As the most prominent online portal for Cambodia's real estate market, Realestate.com.kh data indicates that the Kingdom’s housing market is slowly recovering. Major investors are still purchasing properties in high-quality developments which could offer potentially high returns along the city’s riverfront. In the capital Phnom Penh, after the Cambodian property market was flat for two years, leading developers are returning to boost the market and are identifying the strategic properties along the Mekong, Tonle Sap, and Bassac Rivers.Since March 2022, among the most eye-catching projects in Phnom Penh are top-quality housing developments incorporated within the conceptual "Bay Area". Properties which are tagged under 'River View', 'Riverfront', and 'Waterfront' are associated with stylish and in-demand urban living and are being snapped up for their future potential. Within Cambodia and other cultures, there is a strong connection to water and major cities and towns in Cambodia are connected by the Mekong River. In Phnom Penh, construction and businesses have sprung up on either side of the Mekong’s banks. The neck-breaking advanced development and changes in Chroy Changvar, on Diamond Island (Koh Pich), and in Koh Norea, as well as the strategic city planning of Khan Chbar Ampov and Arey Ksat are clear indicators that the ‘bay area’ will attract affluent urbanites from within the country, and from overseas.High-end modern apartments and sky-high mansions have gradually become popular in the ‘bay area’ of ​​Phnom Penh, and most of them currently occupy excellent and panoramic riverside views. If you have ever visited the sites of these projects, overlooking the broad urban landscape ringed by rivers, you will appreciate their popularity and sense of serenity. With the accelerated infrastructure construction and development in the capital, bridges across the rivers are being built and more are planned, not only to alleviate the traffic but as a result of the expanding urban sprawl which is also opening up new exciting areas for development. These large bridges are all funded via a mix of local and other Asian government support from Korea, Japan and China and are aptly named ‘Friendship Bridges’. Once these new access routes and bridges are open to traffic, the value of a new land naturally rises - It's logical to identify that areas such as Arey Ksat village (within Kandal Province) are included within the territory of Phnom Penh City. Phnom Penh's ‘bay area’ economy looks set to thrive in all aspects.The charm of the riverside lies not only in the refreshing and natural environment, but the flows of the rivers in the capital flow north to south, which means the banks of a river face either sunrise or sundown, offering beautiful starts and ends to the day in tropical Cambodia.What is most appealing is that the tip of the Chroy Changvar peninsula, Diamond Island, Khan Chbar Ampov, and Arey Ksat together enclose the confluence of three well-known and vital rivers. This natural landscape offers an incredible and enviable view for many riverside residences. Those interested in buying fantastic and affordable riverside properties in Southeast Asia, specifically in Cambodia - shouldn't miss out on this great opportunity!See the most popular riverfront condominium projects below.MORGAN EnMaison Diamond Bay Garden Vue Aston The Peninsula Private Residences Wealth Mansion La Vista One   Looking for property in Phnom Penh? Let us help!

National Road 11 passes through the countryside east of Phnom Penh. Supplied.Infrastructure projects are often generational endeavours, meaning that if a project starts today, its full benefits could only be realised a generation or two later. But Cambodia, despite the pandemic, continues to make strides in its national infrastructure and is pushing the calendar up in reaping the benefits.The most recent of these projects is the completion of National Road 11 (NR11). Realestate.com.kh, Cambodia’s largest online real estate classifieds portal, observed that land prices around the roadway have been picking up since it finished construction in late 2021.The construction of National Road 11 has an estimated cost of about $98.388 million US dollars, financed by the Commonwealth of the People's Republic of China. The road’s construction began December 2017 and took 44 months to complete. The road was inaugurated on December 6, 2021 by the Royal Government of Cambodia.National Road 11 was inaugurated in late 2021. Supplied.Much of the value of the land adjacent to the national road was between $40 to $50 per square metre. This price has nearly doubled to anywhere between $70 to $80 per square metre as of reporting. This jump in price is not uncommon in Cambodia’s fast-developing real estate sector.In 2019, the development of the 202 km-long National Road 3 started driving land prices in areas in crosses. For example, Chaom Chao to Kampong Toul Bridge - right at the city boundary of Phnom Penh - to well over $200 per square metre. Past Kampong Toul Bridge, land properties around $20 per square metre have risen to almost $80 as road infrastructure projects approach completion.National Road 11 connects economic corridors vital to Cambodia’s development plans. Supplied.The development of National Road 11 has attracted property developers and other land investors. There have been inquiries coming from warehouses, gas stations and other entrepreneurial projects over the months since being inaugurated.National Road 11 links two economic corridors in Cambodia, namely: National Road 6 leading to the Cambodian-Thai Border in Poipet and National Road 1 which leads to the Cambodian-Vietnamese Border in Bavet.NR11 stretches 96 kilometres from the National Road 1 intersection in Neak Leung in Prey Veng Province, just before the boundary with Kandal. NR11 then intersects with National 8 and ends with an intersection with National Road 7 further up north, allowing transportation vehicles to bypass the busy roads of Phnom Penh to get to National Road 6.National Road 3 and 11 are but a few of the many other national infrastructure projects the Royal Government is currently overseeing. Prices around these roads are expected to increase in price as more investments, particularly in manufacturing and logistics in Cambodia drive the need for a reliable national road network.Looking for property in Cambodia? Let us help!Article by:

The General Department of Taxation in Cambodia consistently exceeds yearly targets, giving the government much-needed funds for social programs and infrastructure development. Photo from Khmer Times.Cambodia’s Capital Gains Tax (CGT) is delayed for the 4th time until the end of 2025. 9The postponement of the tax likely stems from the government’s record of waiving taxes and other fees to further foster economic activity, especially in the Kingdom's real estate market.Contrary to popular belief, the Capital Gains Tax is not a new tax; businesses in the Kingdom have always paid this tax. The CGT that was supposed to go into effect recently was an expansion of its tax base, specifically covering individuals buying and selling properties.Before the pandemic, the surge seen by the construction and real estate sector was driven by high interest from foreign investors looking at Cambodian properties. In 2019, capital investments in construction amounted to over $9 billion and grew to over $10 billion two years later in 2021.Despite the pandemic, the country’s real estate market has largely remained afloat with much of the sector shifting its focus to the local market. According to CBRE Cambodia’s Fearless Forecast 2022, the compound annual growth rate for the CBD and inner city is around 10% over a decade while those of the outer suburbs went up as high as 20% over the same period.Phnom Penh’s urbanisation continues to expand on the back of the local market’s desire to have landed homes - a demand most apparent in the suburbs developing in the districts of Chroy Changvar, Sen Sok, Por Sen Chey and Meanchey.Interested in properties in these areas? Let us help!How does the Capital Gains Tax work?Cambodia's upcoming Capital Gains Tax is considered one of the most generous in the region. Photo from Khmer Times.Cambodia’s Capital Gains Tax is a flat 20% rate from selling a capital asset. The CGT covers capital gained from selling: Immovable Properties (real estate), Leases, Investment/Financial Assets, Goods (Licenses & Branding), Intellectual Property, and Foreign Currency.As mentioned earlier, the current CGT is an expansion of the tax from businesses to individuals. According to Realestate.com.kh’s overview of Capital Gains Tax, the CGT expands its tax base to Resident Taxpayers and Non-Resident Taxpayers. Persons falling into these categories are obligated to pay their CGT within 3 months of realising their gains.There are currently two methods taxpayers can employ when paying their dues. First is the Actual Expense Deduction Method and the second is the Determination Based Method.The Actual Expense Deduction Method takes the sales total proceeds and subtracts the expenses the seller made to get the Capital Gains Tax to be paid. These deductibles can be the purchase cost, consulting fees, registration tax, commissions, and even advertising. These expenses are taken from the final proceeds and 20% of the difference will be the Capital Gains Tax to be paid. This method is beneficial for property sellers who spend a lot on overhead/operational costs.The Determination Based Method takes 80% of the sales proceeds and subtracts them from the entire sales value. The difference will be the Capital Gains and 20% of it will be the Capital Gains Tax to be paid. This method is highly beneficial for property owners who buy low and are planning to sell high.Under the current version of the CGT, taxpayers are free to choose which method they feel will be a lighter tax obligation for them.Learn more about Capital Gains TaxImplementation of the CGT has been a long time coming and many developing nations have their iterations. The CGT’s base expansion is expected to further add to the General Department of Taxation’s already impressive consistency of exceeding its yearly targets.Looking for property in Cambodia? Let us help!Article by:

Cambodia’s economy has reopened since November 2021, giving it a headstart in the regional race to attract foreign travel and business post-pandemic. Photo from Khmer Times.Cambodia now leads much of the world in its path to recovery from COVID-19. According to the Nikkei COVID-19 Recovery Index, Cambodia jumped from 22nd place in December to 2nd place in January, just behind Taiwan at the number 1 spot.Cambodia’s current success with its pandemic situation is largely attributed to its early management of cases: less than 500 reported cases and 0 deaths in 2020. The Kingdom only saw its first major outbreak in the Feb-20 incident and prompted the government to impose the first major lockdown in the summer of 2021.The Cambodian government has since been relentless in its vaccination efforts mainly backed by Chinese-made vaccines. In August 2021, Mekong Strategic Partners (MSP) released a report that projected Cambodia to reach 80% vaccination by Q3 2021, 8 months ahead of schedule.Aside from the weekly arrival of vaccines into the Kingdom, the MSP highlighted the systematic rollout of vaccination campaigns nationwide and the efforts made by the private sector, especially during the months following the Feb-20 incident.Cambodia’s high vaccination rate has been integral in reinstating confidence in the local economy. Supplied.However, the most essential factor in its pandemic control has been the noticeable low vaccination hesitancy from Cambodians. In addition to seeking out vaccines, a majority of the local population has taken it upon themselves to observe basic quarantine measures such as wearing masks, social distancing and sanitizing regularly.In October 2021, the Cambodian government hinted at reviewing its local quarantine measures as well as its foreign travel requirements. Many observers, including economists and the press, anticipated a step-down or two from the current 14-day requirement. To the surprise of the same onlookers, the government eventually removed quarantine requirements for fully-vaccinated travelers and did away with the pricey $2,000 quarantine deposit in November 2021.The new requirements for foreign travel to Cambodia were made far simpler only requiring proof of vaccination, a negative RT-PCR test 72 hours prior to departure and another negative test upon arrival at the port of entry in the Kingdom.Naturally, a declaration of full reopening was made in November 2021, given the streamlined requirements and gave Cambodia a headstart in the regional race to welcome foreign travelers and business once again.A Market Primed for ReboundCambodia’s banking and financial sector has served as a bulwark for the Kingdom’s economy throughout the pandemic. Supplied.The WorldBank and the Asia Development Bank both forecast a ~5% GDP growth for Cambodia in 2022, mainly attributed to a strong financial sector and the economy reopening in late 2021.Construction and real estate - key drivers of the massive growth in the Kingdom - are similarly seeing signs of recovery in early 2022. In December 2021, the Ministry of Economy and Finance announced almost 4,000 projects, amounting to over $10.35 billion USD were approved in the first 11 months of 2021.Nationwide infrastructure projects have also been ongoing throughout 2020 and 2021. According to the latest update from the Ministry of Public Works and Transport (MPWT), the Phnom Penh-Sihanoukville Expressway is 80% complete as of January 2022 and is expected to open to traffic in March 2023.According to the National Bank of Cambodia (NBC), there is cause for optimism for the construction and real estate sectors in 2022. NBC cites a pick-up in domestic economic activity and investment since the economy reopened in late 2021. The NBC adds that rising domestic revenue and local interest will be the key drivers of the Kingdom’s property sector growth.Looking for property in Cambodia? Let us help!Article by:

The Cambodia Real Estate Awards 2022 will be held at the Sofitel Phnom Penh Phokeethra. Supplied.The Cambodia Real Estate Awards 2022 (CREA), organized by Realestate.com.kh in partnership with the Cambodian Valuers and Estate Agents Association (CVEA) and the Real Estate Business Regulator (Under the Ministry of Economy and Finance) is set for this coming April 7, 2022 in the Sofitel Phnom Penh Phokeethra.Since 2018 the annual event has celebrated the very best of the real estate industry’s agents and agencies and awarded their efforts in providing quality products & professional services to Cambodia’s fast-expanding market. This year will be the first year that property developers and developments have been included in the CREA through categories such as Condominium Developer of the Year, Borey (Landed Property) Developer of the Year, Commercial Developer of the Year, and of course, Developer of the Year.“Of course, property developers play a major role in the real estate industry, so it was only natural to add developer categories to the Cambodia Real Estate Awards' ' said Tom O’Sullivan, CEO of Realestate.com.kh. '' Despite the challenging times we faced during the pandemic, the market saw several projects launch over the last two years whilst others reached the handover stage - instilling continued confidence in the market”“We have been overwhelmed by the number of entries this year, with over 30 companies already entered, with more to come. So in terms of the number of entries, this is certainly the most successful real estate awards in Cambodia to date. In addition, we already have over 300 seats booked for the 7th of April and selling fast, so I do encourage anyone looking to sponsor or attend to get in contact as soon as possible as the event will sell out” “As the organizer of the CREA, Realestate.com.kh is looking forward to seeing agents, agencies, property developers and more during the ceremony as a celebration of all the achievements made during some of the hardest times in the industry globally, on April 7 at the Sofitel Phnom Penh Phokeethra” Tom said.The awards are sponsored by Panasonic, Hanuman Beverages, foodpanda, KH Land, LM Car, Lukfook Jewellery, Midea & Toshiba, Sathapana Bank, People & Partners Insurance, Yugo Private Aviation, Bodia Spa and many others. The annual Cambodia Real Estate Awards is considered the premier property awards in Cambodia. And with the excitement building up for the event, interested brands looking to expand their reach are encouraged to secure the last few remaining sponsorship slots for the CREA 2022.Sponsor the Cambodia Real Estate Awards 2021-2022Key ContactsCambodia Real Estate Awards - Sponsorship ContactsName: Jeff Steeves Position: Business Development ManagerEmail: jeff.steeves@realestate.com.kh Phone: +855 (0) 85 250 962 Developers & Development Awards Entry ContactsEnglish & KhmerName: Khiem Darina Stefania (Steff) Position: CREA Developers & DevelopmentEntry Facilitator & REAKH Relationship Manager Email: stefania.khiem@realestate.com.kh Phone: +855 (0) 10 699 333 ChineseName: 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 & KhmerName: Tin Mashington (Ton) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: tin.mashington@realestate.com.khPhone: +855 (0) 81 305 205

Realestate.com.kh and Orkide Development Co., Ltd, “Orkide” partnered up to showcase the Royal Condominium in Sen Sok to both the local and international markets. Supplied.Orkide Development Co., Ltd, “Orkide”, one of the biggest property developers in Cambodia, signed on Realestate.com.kh, the largest real estate classifieds portal in the Kingdom, as sales and marketing partner for its latest luxury project: Orkide The Royal Condominium.Orkide The Royal Condominium is a sprawling development in Sen Sok district. This large, upscale residential project consists of six 18-story towers offering nearly 2,000 residential units. The project’s crowning glory: The Royal Garden covers an area of ​​3.2 hectares and has 12 different areas, including artificial sandy beaches, green gardens, playgrounds etc., with more than 100 facilities, including swimming pools, luxury gyms, steam rooms, saunas, walking paths, and bicycle paths.Orkide’s sprawling condominium complex holds no punch in delivering a bevy of top-class amenities in a market eager for a premium city life. Supplied.Orkide The Royal Condominium sits at a convenient location in Sen Sok district along Street 2004. Located in the mid-point between the Phnom Penh International Airport and the capital city’s central business district, residents of Orkide the Royal Condominium enjoy modern urban staples such as international schools, wet & dry markets, supermarkets, and a wide selection of shops, restaurants and cafes on top of the class-A amenities easily accessible within the complex.The Royal Condominium will have a total of 6 residential towers connected by the 3.2 hectare Royal Garden. Supplied.“Orkide Development Co., Ltd is a hallmark of Cambodian property development.” said Tom O’Sullivan, CEO of Realestate.com.kh. “We’ve had a working relationship with them for years and their projects that have entered our events notably attracts strong interest from local and international property buyers”The Royal Condominium boasts several swimming pools and other open areas all comfortably located within the complex. Supplied.Orkide The Royal Condominium is the latest addition to Orkide’s portfolio of luxury properties. As a leader in developing modern residences in the Kingdom, the Orkide Development Co., Ltd has successfully developed high-end residences such as Orkide The Botanic City, Orkide The Royal, and Orkide The Grand. Other upcoming projects include Orkide The Pochentong and Orkide The Canal.Orkide The Royal Condominium’s handover comes at the right time as Cambodia’s successful pandemic management is gradually reintroducing confidence on multiple fronts of the market. “The beginning of 2022 is off to a good start,” noted Tom O’Sullivan. “The Cambodian real estate market has increasingly been catering to the needs of the Khmer market and consequently strengthening interest in the property sector.”Interested? Orkide is running a 10% down payment offer with the option to move in right away. Supplied.And with the economy poised for recovery, the Orkide Development Co., Ltd is leading property developers in opening its new premium residential project alongside the larger economy. As a way to celebrate, Orkide The Royal Condominium is currently offering buyers a 10% down payment option with the option to move in right away.Learn more Orkide The Royal Condominium

Phnom Penh is the epicenter of the Kingdom's construction and real estate growth for much of the decade. Supplied.Cambodia’s construction and real estate sectors may have a better cause for optimism in 2022. Earlier in January, the National Bank of Cambodia (NBC) released a report on the bank sector’s macroeconomic progress and outlook for 2022.According to NBC’s report, the global economy is expected to grow at different rates, depending on how effective COVID-19 prevention measures are in different countries. At present, the omicron variant, though less severe in terms of symptoms, is noticeably more transmissible; stoking fears of lockdowns that may stifle economies once again.Despite omicron’s presence, NBC’s report highlights promise from Cambodia’s exports, namely in garments and textiles, as well as new launches in producing electronic parts and bicycles to add to the Kingdom’s export portfolio.Additionally, Japanese mall developer AEON is mulling to build a 30,000 sq meter logistics center in Sihanoukville in 2023. The gigantic center will offer import storage, customs clearance and support for cross-border online retail.Ford is investing $21 million dollars to manufacture its SUV lineup in Cambodia. Supplied.According to a report by the Khmer Times, US automaker Ford has invested $21 million in an assembly line in Cambodia for the production of the Ford Ranger and Ford Everest. The assembly line is currently under construction and will begin production in April.The report further highlights the importance of the Regional Comprehensive Economic Partnership Agreement (RCEP), an agreement between the 10 ASEAN Member States and the Free Trade Partners (Australia, New Zealand, China, South Korea and Japan) entered into force earlier this year. This will provide opportunities for trade in services and goods, investment and e-commerce.Cambodia’s construction and real estate sector is also expected to see a recovery albeit a conservative one. NBC cites a pick-up in domestic activity and investment since the economy largely reopened in the latter half of 2021. Rising domestic revenue and consequent investment will be the key drivers of the Kingdom’s property sector growth.It is worth noting that the local interest for properties has kept real estate activity going in Cambodia. Landed properties have noticeably become more popular, especially those offered in the affordable and mid-range of the market’s spectrum.In an earlier report by Realestate.com.kh, Cambodia’s largest real estate classified’s portal, a sizable section of the website’s traffic has been searching landed properties in Sen Sok and new developments Chroy Changvar - two districts that are seeing continued growth despite the pandemic. That is not to say condominiums have been completely overtaken by landed homes. According to Realestate.com.kh, the search for residential properties (condos and landed homes) in core areas of the city such as Chamkarmon and Boeung Keng Kang still topped the popular site’s searches in 2021. How regular discounts are offered and the overall decrease in average quoting prices are still driving interest from local middle-class and international buyers.Given difficulties faced in the first half of 2021, Cambodia’s growth for the previous year is only expected to be around 2%, according to the NBC as well as the WorldBank and Asia Development Bank. However, all three banking institutions project ~5% growth for Cambodia in 2022.Looking for property in Cambodia? Let us help!Article by:

Realestate.com.kh, Cambodia's largest real estate platform has partnered up with Borey Kasen Phnom Penh, a new residential development project along National Road 3.Borey Kasen is located immediately off National Road 3, just minutes from the Chaom Chau roundabout and 10 minutes from Phnom Penh International Airport. The project represents a distinct architectural style, quality construction, spacious houses and modern furnishings. The developer will also complete a commercial boulevard with shops, clubs, international schools, hospitals, and other amenities. Phase 1 itself will be handed over with a communal clubhouse. At the launch event for the project Tom O’Sullivan, CEO of Realestate.com.kh noted “National road 3 and this location in general has been waiting for a project of this quality for a long time, with infostructure in the area being recently completed the timing of this launch is perfect - there is a lot of demand for shop houses and luxury villas, in this location” The joint venture between Realestate.com.kh and Borey Kasen Phnom Penh will aid in helping Cambodian buyers find their dream home.

A rendered image of the Svay Chrum Bridge connecting Areyksach in Kandal to Metro Phnom Penh. Supplied.On January 3, 2022, South Korean Ambassador to Cambodia, Park Heung-Kyeong, joined Prime Minister Hun Sen in the groundbreaking ceremony of National Road No. 48 - a coastal road connecting Preah Sihanouk and Koh Kong.The National Road 48 was funded by the Republic of South Korea to the tune of US $78 million and is being constructed by Ilsung & Hanil Joint Venture.During the ceremony, the South Korean Ambassador revealed that the South Korean government is exploring the possibility of a bridge connecting Phnom Penh to the Areyksach area in Kandal province.The Areyksach area is located on the bank of the Mekong River in Kandal Province, east of Phnom Penh City. It is opposite Koh Pich (Diamond Island) and is a riverfront area with great development potential for its wide and flatlands. According to the urban master plan issued by the Phnom Penh Municipal Government, the Areyksach district will be under the jurisdiction of Phnom Penh in the future and is earmarked to be a satellite city with large shopping malls, modern residences, office buildings and leisure and entertainment.The South Korean government intends to build a bridge to both improve Phnom Penh’s economic outlook and strengthen the friendship between the two countries. According to a report by the Khmer Times, the technical teams carried out research on site selection and construction plans, and are considering building the friendship bridge from either Chroy Changvar or Daun Penh’s Riverside.“We are finalising the details of the bridge project. After that, we will open bids for the construction of the bridge. I think the bridge could be built in 2023,” said Sun Chanthol, Minister of Public Works and Transport.Many residents of Kandal province presently use ferries to get across the Mekong River into Phnom Penh. Building a bridge and physically connecting the population centres is expected to alleviate traffic congestion and make travel much more convenient."Bay Area Economic Circle" starting to form in Phnom PenhCross the Mekong as part of the city's expansion plans would be a landmark achievement for Phnom Penh's developers and urban planners; joining other developed cities in incorporating rivers into its metropolis. Supplied.Phnom Penh’s outward expansion has been an ongoing trend in the city's property sector. In the past few years, the capital city has seen Sen Sok develop into an urban centre with plenty of residential choices and supporting commercial areas. The district of Meanchey is similarly seeing interest since the completion of the Hun Sen Boulevard in 2018 and the construction of AEON Mall 3, soon to be the largest purpose-built shopping mall in Cambodia. The southern district is now the site of several sprawling boreys from the Kingdom’s most well-known developers.The Cambodia-South Korea Friendships Bridge, to be known as the “Svay Chrum Bridge”, opens up the potential for an eastward expansion of Phnom Penh. Chroy Changvar, one of the shortlisted sites for the upcoming bridge, has been a hotspot of borey and condominium projects in the past few years. Key developments such as Morodok Techo National Stadium and the adjacent WorldBridge Sport Village are expanding the possibilities of where Phnom Penh residents can settle down.Koh Norea Satellite City is one of the largest developments Phnom Penh is seeing to date. Supplied.On the southern end, the Chbar Ampov district is a major population centre home to almost 170,000 residents. It hosts several residential and commercial developments, as well as a new bridge connecting Koh Pich and Chbar Ampov known as the Koh Norea Bridge. The landmark development in this district, however, is the Koh Norea Satellite City, being developed by the OCIC to the tune of US $2 billion. The satellite city has reached its 30% completion milestone and stands directly opposite the Areyksach district in Kandal, only separated by the Mekong.Current development plans are pointing to an eastward expansion of the capital city. Future plans of incorporating Areyksach into Phnom Penh serve as an endpoint for what appears to be a continued pincer movement coming from the Chroy Changvar in the north and Chbar Ampov in the south. At present, the infrastructure plans mentioned above are still in different stages of development. However, based on what we have seen from Cambodia’s developers and planners, such undertakings are only a matter of time.Looking for property investments in Phnom Penh? Let us help!

While 2021 may not have been the best year for many businesses in the Kingdom, the country’s real estate sector has something to look forward to as the Ministry of Economy and Finance (MEF) recently announced that almost 4,000 projects, amounting to over $10.35 billion USD were approved in the first 11 months of 2021.Of the almost-4,000 project figure, 90% are classified as residential projects. Phnom Penh is Cambodia’s fastest-growing city and was the primary destination of the foreign property investors in the years leading up to 2019.Approved projects total around 12 million square meters comprising residential, commercial, mixed-used, and industrial projects, according to the MEF.It is worth noting that Asia-Pacific residential markets have already started heating up as buyers look to secure property at significantly more attractive prices while they still can. This trend can be seen in how Cambodia’s landed property sector is picking up steam on the back of increasing local demand for affordable and mid-range landed properties.While the MEF did not disclose total projects approved in 2020, the value was estimated at $7.75 billion USD, a 32% decrease from 2019’s figures. Given 2021’s total construction value, this signals the first step in Cambodia’s recovery - making the question of a pre-pandemic flurry another matter of when.Last November 2021, the Cambodian government relaxed travel requirements for foreigners entering the country.  This is off the back of the Kingdom’s high vaccination rates and relatively low number of cases compared to its neighbours. The relaxation of requirements similarly extended to businesses within the country, including bars, discos and KTVs.The ADB and the World Bank projects Cambodia’s economic reopening and simplified travel requirements will contribute to a ~5% GDP growth in 2022.Looking for new developments in Phnom Penh? Let us help!

The extension on Stamp Duty exemption will likely play a role in the increasing competition between landed property developers in Cambodia. Supplied.The exemption on Stamp Duty for properties under $70,000 will be extended, according to his Excellency Phan Phalla, Secretary-of-State of the Ministry of Economy and Finance. The announcement came after a press conference on the economic recovery strategy held last December 14.The Stamp Duty is a 4% tax applied on the transfer of ownership or possession of real estate in the form of a sale, gift, or share transfer.The exemption was initially implemented a year ago in December 2020 as part of the government’s strategy to encourage real estate activity at a time when Cambodia’s return to a semblance of normalcy was still unclear. The 1-year exemption period was made to last until December 2021 but has been extended to December 2023 under Prakas 22267 of the General Department of TaxationCambodia’s construction and real estate sectors have been major contributors to the Kingdom’s fast economic growth. According to a World Bank Report, construction made up one-third of the Kingdom’s GDP leading up to 2019. The Ministry of Land Management, Urban Planning and Construction reported that there were around ~4,300 projects approved, totaling $9.3 billion in 2019.The flurry of activity appears to be returning as over 4,000 projects have been approved in the first 11 months of 2021.The waiving of the Stamp Duty is a part of the government’s continued strategy to foster economic activity by reducing associated costs. In early December 2021, Prime Minister Hun Sun spoke during the inauguration of National Road 11 in the Prey Veng provincial capital and noted that the continued tax exemptions are part of revitalizing the economy after its reopening.“We do not stop at simply reopening,” said the Prime Minister. “We must continue looking out for our people and be ready to address the uncertainty that lies ahead”.Find new developments in Cambodia today

Phnom Penh: On December 25, 2021, Prince Huan Yu Center celebrated Christmas and the completion of the second building project. On the morning of Christmas day, the last part of the project to build the second building of Prince Huan Yu Center was completed. Prince Huan Yu Center held a grand celebration to thank its partners, investors and buyers.Completing a construction project is not an end point, but a new beginning. Prince Huan Yu Real Estate Co., Ltd. promises to focus more on quality assurance products with precision for future customers.Adjacent to Naga III projectThe Prince Huan Yu Center project is located in the Commercial Area (CBD) in Phnom Penh's Chamkarmon district.Not only that, the project is located near the central business area in Boeung Keng Kang 1, around the embassies of 31 countries, such as the Russian Embassy, ​​the Australian Embassy, ​​the South Korean Embassy and the Embassy of Japan. The project is located near major institutions such as the Ministry of Agriculture, the Senate, the Ministry of Interior, the National Assembly and the Ministry of Foreign AffairsIn addition to government institutions, there are many shopping malls and entertainment places such as, Aeon Mall 1, Koh Pich, Riverside, Independence Monument and many other tourist hotspots.High rental rate from 8% to 10%The Prince Huan Yu Center is meticulously constructed with the concept of "luxury living", a world-class 140,000-square-meter multi-storey city ranging from 40-82 square meters of the 5.4 metres storey LOFT - an offering unique across Phnom Penh.“Buy one floor, get two floors” Prince Huan Yu Center offers 31-105 square meters of platinum condos to be built as you desire and even designed to accommodate first-class brands. They come fully equipped, accessible, and more than adequate to meet the different needs of outstanding business people.Prince Huan Yu’s ideal location, supported by a unique and exquisite offering of daily life grants it the potential to have a rental yield of 8% to 10% annually. Given all that makes it popular, Prince Huan Yu’s residential property owners are expected to gain a 15% appreciation on their home investment, on top of an expected high rental yield. There is little-to-no competition in Prince Huan Yu’s status as a much sought-after property in Southeast Asia.Prince Huan Yu Center will complement its residential offerings with 30,000 square meters of commercial space. This will become the first modern art mall in Phnom Penh: the Prince Mall (Phnom Penh). With its flexible architecture and integrated business mix, it will create an international business environment to meet the needs of urban dwellers, high-level executives, business people and the growing middle-class of Phnom Penh - creating a space where many can find something to call home.Building to make a beautiful CambodiaPrince Huan Yu Real Estate Group is a subsidiary of Prince Holding Group. Prince Holding Group is a diversified international investment firm based in Cambodia with a portfolio of businesses around the world. The business scope covers real estate development, commercial real estate operations, high-end hotels, banking and many other capital-intensive sectors and a broad development perspective.As a real estate subsidiary of Prince Holding Group, Prince Real Estate Group adheres to the development concept of "Building a Beautiful Cambodia", laying the foundation for Cambodia, using Phnom Penh and Sihanoukville as strategic bases. With the project of Prince Mall, Samrong Village, Prince Golden Peacock and many other city-leading projects, it has become a leading enterprise in the field of real estate development in Cambodia. In the future, the affiliate will continue to strive to create more and better high-end housing products for home customers and contribute to Cambodia's urban development.Learn more about Prince Huan Yu Center

Group Life Insurance is a type of insurance policy generally offered by employers and organizations to provide life insurance coverage to its employees or members. These days, Group Life Insurance plans have become the standard and preferred form of life insurance protection for many employers and organizations alike. It provides simple financial security and independence to the loved ones of the employee in the event of his/her death or total disability. Depending on the insurer and the plan chosen, other benefits such as critical illness and medical benefits could be attached to the basic plan to provide comprehensive protection. If you are an employer or organization and currently do not offer Group Life Insurance coverage, it should be a part of your complete benefit package to attract and retain talent and to ensure financial protection for your employees.Benefits of Group Life InsuranceEmployers/OrganizationsAffordable PremiumsGenerally, Group Life Insurance is more affordable than individual life policies for a similar amount of coverage as the risk is spread across a greater number of people. Attractive IncentiveAs part of a complete benefit package, it is something that will attract and retain talent as it gives employees a sense of security and a peace of mind which will lead to increased productivity and loyalty. Simple Payment ProcessPremium payments are generally due annually except when there are movements of employees, then additional/refund of premium will be due at that time. Tax-Free BenefitIn Cambodia, if the same coverage is provided to all employees regardless of employment or job classification, the insurance premiums shall not be subject to fringe benefit tax of 20%.Employees/MembersFree or Low-Cost BenefitGroup Life Insurance is usually an incentive provided by employers and organizations as part of a complete benefit package that is typically free of charge to the employee. Customizable PlanEmployees may choose to opt-in for additional or higher coverage in addition to the standard plan provided by the employer or organization. Depending on insurer and plan chosen, spouse and children can also be added to the policy.Free Cover Limit Most Group Life Insurance policies typically include a Free Cover Limit where underwriting is not required if the coverage is below the Free Cover Limit. This leads to a more simplified process and is a reason why it is generally easier to become protected under a group plan.Tax-Free BenefitThe insurance benefit received by the insured or beneficiary as the case may be is tax-free and also leads to a simplified claim process. EligibilityThe acceptance of coverage and the insurance premium amount will depend on a variety of factors including the age, gender, coverage amount, occupation class and health condition of the employee. In addition, as a requirement from the insurer, there will be a minimum number of members required in order to qualify for group coverage. Employers and organizations may also have requirements before allowing employees to participate in the Group Life Insurance plan such as passing a probationary period before being granted coverage. Either way, when searching for a group policy, thoroughly research and compare all of your options to ensure you are getting the best life insurance policy possible.If you are interested in Group Life Insurance and would like to learn more about it, please contact us today!Inquire about Group Insurance today!

Realestate.com.kh, The Ministry of Economy and Finance, and Cambodian Valuers & Estate Agents Association proudly present the Cambodia Real Estate Awards 2021-’22. The event, to be held in March of 2022, will honor the year's most exceptional real estate developments and successful initiatives. The awards will be available for all types of real estate agencies, including residential, commercial, or developments, and land developers who show their properties nationwide.For the first time in history, the Cambodia Real Estate Awards have added various categories for property developers. These categories include Developer of the Year, Condominium Developer of the Year, Borey (Landed Property) Developer of the Year, Commercial Developer of the Year, and CSR & Social Impact Developer of the Year.The Cambodia Real Estate Awards is regarded as the premier national award for excellence within the real estate industry. The goal of the night is to recognize and honor this year’s outstanding projects and developments that have elevated the fabric of Cambodian real estate. It aims to recognize the achievements of the industry objectively and without bias, which grants all firms and individuals an opportunity to participate regardless of the size or wealth of their operation.Industry experts and leaders are responsible for identifying the top three winners across all categories. These judges will select an overall winner based on exponential business growth, along with overall significant development and success.Grand prize winners receive:a gorgeously designed trophy that boasts magnificent designs inspired by Cambodian cultural architecture. the prestigious Cambodia Real Estate Awards seal which can be used for their future ventures in marketing after the event a framed certificate confirming their achievement will be bestowed upon them. Mentioning that you have won this award on your realestate.com.kh profile will assist in gaining the trust of future potential clients.The judging process will be monitored with diligence by established auditing firms to ensure the integrity of the award. Judges will be required to submit their credentials for an evaluation of independence from related corporations. The judges will adhere to a code of professional conduct outlined by the organizations.Entries for the Cambodia Real Estate Awards are now officially open! 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.Enter the Cambodia Real Estate Awards 2021-2022Key ContactsDevelopers & Development Awards Entry ContactsEnglish & 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) 81 305 205 Chinese: Name: Taing Muyngy (Muyngy) Position: CREA Agent Entry Facilitator & REAKH Relationship Manager Email: muyngy.taing@realestate.com.khPhone: +855 (0) 10723379 Cambodia Real Estate Awards - Sponsorship Contacts Name: Jeff Steeves Position: Business Development ManagerEmail: jeff.steeves@realestate.com.kh Phone: +855 (0) 85 250 962Enter the Cambodia Real Estate Awards 2021-2022

Observers project a ~5% GDP growth for Cambodia in 2022. Photo from Khmer Times.Knight Frank, a global real estate consultancy firm, recently came out with their Asia-Pacific Outlook Report 2022 and shared their outlook on shifts and trends likely to come out of COVID-19.Residential market heats up, affected by work-from-homeMuch like in Cambodia, the rest of the region shares affordability concerns. However, Knight Frank’s report notes that fear of missing out continues to drive mainstream prices up. Out of the 24 cities in Asia Pacific tracked, 18 saw prices grow, half of which recorded double-digit increases since the start of the pandemic.The report adds that construction delays across APAC resulted in record-low interest rates and lack of available supply, sustaining a bull run of prices across the region. Knight Frank projects residential prices across the region grow approximately 3-5% in 2022.Knight Frank included findings from their Global Buyer Survey 2021 and highlighted the importance of work-from-home, health and well-being as top factors for residential buyers in the region.When it comes to property features, APAC respondents put Access to High-Speed Broadband on top of their list, followed by Home Study/Office and Availability of Outdoor Space. Similarly, in terms of location, surveyed respondents put Air Quality on top, followed by Proximity to Green Spaces and Access to Healthcare Facilities.“Residential markets across the Asia-Pacific region could continue to strengthen in 2022 as the region starts to recover in the endemic phase. With more quarantine-free travel lanes reopening, foreign buyers could return to key gateway markets sooner than expected. Now is the best time for domestic buyers to pick up their dream homes in view of the potential policy interventions that could hamper purchasing prospects in 2022.” said Victoria Garret, Head of Residential, Knight Frank Asia-Pacific.Tech firms to drive office leasing sectorKnight Frank’s APAC report cites the tech sector as the pillar of office space leasing in a time of work-from-home. The report explains that the period of restricted movement and social isolation has only increased the demand for more digital services and integrations.The report concedes that although the level of new supply remains manageable across the region, vacancies are still expected to rise from the current 13-14% to 14-16%. Knight Frank expects tech companies to continue driving leasing activity in the meantime.With much of the region swinging towards a tenants’ market - including office spaces in Phnom Penh - the report advises current occupiers to capitalize on the current window to secure better lease terms or re-evaluate requirements in supply heavy markets before the recovery gains further traction.What does this mean for Cambodia?Realestate.com.kh reached out to Ross Wheble, Country Head of Knight Frank Cambodia, to contextualize regional trends in the Kingdom. “For the residential sector, we will see a two-tiered market with landed housing continuing to outperform the condominium sector, which is expected to see minimal price growth in 2022,” he said. Despite the shift in landscape, foreign investors are still considering Cambodia as an investment destination.“We generally see three key factors that attract investors to Cambodia: the ease of ownership for foreign investors, being able to own freehold title; the dollarised economy which makes it attractive as a currency hedge; the expected capital appreciation over the medium term as a developing frontier market with one of the fastest-growing economies in the world,” explained Ross.Cambodia’s office spaces have similarly seen growth in the past few years. “Current supply stands at approximately 573,472 sq m with an average occupancy rate of 72%,” said Ross “However, supply will more than double over the next four years placing pressure on both occupancy and rents.”He reveals that occupancy for office spaces in Cambodia is driven by the FIREB sector (Finance, Insurance, Real Estate and Business Services). “But we are also seeing more demand from Fintech and other tech companies,” he noted.On the topic of hybrid workspaces, Ross says, “Whilst some companies will adopt a hybrid workplace strategy the challenges of multi-generational living, as well as Cambodia's IT infrastructure, will likely see most companies resuming full office-based working.”Knight Frank’s Asia-Pacific Outlook Report 2022 forecasts Cambodia’s GDP to grow by ~5% in 2022. The ADB and the World Bank projects similar growth given Cambodia’s economic reopening through simplified travel requirements and its highly vaccinated population.Looking for property investments in Cambodia? Let us help!Article by:

Lawrence Lennon, MRICS, is the new Managing Director of CBRE Cambodia and will tackle alternative segments coming into 2022. Photo from CBRE Cambodia.Phnom Penh, Cambodia - CBRE appointed Lawrence Lennon as its new Managing Director. He will be taking over the position from James Hodge, having been in CBRE’s Cambodia office since 2016. James Hodge is reportedly returning to the United Kingdom early next yearLawrence is a member of the Royal Institution of Chartered Surveyors (RICS) and has worked in real estate investments in the United Kingdom, Mongolia, Myanmar and Vietnam. Lawrence Lennon joined CBRE in 2021 as its Associate Director overseeing its Professional Service Teams and leading major consultancy and valuation projects for both Cambodian and international organisations.In a press conference last December 9, Lennon thanked Mr. Hodge for the work he has done over the years and will continue to improve and expand CBRE’s services coming into 2022.Kinkesa Kim, known for leading CBRE's Research and Consultancy, was recently appointed as one of its new Associate Directors. Photo from CBRE Cambodia.In addition, Kinkesa Kim, previously one of the firm’s Senior Managers, has been appointed as its new Associate Director for Research and Consultancy. Kinkesa has an extensive background in market research and the provision of valuable consulting advice developed from her years of working within the Kingdom’s growing market.CBRE’s Lawrence Lennon, in a press release, highlighted that he is already working on tackling alternative segments in 2022. As its new Managing Director, Lennon is taking a look at manufacturing, agriculture, logistics, e-commerce, fintech, and energy.Lennon sees manufacturing as a center point of Cambodia’s development. “The opportunity in Cambodia’s manufacturing stems from it being able to leapfrog thanks to modern technology being readily available.” He notes that further infrastructure development and crafting practical policy frameworks will be vital in realizing Cambodia’s potential.He adds, “We are looking forward to seeing how the market can make further improvements in areas such as urban planning and ESG (Environmental, Social, & Governance) practices - both becoming important points of discussion as the country continues to rapidly urbanise,” said Lennon.Part of his plans also highlights increasing regional connectivity with CBRE’s neighbouring counterparts to leverage their expertise and resources to provide better advice and services to their clients.“I am very proud to take on this role at a turning point in the country’s progress in the pandemic. Despite the short-term challenges, we at CBRE are cautiously optimistic, and look forward to helping our clients navigate a rapidly developing market,” said Lawrence Lennon, Managing Director of CBRE Cambodia.Looking for property investments in Cambodia? Let us help!Article by:

Need a quick run-through of the most popular projects in Cambodia today?Realestate.com.kh, the country’s largest real estate classifieds portal, is visited by several hundred thousand users every month all searching for condominiums, shophouses, linked houses, and villas for sale/rent in Cambodia.New developments, in particular, are a key interest among local and international buyers. To help get you started, we’ve listed the most-visited projects on Realestate.com.kh this month!Phnom Penh Galaxy GardenLocated in the fast-urbanizing location of Sen Sok, Phnom Penh, this development offers a mid-range investment opportunity to local and international investors.Phnom Penh Galaxy Garden offers urban amenities such as; skyline views of Phnom Penh City, sky deck & glass skywalk, swimming pool, fitness center, spacious parking lots, 24-hour security services, lobby services, and housekeeping.Developed by the well-experienced, Shanghai-based JINGDI group, this world-class development is a stone's throw away from AEON MALL 2, Cambodia’s largest shopping center, and around the corner from MAKRO Supermarket.Learn more about Phnom Penh Galaxy GardenWorldBridge Sport VillageWorldBridge Sport Village is set to be Cambodia’s first-ever all-in-one sporting and residential development. Located in the fast-growing area of Chroy Changvar, and just 20 minutes away from the Central Business District of Phnom Penh, WorldBridge Sport Village is filling a gap in the market that nobody knew was there!Chroy Changvar is a hotbed of property developments, ranging from high-rise condos in the south to sprawling Borey developments towards the north. As a developing outer district of Phnom Penh, Chroy Changvar has been receiving a lot of interest from the growing suburban living trend in Cambodia. WorldBridge Sport Village is full of potential and offers great investment opportunities to small business owners and retail outlets alike.Learn more about WorldBridge Sport VillagePARC 21 ResidencePARC 21 Residence is a Singaporean-led project that has been a popular residential and investment choice for both Cambodian and foreign investors. Due to its prime location and amenities, Parc 21 Residence is expected to yield high rental returns with minimum risk.It’s also worth noting that this development has been constructed in an area that is earmarked for massive urbanization and development in the next 10 years, and it’s not hard to see why! Surrounding areas include attractions such as AEON Mall 1 and the Russian market, while still being close to central districts like 7 Makara, BKK1, and Daun Penh.Learn more about PARC 21 ResidenceM ResidenceM Residence is a new addition to Realestate.com.kh’s list of most visited projects!Located in BKK1, it’s quite hard to miss why this project can get traction in so little time. Its location allows it easy access to all the things that make BKK1 popular with its wide selection of shops, restaurants, bars, cafes, schools, office buildings, and everything in between.M Residence’s units also offer an ideal residence, whether long or short, for those looking to stay in Phnom Penh’s most culturally diverse district. M Residence mirrors its surroundings by delivering a complete living experience with its neatly decorated design and facilities such as a gym and swimming pool.Learn more about M ResidenceLe Condé BKK1Cities are the perfect testing ground for new residential technology and Cambodia definitely has its fair share. Le Condé BKK1 leads the pack as the premier choice for smart living and matches that with green space all within its spacious halls.Le Condé BKK1 is located in the district’s south-central area surrounded by a myriad of shops, cafes and restaurants that make this area popular among expatriates and the local middle-upper class.Le Condé BKK1 provides many classy amenities and facility services to support the tranquility and quality living of the resident including a spacious lobby, an infinite swimming pool, a spectacular view of Phnom Penh Skyline, a sky bar, a gymnastic room, a yoga room, conference rooms on the 32nd floor, a reading space, a jogging track, a spacious sky garden, concierge services, room services, and parking lots.Learn more about Le Condé BKK1

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: