Sihanoukville continues its construction boom even after the departure of online casinos in late 2019. Supplied. Sihanoukville was once a city that drove both local and international headlines. Considered the next hot property investment destination, Sihanoukville blew up as a prime residential, commercial, retail, and up until 2019, gambling hub in Southeast Asia. The city was the microcosm of Cambodia’s rapid development in the past decade. Boomtowns, like Sihanoukville, are cities experiencing a fast pace of growth but often have limited infrastructure to support them. Photo from the Southeast Asia Globe. Sihanoukville, a once-sleepy beach town on the southern coast of Cambodia, became a boomtown in light of Cambodia’s fast-paced real estate growth and the rise of online gambling operations in Southeast Asia. The latter was a key driver to the city’s growth as droves of operators flocked to the city to take advantage of gambling licenses allowing operations to be set up legally. Online casinos geared towards the Chinese market were the most prevalent in the city attracting many Chinese nationals to move and work in the city. The influx of a new market with higher budgets drove Sihanoukville’s property markets to skyrocket in a matter of months. According to the Khmer Times, the government granted over 160 gambling licenses to operators across the country in mid-2019. Photo from Bloomberg/Getty Images. The city’s boom would soon meet its first slow down as in August 2019, the government decreed that it would no longer accept and renew online gambling licenses. The news rippled throughout Cambodia forcing online casino operators to move out of Sihanoukville and other gambling towns like Poipet (bordering Thailand) and Bavet (bordering Vietnam). According to government numbers, over 100,000 foreign nationals left the Kingdom by early 2020. The exodus of online casinos from Sihanoukville would not be the end of its struggles. As Cambodia ushered in 2020, the outbreak of COVID-19 soon reached the Kingdom with the first positive case of a resident of Sihanoukville province. The already dwindling numbers of international travelers further hurt Sihanoukville’s economy transitioning back to a beach resort/ecotourism for local and international visitors. The COVID-19 outbreak was a blow to the city that put it on its economic knees. Despite the bygone days of gambling, Sihanoukville still had aces up its sleeve. Sihanoukville’s new look in 2021 Photo from Discover ASEAN Facebook. Historically, major port towns throughout history have developed the fastest with some progressing to become the capital cities like Bangkok, Manila, Tokyo, and Singapore. Sihanoukville may not be Cambodia's capital, but it may as well be the queen city of the south as it hosts Cambodia’s only major deep-sea port managed by the Sihanoukville Autonomous Port (PAS). This allows the city to be the gateway of international brands to Cambodia’s growing consumer market. Photo from Discover ASEAN Facebook. As a province, Sihanoukville is home to many Special Economic Zones (SEZs) providing much-needed employment and skills to the area. Sihanoukville also has the Sihanoukville International Airport (KOS) which delivers tourists directly to beaches that have seen many renovations after the departure of online casinos and the lull in international travel. Photo from Discover ASEAN Facebook. The hurdles the Sihanoukville experienced in the past 2 years may have slowed its progress but it has not put it to a halt. On the contrary, it has even allowed for big luxury developments like Morakot Island (Koh Puos) to establish itself as a private island getaway offering large villas in the city. Sihanoukville, on the grander scheme of things, has been afforded the breathing space it needed to quietly transition into an area that capitalizes on its manufacturing hubs, skilled labor, natural resources, and access to the wider international market. Interested in properties in this major coastal town? Check out our property listings in Sihanoukville. Article by:

Phnom Penh, Cambodia - Parc 21 Residence appointed Realestate.com.kh, the largest property classifieds portal in Cambodia, as the exclusive marketing partner for the 132-unit condominium project located in Chamkarmon, Phnom Penh. Parc 21 Residence has also chosen Fazwaz Cambodia as its exclusive real estate agency for the development. Earlier in 2021, Realestate.com.kh & Fazwaz Cambodia announced an MOU in a massive boost for agencies and property developers in Cambodia. Pearl Yu, Senior Sales Manager at Parc 21, noted, “We launched Parc21 in May 2020 in line with the booming tourism market and growing Cambodian middle class. Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations”“Early sales were extremely promising, but of course, no one could predict COVID-19 and the prolonged effects on real estate markets. As a response to the slowdown, we decided to focus less on sales and marketing of the project and focus our efforts and resources on continuing Parc 21’s construction. We can proudly say that today we were only delayed a month due to the pandemic and we are on track to hand over units in mid-2022”“Considering we are handing over in 2022, we reached out to Realestate.com.kh to help supercharge our marketing again, we worked with them when we launched and joined the online sales event in June 2020 where we successfully sold one of our Penthouse units, most impressively Fazwaz Cambodia has closed more than $4 million in condo sales in Q1 2021, during one of the toughest periods to sell units, we were very attracted to both Realestate.com.kh and Fazwaz ability to attract high net worth local buyers and international investors” Tom O’Sullivan, CEO of Realestate.com.kh said, “Realestate.com.kh has been at the forefront of real estate marketing in Cambodia since 2009, we are well versed in where to focus marketing spend to get the best quality leads for developers, separately we also work with all of the real estate agencies in Cambodia so its very efficient for developers to work with Realestate.com.kh to distribute their offers, promotions and marketing material to every agent in Cambodia. Realestate.com.kh, as a marketing platform, is supplemented  by Fazwaz’s strong sales team and strategy and plays a major role in the end-to-end sales and marketing process for Parc21” James Whitehead, CEO of Fazwaz Cambodia said, “We have had the opportunity to work exclusively with multiple developers but we wanted to make sure it was the right project to bring to the market as our first exclusive project in Cambodia, despite Parc 21 scaling down sales and marketing efforts in 2020 they still charged ahead with the construction of the project and handing over next year - this gives us (Fazwaz & Realestate.com.kh) and buyers great confidence to really get behind this project“About Parc 21 ResidenceParc 21 is a residential property development located in Boeung Trabek, Chamkarmon district in the capital Phnom Penh, Cambodia. Parc 21 is developed by JV Parc Residence Co., Ltd, a joint venture between investors from Singapore and Hong Kong.Parc 21 Residence is located in the cosmopolitan district of Chamarkmon. The project is made up of 21 floors with 132 residential units each with a balcony. Parc 21 also boasts several amenities including a swimming pool, jacuzzi, gym/fitness center, and office area to complement its modern residential comforts.Parc 21’s location is an area popular among locals and tourists for its many shops, restaurants, pubs, and cafes. It is a key development strategically located in the south-central area of Phnom Penh with high rates of growth and convenient access to other areas of the city such as Daun Penh, Boeung Keng Kang, 7 Makara, and Meanchey districts.About Realestate.com.kh Realestate.com.kh, established in 2009, is home to over 20,000 live property listings making it the largest real estate classifieds portal in Cambodia. Realestate.com.kh works with the leading real estate agencies and property developers in the Kingdom to meet the demands of both local and international property seekers and endeavours to further develop the larger Cambodian property market as the most attractive real estate investment hub in Southeast Asia.Aside from being a popular online platform, Realestate.com.kh also organized several popular offline events since 2018 that connected real estate agents, property developers, investors, and home seekers with the best deals available on the market.About Fazwaz CambodiaEstablished in 2020 in Cambodia, FazWaz KH is the first tech-enabled real estate brokerage in the Kingdom. FazWaz Cambodia represents a new way of doing real estate by giving anyone the opportunity to make money in the country’s growing real estate market and provide the best service and safest possible investment to property seekers and investors in the country. Contact Information:Tom O’SullivanRealestate.com.kh, CEOtom.osullivan@realestate.com.kh James WhiteheadFazWaz Cambodia, CEOjames@fazwaz-kh.com

Morakot Island (Koh Puos), a scenic Cambodian island off the coast of Sihanoukville city, just a few short years ago, the wild and beautiful gulf coast serving as an exotic destination attracting adventurous vacationers, sport fishermen, and scuba divers from around the world. Today the area is destined to become the new “gold coast” location of Southeast Asia. Morakot Island is a unique, master-planned, luxury residential and resort community, located on one of the most beautiful islands of Cambodia. The island is peacefully removed from the noise and congestion of everyday life, just a few minutes away over the 950m Techo Morakot road bridge from Sihanoukville, the third-largest Cambodian city known for its fast development and innovative business environment. Morakot Island’s natural beauty and welcoming culture attract locals, international visitors, and investors, who sense the near-future opportunity of the region. Morakot Island is strategically located in one of the most exclusive property developments in the Kingdom of Wonder making it private heaven where an incredible experience awaits. It serves well as a residence for those who have plans for this commercial-heavy area, all while providing comfortable living and distance afforded by an island.Morakot Island has an exclusive Villa Collection of 36 sea-front residential lots for its residents. These stylish villas come in 5 different types (Orchid, Lotus, Plumeria, Magnolia, Jasmine). Ranging in sizes up to 565sqm, all are designed with the best in comfort, aesthetics, and functionality in mind. Designed with classical Khmer style architecture, villas are fully equipped with modern interior design, top-notched materials, and amenities that allow residents to enjoy a luxury private lifestyle in the tropical paradise. Get the full experience of living in your own island heaven by waking up to breathtaking sea views that face every villa. Each villa features high ceilings, full-length windows, and doors that open out onto the balconies, taking advantage of the fresh sea breeze and natural light that fills each villa’s generous spaces.All amenities that come with resort living are combined with the comforts of home, made to the highest international standards. Residents will be able to choose from among the many beautiful apartments, bungalows, and villas complemented by a peace of mind afforded by the latest in security technology rolled into each home. Overlooking Instagram-worthy views are the island’s numerous recreational centers complemented by beautiful natural features only found on island properties! For the health-conscious, the island will soon be equipped with a luxury spa and wellness center. They all contribute to making Morakot Island its own self-contained paradise, providing residents with a lifestyle of exclusivity and comfort unmatched by many.Morakot Island would also provide robust transportation options for its residents. Where one can live comfortably, one should also be able to travel swiftly and securely wherever, whenever possible. This is why the island is only 26km away from the Sihanoukville International Airport (which offers direct flights to China, Singapore, Malaysia, Macao, and Thailand, to name a few). Additionally, the Phnom Penh-Sihanoukville National Highway #4, to be completed in 2022, is bound to drastically cut the 232km distance from the capital of Phnom Penh and provide a quick link to residents who want a quick way to the capital and back to the privacy of their island home.The Koh Puos (Cambodia) Investment Group, Ltd. (KPIG), Morakot Island’s developer, envisions the area to become a multi-purpose destination that provides visitors and residents alike only the finest the world can offer. It is to be a venue where the luxuries of an island vacation meet with the comforts of a home residence to create a premium luxury lifestyle.

The Online Flash Sale has officially started with the discount reveals on 15 new developments and dozens of resale properties including condos, shophouses, and land properties all across Cambodia.That’s a lot of properties with great deals to consider! So, Realestate.com.kh is making it easier for you to get started on your home search:Stardream Lake Tourism TownFinal Price: $25,200 (discounted from $36,000)Location: Botum Sakor, Koh KongDeveloper: Coastal City Development Group Co. Ltd.,The Stardream Lake Tourism Town’s expansive land area allows it the space to create a small business center within its vicinity. This project, the biggest to come to the area yet, will soon propel the Koh Kong province as a new investment hotspot in Cambodia, and perhaps even South East Asia.Project highlights:Premium land plots available for both local and international ownership with long-term leaseholdThe whole project is close to the sea and features 2 landscape lakes surrounded by an ecological parkSpacious residential areas supported by a central commercial area to provide for residentsStrategic location in Cambodia's increasing participation in global trade, transportation, and tourismAngkor Grace Residence & Wellness ResortFinal Price: $138,840 (discounted from $178,000)Location: Svay Dankum, Siem ReapDeveloper: Angkor Hearta Development., Co Ltd,Angkor Grace Residence & Wellness Resort is a resort getaway that puts an emphasis on providing the utmost comfort to visitors through its fully-fitted 60 residential units available for a unique investment opportunity.Property highlights:The first condo-resort in Siem ReapThe premier green-focus project in Siem ReapQuality residences by one of Cambodia's reputable companiesPremium amenities to provide a serene and memorable stay75% Guaranteed Rental Returns over 10 yearsVue AstonDiscount: $67,900 (discounted from $78,124)Location: Nirouth, Chbar AmpovDeveloper: The Peninsula Capital Co., LtdThe Vue Aston is a 38-storey luxury waterfront project with residences putting an emphasis on providing comforts similar to what can be found in city centres. It is the most sophisticated upcoming development in Chbar Ampov having only started groundwork in 2020.Property highlights:Prime location in Nirouth, Chbar AmpovSurrounded by OCIC's upcoming Nirouth Satellite CityNear the upcoming Koh Pich-Koh Norea BridgeFull-featured in-house amenities: executive lounge, banquet hall, gym & sauna, infinity pool, and children's playroom (just to name a few!)High-quality residential units with full panoramic views of Phnom Penh's mighty rivers35% Guaranteed Rental Returns over 5 yearsThe Online Flash Sale features a dozen other new developments along with many resale properties across Cambodia. If you haven't registered for the event yet, it's not too late. Free sign up here.

According to a public post by the official Facebook page of the Ministry of Public Works and Transport, the project to build the Phnom Penh-Sihanoukville Expressway has achieved 51.35% completion. The expressway has a total length of more than 190 kilometers connecting Village 1, Sangkat Samrong Krom, Khan Por Senchey, Phnom Penh to Village 1, Sangkat No. 3 Sihanoukville. The project is estimated to finish by May 31, 2023.The expressway project is one of several large-scale infrastructure development projects that are undergoing construction as planned, despite Cambodia still reeling from the impact of COVID-19.It should be noted that the construction of Phnom Penh-Sihanoukville Expressway through Phnom Penh 8.30 km, Kandal 9.10 km, Kampong Speu 80.80 km, Koh Kong 1.92 km, and Sihanoukville 89, 89 km, with a total construction cost of about 2 billion US dollars, invested by the China Bridge and Road Corporation (CRBC) through Cambodian PPSHV Expressway Co., Ltd.The traffic lane for vehicles is 15 meters wide, divided into 4 lanes (2 lanes for each way), the lanes measure 3.75 meters wide, allowing all types of vehicles to drive at speeds of up to 100 km per hour and some places Can reach 120 kilometers per hour. The project includes the construction of seven diversion roads, 28 intersections, 237 underpasses, 20 expressways, and 20 flyovers.Construction of 3 service areas or parking lots, 1 parking lot, 4 road operation and maintenance centers, and 9 toll booths, and all equipped with road equipment, including traffic signs, traffic lights, and signs.Once the expressway project is completed, it is expected to save a lot of travel time, which will be facilitated by cost savings and accelerate the economy as well as tourism activities.

The day we’ve all been waiting for is here: The Online Flash Sale is starting NOW!The Online Flash Sale is featuring 15 new developments and dozens of resale properties offering time-exclusive discounts from June 3 (Thursday) to 6 (Sunday). Don’t miss this chance to own your dream home at a BETTER PRICE!How to get your discount:Sign up for the Online Flash SaleVisit the Online Flash Sale website on June 3 to 6Select among the discounted propertiesSecure your discount with a refundable $200 reservation fee**The fully refundable $200 reservation fee is also deductible from the final sale price.*Payment methods accepted: Visa, Mastercard, UnionPay, and ABA Payway.Don't miss this chance to get a discount on your dream home - only during the Online Flash Sale!

VTrust Express Co., Ltd., a real estate appraisal company in Cambodia, recently signed a memorandum of understanding with the Credit Bureau Cambodia (CBC) to integrate digital real estate appraisal services.The joint venture between the two companies will create a real estate appraisal service called Indication Plus. Indication Plus will allow clients or partners with real estate appraisal needs to find and request access to CBC's credit history management platform.According to Mr. Vong Sokhal, Chairman of the Board of Directors of VTrust Express, Indication Plus is a modern and accurate real estate appraisal service that can analyze and issue preliminary real estate appraisal reports fully and automatically. This digital appraisal service is formulated by Real estate professionals using international real estate appraisal standards. Indication Plus This allows users to use it wherever they are.Oeur Sothearoth, CEO of CBC, pointed out that about 50% of the loans given to borrowers in the market are secured by the property being applied for, so, finding out the value of the property is very important in assessing the credit. He also strongly believes that the cooperation between the two companies will bring high efficiency to the financial sector.

(Phnom Penh): What customers have been waiting for a long time has arrived, Tulip Shop House is launching a new block from today with more profitable payments, just pay starting from 1% Of house price with no interest and no deposit required.This type of shophouse is located right next to the main gate of the project itself, along 105K road, with house size (4.5m x 18m) and land size (4.5m x 22m) and up to 3 floors and is the best location for Customers doing other business.Please also note that the Orkidē The Pochentong project is not only has a shophouse but also has a single villa (Marigold) and twin villas (Sunflower), which are all modern homes for modern people. Especially, customers can choose the monthly payment option starting from 1% of the house price with no deposit and no interest and can get up to 10% discount.Please be hurry up, this rare offer has a limited time! Please visit our Sale Gallery of Orkidē The Pochentong Project, which is located along 105K Road near Wat Tangkasang (on the railway line in front of Pochentong Airport), Sangkat Phnom Penh Thmey, Khan Sen Sok, Phnom Penh, or contact by phone: 098 733 333.

ARE YOU READY? The Online Flash Sale is fast approaching which means you can purchase your dream home or next investment at a much better deal!How to get your discount:Register for the Online Flash Sale now!Visit the event website on June 3 to 6Select the discounted propertySecure your discount with a refundable $200 reservation feeThe fully refundable $200 reservation fee is also deductible from the final sale price.Don't miss this chance to get a discount on your dream home next week - only during the Online Flash Sale!Participating developments in the Online Flash SaleStardream Lake Tourism TownDiscount: To be revealed on June 3 to 6Location: Botum Sakor, Koh KongDeveloper: Coastal City Development Group Co. Ltd.,The development of Stardream Lake Tourism Town covers an area of 248 hectares of land which is planned to include an ecological park and two lakes in the future. The project will be built after the completion of its green spaces, natural ecology, and pristine beaches to lay the foundations of an entrepreneurial community and leisure tourism.Angkor Grace Residence & Wellness ResortDiscount: To be revealed on June 3 to 6Location: Svay Dankum, Siem ReapDeveloper: Angkor Hearta Development., Co Ltd,Despite only being a few minutes away from the busy center of Siem Reap, Angkor Grace Residence & Wellness Resort still affords residents the luxury of verdant landscapes rarely found in modern large-scale properties. The entire project measures 22,670 sqm largely composed of pristine greenery, the influence of which is seen in the residential units.Vue AstonDiscount: To be revealed on June 3 to 6Location: Nirouth, Chbar AmpovDeveloper: The Peninsula Capital Co., LtdVue Aston is a newly launched condominium development in 2020. The development is located along the riverside in Norea Island which is a new residential development area. The development of a new bridge is scheduled to take place in the area and will serve as new access to Downtown Phnom Penh. This accessibility of this development is expected to attract greater traffic flow and land-rise which will drive the area to be the next potential development zone.Le Condé BKK1Discount: To be revealed on June 3 to 6Location: St. 352, BKK 1Developer: Wang Fu Guo Ji Property Development Co., LtdThe development is located in a prime location which provides significant advantages as a residential, commercial, and business hub with multinational enterprises, schools, international organizations, and luxurious restaurants. And with the inspiration of the scenic rural fields of Southeast Asia and the greatest Cambodian architectural pioneer, Van Molyvann, LE CONDÉ BKK1 is designed to be the mild luxury and life of wisdom and a balance between pursuit and humility.The Peninsula Private ResidencesDiscount: To be revealed on June 3 to 6Location: Chroy ChangvarDeveloper: CC Peninsula Co., Ltd.The Peninsula Private Residences is the finest residential development and home investment asset in Cambodia. The new development offers high investment opportunities, privacy, security, comfort, and a luxury lifestyle. This 25-storey condominium is situated in Chroy Changva District, a new residential development zone to the East of downtown Phnom Penh crossing the Mekong River.Ratana Plaza Top ApartmentDiscount: To be revealed on June 3 to 6Location: Tuek Thla, Sen SokDeveloper: Real Livest Ones (Cambodia) Co., LtdRatana Plaza Top Apartment is located in Ratana Plaza, a popular place where gather in Phnom Penh, close to the main road, North Bridge Road (Phnom Penh Second Ring Road). The project was developed as a high-quality small residence with offerings of unit spaces ranging from 26-45 square meters. The Ratana Plaza is a hot-rental property in Cambodia, suitable for low threshold investment, and is the best choice for any local and international investment.Morgan Park VillaDiscount: To be revealed on June 3 to 6Location: Bak Kaeng, Chroy ChangvarDeveloper: Morgan Jovan (Cambodia) Real Estate Development Co., Ltd.Morgan Park Villa is the first high-end villa community with separated footways and motorways in Phnom Penh. It adheres to the internationally recognized LOHAS green and eco-friendly living philosophy and features an incomparably rare eco-friendly garden-style environment with non-replicable investment potential. Its supreme living quality can meet the needs of elites and international investors in Phnom Penh. MORGAN PARK VILLA the new benchmark and game-changer of living in Phnom Penh!Morgan EnMaisonDiscount: To be revealed on June 3 to 6Location: Tonle Mekong, Chroy ChangvarDeveloper: Cam-Jiachuang Real Estate Co., Ltd.Morgan EnMaison, located along the 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. What’s more, the multi-level luxury sky club will give a unique appeal to the skyline. The development also boasts a private yacht marina.City GemDiscount: To be revealed on June 3 to 6Location: Phnom Penh Thmey, Sen SokDeveloper: Thumbs Up International Co., LtdCITY 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. This is a project which is developed by Thumbs Up International Co., Ltd and Outstanding International Co., Ltd. CITY GEM Condominium is located in the Sen Sok district, Phnom Penh which is a new real estate development location comprised of residential and commercial development.R&F CityDiscount: To be revealed on June 3 to 6Location: Hun Sen Boulevard, MeancheyDeveloper: R&F GroupR&F CITY is located on the ‘Golden Central Axis’ of the city - Hun Sen Blvd in Phnom Penh. It is only 10 kilometres away from the airport. It is bordered by the embassy zone to the north and the developing ING City in the south. The project is adjacent to the Monivong Blvd, one of the few historic and bustling main roads in Phnom Penh, which brings together many specialties of the Kingdom, and it is in a lively neighbourhood surrounded by quite a few international businesses, such as a classy football club, duty-free shops, 4S automobile shops, and others. Within a 10-minute drive, you can reach the PH Mall, and Aeon 3 will offer you the latest in fashion and leisure.R&F City MIRODiscount: To be revealed on June 3 to 6Location: Hun Sen Boulevard, MeancheyDeveloper: R&F GroupR&F City MIRO is a newly launched residential development in Mean Chey District, a secondary location to the south of central Phnom Penh. The vicinity area is being developed to be a new educational, high-rise residential, and commercial zone with a new number of flagship high-rise buildings and infrastructure developments including the Samdech Hun Sen Boulevard. Preah Monivong Boulevard, one of the main commercial and embassy thoroughfare running north-south of the city is located close to the development.Borey Icon KampotDiscount: To be revealed on June 3 to 6Location: Tuek Chhou, KampotDeveloper: HL Nakara Development Co., LtdBorey ICON Kampot is a new residential project opening in the serene province of Kampot. Developed by HL Nakara Development Co., Ltd., Borey ICON Kampot endeavours to be the first residential project with a tourist-focused commercial center in the city. Both its residential and commercial components are topped with a 23.9m high Buddha monument, making it the premier contender for Kampot’s most iconic developments in the next few years.Borey NADIDiscount: To be revealed on June 3 to 6Location: Preaek Lieb, Chroy ChangvarDeveloper: GC City CambodiaBorey NADI is a new luxury community development marrying luxury modern living with natural beauty set in the up-and-coming district of Chroy Changvar. This 34-hectare residential development features a wide range of premium homes built with a unique aesthetic set within a tranquil verdant landscape surrounded by untouched greeneries complemented by amenities not found anywhere else in Phnom Penh!WorldBridge Sport VillageDiscount: To be revealed on June 3 to 6Location: Bak Kaeng, Chroy ChangvarDeveloper: WB Sport Village Co., LtdWorldBridge Sport Village is a mixed-use development in the fast-growing area of Chroy Changvar, just 20 minutes away from the Central Business District of Phnom Penh. It will be the first-ever sports village that offers you a one-of-a-kind opportunity to experience both work and play in a distinctively healthy atmosphere of an international-level sports village.Golden Tower 322Discount: To be revealed on June 3 to 6Location: St. 322, BKK 1Developer: Chhun Sambath Development Co., Ltd.Golden Tower 322 is an innovative commercial and residential complex that is located in the prime location of BKK1, the heart of Phnom Penh city. Golden Tower 322 is situated at the leading location of BKK1, where it is as prime as TST and is in connection to Monivong Boulevard, similar to Nathan Road of Hong Kong. Golden Tower 322 is a 42-storey building with extraordinary status, giving it a long-lasting value.All discounts for these exciting new developments will be revealed starting June 3 to 6. Register now!

The construction of the $300 million third ring road was 50 percent complete as of early May and is scheduled to be finished next year, according to the Ministry of Public Works and Transport’s spokesman Heang Sotheayuth. The 52-kilometre road stretches from National Road 4 from Por Sen Chey district in the west of Phnom Penh and crosses National Roads 3 and 2 to National Road 1, in the east of the capital, connecting to the Phnom Penh autonomous port.The construction of the road is expected to finish by September next year, Sotheayuth said.The road has 47 km of cement pavement and a 5-km stretch with asphalt paving. If there are no disruptions, the construction of the road will be ready as planned, Sotheayuth said. “The construction process continues despite the threat of COVID-19 disease.Both construction companies and technical consulting firms adhere to the Ministry of Health’s guidelines for combating COVID-19 disease,” he said.The road will contribute economically to the transportation and logistics sector, joining National Roads Number 6, 5, 4, 3, 2, and 1, to create a huge connection of roads.It will connect ASEAN highways and major economic corridors of the Greater Mekong sub-region, contributing to the facilitation of cross-border transport and promoting international trade and logistics.It will turn the land on either side of the ring road into potential housing, logistics, and industrial development areas.Link to the original article by Chea Vanyuth from Khmer Times:https://www.khmertimeskh.com/50857557/third-ring-road-50-percent-complete/

We’ve all heard about it and we’re all waiting for it: The Online Flash Sale recently unveiled the first few developers offering discounts to buyers like you!The question now is, how do you join and get the discounts during the event itself on June 3 to 6?How to register for the Online Flash SaleSTEP 1: Visit the registration page of the Online Flash Sale. It should appear something like this:  STEP 2: Fill out the necessary fields marked with an asterisk*STEP 3: Once you entered your phone number, click on “Send me SMS code”STEP 4: Enter the SMS CodeNOTE: If you are unable to receive an SMS code, kindly contact our live chat and our staff will gladly assist you in registering.  STEP 5: Set your budget and click on the boxes that apply to youSTEP 6: Click Register!What happens after I register?You can stay tuned for the weekly updates on properties onboard the Online Flash Sale. The event site is being updated regularly since the launch last May 6 and you can learn more about the new developments and resale properties soon to be revealed from June 3 to 6.How to get a discount during the Online Flash Sale:Securing a discount is easy! Simply visit either the “Projects” or “Resale Properties” Tab to view New Developments and Resale Properties offering you a discount!  From here, you can browse properties offering exclusive discounts! Click on the property you’ve selected and if it’s to your liking, be sure to click the “I’m Interested” button found on the right-hand side of the screen.  You have to be quick! There are only a limited number of discounts available from each developer, so be sure to click on that button and make your reservation with a fully refundable $200 reservation fee.* (Visa, Mastercard, ABA Pay, and Union Pay accepted)*Terms and conditions apply for the refundable $200 reservation fee. Two main things you have to remember: The fee can be refunded within 14 calendar days. It’s also worth noting that the reservation fee is deductible from the final price of your new property once you formally buy it!Got any more questions about the Online Flash Sale? You can visit the Online Flash Sale FAQ here.Or are you, like most people, excited to get a big discount on your new home? Register now!

The Legacy Villa is Borey Williams' best-selling floorplan out of all our home styles. Each Legacy Villa comes standard with a huge grassed-in plot of land measuring 300 square meters (15x20m). The home size measures 10m x 10.5m and is 2 floors. This large single-family villa has four bedrooms, five bathrooms, a living room, kitchen, and extra laundry room. The exterior design of the home incorporates an ultra-modern styling, with natural dry-stone wall cladding, natural wood paneling, and a two-tone modern paint scheme that is tastefully pleasing to the eye.As soon as you walk into the Legacy Villa you see a white granite spiral staircase next to a 6-meter-tall picture window, and a crystal chandelier making the interior sparkle. The Legacy’s interior is an American-style open floor plan with floor-to-ceiling windows, matte finish tiles, a kitchen island, and lots of cabinetry for storage. The kitchen connects to your living room which is great for entertaining guests and enjoying family time.This floor plan has many special features including natural custom-made wood doors, granite countertops in the kitchen and bathrooms, a large 14 square meter balcony connected to the master bedroom, and also double sinks in the oversized master bathroom. This home is customizable as many customers expand the floorplan further to add extra rooms such as an extra bedroom, a home office, walk-in closets, or a game room for kids.The Legacy Villa starts at only $155,500 per home and a low monthly installment of $718/month.

The influx of foreign investment and increasing activity from local companies in Cambodia have transformed its real estate sector into a source of many opportunities. Many foreign investors have taken advantage of continuous development and rising quality of life to purchase property for investment endeavours over the country’s recent decade of fast development. But as COVID-19 made international travel more restrictive, the Kingdom’s real estate market saw its focus shift to the local market.This shift to the local market has been taking off and Ms. Mom Sothavatey, GM & Leads Manager of Realestate.com.kh accepted the invitation to shed light on what Cambodian buyers have been looking for. In her time at Realestate.com.kh she has worked in Digital Sales, Developer Relationship Management, and Marketing before becoming the GM with a major focus on overseeing leads generated for clients and ensuring property seekers are serviced to a high level.“For many Cambodians, buying a house remains a big decision as it involves a lot of things to consider,” said Mom Sothavatey. Vatey, for short, recently purchased a home herself and noted some of the key factors that influenced her decision and the considerations of the many buyers she has come across.“Affordability remains a top concern for many Cambodians,” noted Vatey as a big factor for many local buyers. The real estate market’s growth brought with it development in the affordable spectrum, which has seen increased interest over the past few years and further accelerated by the fact that locals have become the more reachable market during COVID-19.Affordability and location remain the top priorities for many Cambodian property buyers. Photo taken during Realestate.com.kh's Home & Lifestyle Expo 2019.Being a recent homeowner herself, Vatey shared that she looked around the $30,000 to $40,000 price range for properties - also the range where most affordable properties are found. “Most young professional Cambodians, such as myself, are seeing the value of investing in our future. One avenue we can do that is by owning or investing in real estate” Vatey continued that being serious about buying property has taught her (and many other young Cambodians) to limit her expenses so she has more to invest in her future.“Location comes a close second for Cambodians,” she said, “The amenities and the growth potential of an area are key considerations for many buyers.” She mentioned that large developments such as shopping malls and infrastructure projects like national roads increase the value of projects in the eyes of local buyers.Chroy Changvar, for example, was on the fringes of Phnom Penh’s early development years. But as more developments came to the area like commercial areas and residential projects, more buyers have expressed interest and have now become one of the most eyed areas in Phnom Penh.Meanchey district is somewhat similar to Chroy Changvar. The southern district was largely occupied by shophouses and factories just a few years ago, but major developments such as the Hun Sen Boulevard and the announcement of the AEON Mall 3 construction have increased the value of properties surrounding these projects significantly.“The ability to get a loan has become more important over the past few years,” said Vatey. “Properties are major investments, especially for young Cambodians, and getting a loan is almost always a given for most local buyers”. Vatey noted that shopping for a loan plan also became a concern to her own property search. “I personally had to consult friends and family working in the financial sector so I know what I should look for in a loan.”Phillip Bank's Head Office in Monivong Boulevard, Phnom Penh. Photo by Phillip Bank.Banks in Cambodia have been proactive in marketing their loan programs to Cambodian property buyers; Phillip Bank and BRED Bank, in particular, have created friendly systems to make it easier for many loan seekers to get a loan - an effort that has contributed to keeping the real estate market active during the height of COVID-19.Realestate.com.kh, Cambodia’s leading real estate classifieds portal, launched Homeloan.com.kh as a one-stop-shop for home/investment seekers in Cambodia to easily shop for loans available. The popular website has also integrated a loan calculator in over 20,000 of its growing list of properties all over Cambodia for property buyers to easily calculate loans as they browse listings.The availability of many property types has been a result of the Kingdom’s fast-paced growth. Residential properties, in particular, are varied but can be simplified into 2 categories: Landed properties and condominiums/apartments. According to Vatey, landed properties such as those found in boreys (gated communities in Cambodia) remain a popular choice among local buyers.Borey Williams in Por Sen Chey, Phnom Penh is one of the projects seeing much attention in the district. Supplied. “There are many reasons why Cambodians gravitate towards landed properties,” said Vatey “In my case, I want to house my family in a space that can accommodate them in the long-term”. While city living has taken root in Cambodian culture, suburban living has similarly become a growing trend with locals spurred on by a city centre slowed down by rush hour traffic and increasing availability of more affordable housing on the city outskirts.Vatey observed that local buyers are keen on purchasing property close to big developments such as roads and commercial areas, saying “Many local investors have their ear close to the ground and as soon a big developer buys land somewhere, they will be quick to secure land near these sites”.Overall, Cambodian buyers are looking for good deals on the market. Local buyers understand that COVID-19 has resulted in some developments lowering their prices to meet demand. Vatey says that rooms for negotiations and availability of discounts make a property more appealing and that a property appearing to be for sale under market value will be quick on the sights of Cambodian buyers.Realestate.com.kh’s Online Flash Sale is an event that will be showcasing a wide collection of under-market properties from Cambodia’s most reputable developers and real estate agents. New developments such as the Stardream Lake Tourism Town in Koh Kong, Angkor Grace Residence & Wellness Resort in Siem Reap, and Vue Aston in Phnom Penh will be available at discounted prices.Resale properties from resellers all over Phnom Penh and the rest of the country will also be available at a discounted price. Register today and reserve your discount starting June 3 to 6!Article by:

The 2021 Realestate.com.kh Flash Sale is now live! Property seekers that are looking for the best deals in the market can now start browsing properties on the Flash Sale website, before the discounts are revealed on the 3rd of June for 4 days only. This year developers will only be offering special discounts on a selected number of units, so whilst the discounts will not be revealed until the 3rd of June, all interested buyers are highly encouraged to “register their interest” in particular developments and properties in the lead up to June 3. Once buyers register their interest, they will then be able to connect to the developer or agents straight away so buyers can obtain all the information they require before making a buying decision between the 3rd - 6th of June. Buyers are also encouraged to look at the resale properties section, where we have brought together some of the best under market value properties in Cambodia. Again, make sure you register your interest, as these properties are a once off!Throughout the month of May Realestate.com.kh will continue to add new projects and under market value properties in the lead up to the 3rd of June.The Online Flash Sale is part of Realestate.com.kh’s endeavours to connect buyers, agents, resellers and developers despite current movement restrictions. Economic slowdowns have historically been times where savvy property investors have secured properties at lower prices, and the Online Flash Sale will do exactly that for both local international buyers!How do I participate?STEP 1: Visit onlineflashsale.realestate.com.khSTEP 2: Register to receive weekly updates on new properties that are added to the event STEP 3: Browse properties and register your interest to be connected to developers directly STEP 3: Book your units - June 3 to 6!To kick the event off in style, we are launching some of the hottest projects right across the country! Stardream Lake Tourism TownDiscount: To be revealed on June 3 to 6Location: Koh KongDeveloper: Coastal City Development Group Co. Ltd.,The development of Stardream Lake Tourism Town covers an area of 248 hectares of land which is planned to include an ecological park and two lakes in the future. The project will be built after the completion of its green spaces, natural ecology, and pristine beaches to lay the foundations of an entrepreneurial community and leisure tourismClick here to see more detailsAngkor Grace Residence & Wellness ResortDiscount: To be revealed on June 3 to 6Location: Siem ReapDeveloper: Angkor Hearta Development., Co Ltd,Despite only being a few minutes away from the busy center of Siem Reap, Angkor Grace Hotel & Residence still affords residents the luxury of verdant landscapes rarely found in modern large-scale properties. The entire project measures 22,670 sqm largely composed of pristine greenery, the influence of which manifested in the residential units made with concrete and solid wood panels that pay homage to Cambodia’s rich architectural heritage.Click here to see more detailsVue AstonDiscount: To be revealed on June 3 to 6Location: Chbar AmpovDeveloper: The Peninsula Capital Co., LtdVue Aston is a newly launched condominium development in 2020. The development is located along the riverside in Norea Island which is a new residential development area. The development of a new bridge is scheduled to take place in the area and will serve as new access to Downtown Phnom Penh. This accessibility development is expected to attract greater traffic flow and land-rise which will drive the area to be the next potential development zone.Click here to see more detailsOther top properties offering great deals exclusive to this event:R&F CityWorldBridge Sports VillageCity GemThe Peninsula Private ResidencesLe Conde BKK1Ratana Plaza Top ApartmentGolden Tower 322Borey Icon KampotBorey Nadi by GC CityMake sure you also check out the best resale properties at the event as well! Register now!

Phnom Penh’s landscape: Photo credit to Mr.Chhoy ThearaWith the main theme of “Co-Creating Common Values of Sustainable Real Estate” in Cambodia, “Rainmaking Cambodia” has been selected to be one of the “Rainmaking Series” in 10 countries across Asia, Africa and North America, to be hosted by Good City Foundation with local strategic partners, virtually on 25th May 2021, supported by InvestHK and StartmeupHK. Rainmaking Cambodia is calling for urban tech projects submission and inviting interested real estate professionals, young leaders in housing public policy, and corporates to register and co-create the new pages of resilient values for future cities in Cambodia.Rainmaking Series’ page: https://www.goodcityfoundation.org/programs/rainmaking-seriesDelegate Registration Link: https://www.goodcityfoundation.org/programs/register-as-delegate“Rainmaking Cambodia” would be conducted in the form of Keynote Speaking; Panel Discussion and Tech For Good Cities Roadshow (to meet with angel investors). Representatives of the World Economic Forum, Cambodia Real Estate Association, Knight Frank, and other key influential stakeholders would sit in the panel discussion and explore the challenges and prospect of real estate development in Cambodia and the role where technology, public policy, Hong Kong, and Greater Bay can play and support.Tech For Good Cities Roadshow would be hosted with corresponding local top partners with a prime mission to identify impactful urban technologies and support their soft landing in Hong Kong and Greater Bay Area with potential investment matchmaking, market expansion advisory, and corporate partnership in Hong Kong and Mainland China to boost strategic business values.Global supporting partners include investment promotion agency of Hong Kong Government, InvestHK, World Bank IFC, Global Changemakers, Ventures Platform Hub and Hong Kong Scheme of Excellence Scholarship Scholar Association (HKSESSA). Local Supporting organizations include Knight Frank Cambodia, Realestate.com.kh, Property Area Asia, Cambodia Real Estate Association, and Digital Commerce Association of Cambodia.Good City Foundation is a non-profit non-governmental development organization founded in 2016 by a group of Hong Kong scholars and entrepreneurs, with a vision of better urban resilience in the next 100 cities in emerging Asia and Africa. The Foundation missions to foster innovative public and private partnership among the young generations in emerging cities, and have attracted a wide spectrum of innovative startups, family offices, young policymakers, and corporates to explore the latest development of urban design, economics, technology, and innovation and explore partnership. The foundation is an Institutional Partner of G20 Global Smart Cities Alliance and Private Sector Committee of ASEAN Smart City Network on behalf of Thailand, and also serving as Non-Profit Committee in the IoT and Urban Transformation Platform (Asia Action Group) and the Future Real Estate Taskforce of the World Economic Forum (China and ASEAN).Ms. Chan Pichmonyka, City Partner of Good City Foundation, has been inspired by the Foundation to be Cambodian Young Leader and continue enhancing her capability. After the summit, she deepens her leadership role in Cambodia and Asia, and speaks up for the issue, as the selected young delegate to the Model UN conference at the United Nations in Geneva and New York respectively. Currently, throughout her experience as the city partner and investment analyst (Capital Markets) at Knight Frank, a global real estate consultancy firm based in Cambodia, she hopes to leverage the Cambodia real estate market for growth acceleration.“In the year of this “Rainmaking Cambodia” I would like to humbly invite you to be part of our curation of the event and speak for the potential development, future city and entrepreneurship in the context of emerging Cambodia. As the expected overall outcome, the ultimate goal of the event is to connect all the aligning interests as a powerful network and resources for future discussion and impactful collaboration within the real estate and entrepreneurship ecosystem in Cambodia and across the region within ASEAN, Hong Kong and the Greater Bay Area. The sustainable real estate, is not just a matter of time, but together, we could break through the miracles, challenge the old dots, and create impacts”.Interested delegates and parties for the partnership could contact local city partner of Good City Foundation,Ms.Chan Pichmonyka (monyka@futurecitysummit.org)Rainmaking Series’ page: https://www.goodcityfoundation.org/programs/rainmaking-seriesDelegate Registration Link: https://www.goodcityfoundation.org/programs/register-as-delegate

Much of the Cambodian economy remains at a standstill as stricter quarantine measures are warranted to curb its spread. The Cambodian government has extended the lockdown of the capital city for another week and new zoning restrictions were implemented to halt its spread to other parts of the city. While these new measures appear to be means of allowing lower-risk areas to continue economic activity, it does beg the question: What about the rest of the Cambodian economy?Group CEO of Cambodia Investment Management Holdings, Anthony Galliano, joined Realestate.com.kh CEO Tom O’Sullivan in a discussion of the impact of lockdown measures on the Cambodian economy, specifically looking at its tourism, garment & textiles, agriculture, and construction & real estate sectors.The tourism sector has been the hardest hit since the global outbreak of COVID-19. The Ministry of Tourism’s report indicated that tourist numbers dropped by 80% in 2020, with only half of the first quarter of that year seeing arrivals comparable to previous years.“Tourism and hospitality are not in the best position at the moment,” said Anthony. “There was hope at the tail-end of 2020 but that the February 20 incident upset that”. Travel restrictions, from both ends of the flight, prevent most would-be tourists from coming to Cambodia. Anthony added that travel restrictions have stymied the growing tourism industry and the hospitality sector as a result.Tourist numbers have steeply declined over 2020 with continuing travel restrictions. Photo by the Khmer Times.Anthony noted that some form of international travel is returning like in China, Europe, and the United States but travel between South East Asian countries remains largely limited. “The gross revenue from tourism has been reduced to just over a billion dollars in 2020, a steep decline from the 4.9 billion we saw prior to COVID-19,” Anthony observed. He added that what activity tourism and hospitality saw in 2020 was frontloaded in Q1 before global tourism was put to a halt and that 2021 may be a more challenging year.The garment and textiles sector, which contributes 16% of GDP has done relatively well throughout the past year COVID-19 has been present in Cambodia largely due to healthy exports overseas, particularly those heading for the United States. The recent findings of positive cases in garment factories around Phnom Penh, however, have resulted in factories suspending operations and the sector is now facing problems of its own.The government recently announced that garment workers in factories under lockdown will receive a 50% salary in April. Anthony mentioned that this may affect the supply chain and put manufacturers in a position of struggling to meet orders. “This puts the sectors at risk of some orders being diverted to other production facilities like in Vietnam, Bangladesh, and Indonesia'' he said.Farmers find it difficult to transport goods during the lockdown. Photo from the Khmer Times.The agricultural sector is another big contributor to Cambodia’s economy employing a third of the workforce. Cambodia’s primary exports of rice, fruits, and vegetables have been integral in its export portfolio. However, Anthony observes a trend towards “self-consumption” instead of production on a large scale.“It’s an unfortunate trend as there’s a lot of small-scale farming. The country’s agricultural sector has held much promise in large-scale production that has not been realized yet” said Anthony. He says that one of the biggest problems of the sector is the low amount of foreign direct investment it receives compared to other industries in Cambodia despite consistent support from the public sector.“One of the things that could help is the Free-Trade Agreement with China,” said Anthony. He mentioned that part of the FTA is the exports of Cambodian agricultural products to China. The arrangement is already bearing fruit with a large shipment of mangoes worth $470 million. Anthony cites this as a momentum to increase agricultural production and exports despite COVID-19.In terms of real estate, Anthony noted that land properties remain an extraordinarily resilient market. “The land market is almost always on the uptrend and I’ve never met anyone who said they bought land and lost money on it,” he said. Owning land property remains a largely exclusive right to Cambodian citizens and has been a source of a boon for many landowners selling or leasing land in the wake of the Kingdom’s fast-paced development.On the other hand, new developments such as condominiums have seen some downward pressure following the community outbreak. “Volume of transactions are down by 15% to 20% in the condo market and we’ve seen prices go down by 20% to 30%,” said Anthony, “There are even some offering up to 40% discounts which shows a short-term slowdown in the market”.Anthony shares the observation much of the condominium market has been focused on the international market. But as travel restrictions currently stand, these buyers are not able to see the properties for themselves, and as a consequence, do not pursue purchases as they did prior to COVID-19. Nevertheless, Anthony reminds everyone that Cambodia’s real estate market is still in its early stages.“In my 20 years in Asia, if you look at the skylines of Bangkok, Jakarta, Kuala Lumpur, and Manila, these markets started out with very little development and they just exploded and demand self-fulfilled itself over the years,” he said. Historically, dips in the market have been windows where property buyers keen on making a good investment by buying low. Cambodia’s current market landscape presents an opportunity to look for deals on the market.Phnom Penh’s city skyline at night. Supplied.At the start of 2021, the National Bank of Cambodia forecasted a 4% economic growth for the Kingdom if vaccines can successfully curb the spread of the virus. “The light at the end of the tunnel appears to be flickering in and out every time there is a community spread” according to Anthony, “But there are silver linings in all of this”.Anthony lauds the government, particularly the Ministry of Health, for having a vaccination plan in place. “The government is quite well-organized. Vaccinations are arriving, there’s a schedule of different vaccines, and the Ministry of Health has a very clear plan of distributing these vaccines” he also credited the business community for their financial support and the commitment of the population to implemented quarantine measures.“The lockdown has somewhat slowed the infection rates. I believe that vaccine rates will go up in the next couple of months and we might see a rebound by the 4th quarter” he said. He cautioned that the first signs of recovery may not include tourism. But other industries, such as construction & real estate, garment manufacturing, and agriculture may see initial signs of rebounding towards the end of 2021.Looking to get in on the next live interview? Sign up here!

Covid-19 has been a major effect to almost every industry dated since early of 2020 until present time, as well as in real estate industry. Due to the seriousness of the global situation, all flights forcibly stopped the operation until recovery. During the disruption of pandemic, nearly whole market is unpredictably going down, the buyers have more bargaining power in purchasing, hence most of the project is utilizing prize discount to attract more buyers and stimulate their sales. Surprisingly, Le Condé BKK1 have been performing very well ever since the last 2 quarters of 2020 and achieved remarkable sales volume to be the top sale project in the market. Likewise, the project itself becomes very popular in the Cambodia market. Effective from 23th April 2021, Le Condé BKK1 is pleased to inform that the unit price is increasing 5%. As Le Condé BKK1 homeowner, congratulations that your property has gained 5% capital yield.  From client’s and professional agent’s perspectives, Le Condé BKK1 is a rare and iconic condo development that is highly efficient for both living and investing. That is why a quick positive reputation of this project well-earned as Awards Winning Project by PropertyGuru despite the pandemic.  Situated in great location of central Boeung Keng Kang I, Le Condé BKK1 is thoroughly designed to create the first revolutionary condominium in Cambodia market with healthy, luxury and smart living lifestyle. All these strong factors made this project undeniably great for comfortable living and high return in rental that contributing to high demand from customers, especially smart home technology.  One of core principles of Le Condé BKK1 is firmly to protect homeowner’s interest. So your investment with Le Condé BKK1 project is and will be continuously secured. Le Condé BKK1 is really thankful for your trust and investment in our team and in return we promise to make your investment worthwhile for long-term relations. Besides high-class condo units with smart-home technology and revolutionary facilities, to upgrade this project to be a truly harmonious community, Le Condé BKK1 will introduce you the new product soon, the developer will announce the detail information in May. Stay tuned with us!  Looking to get in on the next live interview? Sign up here!

CVEA President Chrek Soknim gave us insights into the real estate market’s response to the lockdown measures imposed in Phnom Penh. This article is a summary of the interview, which you can view in full-length on Realestate.com.kh’s Facebook page.On the eve of Khmer New Year celebrations (14th of April), the Cambodian Government implemented strict lockdown measures in Phnom Penh and Takhmao to prevent the spread of COVID-19. This is on top of the previously mandated 8pm to 5am curfew implemented throughout Phnom Penh. Many businesses, particularly in the real estate sector are wondering: “What happens now?”Cambodian Valuers and Estate Agents Association (CVEA) President Chrek Soknim joined Realestate.com.kh CEO Tom O’Sullivan in a discussion about navigating the current landscape as well as a discussion on any possible reforms to allow agents and the industry to continue business during this period.“Everyone is experiencing a measure of challenge in light of the lockdown” said Mr. Soknim. “This certainly affects the Cambodian property market, especially in Phnom Penh. But this has not deterred our efforts to continue doing business with the help of technology”.He highlighted the importance of recognizing the danger posed by COVID-19, following government-mandated health measures, and finding ways to continue doing business despite current circumstances.The elephant in the room was the question of whether or not properties were still moving in the market, and Mr. Chrek clarified that deals are still being closed. “Deals are still being facilitated even during the lockdown” he said.Properties for sale have noticeably slowed down but are still receiving inquiries from interested buyers. Mr. Chrek observed that developments have an easier time closing deals during this period as opposed to existing homes. If you are interested in knowing more about all the new developments for sale in Cambodia, check them out here on Realestate.com.khGenerally “property buyers have all the information they need online and I think they will revisit the property market once the lockdowns are alleviated. After all, the nature of doing business in real estate is being able to see the property first-hand” he said. Mr. Chrek Soknim emphasized that providing information via online means has been crucial in capturing and keeping interest despite restrictions.Mr. Chrek considers the overall current situation as far from being a crisis. “The market is still strong as the interest is there. It’s just a matter of being able to visit the properties so buyers can make the right decision for themselves,” he said. On the contrary, he sees the current situation as an opportunity for property agents to learn additional skills while they stay put at home. “There are plenty of online resources that teach negotiation, sales, and marketing skills,” citing that he himself is subscribed to an online course teaching management and negotiation skills. “This is a good time for real estate agents to expand their skills so they have something more to offer for when the market eventually bounces back”View in full-length webinar on Realestate.com.kh’s Facebook page.Article by:

While Cambodia has been facing COVID-19 for more than a year, it is only now that a strict government-enforced lockdown has been implemented. Many businesses, particularly in the real estate sector are wondering: “What happens now?”CVEA President Chrek Soknim joins Realestate.com.kh CEO Tom O’Sullivan in an exclusive interview to discuss how the real estate market is responding to the new measures and how to best navigate the market throughout the lockdown.CLICK HERE TO JOIN THE LIVE INTERVIEWThe interview will start on April 21st, 2021 @ 2pm GMT+7. In keeping with lockdown measures, the interview will be conducted via Zoom and will be streamed on Realestate.com.kh’s Facebook page.Realestate.com.kh is continuously working to provide local property seekers and international investors with the tools and information in relation to the Cambodia property market.

Phnom Penh may see a slowdown in property market activity as inter-district travel becomes more restricted. SuppliedThe Cambodian property sector is facing a new round of challenges with the introduction of stricter lockdown measures last Khmer New Year. This time, however, Phnom Penh is at the center of the new quarantine measures leading many businesses, particularly real estate agencies & developers to adapt once again.CBRE Cambodia, a leading real estate consultancy firm, released its Q1 2021 Market Report before the Khmer New Year. According to their latest assessment, the condominium sales market saw respite from the few consecutive quarters with the high-end seeing an uplift of 4.8%, the affordable market seeing an uptick of 3.5%, while the mid-range saw a slight downward movement of 0.4%.The uptick in average sale prices in Q1 2021, particularly in the high-end, is an interesting trend as it is in contrast with how the property market reacted to the comparatively less severe November 28 incident. Though it is worth noting that Cambodia started 2021 with high hopes; such as the positive economic forecast from the National Bank of Cambodia (NBC) sometime back in January 2021.The CBRE report additionally noted only 12 out of the 19 expected condominium completions were delivered from the 2020 pipeline. The delays in construction can largely be attributed to supply chain disruptions across the globe.In terms of rental rates, CBRE’s report observed a positive movement over the first quarter of 2021. The high-end saw an increase of 1.3% and the mid-range saw a 1.7 increase. The affordable market, however, boasted 3.5% quarter-on-quarter growth likely caused by the market’s shift towards the segment.CBRE’s report notes that while these are positive signs, there is still a long way to go to make up for the decreases in both sale and rental prices witnessed over the course of 2020. As a comparison, the high-end rental rate at the end of the relatively well-performing Q1 2021 is still 9.4% below its value from Q1 2020.The property market’s recovery is directly tied with the confidence of buyers to go out and spend. While it is still early to determine how much the lockdown will affect condominium sales and rental trends further into 2021, we can expect the market to slow down due to intercity travel restrictions and the added red tape required to travel between areas.