The Phnom Penh Municipality has recently requested more city buses from the Chinese and Japanese' governments in order to expand the existing public transport bus system to 10 routes throughout Phnom Penh city, according to announcements to the press from City Hall spokesman, Long Dimanche.Currently, according to Long Dimanche, there are only 50 buses running on three routes in Phnom Penh. He went on to say that Phnom Penh Municipality will ask China to donate 100 new buses to increase the bus service system, and for the Japanese government to bring 180. Yet, it is currently unclear how many buses will be provided by each country, and whether these buses will be new or used - however, already Japan has been said to have agreed to the formal requests. City Hall hopes that opening more bus routes across Phnom Penh, it should reduce congestion along major streets.  Read another article regarding congestion in downtown Phnom Penh here.

Mr Sam Yang, CEO of Eastland Development HK Co. Ltd., has made waves in the grand scale Cambodian development market in recent times announcing a list of major Phnom Penh based projects. Post Property attended a recent press release where the CEO accepted questions from various local news and TV reporters regarding his wholly positive outlook on the expansion of the Cambodian real estate sphere. While Yang is a relatively young developer on the Cambodian scene, just 30 years old, his experience speaks for itself. Yang studied in both Canada and China, his two homelands, before beginning his professional career in China, holding roles such as GM of Fuying Construction Company; GM of Citykey Development Co., Ltd; Holding Vice President of YueTai Holding; CEO of XingYuan Mining – and, now, in his first Cambodian real estate venture, CEO of Eastland Development HK. See Eastland development properties for sale on realestate.com.kh todayCan you explain Eastland’s latest project? The first Eastland Development project to reach completion will be the “East One International Apartments” project – a condo development which is already 70% sold and under construction in Duan Penh. As we entered the Cambodian real estate market just 3 years ago, we used this first, smaller project to test the market. Based on the success of East One, we are now launching “East Commercial Center (ECC)” along Norodom Boulevard, near the Malaysian Embassy. Inquire about East One Apartments today, on realestate.com.khWhy not start another condo project, if East One was so successful? We decided to build an office building as our follow up project because, based on our research within the local market, we believe that the number one real estate need within Phnom Penh moving into the future is a lack of affordable, sole-purposed office space. There are a growing number of talented local entrepreneurs and small business owners who need a place for their businesses to take flight, without driving them bankrupt. The East Commercial Centre (ECC) will be completed in late 2017 and provide the market with 38 floors of pure office space, divided into small and affordable units, with low management fees, and common areas with all necessary business amenities. Inquire about the East Commercial Centre (ECC) on realestate.com.kh today We are also intimately aware that Phnom Penh has a growing lack of parking space. That’s why the ECC project will include a total of 680 car parks, over 6 floors. And in fact, the following stage of this development will be the East View Residence project, which will include four 38-floor high residential buildings. This will mark our second Cambodian condominium project, for Eastland Development, and will be on a much larger scale than East One. It will have a total of 768 units, and sufficient parking space to accommodate all residents. This will also provide living space for international and local business people working within the ECC tower, meaning they will not have to commute to their place of work. Inquire about the East View Residence project on realestate.com.kh todayWhy did you choose B grade office space for ECC? The current office space market in Phnom Penh is unsuited to the growing demand. These types of start-up businesses are not interested in A-grade office space, as rental rates are too high, and instead now find themselves adapting villas or flat houses into office space. Meanwhile, International companies are increasingly interested in moving an office to Cambodia at low risk because investment incentives are some of the best in the region. Inquire about the East Commercial Centre (ECC) on realestate.com.kh todayAs a developer set to release around 1500 units onto the market in 2017-2018, are you concerned about the property market retracting as the next election approaches in 2018? I am optimistic about 2018. No market in the region is free from these political concerns. Keep in mind, there will also be elections in Myanmar and Thailand in the near future, under similar scrutiny. Three things are clear to me: Firstly, the next great international economic boom will happen within the ASEAN countries. Secondly, out of the ASEAN nations, Cambodia has demonstrated itself to be within the top 3 in regards to political stability. Meanwhile, thirdly, in Cambodia investors can still trust in the US dollar – this is unique. Why is Cambodia increasingly popular for FDI?Is there a real estate bubble on the way? Relative to other international real estate markets, so far Cambodia’s real estate market has only attracted smaller funds of investment. Generally, we are seeing 5-10 million dollar investments in real estate projects in Cambodia. The larger funds of 200-600 million are yet to consider Cambodia; however, it is only a matter of time before these types of speculators come. This means, the Cambodian market still has a lot of potential growth. By 2018, also, the Chinese plan to have a regional railway completed, effectively linking the Asian markets directly. Although supply is increasing quickly in the Cambodian property market, we should also see relative demand chasing as the region develops faster than ever. See Eastland development properties for sale on realestate.com.kh today

Local property developer, WorldBridge Land, Co. Ltd., and Singapore-based construction company, Strait Construction Group Pte, Ltd, last week announced a $100 million Memorandum of Understanding on affordable housing with the government.Singaporean developer HLH Group Ltd also announced its entry into the Cambodian property market with the launch of CamHomes in June of this year, a real estate agency under the company, Public Housing Development (Cambodia) Ltd.While at the birth of both of these recent ventures, government representatives have announced their goals of developing policy for constructing public housing for low-income and lower middle-income earners in Cambodia, there has been no indication as of yet that these two recent agreements with private companies reflect this policy directly.Yet, a Google search reveals that the terms ‘affordable housing’ and ‘public housing’ have been used synonymously by local and regional media to describe the very same projects.Per definition however, ‘public housing’ refers to a form of housing tenure in which the property is owned by a government authority.Supporting a lack of clarity surrounding the government’s direct ownership of new housing projects, at last week’s signing of the Memorandum of Understanding between the Government, WorldBridge and Strait Construction, Im Chunnlim, senior minister of the Ministry of Land Management, Urban Planning and Construction, reiterated that Cambodia’s government has drafted a policy on housing which indicates seven choices to solve housing issues, one of which shall be a collaboration with the private sector.Im added that in the draft policy, companies can give part of their housing to the government to sell to the middle class; the government can give a piece of land to a developer to build housing for the middle and lower class by requiring them to sign up for a long-term mortgage without interest; or the government can allow for infrastructure and social development in the case that the developers have a piece of land or enough capital to invest. But in return developers must give a certain area back to the government to use as housing for the middle and lower class.Yet despite this statement, there has been no public clarification as to whether any such direct terms were stipulated in last week’s MoU.Upon further email enquiry yesterday, WorldBridge chairman Oknha Sear Rithy told Post Property that his investment had already shaped into a construction plan saying there would be two townhouse projects in the southwest of Phnom Penh and they “should finish by the end of 2017”. The land, he added, was owned by the developer and not the government.While the investment volume of $100 million and the construction details are clear, the price of individual units, the amount of subsidies going into them and who will pay the subsidies is not, according to the Oknha, who added that these questions are currently being discussed.What also remains unclear is the mechanism, through which subsidies could be raised. An employee of WorldBridge mentioned to Post Property on the phone that taxation relieves on imported construction material could be a form of government subsidy that would pay for the discount on the original price per housing unit. In addition to that, construction permits could be granted to the developer for free. Whether these subsidy mechanisms – which were not brought up in senior minister Im’s rundown of subsidy solutions – would suffice for subsidies in housing units, Oknha Rithy said he could not comment until “after our team finalised it”.Other than knowing how much a housing unit could cost and how it could be subsidised, it would be important to decide which people in need would benefit from the programme and if the administration to decide would be in place.To that the Oknha said: “Next year we will start the first project. While the scheme of subsidies is still in discussion, I hope to have concrete information by the end of this year.”Considering all the uncertainties revolving around the MoU, a successful partnership between the private sector and government to build public housing seems up in the air.If the government does not have the means to pull their weight in the scheme, WorldBridge could at least complete the project and see the housing units without subsidies, according to Oknha Rithy.“Yes, we can stand alone but I am sure the government is supporting us and will cooperate with us,” he told Post Property yesterday.On Saturday September 26, Deputy Prime Minister Sar Kheng, spoke at the launch of the CamHomes showroom. He called CamHomes D’Seaview development in Sihanoukville a step in the right direction to home ownership, saying, “[In the] Cambodia context, a supply of contemporary housing to accommodate growing middle income populations is still one of the major developmental challenges facing the Royal Government of Cambodia.”He went on to say that CamHomes was said to fall in line with the National Public Housing policy currently in the process of development by the Ministry of Land Management, Urban Planning and Construction – a plan which he expects to see the results of in the next few years.While CamHomes’ approach may be in line with a policy that may take years to materialise, one has to note that CamHomes is a developer realising its project with private sector funds.Deputy Prime Minister Sar Kheng also noted at the CamHomes launch that while the construction and property sector has substantially relied on the private sector for investment projects, the government has been actively promoting an investment climate conducive to the growth of the market.Dr Peng Hong Socheat Khemro, general director of the Ministry’s Housing Department for the Ministry of Land Management, Urban Planning and Construction, officially spoke with Post Property in May 2015 regarding the planned public housing policy.When asked about the progress of this strategy in May, Dr Peng Hong Socheat Khemro said that “Our first job is to develop the mechanism. Our second job is to educate national, provincial and commune-level government officials about what we are trying to do. We will move on to the construction trial stage only when we have the mechanism and the ability, which will possibly begin in 2017 or 2018.”Thus, affordable housing appears to remain the initiative of the private sector in Cambodia.This article was a co-production of Realestate.com.kh and The Phnom Penh Phost, Post PropertyIf you want more information and updates, subscribe to the mailing list now or check out the news section of Realestate.com!

For all you happy home bodies out there, check out this funky Japanese invention - the all day bed! Your bed, sofa and table, thrown together in one super soft piece of furniture. Stay at home in bed all day!But, maybe not perfect for Cambodian home bodies - with an electric heater underneath the whole unit, and a luxurously heavy blanket thrown on top, keeping you nice and toasty all day long.Read more of the latest and greatest real estate news right here on Realestate.com.kh!

Kim Heang, owner and director of Khmer Real Estate became president of the CVEA (Cambodian Valuers and Estate Agent Association) a month ago, scoring 18 of 49 votes. Announcing the time for talking was over and it was time to act he has stirred up the CVEA. He pushed through votes on service fees that some members complained about and two vice presidents resigned around his inauguration. They have been replaced by Kim’s private sector competitors. Each of them has a specific target sector to win over for CVEA, namely condos, boreys, embassies and banks. Kim claims the entire voter base of 49 is behind him instead of having cliques that block each other. A CVEA founding member, he is determined to evoke change and ‘bring CVEA onto its next level of professionalism’. Post Property met Kim to follow up on his promises of unity and education, his difficult inheritance and his vision for Cambodia’s real estate market of the future. With your predecessor Sok Bun being in jail due to a scandal of a violent outburst do you feel that you are accepting a difficult inheritance? How has the association suffered from this blow and what are you going to do to make it better? Some people say he became the president at the wrong time, and some people just see the damage to the reputation caused by him. We have to accept that he has done positive things too; at least he supported CVEA with $50,000. We still have some money from him. Maybe he does not have a good relationship with the local media, but all media are my friends. If he didn’t have to leave office I could not have become president. Now the members may think it’s good to have a president who is not rich or an Oknha. What are your goals for the presidency? I will be president for one year and two months, so I know if I want CVEA to run smoothly, it needs money. Without money, you cannot do anything in Cambodia. After checking with my accountant, I found out that every year we need around $25,000 to $30,000 for operation. So my first priority is to get funds for CVEA. As CVEA is a non-profit organisation, we will die without sponsors. But we have been around since 2008 and real estate organisations want to be a part of us. We have talked to some developers and they are happy to fund us. My second priority is to build a united team. As president, I have the right to select the vice presidents to support me. Instead of choosing my friends to sit for the vice presidents, I asked my competitors in the election campaign to be my vice presidents. I got 18 votes out of 49 votes in the election. If I asked my friends to become the vice presidents, there would be a problem for CVEA. As my competitors have their own supporters, if I ask them to become my vice president, their supporters will also come to me. Now I can get all the supporters and we are united. Then we have to do some promotion and bring our members to our business partners. Under the lead of our vice presidents, our members have met all the foreign embassies, talked to some bank directors and visited many condominium and borey projects. This is especially important to small companies as they do not have many of these opportunities. How are you going to improve the position of smaller real estate companies as you promised when you went into office? Banks are willing to talk to some large real estate companies, but banks do not know who the small company is. That happens a lot, in property. Five companies account for 70 per cent of the market. Members of CVEA, no matter which company they are from, can get one month of commission. Others only offer half month’s commission to small companies. For small companies, if they are alone, they cannot get access to finance. But as a CVEA member, they can. Small companies have limited knowledge, a disadvantage. There is a need to educate the people. How are you going to tackle your pledge to develop a training centre? What are the standards you aim for? Some members suggest that CVEA provides training and does the training for profit. However, we already have some members working on this. If CVEA does the same that means CVEA is competing with its members. CVEA does not need profits, so we let our members provide the training. If these companies need our support to provide training, we are happy to do so. But we have to see what the curriculum is about and who the teachers are as what I have told to those companies who want to cooperate with us. However, until now no one has sent me the details or curriculum of their training but we will give them some time first and wait until the end of this year. Otherwise CVEA will do the trainings by finding partners from Singapore and Malaysia. Only for the moment we should provide those regional real estate training standards, but in three to five years, CVEA needs to have international standards like from the UK or USA. How can you achieve this long-term goal when you are only president for one year and two months? We will see. Real estate schools are mainly there to recruit new, qualified agents – will you have a ‘war for talents’ among CVEA members? Would people in CVEA’s top positions not channel the best graduates into their own companies? My way is not pushing or stopping anyone. After all it’s a free economy and money goes first and companies have limited capacities to hire new agents. I don’t see an issue there. How do you define “value and fame”that you promised bringing to the CVEA? Our members are cheating on each other more than cooperating, so we have to work as a team. They are not cheating on the money but on the services. Sometimes some real estate agents just pretend to be a booker and go with other agents in order to add the other agent’s property to their portfolio. This confuses the real estate industry as people cannot tell who the booker is and who the real estate agent is. So we have introduced a consultation fee to stop agents who pretend to be bookers. If someone wants to see a property, we will charge locals $5 and foreigners $10 per booking. It is a kind of internal regulation. I know not all people are going to follow, but as long as about 20 to 30 per cent of them do then people will start from now on as they need time to adopt the new strategy. This can also help screen out the fake clients as they will not pay the fee. What will be your focus of the AVA (ASEAN Valuers Association) congress in June next year? For the congress, we are supposed to have five countries from ASEAN to join. But some of our members worry that we do not have money or human resources, or that we do not know how to organise it. However, I have 10 years experience in teaching at university and I have travelled a lot. I have done real estate business for 10 years and joined a lot of congresses and events. So I know how to do it. By doing so, our country can gain a lot of international media coverage. We hope to promote not only real estate and construction but also tourism and our country to the world. Please give me some details about your cooperation with the government? How do you work together? You mentioned ‘transparency’ in an earlier interview. CVEA was founded in 2008 and it was under the Ministry of Finance until last year, but still officials want to control you. I was the one to say CVEA must separate from the ministry even before I became the president. When under the ministry, decisions were made so slowly. Time is money but officials did not care. Now we can work 10 times faster than before. Besides, there is no boss in the meeting. All members, whether you are a big or small company, are equal and have only one vote, and they have the same opportunity in meeting our business partners. In your pitch for presidency you said “I will gain the trust of the members and the general public and will set a goal for the organisation which I can achieve during my term as president”. Do you think it is difficult to gain the trust of the members and what are the issues and challenges? I’ve already gained the trust of them. I got my competitors to be my vice presidents and those three may become the next presidents. So they have to compete; they compete with each other but not with me. I came alone and I didn’t bring my people, so they trust me. I work for CVEA, but not for my own company or for the public. Many people in the CVEA worried when I became the president as they were afraid I will get my people in to take over. But all the staff I just kept the same. I said you stay where you are and I give you a five per cent increase in salary. There are four people – three the same as before and one new as there is more work. I am not coming here to sleep; I do a lot of work. Julius Thiemann: Phnom Penh Post, Post Property

In a joint collaboration project between three organisations, Building Trust International, Atelier COLE, and Habitat for Humanity Cambodia, an affordable housing design and implementation scheme has been created for low-income Cambodians looking to build their first home. The result, aptly named the “Framework House”, is highly sustainable, affordable housing built from local bamboo and wood, and it costs the end buyer just US$2,500 to build. The pilot Framework House project was originally conceived by the three aid organisations to serve Cambodian families affected by HIV/AIDS in particular, and those generally in poor health and facing vulnerable circumstances. A total of nine homes were built for this original purpose in the pilot phase of the affordable housing operation this year and last. Framework House is affordable housing being built primarily from wood and bamboo, and comes in several different versions, as per the end users needs. The family receiving the new home has the option to decide what kind of layout they need, and examples of additional options include homes suitable for keeping livestock in, separate from the residential dwelling area, and home designs which can concurrently double as small food stores. The two-story stilt houses measure a total of 80 square meters in area, and feature recycled material which is used as cheap insulation. On the ground floor of each Framework House, earth bags, plastic bottles, and clay bricks are used for insulation purposes, while first-floor insulation includes wattle and daub, split bamboo stems, and woven bamboo mats. The sleeping area is located on the first floor of the house in order to protect families against flash-floods, a common occurrence and danger in many regions of Cambodia. These cheap homes are basic indeed, but they are also highly innovative - designed with Cambodia’s unique environment in mind. Internally operable shutters help encourage air flow, cooling and encouraging passive ventilation throughout the house. Further, large, overhanging roofs are integrated into the design to enable each family their own rainwater collection source. The rainwater that is collected from the roof then runs into a gutter and lands in a 1000 liter catchment tank for drinking, and a following 2000 liter tank suitable for washing and cooking. In addition, each home comes equipped with a small solar panel that provides sufficient energy to charge a mobile phone or power a water pump, and within the house a solar powered light provides safe and sustainable illumination inside. And, to keep the housing economy benefits within the community, wherever possible, local builders and local materials are used to make the houses. Building Trust International hopes to bring the affordable housing scheme to more low-income people now that the design and testing phase is complete, and is also in the process of developing another, higher-density affordable housing design for urban areas. Read more of the latest and greatest real estate news right here on realestate.com.kh

Chamkarmon district has surely been seeing a continuous rise of land prices year after year, BKK, Toul Tumpung and surrounding areas proving to be a haven for foreigners and very wealthy Khmer. But, according to a recent report and commentary from experts within the industry, lack of infrastructure capacity, and trends among locals moving to the city’s outer reaches, will eventually slow Chamkarmon development growth.According to a report from the VTRUST Journal of Real Estate released on October 26 this year, Phnom Penh’s land prices have risen by approximately 10 per cent year after year. In Chamkarmon this climb has been the most extreme. In Chamkarmon district, especially BKK, sub streets cost around $2,000 to $3,500 per square metre, and land along major streets costs about $4,000 to $6,000 per square metre.With property demand continuing to grow within the Chamkarmon district, specifically within Boeng Keng Kang, Tuol Tumpung, Tuol Svay Prey and Oulampik in the first half of 2015, 20 new developments worth over $3.2 billion have been approved to start construction within the Chamkarmon district. These new developments are expected to reach an estimated value of $3.6 billion this year. From 2011 to 2014, according to the report, developments were valued up to only $2.2 billion each year.However, according to Hoem Seiha in a recent Phnom Penh Post report, the director of research for VTrust Appraisal Co., Ltd., eventually this lack of infrastructure will cause land prices to stabilize in the longer term.“With 20 per cent car ownership per household in the city and the ever-increasing rate of the white collar class who commute from different areas to downtown Phnom Penh, the lack of adequate parking solutions will be the daunting challenge for business communities in the CBD,” he said in a recent interview.As a result of this, the outskirts of Phnom Penh will cause future competition with the Chamkarmon district as Khmers move away from the congested inner city. Northwestern Phnom Penh is seeing massive growth, as is Northern Phnom Penh, and also land around the International Airport.As outer suburbs of  Phnom Penh gain stronger infrastructure and pools of private real estate investment funding, such as Aeon Mall 2, Chip Mong Land and New World Sen Sok in Phnom Penh Thmey, Camko City in Russey Keo and Grand Phnom Penh in Chrang Chamreh, the limitation of new development space in the Chamkarmon district will have to ease demand. The focus of the city will likely shift too, as commercial and retail spaces also continue to push outside of Chamkarmon and the CBD.

A developer in Melbourne, Australia, who has built a 72-level tower in the central city, has failed to build the underground car parking promised in the original development plans. [caption id="attachment_79012" align="aligncenter" width="300"] Illustration: Matt Golding[/caption] The developer, the Brady Group, did not provide two of the three levels of underground car parking originally promised, causing the Melbourne City Council  to now consider what enforcement action it can take against the developer.Norman Fay, Brady Group spokesman, did not dispute the developer failure to provide the promised car parking levels when challenged. Mr Fay said an application to retroactively alter the development permit was now being considered by the planning department.Brady Group originally had obtained a 2009 developer permit off planning minister Justin Madden to build the tower, with just one level of underground parking, but later got an updated permit off Matthew Guy to proceed with three levels of underground parking. It is not clear who failed to check if the  building adhered to the updated permit but, regardless, the developer is in breach of their permit.Read more of the latest and greatest real estate news right here on realestate.com.kh

On the eve of Halloween, Realestate.com.kh has taken a quick look at the top 3 most haunted houses in the Kingdom!#3:Famously on the market for sale in 2013 in Siem Reap, this property attracted attention for all the wrong reasons. Let’s just say the Open Home Showing was not a huge success....#2: The oh-so eery Independence Hotel in Sihanoukville was put on the world stage when a travelling poltergeist proved locals were correct when they deemed it haunted!#1: Coming in at number 1,  immortalized in the Korean horror film, “R-Point”, this haunted palace known as the Bokor Hotel was built in the 1920’s and has frightened visitors ever since atop Bokor Mountain in Kampot - until it was eventually abandoned. Happy Halloween from Realestate.com.kh and we hope all your home’s stay ghost free...

North Park Condos, the latest addition to the renowned Northbridge Community, offer an oasis of pure tranquility located perfectly in the hottest investment region of Phnom Penh City. See the listing here.North Park Condos sit at the gateway to the city on the newly developed Street 2004 - just minutes to Phnom Penh International Airport, country clubs, golf courses, department stores, restaurants, educational facilities and, thanks to the recent overhauls of the road network in the area, quick access to the city center. Cambodia’s highest quality learning environment Northbridge International School is located at this site. It offers a fully accredited western curriculum. This premier investment and development Company is recognized as the Country’s most dynamic and diversified business conglomerate. North Park Condominium buyers are guaranteed absolute security with their investment now and into the future. North Park Condos offer a balance of contemporary design and modern lifestyle amenities. It is set in a natural, open environment and located within the safe and serene grounds of Northbridge Community.  The world class facilities include a resort sized swimming pool, a children’s pool, modern gymnasium, an outdoor BBQ area and a restaurant. Inquire about North Park Condos today on Realestate.com.kh and find out more!Northbridge Community is a pristine, beautifully landscaped environment and the perfect place to raise a family.North Park Condos are an exclusive, low density, community of less than 250 Condominiums in 3 low-rise buildings, professionally constructed, and designed by renowned international architects. Large balconies and open plan living can be enjoyed in every unit and all residents possess impressive, unobstructed views across the luxurious swimming pool and tropical gardens. 24 hour security is guaranteed together with an international standard intercom system, providing controlled access to each building. 1-bedroom, 2-bedroom and 3-bedroom units are all available, with sizes ranging from 55 square meters to 245 square meters. Inquire today for more information about North Park Condos before these prime condos sell out!

Although the price of land in Phnom Penh has increased continuously until present, it has yet to have any detrimental effects on the flow of trade within the city. Quite the opposite; rising land prices have instilled confidence in the economy and encouraged foreign investors to come to Cambodia and invest their resources in the country, expanding trade and stimulating ongoing economic growth. While land prices are not on par with the region, this is not necessarily a bad thing, say experts. Chrek Sokny, CEO of Century 21 VTrust, said that in 2015 land prices had hardly climbed since the year prior, however, land prices in 2015 seem slightly higher when compared with 2013. He notes that, however, land prices in Phnom Penh vary depending on the region, with some suburbs seeing land prices increase up to 20 percent, whereas aggregate increases only reflect a 10 to 15 percent rise city-wide.      Sokny added, "The rise in land prices currently does not affect the flow of investment because the price of land in our country is a lot less expensive in comparison to neighboring countries." He continued, "The increases in the price of land of 10 to 20 percent are in line with the country’s economic growth, so it does not cause difficulty for new investors at the moment. But if it continues to rise in the next four to five years, that will hurt people who intend to invest in Cambodia."      Sorn Seap, spokesperson for the Cambodian Valuers and Estate Agents Association, raised a similar view to Sok Ny. Seap suggests that land prices are currently rising in line with economic growth because land prices generally rise or fall depending on the state of a nation’s economy.  It is clear that land in Phnom Penh has the highest value; Siem Reap and Sihanoukville follow respectively. He added that the current land price does not affect the flow of direct foreign investment into the Kingdom since there are still a huge number of investors coming into Cambodia seeking various opportunities - mostly from Japan, Korea, China, Singapore, Malaysia, Taiwan, China, Hong Kong and other regional counterparts. "Phnom Penh land price increases on average five to 15 percent per year. If it continues to rise, it will disturb the investment flows in the coming years because the market size of Cambodia, compared with the regional economy, is still small. Therefore, if the price of land were to become equal with regional prices, investors would naturally go to other countries where market opportunities are more profitable," added Seap. He continued, "I think we will be unlikely to see the impact of this phenomenon in the next five years, as the Cambodian economy is still not that robust. Investors both inside and outside the country only come in with a specific purpose and conduct detailed research before they start investing.” Sorn Seap concludes, "It's a real market now though, not an inflated one - because an inflated market would jam when there was a problem, and a real one wouldn’t." For instance, when the land price fell generally during the global financial recession in 2008, land prices along Mao Tse Tung Boulevard did not go down. In fact, in contrast, prices in this area continued to rise slowly. This is because transactions were still occurring along this street, marking it as a real and robust marketplace. “The increased price of real estate and land today is a good sign that we, as a national economy, are on the right track, and we won’t have a problem in the near future,” Seap confirmed. According to a study by World Trust Estate on the price of land in 12 Khans of Phnom Penh in the first quarter of 2015, Phnom Penh land prices have gone up between 10 and 30 percent depending on the area. The areas are defined by whether they contain commercial activities, residential property or industrial undertakings. Particularly, the commercial area along the main road in Khan Chamkarmorn this year has increased between $3,500 to $8,000/m2, compared to only $3,500 to $5,500 the previous year. Land in trade zones located along smaller roads have increased from $2,500 to $3,000/m2 last year, up to $2800 to $4,000/m2 this year. The same study found that the price of commercial land along streets in Khan Tuol Kork has increased from $3,000 to $5,000/m2 in 2014, to between $3,500 to $8,000/m2 this year. Commercial land along smaller roads have also increased to current prices of around $2,500 to $3,000/m2, compared to $1,800 to $4,000/m2 last year. Residential land has risen from $2,800 to $3,500 the year prior, to about $3,000 to $ 5,000/m2 currently. Soeng Bonna, CEO of Bonna Realty Group, said in a phone interview recently that land prices in Phnom Penh are divided into three zones: Zone 1 is the city centre, where land prices seem a little higher. Land price in the suburbs, Zone 2, are still moderate in terms of the size and strength of the economy, as well as incoming investment trends, but the price in these areas is lower compared to other countries’ examples. He said the average price of land in the city centre costs $3,000 to $5,000/m2, which is good, but lower than prices recorded in other countries. He notes that these prices reflect that it is harder to gain revenue and profit from an investment in land here in Cambodia. “Land prices in the neighboring countries are higher than ours, but they have bigger population densities, larger economies, and more investment. If we continue to think our land price is low and keep demanding an equal price, both domestic and foreign investors will lose their ability to invest in Cambodia," said Bonna. He added that prices of land in industrial zones, Zone 3, are ranging from $20 to $50/m2 which reflects the current lack of infrastructure in these areas. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today. https://realestatekh.activehosted.com/form/40

When Dan Kreis, founder, owner and operator of Kep Lodge Eco-Resort, arrived in Kep for the first time in 2005, he found only a handful of locally-owned guesthouses, less than 10 foreign residents, no supermarket, no electricity, no local bar, a coastline littered with little more than deserted villas and an extremely small turnover of tourist traffic.Ten years on, and now selling his business at a margin that would have seemed like a fantastic joke in 2005, Kreis has witnessed, and in many ways assisted, Kep in growing to be one of Cambodia’s most highly regarded tourism destinations and an attractive real estate market. Want to buy Kep Lodge? Check out the property listing on realestate.com.kh and inquire today!What Kreis also discovered back in 2005 was an unspoilt national park with mountains and lush forests reminiscent of his homeland Switzerland. So, having since given up on launching a resort in the already-saturated Thai market, and unsold on the tourism hot pot that is Sihanoukville, Kreis found his paradise in the empty hillsides of Kep.After 6 months of searching for the ideal property, Kreis settled on a block of hillside land backing onto the Kep National Park. Here, tranquility and a view of the ocean was assured at $5 per square meter, for a long term lease of 70 years.Locals, who prefered to live along the main artery road in 2005 where prices were around $60 per square meter, warned Kreis that his tourism venture was absurd - “no tourists will want to climb up the hill to find your property,” they said, and fears still remained among some that Khmer Rouge cadre may be hiding in the mountains ranges of Kep, the region known as one of the last remaining strongholds of the regime. Kreis ignored the local critics though, believing that, “the land was ideal, surely at some point the tourists would have to arrive.”Opening with a 6 bungalow operation in 2007, having built the lodge from scratch with a local team of builders, Kep Lodge became the first western owned and operated business in Kep, and the first eco-tourism venture. Water was well sourced and filtered for guests; as electricity was very limited, water was heated solely with gas; inputs, including the Swiss-inspired menu, were almost all locally sourced; and all outputs of the business were put to use in innovative and ecologically friendly ways. One of the most exhausting tasks at this stage, recalls 46 year old Kreis, was staff training. As Kep’s local education system was near non-existent, and the tourism and construction labour pool enjoyed by Phnom Penh entrepreneurs was impossible to tap from the coast, Kreis had to train his staff extensively, always starting at absolute basics. Tellingly, the first Khmer language Kreis learnt was, “If you don’t do it right first time, you do it again!” Want to buy Kep Lodge? Check out the property listing on realestate.com.kh and inquire today!But Kreis’s job was far from done when the bungalows were built. He still had to find a way to communicate to travellers that Kep was a worthy tourism destination. Unlike today, very few tourists were aware of Kep whatsoever: it wasn't in guidebooks and it wasn’t online, and even less were aware of Kreis’s eco-lodge hidden in overgrowth halfway up the hillside.  For this challenge, Kreis swiss background in web development and tourism marketing came in handy. By 2007, Kreis had finally managed to get the internet on site via a satellite connection to a Thai internet provider. At this stage, hotel booking sites were not well developed or used in Cambodia, so Kreis had to make his own. Kreis begun to create a series of websites in a variety of languages (French, English, German) to highlight the perks of Kep as an ecotourism destination, the most famous of which being visitkep.com and keplodge.com. He also engaged facebook and other social media to advertise his village paradise, and ultimately, draw customers to Kep Lodge. His plan worked, and Kep soon begun to emerge as another stopover in the Cambodian tour. Even in 2007, the lodge enjoyed 80 percent occupancy on average across the year. “Kep’s proximity to Phnom Penh has also made it attractive to expats living in the capital,” says Kreis. These holidayers, predominantly western, come for the boutique style and comfort of Kep Lodge’s bungalows, meanwhile, respecting Kreis’s desire to let guests live close to nature.In 2015, Kep Lodge has expanded to 13 boutique bungalows, occupied almost year round, with a tropical fruit orchard, elegant restaurant and clubhouse, an infinity salt-water hillside swimming pool, and a collection of the most hospitable hotel staff you are likely to find.  Now, the land that Kreis’ dream resort sits upon is valued at up to $90 per square meter, with land by the main road in Kep as high as $150-$200 per square meter.Looking across Kep Village today, the real estate market has expanded beyond comparison too. Around 90 guesthouses are now scattered across the sleepy beach town, with over 50 restaurants and around 200 permanent expat residents - a welcome change for Kreis, who found his early years in Kep isolated from the outside world.  “In fact,” notes Kreis, “Over Pchum Ben holiday this year we saw traffic jams in Kep Village, as holiday makers from across the country took to the coast in numbers like we have never seen before.”   Want to buy Kep Lodge? Check out the property listing on realestate.com.kh and inquire today!

The northern part of Phnom Penh has been attracting many residential and commercial developers – the reason being that the area is still relatively quiet and has no traffic congestion problems compared to its big city neighbor. The northern areas along National Road 6 are seeing fast development now that Chroy Chongvar II Bridge is available for public use. Many new projects are appearing, such as Chroy Chongvar City, Borey Peng Hout, Borey River Town, and Borey Mekong River. In addition, the government has been building Morodok Decho Stadium to host the ASIAN Games in 2023. Meanwhile, Ly Yong Phat, Director of the Ly Yong Phat Group, is planning to move a Safari Zone from Koh Kong to the area along National Road 6. ​A group of real estate experts said the property situation at the northern part of National Road 6 shows huge potential, and growth in residential projects appears to continue unabated.  ​ Kek Narin, an independent real estate analyst, said the area along National Road 6 has great potential for residential and commercial development, mainly because the area is sandwiched by rivers. Consequently, if there is a company investing in building and infrastructure along the river bank, it will become a great satellite city in the future. “Personally, I also want to move to this area because the area has fresh air and a good environment. If we travel along that road, we feel fresher and better than we do along National Road 4 - which is very noisy,” he said. “The area will be developed very fast because land is very attainable here.” The area has Prek Leab, Prek Ta Sek, and Backeng communes, and is altogether known as Chroy Chongvar district, Phnom Penh. Po Eavkong, General Manager of Asia Real Estate, said that after the National Road 6 expansion, provided by a loan from the Chinese government, the area from the Chroy Chongvar Bridge to Prek Ta Meak Bridge saw big changes, very quickly - such as Boreys, and small, medium, and even big businesses popping up along the road. Due to the favorable qualities and potential of the area, land prices are set to increase between 10 and 15 percent per annum, says Eavkong. Land prices along the National Road 6 from Chroy Chongvar Bridge to Borey Mekong Royal start from $400 to $800 per square meter, and sub road prices range from $100 to $150. Land that stretches from The Mekong Royal to Ly Yong Phat’s land ranges from $200 to $400 per square meter, and land from Ly Yong Phat’s land to Prek Ta Meak Bridge is priced from $100 to $200 per square meter, he said. “The area has become a residential-developed zone which is seeing huge interest from investors. It not only has residences, but also high-rise buildings,” Eavkong said. “If we talk about environment and fresh air, and infrastructure, they are all good enough, but I observe that one negative point is that the Phnom Penh municipality has not yet built the sewage system along the Road 6.” Mr. Ly Yong Phat said he planned to inject about $1 million into the area to build his safari zone, which he plans to move from Koh Kong to Phnom Penh. The Phnom Penh based safari is slated to open in early 2016. The size of the safari in Phnom Penh is about the same as Koh Kong’s, but it will be of an improved quality, says Phat. In regards to the Decho Satellite City, Mr. Phat said, “We need a partner to build this satellite city because we cannot do it alone as its size is about 1700 hectares - so big.” The satellite city project is aimed at all strata of people, but he did not confirm when the project will start or finish. Hor Vandy, co-President of the Tourism Group, said the safari zone in Phnom Penh would be a tourism product which international tourists will demand. This will mean some will stay longer in Cambodia than previously - and in Phnom Penh in particular.   If the safari zone is connected with Ta Mao Zoo, tourism companies can prepare a good tour package for tourists, and the tourists will not hesitate to travel more around Cambodia, he said. “Moving the safari from Koh Kong to Phnom Penh is a good decision, for there are not many people in Koh Kong and tourism penetration is low. Phnom Penh has about 2 million people and about 2 million tourists, and tourists are increasing from 7 to 8 million per annum,” Vandy said. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.

The increase in high-rise buildings across Phnom Penh is not only turning Phnom Penh into business and commercial hub, it is also attracting more foreign investors to inject their investment capital into the country. Sear Rithy, CEO of WorldBridge Land, is currently cooperating with Singapore-based Oxley Holding International to invest in ‘The Bridge’ development, a 45 floor, $300 million project. The same company is also preparing to build the Shangri-la Hotel in Phnom Penh, and three commercial buildings known as ‘The Peak,’ with 55 floors each, located near Diamond Island. Sear Rithy says that the emerging skyline in Phnom Penh is really attractive for investment.  "When foreigners visit Cambodia, they will be interested in projects like ours. If there are many high-rise buildings, they realize this country has been developing and they are interested in investing. They will then consider the legal system and government policy, economic growth, and political stability," he said. "Investment will grow along with the high-rise buildings."  The speed of development shall depend on each government's policy; however, Sear Rithy believes we are currently on the right track. Cambodia is better than all other ASEAN countries, besides Singapore, in regards to the conditions for increased FDI - because the Cambodian government allows foreign investors to own a one hundred per cent share of a company, they are exempt from tax for importing products and tax rates generally in Cambodia are lower.  "Cambodia has adopted a multi-ownership law which allows foreigners to own from the first floor up, which is good because it helps foreigners to be more confident in their ownership rights. It's like Cambodians trying to buy property abroad without having their name on the title of the property. Is it a worry? Yes, of course it is," he said.  According to an unreleased report by the Ministry of Land Management, Urban Planning and Construction that looked at 600 new buildings both finished and under construction, Phnom Penh’s development has been broken down into three categories. While the city is still dominated by buildings that range from five to nine floors, at a total of 361 buildings, it is not a surprise that their numbers showed a growing trend towards upward development. The report found that there are 167 buildings between 10 to 19 floors, 21 buildings were between 21 to 29 floors, while only twelve were above 30 floors, four of which are over 40 floors. Lao Tip Seiha, Deputy General Director of the Construction Department of the Ministry Of Land Management, Urban Planning and Construction, said looking at the change in Phnom Penh’s skyline is an indicator of the country’s development. If compared to neighboring countries, he said that Phnom Penh’s growth is following the same path as other major cities and that the high-rise developments reflect adequate urban planning and infrastructure advances. “More high-rise buildings illustrate that Cambodia has achieved more than it ever has before,” he said. “Foreigners who visited Cambodia even five years ago are surprised by the achievement.”Chrek Soknim, CEO of Century 21 Mekong, agreed that having high-rise buildings could well give more investment potential to Cambodia. He now sees a Chinese company planning to invest in a 500-meter building with high standards in Cambodia, and this reflects a good sign for the country. "Having more high-rise buildings will mean we attract more investors. If there are more investments such as this Chinese example, and they move their head office here, we will get more advantages for the greater economy," Soknim said.  "Cambodia does not have many big companies placing head offices here, so we have more potential to come in the future. But I believe we will attract them to bring their head offices here. Consequently, the GDP of Cambodia will increase to another level," he said. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.

Cambodian real estate has seen increases in land prices and investment that has quickly changed the face of the country, and its profile within the region. Yet, the question is whether the sector will continue to grow in the long-term. There are optimistic responses – but also some warnings from economists and real estate industry commentators.Po Eav Kong, General Manager of Asia Real Estate, said that there are two driving forces behind the progress in this sector.  The first force is ongoing political stability. This has equaled economic growth for Cambodia, a stable macro-economy and support for other sectors that contribute to overall economic growth. The construction sector investment, for example, increased from $900 million in 2010 to about $2 billion last year. The second force to look at is capital inflow, the economic and financial flows that have occurred, and regional changes in these flows.  An example is the new Vietnamese real estate law that took effect a few months ago. It allows foreigners to own land and residential property. This means competition for foreign investment between Vietnam and Cambodia will increase. Yet, despite these changes, legal systems and practice, and demographics, all factor into foreign investment decisions. “I think overall the countries’ investment potential in real estate is still prominent because of our continued economic growth and stability,” said Po, “the sector will continue to grow for the next few years, but in the long-term I cannot predict because politics and the economy are not yet independent from one another.” Po said the flow of new investors from Japan, Korea, Malaysia, Singapore and China, and the increased size of the countries’ middle-class, as well as a continuing supply of cheap labor, are all parts of the attraction for foreign investors coming into Cambodia. Vorn Chanthorn, CEO of Town City Real Estate, seems positive about the growth in real estate. Chanthorn believes the sector will continue to expand thanks to the stable environment and continued economic growth. He also suggests that average people and the Government are more aware of the importance of supporting the sector. “The government has a good policy to attract foreign investors - they are allowed to buy houses in Cambodia from the first floor up regardless of their nationality.” He added, “I think there will be new policy in the future to encourage more investment.”Chanthorn’s forecast is seemingly sound, since recently the government has adopted policies to boost the economy through promotion of the industrial sector. Its new economic development policy aims to draw in investors by replacing the primarily labor-driven economy with a technology-driven one.   However, Soeng Bonna, CEO of Bonna Realty Group, is cautious when it comes to risks and growth of this sector. He said it is difficult at this stage to conclude if growth still exists in the long run for these sectors - especially after the ASEAN Economic integration. If things remain as the status quo, the property sector will move forward, but we do not know how attractive big development projects will be to investors or how well they will do. 'So far, I have no knowledge if those already proposed major projects will continue, but smaller domestic projects will go forward.” He added, “It will be less profitable for bigger projects if there are many smaller ones priced from $2,500 to $3,000 per square meter. Those big projects will fall flat if foreigners’ demand for condos does not exist. Domestic demand will, however, continue.” For Bonna, economic growth and political stability in Cambodia have yet to show signs of discouragement. Yet, the government reforms do not look particularly attractive to investors either. So, it is clear that today’s condo demand (before ASEAN integration) is lower than the supply. Mey Kalyan, economist and senior adviser of the Supreme Economic Council, has warned that people should be very careful saying, ‘houses are like body fat.’ Rather, consuming too much fat at once is not advisable; building too many houses while the demand for them remains low will not do the economy any good. Modern condos are not very productive; it is similar to when someone buys a luxurious car for themselves, as opposed to a bus which he or she could easily rent for profit. He added, “We can hustle the market, but when it comes to real estate it is always a two-edge sword. If you buy as an investment or as a speculator, problems will arise. If you are buying with the expectation to keep the property and sell it for profit, foreigners can do so now as the price is reasonable for them for this dual-benefit purpose.”The Ministry of Finance predicted in early July that Cambodia's economy will continue to maintain a growth rate of seven percent for the rest of the year, as it did last year, and the main sectors contributing to this growth are those of textile, construction and real estate. Mr. Faisal Ahmed, IMF Resident Representative to Cambodia, said the real estate and construction sectors in Cambodia have helped spur economic growth and political stability because the sectors have provided lots of jobs to people and have significantly boosted income into the financial sector. However, the growth of supply that exceeds demand should remain under precise scrutiny.However, Arn Channy, Sales and Marketing Executive of World City, which has been developing the satellite city CAMKO CITY, said from now into the next five years real estate in Cambodia will still be growing due to the increased demand and high number of investors. When the full ASEAN integration is realized at the end of the year, Cambodia will benefit a lot because the inflow of people to find work and investment will consequently raise the demand for housing.  He said, “Cambodia has huge potential for the future to come.” Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today.

Realestate.com.kh would like to present another of our featured agencies - Century 21 Advanced Property. Century 21 Advanced Property is the exclusive holder of the Century 21 Trademark & Systems in Cambodia. With our giant networking within 75 countries, 7,250 Offices, and 103,000 agents, we are sure to make the Buying or selling your properties should be a memorable and pleasant experience. [caption id="attachment_78878" align="aligncenter" width="323"] Mr. Long KimSuor (Right), Chairman of Century 21 Advanced Property[/caption] Check out Century 21 Advanced Property listings for rent and for sale on realestate.com.kh today Century 21 Advanced Property's vision is to become a diversified regional real estate holding company, specialized in real estate and related activities in locations where the company identifies an advantage, in order to achieve consistently increasing returns and growth to our value clients & Owner. Century 21 Advanced Property Mission: The mission of Century 21 Advanced Property is to be the most successful real estate firm in Cambodia. Century 21 Advanced Property incorporates proven, professional state of-the-art techniques specializing in the marketing, listing and selling of new and resale luxury homes, residential communities, condominiums, home sites, undeveloped land and commercial and investment opportunities. Century 21 Advanced Property Core Values: To fulfill our company vision we will incorporate professionalism, high ethical standards and innovative business practices and systems. Our values are honesty, integrity, and fairness in dealing with our clients, service providers, and colleagues. We will provide quality training and excellent education to our staff. The Century 21 Advanced Property Team: Working together is essential. Harmony and a positive attitude are critical to success. Without synergy and devoted teamwork our goals will remain unattainable. We at Century 21 Advanced Property highly appreciate talent and we continuously work to explore personal potential and to reward outstanding achievement. Century 21 Advanced Property Services include Property Sale, Buy and Rent; Property Consultation; Property Management; and Project Sales, Consultation and Management.Check out Century 21 Advanced Property listings for rent and for sale on realestate.com.kh today

Searching for expat rentals in Phnom Penh can often be a stressful and daunting task, especially if you are an expat who is new to town. Here at Realestate.com.kh, we've compiled a top 5 list of advice and tips, to ensure your next rental home search will be a great experience.There are no shortage of agents who are ready to assist you finding expat rentals in Phnom Penh - from fully registered agencies, right through to "work from home agents." In fact, you can bet even the good old tuk tuk driver will know a few places for rent if you ask them.But how do you weed out the good from the bad when searching for quality agents with expat rentals in Phnom Penh? How do you save the time & stress when searching for an expat rentals property?Ask your friends or colleagues if they know a great agent: Chances are, if they’ve been in Phnom Penh for a number of years, your friends, family and acquaintances would of dealt with several agents before, and can share their experiences with you. Find out who helped them to secure their expat rentals in Phnom Penh, and learn as much as you can from that experience.Use an a professional agency: Professional run agencies such as the “featured agents” listed at the top of Realestate.com.kh’s “Find an Agent” section, are well established, and, in some cases, this list includes some particularly expat orientated agencies.  Professional agencies with an expat focus should have a full range of listings on Realestate.com.kh and on their own website, fluent English agents, great market insight and experienced with Cambodian rental agreements.  As they offer a free service to potential tenants, professional agencies should be your first call. Some current “Featured Agents” who specialize in expat rentals in Phnom Penh include Yong Yap Property, IPS Cambodia, Knightrank Cambodia.Does the agent understand your requirements? It takes time to visit properties and you don't want to waste half a day viewing properties that are not relevant.  There are agents out there who only hear your budget of $500 and do not care that you want to live in a specific area or that a large balcony is the most important feature you require.  Ask the agent to show you photos of the property first to save time.Check their referrals: Quality agents have a track record of happy clients and would be proud to show you some positive feedback from their previous clients. If they have a testimonial section on their website or feedback on facebook, see what previous clients have said about the agent's service. Don’t forget to consider their after-sales support track record - this is often the difference between an average agent and a very good one.Attention to detail: Does the agent respond emails/phone calls in a reasonable amount of time? Does the agent show up to appointments on time?  Do they dress smartly? All these signs give you an indication of the type of agent they are, and the standard of service that they are likely to bring to you. If the agent makes the effort to present in a professional manner to you, it's a safe bet that they'll provide quality overall service.Found an agent? Now it's time to inspect the properties they recommend! Checkout our property inspection checklist now!

Bodaiju Residences is delicately infused with Japanese and French architectural elements, believes the project's Architect, while bringing the everyday conveniences expected in a modern apartment building to the capital of Cambodia. Bodaiju Residences is an ensemble of six 14-storey buildings woven into the tropical landscape. The project Bodaiju Residence was designed by Ivan Tizaniel, a French architect who has worked on projects that include The Plantation Hotel, in Phnom Penh, and the VIP terminals for both Phnom Penh and Siem Reap International airports. See the listing here. Phase 1 is selling out fast, with huge local interest from Khmer buyers!Each Bodaiju Residences unit will enjoy large covered terraces that are able to act as a second out-door living rooms. Indoor-Outdoor flow is the name of the game, as Tizaniel wished to embrace Cambodia's tropical climate. It may also be a tribute to the Cambodian lifestyle, as local families prefer the option of eating and relaxing outside or inside, depending on the weather. The residences will also host rooftop sky pools, sky parks, a gym, clubhouse, BBQ pit, mini marts, cafes and kids play space, among a host of other features. Inquire today for full information!  “Bodaiju is architecturally inspired by the local climate,” Tizianel, the proud architect said, adding that, “in tropical countries such as Cambodia, we have to provide shade within the design to protect from the sun and get natural ventilation.” One, two and three bedroom condos are all available, and on accommodating financing schemes. Inquire today for full information!  Another unique feature of Bodaiju Residences, is that the car and moto parking lots open up to the ground floor gardens, covered by additional suspended gardens and lush walkways that link all buildings on the second floor. The suspended gardens serve a dual purpose, Tizianel explains: Able to hide the parking lots and, meanwhile, create a nice landscape for the lower level apartments. “The Japanese touch is in the simplicity of details and the relationship with nature,” reflects Tizianel.     Bodaiju Residences brings nature together with the conveniences of metropolis living, in close vicinity to Cambodia’s industrial centers. Located on the outskirts of Phnom Penh, alongside Lion Mall and a quick drive to the Phnom Penh international airport, Bodaiju Residences is equally close to the Phnom Penh Special Economic Zone and other emerging hubs of industry; a great choice of new home for factory management who wish for a convenient location close to the workplace. With construction commencing now, set to be completed by 2018, the project will be built in three phases on a 23,531 square meter area of land. The first phase, which is currently being sold, will include 372 units, while the second and third phase will produce 372 and 184 units respectively.   Click Here to Contact Bodaiju Agents!     Low-entry investment in Bodaiju Residences starts at $100,000. The average net selling price of Bodaiju Residence units is $1,600 to $1,700 per square metre. The Bodaiju Residences project is the first and biggest project to be invested in outside of the city center and instead in front of Pochentong International Airport. This shall be the future focal point of Phnom Penh, and is an attractive position for investment based on rising land prices. It's proximity to both the CBD and the International Airport is an assurance for buyers that their investment will increase in value as the Cambodian economy continues to develop.         Inquire About Bodaiju Residences Today on Realestate.com.kh and find out more!

Realestate.com.kh understands that the Phnom Penh rental market can be a little daunting for expats fresh to the Kingdom looking for a new home. In light of this, Realestate.com.kh has taken a survey of the average prices of rental properties in Phnom Penh, and let you know what differently classified Phnom Penh rental properties are likely to provide.Not surprising, Phnom Penh offers a host of real estate options for expat renters - whether it be a traditional wooden Khmer-style townhouse, a classic French-inspired Villa home, or a state of the art condominium unit, built by an international investment company. Clever expat or local renters can win in the Phnom Penh market place if they know what is available, and what reflects a reasonable price for those properties. The following should be a good start, thanks to Realestate.com.kh! We can break the Phnom Penh rentals market into four broad categories: Full-Serviced Apartments, Western Apartments, Khmer-Style Shophouses, and Renovated Shophouses.Let’s explore the attributes of each type of Phnom Penh rental property, and the average cost of leasing in different areas of town.1) Serviced Apartments in Phnom Penh: Luxury is increasingly in demand in Phnom Penh - but as the supply of luxury serviced apartments begins to exceed demand, luxury can also be very affordable. Full-service apartments provide almost everything you could want in a Phnom Penh apartment.Expect, at minimum, western style architecture and interior layouts, natural light, views, modern equipped kitchen including an oven, modern bathrooms, and expansive closets. Services such as laundry, Internet, cable, water, and even concierge services are included in the new breed of serviced apartments around Phnom Penh. Most of these accommodations also include one or more elevators, security, car, bike, and moto parking, gyms and/or swimming pools. Expect organized rent collection and hasty replies to your maintenance requests. You will almost certainly have air con.Serviced apartments are generally easy to find in the city, but expect prices to be higher than other types of accommodation, and don’t be surprised if vacancy rates low. Service apartments are somewhat impersonal, compared to other types of Phnom Penh rentals. Due to their size and relative vacancies, it may be more difficult to get to know your neighbors or your landlord. For a young professional or family, however, this extra space and privacy may be appreciated. They are also generally high rise apartments, so chances are you can land a great view of the city! Rough Price Range for 1 Bedroom Service Apartments:CBD - Chamkarmon, Daun Penh = $1000 – $1700 per month;Outskirts - Toul Kork, Sen Sok, Olympic, Toul Tom Poung = $800 – $1200 per month.2) Western Style Apartments in Phnom Penh:A “Western Style” apartment is a term that is thrown around a lot on the Phnom Penh rental market – and those properties fitting this description can vary widely. A “western” apartment can in fact represent anything from a few apartment units on the third floor, to a unit within a high-rise multi-unit tower. However, generally, those properties termed as western-style apartments in Phnom Penh have more amenities than those sold as Khmer-style units.So called “Western apartments” are generally newly constructed, have windows in every room and plenty of natural light, western style toilets and a kitchen with full cooking amenities; this should include all standard appliances and plenty of cabinet space, counter space, and an integrated cooktop. Often these apartment’s bathrooms will include a hot shower, a bathtub and floor tiles. A western style apartment should have a larger living space with somewhat modern lighting fixtures.Western apartments will also generally be furnished, and with furnishing such as plush sofa’s – as opposed to purely wooden furniture preferred in traditional khmer houses. Internet, cable, water and sometimes cleaning are generally included in the rental rate. Some of these properties will have elevators and might even have shared rooftop terrace areas. Expect parking for bicycles and motos. You should always get an air conditioner – in fact, this can be the sole reason the seller has called it “western.” Essentially, the “Western” label should lead you to believe that the construction is of a higher standard, as is the overall security of the building.For a foreigner there is also the benefit of having many foreign tenants, making it easy to make friends when your first settle in. Owners of western apartments are generally more experienced with this market and will follow through with your rental maintenance requests. Price Range For 1 Bedroom Western Apartments (non serviced):CBD - Chamkarmon, Daun Penh = $600 – $1000 per month;Outskirts - Toul Kork, Sen Sok, Olympic, Toul Tom Poung = $500 – $700 per month. 3) Khmer-style Shop House: A Khmer-style shophouse is still one of the most common property types in Phnom Penh, found in nearly every Phnom Penh neighborhood. They can also be built into three or four-story low-rise row homes. A shophouse, khmer style, is generally about four meters in width and roughly 16 meters long. The doors to enter will be in the front or back of the shop house, and the walls on either side will almost always have no windows. In a khmer-style shophouse, bedrooms won’t generally have windows, and if they do, they will face toward the interior of the home as opposed to the outside – thus, generally providing no natural light.Bedrooms will normally have movable dressers or rattan shelving, as opposed to inbuilt storage space provided in the more modern designs of apartments. Kitchen layouts in Khmer-style shop houses are generally fairly basic too. Expect to see a sink or two and a one burner gas cooktop. Don’t expect an oven and you will be lucky if you get much cabinet space.Don’t expect hot water, anywhere in the house. Bathrooms generally won’t have a separate shower or windows - but will be well equipped with floor to ceiling tiles, and the infamous bum gun. Bathrooms are just “wet rooms” without a separate shower in many cases. Home furnishings are seldom included, and if they are, expect them to be either rattan or wood. Expect, in terms of furnishings, no more than chairs, coffee table, and a table for eating.Although basic shop houses are still surprisingly popular with foreign renters, ultimately, their simplicity creates a kind of charm – and the price gap between these common shop houses, and new serviced units entering the market, are incomparable. Those that accept these shophouses for long term rents are generally expecting the landlord to make improvements or are being permitted by the landlord to make changes and modifications to the home themselves. With the right design and decoration, this style of house can be tailored to your preferences, and made to look much more valuable than their rental price. Expect to live close to your neighbors and get to know your neighborhood – which is a valuable experience for many expat renters. Rough Price Range For 1 Bedroom Khmer-style Shop Houses:CBD - Chamkarmon, Daun Penh = $300 - $400 per month;Outskirts - Toul Kork, Sen Sok, Olympic, Toul Tom Poung = $300 and under per month.4) Renovated Shop House:A renovated shop house, basically a khmer shop house that has undergone a makeover, can be harder to find in Phnom Penh. But when you find the right renovated shop house, you can get the authentic khmer style of living, with all the western amenities at hand. Adding to your search, the renovated shop house can often appear camouflaged from the outside as they generally have the same construction and outward appearances as the standard Khmer-style shop house.However, look inside to discover a gem – as the owner has in fact renovated the apartment interior with Western finishes, fixtures and amenities, yet still encapsulated in the same 4 x 16 meter layout. Keep your eyes peeled for new floors, added windows, and updated lighting fixtures. Other home furnishings will be newer – such as plush couches/sofas, and maybe a glass coffee table. A clear sign that a shop house has been renovated are the addition of external windows in the bedroom, facing the outside.Bedrooms may also have added features since the renovation, such as built-in closets, built-in shelving and air-conditioning. Renovated shop house kitchens will usually have cabinets for storage, and newer, western style appliances. Still, be aware that furnishings and construction may be cheap and require maintenance.Renovated shop house are great for foreigners who want to live comfortably on a budget while meanwhile maintaining the charm and community of living in a Khmer-style shop house. Owners are quite often friendly to expats and eager to please throughout the contract. More importantly - the prices are affordable. Rough Price Range For 1 Bedroom Renovated Shop Houses:CBD - Chamkarmon, Daun Penh = $600 - $700 per month;Outskirts - Toul Kork, Sen Sok, Olympic, Toul Tom Poung = $400 - $600 per month.Learn more about the Phnom Penh Market here. Check out our pre-signing checklist for rental properties now!

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