Cambodian and Thai authorities are looking to reopen several land border points between the two countries. According to a report by the Khmer Times, 4 permanent border crossing checkpoints can be reopened by December 16, specifically, the points in Ban Khlong Luek Poipet and Ban Khao Din-Ban KM13, and the cross-border trade points Ban Nong Prue-Malai and Ban Ta Phraya-Ban Bueng Ta Kuan.The Ban Klong Luk Border in Poipet is one of the most used crossings for both people and goods traveling between the two countries.The border reopenings come from a decision made by both Cambodian and Thai authorities last Nov 25, 2021.Why were the land borders closed?Land borders were closed between Cambodia and Thailand due to pandemic fears. A considerable number of tourists and workers pass through the border checkpoints every day, especially in Poipet, and border closures were implemented to reduce instances of imported cases.Preparing for an economic reboundPrior to the pandemic in 2019, Cambodia received over 460,000 Thai tourists - a 20% increase from 380,000 Thais who visited in the previous year. Thailand was the 3rd largest contributor of international tourists in Cambodia, right behind Vietnam and China.Borders reopening also allows more tourists to enter either country and contribute to the revitalization of both nations’ ailing tourist economies.Earlier in November 2021, the Cambodian Embassy in Thailand released a report citing an increase in bilateral trade between the two countries. The report observed an increase of 18% in the first nine months of this year compared to the previous year. Bilateral trade between the two neighbours is valued at nearly $6 billion dollars in the first 3 quarters of 2021.Looking for property for sale/rent in Cambodia? Let us help!Article by:

The PARC 21 ResidenceOFFER:Discount 8% on all unitsFully-furnished units, including electric appliancesAdditional discount of 5% depending on payment optionFirst 3 buyers get FREE iPhone 13 Max 256GB (upon SPA*)PARC 21 Residence is a 21-storey building with a total of 132 residential units with a balcony. Located in Boeung Trabek, Chamkarmon, the project is one of the newest developments in an area already popular with locals, expatriates, and tourists for its many shops and restaurants. Its surrounding vicinity is a mix of central business districts and areas earmarked for massive development in the next 10 years.Inquire about PARC 21 ResidenceWorldBridge Sport VillageOFFER:Get $1000 off your booking fee!Get a discount of up to $7,000 on selected property typesPay 0% interest on all down payments for 60 months The WorldBridge Sport Village (WBSV) is one of the most anticipated projects soon coming to Cambodia. Located in Chroy Changvar, it will be the first-ever sports village in the Kingdom and is the designated host of the upcoming SEA Games 2023 and ASEAN Para Games 2023.The project’s most iconic landmark is the directly adjacent 60,000-seater Morodok Techo National Stadium, specifically built for the upcoming regional games and other future events in Cambodia.Inquire about WorldBridge Sport VillageThe Peninsula Private ResidencesOFFER:Discount up to 15% on fully furnished unitsThe Peninsula Private Residence is a multi-awarded project having won the Best Interior Design and Best Architectural Design awards during the 2019 Cambodia Asia Property Awards. This project boasts a unique blend of a private residence, varied facilities, and hospitality-inspired services. The Peninsula Private Residences is the project believed to have put Chroy Changvar on the map of both local and international property seekers in Cambodia.Inquire about The Peninsula Private ResidencesOlympia CityOFFER:Special price $88,888 ONLY (only 2 units available)Discount up to 40% (for other units)The Olympia City is arguably one of the most centrally located projects in downtown Phnom Penh. It is a completed mixed-use development in 7 Makara district with high-rise residential towers supported by purpose-built a shopping mall (The Olympia Mall) and a myriad of local businesses in its surrounding area.Inquire about Olympia CityVue AstonOFFER:Special price for selected units, starting from $97,260 (One Bedroom - 56.4sqm gross area)FREE furniture and electrical appliances packageFREE iPhone 13Pro 128 GB for 30% down paymentThe Vue Aston sits at a waterfront scenery and certainly delivers on a residence built around it. The project pursues high-quality living and satisfies the increasingly sophisticated taste of Cambodian buyers. Vue Aston is already being touted as a choice for urban elites looking to live a luxury lifestyle outside the hustle and bustle of the city center.The Vue Aston is being built close to the upcoming bridge connecting Nirouth, Chbar Ampov and Koh Pich (Diamond Island). It is also adjacent to the upcoming satellite city in Nirouth developed by the Overseas Cambodia Investment Corporation (OCIC) to the tune of US $2.5 billionInquire about Vue AstonMorgan EnMaisonOFFER:River View Units, starting from $660/month, up to 15 years installmentsDiscounts up to $1,888FREE TV, Washing Machine or Refrigerator when signing SPAPay 20% down payment and receive an iPhone 12Morgan EnMaison, which is located on Mekong River Road in Phnom Penh’s Chroy Changvar district, is set to be a riverfront landmark by the Morganford Investment (Cambodia) Co., Ltd. There will even be a private helipad on the 220-metre high rooftop. Morgan EnMaison treats its residents with a multi-level luxury sky club that will give a unique appeal to the skyline. The development also boasts a private yacht marina, one of the few found in Phnom Penh.Inquire about Morgan EnMaison

Cambodia is expected to see a rebound of ~5% according to Knight Frank’s APAC 2022 Outlook Report. Photo from Khmer Times.Cambodia’s reopening has been well underway since October-November 2021. Multiple sectors, especially real estate, are already positioning themselves for the Kingdom’s economic rebound. In late November, Realestate.com.kh reported property developers are looking at price increases over the next 12 months. This begs the question: “Is now a good time to buy before property prices rise?”“Over the past six months, condominium prices in all positions: Affordable, Mid-range, and High-end, have corrected downward by an average of -4.6%. Mid-range and High-end experienced the greatest correction, partly due to developers having marginally more room for price adjustment compared to Affordable,” said Lawrence Lennon, the newly-appointed Managing Director of CBRE Cambodia, an international real estate service provider.Lawrence reminds us of the importance of assessing investments on a case-by-case basis despite the expected growth, saying “Consider a range of factors such as location, project positioning, developer profile, construction quality, unit density, age, price, etc. Put simply, do your homework before acquiring any property.”Ross Wheble, Country Head of Knight Frank Cambodia, a global real estate consultancy, similarly recommends foreign buyers observe the market before making decisions.“Whilst we are certainly bullish for 2020 and expecting a strong rebound in the economy in 2022,” said Ross. “We would recommend still holding off over the short-term as uncertainty remains over global travel restrictions which will impact on foreign investors traveling to Cambodia. With the available stock in the market, we do not foresee price increases over the short-term.”Construction around Phnom Penh has resumed with some projects running 24 hours. Photo from Khmer Times.Prior to COVID-19, Phnom Penh became a hub for investors as many of the new developments in Cambodia are found in the capital city. The pandemic, however, upended the boom and left many developers shifting strategies. But as with any door that closes, another opens.“This is very much dependent on an individual investor's investment strategy, asset type, timeframe, and risk appetite” cautioned Ross, “But we are certainly seeing a lot more activity in the coastal provinces of Kampot and Kep, which will benefit from the investment into the area in preparation for the Southeast Asian games in 2023”Ross highlights that while other areas are seeing promising developments, Phnom Penh will always have opportunities across all sectors given it’s the capital city and the economic hub of Cambodia.“We are now seeing notably higher demand from Cambodian tenants for condominium rentals. We believe there is now a level of support in the rental market at between (US) $300 to $400 per month for one-bedroom units catering to many domestic occupiers,” he said. Ross notes that ASEAN-Expatriates are also contributing to this market demand.Cambodia recently reopened commercial flights from neighbouring countries such as Thailand, Malaysia, and the Philippines following new travel rules for foreigners issued in November 2021.“Where condominium prices go over the next 12 months will heavily depend on overseas buyers' ability to purchase and travel,” said CBRE’s Lawrence Lennon. “Conversely, Q3 '21 witnessed more positive activity in the landed property market, with most sub-categories correcting upward on average price by 11% during Q2 & Q3 - a reflection of Cambodian buyer's preference for landed property over more high-rise formats, though a trend bolstered by the high number of new launches.”“If an investor is looking at Phnom Penh, land prices coming at around US $30 per sqm at the outskirts of the city are definitely worth checking,” said Malay Nop, Branch Manager for IPS Cambodia, a premier real estate agency servicing expatriates and Khmer buyers. She adds that work on national roads across the country is driving prices up. “Land close to the National Road 4 also offers high potential returns, especially around Kampong Speu which can be had for US $5 to $10 per sqm.”“The old adage of 'location, location, location' still holds true but so does 'price, price, price'.” said Ross. “With support in the rental markets at circa $400 per month, there are still opportunities in the condominium sector to generate net returns of 7% but the projects need to be well-located and at a competitive price.”IPS’ Malay Nop agrees, “There are a lot of opportunities now that Cambodia has largely reopened. It’s advisable, especially for new investors, to consult real estate professionals before making decisions”.Looking for property investments in Cambodia? Let us help!Article by:

Phnom Penh’s skyline continued to see new additions to its skyline despite the looming threat of COVID-19. In 2021, projects like the Peninsula Private Residences, PARC 21 Residences, The Peak, R&F City, L’attrait Boeung Keng Kang, and Picasso Sky Garden, are a few of the new developments in different stages of topping out and hand over.The fast and loose construction practices seen no more than 2 years ago seem to have dissipated after the implementation of the comprehensive Construction Law. But the lack of major accidents has not been a sign the government has stopped modernizing its construction practices.In late 2021, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) announced the “Procedures for Supervising and Confirming Architectural Design Plans and Construction Assemblies”, requiring project owners/developers to submit their design (along with already established requirements) for approval from the MLMUPC and/or the capital/provincial administration before being granted a construction permit.New documentation requiredDesign plan: Refers to technical documents for construction work, including architectural plans, building assembly plans or plans and other technical instructions for construction or dismantling and construction use.Project review and certification: refers to the inspection, analysis, verification and certification of compliance with construction technical regulations and other applicable regulations of the design project, calculation of technical instructions for new construction work, repair work, remodeling work, demolition work or change of construction use function as a basis for the competent authority or competent official to provide construction permit, repair permit, dismantling permit, construction permit and new construction use certificate.Necessary documents for applying for a building permitPursuant to Article 9 of the Sub-Decree on Construction Permits, in order to be able to apply for a permit, the property owner must attach the following documents: Certificate of ownership of immovable property or certificate of right to use immovable property or temporary title deedLand title deed and building location plan in the lotArchitectural Engineering Design and ProjectApplicant's Cambodian Identity CardApplication for a construction permit with the signatures of the landlord and the developer. (All construction permit application forms must be made in Khmer and articles in English and French can be attached to the letter of application).According to the "Construction Law", Article 54 clearly states that the competent authority must take action to stop the construction or dismantling work without a permit in case the construction or dismantling requires a permit.In particular, in Sub-Decree No. 224 dated December 30, 2020 on the construction permit, it is stated that all the beginning of the construction process of new construction, modification work, installation work and dismantling work, etc. must have a permit to open the site. Construction first.After receiving the construction permit, the construction owner must apply for another construction permit from the General Department of Construction or from the Board of Governors of the Capital, Province, Municipality, District and Khan according to the size of the construction area. When applying for a permit to open a construction site for construction work, the construction owner must attach the following documents:Construction permitConstruction component design projectGeological study documentsHandbook of construction workConstruction contractOther technical documents for construction workDocuments confirming the signing of the insurance contract, the responsibility for the construction site with the insurance company.Please also note that at the end of the construction work, the construction owner must apply for a permit to close another construction site from the competent authority.Looking for new developments in Cambodia? Let us help!

Real estate markets often bounce back after external shocks either pass or become more manageable. Supplied.Property developers are looking to gradually increase prices in the next 12 months following the country’s economic reopening. This is off the back of the recent easing of measures in October followed by more practical requirements in mid-November - a move welcomed by multiple sectors and made Cambodia a leader in regional reopenings.Realestate.com.kh, the Kingdom’s largest property classifieds portal, reached out to several property developers to gauge their response to Cambodia’s reopening and potential price increases in 2022.“I think that most developers will raise the price when the restriction is eased,” said Wayne Wang, Co-Founder of LumiArch Global, one of the companies behind Le Condé BKK1. “Several developers have already made plans and carefully discussed when they should raise the price,” Wayne noted that though developers are looking to increase prices, they will not be raising them in the short term.“15% to 20% would be what most developers will do, I believe. Any lower than 10% barely alleviates the pressure developers have been experiencing. On the other hand, too much of an increase would slow down sales and reduce the project’s competitiveness” he said.“The price increase is expected,” said Ethan Liu, Deputy Director of Marketing for Vue Aston, a new waterfront development in Chbar Ampov. “Phnom Penh is a fast-developing area attractive for foreign investors. The larger market is already rising, and some developers will adjust the falling prices back to pre-pandemic values.”“We are confident that the average increase will be more than 7%. It will even be much easier for projects who have adapted to local needs to attract foreign investors,” said Ethan. The PARC 21 Residence is one of the projects expected to raise prices as it recently topped out and is on schedule to hand over in mid-2022. Supplied.Developers had to adjust their sales and marketing strategies to meet local preferences for the past 2 years. This was a challenge to many developers who had foreign buyers in mind when they entered the market.Wayne Wang notes that besides international customers being unreachable, there are two other reasons for price drops, “One is that developers are also in tight competition from each other to attract more local Khmer buyers. The most common way of marketing to locals has been to give generous discounts, therefore causing the price of the properties to go down. At the same time, some projects who are approaching handover, also deployed strategies like dropping the price intending to lead to more sales.”Riya Kim, Planning Assistant for La Vista One, a new development in Chroy Changvar, offers a more grounded view, “Housing prices saw a downward trend because most of the local market also had financial and income problems during the pandemic. Most consumers did not want to spend outside of basic necessities.”Real estate markets often bounce back after external shocks either pass or become more manageable. How COVID-19 has been managed in Cambodia has allowed much of its economy to breathe after almost 2 years under a pandemic.“Easing restrictions and re-opening is one thing, but bringing confidence back to the market is another,” Wayne notes. “There are other factors like the price of the air tickets, whether it is really safe to travel, etc.”. While property developers may be looking to increase prices, they are looking to do so gradually as the market regains its footing under Cambodia’s new quarantine regime.Looking for property in Cambodia? Let us help!Article by:

Did you know this spacious bedroom with a riverside view comes for less than $1,500 per square metre in Phnom Penh? Supplied.Cambodia’s property market has seen a surge of interest in the past half-decade. Global pandemics aside, the surge stems from the sector’s promise, made evident by half a year of consistent growth and relatively lower prices compared to its neighbours.Realestate.com.kh, Cambodia’s largest property classifieds portal, has over 30,000 (and growing) property listings across the country. In an effort to connect buyers with the right property, we compiled a list of the top projects with asking prices under $1,500 per square metre:WorldBridge Sport VillagePRICE: $1,183 per square metreCOMPLETION: 2023The WorldBridge Sport Village (WBSV) is a massive development coming soon to Chroy Changvar. Developed by WorldBridge Group, this new project is set to become the first sports village in Cambodia and will be inaugurated through hosting the SEA Games 2023 and ASEAN Para Games 2023. Its most iconic landmark is the Morodok Techo Stadium directly adjacent to it and will serve as the chief venue for upcoming international events!WBSV is a mixed-use development featuring high-rise condominiums, landed residential, and commercial areas. It is considered the most anticipated project in Chroy Changvar coming in 2023.Inquire about WorldBridge Sport VillageThe Bliss ResidencePRICE: $1,469 per square metreCOMPLETION: Completed in 2020The Bliss Residence is an affordable and high-quality residential building in Chroy Changvar. Its residential units come fully furnished with the essentials of a comfortable living. It comes with a spacious balcony overlooking the mighty Mekong river and allows residents to enjoy the cool river breeze only found in Chroy Changvar.Inquire about The Bliss ResidenceMekong View Tower 6PRICE: $1,290 per square metreCOMPLETION: Completed in 2020Its location is arguably chief in what makes the Mekong View Tower 6 such a fine choice within the mid-tier market. The Chroy Changvar district has long been the subject of much speculation within Phnom Penh’s property market. Now that developers have taken a keen interest in the area, retail stores, schools, restaurants, and even government agencies are starting to set up shops in the district.Residents in the Mekong View Tower 6 are sure to find something worthwhile outside their comfortable homes.Inquire about Mekong View Tower 6City GemPRICE: $1,196 per square metreCOMPLETION: 2023CITY GEM is an affordable housing development project that targets local buyers. This condominium is designed and built to meet international standards and suit residents who seek a moderate living lifestyle.CITY GEM Condominium is located in the Sen Sok district, Phnom Penh which is a new real estate development location comprising residential and commercial development.Inquire about City GemResidence L Boeung TompungPRICE: $1,504 per square metreCOMPLETION: Completed in 2021Residence L Boeung Tompun is located in Phnom Penh’s Meanchey District which is one of Phnom Penh’s property development districts experienced in the growth of infrastructure, commercial, and residential development.To support the comfortable living of the residents at Residence L Boeung Tompun, the developer will also provide the amenities and facilities including a swimming pool, gym, jacuzzi, sauna, garden, common space, elevator, internet, TV cable, alarm system, video security, fire alarm, fire sprinklers, and backup generator.Inquire about Residence L Boeung TompunResidence H Sen SokPRICE: $1,123 per square metreCOMPLETION: 2024The Residence H is a condominium project with 28 storeys launched by Residence H Cambodia with the concept of graceful living. The building is set to be a glaring building in the middle heart of Phnom Penh.The Residence H is located in Sen Sok district, and is seeing massive residential and commercial developments. Residence H is interestingly alongside hassle-free rides to Cambodia Airport and all major commercial and business areas.Inquire about Residence H Sen SokArakawa ResidencePRICE: $1,326 per square metreCOMPLETION: 2022Known for its famous category as affordable housing, Arakawa Residence is ideal for limited budget buyers who are looking for ownership in a house that is located in the centre of the city. From the bottom to the top, Arakawa Residence is carefully crafted to ensure you have your dream home. Located in Sen Sok District, this development is great no matter if you are purchasing to reside or to invest back.Inquire about Arakawa ResidenceGreen Leaf ResidencePRICE: $1,178 per square metreCOMPLETION: 2022Green Leaf Residence is a new and exciting apartment project in Phnom Penh. As Purple City Real Estate’s maiden investment here in Cambodia, the developer promises to bring ‘Affordable & Quality Apartment Living’ straight to local clientele.Inquire about Green Leaf ResidenceThe Seven ResidencePRICE: $1,384 per square metreCOMPLETION: 2021The Seven Residence is offering a sleek space in a 27 storey building. Each unit offers plenty of amenities and facilities that you need for a comfortable life in the city. Units span from 51 square metres to 70 square metres. The unit is a blank canvas that you can outfit and customize to your heart’s content.Inquire about The Seven Residence Condominium

Join the Cambodia Real Estate Awards and be a part of one of the most prestigious real estate events of the year. With leading real estate professionals and developers in attendance, sponsors of our events are afforded the opportunity of engaging and networking with participants who invest billions of dollars in their businesses, developments and projects annually, and are continuously looking for new contracts, suppliers and related services.Sponsor the Cambodia Real Estate Awards 2021-2022By sponsoring the Cambodia Real Estate Awards (CREA) companies will have their brand and name directly linked to this prestigious event. The mission of the CREA is to recognize the achievements of the Cambodian real estate industry objectively, without bias or undue influence and on a wholly inclusive basis. With limited sponsorship opportunities available, brands are proud to be associated with CREA.The awards will be available for real estate agencies, valuation firms, property management companies, developers and developments, nationwide. This will give recognition to your company in the real estate sector as it becomes a recognized brand among leading industry professionals.By directly associating your brand with this prestigious event you can benefit from our reach through our extensive pre and post-event advertising campaigns across multiple mediums. During the gala dinner brands will also benefit from logo and display exposure. There will also be a major digital component where the gala dinner will be broadcast across national television, streamed premier-live on The Cambodia Real Estate Awards Facebook page as well as core-partner Facebook pages including; realestate.com.kh, B2B Cambodia, Freshnews & more.If you are interested in entering the awards or becoming a sponsor of the Awards, please click on the link to the official website below, or find contact information below. Sponsor the Cambodia Real Estate Awards 2021-2022Key ContactsCambodia Real Estate Awards - Sponsorship Contacts:Name: Jeff Steeves Position: Business Development ManagerEmail: jeff.steeves@realestate.com.kh Phone: +855 (0) 85 250 962Developers & Development Awards Entry Contacts:English & Khmer: Name: Khiem Darina Stefania (Steff) Position: CREA Developers & DevelopmentEntry Facilitator & REAKH Relationship Manager Email: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Developers & Development Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379Agency Awards Entry Contacts: English & Khmer: Name: Tin Mashington (Ton) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: ton.mashington@realestate.com.khPhone: +855 (0) 81 305 205Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379

Cambodia is home to a population that’s increasingly becoming more involved in its property market. As a result, many local and international agents have sprung up to help property owners and seekers alike in connecting with one another.In an effort to encourage activity, Realestate.com.kh has partnered with the Kingdom’s most reputable agents and built an Agent Directory, complete with their logo, description, and listings for the benefit of property owners and seekers!Realestate.com.kh recently updated its Agent Directory and is now calling all agents - both new and old - to update their agency descriptions, listings, and photos.Cambodia Real Estate Agents DirectoryMost important things to update for agents:Update agency logoUpdate agency description, highlight any awards wonUpdate agency photos (if any)Update registered listingsUpdate agent rosterRealestate.com.kh endeavours to foster increased trust between agents and property seekers & owners by creating an easy-to-navigate directory. If you are an agent listed and have properties on Realestate.com.kh, this is your chance to create a professional profile of your services today!Looking to list your property? Let us know!

BLACK FRIDAY SALE ALERT!What: Black Friday Sale - WorldBridge Sport VillageWhen: November 26, 2021 @ 12:00pm - 6:00pmWhere: WBSV Showroom & 3A Lobby, The BridgeThe WorldBridge Sport Village (WBSV) will be hosting a BLACK FRIDAY SALE this coming Friday in The Bridge Mall. Limited-time discounts will be available along with freebies and the chance to learn more about residential and investment opportunities in and around the WorldBridge Sport Village.Register for Black Friday SaleGoogle Map for Black Friday Sale:What to expect from Black Friday Sale:Exclusive discounts up to $7,000 for Black Friday Sale buyersNewly completed showrooms for 2 and 3-bedroom unitsTake a crack at Golden egg prizes to win home appliancesTalk with agents & developers and get to know the project betterAll interested buyers are encouraged to register by clicking the button below!Register for Black Friday Sale

Given the growth of Cambodia’s economy, the rise in income has contributed to a thriving real estate market. This has led to many Cambodians purchasing homes and property for the first time. But taking out a loan for a home or property is a major financial commitment in life for many. Depending on the type of loan, you may be committing yourself to up to 30 years of installment payments. And what will happen to your home or property if you suddenly die or become totally disabled due to an unfortunate event? Someone in your family will have to fulfill the loan obligation and continue with the loan repayment, otherwise, they will ultimately face foreclosure. This is where Loan Protection Insurance comes in.What is Loan Protection Insurance?Loan Protection Insurance is a type of insurance policy designed to provide you financial protection in the case of death or total disability to cover your loan obligation so your family will not be burdened with paying off your debt. There are different types of Loan Protection Insurance with coverages and benefits that vary between insurance providers but generally, there are two options to choose from which are level and decreasing coverages.Level – refers to coverage that remains fixed throughout the term of the loan. If the benefit payout is greater than the outstanding loan balance at the time of death or total disability, the excess amount will be provided to your family or loved ones.Decreasing – refers to coverage that decreases throughout the term of the loan to match the outstanding loan balance as the principal balance is repaid. Decreasing coverage is generally less expensive than level coverage with a similar coverage amount and term.Eligibility and CostsThe acceptance of coverage and the insurance premium amount for Loan Protection Insurance will depend on a variety of factors including your age, gender, loan interest rate, coverage amount, term, and health condition. Generally, the healthier and younger you are, the lower the insurance premium amount will be.Is It Right For You?The question of whether Loan Protection Insurance is right for you is largely dependent on your specific needs and situation. If you are worried that your home or property will be foreclosed by your lender in the case of your death or total disability, Loan Protection Insurance could be a great option to provide you and your loved ones with a peace of mind. It can be an inexpensive alternative to cover your family’s long-term financial needs compared to settling the outstanding loan when no insurance coverage is in place. Be the responsible person by minimizing your financial risk through insurance and leave a legacy of love for your family, not your debt!If you think Loan Protection Insurance is something you require or if you would like to learn more about it, please contact us today!Inquire about Loan Protection today!

The Cambodian Water Festival is a celebration of renewal and bounty symbolized by the end of the monsoon season. If anything, the recent news of the country reopening clears the cloudy skies much the economy has been under for the past 2 years.To celebrate this season of renewal, Realestate.com.kh has compiled time-limited promotions offered by new developments in Cambodia!New developments in CambodiaWorldBridge Sport VillageWorldBridge Sport Village is a new development in Chroy Changvar. It will be the first-ever sports village in Cambodia, offering a healthy and active lifestyle for future residents! The opening of the WorldBridge Sport Village will be alongside the upcoming SEA Games 2023 and the ASEAN Para Games 2023.Special Offer:Get an instant discount from $2500 - $4000 for all types of CondosGet an instant discount from $5000 - $7000 for Row Houses, Town Houses and Semi-D VillasUp to 60 months installments with 0% interestUp to 8% discount for landed properties and up to 10% discount for condos (based on payment terms)Free Home Equipment: Air-conditioner, Lower Kitchen Cabinet, Shower Set, Kitchen Hood, Electric Hob, etc…WorldBridge Sport Village Property ListingPARC 21 ResidenceThe PARC 21 Residence is a brand new residential development rising in Chamkarmon. The Singaporean-designed project took Phnom Penh’s property market by storm back in mid-2021 for its great location, on-schedule construction, and overall value proposition for both local and international buyers. The project recently celebrated topping out back in September 2021. The project is set for handover in June 2022.Special Offer:Long-term payment plans up to 10-yearsLow-interest rate for applicable loansPARC 21 Residence Property ListingOlympia CityOlympia City is a completed development in the central district of 7 Makara. Olympia City is well-known for its strategic location at the intersection of major roads and nearby the Olympia Mall. It is adjacent to the National Olympia Stadium - a popular destination for city-dwellers looking for a place to stretch.Special offer:Special price $88,888 ONLY (only 2 units available)Discount up to 40% (for other units)Olympia City Property ListingVue AstonVue Aston is a new waterfront development rising in Chbar Ampov. The Vue Aston is one of the most anticipated projects in the district as it is expected to attract affluent residents and investors. Additionally, it is adjacent to the upcoming multi-billion-dollar satellite city development by OCIC and sits comfortably near the new bridge directly connecting Diamond Island and Chbar Ampov. Vue Aston is expected to complete sometime in 2023.Special offer:Special price for 9 selected units, starting from $97,260FREE furniture and electrical appliances packageFREE iPhone 13Pro 128 GB for 30% down paymentVue Aston Property ListingResidence H Sen SokThe Residence H is a condominium project with 28 storeys launched by Residence H Cambodia. The building is set to be a standout building in Phnom Penh’s fastest developing district of Sen Sok.Special offer:5% discountInstallment payment with 0% interest during the construction periodPay only 350$/per month (1 bedroom)Free management fee for 1 yearFree parking space for 1 year Residence H Sen Sok Property ListingPrince Happiness PlazaPrince Happiness Plaza is a new development project developed by the same developers of Prince Central Plaza, Prince Modern Plaza Phase 2, and the upcoming Prince Times Plaza. The development is located in Chamkamorn District, a secondary location to the South of Phnom Penh City. The vicinity area is being developed to be a new high-rise residential and commercial zone with a new number of flagship high-rise buildings and infrastructure developments.Special offer:14% Discount for STUDIO unitsPrince Happiness Plaza Property ListingWater Festival promos will be running throughout the holiday season! If you’re interested in these offers, let us know by checking the property listings or inquiring below.Looking for more new projects? Let us help!

At Realestate.com.kh we care about your property investments! Here are our top picks for the best real estate promotions this November.WorldBridge Sport VillageGet $1000 off your booking fee!Get a discount of up to $7,000 on selected property typesPay 0% interest on all down payments for 60 months Located in the fast-growing area of Chroy Changvar and near the National Stadium where ASEAN games 2023 will be held, just 20 minutes away from the Central Business District of Phnom Penh, this development is full of potential and offers great investment opportunities for small business owners and retail outlets. Book now! Learn more about WorldBridge Sport VillageCentury Plaza Special Topping out Promotion: LUCKY DRAW - 20% OFF on selected shop unitsCentury Plaza is celebrating their topping out ceremony and offering all customers a very special discount. To qualify for the LUCKY DRAW, buyers must first make a down payment of 30% before November 18th, 2021Highlights of Century Plaza:Price: $24,999 Handover in December 2021Over 1000 shops Century Plaza is located in a busy commercial district of Phnom Penh, and has been receiving interest from many businesses of different sizes. It features a multi-level shopping plaza, 4-star hotel with a Sky Bar rooftop and a swimming pool, as well as a large open-air garden. Century Plaza is expected to be the commercial landmark of Por Senchey and will likely be the immediate stop for international tourists and business travelers arriving through Phnom Penh International Airport.Learn more about Century PlazaParc 21 ResidenceLong Term Financing OptionsStarting from $1700/sqmLong Term Payment Plans Available - Up to 10 years!1st YEAR - 0% INTEREST Handover June 2022The PARC 21 Residence is a new residential development located in Boeung Trabek, Chamkarmon. The Singaporean project made headlines earlier this year when it closed several units worth almost a million dollars. Located in the sought-after neighborhood of BKK3, the PARC 21 Residence has been a popular residential and investment choice for both Cambodian and foreign investors and is expected to see further price increases in the coming months.Learn more about PARC 21 Residence

The attention has shifted from foreign buyers to local Cambodians, does the Kingdom’s property market still have a place for foreign property buyers? Supplied.Cambodia’s property market has changed drastically over the past year-and-a-half from COVID-19. Foreign buyers who looked to buy and visit new projects were met with travel restrictions and various other red tape, making it harder for them to pursue their investments in the Kingdom.But that was more than 18 months ago and a lot has changed with travel restrictions lifting and the Kingdom of Cambodia fully reopening since November 1, 2021.Cambodia's new travel rules for inbound foreign travelersWhat has changed in Cambodia’s property market over COVID-19?New projects like PARC 21 Residence have attracted buyers over the pandemic, especially among locals due to its value proposition. Photo from PARC 21 Residence showroom.Developers’ target market changed from foreign buyers to local Cambodian buyersPrices have adjusted downward to meet local preferencesPreviously short payment terms have been extended to accommodate a preference for longer payment plansDevelopers formed partnerships with local banks to facilitate longer payment plansA more involved local market in a fast-growing property sectorWith foreign buyers few and far between, both agents and developers shifted their attention to the local market. It is worth noting that real estate sales and marketing within Cambodia geared towards the local market has markedly been picking up pace prior to the COVID-19 outbreak and the pandemic simply accelerated the shift.Naturally, Cambodians have their own set of preferences and many in the sector have learned to change their sales and marketing approach: First and foremost, most Cambodians looking to buy a condo prefer more affordable projects with longer payment terms. Second - related to the previous point - is that there has been a good mix of Cambodian property seekers buying condos as a primary/secondary home or as an investment.Most banks have had little to do with property developers and have interacted mostly with end-financers (property buyers) even during the height of the market in 2018-2019. But with the landscape shifting, developers have been proactive in forming partnerships with banks to encourage activity by constructing long payment terms adjusted for most local buyers.How can foreign buyers benefit from this shift?Prices may be depreciating, but location certainly isn’t. Projects like the PARC 21 Residence maintain their strategic location while offering flexible payments for both local and foreign buyers. Supplied.It may appear on the surface that this only benefits Cambodian buyers. However, let’s not forget the circumstances that influenced the shift and how fundamental these changes are:Lower prices and more discountsPrior to COVID-19, a property that cost around ~$2,000 per square metre was considered affordable by a foreign buyer, but not so for a typical Cambodian buyer. Price per square metre has dropped anywhere from single digits to even 20%, depending on where one looks since the start of the pandemic.“I believe it [the change in prices] will only benefit foreign buyers as price policy has become more flexible for locals and buyers abroad can take advantage of this shift”, said Peter Guboglo, a real estate investment specialist in Cambodia.There have been a growing number of developments with lower asking prices going as low as $1,300 per square metre. Of course, these come with concessions such as the unit being unfurnished and sometimes as bare as a concrete box. Then again, that does give one the freedom to design and decorate it as they please.Increased partnership with banks for home loans(Left to right) Sathapana Bank CEO, Mr. Fung Kai Jin, and WB Sport Village Co., Ltd CEO, Dr. Simon Vancliff signed an MOU to offer “Flexi Loan Lending” for WorldBridge Sport Village buyers. Photo from WorldBridge blog.Developers have been noticeably active in forming a partnership with banks to increase accessibility for local buyers. However, it must immediately be said that most banks in Cambodia will be stringent when it comes to lending to foreign buyers. However, banks part of an international brand may be more open to assisting. There are several international banks in Cambodia such as ABA (owned by National Bank of Canada), BRED Bank (from France), RHB Bank (from Malaysia), and Maybank (from Malaysia) are a few examples of established international banks in the Kingdom.Nevertheless, it might be an option worth exploring if it so happens that your home country bank has a holding in Cambodia.Foreign buyers are more valuable now than beforeForeign buyers largely fueled the activity of property developments in Cambodia, especially in Phnom Penh in the past 4-5 years. Foreign buyers entering Cambodia usually pay a significant downpayment (30% to 50%) with short payment terms - allowing developers to fill their books with immediate cash flow.On the other hand, while Cambodians are seeing an improvement in annual household income, most still require financial assistance from banks and would often prefer longer payment terms around 10 years. This new status quo has made foreign buyers even more valuable for developers who have been struggling for the past 2 years.Most quarantine measures liftedThe new travel rules were announced in mid-October 2021 after an outbreak-free Pchum Ben holiday season, followed by further easing in November 2021. Photo from Fresh News.In November 2021, Cambodian authorities rolled out new and streamlined rules for foreign travelers coming into the country in a bid to reopen the economy. The most highlighted of these new rules is that foreign investors traveling into Cambodia need only proof of vaccination and negative PCR-test, doing away with costly and time-consuming quarantine requirements. Complete list of new requirements can be found here:Cambodia's new travel rules for inbound foreign travelers“Cambodia reopening is a good move that will attract investors,” said Peter “The biggest thorn of their [investors] side has been the 2-week quarantine for the past 2 years.”Peter, who has been on the phone with foreign buyers throughout the pandemic, notes that buyers he’s talked to are looking forward to the day quarantines are lifted completely. “And now that measures are more relaxed, it’s only a matter of time before interest picks up significantly,” he said.Cambodia is one of the most vaccinated countries in Southeast Asia, making a leader in regional reopeningsAs of November 2021, Cambodia is one of the most vaccinated countries in SEA and has been ahead of its neighbours in reopening the economy through streamlined requirements for foreign travelers, reduction of quarantine periods, and businesses being allowed to operate as they used to (following healthcare guidelines).Throughout the pandemic, the Cambodian people have noticeably been eager to go out, taking every chance to enjoy a long holiday out of town or visit public places. This has grown more pronounced since November 2021 as most of the country is vaccinated and businesses are seeing a considerable pick up in foot traffic once again.Cambodians are more involved in the property market, adding further value to the sectorThe question of “Who is going to buy these properties?” has been a pressing question for Cambodia’s real estate market. Foreign investors and middle-to-upper class Cambodians were often the answer, but that has changed in a matter of 2 years - quite the speed when it comes to real estate.“The shift in terms of sales and marketing has made much of the market more involved in the property market,” observed Peter “This is a good sign for foreign buyers as their condo investment can more easily be sold for locals who want to buy one”.As mentioned above, developers forming partnerships with local banks have made it easier for Cambodian buyers to access financial assistance and make it more commonplace in a fast-growing market.“A product’s value proposition is helped by the demand. Now that condos are more accessible to not just expats/foreigners but more so to Cambodians, the more stable and less prone to risk the market is going to be”. Peter said.Looking for property investments in Cambodia? Let us help!Article by:

Realestate.com.kh is proud to announce the third annual Cambodia Real Estate Awards (CREA 2021-22). This online gala event is held to recognize and celebrate outstanding results and achievements within the Cambodian Real Estate industry.CREA 2021-22 award categories are divided into the following disciplines in real estate:Real Estate Agency AwardsReal Estate Developer / Development AwardsReal Estate Hall Of Fame AwardsWith the growing number of property developments popping up in the Kingdom, we realize the need to recognize these developments in their own right. Thus, CREA 2021-22 is pleased to announce the inclusion of “Real Estate Developer & Development Awards” as a new category to this year’s awards ceremony.Benefits of joining CREA 2021-2022The Cambodia Real Estate Awards 2021-2022 will be a prestigious event celebrating the best of the best in Cambodia's booming real estate sector. Joining the CREA 2021-2022 allows agencies and developers to establish themselves as recognized and trustworthy members of the industry. Winners and nominees also get the following:Expose your brand & development to local & international buyers, homeowners & investorsJudged by respected leaders in the Cambodia real estate industry and the general publicEndorsed by the Ministry of Economy & FinanceWinners receive the CREA iconic trophy & winners plaque to display in your office, showroom & at eventsWinners receive the official CREA seal to use on all marketing material for your developmentWho Can ParticipateAll licensed firms and individuals are allowed to participate in CREA 2021-22, regardless of the size or wealth of their operation. With industry and government involvement from The Ministry Of Economy & Finance, The Cambodian Valuers & Estate Agents Association, as well as, The Housing Development Association of Cambodia, participants can be sure that the process is objective, fair, and done with integrity from start to finish. All these steps are taken to recognize the achievements of the Cambodian real estate industry objectively, fairly, and on a wholly inclusive basis.How To ParticipateTo participate in CREA 2021-22, please get in touch with our team or download the relevant submission form here.Benefits of ParticipatingFurther strengthen your position in the Cambodian real estate marketBe recognized as a leader in the Cambodian real estate industryNetwork with fellow professionals from Real EstateLearn more about new industry developmentsReceive an iconic Cambodia Real Estate Awards trophy and certificateReceive marketing assets to leverage across your businessInterested in learning more about CREA 2021-22? Visit our website at www.cambodiarealestateawards.comOr follow us on Facebook at ‘Cambodia Real Estate Awards’Enter the Cambodia Real Estate Awards 2021-2022Key ContactsDevelopers & Development Awards Entry Contacts:English & Khmer:  Name: Khiem Darina Stefania (Steff) Position: CREA Developers & DevelopmentEntry Facilitator & REAKH Relationship Manager Email: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333 Chinese:  Name: Taing Muyngy (Muyngy) Position: CREA Developers & Development Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379 Agency Awards Entry Contacts:  English & Khmer: Name: Tin Mashington (Ton) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: ton.mashington@realestate.com.khPhone: +855 (0) 81 305 205Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379Cambodia Real Estate Awards - Sponsorship Contacts:Name: Jeff Steeves Position: Business Development ManagerEmail: jeff.steeves@realestate.com.kh Phone: +855 (0) 85 250 962

National Road 5 is one of the major road arteries being developed throughout Cambodia. Photo from the Khmer Times.Pursat Governor Chiao Tai has requested the Inter-Ministerial working group to prioritise work on Pursat province’s section of the National Road 5 (NR5). The governor aims for the section to be completed by year-end or 2022The National Road 5 has a total length of 366km and runs through several provinces, namely, Kompong Chhnang, Pursat, Battambang, and Banteay Meanchey. NR5 serves as an economic corridor connecting the border province of Beantey Meanchey to the capital Phnom Penh. Rehabilitation of the major road has been more a than decade’s-long endeavour segmented into each province it runs through. The project is supported and monitored by the Japan International Cooperation Agency (JICA).The Battambang-Serey Sophorn section was the first to be completed and is currently in use by the public since September 2021.The remaining 3 sections are currently being rehabilitated are Prek Kdam-Pursat (set for 2022), Pursat-Battambang (set for 2023). The final section, Prek Kdam-Poipet, is currently on hold as bidding for the project is ongoing but is aimed to be completed by 2024.The Pursat section of the NR5 will be 23m wide and is expected to support growth for trade, tourism, logistics, and investment in the North-Eastern corridor of Cambodia.Looking for property investment in this area? Let us know!

Last Oct 19, 2021, Prime Minister Hun Sen gave a special message after the Pchum Ben holidays formally concluded. In a special message sent Tuesday, the PM said that after the Pchum Ben festival, there was no outbreak of COVID-19 when the activities of the people were open.The Prime Minister considers this result to be powerful and a result of vaccination, which Cambodia achieved almost 100% as planned.In August 2021, the Mekong Strategic Partners (MSP) published a report detailing Cambodia’s swift progress in its vaccination in terms of vaccination doses per capita and leading most of its ASEAN neighbours, only surpassed by Singapore.The IMF World’s Economic report suggests that the rate of vaccination is a good indicator of when economic recovery can begin. “Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs: those that can look forward to further normalization of activity later this year (almost all advanced economies) and those that will still face resurgent infections and rising COVID death tolls.”The government set Pchum Ben (October 5-7), a major 3-day holiday in Cambodia, as a benchmark of how effective Cambodia’s vaccination campaigns have been. And with cases falling well below threshold, the government hinted at more concrete steps for reopening.On October 18, the Royal Government, through the Ministry of Health, announced new travel rules allowing investors, experts, workers, and tourists to visit Cambodia with reduced quarantines times and cost provided they have the proper documents and vaccinations.A report by the Khmer Times quoted Anthony Galliano, CEO of Cambodian Investment Management. “There is clear bias given to business travelers with priority given to spurring the economy, a continuation of stalled projects, and to stimulate faltering Foreign Direct Investment.”EuroCham President Tassilo Brinzer also told Khmer Times, “It seems a bit overly detailed and regulated – let’s face it, Cambodia has one of the most successful records in fighting COVID-19, including vaccination rates, and should proudly be opening again, equally for everyone with the respective safety certificate.”To further support a reopening of the market, the Royal Government has reinstated the issuing of E-Visas for travelers. However, as of posting, Visas-On-Arrival is not yet available.New travel requirements to CambodiaAnd while Cambodia is opening back up for international business and travel, the challenge of airlines chartering regular flights to the Kingdom remains uncertain in the short-term.Nevertheless, PM Hun Sen continues to call on those who are not yet vaccinated in Cambodia. In a report by the Khmer Times, he said, “Get vaccinated to get health protection from COVID 19 because the vaccine is the most effective way to resist this vicious disease.”Article by:

The WorldBridge Sport Village, Cambodia’s first-ever sports village is offering a special discount this Commemoration Day!What is the discount?WorldBridge Sport Village is offering a discount of up to $7,000 on the following unit types:Studio apartments (10 units)1 bedroom apartments (5 units)2 bedroom apartments (5 units)3 bedroom apartments (5 units)Row houses (5 units)Town houses (5 units)Semi-detached villas (5 units)How to claim the discountSimply make a booking fee of $1,000 (sale price deductible!) from Commemoration day until November 9, 2021 (Tuesday). Making a booking within the promotion period lets you get the discount regardless of what payment option you choose.The WorldBridge Sport Village is also offering a 0% downpayment for 60 months applicable on ALL condos and select landed properties ranging from Semi-detached villas, townhouses, and rowhouses!Inquire about WorldBridge Sport VillageAbout WorldBridge Sport VillageWorldBridge Sport Village (WBSV) is the first sports village in Cambodia. Located in Chroy Changvar, the WorldBridge Sport Village is directly adjacent to the new Morodok Techo National Stadium and is the designated venue for the upcoming SEA Games 2023 and ASEAN Para Games 2023.WBSV is developed by the WB Sport Village Co., Ltd, part of the WorldBridge Group, a Cambodian conglomerate known as the choice partner for international brands entering the Cambodian market.Learn more about WorldBridge Sport Village

Cambodia’s economy has rapidly developed since 2016 with its booming tourism and real estate sectors. The new opportunities attracted many investors and furthered the prospects of the Kingdom as a new regional investment hubHowever, as COVID-19 became a pandemic, Cambodia’s status as a destination for international investors was dashed. Many expatriates went home and a lot fewer international investors are coming into Cambodia due to flight cancellations and quarantine red tapes. This resulted in the diverse talent pool in private companies dwindling, leaving many vital gaps in their operations.And with talent being the foundation of many enterprises, how have companies in Cambodia been able to manage in these tough times? Simple: with the help of executive recruitment.RISFOND Executive SearchRisfond Human Resources Group Limited Company (锐仕方达) was founded in Beijing in 2008. The company has been operating for 13 years and has become a quadruple-A-level human executive recruitment agency in China.Risfond has more than 160 branches in over 70 cities and employs around 4,000 employees. It provides services such as core talent recruitment, talent assessment, recruitment process outsourcing (RPO), background checks, and other vital human resource operation services.A leading professional service providerOver its years of operation, the company has filled in high-end management talents for organizations all over the world and boasts corporate contract recruitment of more than 80%, making it one of the leading executive recruiters in the world.As of December 2020, Risfond has recorded more than 62,000 successful cases across multiple industries like Real Estate & Construction, Medical & Pharmaceutical, Energy & Chemicals, Financial Management, Telecommunication, and many other fields.Leader in technological innovationThe Risfond Network Search System (RNSS) is a proprietary database developed by Risfond’s technology division to facilitate intelligent human resource search and management for its clients.Today, over 40,000 companies are part of this system constantly viewing more than 10 million profiles for executive positions. This database is increasing at an average rate of 6,000 new resumes daily.Providing market advantagesRisfond has more than 160 offices in 70 cities around the world, including Beijing, Shanghai, London, and Phnom Penh. Risfond operates in each new city by investigating the local human resource situation to provide the right candidates for major overseas companies like:Global reach with local rootsRisfond attributes part of its global success to the many local communities it has been a part of, and it has returned the support through its many social aids and initiatives:Raised 300,000 RMB (~46,000 USD) to purchase 57 tons of materials to aid WuhanHangzhou branch organized a donation drive at Youzai Primary School in Yanggao CountyChengdu branch entered Huaxi Middle School to carry out charity assistance activitiesRisfond in Phnom Penh, CambodiaRisfond in Phnom Penh was formally established in November 2017, its office is located on Diamond Island in Phnom Penh.Risfond Phnom Penh’s service area covers the Southeast Asian region. The Phnom Penh branch also serves as an important hub for overseas regional companies to recruit Chinese, European and American core talents.Since its establishment, Risfond Phnom Penh has recruited nearly 100 executives for various industries such as real estate, hospitality, legal affairs, marketing, manufacturing, finance, and insurance in Cambodia.Risfond Phnom Penh Contact Information:Jonathan LuoRisfond, Phnom Penh General Managerjonathan.luo@risfond.comMina WuRisfond, Recruitment Consultantmina.wu@risfond.com

Phnom Penh's property market activity continues to be stifled especially in the month of September where daily cases picked up. As has been the trend, the rise in cases and the spread of the delta variant coincided with a dip in median sale prices and search queries for both new and existing condo projects.It is important to note, however, that despite the recent rise in new cases in September, figures are still well below the peak experienced in July 2021. Cambodia’s vaccination drive and constant reminders of health guidelines have paid dividends in meeting its target vaccination of more than 80% in late September 2021.The vaccination push, now focused on the younger demographic, has led to government officials mulling a full reopening of the economy - highlighting the country will be open to vaccinated tourists and investors.Tourism plays a key role in Cambodia’s real estate market. According to the Asia Development Bank, the industry provides a significant 2.2 billion USD (11.5%) of GDP and employs almost 800,000 people. It is a large part of the economy playing a hand in how residential rentals (apartments/guesthouses/hotels) and commercial rentals (shopping/community malls, shophouse-based businesses) perform in a given period of time.Allowing more visitors to enter the country - given safety measures are in place - will reintroduce the promise of growth that attracted foreign investors to Cambodia in the first place. The final decision to reopen is expected to be made public by late October 2021.Sales pricesSales prices for 1-bedroom and 2-bedroom properties saw a dip in September by as much as 5%. This may be attributed to the new daily cases of over 800 recorded towards the end of the month. Recorded sale prices noticeably decrease during months of daily cases peaking, causing concern and reservation from property buyers.Standing out from the pack are 3-bedroom apartments, seeing a bump of 7% in median sale prices.Overall condominium price trendOverall condominium price trendUnit TypeMedian Price Per SQMMedian Unit Size1-bedroom$1,761 (-5% from August)45 sqm2-bedroom$2,061 (-5% from August)75 sqm3-bedroom$2,387 (-7.5% from August)121 sqmPressure from COVID-19’s persistence is felt more by new developments in Phnom Penh. Popular developments like WorldBridge Sport Village have introduced a new set of discounts across its high-rise and landed property selection.For the past half-decade, new developments in Phnom Penh have mostly attracted foreign buyers looking for property investment opportunities. But with the Kingdom’s de facto “closing off” to most tourists and international travelers, prospects of these properties to the international market dwindled through 2020 and most of 2021.Rent priceRent prices continue to experience pressure from the lack of tourists, the exodus of expatriates, and the overall tenant pool dying up the longer quarantine measures are in place.As of September 2021, median rental prices by bedroom in Phnom Penh are:1-bedroom apartment rent per month: 600 USD (No change from August)2-bedroom apartment rent per month: 950 USD (5% change from August)3-bedroom apartment rent per month: 1,800 USD (No change from August)Since borders are still largely closed, the tenant market remains small, allowing renters some room for negotiation. Though this might change when Cambodia decides to reopen pending a decision from the Royal Government.NOTE: Values displayed above are median prices. Newly listed affordable accommodations in prime areas can be found on Realestate.com.khPopular districtsCharmkarmonRemains the most popular district to look for property in Phnom Penh in September 2021. It is a popular place for renters both local and foreigners looking for accommodations at reasonable prices. Popular subdistricts are Tonle Bassac and Toul Tompoung I.Most popular properties searched:Apartment/condoLanded houseCommercial propertyLand propertyBoeung Keng KangThe BKK1 area specifically remains a popular choice among many property seekers, especially among the well-to-do in Phnom Penh. The BKK district’s popularity stems from its central location, modern residential choices, and quality of life services.Most popular properties searched:Apartment/condoLanded houseCommercial propertyLand propertyDaun PenhThe primary CBD of Phnom Penh where key tourist attractions are located and where most multi-national companies are based. It is the central district and most developed district of Phnom Penh.Most popular properties searched:Apartment/condoLanded houseCommercial propertyLand propertyChroy ChangvarChroy Changvar came on top 5 most searched districts with many high rises and landed developments popping out in the area. This peninsular district has overtaken other outer districts like Sen Sok as property developers and home buyers look to this area as the next suburban development hotspot in Phnom Penh.Most popular properties searched:Landed houseApartment/condoLand propertyCommercial property Toul KorkToul Kork came back to the top 5 most searched districts due to a notable increase in search for landed homes. And given its central location, adjacent to Daun Penh CBD and the fast growing Sen Sok district, it's little wonder that people are still looking in this packed area.Most popular properties searched:Landed houseApartment/condoLand propertyCommercial propertyThe fear of another outbreak has been influential in the domestic and tourism policy within Cambodia for the past 2 years. The relaxing of some measures have helped slightly alleviate the pressure many businesses, including property developers, have been struggling with. And with news from the government mulling a full reopening, Cambodia’s real estate market may see things get better in 2022.Looking for property in Phnom Penh? Let us help!Article by:

Cambodia’s reopening is a boon many in the Kingdom have been waiting for. Supplied.Cambodia’s relentless efforts in fighting its COVID-19 situation have been a tough 2 years with over 100,000 infected and around 2,500 deaths. But as vaccines continue to be administered, daily infection rates on the decline, and overall adjustments made by individual Cambodians, the Royal Government is now examining a full reopening.The announcement came from Prime Minister Hun Sen during the Council of Ministers meeting last Oct 8. The Prime Minister observed that COVID-19 cases remain stable with fewer than 20 deaths recorded per day.“If the situation remains stable in the next 10 to 15 days, and if we can maintain transmission and death rates as we do currently, it may be time to reopen the economy all sectors, but only through the new normal following the 3 dos and 3 don’ts,” he said.Cambodia’s reopening has been the subject of discussion for many in Phnom Penh’s business circles. In August 2021, the Mekong Strategic Partners (MSP), an investment and advisory firm based in Cambodia with operations across the Greater Mekong region, published a report showing Cambodia leading most of its ASEAN neighbours in vaccination rates.As of the 4th week of September, Cambodia has vaccinated around 82% of its population, according to a report by the National Ad-hoc Commission for COVID-19 Vaccination.The path to herd immunity is slowly but surely coming to reality. In late September, Prime Minister Hun Sen shared that the government has taken steps for Cambodia to safely reopen as a tourist destination for vaccinated tourists - with a target for international travel to reopen by Q4 2021.While tourism and hospitality sectors will be the direct beneficiaries of a reopened Cambodian economy, many in the real estate market will also be celebrating.Realestate.com.kh, the leading real estate classifieds portal in Cambodia, notes much of the slowdown in market activity has been due to restrictions and fears surrounding COVID-19. Prior to the pandemic, much of the property market has been fueled by the influx of foreign investors looking to secure property in the Kingdom’s real estate.Silvertown Metropolitan is a popular choice among expatriate renters in BKK1. Learn more about Silvertown Metropolitan here.High-end properties located in central districts like Daun Penh, BKK1, 7 Makara, Koh Pich, Chamkarmon, and Toul Kork were the choice of many property investors. Developments in these areas saw a significant decrease in sales activity as travel restrictions came into place, and foreign buyers were unable to visit projects they’re interested in.The rental market also suffered greatly as it has closer ties to the tourism sector, especially in Phnom Penh and Siem Reap. The onset of COVID-19 slashed tourist arrivals by as much as 90% as of June 2021, according to a report by the Ministry of Tourism.The rental pool in major cities further dwindled as expatriates flew back to their home countries while those who stayed largely moved to lower-cost accommodations.AEON Mall 1, frequented by residents on the weekends, saw significant decline in foot traffic after the Nov-28 incident back in 2020. Photo by Khmer Times.Commercial properties like community/shopping malls have similarly been enduring the effects of the pandemic. In a report earlier this year by The Mall Company, almost 60% of retailers that closed in 2020 were in the Food & Beverage business, primarily due to the lack of foot traffic. Realestate.com.kh similarly covered the closures with some F&B operators heavily relying on food delivery services to simply break even.The reopening of the larger Cambodian economy, especially to tourists is a boon many have been waiting for. Reducing restrictions and allowing more travelers to come in with tourists filling in the many rentals in Siem Reap and Phnom Penh, and property investors finally being able to physically visit properties they’re looking into.With the Kingdom on the verge of reopening, confidence in being able to go outside once again is expected to reintroduce a sense of confidence back into the economy, albeit one that follows a new normal.Looking for property in Phnom Penh? Let us help!Article by: