landed housing construction work was not delayed at the time. Until 2012, the economy started to show sign of recovery, and housing market supply across the capital started to pick up again, but this time it was stronger than it used to be during the preceding nine years.In 2012, site work began for the construction of 2,218 units, and in 2013 some additional construction work was launched, bringing 1,859 of new off-plan units into the market, with a few hundred housing units completed each year then.Despite the decline of new supply within the district, construction completion started to grow gradually; and 2016 was the most remarkable year, when 2,827 housing units of all types were totally completed. Further, by 2017, it is projected based on the data obtained from developers that an additional figure of 3,383 units will be finished and ready for buyers to move in.Nevertheless, market supply within the district has started to show sign of slowing down because 2016 and 2017 have seen no sign of new housing supply, even though it is too early to predict.Chrang Chamreh Ti MuoyChrang Chamreh Ti Muoy saw the first housing development project in 2012, when construction work started for 546 units of the first out of 5 phases of Borey Vimean Phnom Penh by Ly Hour Development Co., Ltd. In 2013, two other housing projects were launched construction work for 1,321 units, the majority of which were shared by Borey Peng Huoth (the Star Premier).The trend of the new supply slowed down following those preceding years, except for housing completion which started to jump high in 2015 (with 892 units totally complete),  and onto 2017 it is projected that a figure of 1,146 units will be finished that year.Kilomaetr Lekh Prammuoy Kilomaetr Lekh Prammuoy hosted up to 25 percent, or 3,085 of the total cumulative housing units supplied into the market, within Ruessei Kaev district.The market supply first started in 2006, with construction work begun for 189 units and finished in 2007. During the economic crisis, there was no further housing supply until 2012, when 1,207 units were added to the housing stock and construction work. Then the market went quiet for a few years until the new supply hit the market again in 2015. That year, construction work started for 1,317 units, offering new presale supply into the market. 2016 saw a small number of new entries to the construction work, yet the figure of housing project completion hopped on the horizon,  having totally finished off 1,465 units for buyers to move in.Ruessei Kaev (Commune)Ruessei Kaev commune fetched the largest housing market share of the district. The supply began to exist in 2005 from a small base. In 2007, a few projects with 504 units, including one in the area so-called Stad Chas (meaning Old Stadium), were added to the housing stock and launched for construction work. Despite in a small number, the supply went steadily almost every year since then, but the completion was remarkable in 2009 (647 units finished), 2014 (651 units finished), and 2016 (821 units finished). Further, based on the data obtained from the developers, 2017 is projected to see another completion of 654 units.Tuol SangkaeTuol Sangkae took a share of 16 percent of the cluster landed housing market in Ruessei Kaev district. The supply grew strongly but abruptly over the course of the last decade, though all construction projects there were able to be completed before and during the 2008-global economic downturn. And it seemed there was no major entry into the market since 2009 until 2015, when 139 units were launched and slated to be finished in 2016.Market Supply by Housing TypesCumulative Market SupplyAcross Ruessei Kaev district, the very small percentage of cluster landed housing supply was classified as the purpose-built ‘shophouses’, accounting for only 2.5 percent (290 units), as recorded cumulatively from 2003 to 2016. On the other hand, purpose-built residential link-houses took the largest market share, accounting for 84.8 percent (9,711 units) of the total market supply.Another housing type classified as ‘semi-detached houses’ held the market stake of 9.5 percent (1,083 units), while ‘single detached houses’ accounted for only 3.2 percent (369 units).Supply Launched in 2016New housing market supply launched in 2016 across Ruessei Kaev district was collectively 1,174 units, but the majority of them were link-houses, accounting for 96.7 percent (1,135 units).Shophouses accounted for 1.1 percent (13 units) of the new launches, while semi-detached houses accounted for 2.2 percent (26 units) the same year.Houses were listed on average at US$195,700 per units and averagely sold at US$178,800 per units, while single-detached houses were listed on average at US$643,000 and averagely sold at US$595,500 per units.Market Share by Price RangeCluster landed housing market in Ruessei Kaev district offered different sets of prices, depending on location, housing type, and the quality.Practically, there has not been housing supply with pricing about or less than US$25,000 per unit, but those with prices above and up to US$50,000 per unit shared 9.7 percent of the total current supply.Housing units with prices between more than US$50,000 to US$100,000 per unit accounted for 30.6 percent. And above all, it was up to 41.9 percent of the total housing market supply with pricing between more than US$100,000 to US$200,000 per unit.Housing units with prices between above US$200,000 to US$300,000 per unit accounted for 6.5 percent, and those with prices above US$300,000 to US$500,000 per units as combined accounted for 4.8 percent.However, there was still a market for housing units with prices of more than US$500,000 to US$1,800,000 per units, as combined accounting for 6.5 percent of the total market share.Housing SizeSizes of housing units vary across the district, depending on housing types and development schemes of the housing  projects.However, based on common market supply within the district of Ruessei Kaev, average size of land for shophouses was between 90 sq.m and 160 sqm, while cover-up area (built-up) of between 60 sqm and 110 sqm. The total building area (also GBA) could range from 160 sqm to 200 sqm.Linkhouses are usually designed for residential purposes, and thus the sizes are usually smaller than shophouses. In practice, average land size for linkhouses was between 80 sqm and 180 sqm, with average cover-up area ranging from 60 sqm to 80 sqm and average GBA of 100 sqm to 180 sqm.Semi-detached houses are designed with wider width but relative depth (or length) if compared to linkhouses. For average land size, semi-detached houses were usually spared with 160 sqm to 300 sqm, depending on sub-types and specific designs of the houses. Nevertheless, the built-up area was between 80 sqm and 150 sqm, while the total building area could range from 230 sqm to 300 sqm.Above all, single-detached houses are larger and more expensive than another other housing types in the market. Average land size reserved for a single detached house could range from 350 sqm to 780 sqm, while its over-up area could be between 160 sqm and 280 sqm. And GBA could range from 470 sqm to 600 sqm.Housing Market OutlookCluster landed housing market in Ruessei Kaev district grew strongly within the past-five-year period, with average launches of new 1,600 units into the market every year between 2012 and 2016, while about 2,800 and 3,380 units will be finished by 2016 and 2017, respectively.Both sales and construction work performed well recently, with current completion of 86 percent compared all units launched for construction so far. Achieved sales rate was up to 83 percent, meaning only 17 percent still on the market inventory. Despite a slight slowdown since late 2015, market absorption was relatively good within recent years, and this trend still continues to grow well in the next following year, given the overall favorable performance of cluster landed housing market within the district. The continued growth was thanks to housing market stimuli (such as minimal or zero down payment schemes and other very flexible installment options, to name a few) initiated by developers across the capital’s housing market in the midst of 2016 has also helped bolster the demand and keep the market growth from slowing down. Regarding take-up rate, the majority of the finished housing units are occupied, though relocation of residents to take up the finished housing projects may take some time, about 3 to 6 years on average. Still, speculative purchases of housing units in primary market will still continue to leave some of finished housing units empty due to slower secondary demand than the rate of housing completion, especially in 2016 and onto 2017.This research report was a production of  V Trust Appraisal.Find  property in Khan Ruessei Kaev on Realestate.com.kh!

Collaborations can be powerful tools for social change. Axis Residences recognized this potential and partnered with both the CIA First International School and Cambodia Care Centre in order to fulfill a collective calling towards social responsibility.Creativity with Purpose:The collaboration called upon the utilization of talent, skills, and passion of students from the CIA First International School to create meaningful art pieces for Axis Residences’ theme of going green. This is also in line with the company’s vision and campaign of the company to do more environment-friendly developments. It was also a means to educate and inspire the newer generation to take care of the earth.The top ten – out of around a thousand – artworks were chosen via online voting to be included in the auction organized by the developers and the school last November 5th of 2016.The auction was attended by students, school officials, executives of the Axis Residences, and a few other special guests including Guest of Honor Oknha Tay Heang Ly. There was also a special presentation by the children from the Cambodia Care Centre. The top prize winner also got a 3D2N trip to Singapore.Creativity for a Cause:This initiative by The Axis Residences was also for the benefit of the Cambodia Care Centre. The Cambodia Care Centre is a non profit Christian organization that was started in May 2011. It aims to positively affect the less-privileged youth and break them out of the bondage of poverty through the provision of basic education. It has been part of several community outreaches, feeding programs, sports activities and health programs. 100% of the proceeds garnered from the auction went towards programs underway by the organization. On top of this, Axis Residences also donated 10 tonnes of rice to the poor and needy of Khan Sen Sok district during the water festival period.Creativity at the Core:Axis Residences is being developed by Spring CJW Development Pte. Ltd. This developer is not a stranger to the concept of creativity. They list it as one of their company values along with timeliness and worthiness. The Axis Residences follows that ideology. It has a contemporary design that uses both modern and eco-friendly features for an elegant and quality finish. The developers have described this project as an “oasis of tranquility” and being an Eden-like haven amidst the busy city life surrounding it.Learn more about the Axis Residences project today!

Given that many local population’s lack the initial capital to invest in new homes, albeit condo, borey or other, home loans are underpinning the market currently.The IMF have stated recently that buyers across the Cambodian market are taking on more and more credit to buy property, and this is increasing year on year. In fact, the IMF state that loan-to-value ratios have risen to 70-80% in 2016.Owners that have leveraged finance in order to buy properties are generally the first sellers after the market has reached its peak, accentuating risks of a “bubble” bursting in the market.This situation can be amplified when interest rates on those mortgages rise, and rental yields for the completed property drop below prior expectations. Mortgagees reselling their condo units can then add the oversupply, creating a dangerous snowball effect for the market. As debt levels continue to rise, the risks of an eventual credit crash are becoming more of a concern in Cambodia.When credit loans increase, the credit in the market increases, then there’s a cash flow for the citizens and the economy. It is good for citizens when they place this cash into targeted businesses by creating a business with a clear plan. It’s also useful for business expansion, etc. These activities create more jobs for people.Yet there are downsides…Hoem Seiha, of VTrust noted that another credit risk is growing in the 2016 market as developers take financing into their own hands in efforts to stimulate sales growth in the lower end of the market, and particularly the domestic market: “For the recent market stimulus, developers have now offered another very flexible option for home and plot land buyers by applying a zero down payment scheme to drive their sales, and, in the short run, the practice looks good and helpful for the overall market. Yet, while banks are very careful when releasing mortgage loans to buyers, most developers have not conducted enough due diligence on their clients before releasing installment contracts, to avoid future defaults. If not well managed, this could, in the medium-to-long term, create over-indebtedness among unqualified buyers and therefore potentially lead to a mortgage crash. Regulators should study this seriously.”Another potential risk for the Cambodia finance market is the 2018 general election.During election periods in Cambodia there have been a tradition of “capital flight,” whereby multinational companies, dual citizens and affluent locals remove their capital from Cambodian banks, and instead store their wealth offshore. This is seen as a safeguard during times of political uncertainty. Given the correlation between the upcoming election, and the completion and release of a larger proportion of the incoming condo supply, these two factors may amplify the effects of each.Mey Kalyan, senior advisor to the Supreme National Economic Council, noted that general credit across the Kingdom has increased around 30%. The Supreme National Economic Council are aware of the risks this raises, especially in the real estate market. As according to a recent report from the Phnom Penh Post, Mey Kaylan says that, “credit is like fat in our body. We need the fat to function, but we also don’t need too much of it.”In light of these concerns, the IMF have stressed the need for Cambodia lenders to place higher capital requirements on any real estate financing, weigh risks for banks in regards to real estate lending, and ensure that property developers are “under strict regulatory and supervisory control”.Yin Leangkong – editor in chief of the magazine Property View, and presenter and editor of real estate and economics at BTV - notes in a recent interview that, “loan providing institutions should keep lending to people, but there should be a limitation and conditional loans must be specific and clear. When providing loan to people, you have to make sure it will contribute to help for a better standard of living for the customers. For a home loan, it may be suitable with the middle-class bracket. A term loan will provide both affordable standard of living to people. It also profits banks or microfinance institutions.”These recommendations appear to be having an influence in the market as we enter the second half of 2016. Regulatory control of developers has seen a rise in recent months, as policy makers continue to clarify and develop licensing procedures from new development projects. Meanwhile, private lending institutions appear to be tightening lending on real estate, especially off-plan properties.Check out what 5 industry experts have to say about the state of the Cambodia real estate market!

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:

You have our deepest gratitude for supporting the launch party of the second edition of the Cambodia Real Estate Magazine on the 22nd of October at EPIC club of Phnom Penh!The Event & Magazine by the Numbers:The Cambodia Real Estate magazine party was a roaring success which was experienced by over 650 guests from over 274 leading local and international companies. Including 51 real estate agencies, 37 property developers, 21 banks and finance companies, 16 news and media platforms, 60 architect, construction and related businesses, 7 law firms, and 14 chambers, embassy and ministry related bodies! Making up the huge crowd were 112 General and Senior Managers, 30 CEO’s, 33 Directors, 126 real estate agents, 23 founders, 345 general employees, and 2 excellencies - including our esteemed Guest of Honour: H.E. Mr. Mey Vann, Director General of Financial Industry at the Ministry of Economy and Finance. The party was made possible by 8 very supportive sponsors: Imperial Crown, Ford, The Piano Shop, Cellcard, Kilat Events, E-Design Photography, Image Printing and, our lucky draw sponsor, BOSE. We are extremely proud to have increased our print run for the October edition of the magazine to over 15,000 copies, which are available FOR FREE at over 800 highly targeted and relevant pick up points countrywide. Pickup points include leading developer showrooms, real estate agencies, business lounges, business centers, chambers of commerce, embassies, cafes, restaurants and more! Online distribution of the magazine - through our website, email database and social media platforms - reaches over 100,000+ local and international readers.The Event in pictures:Check out the full photo album for the event. Please like and share!Cambodia Real Estate Volume III – Secure your spot before it’s too late!We are excited to announce that the third edition of The Cambodia Real Estate Magazine is due for release in January 2017. The content for the next magazine is already progressing rapidly and our existing advertising partners are continuing their support for Issue 3.If you would like to advertise in Issue 3 we strongly recommend booking your spot now as we already have limited availability for ad and advertorial space. Please call or email Jonathan Baxter at jonathan.baxter@realestate.com.kh or on +855 (0) 10 561 502Once again, thank you everyone for the support! And we look forward to hosting you all at the next Realestate.com.kh party in January 2017 - sure to be another event not to be missed...Event sponsorship opportunities for the next party in January 2017 are also available - but likewise filling up fast. If you are interested to sponsor our next event and promote your brand in front of the elite of the Cambodian real estate industry please call or email Jonathan Baxter at jonathan.baxter@realestate.com.kh or on +855 (0) 10 561 502Click here to download your free copy!

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!

Sihanoukville is increasingly grabbing the attention of both locals and tourists as a seaside getaway. But it’s more than just the beautiful beaches and its magnificent views that keeps drawing people in. Economic progress in the market is also enhancing Sihanoukville’s appeal for investors needing an alternate destination for capital injections outside of the nation’s capital city, Phnom Penh - especially given the growing opinion that this marketplace is becoming saturated. Sihanoukville development is reaching milestone after milestone, and looks set to become the country's next economic star.Sihanoukville Development Milestones: InfrastructureEfforts are being concentrated into building better infrastructure in Preah Sihanouk. China signed an agreement for the construction of three bridge and road projects. One of the roads that will be built through this partnership is the highway that will connect Phnom Penh to Sihanoukville. It will be called national Highway 11 and will cost an estimated $1.9 billion.The province also has the Sihanoukville International Airport is also one of the largest airport in the country and may continue to be the case for the next decade and a half. This is according to Mr. Sin Chansereyvutha – Director of the State Secretariat of Civil Aviation.The Royal Railways also made their contribution in the sector through the revival of its train services. The route connects Sihanoukville to Kampot, Kep, and Phnom Penh.Sihanoukville Development Milestones: CondominiumsPrime properties are now making their way into the province due to an influx in the area’s tourist arrivals. It is now considered an alternative condo hub by some experts as a result of this.And one of the incoming projects in Sihanoukville will be  D’Seaview Luxury Condominium by Camhomes. It will be located an hour away from Sokha Beach. The development will be a mix of both residential and commercial units. It will also have features and amenities like a swimming pool, a gym, lush gardens, 24-hour security, and a view of the ocean.Other upcoming condominium and mixed use projects include the Blue Bay and Royal Bayview. The Royal Bayview is expected to reach completion by the end of 2019.Sihanoukville Development Milestones: Special Economic ZonesThe Sihanoukville Special Economic Zone is one of the economic drivers of the province and the country. It’s been tagged as the model of the Chinese-proposed “One Belt One Road” initiative which aims to create the 21st century maritime silk road. This brought about the introduction of Sihanoukville and Wuxi as sister cities back in December of 2008.  The Director of the Board of the SSEZ – Chen Jiangang – says of the SSEZ, that “The first phase of our project has finished. We have built a 5-square-kilometer area, equipped with sound infrastructure, including roads, water and power supplies, as well as telecommunication facilities. Our industrial park meets international standards in terms of livability, production capacity, and environment. It is also the biggest industrial park in Cambodia. The park has 102 companies and provided jobs to 16 thousand local people.”Sihanoukville Development Milestones: Smart CitySihanoukville will also be the setting of a “Smart City”. The Land Management Minister Chea Sophara went to Seoul in South Korea last August to sign a memorandum of understanding with his South Korean counterpart. The project will be in partnership with South Korea. A Ministry official Cheam Sophal Makara mentions that the development will center on “building good infrastructure, using modern technology and eco-friendly methods.”Sihanoukville Development Milestones: Deep Sea PortThe deep sea port hasn’t always been smooth sailing. This is something officials aim to address. Port officials had recently gone into its 37th ASEAN ports Association meeting to discuss methods and systems that can be put into place to improve maritime trade growth.CEO of the Sihanoukville Autonomous Port – Lou Kim Chhun – explains, “We want to simplify trade procedures across all ASEAN ports and improve the efficiency of shipping management systems.”He also mentions using more modern mechanisms to facilitate port transactions. He says, “Cambodian port terminals need to start using electronic data interchanges and improve their facilities to reduce operational inefficiencies so that the country can attract more vessels to its ports.”The International shipping port in Sihanoukville has experienced revenue growth despite setbacks though. A growth of 10 percent to 15 percent per annum was reported in 2015 alone.There is more to Sihanoukville’s beauty that meets the eye. A lot of growth has been experienced and a lot more growth is expected for the city. How this humble beach town will transform into a modern paradise is truly one that many will be anticipating.Looking for real estate for rent in Sihanoukville  or real estate for sale in Sihanoukville? or Read the The Ultimate Guide To Sihanoukville by 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!