+85561 777 090
Logo
Logo
Add Property

Ultimate guide to Chroy Changvar
The ultimate guide to Chroy Changvar
March 12, 2019, 11:45 p.m.
Ultimate guide to Toul Kork district, Phnom Penh
The ultimate guide to Toul Kork
January 26, 2019, 5:02 p.m.
The ultimate guide to Phnom Penh
The ultimate guide to Phnom Penh
February 28, 2018, 12:04 a.m.

Realestate News

International Schools in Cambodia: Expat Advice
International Schools in Cambodia: Expat Advice
June 6, 2022, 5:06 p.m.
Realestate News
Cambodia, despite a turbulent modern history, is now respected as one of the most dynamic emerging markets in Southeast Asia. Along with this improvement in its economic stability, many expats who have families and children are also moving into properties in the country.Fortunately for them, the heightened sense of economic importance has also paved the way for the education sector to restructure and enforce new standards of quality. According to the World Bank’s census, the rate for net admission for primary school rose from 81 percent to 95.3 percent in 2014 in Cambodia. But higher education and universities in Cambodia aren’t so far behind in growth either, having thousands of people graduating each year from over 162 institutions.However, expatriates – just like in any other country – should still be careful to consider different factors before enrolling their children in any school. So, here are a few things you might want to consider first before choosing which place to send your kids.Location: There are plenty of international schools in Cambodia, but international schools in Cambodia are more focused on the Phnom Penh area because this is where a large concentration of expatriates are located. But there are also a couple of international schools in other parts of the country that you can take a look at if you’re establishing your temporary home outside the capital, such as the International School of Siem Reap and the Ecole Française de Sihanoukville. It’s important to choose the right school with an accessible location so that children will find it convenient to come to and from your home, given that Phnom Penh can experiences some serious congestion around peak travel times. It also helps in terms of attending school gatherings where parents are required to go.Future-proofing: It’s important to note that public schooling in Cambodia is not something that’s offered to expat students. This is why you’ll see most of expat children going to international schools. But before choosing International schools in Cambodia, you may have to carefully plan out the next few months or years of your life first. It would be helpful to know whether or not you’ll be staying for long and where you’ll be moving to in the near future, because different schools will offer varying curriculums. Some of them might not be accepted in other countries you plan on calling your next home. So, if your family is thinking of moving to Canada or a place with a similar educational system, the Canadian International School has adopted the Canadian K-9 Curriculum in English which is approved and regulated by the province of Alberta to make sure that the school maintains the quality that is consistent to the education given in Canada. Northbridge International School, iCAN British International School and the International School of Phnom Penh (ISPP) are some other Phnom Penh institutions that import international standards of teaching and offer universally accredited qualifications. By ensuring that your child undergoes a curriculum that is compatible with the next country you’ll be travelling to, you’ll make transitions much easier and you’ll also avoid getting into complications such as repeating grade levels. This is also applicable for expatriate secondary students who are thinking of attending universities around the world.Qualifications and Credentials: Some institutions will claim international status but will not have the resources and facilities to prove it. So, taking your time and asking officials from schools should be a vital part in your decision-making process. This way, you can see the facilities and safety standards and also interview them about the experience and background of their teachers. Because international schools in Cambodia are mostly home to children of different cultures, one thing you can look for is a school that has teachers with the necessary experience to lead a multicultural class. On top of checking the school’s physical infrastructure, do a bit of online research and see if the school’s been accredited by any international regulating bodies. An example would be the Northbridge International School which has the Western Association of Schools and Colleges international accreditation.Skills Training: The iCAN British International School is one of the more popular international schools in Cambodia as well because it offers something that’s also essential for children’s growth. More than the academic aspect, they also focus on integrating skills development through their Early Years and Foundation Stage program where students are able to enhance their skills inside and outside their classrooms. Expatriates will find this as an attractive quality because it offers their children something to do while they’re in another country. At this point, they not only develop skills but also friends that will have the same interests as them. Cost: Cost is a vague topic with international schools in Cambodia as tuition fees for different institutions differ widely. Application fees, enrollment fees and capital fees may also vary. These can be attributed to many factors such as facilities, curriculum, miscellaneous charges, quality of education and the competence of its staff. There are schools out there such as Footprints International School which offers great quality but inexpensive schooling for expatriate students up until the 10th grade but may have a different curriculum than what your children may need. So, while institutions that charge more may give you the best education and curriculum, it is important to note that there are inexpensive alternatives that you can consider as well. However, for universally accredited schools you can expect yearly tuition fees anywhere from $5000 per year, up to $30,000.Requirements and Inclusions: In terms of cost, it’s also important to check out what you get in return for the tuition you pay. Some schools offer just the facilities but not resources like textbooks, while others may offer resources but not facilities such as a computer laboratory. A good example would be the International School of Phnom Penh (ISPP) which has a “Bring Your Own MacBook” policy which requires students in the 6th to 11th grade to have their own MacBook. Since “ISPP is a non-profit parent-owned association and relies almost completely on fee income to assure sufficient resources for the school's operation,” there are certain expenses that parents would have to shoulder. These are just a few basic things you need to look at during your decision-making process, but there are other things you can add to the mix to help you narrow the list down even further. Take your time, and make sure you choose the best school for your children’s needs.Learn more about living in Phnom Penh trhough Realestate.com.kh now!
17930 views
Where is Cambodian property valuation industry heading?
Where is Cambodian property valuation industry heading?
June 6, 2022, 5:02 p.m.
Realestate News
Property valuation is one of the factors that helps determine whether buying a property asset will either enhance or depreciate the value of an investor’s portfolio. Valuation is often done by skilled professionals in the real estate industry to help protect the interest of investors and developers for long-term success.Since Cambodia is relatively new in terms of developing policies to promote proper valuation standards, it still has a few things in need of improvement. This was a topic that was addressed in-depth during a business luncheon entitled, “Addressing the Current Gaps” - which brought key speakers together to provide clarity among the various major stakeholders in the industry.  Speakers included ASEAN Manager of the Royal Institution of Chartered Surveyors (RICS), Salim Aslam, President of the Cambodian Valuers and Estate Agents Association (CVEA), Kim Heang, and Country Manager of Knight Frank Cambodia, Ross Wheble.Macroeconomic and Banking Standpoint:Before anything else, David Marshall, Head of Multinational Corporation and Financial Institutions of ANZ Royal Banks, discussed property valuation from a banking perspective. He states that valuations play a key role in the lending process of the country.Marshall explains, “One of the pitfalls in Cambodian property valuation that I’ve seen is there could potentially be some collusion with valuers in assessing the value of the property, inflating the value, and then the banks lending more money on that property than they should have.”Marshall stresses that, “in order for banks to protect their clients, there is an obligation to ensure that there is minimal loss during investment transactions; and property valuation serves as that safety net for both parties.”Ethical Practices and Transparency Issues:In terms of developing a guideline for quality assessment, Aslam explains that many countries such as Singapore and Malaysia have adopted the valuation standards of the Red Book which have been developed by RICS and widely used in the US and UK.However, he clarifies that this is not something that has been applied in Cambodia as of yet because there are issues of compatibility with the type of government and current economic setup of the country.Heang substantiates this by saying that it is not impossible to integrate this system full at present, but it must be tailored to fit the unique needs of Cambodia at this point of time. “What can be done in Malaysia and Singapore now can apply to Cambodia, but we need to check if it needs something extra to work," he says. He adds that a law on real estate is already being discussed and might be enacted by 2018 to help move towards the end goal of improved valuation policies.When asked how to bring international valuation standards to Cambodia though, Wheble answers by saying that there is a skills gap in terms of educational infrastructure and that there are no real estate qualifications available in-country at the moment. This becomes an immediate issue in accordance with international standards.He believes “with more and more of these training sessions and also in terms of exchanging knowledge between ourselves and through the CVEA,” this will soon improve, especially with the efforts of companies like RICS and Knight Frank who are willing to participate in the development of a better education system for real estate professionals in Cambodia, inside and outside of their businesses direct interests.Calls for Education:Since Cambodia has a shortage of programs to address the gap of knowledge in the valuation industry, Aslam says that, “knowledge, training, learning, and education is one way to solve the gap of expertise,” because Cambodia is a young country in terms of organization. He also says that it may take some time to address these gaps, but as long as efforts are being done, this disparity will soon shrink.Aslam adds that local organizations like CVEA will play a big part in harmonizing this gap to adopt certain Cambodian property valuation standards. Wheble also states that, “promoting real estate as a profession in and of itself needs to become a focus for Cambodia.” New job applicants in the industry have generally gone to university and gotten a degree in finance, law or banking. “What we really need to promote is real estate as a long-term professional career path,” says Wheble.According to Kim Heang though, there is already a five-year plan for CVEA to help in this area. He states that three universities are willing to offer a faculty for a bachelor’s degree in real estate and we will see four-year courses with 30 to 50 subjects being offered soon. The University of Technology in Malaysia is also interested in working with universities in Cambodia to bridge the gap for a two-year associate valuation degree. This will affect how the real estate industry professionals will conduct their business because, as education increases, regulations will certainly evolve and have stricter implementation as well.Insurance and Valuation:On the topic of insurance, Aslam explains that valuers have a pre-requisite of professional indemnity insurance, as the Ministry of Economy and Finance has now released a new regulation requiring this type of insurance coverage.Aslam continues by saying that Cambodian property valuation can be subjective and valuers may end up with different figures based on individual research. In these cases, insurance becomes important as it protects the valuers and their client should there be errors or lapses on their part.According to Kim Heang though, if you’re working with international investors or buyers, some do not require you to have this insurance because they trust you enough. These include buyers from Taiwan and Vietnam.He also says that if you’re very careful with valuation, the insurance seems to matter less. He goes so far as to say that having no insurance can actually help valuers at times because they have nothing to fall back on, and will then be less negligent. But he clarifies that having insurance can actually be good for competition because buyers feel safer with companies that do have insurance.Government support:On the question of whether the government should establish a governing body to overlook issues with real estate and valuation, Heang responds by explaining that there are actually people who do that right now, but there are less than ten under the general real estate and industry department who are able to do it.This is a cause for concern as there are thousands of ongoing and new projects in need of attention. This sometimes makes the management of all issues impossible for the current government department. Although, Heang says that recently the CVEA has served as the right hand for the government whenever possible in this field.Data collection:Another issue Cambodia has with valuation standards is that there is no central database for valuation transactions to serve as the basis for valuers to gauge relative values across the market. However, individual international firms like Knight Frank do their own data gathering through their research teams, using collected sales data.When asked why these firms are not teaming up with local organizations like CVEA in order to form a singular data, Wheble explains that they are actually open to doing so, but not all companies are as open to becoming transparent with their data as Knight Frank.He says that this is stopping progress on this front. Kim Heang says this is due to tax regulation. Some companies do not pay their tax completely and that’s why these companies choose to remain silent with sold price data. But if this is not the case, he says that the CVEA can do the data collection and analysis to be able to create a more centralized database. Having this reference will then affect what professionals use for valuation, as comparable data will be easier to obtain.Marshall closed the luncheon by saying that Cambodia still has much to do for Cambodian property valuation, but they “know that the industry is moving towards more professionalism.” And certainly this step towards a more organized and systematic future will have positive effects on how transactions will be made in the Cambodian real estate industry, and sustainable growth for the greater economy moving forward. Need a Cambodian Property Valuation? We can put you in touch with Cambodia’s best valuers NOW!
24551 views
How to find International Investors, with Kuy Vat on Realestate.com.khTV
How to find International Investors, with Kuy Vat on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Property Buyers & Sellers Advice
Recently, Century 21 Cambodia released it’s Condominium Market Report H1 2016 in Phnom Penh at the Raffles Le Royal Hotel.The release was well attended by various partners, investors, and Century 21 agency managers from across the nation. In the speech of Mr. Kuy Vat, Chairman of Century 21 Cambodia, he mentioned his appreciation of Realestate.com.kh and offered thanks for Realestate.com.kh’s cooperation with Century 21 Cambodia, and the development of the real estate sector in Cambodia generally.“It is with pleasure that Century 21 Cambodia work closely with Realestate.com.kh,” said Vat. He added that, “I think that Realestate.com.kh has become a renowned company in Cambodia. As this company has grown, they have played a very important role in the development of Cambodia, especially within the property market realm.”He also mentioned that in order to have the Cambodian property market continuing its strong growth, stakeholders in the market should partner to develop the industry together for the good of all, whether they are developers, constructors, real estate agencies or media companies. “For instance, Realestate.com.kh is an online marketing company which works to advertise property inside Cambodia on behalf of agents and developers. But, Realestate.com.kh also has a very comprehensive marketing reach outside of Cambodia,” said Vat.“Innovation like this will significantly help our country in promoting our real estate market to foreign investors,” says Vat.Century 21 Cambodia is the exclusive holder of the Century 21 Trademark & Systems in Cambodia and oversees all Century 21 franchise offices across the Kingdom. Realestate.com.kh is the official property portal partner of Century 21 Cambodia, and has actively cooperated and supported Century 21 Cambodia in bringing the Cambodian real estate sector to a wider international market. By doing so, Realestate.com.kh has increased the exposure of Cambodian property to investors across Cambodia and the world. And nowadays, Century 21 Cambodia is working and very hard to develop international networks of investors and agencies in order to take the Cambodian property market to the center of the world stage.Century 21 Global is present in over 78 countries worldwide, and Century 21 Cambodia are currently leveraging these connections to bring new investment opportunities and new investors to the Cambodian market. Vat believes that with strong connections between all stakeholders in the real estate sector, together we can support the long term development of this market.He also believes that development companies with long-term interests in Cambodia will only survive when they work with strong and innovative real estate agencies. “Success may not happen overnight, but if we partner with the right companies it is a matter of time before our real estate industry is very successful,” concluded Vat. Check out more videos about the Century 21 Condo Report from Mr Chrek Soknim, CEO of Century 21 Mekong and Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia.
23352 views
Legal Update: Notary or Lawyer required as “witness” for SPA when purchasing property in Cambodia
Legal Update: Notary or Lawyer required as “witness” for SPA when purchasing property in Cambodia
June 6, 2022, 5:05 p.m.
Realestate News
Many investors, international and local, are purchasing condominiums in Cambodia, pre-sale, under construction/off plan, direct from the developer. When they do so, they enter into a sales and purchase agreement with the development company. Upon signing this SPA agreement, the condo is purchased and both parties must fulfill their full obligations in terms of payment and delivery of the finished condo unit.  However, there is some current confusion regarding whether or not a Cambodian Lawyer or Notary must also sign as witness to such agreements.This confusion exists because commonly these sales and purchase agreements only stipulate that there is a co-signing “witness.” “Party A” and “Party B” have signed being “Buyer” and “Seller”, and there is also a place for a “witness”. Hence the question begs: Is it a requirement by Cambodian law to have a lawyer or notary to sign in this witness section?And, if it is not a requirement to have a qualified witness, is it still safer to have a lawyer or notary sign instead of a civilian?The answer to this is as follows:The Law on the Implementation of the Civil Code sets out certain requirements for the execution of real estate contracts:Pursuant to Article 9, in conjunction with Article 336(2) of the Civil Code, a contract that transfers ownership over immovable property only comes into effect when such contract is made by a “notarial document”. Article 9 of the Law on the Implementation of the Civil Code clarifies that a notarial document is either:1) Made by a notary, or; 2) A privately-produced document authenticated by a notary, and dated and signed by the notary after the authentication; or; 3) A document made by a competent officer for registration process. As there are a relatively small number of official notaries in Cambodia (only around 20), in practice, Cambodian lawyers often serve as witnesses to real estate agreements. One more thing to remember is that under the above laws, there is some uncertainty still as to whether the actual land sale and purchase agreement must be notarized or whether the notarization requirement would only apply to the Vente Definitive land transfer form (which is the official land transfer form signed by the seller and buyer, and which can be made by a competent officer at the land office).So, in short, to be safe - make sure you have a registered Cambodian lawyer or notary present when you sign you sales and purchase agreement, and have them sign at the witness.By signing without this authorized witness, your SPA agreement could be considered void at the later date. Please seek legal advice when undertaking real estate and property transactions in Cambodia, and use their experience to your advantage. If you need to be put in touch with an experienced Cambodian lawyer - contact us today!Learn more about investing in Cambodia in our authoritative investor guides.
21079 views
Amazing Cambodia: "Development and architectural conservation need to walk together"
Amazing Cambodia: "Development and architectural conservation need to walk together"
June 6, 2022, 9:07 p.m.
Realestate News
Sukhalay Hotel on Achar Mean Avenue (now Monivong Boulevard)Amazing Cambodia gather vintage photos of historic buildings across Cambodia and feats of construction that have marked the Kingdom's architectural evolution. The mission of Amazing Cambodia is collecting Cambodian historical images, music,films and other things of cultural importance, and sharing them to everyone domestically and internationally. The purpose in guiding people, especially the young generation, to see and to know how amazing their country was in the past as well as to be proud of being a Cambodian citizen. It is also assisting local people to recall momentous memories about past events, raising foreigners' awareness about Cambodian culture and history and promoting Cambodia's reputation and popularity nationally and internationally. The founder of Amazing Cambodia, Mr. Srin Sokmean, spoke with Realestate.com.kh about his life and his inspiration for Amazing Cambodia.Tell us about your career so far:I have been working as a reporter and editor for a local magazine since I was a senior at IFL. Now I am also working as an English language full-time teacher for a private school in Phnom Penh. On the other hand, I have been an organizer of some cultural events including Amazing Cambodia Photo Exhibition 2013 and the Night of Hope charity concert 2015.What inspired you to start your photo archives?Inspired by my lifelong great passion of local culture and arts, I have been investing most of my free time in doing constant researches on Cambodian past music, films as well as architecture. The 1960s, known as the golden age of Cambodian culture, is my most favorite topic. As I had collected a large number of vintage images, I decided to create a Facebook page named Amazing Cambodia with the initial technical assistance of one of my Facebook friends. The three biggest purposes of the page are to raise Cambodian young generation’s awareness of the country’s glorious past, to review the past memories for the surviving local oldsters, especially those who have been away from the homeland for decades, and last but not least is to promote Khmer culture and history to the world.What your inspiration do this job?Everything is because I do love it from the bottom of my heart - though, I have to sacrifice a lot of money and time. Even without much support, I never give up since I have learned a lot during the process of the research. For example, I know how to improve communication skills with people in that field.My personal inspiring quote is “Don’t give up just because you walk in the right way alone - Appreciate your incomparable talent.”What is your view on Cambodia architecture these days?
20529 views
J-Tower 3 - News Banner ENG
Sihanoukville Real Estate and recent policy changes, with Kim Heang on Realestate.com.khTV
Sihanoukville Real Estate and recent policy changes, with Kim Heang on Realestate.com.khTV
June 7, 2022, 6:39 a.m.
Realestate News
Sihanoukville is located in the southwest area of Cambodia and is known for its beautiful beaches and wonderful people. It is also home to some exciting new mixed use developments, such as D’Seaview by Camhomes. But recently, the province had experienced some significant policy changes which have influenced the Sihanoukville real estate market quite dramatically.ALL REAL ESTATE FOR SALE IN SIHANOUKVILLE The news of partitioning the province into three sections/zones and classifying them as luxury beaches for the private sector, public beaches for the private sector, and public entertainment beaches came as a surprise to many after Cambodian Ministers, Thong Khon and Chea Sophara, had their discussions on the matter. The move, however, was met with heavy scrutiny after many local businesses in the area were demolished – particularly in the Otres and Ochheuteal beach areas. As a result, complaints were filed through the Interior Ministry in an attempt to come to a compromise. In a recent video interview with Realestate.com.kh, current president of the CVEA, Mr. Kim Heang, weighs in on the current status of Sihanoukville real estate as an investment destination.So, how do recent policy changes affect property investment opportunities in the province? Despite the recent changes, Heang suggests that Sihanoukville is still a good place for investment. He adds that the best time for investing in Sihanoukville real estate is anytime from now, into the next 5 years. This is because in the short term, properties here are still relatively inexpensive and still have great potential for investment returns. This may be attributed to the recent real estate segmentation/zoning being implemented by the government that will pave the way for better zoning management and policy conception into the coming years. This progress will only stimulate the economy of the province in the longer-term. Heang further explains that if there is a clear master plan for Sihanoukville and it is followed through with conviction, Sihanoukville has the potential to become another Singapore, or at least a Phnom Penh. But this will not happen without serious attention to infrastructural upgrades, such as stronger rail and road connections, and deeper ports. Although there are already plans to strengthen the infrastructure, Heang says these plans still have a long way to go.ALL REAL ESTATE FOR RENT IN SIHANOUKVILLE Railway Infrastructure Capacity Needed:Currently, it takes about eight hours to come from Phnom Penh to Sihanoukville via train, says Heang. Improving the railways and making the system at least three times bigger, he adds, would make this journey just 2 hours. This would also allow ease for sharing resources such as materials and workers that would be helpful in construction of additional infrastructure and property developments in the port city. Having a faster train system would make the entire province more profitable for investors in a much shorter amount of time.Sihanoukville Real Estate for Commerce: Sihanoukville is also a popular tourist destination for both locals and foreign nationals. So, for those looking to invest in commercial properties in the area, there is already natural and organic foot traffic to work with.While Sihanoukville is currently undergoing changes, it clearly has a bright future to come.LEARN MORE IN OUR SIHANOUKVILLE LOCATION PROFILE
21519 views
Cambodia builds huge TV Tower and Stadium for South East Asia Games in 2023
Condominium unit supply in Phnom Penh to reach 37500 by 2020
More New Property Projects on Show at Cambodia Property and Investment Show 2016
More New Property Projects on Show at Cambodia Property and Investment Show 2016
June 6, 2022, 5:05 p.m.
Realestate News
Property Buyers & Sellers Advice
Buyers of residential and commercial properties will be spoilt for choice when CAMBODIA PROPERTY AND INVESTMENT SHOW 2016 rolls into town at the Diamond Island Exhibition Centre (Koh Pich) from 8-10 September 2016. And Realestate.com.kh is proud to be the Official Property Portal Sponsor of this year's Cambodia Property and Investment Show! Visitors at the show can see all the projects in one location. Furthermore, buyers can enjoy many special offers available at only at the show. Billed as the largest property expo in Cambodia, the event will showcase some of the biggest property developments in the country. Supported by the Cambodian Valuers and Estate Agents Association, the Show will focus on quality projects that will also attract foreign buyers. Among the development on show are: The Cambodia Property and Investment Show looks set to be the biggest yet as more major developers signed up to display their projects. Many of them will be participating for the first time at the show. This reflect the continued strong growth and demand for quality projects. The property prices are still affordable as compared to countries around the region. As the country continues to attract investments in the manufacturing and tourism sectors, the rental market is expected to remain strong. The Expo is the ideal marketing platform to reach out to both local and overseas buyers as it is expected to attract over 10,000 serious buyers.To Book Your Booth please send your details to the organizer: CLICK HERE TO CONTACTAdmission to the Cambodia Property & Investment Show 2016 is free of charge. Invitation tickets are available: WANT TICKETS?  FIND OUT MORE
16271 views
Sihanoukville Property Development Rising Alongside Tourism Boom
Sihanoukville Property Development Rising Alongside Tourism Boom
June 6, 2022, 5:06 p.m.
Realestate News
Sihanoukville is a highly coveted tourist destination that’s known for its international port, infrastructure, and other good services. The Airport in Sihanoukville also provides tourists a form of convenience, with flights ranging from both local and international destinations such as Ho Chi Minh City, Phnom Penh, and Siem Reap. It also offers a few other services for private international jets and helicopters.  These factors have proven profitable for Sihanoukville property and have dressed the tourism sector in the province to appear significantly more attractive. The Sihanoukville property market is extremely attractive for different types of developments, especially for the hospitality industry. For instance, Six Senses Hotels Resorts Spas – a high class international hotel – will start operations on its project in Khos Krabey Island soon. Within this hotel, there will be a set of around 40 holiday villas, all with a beautiful view of the sea and the beach. Six Senses Spa Krabey island is the preferred destination for tourists looking for a pleasurable and relaxing trip in the Cambodia and even in the South East Asia region. Six Senses Hotels Resorts Spas Krabey Island plans to reach project completion by 2017. There are also huge potentials for both tourism development and real estate development in the province. Mr. Den Sakal, a managing director of Universal Real Estate in Prasihanouk province, said that “customers are very much attracted to landed Sihanoukville property and residences. The leasing has been increasing in Sihanouk province, with most of them coming in from foreigners staying for a long time.” Meanwhile, Chhut Bona, a private company staff in Phnom Penh, says that there are a lot of opportunities to invest in landed Sihanoukville property for the coming years because there are also many ongoing and upcoming development projects in the province. In addition to this, its geography and international standards also play a huge role in investment opportunities. There’s also an immense potential for expats who wish to invest in Sihanoukville property, and Cambodia generally. For instance, a group of 13 Chinese companies and investors plan to build a $3 billion international resort centre on the development of Meas Prak (gold and silver) beach resort, which covers roughly 3,000 hectares of land. This is in order to obtain investment return from the tourism industry and to help in the development of Cambodia. Mr. Van Chanthorn, ceo of Towncity Real Estate, states that “luxury resort developments on the island and other projects are also contributing to the growing real estate sector in the Sihanouk province. This then causes economic growth which makes way for a lot of infrastructure improvements, along with a higher demand and growth in the employment market, which is really important.” According to Chhit Sengnguon, vice governor of Sihanouk province, there were over 1.3 million tourists who visited Sihanoukville during the year’s first 5 months, an increase of around 16 percent compared to the previous year. This is essential, as an increasing tourist volume indicates that the economy and the real estate sector are also growing. All property for rent in SihanoukvilleAll property for sale in SihanoukvilleLearn more about Sihanoukville
23141 views
Industrial Real Estate Could be Safe Option Against Residential Market Uncertainties, experts say
THE EDGE: The latest property release for Shukaku Inc. at Phnom Penh City Center
THE EDGE: The latest property release for Shukaku Inc. at Phnom Penh City Center
June 6, 2022, 5:06 p.m.
Property Reviews
Realestate News
The Edge, a modern mixed-use development, will support Phnom Penh’s growing economy by providing what businesses – both local and foreign – need to unleash the capital’s potential: accessibility and convenience PHNOM PENH, June 24, 2016 – Shukaku Inc. today launched The Edge, its latest mixed-use development which will be located at the Phnom Penh City Center (PPCC), Cambodia’s first planned city project and Phnom Penh’s future Central Business District. Shukaku made the announcement at an exclusive showcase it held for investors, business owners and customers today at the Sofitel Hotel in Phnom Penh.CHECK OUT TWO EXCITING PROJECTS FROM PPCC FOR SALE ON REALESTATE.COM.KH NOW: RESIDENCE 90 | THE EDGECommitted to supporting Cambodia’s transformation to meet the demands of the 21 st century, Michelle Lau, Executive Director, Shukaku Inc., reaffirmed that Shukaku Inc.’s mission is to unleash the potential of Phnom Penh and make it a truly liveable city by creating sustainable, innovative and integrated urban communities in the region. “We are very excited to share our new development, The Edge, with you today,” Ms. Lau said, “which is the latest feature of our project that speaks to our company’s long-term vision for the Phnom Penh City Center.” The 4 to 5-storey, 90-unit development was conceptualized by award-winning design architect, Logon, which used an innovative ‘Retail Office Versatile Office (ROVO)’ concept. All units are designed with flexibility in mind, providing space for businesses to be set up according to their preferences. The Edge is located next to a 22,000 sqm public park – a testament to Shukaku’s vision of providing new livable spaces where the community can feel safe and have true accessibility. Residence90, the company’s first residential villa property tailored for the modern Cambodian’s urban lifestyle, was also featured at the event. Inspired by modern architectural models, each villa at Residence90 has been designed to integrate seamlessly with the surrounding tropical landscape, and to fit its residents’ lifestyles. “At Shukaku Inc., we believe that each project begins and ends with a sense of purpose,” Michelle Lau said. “The purpose behind Residence90 is to provide residents with high-quality and smart living – at the heart of the Capital.” Current developments at the PPCC also include the PPCC Sports Complex and the upcoming One Park, an integrated lifestyle, residential and commercial hub, co-developed with GRED. Shukaku is in discussions with investors and will announce more developments throughout the year. “My vision is to create a place where the community can truly work, live and play” said Ms. Lau. “This includes wide spaces filled with greenery and well-planned infrastructures as well as providing a central place for businesses to conduct efficient, comfortable and reliable operations.”About Shukaku Inc.Established in 2001, Shukaku is a privately-owned innovative real estate developer based in Phnom Penh, Cambodia. Not just a property developer, Shukaku is also a master developer and an urban planner actively contributing to the shaping of the new Phnom Penh. Committed to building Cambodia’s future, Shukaku is creating liveable, quality developments through pioneering urban planning standards. Its flagship project, the Phnom Penh City Center (PPCC), will create a modern, thoughtfully-planned and fully integrated downtown core in Cambodia’s capital.About Phnom Penh City Center (PPCC)Set to become Phnom Penh’s first Central Business District, the Phnom Penh City Center (PPCC) is the first planned city project in Cambodia. Combining financial, retail, commercial, residential, medical, recreational and public spaces, this 111.6-hectare open, futuristic and iconic urban district located at the heart of the capital will offer the newest architectural buildings and modern city conveniences. A green and vibrant township, the PPCC is bringing a livable and integrated city to the people of Phnom Penh.  CHECK OUT TWO EXCITING PROJECTS FROM PPCC FOR SALE ON REALESTATE.COM.KH NOW: RESIDENCE 90 | THE EDGE
23920 views
Tourism Boom in Cambodia attracts Investors
Tourism Boom in Cambodia attracts Investors
June 6, 2022, 5:05 p.m.
Realestate News
With an increasing number of reasons to visit the land of smiles, Cambodia has opened its doors not only for economic growth and global competitiveness, but also for tourists who are looking to immerse themselves in the Khmer culture.As a result of this, the number of visitors and infrastructure dedicated to helping the tourist sector expand has also grown.“One Belt One Road” Policy:In an interview last month, Sam Yang, CEO of Eastland Development, states that the “One Belt One Road” initiative by China – which aims to create an elaborate land and sea railway connection among different countries around the world – may help usher in Chinese investments into Cambodian real estate. Since there is an overproduction of materials in China such as steel, it can easily be made accessible to Cambodia to utilize towards building infrastructures like airports, roads and railways. This will allow numerous entry points for tourists. And the more tourists that come into the land, the more foot traffic local and international retailers have. In fact, in 2016 alone, 1 million Chinese tourists are expected to walk the streets of Cambodia.Tourism is becoming one of the major contributors in Cambodia’s economy. And with the appearance of hotels owned by international companies, and the construction of new infrastructure like additional airports and railways, property investment would seem like the perfect option for foreign nationals who can’t stay away from the Kingdom.Awards Keep Coming:Just recently, the ECTT or the European Council on Tourism and Trade hailed Cambodia as the World’s Best Tourist Destination for 2016. If anything, this recognizes the efforts of the Ministry of Tourism and confirms its success towards driving more people to become aware of the many attractive qualities of Cambodia. This also further encourages investors as an indicator of stability and growth. Accommodations Expand:Local and international businesses and retailers are not the only beneficiaries of the growth in the tourism sector though. New high end brand hotels have also been popping up and receiving their fair share of investment returns through thousands of tourist s checking in every single day. Hence there is a great opportunity for foreign investors to launch and develop even more properties like it. Some of these developments are “The Courtyard by Marriott”, and the “Rosewood Phnom Penh” which will occupy the top 14 floors of Vattanac Capital Tower. These hotel brands are preferred by visitors because of outstanding service and accessibility to attractions around the country. The Peak mixed-use development by Oxley Worldbridge will also host the Shangri La Hotel in the coming years.But of course, accommodation for tourists is not just limited to hotels. As the property market and tourism expands, there will also be growth in different markets like apartments, serviced apartments and backpackers. These types of properties will see a rapid increase in rental prices.Another thing we are seeing more and more of is eco-friendly tourism options; a prime example being VKirirom Resort - where guests can stay on top of Cambodia’s most idylly mountain range, and enjoy a wide range of eco-friendly activities.Easy Visa:While getting a visa in Cambodia is not at all complicated, the Ministry of Tourism has now given notice that it will prepare to issue three-year multiple visas exclusively to Chinese and Korean citizens, who have been the country’s greatest tourists, partners and investors. In 2015 alone, there were around 400,000 Korean and around 700,000 Chinese tourists. And as the amount of visitors in Cambodia grows, the Ministry of Tourism hopes that this will encourage foreign nationals to get to explore not only the sights in Cambodia, but also investment opportunities.Just recently, the ECTT or the European Council on Tourism and Trade hailed Cambodia as the World’s Best Tourist Destination for 2016. If anything, this recognizes the efforts of the Ministry of Tourism and confirms its success towards driving more people to become aware of the many attractive qualities of Cambodia. This also further encourages investors as an indicator of stability and growth.Check out more info about Foreign Investment in Cambodia!
25789 views
Cambodian Real Estate Market Challenges, with Kim Heang on Realestate.com.khTV
Cambodian Real Estate Market Challenges, with Kim Heang on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Every industry has its stories of successes and shortcomings. The real estate and property investment industry in Cambodia has certainly had lots of those - and has developed a lot alongside its victories and it's rising from past failures.This is the same reason why it is regarded as the rising tiger of Asia: Strong in its approach and wiser with each controversy and distress, the property and land markets have seen significant growth in the past years. But there remains challenges that it must overcome to reach its maximum potential.In a speech for fellow professionals and enthusiasts in the Real Estate Market & Outlook Conference (REMOC) 2016, president of CVEA and CEO of Khmer Real Estate, Mr. Kim Heang, addresses some of the challenges for the land, condo, borey, factory and warehouse markets.Should Foreigners Be Allowed to Buy Land in Cambodia?He states that Cambodia is fortunate enough to have laws and policies in place that restrict foreigners from buying land. Unlike countries that do not, Cambodia is reaping the benefits of this policy through stable investment opportunities for locals. Heang explains that if foreigners are allowed to buy properties in Phnom Penh, the whole of Phnom Penh would soon become a giant Chinatown, since the Chinese represent the largest population of investors right now in the area. He adds, "I don't want to be the last Cambodian to live in Cambodia." But even if laws to allow foreigners to purchase land may be possible in the future, Heang clarifies that now is not the right time for that. Where to Invest Now?Heang suggests that if you are looking to buy land for investment returns right now, buy from areas like BKK1 that have 25 years of reliable investment history and established amenities like hospitals, schools, market places and offices. This area is perfect for buyers looking for residential spaces. But if you’re willing to wait and place your money for longer and for a bigger return, and plan on doing resale in the next five years, properties in areas like Toul Kork might show better potential for that purpose. He also mentions it is cheaper to invest in condominiums being built in Toul Kork now, because more established areas like BKK1 are heavily influenced by the very high land prices.Heang adds that people looking for investment returns in the next ten years would be best to buy properties outside Phnom Penh itself, in the outer districts, or up to 15 to 20 km away from it. Condo Oversupply?At present though, there are around 20,000 condominium units expected to reach completion by 2018. While there is a concern that there may be an excess of units, Heang suggests that the condominium market will have plenty of demand in the coming years since the Phnom Penh population is expected to rise rapidly as well. And though foreign investors are not allowed to buy land from Cambodia, if the government can get foreign investors interested in Cambodia, it would not be unreasonable to double or triple the amount of units that Phnom Penh already has to offer and still find sufficient demand. This can be achieved through friendlier and more efficient investment policies being put in place by the Government. Property Development Advice:But Heang notes that for property developers, the condo market is now becoming highly competitive and condominiums may not remain practical for long-term living in the city because of the traffic and congestion issues growing in central areas. For that reason, Heang suggests that developers should consider moving to areas on the edges of the city and supplement the local market demand for more landed Borey projects. Preselling also becomes an issue in terms of condominium developments because many developers now cannot afford to buy the land for development outright - so instead loan for this land payment from financial institutions. While it’s not bad to get a loan for the development, many investors are unable to reach their target market during presales and get the necessary support to start construction- as they don’t have upfront capital reserved for construction. Heang advises against allowing this kind of practice throughout the industry due to the potential pitfalls this can cause.Industrial Property Still Strong:But while the condominium market remains unpredictable, industrial spaces such as factories are becoming even more popular for investors in Cambodia because of the relatively low minimum wage for workers that still exists in the Kingdom. Investors have also become wiser, transferring their factories to less expensive areas to save on overhead costs.Heang concludes by saying, “the future of real estate in Cambodia? What is the future? Nobody knows. No one knows about the future." He says that problems are everywhere and it is important that you have a solution-based mindset. In a highly volatile industry where even the smallest problems can lead to the biggest changes, professionals in the industry must be able and ready to adapt.
21486 views
Borey Sunny Terrace: Property Review on Realestate.com.khTV
Borey Sunny Terrace: Property Review on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Welcome to another Realestate.com.khTV Property Review. Today we are at Borey Sunny Terrace with sale representative, Ms. Pheng Tida. Tell us about the location of Borey Sunny Terrace: This Borey is located in Tra Pang Khleng Village, Khan Porsenchay, Sangkat Chom Choa. Contact the developer now to find out more!What type of customer is this property best suited to? This borey is best suited to medium class and higher medium class Cambodia families. It is also available for foreigners on a long term leasehold of 50 years. Can you tell me about the special features of Borey Sunny Terrace? I think the most special feature is that it is very close to key amenities, such as markets and local and international schools. It is also very close to the Phnom Penh International Airport, and a short drive to the central business district of Phnom Penh. Why type of properties exist inside this Borey development; and what are the sizes and prices? There are two types of properties: 1) two storied houses and; 2) three storied houses. For the two storied house, prices start from $70,000; and for three storied houses, prices start from $110,000. In regards to size options, we have four blocks for the customer to choose from. Block A, B, C, and Block D. Block A & B are the same size, 16m x 4.8m. Block C & D are 4.2m x 14.5m. Tell me more about the special features and qualities of the buildings? The borey is designed in Korean and Japanese style. Meanwhile, the quality of this development is assured because our development company has a lot of experience with previous projects. When will this project finish and open for sales? Sales have begun. Construction started on Borey Sunny Terrace in October 2015, and is now 80% complete. It will be totally finished by August 2016. The showroom is already finished and open to visitors. If you want to find our more, please inquire through our listing on Realestate.com.kh! Thank you very much for watching another Realestate.com.khTV Property Review. Stay tuned for more info, advice and hot properties across the Cambodian real estate market! Contact the developer now to find out more!
23123 views
Improve your listing quality and sell faster!
Improve your listing quality and sell faster!
June 6, 2022, 5:05 p.m.
Realestate News
Traditionally, to sell or rent a house all you had to do was make an appointment with the buyer, use a bit of the “real estate agent charm” and show them some properties that best suit their needs. But those days are over...Currently, over 90% of buyers are using the internet to research the market before contacting a real estate agent, and it has never been more important to make a good first impression online. In real estate terms this is known as a ‘quality listing.’A joint study conducted by The National Association of Realtors (USA) and Google in 2013, stated that ‘Real estate related searches on Google.com have grown 253% over the past 4 years’ and now ‘90% of home owners used the internet during their property search.’A more recent study by We Are Social (Singapore) found that internet usage in Cambodia had grown by over 400% between 2015 and 2016. In line with the We Are Social research, Realestate.com.kh has increased traffic and sales and rent inquiries by 416% since the same time last year.With internet users in Cambodia skyrocketing to over 6.7 million people this year, high quality real estate listings have never been so important.And to ensure property seekers on Realestate.com.kh are presented with the highest listing quality possible, we automatically display listings with 0-1 images at the bottom of the list. Quality listings will always be preferred by our website, and sit higher in the list of search results. Top Listing Quality Tips:1) Upload More Than 3 Photos:After all, a picture speaks 1000 words. Realestate.com.kh’s internal data shows that your chances of selling a property can increase by 85% if you upload more than three images to your property listing. It is very important that the photos you upload are of the actual property you are selling, as this will show potential buyers exactly how the property looks – and prove it is a genuine property for sale. You need to take quality photos! Show the key selling features and show people all the benefits.2) Take Time Writing a Quality Listing Description:Offer as much detail as possible when you are writing your listing description and improve your listing quality. Put yourself in the property buyer’s shoes! What features will they find most attractive in your property?3) Get Your Contact Details Perfect:Your listing is a waste of time if people can’t get hold of you! So make sure your contact details are perfect. Add two phone numbers and an email address if you know that sometimes you will be too busy to take the calls. Also, take time to improve your “Personal Profile” or “Agent Profile” online; as this profile allows you to give some extra information about yourself and/or your real estate agency - and to create a much-needed sense of trust and familiarity between yourself and potential buyers and renters.4) Make Your Property Listing Headline Count!Add a “Property Headline” in both English and Khmer – and make it count. If it is simple and clear, people will find your items before they find another. The internet has thousands of property listings for Cambodia these days, so you need to make sure your title quickly summarizes what you have to offer!5) List A Price:Don’t list “Price On Application” (POA)... At Realestate.com.kh, we have found that potential buyers generally read the home’s description and expect to see an exact listed price. On Realestate.com.kh, listings that display a reasonable price receive 150% more inquiries. If the price is negotiable: also let the user know in the listing description. If the terms of sale/rent are negotiable: let the buyer know in the listing description.6) Follow Up Your Sales Inquires QUICKLY and PROFESSIONALLY:When you receive phone and email inquiries from your online property listing, it is extremely important that you follow up with the potential buyer and renter as fast as possible. If you don’t get in touch quickly, your potential buyer or renter will soon find another offer, and another seller who is more interested in them. If they are an International buyer, communicate over the phone is the correct language - and follow up with a detailed email.It is extremely easy to create a new listing on Realestate.com.kh, whether you are a private seller, landlord of real estate agent. You can sell yourself and we don’t take commission! Sell Faster On Realestate.com.kh:7) Upgrade Listings:You can now upgrade your property listings for sale or rent to "featured" on Realestate.com.kh for only about $1 per day! This means your property will be on the top of the list, and get more exposure and more inquiries. Just click "Upgrade" on the property that you want to upgrade inside your seller’s office and we will do the rest!8) Refresh Listings:If your property is still for rent or sale, you can now refresh your listing once every 7 days and bring it back up to the top of the list! When you click "REFRESH", the property will be moved back up to the top of the list where potential customers will see it!Learn More:If you are an agent, developer, landlord or private seller wishing to list your property on Realestate.com.kh contact us today at info@realestate.com.kh or 017 436 756. We are available to help you anytime with anything!UPLOAD A PROPERTY NOW!Harness the online revolution that is spreading across Cambodia – and get your listings sold on Realestate.com.kh today, Cambodia’s home of real estate.Harness the online revolution that is spreading across Cambodia – and get your listings sold on Realestate.com.kh today, Cambodia’s home of real estate.
15974 views
Phnom Penh City Center: The Pearl of Cambodia
Phnom Penh City Center: The Pearl of Cambodia
June 6, 2022, 5:05 p.m.
Realestate News
The Phnom Penh City Center (PPCC) is set to become Phnom Penh’s first and only Central Business District, transferring Cambodia’s rapidly developing capital into the city of the future. Strategically located at the heart of Phnom Penh, PPCC will be the choice destination for locals and expatriates where modern business, innovation and international-standard infrastructure will meet. By 2035, the new Phnom Penh City Center district will be home to over 56,000 residents and more than 190,000 daily visitors. CHECK OUT TWO EXCITING PROJECTS FROM PPCC FOR SALE ON REALESTATE.COM.KH NOW: RESIDENCE 90 | THE EDGEQUALITY LIVING AT THE HEART OF THE CITY Phnom Penh City Center’s 111.6 hectares of open and futuristic urban district space will create opportunities for local and international businesses in the financial, retail, commercial, residential, hospitality, education, medical and entertainment sectors. Its public areas will feature the newest architectural buildings - with towers ranging from 20m to 150m - and will bring modern city conveniences into Cambodia, such as multiple entry points and international-standard traffic and drainage systems. The center’s pedestrian green belt – sidewalks framed by lush greenery – will enable the community to enjoy leisure walks and hassle-free family days out at the 22,000 sqm central park, in addition to other recreational activities made available and accessible to all. AN INTEGRATED TOWNSHIP Guided by an environmentally sustainable approach, Phnom Penh City Center will enjoy a truly integrated township based on its strong, forward looking and consistent master plan. As an integrated township - unlike existing developments in Cambodia - the center is focused on setting up comprehensive infrastructure systems, which includes the deployment of an underground cabling system that will house all utility services away from the public eye, and yet systematically planned to ensure hassle free maintenance. A comprehensive drainage system is also being developed to mitigate flooding in the future. Accessibility is another key feature of the site. Set to ease the perennial traffic congestion and flooding issues Cambodia’s capital continues to face, the Phnom Penh City Center will be linked to the wider city through eight access points, resulting in a more fluid inner city system. Construction of permanent roads and infrastructure have already started and the first phase of the project is scheduled for completion in 2017, with the second phase scheduled in 2019. Last but not least, Phnom Penh City Center is strategically situated opposite the municipality and surrounded by city government departments, including close proximity to the Vattanac Capital Tower, Central Market, French Embassy and Calmette Hospital. CHECK OUT TWO EXCITING PROJECTS FROM PPCC FOR SALE ON REALESTATE.COM.KH NOW: RESIDENCE 90 | THE EDGEAdopting a Sustainable Approach to Job Creation Since 2014, the Phnom Penh City Center has proactively adopted an innovative approach to community engagement and empowerment, recognizing the importance of inclusivity and giving back to the community. Designed to benefit the community as a whole, the project will boost onsite, long-term job creation by engaging with vocational training institutions, therefore pioneering inclusive development and sustainability in Cambodia and the ASEAN region. Upcoming DevelopmentsRetail Office Versatile Office (ROVO) Combining inspirational architecture and functionality, the EDGE offers entrepreneurs and business owners alike an innovative, convenient and flexible business environment. All ROVO units are designed with flexibility in mind, providing space for businesses to be set up according to their preferences. A café, a restaurant, a start-up office, a bank, a boutique hotel, a meeting room or even a music studio, the option is limitless     Residence 90Residence 90 is an exclusive gated development, offering the perfect combination of tranquility and security with urban convenience. Inspired by European architectural models with individual lush landscaping, spacious driveways, private driveway and security features. Located right in the heart of city. Perfect for the modern family. CHECK OUT TWO EXCITING PROJECTS FROM PPCC FOR SALE ON REALESTATE.COM.KH NOW: RESIDENCE 90 | THE EDGE
25169 views
Emerald+: Peace of Mind for your Real Estate Asset
Emerald+: Peace of Mind for your Real Estate Asset
June 6, 2022, 5:05 p.m.
Realestate News
Whether it’s a commercial, industrial or residential property, an integral consideration for investors in the Cambodian real estate market to obtain ample protection for your property. Contact Emerald+ Now!How should I protect my investment property? Protection of your property does not simply mean insuring against potential damage. Though is helpful, insurance policies alone do not proactively secure your property’s value and investment profits - insurance only covers you after something goes wrong. More importantly, proactive maintenance and protection against damage is why enlisting property management services from trusted providers should be part of any investor’s contingency plan and projections. Equipped with setting new standards in the field and regional expertise in the process of managing different property types, Emerald+ will keep every aspect of your property in line. Treating your property like their own, Emerald+ provides their clients the assurance that they will not let anything passed their radar without correct and proper evaluation. How do Emerald+ manage your asset? Emerald+ focuses on preserving your property’s value and future profits through an “on-going management” system which includes building inspections, managing maintenance contracts and managing the entire maintenance schedule. Building inspections will consist of four phases to ensure that your property is above par with regulations and standards. The initial inspection will determine the efficient and safe use of features in the property like fire alarm systems, sprinkler systems, hydrants, special extinguishing systems against electrical malfunctions, and also proper ventilation and smoke exhausts. After going through this initial evaluation, your property will then be put through the final inspection process - this time checking electrical and plumbing systems and fixtures. This will also include the inspection of all appliances, measurement apparatus, and safety features throughout the building. Emerald+ will then make a report detailing whether or not your property totally safe for occupancy and/or operations. Those things in need of attention will be duly noted, and taken care of in the following inspection phases. The third and fourth phases of the inspection process will consist of routine inspections and building maintenance work, which will take care of the minor details you may need to address periodically. Along with detailed inspections, Emerald+ will also manage maintenance contracts such as voucher and software systems, to ensure that your property maintains specific service level agreements and the overall function of your building at all times. Another factor that will be addressed is the maintenance schedule is compliance and legal regulations within your investment property. For this purpose, Emerald+ will set up a helpdesk that will link to all other systems within your building to provide constant monitoring and smooth implementation of policies. What is the value of property management? Having a service provider for property management is not only a matter of convenience for owners; it also becomes cost-effective in the long run. Having experts in the field of property management is essential for the preservation and growth of your investment values, and protecting that asset’s ongoing value. Emerald+ will identify problems before they become damaging to your property and the experience of your tenants. This protects not only your asset, but your reputation as a service provider. And since the team of Emerald+ will be handling all these details, from start to finish, your schedule is freed to focus on making bigger decisions that will impact your properties and investments in the long run. So, if you’re looking for an entity that will not only maintain your property but also care for it as if it were their own, Emerald+ should be your first port of call!Contact Emerald+ Now!
18624 views
Oknha Theng Bunma Passes Away in Phnom Penh
Property Valuation Industry Outlook, with Sim Hoy Chhoung on Realestate.com.khTV
Property Valuation Industry Outlook, with Sim Hoy Chhoung on Realestate.com.khTV
June 6, 2022, 5:06 p.m.
Realestate News
Property valuation is the process of estimating the total value of a property in terms of several factors that are dependent on the industry standards. This may consist of property location, size, future profitability, environment, government policies, and so much more.And since the primary aim of property investment is to get a return of investment and maximizing resources, it is essential that there is an accurate view of the property’s value. While property valuation is performed by trained individuals in the field, even newcomers can benefit from learning the basics. This will make a difference in how transactions are made as it will provide a wider perspective and understanding for people on both ends of the deal. This will ensure that there is significant protection for both the property holder and the entities such as financial institutions, insurers and other parties that also depend on valuations.  There are two main applications of valuation according to Mr. Sim Hoy Chhoung, CEO of V Trust Appraisal Co. Ltd, which he explains in his presentation at the Real Estate Market & Outlook Conference (REMOC) 2016. One of them is property valuation for financial reporting - which is becoming increasingly significant with the importance that the industry now places on the implementation of the International Financial Report Standard. This standard aims to provide consistent and reliable standards based on concrete data. The second application is property valuation for secured lending - where he particularly places emphasis for commercial banks and lending institutions to comply with IVS applications, and also to produce clear conditions of engagement so that there is assurance that the property market will function properly and be well supported by available financing options.Chhoung goes on to show, through a case study of The Central Bank of Ireland, how these applications have made a significant impact on the banking crisis there. In Ireland there were weaknesses in instruction given to valuers, conflicts of interest, failure to conduct frequent valuation reviews, inadequate training and inappropriate use of informal valuations. As a result of these lessons learned, Chhoung sees opportunities for growth in the Cambodian climate, if the National Bank of Cambodia accepts these challenges and seeks to overcome them.LEARN MORE ABOUT THIS TOPIC IN AN IN DEPTH ONE ON ONE WITH REALESTATE.COM.KH & MR CHHOUNGChhoung concluded his presentation by providing suggestions and solutions such as the CVEA and the Ministry working together in providing growth for valuers by providing minimum hours CPD requirements. He also suggests for policy makers to incorporate international standards like the IVS and the RICS professional standards into the local outline for valuation; and to provide even more training and education about property valuation throughout the market. He also calls for banks and financial institutions to consider recommendations for best practices to improve how loans are carried out.While there are already great returns from investments made in Cambodia, it is important to get ahead and obtain proper valuation for your property to ensure sustainability and to anticipate future costs and conditions, should there be any sudden market, infrastructure or policy changes.NEED A PROFESSIONAL VALUATION? INQUIRE TODAY WITH REALESTATE.COM.KH - FAST, EASY, SECURE!
17402 views

3456789
3456789
backnext