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Tips to Invest in Real Estate
Tips to Invest in Real Estate
June 6, 2022, 5:04 p.m.
Realestate News
Lots of people need information about how to invest in real estate but don't know where to look. If that sounds like you, look no further. Proceed into the following sections for some useful facts and thoughts.When selling your property: Try not to hesitant to spend money on marketing. Don't just concentrate on the numbers and focus too much on the amount your marketing is costing you. It is essential to think about the marketing as an investment. If you do it right, it will give you benefit in the end. When you invest in real estate you become a small business owner - and all businesses must market, right?When meeting the client: Always be on time when you set up a meeting with a potential customer. This will show that you are serious and will show no lack of regard to your potential client. Going to a meeting late demonstrates that you are unorganized and couldn't care less about your clients, which will make you lose them!Know your industry before you invest in real estate: You may need to stop some of your pastimes and focus on this for some time! If it was easy, everyone would do it! Drop some extracurricular activities to build your learning time so you really understand the market before you invest in real estate.Keep your distance, emotionally: When you invest in real estate, make a point not to get emotionally attached to your investment. You are attempting to turn the most profit possible, so try to put every bit of your effort into remodeling the home that you buy to maximize its value later on. Don't get stuck with a house you loved to much to let go...Know the area before you invest in real estate there: While a new property itself may look attractive, always examine the whole neighborhood it's located in before you purchase. Neighborhoods where individuals need to live tend to hold or even ascent in quality after some time, while a discouraged location may yield a lower return. Location is a top element with regards to property value, considerably more than the genuine property itself.Choose your partners wisely: Find a contractual worker to work with that you can coexist with and trust. You can spare yourself a considerable measure of disappointment if you simply find somebody that you know will work well with you, and has similar goals.Negotiation! You don't need to pay the list cost for a property! Most the time a proprietor will make the cost higher than it ought to be on account of they anticipate that individuals will attempt to negotiate with them. Try not to be terrified to give them a lower offer... as they might just give you that cash off!In case you're in the Phnom Penh and have any further concerns or inquiries then reach the Realestate.com.kh Team, Cambodia’s home of real estate, and the leading real estate news source in the Kingdom.
តើ​អ្នក​កំពុង​ដាក់​លក់​អចលន​ទ្រព្យ​របស់​អ្នក​ឬ​? ស្វែងយល់​ពី​ភាពខុសគ្នា​រវាង​ប្រាក់​ចុះឈ្មោះ​ទិញ និង​ប្រាក់​កក់
តើ​អ្នក​កំពុង​ដាក់​លក់​អចលន​ទ្រព្យ​របស់​អ្នក​ឬ​? ស្វែងយល់​ពី​ភាពខុសគ្នា​រវាង​ប្រាក់​ចុះឈ្មោះ​ទិញ និង​ប្រាក់​កក់
June 6, 2022, 5:05 p.m.
Realestate News
ពេលដែលលោកអ្នកលក់ អចលនទ្រព្យ អ្នកគួរតែយល់ឲ្យច្បាស់ពីភាសាដែលគេប្រើក្នុងវិស័យអចលនទ្រព្យ។ អ្នកត្រូវតែអាចបែងចែកឲ្យដាច់រវាងប្លង់ដីរឹង និងប្លង់ដីទន់ ការបង់រំលស់ និងការខ្ចីប្រាក់ ក៏ដូចជាការបង់ប្រាក់ចុះឈ្មោះទិញ និងប្រាក់កក់។មានអ្នកលក់អចលនទ្រព្យជាច្រើន និងអ្នកទិញមួយចំនួន ដែលយល់ថា ការបង់ប្រាក់ទាំងពីរនេះ មានលក្ខណៈដូចគ្នា ប៉ុន្តែតាមពិតទៅ គឺមិនមែននោះទេ។ នៅពេលដែលអ្នកចាប់ផ្តើមលក់អចលនទ្រព្យរបស់អ្នក អ្នកត្រូវតែយល់ឲ្យច្បាស់ពីការបង់ប្រាក់ទាំងពីររបៀប នេះ ព្រោះការយល់ច្រឡំធ្វើឲ្យអ្នកខាតបង់ប្រាក់ជាច្រើន។!ប្រាក់ចុះឈ្មោះទិញ ប្រាក់ចុះឈ្មោះទិញ គឺជាប្រាក់ដែលបង់ទៅឲ្យម្ចាស់អចលនទ្រព្យ នៅពេលដែលអ្នកទិញបង្ហាញពីចំណាប់អារម្មណ៍ក្នុងការទិញអចលនទ្រព្យមួយនោះ។ ចំនួនទឹកប្រាក់នេះអាចចាប់ពី ៥ ភាគរយនៃតម្លៃសរុប ឬត្រឹមតែ ៤០០ ទៅ ៥០០ ដុល្លារ ប៉ុណ្ណោះ។ ប្រាក់ចុះឈ្មោះទិញ គឺជាការដាក់ក្រោមឈ្មោះរបស់អ្នកទិញហើយជាផ្នែកមួយនៃប្រាក់កក់នៅពេលដែលការទិញបានដំណើរការរួចរាល់។ ការបង់ប្រាក់បែបនេះ ជាវិធីសាស្រ្ដមួយក្នុងការបញ្ឈប់អ្នកទិញផ្សេងទៀតក្នុងការទិញអចលនទ្រព្យនោះដើម្បីភាព ងាយស្រួលក្នុងខណៈពេលដែលអ្នកធ្វើ ការសម្រេចចិត្តជាចុងក្រោយ។ ទោះជាយ៉ាងណាក៏ដោយ វាមិនមែនជាការទិញដែលប្រាកដច្បាស់លាស់មួយទេ។ ការបង់ប្រាក់ចុះឈ្មោះទិញ អាចចាត់ទុកបានថា គ្រាន់តែជាការបង្ហាញពីបំណងក្នុងការទិញប៉ុណ្ណោះ។ រីឯអចលនទ្រព្យនោះនៅតែអាចដាក់ លក់នៅលើទីផ្សារដដែល។ ប្រាក់កក់ ផ្ទុយទៅវិញ ការបង់ប្រាក់កក់ ឬសមធម៌ អាចចាត់ទុកបានថា ជាការបង់ប្រាក់មុនដែលមានភាពប្រាកដជាក់លាក់ទៅលើអចលនទ្រព្យណាមួយ នោះ។ ប្រាក់កក់ត្រូវបានបង់នៅពេលដែលអ្នកទិញបានសម្រេចចិត្តទិញអចនទ្រព្យ នោះខុសពីការបង់ប្រាក់ចុះឈ្មោះទិញដែលគ្រាន់តែជាការពន្យារពេលរបស់អ្នកទិញក្នុងការទិញអចលនទ្រព្យនោះ។ នៅពេលដែលអ្នកលក់អចលនទ្រព្យរបស់អ្នក ប្រាក់កក់គឺជាវិធីសាស្ត្រល្អជាងគេ! អ្នកងាយស្រួលក្នុងការបែងចែកណាស់ នៅពេលដែលអ្នកលក់អចលនទ្រព្យរបស់អ្នក។ ត្រូវចងចាំថា ប្រាក់ចុះឈ្មោះទិញនឹងក្លាយទៅជាផ្នែកមួយនៃប្រាក់កក់នៅពេលដែលការទិញត្រូវបានសម្រេចរួចរាល់ ហើយអាចមានលក្ខណៈតូចជាង។ ការបង់ប្រាក់ទាំងពីរប្រភេទនេះ ដោយរាប់បញ្ចូលទាំងប្រាក់ដែលមិនទាន់បានបង់ គួរតែស្មើនឹងតម្លៃសរុបនៃផ្ទះរបស់អ្នកនោះ។ សង្ឃឹមថា អ្នកបានយល់ច្បាស់ពីភាពខុសគ្នារវាងការបង់ប្រាក់ទាំងពីរប្រភេទនេះ នៅពេលដែលអ្នកលក់អចលនទ្រព្យរបស់អ្នក។ប្រសិនបើអ្នកមានសំណួរ ចម្ងល់ និងការបារម្ភទាក់ទងនឹងអចលនទ្រព្យ អ្នកអាចធ្វើការទំនាក់ទំនងមកកាន់ក្រុមការងារ Realestate.com.kh តាមរយៈ info@realestate.com.kh ឬ +855 (0)17 436 756, វាគឺជាបណ្តុំនៃទីតាំងអចលនទ្រព្យរបស់ប្រទេសកម្ពុជា និងជាប្រភពព័ត៌មានអចលនទ្រព្យ នាំមុខគេនៅក្នុងប្រទេស៕
Selena Gomez's Party-Friendly House for Sale
Selena Gomez's Party-Friendly House for Sale
June 6, 2022, 5:05 p.m.
Realestate News
Pop star Selena Gomez has put her Calabasa house for sale. And if you are in the market for a party house for sale, the celebrity's compound is available for just US$4,495,000...She purportedly wants to catch a decent profit for her eighteen months investment. The "Wizards of Waverly Place" album has gotten to be something of a wiz at the land biz. She purchased the 7,700-square-foot house for sale at $3.7 million in 2014. Is this house for sale going to be "Great for You?" For anyone on a hunt for a superstar then the answer is yes... Do you think Tailor Swift would buy her house? The new proprietor will move into a custom home with five bedrooms, five chimneys, a gourmet expert's kitchen with breakfast alcove, a formal lounge area with floor-to-ceiling windows, a gym , a theater, an outdoor courtyard and a guesthouse. Fashionistas will mostly appreciate the enormous wardrobe. Invite all your friend lists or families for gatherings in the "great lawn" that features a pool, cabana, an outside kitchen and pizza broiler. While the estate charges itself as "private and extremely rare," it wasn't sufficiently private for Gomez. As per TMZ, various calls to 911 about gatecrashers most likely prompted her choice to put up the house for sale. Gomez has some an opportunity to scout out her next land find. The 23-year-old will be on tour beginning in 2016....
Construction Resumes for Gold Tower 42
Construction Resumes for Gold Tower 42
June 7, 2022, 1:24 a.m.
Realestate News
Abandoned for two years, Gold Tower 42 yet again promised that construction would resume on the long dormant project. This time, however, construction will begin in February 2016 and will be completed by 2018. Similar claims were made earlier this year, when the company promised it would resume construction in March of 2015, with a completion date of 2018.According to the Ministry of Urban Planning and Construction, Choi Jong Hae, CEO and Chairman of Yonwoo Cambodia Co, Ltd, who owns Gold Tower 42, requested permission to continue construction by sending a letter. Lao Tip Seitha, Deputy Director General of the General Department of Construction at the Ministry of Land Management, Urban Planning and Construction, confirmed that the ministry had received the letter. Seng Bunna, CEO of Bunna Realty Group, said that if the project actually begins, yet again, it would be a good sign that the Koreans have faith in the Cambodian market. However, he said that he was unsure if the owner of the property was truly committed to the project. But, from a construction materials point of view, now would be the logical time to resume construction because the materials, primarily all imported, have declined in value alongside the drop in regional currencies as the US dollar has remained strong, he said. “Now would be a good time to build, but to attempt to sell, now is not the time,” he said, hinting at the lack of faith investors have in the project. Siv Meng, Phnom Penh Post, Post Property.
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Prince Central Plaza: Redefining Tonle Bassac
Prince Central Plaza: Redefining Tonle Bassac
June 7, 2022, 2:10 a.m.
Realestate News
Prince Central Plaza represents a new age of living for one of Cambodia’s most exciting and desirable districts: Tonle Bassac. “Local people are starting to have a concern about good location and land - demand for premium land is very high right now,” says a spokesperson of Prince Central Plaza - and this is why Tonle Bassac was the obvious choice. Located on the exclusive Norodom Boulevard, the landmark development is just minutes to Independence Monument, Aeon Shopping Mall and various embassies. The building will have 37 floors in total, with the bottom three dedicated to the retail plaza and restaurants. Inspired by classical art deco lines and style, Prince Central Plaza will fast become an architectural icon of the neighborhood. The unique design is the product of American DF International Building Design Co., Ltd., a company that has already completed around 300 engineering design projects, spanning more than 20 million square meters. The Mansion House – the premium residence within the Prince Central Plaza project – offers a range of 1 to 3 bedroom condominiums, studio and SOHO units, all beautifully furnished with elegance and class, stunning balcony views of the city skyline, and finished with the latest amenities for modern living. The units will all have services provide by the 24 hour concierge staff, including International platinum housekeeper services. The Interior design of all Prince Central Plaza units have been formulated with taste and art deco elegance, by Shenzhen Guangtian Design Group Co., Ltd., a listed Chinese company with a renown portfolio of real estate projects. Inquire today to visit the showroom! Landscape design is also a key element of Prince Central Plaza, with delicately crafted surrounds in both the communal and private gardens of the residential complex. These have been designed by TTR Design Co. Ltd., a company with a wealth of experience designing and implementing gardens for resorts, hotels and recreational facilities across China. The beautifully designed infinity pool gives residents a place to relax and unwind; an impressive, fully equipped gymnasium and a fitness room will help you and your family keep healthy; shopping at your doorstep is assured – with the plaza’s malls; and an international standard business center will guarantee a convenient lifestyle for modern business people. The construction of Prince Central Plaza has already begun, under the management of China Construction Co., Ltd., China’s largest and most renowned real estate and construction enterprise. This will be another benchmark project for a company with many already in its portfolio. Prince Central Plaza is set to be completed by 2018.new Maintaining a 10% – 15% growth rate over 5 years, Prince Central Plaza promises a healthy return on your investment. And priced from just $55,000 per unit, the project is priced to sell – fast. Inquire today to visit the showroom!
Knight Frank Approved for SECC Valuations
Knight Frank Approved for SECC Valuations
June 6, 2022, 5:06 p.m.
Realestate News
Knight Frank Becomes the Latest Real Estate Company to be Approved as a Panel Valuer for the Securities and Exchange Commission of Cambodia: As part of the listing process, a company is required to have its real estate assets valued to determine its Net Asset Value (NAV). Established in 1896 and opening their Cambodian office in 2008, Knight Frank, which is the world’s largest privately owned real estate consultancy, has become the latest real estate company to be approved as a panel valuer for the Securities and Exchange Commission of Cambodia. With over 440 offices in 58 countries, all valuations undertaken by Knight Frank are carried out by professionally qualified valuers, and all valuation reports comply with the highest of standards set out by the International Valuation Standards Council (IVSC), giving investors total confidence in the value of a company’s real estate assets. Check out Knight Frank's listings on Realestate.com.kh here. The recent announcement that Hong Kong-based developer, Eastland Development (HK) Ltd, has expressed interest in listing on Cambodia’s stock exchange follows a number of similar announcements by companies that are also looking to list on the exchange, including the Phnom Penh Special Economic Zone (PPSEZ), TY Fashion and Sihanoukville Autonomous Port. Check out Eastland's property for sale here. If the companies indicated above list on the Cambodia Securities Exchange (CSX) as intended, real estate companies will represent one half of the listed companies (based on number of companies and not market capitalisation) on the CSX. Although activity on the CSX was initially slow, with the Phnom Penh Water Supply Authority listing in 2012 and Taiwanese-owned Grand Twins International (Cambodia) Plc listing mid-2014, the recent activity indicates growing confidence in the Cambodian economy and finance industry as a whole, which is a positive sign for Cambodia’s real estate and construction industry. The announcement by Eastland Development (HK) Ltd signifies their commitment to Cambodia over the long term and also their confidence in the Cambodian real estate sector. Furthermore, it also enables investors who may not be able to afford to buy a property a chance to participate in the growing real estate sector by indirectly investing through the purchase of shares within real estate companies.
Eastland Development announces plans for IPO 2016
Eastland Development announces plans for IPO 2016
June 6, 2022, 5:04 p.m.
Realestate News
Hong Kong-based developer Eastland Development (HK) Ltd has announced plans to list on Cambodia’s stock exchange within a year.Sam Yang, the company’s CEO, said during a recent company promotional event that Eastland is working with a local underwriter to prepare to float shares on the Cambodian Stock Exchange (CSX). “The application will be ready early next year and the company will have an initial public offering in September next year,” he said, adding that Eastland intends to be the first foreign-registered company to list on the CSX. Yang said that the purpose of listing was not just about raising funds for its projects, but also to raise the confidence of its investors and allow them to be part of a high-standard property firm. Read a related article: Knight Frank authorized to conduct IPO valuations.  Eastland Development (HK) Ltd is a branch of China’s Guangzhou Yuetai Group, a real estate developer with over $1.2 billion in assets. Eastland is focused on real estate development in Cambodia, and claims to have invested $60 million in three projects here: East One Apartments, East View Residence and East Commercial Center (ECC). Phnom Penh Securities, the underwriter for the IPO according to Yang, could not be reached for comment yesterday. Sou Socheat, director-general of the Securities and Exchange Commission of Cambodia (SECC), said he had not received any letter or official documents from the Eastland yet, though he welcomed its intention to join the stock market in Cambodia. He said some foreign-registered companies have submitted letters of interest to list on the CSX, though nothing is official yet. In addition, the SECC is also reviewing the applications of three local companies that intend to list within the next year, namely Phnom Penh Special Economic Zone (PPSEZ), TY Fashion and Sihanoukville Autonomous Port. Sor Chandara, Phnom Penh Post Want to invest with Eastland? Check out their properties for sale on Realestate.com.kh: East One Apartments, East View Residence and East Commercial Center (ECC).
New Market Dawns as Oknha Tastes Go Oligarch
New Market Dawns as Oknha Tastes Go Oligarch
June 6, 2022, 5:06 p.m.
Realestate News
After defining high-end taste in Russia, China and Thailand, an Italian luxury home-décor company aims to conquer the villas market of Cambodia’s rich.Greeted by gold-gilded tables, intricately carved gold-leaf headboards, and polished tiles of marble and ceramics, one would feel as though they had just stepped into a magical place reminiscent of the Winter Palace in St. Petersburg or an oligarch’s lavish home. In actual fact, this place strikes much closer to home. With its palatial and baroque items on display at the launch of their showroom on November 22, Azza Décor is the first of its kind in Phnom Penh; a luxury home-décor company specializing in Italian interior design, mainly in the market for furniture and lighting, tiles and bathroom furnishing and kitchen fittings. Every distinctive product has a “Made in Italy” tag, while its exclusive brands boast of names like Versace (Ceramics), Valentino, Bastianelli Home, and Socci, amongst many others. Marco Cipriani, area manager for CIAC Group which supplies furniture to Azza Décor, explained that, “our first market all over the world [for this style of furniture] is the Russian market, as the Russian people love to buy these types of gold leaf furniture.” However, at $165 per pop for one Versace Ceramic tile-piece or $10,000 for a Versace sink, the question is whether such ornate and lush furniture is prohibitive here in Phnom Penh. “Since our expansion in other Asian countries like China and Thailand, we feel it is time that this kind of furniture comes into the interior market in Cambodia,” Cipriani said. Minea Prach, Azza Décor’s sales and marketing manager, explained that the Phnom Penh launch was due to the exponential growth in the construction sector and an increasing appetite for luxury goods among a few. “Our main target audience is the high-end niche market of those who own private residences or villas,” Prach said. The influx of foreigners and foreign businesses in Phnom Penh does seem to complement the opening of such a company. Azza Décor seemingly fits in with the high-end residences, exclusive condominiums and villas that have been springing up over the past few years. Lorenzo Martini, founder of architecture and interior design company Lorenzo Martini Design Studio, offered his insight on the home décor style that appeals most to Cambodians, as well as how luxury interior décor companies will fare in the Cambodian market. In reference to what style of interior design piques the locals’ interest, “Cambodians with a budget manage to implement what I would say a Neo-Baroque, or Transitional Classic [style],” Martini said. “People would call it ‘classical’, but is a classical style with exaggerated curves, patterns and textures, heavy to the sight, which draws on baroque but while sharing its power, it doesn’t share its elegance. It’s a style that is popular in most developing countries,” he continued. On how high the demand for such a niche market is here, Martini said that it is tempting to affirm a high demand given the number of showrooms showcasing luxury furnishing in Phnom Penh. However, this pertains only to a pocket of very wealthy people who may not have an idea of what defines a real luxury product. Therefore, many end up purchasing overpriced products without much discernment. “I’m happy to see [Azza Décor] stepping up the game, and will give a run for their money to many other shops currently selling average products at high prices under the pretense it is luxury,” Martini said. There is no such pretense at Azza Décor, with each product guaranteeing its authenticity of quality and branding. Partly echoing Prach’s words, Martini said, “I don’t see the market as being ready for luxury commercial projects just yet, I think luxury products are almost exclusively employed in high-end private residences.” Azza Décor currently works closely with luxury housing developer The Bay, managed by the TEHO Group, in supplying materials to them. Having sold a considerable number of products before and during the launch to owners of private villa residences in BKK 1, Borey Orkide, and Borey New World, Azza Décor looks set to make waves in this small, but powerful, pocket of Phnom Penh’s elite. Hanamariya Halim, Phnom Penh Post, Post Property
Make your Home Quieter
Make your Home Quieter
June 6, 2022, 5:06 p.m.
Realestate News
There are lots of easy things you can change in order to make your home quieter, and fetch a higher market price. Here's why a quiet home is worth more $!  Sam, a local Phnom Penh real estate agent recounts: “I recently checked out a villa home for sale along the main road out of Phnom Penh, Road number 4. The main road there is very loud and dusty - as you may know. But, as soon as I walked in the large gate of this 4 bedroom villa for sale, I found that the owners had created a peaceful garden sanctuary behind the thick and tall street fence. Inside this secret garden wasn't loud or dusty - and it was hard to tell the main road was not far away. This owner had very-cleverly created a quiet home setting able to offset the property’s location shortcomings.” The trick is to stop street and/or neighborhood noise from entering the house. You can do this by adding: Botanical gardensWindow glazingWall insulationBlindsTall secure fences: a good landscape designer will use walls, fencing, plants, hedges and other noise cancelling techniques to bring down the noise levels of your home.Generally - using noise-reducing materials when building or renovating is the best way to start when trying to cut your home noise down.In the design stage consider having bedrooms and living areas away from the noisiest parts of the building.Here's why a quiet home is worth more $!
Hong Kong Hottest Market, says CBRE
Hong Kong Hottest Market, says CBRE
June 6, 2022, 5:05 p.m.
Realestate News
CBRE Residential Global Living Report, released this year by CBRE International, has seen two east Asian real estate markets ranking in the top 5 highest value residential property markets worldwide, as decided by average property prices. The rational given for this Asian boom appears promising for the Cambodian residential property market, given hints to parallel trends occurring on a smaller scale in the Kingdom’s residential real estate market currently. The CBRE Global Living Report examines the residential property markets of 31 affluent cities around the world, including hubs such as Shanghai, Paris, New York, Tokyo, London and Madrid. Hong Kong ranked number one in the CBRE Global Living Report this year, having the highest average price per square foot in the world. Singapore has the highest property price by capital value in the world, according to the report, however, when viewed on a per square foot basis it came fifth, internationally. In Hong Kong, property prices leaped by 13.5 percent last year alone, meaning the market saw 20 percent average annual price growth, ranking as the second fastest residential growth market worldwide, according to the CBRE Report. Interestingly, the CBRE report cites increased Chinese investment as a key stimulant behind this boom: “As Hong Kong attracts a substantial amount of Chinese (as well as other international buyers), the market is likely to be buoyed by the recent Chinese stock market crash, which may lead to investors finding alternative homes, such as property, for their capital.” Not surprisingly, therefore, in Hong Kong only 65 percent of all residential properties are owned by owner-occupiers. Cambodia, with the unique invitation of an investment in USD, could also be benefiting from this type of investor. Anthony Galliano, Group CEO, Cambodian Investment Management, believes that, “Cambodia ‘s real estate market had been historically ignored as the country wasn’t viewed as a “quality of life” or “property investment” destination by foreign investors.  With Hong Kong and Singapore being Asia’s 2 most expensive markets and also in the world’s priciest markets, developers are seeking alternative Asian geographies that are more economically viable.” Knight Frank’s Cambodian country manager Ross Wheble explained to the Post, in regards to similar indicators in Knight Frank’s latest Asia Development Index, that the regional cooling “has benefited [Cambodia with] an influx of both foreign developers and investors seeking to take advantage of the comparatively low property prices and the relative ease at which foreign buyers can acquire freehold property (above ground floor level).” Galliano suggests that the surge in investment in Cambodia’s property market has been driven by economic fundamentals, namely, “ a more positive image of the country from frontier to developing market, and to an extent, herd instinct.” Galliano continues that “While property prices currently remain attractive, and the country, more specially Phnom Penh, has welcomed developers with open arms, inevitably once you do the math it is blatantly obviously there will be oversupply given the expected developments coming online in the next 2 years.  Therefore while it is all rosy today, I expect turbulence in property prices in the medium-term.” The Knight Frank report also added that growth in Cambodia has decelerated in the second quarter of 2015, suggesting prices may have reached their peak and will likely level off leading up to the AEC. As to why prices are appearing to peak, Wheble explained the sales rates of newly launched condominium projects in Cambodia for the first half of 2015 compared to 2014 “have eased.”
East Commercial Center (ECC) Sales Launch!
East Commercial Center (ECC) Sales Launch!
June 6, 2022, 5:06 p.m.
Realestate News
After the success of the “East One International Apartments” project – a condo development which is already 70% sold and now under construction in Duan Penh, Eastland Development Co. Ltd. have announced the launch of sales for “East Commercial Center (ECC)” along Norodom Boulevard, near the Malaysian Embassy. The number one real estate need within Phnom Penh moving into the future is a lack of affordable, sole-purposed office space, believes CEO of Eastland, Mr Sam Yang. "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 Center (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 Center (ECC) on realestate.com.kh todayThe 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. The second Cambodian condominium project for Eastland Development. The current office space market in Phnom Penh is unsuited to the growing demand, believes Mr Yang. "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 Center (ECC) on realestate.com.kh today
FDI Encouraged by Foreign Property Ownership Allowances
FDI Encouraged by Foreign Property Ownership Allowances
June 6, 2022, 5:05 p.m.
Realestate News
Foreign direct investment (FDI) is luring a new breed of foreigners to Cambodia, and the region more generally. With foreigners comes an increase in demand for property, and different types of property - and a series of new allowances in national property laws to accommodate this demand.Foreign investors come to the South East Asia region for the low labour costs, connectivity between the neighbouring economies, and the huge supply of land, resources and business opportunities. And as local markets grow, FDI will naturally follow as international companies are spurred by the chance of jumping on the wagon of a fast moving economy. Foreign capital presents a huge engine of growth in South East Asian countries such as Cambodia, Vietnam, Myanmar and Laos - which cumulatively saw an average annual rise in FDI of 9.2 percent in the years 2010 to 2013. In this FDI growth, Myanmar was the leader of the pack with a 35.8 percent increase over the three year period. Cambodia followed with 22.3 percent; Laos came third at 15.2 percent; and finally, Vietnam, fell behind with just 2.6 percent growth over the three year survey. Yet, amid the Cambodia, Laos, Myanmar and Vietnam bloc, foreigners are subject to a variety of ownership limits. The foremost of these is being barred from owning land on a freehold basis, otherwise termed as outright ownership in perpetuity. This is a rule which is largely steadfast throughout the four nations’ borders. This may not be surprising, however, as freehold possession of land is likewise unavailable to citizens of Laos, Myanmar and Vietnam, where government policy holds the state as the principal owner of all land. Long-term leasehold is, therefore, the accepted form of land ownership for foreigners based in these nations. Lease terms are flexible for most purposes, whether it be for a new business property or a residential address, and allow room for ownership limits to potentially ease in the years to come as governments in the region increase efforts to attract quality FDI. Given the relative political stability in the region, investors are generally happy to accept these long term leases. Cambodia, unlike its three neighboring counterparts, has a freehold land ownership system for its citizens. Foreigners based in Cambodia are also allowed rights of ownership over certain properties, subject to 2010 Law on the Provision of Ownership Rights. These rights, however, are restricted to buildings that have obtained a "strata title", which is available only to newly completed apartment buildings. According to the strata title regulation, foreigners cannot acquire a ground-floor unit legally, and any foreign ownership allocation is limited to a maximum of 70 percent of the units in any one co-owned building. Nevertheless, a foreigner lease term over landed properties can still be up to a 50 year maximum, with a 50 year renewal option included. In Laos, land is owned by the "national community", meaning no individual or business entity, foreign or local, can truly own land. Land-use rights are only granted to individuals or organizations by the state, and these rights are able to be transferred or inherited. 50 year leases are commonly granted to foreign individuals or companies. Myanmar's constitution similarly establishes the state as the ultimate owner of all land. Yet, under the new Myanmar Foreign Investment Law, an investor may lease land for up to 50 years, with two 10 year extensions. Structures affixed to land are the property of the foreign owner, but these rights revert to the lessor or the state with no prescribed compensation when the lease comes to an end. A Condominium Law, likely inspired by the Cambodian example, that is currently in development in Myanmar but not yet in force, would allow a foreigner to purchase a condominium on the sixth floor or above of a co-owned building, up to a quota of 40 percent foreign ownership of the total units in the property. In Vietnam, freehold ownership by foreigners over land is prohibited by the constitution. Yet state authorized leases between 50 and 70 years are widely available, especially for development projects, and renewable at the discretion of officials. Further, pursuant to the Vietnamese Law of Housing 2014, a foreigner may now own a unit in an apartment or condominium building - if it is a no-more-than 30 percent foreign owned building. The influx of FDI and the relaxations upon ownership laws is pushing local real estate developers to create and sell more residential space suitable for the needs of this new investor class. The massive boom in construction in all of these countries, Cambodia’s condo explosion being a prime example, reflects this drive to meet a new FDI based market. As rules are eased, companies such as property developers, banks and providers of property-related services, like maintenance, insurance and security, soon flow into the economy and boost it from within. In evidence of this, the GDPs’ of Cambodia and Myanmar each grew 9.7 percent last year; Vietnam's shot up by 8.8 percent; and Laos experienced 5.2 percent GDP growth.
Mortgage Matters Part 2: What's in a Home Loan
Mortgage Matters Part 2: What's in a Home Loan
June 6, 2022, 5:06 p.m.
Realestate News
There are three basic components to any mortgage. You must understand these clearly before you start the home loan application process. If you missed Mortgage Matters Part 1, read it here!In short, these are the home loan amount, interest rate, and loan term:Mortgage Component #1 - The Loan Amount: The loan amount is the principal amount that you want to borrow. Banks in Cambodia generally give a loan of up to 70% of the property value. Mortgage Component #2 - The Interest Rate: The interest rate is very important to understand! It is the percentage of annual interest that you have to pay on the total loan amount. It can be a fixed rate, a flexible rate, or a combination of both. Mortgage Component #3 - The Loan Term: The loan term is the duration/length of time that you take to completely repay the loan. Loan generally range from 15 to 30 years in Cambodia. If you combine the principal loan amount and the interest amount, you will then know the overall loan amount. Most home loans are usually repaid via monthly installments.The repayment comprises two parts or portions. One part is for the repayment of the principal amount. The other part is for the repayment of the interest.This information should help you calculate your monthly mortgage payment... These home loan calculators should help too! Ready to get a Mortgage?? Inquire for a home loan here.