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The Bay To Begin Construction In First Quarter Of 2016
The Bay To Begin Construction In First Quarter Of 2016
June 6, 2022, 5:05 p.m.
Realestate News
After a tumultuous year in Cambodia for Singapore-based TEHO International, the developers of the $500 million The Bay condominium project on Chroy Changvar peninsula said construction will begin early next year with a new marketing strategy after another managerial shakeup.ย Want to inquire aboutย a unit in the Bay? Check out the full listing today, on realestate.com.kh.ย  Announced on the Singapore Stock Exchange earlier this week, ECG (Cambodia) was bought out and formalized into the parent company ECG Propertyโ€”a wholly owned subsidiary of TEHO International that handles all marketing and promotional activities. Previously operated by the joint ventureโ€™s partner, Sok Bun, ECG Cambodia was purchased to a tune of $71,776, or what amounted to 45 per cent of the initial paid-up share capital. Currently, the unaudited net assets for ECG Cambodia as of July 2015 amounted to $169,836, the statement read. While ECG Cambodia will still perform its duties as the acting real estate agency for The Bay, all marketing and promotional activities will be conducted at the head office back in Singapore. Phua Cheng Boon, Financial Controller for TEHO International, said, โ€œit is good to have full integration of our projects.โ€ โ€œWe will have somebody based in Singapore who will be able to run operations regionally as well,โ€ he said.ย Want to inquire aboutย a unit in the Bay? Check out the full listing today, on realestate.com.kh.ย  It was previously reported by The Post that 100 condominium units had been sold since the soft launch in September. However, Phua declined to provide current figures. โ€œWhile we canโ€™t disclose the level of sales, we are confident to say that construction will begin in the first quarter of 2016,โ€ he said. With a new marketing strategy, he added, the development โ€œwill not be about big exposure.โ€ TEHO International, which formally launched the project in February of this year, had spent $1.1 million on advertising and promotional activities, as well as around $600,000 in legal and professional expenses to promote the development, an annual filing in August stated. While Sok Bun, who resigned from his position as director of the board, currently awaits trial for the beating of a former TV star, his shoes has since been filled by Yim Chhay Line, the daughter of Deputy Prime Minister Yim Chhay Ly. โ€œShe is a good asset to the group and I am confident that all the necessary requirements for construction have been achieved,โ€ said Phua. Kim Heang, CEO of Khmer Real Estate, said that a marketing shift to overseas investors is the โ€œsmartestโ€ market strategy for The Bay, as it faces more competition and is also behind schedule. When asked if The Bay would miss out on the local segment, Heang explained that it is too small, โ€œso why [do] they need to waste time and money [on] the local segment?โ€ With a few soft approaches to buyers in Japan, Hong Kong and Taiwan recently, Phua said sales โ€œhave picked up.โ€ โ€œWe are doing this gradually because The Bay is a rather large project. We are going to all these different countries to do soft launches to get sufficient buying. We want to position [ourselves] as [a] more exclusive development,โ€ he said. Want to inquire aboutย a unit in the Bay? Check out the full listing today, on realestate.com.kh.ย  Kali Kotoski, Phnom Penh Post, Post Property.
Doubts surround Master Plan of Phnom Penh
Doubts surround Master Plan of Phnom Penh
June 6, 2022, 5:05 p.m.
Realestate News
Last Friday, master plan of Phnom Penh until 2035 was fully approved by the council of ministers, as announced by Pa Socheatvong, governor of Phnom Penh. While it is claimed that the plan is complete, those in the private and public sector and other relevant stakeholders fear that they have not been adequately consulted, raising concerns that implementation is unlikely and unjust. Without a publicly available draft that addresses socio-economic conditions as well as infrastructure, zoning, land title rights and all other concerns that come with the development of a city, they say it is unclear as to what the master plan of Phnom Penhย actually entails. Takashi Ito, Senior Representative of the Japan International Cooperation Agency (JICA) described the master plan as โ€œa fruit of self-efforts by Phnom Penh municipality,โ€ stating that JICA played no part in the current approved plan. Ito pointed out however, that JICA has submitted a master plan for transportation lines in March of this year, and is currently working on a master plan of Phnom Penh for a citywide sewage and drainage system. โ€œWe continue to be interested in healthy development of the capital city, which is why we have engaged in [these] two master plans,โ€ Ito stated in an email. While Ito wouldnโ€™t give Post Property an overview of the resources that are necessary to implement only a few crucial issues concerning city development, he admitted that without adequate resources, โ€œit is not really practical to try to address all the problems,โ€ he said. When it comes to meeting the demands of a burgeoning city and population, โ€œit is, in a sense, a question of priority,โ€ he said. To him, the success of a master plan hinges โ€œnot only on the degree of commitment of the municipality itself, but also on the degree of support and participation of other relevant governmental institutions, [possibly including] the private sectorโ€ and civil society. Piotr Sasin, country director for Czech NGO People in Need that focuses on spatial planning in Phnom Penh, called it โ€œworrying that the plan has been developed in secrecy without the consultation of civil society groups.โ€ He argues that city development is a complicated process that needs to be carefully coordinated to ensure implementation that properly addresses all issues. โ€œWe would appreciate if the municipality shared the plan with all shareholders so they can work on something that we will all be proud about. There are resources and the capacity to do this,โ€ he said. Considering the sheer complexity of a master plan, Sasin admitted that โ€œthe majority of all master plans are never really implemented.โ€ โ€œItโ€™s about the process, bringing the people together and it would be the job of the municipality to coordinate these efforts,โ€ he said. Long Dimanche, spokesperson of City Hall, however, said that there have been specialists outside the municipality working on the master plan. โ€œWe have been working on this master plan since 2002 and had help from many groups of Cambodian professionals such as architectures, land management, landscaping, environmental, engineering, and [from the] cultural aspect and we had advice from French experts,โ€ he said. According to Nicolas Baudouin, spokesperson for the French Embassy, French involvement in the city master plan ended with the publication of the 2007 White Paper, titled Livre Blanc. While the 330-page long master plan was published by Phnom Penh municipality, and outlined development until 2020, it was never adopted. โ€œThe project was considered complete with the publishing of the report and funding stopped. Why it wasnโ€™t adopted, I donโ€™t know,โ€ Baudouin said. Even though French involvement stopped in 2007, governor Socheatvong cited 14 focus points that are identical to the ones listed back in 2007. While the 14 points are meant to address issues such as zoning, open spaces and land title issues, Socheatvong said that what contributed to the adoption of this version was spurred by economic growth, commerce and a rising population. โ€œThe main purpose of the 2035 Phnom Penh land usage is the strategic document in order to serve the governmentโ€™s ambition as well as the aim of Phnom Penh municipality and their vision toward 2035 of managing and setting the direction of economic developmentโ€ฆ in an attempt to meet the increasing demand of private investment and the population in Phnom Penh,โ€ he said. Dimanche added that he did not know when the overall master plan would be published publicly, despite last weekโ€™s approval. However, he said the government will issue a new order to properly implement the city development plan. Meng Bunnarith, spokesperson for the Ministry of Land Management, Urban Planning and Construction, said that while the framework that was adopted by the council of ministers is comprehensive, it only provides a general overview that does not give much insight to critical details. The ministry has to set specific regulations in order to ensure a clearer use of land, he said. Nevertheless, Sasin fears that a master plan can be used to further exclude marginalised groups. โ€œMy main fear is that it will be a plan for the privileged,โ€ he said. As an example, he worries that poor urban communities who have been excluded from systematic land titling, such as the evictees in Borei Keila or in Boeung Kak, would still not be addressed. He added that City Hallโ€™s lack of transparency opens the door for misjudgment and misinterpretation. โ€œIf they published the document and got other stakeholders involved they could really pass on a positive message to the city which would be: we care.โ€ Julius Thiemann, Siv Meng and Moeun Nhean, Phnom Penh Post, Post Property.
Riverside Real Estate, Phnom Penh
Riverside Real Estate, Phnom Penh
June 6, 2022, 5:04 p.m.
Realestate News
Welcome to another weekly real estate news report, brought to you by Realestate.com.kh. On this weekโ€™s show, weโ€™re going to be speaking with Desmond Yap, Managing Director of Yong Yap Properties Phnom Penh, and one of Realestate.com.khโ€™s featured agents. Question #1: Tell us about the Riverside area and the attraction of it? Lifestyle wise, riverside has the best selection of restaurants and bars, making it very easy to meet new people. Of course it is riverfront, which means amazing views and fresh air. Riverside also has plenty of markets. For people interested in Riverside real estate, most of all this area is convenient โ€“ everything is just a walk away. In terms of investment, thereโ€™s only so much river and we cannot make more space here. So it is exclusive and a beautiful place to live. It makes it a very attractive location for foreigners, and grants the riverside area a high investment return potential in the coming years. In regards to Tourism, riverside is the #1 spot in Phnom Penh, and one of Cambodiaโ€™s travel hubs. Here you can easily access all tourist amenities, such as bus tickets, ferry tours, the night market, royal palace, and riverside is also home to a host of cultural events & festivals. Question #2: How has the riverside area changed over the years? In our area there has been huge changes in very little time. We were one of the first western companies opening on street 13 just 2 years ago. Now there are countless new ventures, such as Q Foffee House, Trunkh, Bespoke, Opera Cafรฉ and many more new brands. St 172 has also flourished into a renowned restaurant street now, with institutions such as Sundance, Sun moon hotel and Oskar Bar. Infrastructure has developed beyond recognition along Riverside too, including improved drainage. Flooding used to be a real risk on riverside - but now there are very few issues with this. Question #3: Is the Riverside area good for investment? Anywhere in Cambodia is a good for investment in my opinion, as it is a growing, developing country. As I mentioned, riverside is the number one tourism location in Phnom Penh โ€“ and because it will retain that prestige for many years to come, prices will always go up. Activities are growing weekly, including new options for food, drinks, entertainment, music and festivals. Looking forward, riverside is the perfect spot for a โ€œcappuccinoโ€ strip for the city. Question #4: Tell us about Yong Yap Properties? Yong Yap is a boutique real estate agency specializing in the Riverside area and focused on providing relevant, up to date data in a clear transparent way for our clients. In our short time, Yong Yap has established ourselves as the premier agency in the Riverside market and have built a brand around transparency, trust and quality service. Question #5: What sort of clientele do you find are most interested in the riverside real estate area? Foreigners are our main clients to buy/rent, and Khmer as owners - though this is starting to change as our real estate agency name develops more. Investors are interested in 3 things on riverside: firstly, buying properties for rental yield. Secondly, investment properties for capital growth (long term). And thirdly, what I call 'flippers', otherwise known as renovators. We also see a fair share of single expats needing accommodation, or deciding to buy for themselves. A part of this demographic are floating expats, especially from Thailand, who need temporary homes in Cambodia due to visa regulations and renewals. Retirees are another demographic we are seeing more and more of. They want to buy now, collect rent while they sort their affairs in their home countries; then, in the future, they have a great retirement home and money in the bank when they eventually move to Phnom Penh. Question #6: Where do you see Yong Yap growing to in the future? We will stay focused on riverside, this is where we are experts. We are still growing here and just moved into a bigger office. We also offer cleaning service & renovation company - these two side businesses should assist our clients. We want to focus on modern style marketing methods, including video marketing, open homes, mail out flyers and we want to become more and more active in community projects. Question #7: Whatโ€™s the easiest way to start looking at riverside properties? Of course, the best place to look for properties for rent or sale on riverside is by checking out the huge selection on www.realestate.com.kh, or Yong Yapโ€™s website: www.yongyap.com.ย Donโ€™t forget to call Yong Yap for a free consultation.Check out Yong Yap properties for sale and rent on Realestate.com.kh today!
Savills Enters the Cambodian Real Estate Market
Savills Enters the Cambodian Real Estate Market
June 6, 2022, 5:06 p.m.
Realestate News
International property consultancy, Savills, signed a contract earlier this month with Keystone Property Consultants to make the local firm the Cambodia-based associate of Savills.The move strengthens Savillsโ€™ presence in South East Asia, and increases Savillsโ€™ Asia Pacific presence to 58 operations across 17 countries in the region. Sunny Soo, Managing Director of Keystone, has been working in emerging real estate markets in Malaysia, China and Mongolia since 1997. He arrived in Cambodia in 2010 and continued in the same profession. Soo says, โ€œThe hardware of the Cambodian property market is upgrading quickly; in a very short space of time, the country has become host to a new breed of world class projects that will change the city skyline beyond recognition. The advancement of these developments also means the software must keep up, and this means more professional and holistic real estate consultancy is in demand.โ€Savills, with their Indochina representative in Vietnam, has been in close contact with developers in Cambodia for over a decade. Hence, the Cambodian extension, through the association with a local sought after consultancy, is only natural, says Soo.Neil MacGregor, Managing Director of Savills Vietnam, said, โ€œCurrent international clients of Savills were seeking investment consultancy and other services within Cambodia and Indochina region. The association with Keystone though will allow us to leverage both partiesโ€™ expertise, will further strengthening Savills portfolio across this dynamic region.โ€Soo also commented that a considerable amount of current projects underway in the Cambodian real estate market currently may encounter difficulties in the future due to lack of necessary preparation and calculated foresight in planning. โ€œWe are wishful for the opportunity to serve the industry and hopefully in time the market will recognize and welcome us as a valued consultantโ€, he said.Presently in the development of business infrastructure, expect to see the physical launch of the Savillsโ€™ association - Keystone in early 2016.
แžŸแŸ’แžœแŸ‚แž„แž™แž›แŸ‹แžขแŸ†แž–แžธแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž“แŸ…แž€แž˜แŸ’แž–แžปแž‡แžถ
แžŸแŸ’แžœแŸ‚แž„แž™แž›แŸ‹แžขแŸ†แž–แžธแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž“แŸ…แž€แž˜แŸ’แž–แžปแž‡แžถ
June 6, 2022, 5:01 p.m.
Realestate News
(แž‚แž˜แŸ’แžšแŸ„แž„แžขแž‚แžถแžšแžแŸ’แž–แžŸแŸ‹แŸ—แž“แŸ…แž€แŸ’แž“แžปแž„แžแŸ†แž”แž“แŸ‹แž–แžถแžŽแžทแž‡แŸ’แž‡แž€แž˜แŸ’แž˜แž€แžŽแŸ’แžแžถแž›แž‘แžธแž€แŸ’แžšแžปแž„แž—แŸ’แž“แŸ†แž–แŸแž‰)ย แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž‚แžบแž‡แžถแž›แŸ†แž“แŸ…แžŠแŸ’แž‹แžถแž“แž”แŸ‚แž”แžแŸ’แž˜แžธแž“แŸ…แž€แŸ’แž“แžปแž„แžšแžถแž‡แž’แžถแž“แžธแž—แŸ’แž“แŸ†แž–แŸแž‰ แžแŸแžแŸ’แžแžŸแŸ€แž˜แžšแžถแž” แž“แžทแž„แž€แŸ’แžšแžปแž„แž–แŸ’แžšแŸ‡แžŸแžธแž แž“แžปแŸ” แž‡แžถแž’แž˜แŸ’แž˜แžแžถแž€แž“แŸ’แž›แŸ‚แž„แžŸแŸ’แž“แžถแž€แŸ‹แž”แŸ‚แž”แž“แŸแŸ‡ แž”แžถแž“แž—แŸ’แž‡แžถแž”แŸ‹แž˜แž€แž‡แžถแž˜แžฝแž™แž“แžนแž„แž—แžถแž–แž”แŸ’แžšแžŽแžธแž แžŠแŸ„แž™แž˜แžถแž“แžšแžฝแž˜แž”แž‰แŸ’แž…แžผแž›แž‘แžถแŸ†แž„แž”แžšแžทแž€แŸ’แžแžถแžš แž“แžทแž„แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แž‘แžถแŸ†แž„แžขแžŸแŸ‹แžŠแžพแž˜แŸ’แž”แžธแž”แŸ†แž–แŸแž‰แžแžถแž˜แžแž˜แŸ’แžšแžผแžœแž€แžถแžšแžšแž”แžŸแŸ‹ แž˜แž“แžปแžŸแŸ’แžŸแž‡แŸ†แž“แžถแž“แŸ‹แžแŸ’แž˜แžธแŸ”ย แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž˜แžถแž“แž…แŸ†แž“แžฝแž“แž…แŸ’แžšแžพแž“แž“แŸ…แž€แŸ’แž“แžปแž„แž‘แžธแž€แŸ’แžšแžปแž„แžŸแŸ†แžแžถแž“แŸ‹แŸ—แž€แŸ’แž“แžปแž„แž”แŸ’แžšแž‘แŸแžŸแž€แž˜แŸ’แž–แžปแž‡แžถ แž”แŸ‰แžปแž“แŸ’แžแŸ‚แžแž˜แŸ’แž›แŸƒแžœแžทแž‰แž˜แžถแž“แž€แž˜แŸ’แžšแžทแžแžแŸ’แž–แžŸแŸ‹ แžแžŽแŸˆแž‘แŸ†แž แŸ†แž“แŸƒแž€แžถแžšแž€แžถแž“แŸ‹แž€แžถแž”แŸ‹แž‘แžผแž‘แŸ…แž“แŸ…แž˜แžถแž“แž€แž˜แŸ’แžšแžทแžแž‘แžถแž”แž“แŸ…แžกแžพแž™แŸ” แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž‚แžบแž‡แžถแž‡แž˜แŸ’แžšแžพแžŸแž‘แžธแž˜แžฝแž™แžŸแž˜แŸ’แžšแžถแž”แŸ‹แž˜แž“แžปแžŸแŸ’แžŸแžœแŸแž™แž€แŸ’แž˜แŸแž„ แžŠแŸ‚แž›แž…แž„แŸ‹แžšแžŸแŸ‹แž“แŸ…แžฏแž€แžšแžถแž‡แŸ’แž™ แž“แŸ…แž…แŸ†แž€แžŽแŸ’แžแžถแž›แž‘แžธแž€แŸ’แžšแžปแž„ แž‡แžทแžแž€แž“แŸ’แž›แŸ‚แž„แž’แŸ’แžœแžพแž€แžถแžš แž“แžทแž„แž…แŸ†แžŽแŸแž‰แž–แŸแž›แžœแŸแž›แžถแž€แŸ’แž“แžปแž„แž€แžถแžšแž‚แŸ’แžšแž”แŸ‹แž‚แŸ’แžšแž„แž•แŸ’แž‘แŸ‡แŸ” แžขแžถแž•แžถแžแž˜แŸแž“ แž€แžถแž“แŸ‹แžแŸ‚แž˜แžถแž“แž”แŸ’แžšแž‡แžถแž”แŸ’แžšแžทแž™แž—แžถแž–แžแŸ’แž›แžถแŸ†แž„แžกแžพแž„ แžŸแž˜แŸ’แžšแžถแž”แŸ‹แž‚แŸ’แžšแžฝแžŸแžถแžšแžŠแŸ‚แž›แž…แž„แŸ‹แž”แžถแž“แž—แžถแž–แžฏแž€แž‡แž“ แž“แžทแž„แž‚แžปแžŽแž—แžถแž–แž“แŸƒแž€แžถแžšแžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„แžขแž‚แžถแžšแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แŸ” แž€แžถแžšแž•แŸ’แž‚แžแŸ‹แž•แŸ’แž‚แž„แŸ‹แžขแžถแž•แžถแžแž˜แŸแž“แž€แŸแž€แŸ†แž–แžปแž„แž˜แžถแž“แž€แŸ†แžŽแžพแž“แžกแžพแž„แž•แž„แžŠแŸ‚แžš แž‡แžถแž˜แžฝแž™แž“แžนแž„แž€แžถแžšแž•แŸ’แžแž›แŸ‹แž‡แžผแž“แž‡แž˜แŸ’แžšแžพแžŸแžแŸ’แž˜แžธแž‡แžถแž…แŸ’แžšแžพแž“ แžŸแž˜แŸ’แžšแžถแž”แŸ‹แž€แžถแžšแž€แžถแž“แŸ‹แž€แžถแž”แŸ‹แž“แŸ…แž†แŸ’แž“แžถแŸ†แŸขแŸ แŸขแŸ  แž“แžทแž„แž†แŸ’แž“แžถแŸ†แž”แž“แŸ’แžแž”แž“แŸ’แž‘แžถแž”แŸ‹แŸ”แžแžพแžขแŸ’แž“แž€แž“แžนแž„แž‘แž‘แžฝแž›แž”แžถแž“แžขแŸ’แžœแžธแžแŸ’แž›แŸ‡แž“แŸ…แž€แŸ’แž“แžปแž„แž™แžผแž“แžธแžแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“?แž“แŸ…แž–แŸแž›แžขแŸ’แž“แž€แž…แžถแž”แŸ‹แž•แŸ’แžแžพแž˜แž‚แžทแžแž–แžธแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แžŸแž˜แŸ’แžšแžถแž”แŸ‹แž‡แžฝแž› แžฌแž‘แžทแž‰ แžขแŸ’แž“แž€แž‚แžฝแžšแžšแŸ†แž–แžนแž„แžแžถแžœแžถแž“แžนแž„ แž˜แžถแž“แž€แžถแžšแžแžปแž”แžแŸ‚แž„แž•แŸ’แž“แŸ‚แž€แžแžถแž„แž€แŸ’แž“แžปแž„แž”แŸ‚แž”แž”แžŸแŸ’แž…แžทแž˜แž”แŸ’แžšแž‘แŸแžŸ แž˜แžถแž“แž–แž“แŸ’แž›แžบแž…แŸแž‰แž…แžผแž›แž‚แŸ’แžšแž”แŸ‹แž‚แŸ’แžšแžถแž“แŸ‹ แž˜แžถแž“แž”แž„แŸ’แžขแžฝแž… แž˜แžถแž“แž‘แŸแžŸแž—แžถแž–แžŸแŸ’แžขแžถแž แž•แŸ’แž‘แŸ‡แž”แžถแž™แž˜แžถแž“แž”แŸ†แž–แžถแž€แŸ‹แžŠแŸ„แž™แž”แžšแžทแž€แŸ’แžแžถแžšแž‡แžถแž˜แžฝแž™แž˜แžปแžแž„แžถแžšแž–แŸแž‰แž›แŸแž‰ แžšแžถแž”แŸ‹แž”แž‰แŸ’แž…แžผแž›แž‘แžถแŸ†แž„แž…แž„แŸ’แž€แŸ’แžšแžถแž“แž…แŸ†แž แžปแž™ แž”แž“แŸ’แž‘แž”แŸ‹แž‘แžนแž€แžŸแŸ’แžขแžถแž แž‘แŸ†แž“แžพแž” แž˜แžถแž“แž€แž“แŸ’แž›แŸ‚แž„แž•แŸ’แž‘แžปแž€แžฅแžœแŸ‰แžถแž“แŸ‹ แž“แžทแž„แž‘แžผแžŠแžถแž€แŸ‹แžŸแŸ†แž›แŸ€แž€แž”แŸ†แž–แžถแž€แŸ‹แž‡แžถแžŠแžพแž˜ แŸ”แž›แŸ”แžแžพแžขแŸ’แž“แž€แž“แžนแž„แž‘แž‘แžฝแž›แž”แžถแž“แžขแŸ’แžœแžธแžแŸ’แž›แŸ‡แž“แŸ…แž€แŸ’แž“แžปแž„แžขแž‚แžถแžšแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“?แžขแž‚แžถแžšแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž‡แžถแž‘แžผแž‘แŸ…แž“แžนแž„แž˜แžถแž“แž”แŸ†แž–แžถแž€แŸ‹แž‡แžŽแŸ’แžแžพแžšแž™แž“แŸ’แž แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžŸแž“แŸ’แžแžทแžŸแžปแž (แžšแžฝแž˜แž‘แžถแŸ†แž„แž€แžถแžšแž€แžถแžšแž–แžถแžš แŸขแŸค แž˜แŸ‰แŸ„แž„ แž€แžถแžšแž”แŸ†แž–แžถแž€แŸ‹แž€แžถแŸ†แž˜แŸแžšแŸ‰แžถแžŸแžปแžœแžแŸ’แžแžทแž—แžถแž– แž“แžทแž„แž”แŸ’แžšแž–แŸแž“แŸ’แž’แž€แžถแžšแž–แžถแžšแžขแž‚แŸ’แž‚แžธแž—แŸแž™) แž€แž“แŸ’แž›แŸ‚แž„แž…แžแžกแžถแž“ แž“แžทแž„แž˜แŸ‰แžผแžแžผแž’แŸ†แž‘แžผแž›แžถแž™ แž€แž“แŸ’แž›แŸ‚แž„แž แžถแžแŸ‹แž”แŸ’แžšแžถแžŽ แžŠแŸ‚แž›แž”แŸ†แž–แžถแž€แŸ‹แžŠแŸ„แž™แž‚แŸ’แžšแžฟแž„แž”แžšแžทแž€แŸ’แžแžถแžšแž‘แŸ†แž“แžพแž” แž“แžทแž„แžขแžถแž„แž แŸ‚แž›แž‘แžนแž€แŸ” แž“แŸ…แž–แŸแž›แžขแŸ’แž“แž€แžšแžŸแŸ‹แž“แŸ…แž€แŸ’แž“แžปแž„แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“ แžขแŸ’แž“แž€แž“แžนแž„แž˜แžทแž“แž–แžทแž”แžถแž€แž€แŸ’แž“แžปแž„แž€แžถแžšแž‡แž‡แŸ‚แž€แžŠแŸแž‰แžŠแŸ„แž›แž‡แžถแž˜แžฝแž™แž˜แŸ’แž…แžถแžŸแŸ‹แžขแž‚แžถแžšแž“แŸ„แŸ‡แž‘แŸ แž–แžถแž€แŸ‹แž–แŸแž“แŸ’แž’แž“แžนแž„แž€แžถแžšแž”แŸ’แžšแž˜แžผแž›แžแŸ’แž›แŸƒแžˆแŸ’แž“แžฝแž›แž‡แžฝแž› แžŠแŸ‚แž›แž˜แžถแž“แž›แž€แŸ’แžแžŽแŸˆแžœแžทแž‡แŸ’แž‡แžถแž‡แžธแžœแŸˆ แž“แžทแž„แž€แžถแžšแž†แŸ’แž›แžพแž™แžแž”แž†แžถแž”แŸ‹แžšแž แŸแžŸแžŸแž˜แŸ’แžšแžถแž”แŸ‹แžŸแŸ†แžŽแžพแž‡แžฝแž›แž‡แžปแž›แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แŸ” แžแŸ’แžšแžผแžœแž”แŸ’แžšแžถแž€แžŠแžแžถแžขแŸ’แž“แž€แž‘แž‘แžฝแž›แž”แžถแž“แž€แžทแž…แŸ’แž…แžŸแž“แŸ’แž™แžถแžŠแŸแž›แŸ’แžขแž˜แžฝแž™ แžŸแžผแž˜แž˜แžพแž›แž‚แž“แŸ’แž›แžนแŸ‡แž˜แžฝแž™แž…แŸ†แž“แžฝแž“แž“แŸ…แž‘แžธแž“แŸแŸ‡!แž‘แžถแž€แŸ‹แž‘แž„แž“แžนแž„แž…แŸ†แžŽแžปแž…แž‘แžถแŸ†แž„แž“แŸแŸ‡แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แžขแžถแž…แžšแžฝแž˜แž”แž‰แŸ’แž…แžผแž›แž‘แžถแŸ†แž„แžแŸ’แž›แŸƒแžŸแŸแžœแžถแž‚แŸ’แžšแž”แŸ‹แž‚แŸ’แžšแž„แžขแžถแž•แžถแžแž˜แŸแž“ แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžŸแž˜แŸ’แžขแžถแžแž•แŸ’แž‘แŸ‡ แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แž”แŸ„แž€แž‚แž€แŸ‹ แžขแŸŠแžธแž“แž’แžพแžŽแžทแžแž›แŸ’แž”แžฟแž“แž›แžฟแž“ย  แž‘แžผแžšแž‘แžŸแŸ’แžŸแž“แŸแžแŸ’แžŸแŸ‚แž€แžถแž” แž˜แŸ‰แžถแžŸแŸŠแžธแž“แž‘แžนแž€แž€แŸ’แžแŸ… แž‘แžนแž€แžแŸ’แžšแž‡แžถแž€แŸ‹ แž“แžทแž„แžขแžถแž„แž„แžผแžแž‘แžนแž€แŸ” แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž‡แžถแž‰แžนแž€แž‰แžถแž”แŸ‹แž€แŸแžšแžฝแž˜แž”แž‰แŸ’แž…แžผแž› แž‘แžถแŸ†แž„แžŸแŸแžœแžถแž˜แŸ’แž˜แž‘แžผแž‘แŸ…แž•แŸ’แžŸแŸแž„แŸ—แž•แž„แžŠแŸ‚แžšแŸ”แžแžพแžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แž“แŸ…แž—แŸ’แž“แŸ†แž–แŸแž‰แž˜แžถแž“แžแž˜แŸ’แž›แŸƒแžŠแžผแž…แž˜แŸ’แžแŸแž…?ย แžแžถแž„แž€แŸ’แžšแŸ„แž˜แž“แŸแŸ‡แž‡แžถแž€แžถแžšแž”แŸ’แžšแŸ€แž”แž’แŸ€แž”แžแž˜แŸ’แž›แŸƒแžšแžœแžถแž„แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“ แž“แžทแž„แžขแžถแž•แžถแžแž˜แŸแž“แž’แž˜แŸ’แž˜แžแžถ (แžแž˜แŸ’แž›แŸƒแž•แŸ’แžขแŸ‚แž€แž›แžพแž‘แžทแž“แŸ’แž“แž“แŸแž™แžŠแŸ‚แž›แž˜แžถแž“แž“แŸ…แž›แžพ Realestate.com.kh)แŸ– แž”แŸ’แžšแž—แŸแž‘แžขแžถแž•แžถแžแž˜แŸแž“แž€แž˜แŸ’แžšแžทแžแž‘แžถแž” (แžŠแžปแž›แŸ’แž›แžถแžš)แž€แž˜แŸ’แžšแžทแžแž˜แž’แŸ’แž™แž˜ (แžŠแžปแž›แŸ’แž›แžถแžš)แž€แž˜แŸ’แžšแžทแžแžแŸ’แž–แžŸแŸ‹ (แžŠแžปแž›แŸ’แž›แžถแžš)แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“แŸฆแŸ แŸ  - แŸจแŸ แŸ ย แŸจแŸ แŸ  - แŸกแŸคแŸ แŸ แŸก,แŸฅแŸ แŸ  ++แžขแžถแž•แžถแžแž˜แŸแž“ แž’แž˜แŸ’แž˜แžแžถแŸฃแŸ แŸ  - แŸฅแŸ แŸ ย แŸฅแŸฅแŸ  - แŸฉแŸ แŸ แŸกแŸ แŸ แŸ  ++แžŠแžพแž˜แŸ’แž”แžธแž‘แž‘แžฝแž›แž”แžถแž“แž–แŸแžแŸŒแž˜แžถแž“แžแŸ’แž˜แžธแŸ—แžขแŸ†แž–แžธแžœแžทแžŸแŸแž™แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แž“แŸ…แž€แŸ’แž“แžปแž„แž”แŸ’แžšแž‘แŸแžŸแž€แž˜แŸ’แž–แžปแž‡แžถ แž“แžทแž„แž€แžถแžšแžœแžทแžœแžแŸ’แžแž“แŸแž“แžถแž“แžถแž“แŸ…แž€แŸ’แž“แž„แžœแžทแžŸแŸแž™แž“แŸแŸ‡ แžŸแžผแž˜แž’แŸ’แžœแžพแž€แžถแžšแž‘แžถแž‰แž™แž€แž€แž˜แŸ’แž˜แžœแžทแž’แžธแž”แŸ’แžšแžพแž”แŸ’แžšแžถแžŸแŸ‹แž“แŸ…แž›แžพแž‘แžผแžšแžŸแŸแž–แŸ’แž‘แžŠแŸƒแžšแž”แžŸแŸ‹แž™แžพแž„แžฅแžกแžผแžœแž“แŸแŸ‡แŸ” แžŸแž˜แŸ’แžšแžถแž”แŸ‹แž€แž˜แŸ’แž˜แžœแžทแž’แžธ iOSย แž“แžทแž„ย AndroidแŸ”แžขแŸ’แž“แž€แžŸแŸ’แžœแŸ‚แž„แžšแž€แžŸแŸแžœแžถแž€แž˜แŸ’แž˜แžขแžถแž•แžถแžแž˜แŸแž“ แž‡แžถแž„ แŸขแŸ แŸ  แžŸแž˜แŸ’แžšแžถแž”แŸ‹แž‡แžฝแž›แž“แŸ…แž€แž˜แŸ’แž–แžปแž‡แžถ แžแžถแž˜แžšแž™แŸˆแž‚แŸแž แž‘แŸ†แž–แŸแžš Realestate.com.kh! แž›แŸ„แž€แžขแŸ’แž“แž€แž€แŸแžขแžถแž…แž…แžผแžšแžขแžถแž“แž˜แž‚แŸ’แž‚แžปแž‘แŸแžŸแž“แŸƒแž€แžถแžšแžœแžทแž“แžทแž™แŸ„แž‚แž†แŸ’แž“แŸ†แžถแŸขแŸ แŸกแŸฉแžšแž”แžŸแŸ‹แž™แžพแž„แž”แžถแž“แž•แž„แžŠแŸ‚แžš!แžขแžแŸ’แžแž”แž‘แžŠแŸ„แž™
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Serviced Apartment Supply Bump
Serviced Apartment Supply Bump
June 6, 2022, 5:05 p.m.
Realestate News
In the first half of 2015, serviced apartment supply bumped up 14 per cent versus 2014 - meanwhile, rental prices remained similar to the year prior as a host of new offerings entered the local market.ย CBRE Cambodiaโ€™s recent report highlights that a total 349 additional serviced apartment units will come online within the local marketplace before mid-2016. 5797 units presently exist, and 11 more condo projects are currently underway. Check out CBRE's listings on Realestate.com.khHowever, the supply appears to be overshooting the current demand. Want to learn more about serviced apartment expectations?Overall occupancy rates of serviced apartment units have declined from 90 percent to around 70 percent at the end of 2014. However, showing slight improvement, this occupancy across all serviced apartment units rate grew to 80 percent this year, according to the CBRE report.ย Check out a video interview about how to find the best expat rentals in Phnom Penh. According to the report, on average, for a serviced apartment unit, a one bedroom unit or studio with 50 to 55 square meters varies from $1,000 to $1,500, two bedroom units with 70 square meters varies from $2,000 to $2,500 and three bedroom units with 110 square meters varies from $3000 to $3,500 per month, while โ€œpenthouseโ€units with 250 square meters are priced between $4,000 to $5,000 per month, according to the report, depending on the architecture and design.ย Make sure you get a good contract, here are a few tips!Check out over 200 serviced apartments for rent in Cambodia on Realestate.com.kh
Serious Investment for Condos in Sihanoukville
Serious Investment for Condos in Sihanoukville
June 6, 2022, 5:06 p.m.
Realestate News
Sihanoukville is becoming more than just a place to soak up the sun on a slow weekend; itโ€™s attracting the interest of serious investors looking to cash-in on a growing middle class in the coastal city.Trade and tourism are the cityโ€™s biggest revenue generators and with growing numbers of tourists and business people who come to invest for condos in Sihanoukville, especially from China and the rest of Asia, property developers are looking for new opportunities to capture these growing markets.One of the upcoming properties set to make an impression of condos in Sihanoukville is Dโ€™Seaview, a 735-unit condominium to be located near Sokha Beach. The project is backed by Singaporean agribusiness company HLH Group Ltd under their newly formed Camhomes branch.ย  Through private subsidies, the company is marketing units as low as $33,000 for Cambodian citizens โ€“ but this subsidized investment opportunity is running out at the end of December 2015. Construction on the project is expected to begin later this year, with a completion date of 2018. New families, young professionals and other prospective buyers will have the chance to secure one of the beautifully appointed units on offer at Dโ€™Seaview available from as little as $675 per square metre. Dโ€™Seaview will boast state-of-the-art facilities including a swimming pool, a fitness centre and sauna, function rooms and a childrenโ€™s playground, all catering to a modern family lifestyle and all with a view over the ocean. Real estate experts say major condominium projects such as Dโ€™Seaview will bring international standards to the city and draw more sophisticated investors. See full details of D'Seaview, condos in Sihanoukville here! Clement Dupont, a property market watcher and investor based in Sihanoukville, said Dโ€™Seaview will give the city a new image, one of luxury and liveability rather than just an affordable holiday destination. โ€œThis will make people realize that condos in Sihanoukville is a worthwhile place to invest money and attract homebuyers who are looking to live and work in a comfortable, classy environment, as the cityโ€™s economy grows from year to year.โ€ โ€œItโ€™ll definitely be interesting to see how the property market pans out once Dโ€™Seaview is complete,โ€ he added. In the first eight months of the year, Sihanoukville airport handled a total of 65,698 passengers, with total arrivals at 35,882, up 149 per cent and 140 per cent year-on-year, respectively. Lucky Air recently launched direct flights from Kunming to Sihanoukville, becoming the first Chinese carrier to offer year-round regular scheduled service to Sihanoukville. โ€œMany Chinese have come here to invest and live and work,โ€ said Y Thearin, a Sihanouk Provincial Hall representative. โ€œTheir investment in the city has become important to the way condos in Sihanoukville is moving forward,โ€ he added. The Chinese influence is certainly becoming noticeable as Chinese-backed casinos and hotels multiply rapidly. One of the largest properties to open recently is the 135-room White Sand Palace, which will also feature a casino set to be open next month, in Occheuteal. The casino industry has doubled since last year to 15 casinos, with an additional five applications pending approval. Spurring this growth is the potential of online gambling which is being offered from the majority of Sihanoukville casinos, says the spokesperson Ministry of Economy and Finance, Ros Phirun. Paralleling Sihanoukvilleโ€™s growth is its property market, with land prices going up fast especially in areas where infrastructure is being improved, says Ruslan Gronov, manager of Sihanoukvilla Real Estate and Consulting. โ€œThe new road that is being upgraded from Sokha to Independence beach is resulting in more land available for sale, while prices are also going up around Otres beach where the road joining National Road 4 and the airport are going up.โ€ Gronov says the rental market for small residential properties has not changed much amid the cityโ€™s growth but rental prices for commercial properties and full buildings have gone up considerably since November last year as the hospitality industry thrives and Chinese business people living in the city push up demand. Here is another article considering the benefits of living and investing in Sihanoukville! Gronov said the lowest price for a one-bedroom apartment with a kitchen is around $250 per month, located in the downtown area away from the beach. For a similar property near the beach the price is around $100 more. โ€œIf you rent commercial and full building, the prices have changed a lot but for residential and small houses itโ€™s the same.โ€ โ€œIt is a good time to invest here in condos in Sihanoukville. Some areas are still growing and the price is growing fast.โ€ Check out the investment opportunity here!Gronov added that the cheapest land prices are around $200 per square meter for land not close the beach, while some of the highest prices are in Otres and the Golden Lion, the cityโ€™s most prominent landmark just a short walk away from Occheuteal Beach where land can go for about $1,000 per square metre. Sihanoukville has maintained a crucial position in the countryโ€™s trade and manufacturing sectors and is set to capitalize on this as the government looks to construct a 190-kilometre-long, 25-metre-wide expressway linking Phnom Penh and Sihanoukville on National Road 4. This project is said to begin next year and finish in 2020. Sihanoukville is home to the countryโ€™s largest port and one of the largest special economic zones, but set to create competition is the development of the Stung Hav Port. LCH Investment Group acquired the more than one thousand hectare Stung Hav site in 2005 and began in 2007 constructing the siteโ€™s small port about 4 km from the entrance. The smaller port opened in July 2012 and handles general cargo but not containers. However as of January this year, American and Singaporean investors pledged investment that will result in construction of the port starting in January 2016. This will take approximately two years to build and once complete, hopes to attract the business of around 75 factories in the Sihanoukville Special Economic Zone who currently use the Sihanoukville port for shipping. Management says the first step will be to build the International port next year and then the economic zone, and hopes to offer more competitive prices to the main Sihanoukville Port and SEZ, which has around 75 mainly Chinese-owned factories who currently use the Sihanoukville port for shipping. Take a look at D'Seaview's convenient finance terms here.
Condo Property Management, Forgotten Risk
Condo Property Management, Forgotten Risk
June 6, 2022, 5:05 p.m.
Realestate News
In their purchasing decision condo buyers often pay little or no attention to who will take charge of property management upon completion of the development and what quality property management actually costs. Without effective property management and the necessary according fees, the impact can be catastrophic on re-sale value and the ability to rent a condo, according to Simon Griffiths, associate director at CBRE Cambodia. Check out CBRE's property listings on Realestate.com.kh today!Exclusively for Post Property, Griffiths explains why developers and condo buyers in Cambodia should consider more on property management, management service fees and what it really means to their purchasing decision. โ€œWhile the real estate market in Cambodia is โ€˜hotโ€™ and new condo developments are rising out of the ground all over Phnom Penh, a rarely discussed topic is how these new condos will be managed once they are built and online. With property management (PM) being a decisive factor in the enjoyment of a condo, not to mention potential re-sale values and rental returns, the topic neither receives attention nor interest from many buyers. Understandably and rightfully so. Price, location, developer reputation, facilities and amenities are key determining factors on which a condo buyer will make a โ€˜buy or notโ€™ decision. However, property management and according fees are crucial components when it comes to owning a condo. In one sentence: Buyers beware of low management service fees (MSF)! Consider buying a Porsche sports car. Would you then use the cheapest gasoline off a street vendor or pay the extra 20 cents a litre for the premium gasoline that is meant to protect the engine? Would you clean your car regularly at the additional cost or let it be covered in dirt? You would want to protect and enjoy your investment. The same principle holds true for property investment. Low cost PM will manifest in low quality PM and will quickly become visible to buyers and renters even in the short term. With poor management, the value of a condo investment is at risk, not to mention the enjoyment of anyone living at the condo. Why then, so often, do buyers invest in premium condos and then actively seek-out and desire lowest price MSFโ€™s? Letโ€™s set put this discussion in Phnom Penhโ€™s market context. The often so called โ€˜standard market priceโ€™ for condo management service fees in Phnom Penh is set between $0.5 and $1 per square metre and buyers commonly consider $1 per square metre overly expensive. Consider then a scenario with 100 condominium units at 100 square metre each. If you manage this building at $0.50 per square metre the PM monthly budget is $5,000. This will need to cover a building manager, accountants, handymen, technicians; building insurance; cleaning; 24 hours security; cleaning materials, mechanical and electrical parts and so much more. Simply put, this budget may keep the building functioning but only just, and the initial โ€˜on the surfaceโ€™ benefit of a low MSF would quickly transpire into low safety standards, broken machinery and equipment and a poor condition building in a short space of time. ย Check out some new condo projects here!Now, would you desire a low price MSF or consider paying more for quality? But even at $1 per square metre MSF for the building in the above scenario, while it would be possible to provide functional PM, there is little room for high quality services and sacrifices would need to be made in cleaning, security and mechanical and electrical maintenance to keep within the budget, thus showing that the MSF so called โ€˜market rateโ€™ (in some cases) is artificially low and being driven down by buyers who are mistakenly prioritizing โ€˜low priceโ€™ PM as a positive factor in a purchasing decision. In effect, condo buyersโ€™ MSF expectations are often too low set by a โ€˜market rateโ€™ that makes it difficult for developers to truly deliver promises of high quality. Couple this with the successive increases in minimum wage levels, and achieving a quality PM service becomes an increasingly difficult proposition. In summary, the so called โ€˜market priceโ€™ for MSF in Phnom Penh in many cases is not feasible and creates a situation where there is a disconnect between buyer expectations and what will actually be delivered in terms of PM service quality. The result is a situation where lowering MSFs effectively may secure sales but creates unrealistic expectations. Selling high quality PM with a low budget makes it almost impossible to deliver on such promises. So how should the developers and buyers think and behave? Developers should not be looking for the easy or quick way out of setting an unrealistic MSF to achieve extra sales. This is flawed and would inevitably lead to unsatisfied buyers come the time when the building opens and is short sighted. Developers need to invest time, energy and knowledge to ensure relevant PM services are installed and embedded within a development before they โ€˜exitโ€™ and ensure MSFโ€™s relevance to the quality of the development. Buyers should consider more than the bottom-line price in relation to MSF. Consider your expectations, quality and what you want from your condo investment. If you desire a low price, expect low quality and manage your expectations accordingly. Simon Griffiths,ย associate director at CBRE Cambodia, Phnom Penh Post, Post Property.ย Check out CBRE's property listings on Realestate.com.kh today!
Property Developers Consider CSX Valuations
Property Developers Consider CSX Valuations
June 6, 2022, 5:05 p.m.
Realestate News
As interest grows in the nascent Cambodia Securities Exchange amid announcements of new floats tentatively scheduled for 2016, real estate agencies push for approval to become panel valuersโ€”the sole legal mediator to value property holdings while pursuing an IPO. Thus far, members of just six real estate agencies have been granted approval for IPO appraisals in Cambodia: V Trust Appraisal, Real Estate VMC Cambodia, CBRE Cambodia, Bonna Realty Group and the most recent entrant joining this month, Knight Frank Cambodia.Although activity on the Cambodia Securities Exchange (CSX) was initially slow, with the Phnom Penh Water Supply Authority listing in 2012 and Taiwanese-owned Grand Twins International listing in mid-2014, Ross Wheble, country manager for Knight Frank Cambodia, believes that the recent activity indicates growing confidence in the Cambodian economy and finance industry as a whole. โ€œWhich is a positive sign for Cambodiaโ€™s real estate and construction industry,โ€ he said. The recent announcement that Hong Kong-based property developers, Eastland Development, expressed interest in listing on the CSX follows a number of similar announcements by companies such as the Phnom Penh Special Economic Zone (PPSEZ), TY Fashion and Sihanoukville Autonomous Port. [caption id="attachment_79853" align="aligncenter" width="297"] Mr Kuy Vat, VTrust Appraisal Co., Ltd.[/caption] If Eastlandโ€™s promises come to fruition and other real estate developers follow suit, โ€œthis shall enable 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,โ€ said Wheble. Regardless if a company like Eastland pursues a listing, a publicly traded entity would bring in the much needed transparency to a vague property market where financial capital and level of investment is often kept in the dark. But besides that, it would allow more investors to enter the market without having to put down the large sums to acquire property directlyโ€”and at lower risk. โ€œSmall investors will have a chance to invest in the property market,โ€ says Kuy Vat, president VTrust Appraisal, meanwhile โ€œthe developer can mobilize more cash and spread the risk. Of course, the CSX will also receive a boost in public confidence with the announcement.โ€ [caption id="attachment_78669" align="aligncenter" width="255"] Ross Wheble - Country Manager of Knight Frank Cambodia[/caption] Simon Griffiths, associate director at CBRE Cambodia, suggests that for property developers with an established and diverse portfolio, new projects in the pipeline, and a well-financed organisation, โ€œrisk is diversified and can be stabilized across sectors to some extentโ€ by joining the stock exchange. While diversity is important, especially in the real estate and property developersย market which often faces turbulence, โ€œas we saw during the last global economic crash,โ€ said Griffiths, a certain amount of risk will always remain.ย โ€œBuyers of any stock would consider this and hedge their bets,โ€ he said. However, if more property developers join the CSX, Griffithโ€™s believes that it would allow for investors to capitalize on developments. It could also issue in the unique potential for Real Estate Investment Trusts (REITs)โ€”a type of security that invests in real estate by combining property or mortgages, thus providing more liquidity and high dividend yields. While Kuy believes that there would certainly be an increase in liquidity, additionally, it would also provide a secondary market for investors who want to easily trade out of their investment.ย โ€œThis means adding more lubricant to transactions [across other] sectors,โ€ he said. [caption id="attachment_79857" align="aligncenter" width="225"] Simon Griffiths, CBRE[/caption] But while it is highly debatable if foreign property developers are even considering listing, property valuation is an important step in the IPO process that requires companies to open their books and disclose their assets. โ€œA company is required to have its real estate assets valued to determine its Net Asset Value (NAV),โ€ explained Wheble. But with only six accredited panel valuers currently operating in Cambodia, Griffiths highlighted the high standards required to gain entrance into the club. A foreign agent has to be security checked in their home country and in Cambodia and academic and relevant valuation experience and qualifications need to be verified, he said. One such accreditor that can audit an agent or a real estate company that wishes to be a panel valuer, is the Royal Institute of Chartered Surveyorsโ€”a London based organization that values property worldwide. โ€œ[Royal Institute of Charted Surveyors] adheres to strict and internationally recognized valuations guidelines, practices and methodologies,โ€ said Griffiths. For smaller, local real estate agencies, the demand for CSX valuations remains too small of a market to service, and with qualification thresholds currently out of reach. [caption id="attachment_79081" align="aligncenter" width="300"] Kim Heang. CVEA[/caption] โ€œUntil this stock exchange grows significantly,โ€ Kim Heang, president for the CVEA, suggests, โ€œlocal agents will continue to focus on [regular] property valuation.โ€ โ€œIt is great to have more, and more professional, panel valuers in the industry - so that we can compete with professionalism and quality rather than on price,โ€ said Kuy. However, โ€œconsidering the market and volume of assignments currently available, the CSX valuations market for local agents likely wonโ€™t grow dramatically in the short term.โ€
Featured Agent Profile: Furi Real Estate
Featured Agent Profile: Furi Real Estate
June 6, 2022, 5:05 p.m.
Realestate News
Realestate.com.kh would like to present another of our featured agencies โ€“ Furi Real Estate Co., Ltd.Furi Real Estate is the largest pure condo agency in Cambodia, in regards to agencies, agents and overall sales. In late 2012, Furiย Real Estate founded a trade mark limited company under the new brand name: FURI Real Estate Co., Ltd. Furi Real Estate attributes 98 per cent of their condo sales over the last three years to Khmer buyers, according to CEO Ly Senleap.ย Furi Real Estate encourages locals to sell land, pool their savings and buy sets of condo units as live-in investments. By buying several units or a floor at one time, these buyers can save on market prices. Furi Real Estate currently has an exclusive listing over โ€œThe Bay,โ€ an already-renowned condo complex being built on Chroy Changvar by the Singaporean-based TEHO-SBG Development Co., Ltd. Check out The Bay, from Furi, today on Realestate.com.kh today!"Our vision is clear," says Senleap: "To create a state of the art experience in buying and selling real estate, in Cambodia and Southeast Asia. We pride ourselves in understanding clients needs by building trust and developing lifetime relationships." Furi Real Estate seeks to provide excellence inย investment services. Services always push to ensure outstanding and accountable services with integrity to customers, honesty in commitments, transparency with no hidden costs, building relationships and, ultimately, achieving great results. Invest with the best!ย See another superb development from Furi - The Diamond Twin Tower! Furi Real Estate is unique organization built around understanding theirย clientsโ€™ true need of investment. Whether it is location, size, or price - Furi willย have the right fit for your needs through our property network across Cambodia, Singapore, Indonesia, and Hong Kong. Furi'sย real estate, product design, development, sales strategy management, and networking services are customized to meet each clientโ€™s unique needs. Check out two exciting listings from Furi Real Estate on Realestate.com.kh today:The Bay and Diamond Twin Tower.
แžแžพโ€‹แžขแŸ’แž“แž€โ€‹แž€แŸ†แž–แžปแž„โ€‹แžŠแžถแž€แŸ‹โ€‹แž›แž€แŸ‹โ€‹แžขแž…แž›แž“โ€‹แž‘แŸ’แžšแž–แŸ’แž™โ€‹แžšแž”แžŸแŸ‹โ€‹แžขแŸ’แž“แž€โ€‹แžฌโ€‹? แžŸแŸ’แžœแŸ‚แž„แž™แž›แŸ‹โ€‹แž–แžธโ€‹แž—แžถแž–แžแžปแžŸแž‚แŸ’แž“แžถโ€‹แžšแžœแžถแž„โ€‹แž”แŸ’แžšแžถแž€แŸ‹โ€‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡โ€‹แž‘แžทแž‰ แž“แžทแž„โ€‹แž”แŸ’แžšแžถแž€แŸ‹โ€‹แž€แž€แŸ‹
แžแžพโ€‹แžขแŸ’แž“แž€โ€‹แž€แŸ†แž–แžปแž„โ€‹แžŠแžถแž€แŸ‹โ€‹แž›แž€แŸ‹โ€‹แžขแž…แž›แž“โ€‹แž‘แŸ’แžšแž–แŸ’แž™โ€‹แžšแž”แžŸแŸ‹โ€‹แžขแŸ’แž“แž€โ€‹แžฌโ€‹? แžŸแŸ’แžœแŸ‚แž„แž™แž›แŸ‹โ€‹แž–แžธโ€‹แž—แžถแž–แžแžปแžŸแž‚แŸ’แž“แžถโ€‹แžšแžœแžถแž„โ€‹แž”แŸ’แžšแžถแž€แŸ‹โ€‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡โ€‹แž‘แžทแž‰ แž“แžทแž„โ€‹แž”แŸ’แžšแžถแž€แŸ‹โ€‹แž€แž€แŸ‹
June 6, 2022, 5:05 p.m.
Realestate News
แž–แŸแž›แžŠแŸ‚แž›แž›แŸ„แž€แžขแŸ’แž“แž€แž›แž€แŸ‹ แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™ แžขแŸ’แž“แž€แž‚แžฝแžšแžแŸ‚แž™แž›แŸ‹แžฒแŸ’แž™แž…แŸ’แž”แžถแžŸแŸ‹แž–แžธแž—แžถแžŸแžถแžŠแŸ‚แž›แž‚แŸแž”แŸ’แžšแžพแž€แŸ’แž“แžปแž„แžœแžทแžŸแŸแž™แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แŸ” แžขแŸ’แž“แž€แžแŸ’แžšแžผแžœแžแŸ‚แžขแžถแž…แž”แŸ‚แž„แž…แŸ‚แž€แžฒแŸ’แž™แžŠแžถแž…แŸ‹แžšแžœแžถแž„แž”แŸ’แž›แž„แŸ‹แžŠแžธแžšแžนแž„ แž“แžทแž„แž”แŸ’แž›แž„แŸ‹แžŠแžธแž‘แž“แŸ‹ แž€แžถแžšแž”แž„แŸ‹แžšแŸ†แž›แžŸแŸ‹ แž“แžทแž„แž€แžถแžšแžแŸ’แž…แžธแž”แŸ’แžšแžถแž€แŸ‹ แž€แŸแžŠแžผแž…แž‡แžถแž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡แž‘แžทแž‰ แž“แžทแž„แž”แŸ’แžšแžถแž€แŸ‹แž€แž€แŸ‹แŸ”แž˜แžถแž“แžขแŸ’แž“แž€แž›แž€แŸ‹แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แž‡แžถแž…แŸ’แžšแžพแž“ แž“แžทแž„แžขแŸ’แž“แž€แž‘แžทแž‰แž˜แžฝแž™แž…แŸ†แž“แžฝแž“ แžŠแŸ‚แž›แž™แž›แŸ‹แžแžถ แž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž‘แžถแŸ†แž„แž–แžธแžšแž“แŸแŸ‡ แž˜แžถแž“แž›แž€แŸ’แžแžŽแŸˆแžŠแžผแž…แž‚แŸ’แž“แžถ แž”แŸ‰แžปแž“แŸ’แžแŸ‚แžแžถแž˜แž–แžทแžแž‘แŸ… แž‚แžบแž˜แžทแž“แž˜แŸ‚แž“แž“แŸ„แŸ‡แž‘แŸแŸ” แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แžขแŸ’แž“แž€แž…แžถแž”แŸ‹แž•แŸ’แžแžพแž˜แž›แž€แŸ‹แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€ แžขแŸ’แž“แž€แžแŸ’แžšแžผแžœแžแŸ‚แž™แž›แŸ‹แžฒแŸ’แž™แž…แŸ’แž”แžถแžŸแŸ‹แž–แžธแž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž‘แžถแŸ†แž„แž–แžธแžšแžšแž”แŸ€แž” แž“แŸแŸ‡ แž–แŸ’แžšแŸ„แŸ‡แž€แžถแžšแž™แž›แŸ‹แž…แŸ’แžšแžกแŸ†แž’แŸ’แžœแžพแžฒแŸ’แž™แžขแŸ’แž“แž€แžแžถแžแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž‡แžถแž…แŸ’แžšแžพแž“แŸ”!แž”แŸ’แžšแžถแž€แŸ‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡แž‘แžทแž‰ แž”แŸ’แžšแžถแž€แŸ‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡แž‘แžทแž‰ แž‚แžบแž‡แžถแž”แŸ’แžšแžถแž€แŸ‹แžŠแŸ‚แž›แž”แž„แŸ‹แž‘แŸ…แžฒแŸ’แž™แž˜แŸ’แž…แžถแžŸแŸ‹แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™ แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แžขแŸ’แž“แž€แž‘แžทแž‰แž”แž„แŸ’แž แžถแž‰แž–แžธแž…แŸ†แžŽแžถแž”แŸ‹แžขแžถแžšแž˜แŸ’แž˜แžŽแŸแž€แŸ’แž“แžปแž„แž€แžถแžšแž‘แžทแž‰แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แž˜แžฝแž™แž“แŸ„แŸ‡แŸ” แž…แŸ†แž“แžฝแž“แž‘แžนแž€แž”แŸ’แžšแžถแž€แŸ‹แž“แŸแŸ‡แžขแžถแž…แž…แžถแž”แŸ‹แž–แžธ แŸฅ แž—แžถแž‚แžšแž™แž“แŸƒแžแž˜แŸ’แž›แŸƒแžŸแžšแžปแž” แžฌแžแŸ’แžšแžนแž˜แžแŸ‚ แŸคแŸ แŸ  แž‘แŸ… แŸฅแŸ แŸ  แžŠแžปแž›แŸ’แž›แžถแžš แž”แŸ‰แžปแžŽแŸ’แžŽแŸ„แŸ‡แŸ” แž”แŸ’แžšแžถแž€แŸ‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡แž‘แžทแž‰ แž‚แžบแž‡แžถแž€แžถแžšแžŠแžถแž€แŸ‹แž€แŸ’แžšแŸ„แž˜แžˆแŸ’แž˜แŸ„แŸ‡แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แž‘แžทแž‰แž แžพแž™แž‡แžถแž•แŸ’แž“แŸ‚แž€แž˜แžฝแž™แž“แŸƒแž”แŸ’แžšแžถแž€แŸ‹แž€แž€แŸ‹แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แž€แžถแžšแž‘แžทแž‰แž”แžถแž“แžŠแŸ†แžŽแžพแžšแž€แžถแžšแžšแžฝแž…แžšแžถแž›แŸ‹แŸ” แž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž”แŸ‚แž”แž“แŸแŸ‡ แž‡แžถแžœแžทแž’แžธแžŸแžถแžŸแŸ’แžšแŸ’แžŠแž˜แžฝแž™แž€แŸ’แž“แžปแž„แž€แžถแžšแž”แž‰แŸ’แžˆแž”แŸ‹แžขแŸ’แž“แž€แž‘แžทแž‰แž•แŸ’แžŸแŸแž„แž‘แŸ€แžแž€แŸ’แž“แžปแž„แž€แžถแžšแž‘แžทแž‰แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แž“แŸ„แŸ‡แžŠแžพแž˜แŸ’แž”แžธแž—แžถแž– แž„แžถแž™แžŸแŸ’แžšแžฝแž›แž€แŸ’แž“แžปแž„แžแžŽแŸˆแž–แŸแž›แžŠแŸ‚แž›แžขแŸ’แž“แž€แž’แŸ’แžœแžพ แž€แžถแžšแžŸแž˜แŸ’แžšแŸแž…แž…แžทแžแŸ’แžแž‡แžถแž…แžปแž„แž€แŸ’แžšแŸ„แž™แŸ” แž‘แŸ„แŸ‡แž‡แžถแž™แŸ‰แžถแž„แžŽแžถแž€แŸแžŠแŸ„แž™ แžœแžถแž˜แžทแž“แž˜แŸ‚แž“แž‡แžถแž€แžถแžšแž‘แžทแž‰แžŠแŸ‚แž›แž”แŸ’แžšแžถแž€แžŠแž…แŸ’แž”แžถแžŸแŸ‹แž›แžถแžŸแŸ‹แž˜แžฝแž™แž‘แŸแŸ” แž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡แž‘แžทแž‰ แžขแžถแž…แž…แžถแžแŸ‹แž‘แžปแž€แž”แžถแž“แžแžถ แž‚แŸ’แžšแžถแž“แŸ‹แžแŸ‚แž‡แžถแž€แžถแžšแž”แž„แŸ’แž แžถแž‰แž–แžธแž”แŸ†แžŽแž„แž€แŸ’แž“แžปแž„แž€แžถแžšแž‘แžทแž‰แž”แŸ‰แžปแžŽแŸ’แžŽแŸ„แŸ‡แŸ” แžšแžธแžฏแžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แž“แŸ„แŸ‡แž“แŸ…แžแŸ‚แžขแžถแž…แžŠแžถแž€แŸ‹ แž›แž€แŸ‹แž“แŸ…แž›แžพแž‘แžธแž•แŸ’แžŸแžถแžšแžŠแžŠแŸ‚แž›แŸ” แž”แŸ’แžšแžถแž€แŸ‹แž€แž€แŸ‹ แž•แŸ’แž‘แžปแž™แž‘แŸ…แžœแžทแž‰ แž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž€แž€แŸ‹ แžฌแžŸแž˜แž’แž˜แŸŒ แžขแžถแž…แž…แžถแžแŸ‹แž‘แžปแž€แž”แžถแž“แžแžถ แž‡แžถแž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž˜แžปแž“แžŠแŸ‚แž›แž˜แžถแž“แž—แžถแž–แž”แŸ’แžšแžถแž€แžŠแž‡แžถแž€แŸ‹แž›แžถแž€แŸ‹แž‘แŸ…แž›แžพแžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แžŽแžถแž˜แžฝแž™ แž“แŸ„แŸ‡แŸ” แž”แŸ’แžšแžถแž€แŸ‹แž€แž€แŸ‹แžแŸ’แžšแžผแžœแž”แžถแž“แž”แž„แŸ‹แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แžขแŸ’แž“แž€แž‘แžทแž‰แž”แžถแž“แžŸแž˜แŸ’แžšแŸแž…แž…แžทแžแŸ’แžแž‘แžทแž‰แžขแž…แž“แž‘แŸ’แžšแž–แŸ’แž™ แž“แŸ„แŸ‡แžแžปแžŸแž–แžธแž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡แž‘แžทแž‰แžŠแŸ‚แž›แž‚แŸ’แžšแžถแž“แŸ‹แžแŸ‚แž‡แžถแž€แžถแžšแž–แž“แŸ’แž™แžถแžšแž–แŸแž›แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แž‘แžทแž‰แž€แŸ’แž“แžปแž„แž€แžถแžšแž‘แžทแž‰แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แž“แŸ„แŸ‡แŸ” แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แžขแŸ’แž“แž€แž›แž€แŸ‹แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€ แž”แŸ’แžšแžถแž€แŸ‹แž€แž€แŸ‹แž‚แžบแž‡แžถแžœแžทแž’แžธแžŸแžถแžŸแŸ’แžแŸ’แžšแž›แŸ’แžขแž‡แžถแž„แž‚แŸ! แžขแŸ’แž“แž€แž„แžถแž™แžŸแŸ’แžšแžฝแž›แž€แŸ’แž“แžปแž„แž€แžถแžšแž”แŸ‚แž„แž…แŸ‚แž€แžŽแžถแžŸแŸ‹ แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แžขแŸ’แž“แž€แž›แž€แŸ‹แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แŸ” แžแŸ’แžšแžผแžœแž…แž„แž…แžถแŸ†แžแžถ แž”แŸ’แžšแžถแž€แŸ‹แž…แžปแŸ‡แžˆแŸ’แž˜แŸ„แŸ‡แž‘แžทแž‰แž“แžนแž„แž€แŸ’แž›แžถแž™แž‘แŸ…แž‡แžถแž•แŸ’แž“แŸ‚แž€แž˜แžฝแž™แž“แŸƒแž”แŸ’แžšแžถแž€แŸ‹แž€แž€แŸ‹แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แž€แžถแžšแž‘แžทแž‰แžแŸ’แžšแžผแžœแž”แžถแž“แžŸแž˜แŸ’แžšแŸแž…แžšแžฝแž…แžšแžถแž›แŸ‹ แž แžพแž™แžขแžถแž…แž˜แžถแž“แž›แž€แŸ’แžแžŽแŸˆแžแžผแž…แž‡แžถแž„แŸ” แž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž‘แžถแŸ†แž„แž–แžธแžšแž”แŸ’แžšแž—แŸแž‘แž“แŸแŸ‡ แžŠแŸ„แž™แžšแžถแž”แŸ‹แž”แž‰แŸ’แž…แžผแž›แž‘แžถแŸ†แž„แž”แŸ’แžšแžถแž€แŸ‹แžŠแŸ‚แž›แž˜แžทแž“แž‘แžถแž“แŸ‹แž”แžถแž“แž”แž„แŸ‹ แž‚แžฝแžšแžแŸ‚แžŸแŸ’แž˜แžพแž“แžนแž„แžแž˜แŸ’แž›แŸƒแžŸแžšแžปแž”แž“แŸƒแž•แŸ’แž‘แŸ‡แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แž“แŸ„แŸ‡แŸ” แžŸแž„แŸ’แžƒแžนแž˜แžแžถ แžขแŸ’แž“แž€แž”แžถแž“แž™แž›แŸ‹แž…แŸ’แž”แžถแžŸแŸ‹แž–แžธแž—แžถแž–แžแžปแžŸแž‚แŸ’แž“แžถแžšแžœแžถแž„แž€แžถแžšแž”แž„แŸ‹แž”แŸ’แžšแžถแž€แŸ‹แž‘แžถแŸ†แž„แž–แžธแžšแž”แŸ’แžšแž—แŸแž‘แž“แŸแŸ‡ แž“แŸ…แž–แŸแž›แžŠแŸ‚แž›แžขแŸ’แž“แž€แž›แž€แŸ‹แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แžšแž”แžŸแŸ‹แžขแŸ’แž“แž€แŸ”แž”แŸ’แžšแžŸแžทแž“แž”แžพแžขแŸ’แž“แž€แž˜แžถแž“แžŸแŸ†แžŽแžฝแžš แž…แž˜แŸ’แž„แž›แŸ‹ แž“แžทแž„แž€แžถแžšแž”แžถแžšแž˜แŸ’แž—แž‘แžถแž€แŸ‹แž‘แž„แž“แžนแž„แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™ แžขแŸ’แž“แž€แžขแžถแž…แž’แŸ’แžœแžพแž€แžถแžšแž‘แŸ†แž“แžถแž€แŸ‹แž‘แŸ†แž“แž„แž˜แž€แž€แžถแž“แŸ‹แž€แŸ’แžšแžปแž˜แž€แžถแžšแž„แžถแžš Realestate.com.kh แžแžถแž˜แžšแž™แŸˆ info@realestate.com.kh แžฌ +855 (0)17 436 756, แžœแžถแž‚แžบแž‡แžถแž”แžŽแŸ’แžแžปแŸ†แž“แŸƒแž‘แžธแžแžถแŸ†แž„แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™แžšแž”แžŸแŸ‹แž”แŸ’แžšแž‘แŸแžŸแž€แž˜แŸ’แž–แžปแž‡แžถ แž“แžทแž„แž‡แžถแž”แŸ’แžšแž—แž–แž–แŸแžแŸŒแž˜แžถแž“แžขแž…แž›แž“แž‘แŸ’แžšแž–แŸ’แž™ แž“แžถแŸ†แž˜แžปแžแž‚แŸแž“แŸ…แž€แŸ’แž“แžปแž„แž”แŸ’แžšแž‘แŸแžŸแŸ•
Expat rentals in Phnom Penh: What you should know
Expat rentals in Phnom Penh: What you should know
June 6, 2022, 5:07 p.m.
Realestate News
Welcome to the first weekly real estate news report for December, 2015 - brought to you by Realestate.com.kh, Cambodiaโ€™s home of real estate, and the leading real estate news source in the Kingdom. This week we talk with Grant Fitzgerald, general manager for IPS Cambodia, about finding the best expat rentals in Phnom Penh. To introduce this week's guest: Grant Fitzgerald is an Australian citizen, who has spent the past six years working in Cambodia and China, and has developed a solid understanding of the complexities of real estate in Phnom Penh. Before joining the IPS real estate company as General Manager, Grant worked for an investment and business consulting firm as a Project Manager specializing in project valuation, due diligence, business planning, financial modeling and fund raising. Grant has also worked in the microfinance industry, focusing on project development and implementation. Grant holds a Bachelor of Commerce majoring in Economics and Finance from Curtin University in Australia, as well as a Post Graduate Diploma in Applied Finance and Investment. Grant - what are the top 3 areas that expats should consider when moving to Phnom Penh? What are the benefits of these areas for expat rentals in Phnom Penh? BKK1 is the most popular area for expat rentals in Phnom Penh. Tonle Bassac and Russian Market offer more value for money and are upcoming areas with a lot of new bars and restaurants. What sort of amenities can expats expect when moving to a home in Cambodia? Are their serviced apartment options? House cleaning? etc. For a serviced apartment you can expect: cleaning, internet, cable TV, parking, security to all be included in the price. There are plenty of options in town now for those looking for a pool and gym too. For standalone apartments, these services are usually excluded and itโ€™s up to the tenant to organise. What are the most common concerns for expats when moving to Cambodia and looking for expat rentals in Phnom Penh? Usually the first question that pops up from new expats when they move to Cambodia is security. Most people jump on information websites and forums and read up a bit about the city before they arrive and usually have heard some stories about security issues in various areas and bring up security as one of their requirements. Another common concern we get is being near construction, new expats often hear horror stories about certain apartments being surrounded by construction which is obviously not ideal. What are the lower, middle and upper end prices an expat should expect to pay when moving to Cambodia and looking for expat rentals in Phnom Penh? For serviced apartments:Lower = $600 - $800Middle = $800 - $1400High = $1500 ++For standalone apartments:Lower = $300 - $500Middle = $550 - $900High = $1,000 ++ What are the secrets to securing a great expat rentals in Phnom Penh at a good price? Look around โ€“ there are plenty of apartment options in PP. Know your requirements. Donโ€™t rush โ€“ head out, take a look at some properties and then relax and sleep on it. Look for a long term lease โ€“ longer term lease gets you more bargaining power. Get help - agents donโ€™t charge fees to the tenant and should be an expat in PP and negotiating with clients. Could you please explain some the top things an expat should be aware of when signing a lease agreement in Cambodia? Be clear about the services included. Maintenance is another area some people get caught on. A lot of landlords here will refuse to pay for repairs and some people get stuck with costs they didnโ€™t expect. Conditions if you break the lease are important to know โ€“ and it is not unusual to lose your deposit. Price of electricity should be defined in the contract. And becareful your new home is not too close to ongoing construction. Here are a few more tips for preparing a good expat rental contract! What are the typical prices for utilities such as electricity, water, internet, cable etc monthly? Electricity: $0.25/kW โ€“ 1 bed between $40 and $80/month depending on a/c. 2 bedroom you are probably looking at around $80 โ€“ 120/month for moderate use. Water: $2 - $10/month. Wifi: $12 - $60/ month, depending on download limit and speed. Cable TV: $5 - $10/month. Cleaning: $30 for one time month, $60 for twice per month. Whatโ€™s the best place to start an expat rental search? IPS Cambodia and REALESTATE.COM.KH websites are great tools to get you started. Here you can find the largest selection of quality expat rentals in Phnom Penh. What are some of the benefits of using IPS Cambodia to source an expat rentals? ย  Firstly, we are a completely free service to all tenants. We are expats helping expats - We know all the ins and outs with negotiation, contracts and we have long standing relationships with landlords. This means we can often get discounts or conditions not available to the general market. Thanks for tuning in to this weekโ€™s real estate news report - brought to you by Realestate.com.kh, Cambodiaโ€™s home of real estate, and the leading real estate news source in the Kingdom. Make sure you subscribe to our Youtube Channel to keep up to date with the latest real estate news and analysis. Andย Check out another interesting real estate news interview here!
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...Sheย 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 customย home withย 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.ย 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 tourย 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. โ€œNow would be a good time to build, but to attempt to sell, now is not the time,โ€ he said, hinting at the lack of faith investors have in the project. Siv Meng, Phnom Penh Post, Post Property.
Sihanoukville Property Takes A Hit
Sihanoukville Property Takes A Hit
June 6, 2022, 5:05 p.m.
Realestate News
Sihanoukville property market has taken a blow since Chinese nationals living and working in the city upped and left following last monthโ€™s police arrest and extradition of 168 Chinese, local real estate agents say.On October 31, Cambodian immigration police working with Chinese Interpol agents raided a villa and a guesthouse in Sihanoukville, busting a ring that was using an internet-based telephone system to extort money from victims back in China. Many of those arrested in the Cambodian raids were working in casinos in Sihanoukville, an industry that has seen strident growth on the back of Chinese investment in the past year, but which will be challenged after hotel and casino owners told The Post last month they have suffered immense losses and risk bankruptcy. Check out Sihanoukville property for sale here.Bonna Realty Groupโ€™s valuation manager in Sihanoukville, Phourn Sophy, said the sudden departure of Chinese investors, workers and tourists who have left the coastal city en masse and put investments and staffing in disarray, has also seen such tenants renege on their rental agreements and contracts. โ€œSuddenly, the Chinese people just left, leaving Sihanoukville property developers worried,โ€ he said. Those that are still here have cut down on how many months deposit they are securing in case the situation intensifies, choosing to put down two monthsโ€™ rent in advance as opposed to six monthsโ€™ like before, said Sophy. The upheaval has also left developers and landlords, who were swept with excitement six months back when they saw Chinese demand for property increase, saddled with bank loans they will struggle to pay back, Sophy added. โ€œI donโ€™t think this situation is temporary. Those people who have gone wonโ€™t come back so yes itโ€™s a problem for the property business.โ€ Norn Thin, director of Sihanoukville Property, said he knows of one building with about 20 rooms that has closed since the arrests. Want to rent Sihanoukville property? โ€œChinese people tend to all stay in one big building all together with about 20 to 30 rooms,โ€ he said. Thin added that despite the trepidation in the market the rental prices for such large residential properties are still double what they were last year, while Sophy estimates such prices may have fallen by less than 5 per cent. George Styllis, Phnom Penh Post, Post Property.