Time and again, the issue of foreigners obtaining Cambodian citizenship has cropped up.While not coveted as the citizenships of countries like the United States, Australia, and Canada, Cambodian citizenship is, nonetheless, pursued by some foreigners. For foreigners, the most cited reasons are ability to acquire land and other property in their own name and ability to travel to other ASEAN countries visa-free - Read more How to invest in Land in Cambodia for foreigners on Realestate.com.kh!Cambodian citizenship has also been bestowed to foreigners with exemplary contributions to the Kingdom.Chinese and South Korean investors are said to be the most common recipients of Cambodian passports. There was a spike in Cambodian passport applications starting in 1993 after the country was admitted to the ASEAN.Prominent people who have obtained Cambodian citizenship include American actress Angelina Jolie (for her conservation work), Japanese Olympian Kuniaki Takizaki, and Australian humanitarian Geraldine Cox for her work in an orphanage in the country’s southeast.There are five ways for a foreigner to obtain Cambodian citizenship. We explain in this article each and every route to obtaining a Cambodian passport:Naturalization- This is the most common and takes the longest time to complete. Seven-year residency, fluency in the Khmer language (speaking and writing), and a clean criminal record are the requirements for obtaining Cambodian citizenship by way of naturalization.Citizenship by marriage- A foreign man or woman married to a Cambodia national can obtain Cambodian citizenship after living together for at least three years after their marriage was registered with the proper authorities.Citizenship by Investment Program - This cash-for-passport program bestows Cambodian citizenship to a foreigner who invests 1.25 billion riels ($312,500) in Cambodia. In this case, the 7-year residency is waived. However, other requirements for naturalization like language fluency still apply.The cost of obtaining citizenship by investment is said to be in the region of $75,000.A local agent revealed that many Japanese, Chinese, Korean, Australian and Vietnamese business people obtained Cambodian citizenship by way of investments.Citizenship by donation- A foreigner could also be accorded Cambodian citizenship if he donates 1 billion riels ($250,000) or more to the national budget.Special achievements in Cambodia’s interest also give foreigners the right to apply for honorary citizenship.Citizenship by birth and descent - Those born to at least one Cambodian parent anywhere in the world are legally entitled to Cambodian citizenship. The same applies to children born in Cambodia to foreign parents who were born and legally living in the Kingdom.While having a Cambodian passport will not bring you far vis-a-vis visa-free travel, Cambodian citizenship does offer some advantages. Obtaining Cambodian citizenship is very advantageous in terms of living, working and investing in the Kingdom.Firstly, you will no longer need a visa to enter and work in the country for as long as you want.Secondly, you can own land and other property in your name.  Currently, foreigners are restricted to owning the first floor and up, up to 70 percent of one building with a strata title.Thirdly, you can apply for concessions and licenses from the government that are otherwise only available to Cambodian nationals.The process of applying for and obtaining Cambodian citizenship:The Ministry of the Interior processes applications for Cambodian citizenship. The process usually takes two to three months. There are several steps that a foreigner who wants to obtain Cambodian citizenship needs to complete:1)   Go to the Ministry of the Interior to find out what is need to obtain Cambodian citizenship. Inquiries can also be made at Cambodian embassies and consulates worldwide.2)   Gather the needed documents and submit the application to the Department of Citizenship under the Ministry of the Interior. Documentary requirements include: Proof of birth (birth certificate, hospital birth record, baptismal certificate, etc.); recent passport photographs; police clearance certificate; identification documents (driver’s license, passport) medical clearance certificate; and proof of residential address (utility bills, rental/lease agreement).3)   Application will undergo verification. Interviews and investigations are carried out as part of the verification process.4)   After verification is completed, a decision to reject or approve the application is made.5)   The applicant is notified about the decision in writing. If application is approved, it is published to allow anyone with an objection to come forward.6)   When the publication period elapses and no objections were raised, the applicant is required to take an oath court.7)   After taking the oath, applicant signs it and is pronounced as a Cambodian citizen.Looking for real estate for rent in Cambodia or real estate for sale in Cambodia? or Read investment opportunities by Realestate.com.kh

Phnom Penh is developing at a rapid pace, and with this development comes an influx of investors, mostly foreign, seeking to build and expand their businesses in this capital city of this Kingdom.As building an office from scratch is mostly out of the question, especially for foreigners, because of the high expenses involved and limitations set by local laws and regulations, the foremost concern now for these people is to find the best space they can rent at the most reasonable price.If you go around the city, you can see a lot of signs advertising buildings and other properties for rent. While some of them can be rented at a low price, especially if the building is located far from where the main commercial activities are being held, most of them are expensive, especially if rented for commercial purposes.To date, there is a glut of office space in Phnom Penh. Massive investments in the infrastructure and property sectors have pushed the number of office spaces in the capital city. The most conservative forecast put the increase at 77% by 2020.While Phnom Penh is not as expensive as other metropolitan areas in the world like Tokyo and Singapore when it comes to office rentals, the high rental rates offered by many establishments would make it hard to attract many would-be investors, especially the not-so-moneyed small and medium enterprises like a minor consultancy firm, media company, mini-mart, drug store, and the like.Such unfortunate scenario would not be good not only for the local economy, but also the economy of the entire country, which by and large is dependent on the outflow of capital and investments from the outside.But a careful study made for a startling and very significant finding that shows some of those firms offering office space for rent actually offer much reasonable rates compared to their peers and competitors in the Office rental business.Take the case of TSE. Focused on small and medium enterprises, TSE provides full office services to all of their tenants with emphasis on client satisfaction.A comparison of rental rates shows that while TSE charges more for rental for a typical office and flat compared to its competitors, its rates are actual lower when you factor in everything.A TSE renter for an office space for an average of 10 persons will have to pay a total of $8,400 in one year, inclusive of monthly rental, cleaning, security, pantry, and meeting room. Monthly rental for a TSE office is $700. For other rental companies, rental of the same office space would entail charges reaching $10,800 ($900 monthly rental) in one year. This is because the $500 monthly rental is compounded by $150 in cleaning/security fees and $250 in pantry/meeting room fees, which increases the monthly rental to $900.For a flat, the total rate for one year reaches to $9,400 due to the fact that the $300 monthly rental increases to $1,700 in the first month due to the addition of $200 fee for cleaning, $200 charge for security, and $1,000 for pantry/meeting room. A $700 monthly rental is charged in the second to the 12th month of the rental contract. For more detailed comparison, please refer to the graph and table at the bottom.While one may have doubts whether TSE offers the best services considering that it offers the cheapest rates in the long run, we have some testimonials here that can attest to the company’s topnotch service to its clients and customers through the years.“It’s a pleasure to work here. I am satisfied with the office environment. It is a modern, comfortable, and clean office that makes hard work for me and other staff easier,” said TOS TOV marketing staff Hong Sokunraksmey.For Okoone CEO Julien Meunier, the experience with TSE has been remarkable.“The Office #106 has proved to be a valuable asset to our company over the last year, providing a convenient and comfortable working environment for our employees and reinforcing our corporate image of an innovative digital agency,” he said.“With continuously expanding operations, we are often in search of clean, modern and well-designed office spaces with staff amenities and proper building management, and enough flexibility to accommodate anticipated growth: The Office has proved to meet all these criteria. I would definitely recommend The Office to any company looking for high-quality and well-managed office facilities in Phnom Penh,” Mr. Meunier added.Other companies that have rented office space from TSE include the job search website PHNOMLIST, One Degree, Prasat Study Abroad Consultancy (PSAC), and The Furniture Express (TFE).Obviously, as the findings above show, TSE offers the best rates for office rental around town. No doubt about it.Comparison of TSE rental rates with that of its competitors Please check the office for rent in Cambodia on Realestate.com.kh!

The Seagate Suite project is the foremost mixed-use development on the coast of Sihanoukville, Cambodia; and will soon be the tallest building in the province. The development is located in Phum Bei Village, Sankat Bei; adjacent to Victory Beach and what shall likely become the future CBD area of Sihanoukville city. The project offers residents a 360-degree view of both the ocean and fast growing city.On the 17th of December 2017, The Seagate Suite officially commenced sales at its official opening ceremony. The launch informed the market and general public as to how The Seagate Suite is operating in Cambodia and how the developer will play an influential role in the real estate sector both now and into the future.H.E. Sar Kheng, the Minister of Ministry of Interior, congratulated and welcomed to Cambodia the Hefei Friendship Association. The Hefei Friendship Association initiated the cooperation between public and private partners in order to launch The Seagate Suite project. His Excellency added that this new project will offer another option for Cambodian and non-Cambodian Nationals who want to live in the Kingdom.H.E. Sar has also encouraged the local authorities to focus closely on their roles to ensure convenience for all investors, local and international, who want to process documents related to purchasing and securing condo units in Sihanoukville province.   Lok Oknha Ouk Socheth, Chairman of the Cambodia Hefei Friendship Association and representative owner of The Seagate Suite development, said that: “The vision of the Cambodian economy, along with the Cambodia-China relationship through strategic investment policies, is showing notable growth. The residential development of The Seagate Suite reflects this positive trend of development through cooperation.”  Developed by KHCN Investment & Development Co,. Ltd, The Seagate Suite will be an iconic building in Sihanoukville for years to come. The Seagate Suite condominium is designed to bring an international standard of living to life for all residents; through both its inside and outside facilities and amenities. The project will be 45 stories tall and cover a total area of 1,118 square meters. Studio rooms will range from 31.21 square meters to 70.12 square meters. 1-bedroom units span anywhere from 60.15 square meters to 88.62 square meters. Meanwhile, 2-bedroom units measure 113 square meters.  Buyers will have multiple options when it comes to unit designs, as they are able to choose between 6 different and distinct unit styles. These include Northern European, Minimalist, Southeastern, Luxurious Baroque, New Oriental, and Neoclassic. The Northern European, however, has a free design and comes fully-furnished.In addition, each unit comes with a Smart Home System that operates via application. Each unit is a smart home, with app controlled air-conditioning, sockets, TV, music, security cameras, keys, water heating system and lighting system.In term of safety and security, The building also has built-in security features such as smoke detectors, sprinklers, fire extinguishers, hose reels, and an emergency sound alarm. Management will even include 24/7 security.Lok Okhna Ouk said that the project aims to bring a unique value for residents, including a 700 square-meter infinity pool, private meeting hall, shopping center, market, fully-equipped gym, steam room, spa and sauna, restaurants, business center, multi-functional conference room, rooftop tarmac, banquet hall, luxury casino, cinema, ktv, bar, art gallery and even a helipad on the roof.The Seagate Suite is now officially open for sales, at a starting price of just $70,000 per unit. This new development guarantees rental returns up to 16 percent over two years (or 8 percent per year). As an added bonus, buyers won’t need to spend any additional money on furniture when they move - as a full set of furniture is included, custom designed to suit the space, style and design of the building. Another useful perk is that if the buyer wishes to resell the unit, the developer also guarantees to absorb the 10 percent sales tax.Check out the new development or The Seagate Suite  listing today on Realestate.com.kh!Find out property for rent in Phnom Penh or property for sale in Phnom Penh!

When you are a landlord who wants to rent out a property fast to the best tenants, you need to be aggressive and do things that will defeat the competition.The best tenants are those who pay their rents on time, keep the property in good condition and want to stay for medium to long-term.In Part 1 of this two-part series we will discuss a few important tips you need to consider and do when you want attract the best tenants for your property rental, thanks to Realestate.com.khLocation of the property is importantIf your property is located in areas in the Phnom Penh suburbs like Steung Meanchey, Chom Chao, or Chbar Ampov, most likely you can only rent your place to locals, particularly students and employees.If you want to buy property for rent and have expats rent it, you should consider the following areas: Chamkarmon--BKK1, BKK2, BKK3, Toul Tum Poung, Tonle Bassac, Toul Kork and Sen Sok or Chroy ChangvarAdd extra value to your propertyThe better the property, the more it will attract tenants. In Phnom Penh, the competition is strong because there are many apartments and condos for rent. So if you have the better property, then you will thrive well among the competition.It is proven that most of the renters want to get extra facilities and amenities. A property with decorations and furnishings will be more attractive to prospective renters. With regards to decoration, if the tenants want their own style you change it for them.With regards to decoration, if your tenants prefer to have their own decoration style, get it change for them.You can also offer extra incentives such as putting in cable TV, Internet, and means of transportation such as a bicycle or motorbike.Make sure you market your property wellGood advertising often brings in the best. You can market and advertise your property for rent by word of mouth, through the media (newspapers, magazines, and other news portals) or by way of social media (Facebook, Linkedin, Twitter, Instagram, etc.)If you want others to do it for you, you can also hire a real estate agent to market your property. You can also seek the advice of a reputable advertising firm.The advertisement should be attractive as possible (with glossy pictures) and clear description- rent, rooms, location, price, responsibilities, condition of property, facilities, surrounding amenities  and other features including parking, garage, garden, etc. Relevant contact details (email, phone number) should also be included.Stay tuned for Part 2 of this series where we will discuss more tips to win over the competition, importance of contract, and how to keep your tenants happy.Look for real estate for rent in Phnom Penh? Or want to read about critical tips for prospective lessors? Check out Realestate.com.kh.

2018 is already off to a roaring start in terms of the Kingdom’s foreign investment. Chinese Premier Li Keqiang's visit last week resulted in the signing of 19 fresh Memorandums of Understanding, with the majority focus of these agreements relating to key infrastructure initiatives that will have vast economic benefits for many of Cambodia's key industries and sectors.However, before delving into what the bulk of 2018 may have in store for Cambodia’s economy and real estate sector, it is paramount to take into account many of the definitive events and market shifts that 2017 bore witness to. These are namely, the slowing of the condominium market in favor of boreys and more affordable homes, proposed tightening of legal regulations and the influx and impact of Chinese tourism.All of these factors, as suggested by various industry experts and reports, can give insight into what to expect in terms of the real estate market in 2018.According to the annual 2017 report released by the Ministry of Land Management, Urban Planning and Construction (MLMUPC), the combined value of approved construction projects reached $6.42 billion in 2017, an increase of 22.31 percent from 2016.There was a major market shift as to the type of property projects constructed, however, with growth in affordable housing and borey projects as a result of consumer demand.The Housing Market and Outlook Report 2017 released by VTrust Appraisal in December showed the nationwide supply of landed housing units (boreys) increased by 11 percent in 2017, with 13,900 borey units launched- as opposed to 12,500 units in 2016.Mr. Hoem Seiha, Director of Research at VTrust Appraisal and author of the report, said: “2017 was the biggest year for the completion of cluster landed housing units (units within boreys) of  this decade."Two of the report’s overall conclusions were namely that; the increase of borey launches aligns with the market demand for this property type- which was different to initial 2017 predictions, and successful borey launches in 2017 performed well- especially if they constituted as low-price housing projects.Mr. Kim Heang  President of the Cambodian Valuers and Estate Agents Association (CVEA) defined this 'low-price bracket' as being within the $30,000-$40,000 price range.Preliminary signs in 2018 show the introduction of new borey projects will continue, with over 8,000 borey units already announced and slated to commence construction in early 2018.  However, launches of condominium units fell from 18,500 units in 2016 to 10,000 units in 2017, representing a 45 percent annual decrease in 2017 according to the VTrust report.This decrease of condominium launches demonstrates that the speculation regarding oversupply has come to developers attention and led to the diversification of projects to align with shifting demand.Commenting on this further, Mr. Hoem added: "In 2018 developers will need to continue to expand their home offers to compete in the market and offer even more flexible payment options for buyers to boost sales.”However, Mr. Kim was optimistic about the real estate market going forward: "In 2018, one should buy property because there will be a lot of sellers of property in Phnom Penh and thus buyers can buy property for a good price."Another major change in 2017, which is anticipated to develop further in 2018 is in relation to new regulations proposed by the Ministry of Economy and Finance in late October to restrict the number of licenses that are issued for construction investment projects and real estate properties in the Kingdom.The drafted new law aims to protect financiers of projects from being defrauded by investors and ensure that projects that are granted licenses are completed on time. Recently, the Ministry of Economy and Finance has said to crack down on construction licenses.Mr. Kim said when the law was announced that: “The new law is very good for Cambodian society, as it ensures that only those with real capital can invest in real property projects,“Moreover, the law will help reduce the amount of non-physical projects being sold because there used to be companies using their land as collateral at the bank and then announcing their projects for sale, and projects like these are very risky.”Key agencies and associations such as CVEA and Cambodia Constructors Association voiced their support on this policy proposal and with initial Government estimates that this law would take be enforced in late 2017, it is likely that critical updates about this initiative’s implementation will follow suit in the coming months.Finally, Chinese tourism played a major role in the kingdom's economic development and this is anticipated to continue to develop over 2018 and the years to come.The second National Forum on "China Ready for Cambodia Tourism” was held in October 2017, to discuss the white paper policy, in which Cambodia's Tourism Minister,  Mr. Thong Khon addressed Cambodia’s plan to attract two million Chinese tourists to the kingdom by 2020.Progress can already be seen as Cambodia welcomed over one million Chinese tourists to the kingdom in 2017- the largest influx recorded, according to Mr. Thong and brought over 700 million USD into Cambodia’s economy.With the policy focusing on introducing more Chinese friendly tourism facilities, such as Chinese speaking tour guides, hotels, and facilities, it is likely that this growth will remain strong throughout 2018.Ultimately, although the transition into 2018 has been smooth for the real estate market and economy alike, when looking at what should be expected for the remainder of the year, key market shifts, legislative changes and economic growth trends that took place in 2017 should not yet be left in the dust, but rather be used to provide guidance as to what should be expected throughout this coming year.Looking for Real estate for rent in Phnom Penh?  Check out other great resources on Realestate.com.kh now! Go to our Location Profiles and Investor Guides pages for more information!

Phnom Penh - Mekong based private equity firm Belt Road Capital Management (BRCM) has made its first ever investment of AUD $2.25 million (USD $1.8 million) into Digital Classifieds Group (DCG), the online classifieds group behind Cambodia’s leading real estate website Realestate.com.kh.The recent investment from BRCM marks one of the largest tech investments in Cambodia history, with much of the funds earmarked for rapid growth in Cambodia and related Southeast Asian markets.“The company has made major investments in its technology and core human resources, which have increased the interest of investors in recent funding rounds. When we first commenced the business we undervalued the importance of our platform and bootstrapped every part of the business,” said Mathew Care, CEO of DCG. “With the benefit of hindsight, we have spent over 18 months developing a world class platform, based on proven Australian real estate portal technology, which is now delivering outstanding results.”Care added: “We are presently reviewing a range of expansion opportunities, particularly in Cambodia, where we have seen a tremendous surge in internet penetration and rapid urbanisation. We believe that our experience, platforms and committed expatriate and local teams are capable of tackling almost any new opportunities - and this additional capital gives DCG and Realestate.com.kh the ability to take on a much larger share of the Cambodian and Southeast Asian online marketplace.”“Having seen the swift growth of Realestate.com.kh, and a high level of professionalism across DCG’s local and international operations, I was more than confident to introduce the opportunity to the equity partners of BRCM. I believe this company has a strong future in both the Cambodian market and internationally, and I’m excited that BRCM will now be a part of this journey,” said Alex Odom, Chief Investment Officer of BRCM. “We’ve previously worked with Alex Odom, the Chief Investment Officer at BRCM, and have always respected his expertise. Whilst we weren’t actively seeking funding at the time, we believe Alex and his team will bring a level of experience market knowledge to DCG that is invaluable,” said Tom O’Sullivan, CEO of Realestate.com.kh.O’Sullivan added the additional funding will fuel growth in DCG’s existing market, including swift expansion into additional business verticals within Cambodia. The funding is also highly strategic given BRCM’s unique focus on countries exposed to China’s ‘One Belt, One Road’ policy, particularly Mekong based countries such as Cambodia, Laos, Vietnam, Myanmar and Thailand.“DCG is prioritising Cambodia and greater Southeast Asia for investment and expansion,” noted O’Sullivan. “Given BRCM’s deep experience in Cambodia and related ‘Belt Road’ markets such as Myanmar and Laos, we are excited about the benefits that their knowledge and connections will bring.”About Realestate.com.kh:Established in 2009 by Cambodian National Moek Chenda, Realestate.com.kh has grown to be the leading real estate website and marketing company in Cambodia, working with the nation's leading real estate agencies, developers and lenders. In 2015, Australian-based DCG partnered with Moek to develop the business rapidly.The platform, in Khmer, English and Chinese languages, has over 40,000 properties for sale and rent, with tens of thousands of property hunters visiting the website and app each month. Realestate.com.kh also produce a quarterly real estate magazine entitled “Cambodia Real Estate” in English and Chinese languages, and co-produce a weekly property section with The Khmer Times newspaper. Realestate.com.kh also hosts the “Cambodia Real Estate Show” series, which has facilitated over USD $30m in direct sales in 2017 alone.For more information please visit official site: http://realestate.com.khAbout Belt Road Capital Management (BRCM):Belt Road Capital Management is a private equity investment manager based in Phnom Penh, Cambodia which focuses on the Greater Mekong Sub-Region consisting of Cambodia, Myanmar, Lao PDR, Thailand and Vietnam. The company partners with promising small and medium sized enterprises (SMEs) to support the achievement of strategic goals, facilitate sustainable growth and expand access to new markets.BRCM has launched its initial round of fundraising with value up to USD $50 million and has began deployment and plans to launch subsequent investment funds in the near future.Fore more information please visit BCRM official site: http://www.beltroadcap.com About Digital Classified Group (DCG): DCG has grown rapidly since its 2014 launch to create the dominant real estate portals in Cambodia (www.realestate.com.kh), Papua New Guinea (www.hausples.com.pg), and Fiji (www.property.com.fj). The group also owns the leading general classifieds websites in Laos (www.yula.la), Papua New Guinea (www.marketmeri.com), and Fiji (www.market.com.fj). DCG has taken leading positions in all of these markets through innovations such as sophisticated search technology, a localised approach to each market (languages spanning English, Khmer, French and Chinese), CRM and website solutions for real estate agents, and high-value real estate sales events.DCG believes having the right people is the single most critical factor for success in emerging markets. The business has created an environment in which any member of the team has a clear pathway toward equity participation via an employee share option plan. At board and shareholder level DCG has a huge depth of online classifieds experience, including director Tim White who spearheaded the successful expansion of Allhomes.com.au from humble beginnings to its AUD $50 million acquisition by Fairfax Media. For more information please visit DCG official site: http://digitalclassifiedsgroup.comMedia contact:1. Mathew Care, CEO of Digital Classifieds Group, mathew.care@hausples.com.pg | +61 409 598 2272. Sokunthea Hang, Investment Analyst of Belt Road Capital Management, sokunthea@beltroadcap.com  +855 12 223 458Find out the best real estate news on Realestate.com.kh

In the Kingdom, traditionally there are three major classifications of land title which are utilized throughout the country. The ownership titles that are commonly referred to are namely, hard title, soft title, and strata title (enabling for foreign ownership within condominiums- subject to certain conditions). Each title confers different rights and securities -  see Realestate.com.kh's Cambodia Land Title Classifications Explained, Once and For All! for more information.Now there is a fourth form of title that is commonly referred to as an ‘LMAP title’. Although the term ‘LMAP’ refers to a project that was commenced by the World Bank in 2002, and the completion of the nationwide titling project has since been transferred to other agencies, the ‘LMAP’ acronym has stuck.Over the past 3 weeks, we have explored what an LMAP title is, the benefits- have taken a look at the issuing and application process, and the status of the titling project throughout the nation by Government agencies. This week in the fourth and final part of the LMAP series we will delve into commonly asked questions regarding LMAP.Do I need to spend money when applying for LMAP?Technically, you aren’t required to pay for the service fee when the Government hasn’t created the cadastral map and GPS coordinates (the LMAP titling process) in the area that you reside, as it is their duty to inform you after this ‘titling process has been completed in your area.However, if you apply for LMAP after you obtain your land title, and the process has been completed in your area, you will be charged a 4% tax fee - the same as for property transfer. This fee will apply whether you are applying for LMAP from a soft title or a hard title property.How do I know if my area has been subject to  LMAP titling process?In order to know if LMAP title is available in your area, you can go and check with the local authority such as the village or commune chief. These officials should be informed because the Ministry of Land Management, Urban Planning and Construction (MLMUPC)- who are the administrative body- need to have cooperation with these local officials during the LMAP titling procedures, such as the measuring of plot of land.In addition, if you are looking for more specific information you can check at the relevant Cadastral Officials office.How do I know if my LMAP title is genuine?Having obtained an LMAP title in the land transfer process does not prove that it is genuine. You are better off to check with the Cadastral Office in your district or province in order to protect yourself from any scams.Can foreigner obtain an LMAP title?Although the law does not technically allow foreigners to own land, other than in co-owned buildings and subject to certain provisions, there are other effective ways to control land in Cambodia for business or personal use. It is a perfect time now if you look for land for sale in Phnom Penh, land for sale in Siem Reap, and land for sale in Sihanoukville.Remember, that in the case of any questions regarding the LMAP process and specifics of the application or your eligibility, we strongly recommend that as a landowner you should obtain independent legal advice to ensure both certainty and clarity.Over the past four weeks, we have attempted to give a generic overview of the LMAP process, as essentially it is the most secure mechanism for land ownership. If you missed any of the other parts of this series please read them on https://www.realestate.com.kh/news/LMAP-Titles-Explained-Part-1/ Learn more how foreigners can own land in Cambodia and the land title transfer process in Cambodia on Realestate.com.kh

Phnom Penh, Cambodia- This morning, the forum and signing ceremony of the CEO KT Pacific project with renowned construction company Sichuan Huashi Group took place at the Intercontinental Hotel, Phnom Penh, with Realestate.com.kh invited as the exclusive media of this morning’s pivotal event.The recently announced international commercial housing project, located in 7 Makara district, is the result of a joint development venture between KT Pacific Group and LiXin Group.This morning’s event was named Cambodia - China “The Belt and Road” Entrepreneur Cooperation Summit Forum. This name derives from one of the key focuses of the event which is namely, the One Belt, One Road PolicyAs discussed at this morning’s forum, once this policy initiative is completed and operational, it will establish a direct economic corridor- with both land and maritime routes and will have a major positive impact on the most critical trading economies in the world. The Kingdom will be a major benefactor of this policy initiative as it lies in the heart of the One Belt, One Road.Today, Phoueng Sophean, State Secretary of the Ministry of Land Planning and Construction of Cambodia, many entrepreneurs and well-regarded market experts came to the forum to exchange ideas and discuss further strategy to strengthen the links between enterprises in Cambodia and Cambodia.After the official start of the event, Mr. Jingsi Zhang, Vice President of Sichuan Huashi Group and Mr. Kevin Hsu CEO of LiXin Group, delivered a speech of appreciation and shared their optimism regarding CEO KT Pacific project and the development of the real estate market in Cambodia.Mr. Hsu said: "Under the leadership of Prime Minister Hun Sen, Cambodia's strong relationship with China has made a more stable political environment and enabled higher economic growth than their neighboring countries.”"GDP is growing by 7% annually, making Cambodia the ‘ASEAN Star’- with policies that welcome foreign investment so that foreign-funded enterprises can own one hundred percent of the shares. Furthermore, there are no limits on foreign exchange, and trading in a stable USD economy is attracting many international investors and investment opportunities."“Due to Cambodia's development and potential and in the face of such excellent investment conditions, LiXin Group naturally wanted to be a major part of the investment in Cambodia.” "This joint venture consisting of two prominent development companies, and the new addition of Sichuan Huaxi Group to manage the construction of the CEO KT Pacific project, is the pinnacle of ingenuity and demonstrates an international vision of all the companies involved," he concluded. The CEO KT Pacific project is Southeast Asia's first landmark international business development, from the physical appearance, the interior modeling and the top floor’s three -dimensional steel cloud installation art on the top floor, creating a majestic skyline.Further to this, there will be large conference centers and conference rooms for up to 85 delegates to conduct business and ultimately CEO KT Pacific is specially designed for business people who are stationed in Phnom Penh.In addition, the top-floor leisure clubhouse offers a 360-degree view of Phnom Penh and the project hosts a top floor running track- perfect for the fitness of fast-paced business professionals.This majorly futuristic and unique addition to the present architectural landmarks- more than that of other parts of Southeast and is designed to reflect the future direction of Phnom Penh, namely by being a premier five-star business hub. Find out the latest real estate news on Realestate.com.khFind out real estate for sale or real estate for rent on Realestate.com.kh

Demand for affordable residential housing within Phnom Penh and its surrounding urban areas has already proven to be a swiftly developing trend in the real estate market in 2017, anticipated by market experts to continue to prosper throughout 2018.Already, many developers have responded to this shift in demand by proposing and constructing more modestly priced housing projects throughout the capital’s suburbs.One of the areas demonstrating significant potential for the development of low-cost residential housing projects is Prek Pnov- situated Northwest, and approximately 15 kilometers away from central Phnom Penh. This area (Khan) is divided into five key districts (Sangkats) namely, Ponhea Pon, Prek Pnov, Samraong, Kouk Roka and Ponsang.Market experts have voiced their views on the seemingly untapped potential of this area, voicing that Prek Pnov is an area that developers and investors alike should seriously take into consideration when looking at where to construct their upcoming projects.Mr. Oung Mean, a local independent plot land agent, said: “Prek Pnov is an economic and tourism area. Among all land surrounding the city, Prek Pnov is relatively cheaper.“Compared to areas such as Chamkar Doun where one piece of plot land averages $15,000 dollars an amicable plot land investment in Prek Pnov averages at approximately  $7,000 dollars,” he continued.Ultimately with similar land to that of Koh Pich, Mr. Oung believes: “Prek Pnov will be likely to become the second Diamond Island after it reaches its full development potential”.Dr. Kim Heang, President of the Cambodian Valuers and Estate Agents Association, (CVEA) agreed with the positive outlook of the area: "Compared to all suburbs around the city, Prek Pnov is the most attractive location for low-cost housing projects, thanks to its relatively low land price."At present, low-cost or affordable housing projects are in high demand among lower-middle and middle-income family and Prek Pnov- being within a distance from the Phnom Penh that still allows ease of accessibility,  is the best location for developers to build projects of this kind,” he continued.Dr. Kim added: "Over the past few years, developers have built Borey projects within the $80,000 to $100,000 price bracket, and those who could afford this price have already bought them."He believes that projects that are within the $30,000, to $40,000 bracket are reflective of what the majority share of the local market can afford, based on income, and therefore Prek Pnov offers potential in this respect.Although demand for affordable residential housing is indisputably rising, so too is the demand for plot land that enables investors and developers alike to find inexpensive land to either solely invest in- or host their development projects.Commenting on the plot land potential of Prek Pnov, Dr. Kim said:“If you are looking to buy plot land for investment or development, you should purchase in Prek Pnov, given that the city’s development trend has proven to be focussed on the Northern areas of the capital".However, Dr. Kim also expressed the paramount importance of having secure ownership rights,warning:"If the land in Prek Pnov has no hard title- do not purchase it."This advice is a general consensus amongst market experts, as in absence of hard title ownership, the purchaser does not have any legally enforceable rights to their land and therefore no security in their investment should any dispute arise.Looking further at the investment potential of plot land in general, Mr. Cheng Kheng, Chairman of Cambodia Properties Limited (CPL), said: “Plot land is a prime investment opportunity- as long as sellers have a clear plan for their projects."Sellers of plot land should ensure they provide basic facilities such as sewage and electricity systems, as well as ease of road access and other necessary infrastructure if they want to ensure the successful sale of their project to customers.”However, Mr. Cheng explained that in reality, many developers will promise buyers that these infrastructure frameworks will be built, but in many cases, this does not take place.He continued: "For example, they [developers] will promise to build 200-meter roads when announcing to sell their projects to buyers, but after they sell their projects, they end up only building only 50-meter roads,” he said.Mr. Cheng urges developers to perform their due-diligence and keep their promise with regard to their projects, adding that plot land can significantly help lower-income families to obtain a permanent residence when they can not afford more expensive residential Borey projects in central Phnom Penh. Ostensibly, demand for plot land in Prek Pnov is rising remarkably at the moment.Mr. Mann Chandy, CEO of Premium Housing Co., Ltd, invested in four plot land projects in Prek Pnov. Speaking of his investment, Mr. Mann said: “With the rising demand for plot land in this area, 70 percent of my project has already sold."Mr. Mann stated that his plot land project- with a starting price of $2,700 dollars for the size of 5 square metres by 20 square meters of plot land, is the most popular among low and middle-income purchasers.According to the latest Housing Market & Outlook Report 2017 by Vtrust Appraisal, Prek Pnov, since 2001 has only seen the commencement of 9 major landed house projects and 12 sub-projects, amounting to just over 6,000 units.There were only two completed projects when the report was released at the end of 2017, totaling 304 units. However, another 3,720 units are expected to finish by the end of the first half of 2018, which exemplifies a significant increase over a short period of time- aligning with the projections of other market experts.Although there are presently very few projects in the area, Mr. Mann amongst other industry insiders is optimistic that Prek Pnov, as an emerging suburb, will experience expeditious development over the coming years, due to the affordability of land, accessibility to central Phnom Penh, and - as Dr. Kim also alluded to- the undeniable trend of the capital’s rapid expansion towards the North.Interested in investing in plot land? Search our current plot land for sale in Cambodia on  Realestate.com.kh!

At the Cambodia Real Estate Show 2, Mr. Li Min, a well regarded expert with over 20 years experience in the real estate industry shared his views regarding the strengthening of China and Cambodia’s diplomatic and economic relations, the impact that One Belt One Road Policy will have on the Kingdom and his optimism and predictions regarding Cambodia’s economy going forward.In regards to the relationship between China and Cambodia, Mr. Li said “China and Cambodia have a long history of friendship. According to statistics, the friendship has a history of more than 1,000 years.” In particular, Mr. Li believes that with the support of King Norodom Sihanouk after President Xi proposed the "One Belt, One Road Policy” in 2013, the friendship between the two nations has reached an all-time high.Mr. Li further believes that with the "One Belt, One Road Policy", China's political, economic and cultural ties with the Kingdom will become closer which will have a positive diplomatic and economic effect on Cambodia in the years to come.2018 will be another key demonstration of the positive condition of relations between the two nations as there will be many domestic and international events happening in Cambodia according to Mr. Li. Further to this, next year will mark the official establishment of the two nations diplomatic relations- which will be a major event.Mr. Li, is also the CEO of Prince Real Estate Group (Cambodia) which is a large-scale enterprise, that has brought the experience, technologies, talents, and capital from China's real estate sector over the past 20 years, to Cambodia.The developers have made a proactive effort since establishment in the Kingdom in 2015  to understand the demands of the local market and have adapted their projects accordingly, integrating affordability into their host of successful projects.In terms of Cambodia’s economic development as a whole, Mr. Li said that “Cambodia has shown a swift and overwhelming level of growth from the year 2000.”2010, especially has been a catalyst in that respect as the overall economic structure in Cambodia is experiencing a full range of improvements- especially in the real estate market according to Mr. Li. With the introduction of the 2010 Law on Providing Foreigners with Ownership Rights in Private Units in Co-owned Buildings- which was the first move to giving foreigners any ownership rights in the Kingdom, namely in the second floor or higher units in condominiums, Mr. Li. believes this law change has been a very positive move.“From 2011 until now, this policy has attracted a large number of foreign investors, playing a significant role in real estate market." Mr. Li said. He further elaborated that Cambodia's construction ánd cultural environment has been continuously improving with growth in tourism from China and all across the world, and he expects that to increase in the coming yearsUltimately Mr. Li believes the real estate market in Cambodia is currently the best among the entire ASEAN countries. "We are very optimistic about the future development of the real estate industry in Cambodia."To learn more about Mr. Li's expert views regarding the Kingdom's economic growth, “One Belt One Road Policy” and other projects in the pipeline, please watch the full video above.Interested in learning more about the One Belt, One Road Policy? Listen to what other market insiders have to say about the initiative.

New York Times has released their starter kit for escaping into the world, namely, through releasing their renowned list of the ‘52 places to go in the world’. The beaches of Sihanoukville ranked at number 13 on the list amongst other top destinations such as New Orleans in Louisiana taking the top spot, followed by Colombia, and  Basilicata in Italy. - see Realestate.com.kh's The Ultimate Guide To Sihanoukville for a complete overview of Sihanoukville.As the list eluded to, Cambodia has been notoriously famous for it's Angkor Wat Temples in Siem Reap - which still remain as the biggest tourist attraction in Cambodia. In 2015 Angkor Wat was labeled by Lonely Planet as the number one tourist destination in the world.However, adorned with white sand beaches, accessible islands, a host of developments and new infrastructure initiatives in play- allowing for ease of access to the seaside province- it seems that Sihanoukville's tourism potential is garnering well deserved global attention.Sihanoukville International Airport has been undergoing major renovations, whilst the construction of a new terminal promises to increase capacity to 500,000 passengers per year. Once completed, Sihanoukville Airport is set to be the kingdom's largest airport. Already new flight routes have been added, with ongoing international flights from China, Vietnam, and Malaysia.Further to this, Grand Union Group, the developer of Dara Sakor Seashore Resort Casino in Koh Kong received permission in 2017 to build another airport. Although Koh Kong is not directly in the province, it still represents another key point of access which is within a few hours driving distance to Sihanoukville.Construction is anticipated to commence on this airport in early 2018 and will involve a total investment of 500 million USD.In terms of the hotel scene- both on the shoreline and the multitude of surrounding islands, including the popular Koh Rong, Koh Rong Sanloem, Koh Russey and Krabey Island- this has exploded over the last few years.Of special note is Six Senses on Krabey Island, a mere 20-minute boat transfer south of Sihanoukville, and Alila Villas on Koh Russey, with both resorts opening in 2018. Both will offer the full island experience, with snorkeling, diving, and all other beach amenities for tourists to enjoy.  Besides hotels, the potential for mixed-use and residential developments has caught the eye of major international developers. D’Seaview, Blue Bay, The SeaGate Suite, Royal Bayview and Sunshine Bay are amongst the major projects which are currently under construction- and will bring luxury facilities, and a new skyline to the province.In addition, infrastructure initiatives such as a direct highway between Phnom Penh and Sihanoukville improved internal roads, port expansions and Cambodia's largest Special Economic Zone (SEZ) are all factors contributing to Sihanoukville's status as a 'boomtown’ for attracting both tourists and investors alike.   Search properties for sale in Sihanoukville and current properties for rent in Sihanoukville!

In the Kingdom, traditionally there are three major classifications of land title which are utilized throughout the country. The ownership titles that are commonly referred to are namely, hard title, soft title, and strata title (enabling for foreign ownership within condominiums- subject to certain conditions). Each title confers different rights and securities.Now there is a fourth form of title that is commonly referred to as an ‘LMAP title’. Although the term ‘LMAP’ refers to a project that was commenced by the World Bank in 2002, and the completion of the nationwide titling project has since been transferred to other agencies, the ‘LMAP’ acronym has stuck.Over the past two weeks, we have explored what an LMAP title is, the benefits and have taken a look at the issuing of LMAP, associated fees and the status of the titling project throughout the nation by government agencies. This week in part 3 we will explore an overview of the application process thanks to Realestate.com.kh. The LMAP Application Process OverviewApplying for an LMAP title involves directly communicating with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) and the relevant cadastral officials. This is due to the fact that this title will be registered and recognized at a national level. An LMAP process takes around 12 weeks to process for land that has already been indexed on a cadastral map - see Realestate.com.kh's Land Title Transfer Process in Cambodia for more information.Further to this, the application process involves your own input, as a landowner, to submit the correct documentation and application form to the MLMUPC office.These necessary documents include; any receipts or letters, or agreements that prove ownership for land that does not already have a title, or certificates of ownership, title, and the sale and purchase agreement- for land that has already received a form of title.Additional documents such as an; identity card, family book, birth certificate, and marriage certificate (if this is applicable) are also necessary during the application process.Once submitted the application will be checked by the MLMUPC and designated land official will examine all the documents to check the legitimacy and legality of them.During the application, the MLMUPC will determine whether the actual land is private property. In case that there are conflicts amongst landowners, the relevant land official can raise it to the relevant local committees to settle the conflicts in place, without bringing their case to the court.However, in this case, you will be eligible to pay a stamp duty tax- which we will explore further in the fourth and final part of the LMAP series- where we will also delve into commonly asked questions.Remember, that in the case of any dispute or questions regarding the LMAP process and specifics of the application, we strongly recommend that as a landowner you should obtain independent legal advice to ensure both certainty and clarity. If you missed the part 1 or part 2, of this article, we invite you to please read them now!

Toul Kork is reaching the point of being a fully developed area, in terms of residential and commercial real estate development, whereas Sen Sok has enjoyed a rapid series of growth in the same aspects. The two districts lie in Northwest of central Phnom Penh and have attracted a range of residents and families in middle to high-income brackets.Improved infrastructure has given rise to the development changes in Toul Kork and a rapid surge in land prices over the preceding years. This growth has also contributed to neighboring areas- such as Sen Sok.Due to this fact, residential growth can be seen in  Sen Sok which has attracted a host of new residential developments. According to the 2017 report on the housing market from VTrust Appraisal,  Sen Sok stands second to Pou Senchey district in term of landed housing supply. Although Sen Sok is on the face of it, is a relatively small district, it has a very large housing supply -one of the key reasons being the flow-on effect from neighboring Toul Kork's boom.  Mr. Sorn Seap, CEO of Key Real Estate, said: “Toul Kork and Sen Sok can be considered as 'two brothers' especially Sangkat Boeng Kak 1 & Boeng Kak 2 in Toul Kork and Sangkat Phnom Penh Thmey in Sen Sok which share one border and have very strong development potential.This potential significantly drives the growth to Sangkat Khmuonh where there are many developments such as the Camko City project and Borey projects including; Borey Piphup Thmey, Borey Vimean Phnom Penh, and Borey Angkor Phnom Penh. Further to this, the Sangkat is within close proximity to key amenity developments such as Aeon Mall 2, Makro Mall, international schools, and also large-scale condominium projects.Mr. Sorn added that Toul Kork- an area transforming itself from a majorly residential area to a hub hosting mixed-use developments, needs Sen Sok in order to keep growing. This need is reciprocated by Sen Sok, as the developing area, needs Toul Kork to better connect itself to the city center so the area can continue to grow. Ultimately, both areas will need to rely on each other to solidify future development at a continuous pace.Commenting on the suburbs co-dependence, Mr. Touch Bin Beakna, Valuation Manager at Key Real Estate, said: "Both districts are potential areas for investment. However, the fact is that Toul Kork is more developed, more populated, and the value of the property is more expensive compared to Sen Sok. This is due to the suburb being a new developing area, with more vacancy for construction, more plot land, and a price that is more affordable for families.”Mr. Touch, further believes the well-connected infrastructure between Toul Kork and Sen Sok is one of the major factors in garnering more investment opportunities for both local and international investors. He further explained that Sen Sok has developed a few years slower than Toul Kork, but in regards to in-demand areas in the suburb, the property prices can be comparable to that of central Phnom Penh areas; for example, Aeon Mall 2. However, in general, both land price and availability of land in Sen Sok are more affordable and available compared to Toul Kork.If you are interested in the investment potential of Sen Sok, Please read our article: Investing in land in the Sen Sok District For those who aim to invest in houses or land in Toul Kork or invest in a new home in Sen Sok, in the immediate future, Mr. Sorn urges that they need to keep track on the recent market and especially their own budget plan. At present Key Real Estate is working within Toul Kork and Sen Sok and the company aims at helping both local and international buyers to be fully aware of the value of each type of property- in particular locations, and offer them exactly what they need within their individual budget plan.Key Real Estate aims to sell the companies confidence and knowledge first to the clients in order to give them better and more reliable quality service provided by the agency.  With all the staff fully trained, Key Real Estate is one hundred percent sure they can utilize their knowledge and experience- especially regarding the suburb brothers to serve their clients with the highest quality service.Ultimately Key Real estate has the vision to provide the best quality services when it comes to property valuation in Cambodia and also aims to contribute to Cambodia’s ever-growing real estate sector.Looking to learn more about investment potential in Toul Kork, please read our article Toul Kork, the new Chamkarmon?Click here for current real estate for sale in Toul Kork and current real estate for sale in Sen Sok.

It is undisputed that Cambodia has experienced a period of rapid economic and real estate growth over the preceding years. With foreign direct investment (FDI) pouring into the country- promoting the swift development of core industries such as tourism, real estate, and construction, Cambodia has been seen by many as the development frontier of Southeast Asia.This potential has been realized- in particular by international developers and investors alike who have considered neighboring members of the Association of Southeast Asian Nations (ASEAN) such as Thailand and Vietnam before making the investment plunge into Cambodia’s real estate market.Dr. Sopon Pornchokchai, President of AREA Agency for Real Estate Affairs in Bangkok and who has worked in international real estate research and valuation since 1982, voiced his views regarding the investment preference saying: “Cambodia is still a relatively new market and therefore has the potential for an attractive return on investment compared to the likes of Thailand and Vietnam.”“For investors, it is a good idea to invest in less developed markets- like Cambodia for high returns on investment, even though it may seem less secure due to the market still developing. "In more developed markets such as Thailand and Vietnam, return on investment is lower than that which is seen in Cambodia,” he said.However, although Cambodia’s market is still developing, steady economic growth can offer security to potential investors.Elaborating on this point, Mr. Rami Sharaf, Member of the International Advisory Council, APCO Worldwide said: “The major attraction for foreign investors when considering whether they should invest in Cambodia is the ASEAN-member nation’s phenomenally steady economic growth.” Although official statistics on Cambodia's total economic growth in 2017 have not been released yet, according to Asian Development Bank's updated annual economic publication, Asian Development Outlook (ADO) 2017 released in late September, predictions denoted slightly higher economic growth of 7.1% for both 2017 and 2018 respectively.This is in comparison to a 6.9% total economic growth in 2016- which exemplifies the point made by Mr. Sharaf.Looking at the views of current international developers in the Kingdom, Mr. Kevin Hsu, CEO of LiXin Group, who have launched their first major mixed-use development- CEO KT Pacific, in conjunction with fellow developers KT Pacific, said: “Cambodia is a financially liberal country and therefore the restrictions on foreign exchange are also less limited than the neighboring countries."With the close relationship between China and Cambodia, Cambodia proves to have much more stable economic development than Vietnam and Thailand,” Mr. Hsu added.Looking at the three nation’s respective capital cities Hanoi and Bangkok have all reached a more mature stage with very limited return on investment."However, Phnom Penh is still in the earlier stages of development, therefore investors can reap the benefits of return on their investment, ”Mr. Hsu said. He further believes that taking into account critical considerations such as construction, building materials costs and housing prices, pricing in Phnom Penh is about one-third of Bangkok and half of Hanoi.Delving further into Phnom Penh’s investment potential in comparison to other major cities within the Kingdom, Mr. Hsu highlighted that when comparing real estate in Siem Reap and Sihanoukville, Phnom Penh trumps as it is Cambodia's administrative and commercial center, where all major state agencies are located.This, he believes, is a critical factor when deciding where to invest.“There are also 31 embassies here in Phnom Penh and the capital is rich in resources. Throughout history, the most successful real estate developments are all centered in the capital, therefore the risk of investing in the capital city is smaller," Mr. Hsu concluded.Mr. Li Min, CEO of Prince Real Estate Group (Cambodia) believes the introduction of 2010: “Law on Providing Foreigner’s Ownership Rights in Co-owned Buildings" has attracted a vast amount of foreign investors and played a significant role in the real estate market’s growth."The overall economic development in Cambodia has shown a swift and dramatic upward trend from the year 2000. Especially since 2010, the overall economic structure in Cambodia is undergoing a full range of adjustments, especially in the real estate market,” Mr. Li said. "At the same time, Cambodia's basic construction and cultural environment have been continuously improving. The real estate situation in Cambodia is currently the best amongst all ASEAN countries,” he added. In terms of the future development of Cambodia as a whole, Mr. Li believes this will be primarily driven by the real estate industry- which will have a major flow-on effect to enhance the quality of infrastructure and construction sectors nationwide.2018 has officially opened its doors- after another major year for Cambodia’s real estate market, and with future optimism expressed by both market experts and major developers, it is likely that the nation's investment potential will remain superior compared to its closest ASEAN neighbors.Favourable and welcoming foreign investment laws, stable predicted economic growth and the potential for higher return on investment in a still-developing market are all factors which will continue to navigate the Kingdom’s real estate growth through the upcoming years. Click here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh Interested in learning more about foreign land ownership mechanisms? Read our sneak preview extract from our Realestate.com.kh Cambodia Real Estate Investment Guide 2018 in Issue 5 of our Cambodia Real Estate Magazine from page 42- just click below!

In the Kingdom, traditionally there are three major classifications of land titling namely hard title, soft title, and strata title.  Each different title confers different rights and securities to landowners. Now there is another land title known as the LMAP title- which is the strongest form of land title in Cambodia.Last week in part 1 we examined what an LMAP title is and the benefits for landowners in obtaining one. This week in part 2 we will take a brief look at the issuing of LMAP, associated fees and the status of the LMAP titling throughout the nation thanks to Realestate.com.kh.Issuing LMAP titles and associated fees:In general, the issuing of LMAP title is the responsibility of the Ministry of Land Management Urban Planning and Construction (MLMUPC) with no specific service fee to be charged for the LMAP title itself. However, if you apply for LMAP, you will still have to pay the transfer tax which is generally around 4%, that is applied when obtaining a property title.If you are interested in learning more about land titles and how they subsequently work, please check out our article: land title transfer process in CambodiaIn addition, if you are required to pay property tax, or other taxes (which is dependent on the area your land is in), for example- annual property tax, you need to pay all those taxes before the LMAP title can be issued.LMAP title availability:Another major factor to consider is that the LMAP titling process is yet to be completed throughout the entire country by the MLMUPC. This process involves GPS coordinates being ascribed to every land plot in the country, with the result being a cadastral index map showing land boundaries and land registration data.  At present, it is estimated that 80% of LMAP titling of land plots has been completed.This gives rise to three possible scenarios;-    Firstly, if the MLMUPC is presently undergoing the necessary LMAP titling process in your village or area where you live in, this means you only need to follow what your local authority informs you to do once the project is completed. It is their obligation to communicate with you.-    Secondly, if LMAP titling has already been completed in the area that your land resides in, and you have not applied for the title- do not worry, this can always be applied for a later date.-    Finally, if the area your land resides in hasn't been subject to the LMAP titling process by the government, unfortunately, you cannot apply for an LMAP title. However, you can apply for a hard title in the meantime. This is the strongest form of land title, after LMAP and will still give you legally enforceable rights over your land.Look out for part 3 next week where we take a step by step breakdown of the actual application process for the obtaining your LMAP title and all the documents you will  need.If you missed part 1, make sure to check it out on Realestate.com.kh/news.

Following an announcement by Borey Peng Huoth Group in July 2017 regarding the development of a mall, namely PH Diamond Mal,  which is to be constructed in the Chak Angre Krom commune in 2019, the developers have officially announced a second, larger-scale mall project- PH Eco Mall estimated to be completed in 2021.In comparison to PH Diamond Mall, which will span over 2.4 hectares, PH Eco Mall will span over 6 hectares of land. The new project will be built in the Grand Star Platinum Project within the Boeung Snor Area of Borey Peng Huoth along National Road Number No. 1, 2 kilometers from Preah Monivong Bridge. The project is worth an estimated total of $200 million.Oknha Thai Mengly, CEO of Borey Peng Huoth Group, said that the PH Eco Mall project will be a groundbreaking project and will provide both national and international customers with a premium shopping experience- especially considering the shopping mall is prioritizing creating an eco-friendly and fresh environment for shoppers.In addition, this shopping complex will incorporate the traditional Khmer style by integrating Khmer culture through popular and modern lifestyle amenities.The mall itself will cover 26,800 square meters of land, solely dedicated to the mall building, and a further 90,000 square meters available for rent- as well as an abundance of parking space, which can hold up to 5,000 cars and motorcycles.The PH Eco Mall will make the developer’s existing Grand Platinum Project become a more modern and enriching hub, adding to international schools that have operated since the mid-2017. Find out property for sale in Cambodia on Realestate.com.kh

In the Kingdom, traditionally there are three major classifications of land title which are utilized throughout the country. The ownership titles are namely, hard title, soft title, and strata title (enabling for foreign ownership within condominiums- subject to certain conditions). Each title confers different rights and securities. Now there is another land title, known as an LMAP title available and can be classified as a form of issuance of land title for property purchasers and owners.In order for you to understand the relatively new concept of the LMAP title, this week in part 1 we explore what an LMAP title actually is, the benefits and will begin to explore how these will apply to you, thanks to Realestate.com.khWhat is an LMAP title?A titling system, called LMAP (Land Management and Administration Project), is a certificate of land title. It is a project that was first introduced in Cambodia in 2002 by the World Bank after government approval, with the goals of improving land tenure security through registration and issuing titles- particularly for vulnerable property owners. The Ministry of Land Management Urban Planning and Construction (MLMUPC) is the implementing agency in the Kingdom for this process.What are the benefits of an LMAP title?LMAP is the strongest, safest and most updated type of land title- due to the face that GPS coordinates are in the process of being registered for all land plots in the country.Prior to the LMAP title establishment, the MLMUPC had a major need for dispute resolution processes for land titling, due to lack of clarity regarding the boundaries and other contentious areas of land ownership. Ultimately the goal of the MLMUPC is to establish a land administration system which is both efficient and honest.For landowners who now possess an LMAP title, this means their plot of land has been clearly measured by the relevant cadastral officials, the borders of their land are agreed upon and thumbprinting has taken place- which adds a layer of security to property ownership.The LMAP title can effectively give the property owner certainty regarding all aspects of their property and is a tool for preventing conflicts such as boundary dispute and between property owners in the future. Further to this, LMAP is a 100% legal title for hard title owners to obtain.Look out for part 2 next week where we take a step by step breakdown on how to apply for LMAP title, relevant fees, and answers to answer some key questions on the LMAP titling process.Looking to learn more about how land titling system works in Cambodia? Check out our complete Cambodia title  overviewInterested in investing in land, take a look at ourland for sale in Phnom Penh available

Amid rising property prices in central Phnom Penh, many developers have sought new options for hosting their residential development projects. Por Sen Chey - the largest emerging district - has, therefore, become an attractive choice for developers to build low to mid-end residential projects, due to the area's comparatively low land prices - see Realestate.com.kh's How to invest in land for sale and maximize your profit for more information.Covering the majority of the western part of Phnom Penh and located approximately 10 km southwest of the city, Por Sen Chey district is the largest of all 12 districts of Phnom Penh and home to an estimated 184,000 residents.Por Sen Chey is administratively subdivided into 11 communes (Sangkats) namely; Chaom Chao, Kakab, Kantork, Snao, Trapeang Krasang, Kambol, Phleung Chheh Roteh, Samraong Kraom, Boeung Thum, Krang Thnong and Ovlork..According to the latest Housing Market and Outlook Report 2017 by Vtrust Appraisal, Por Sen Chey has seen a remarkable increase in borey and other residential projects since 2001. The area has 94 major developments and 111 smaller- scale projects currently being constructed, with 58 of these already completed. These projects, once completed, will amount to a combined total of approximately 30,000 available units. However, so far there are 16,000 units already completed- while more than 3,500 units are expected to reach completion within the first half of 2018.Mr. Hoem Seiha, the author of the report, said: “Por Sen Chey has experienced rapid growth over the preceding years in terms of both residential and industrial projects. With such a high population density, the area has more factories and residential projects than any other districts in Phnom Penh."Mr. Hoem continued: "Many low to mid-end residential projects have moved to the area thanks to the multitude of available large land sections that can be used for new development."“However, with the influx of residential projects, land prices in the area have increased sharply. In general, land for sale in Por Sen Chey grew 31 percent year on year between 2013 and 2015, whilst, the two bustling communes of Chaom Chao and Kakab grew approximately 10 percent or less each year," Mr. Hoem added. He further believes that the lower annual increase of price in these two key communes was due to the fact that prices were already high compared to the rest of Por Sen Chey.In addition, Mr. Hoem explained that in terms of land values and major business prospects, Kakab and Chaom Chao stand out due to their strategic locations- such as their coverage of prime streets which are ideal locations for businesses to establish.Kakab commune is immediately adjacent to Teuk Thla, part of the immensely popular Sen Sok district, while Chaom Chao is in the direct path of Phnom Penh International Airport and covers some parts of the capital’s arterial roads, namely Russian Boulevard, National Highway 3, and National Highway 4.Although Kakab shares a similar market value as Chaom Chao, the commune’s close proximity to central business hubs in the capital makes Kakab stand out comparatively in terms of land prices and commercial demand.Land prices in Kakab commune continue to grow at approximately 10 percent annually, with prices ranging from an average of $380 dollars per square meter in 2013 to $490 per square meter in 2016. However, in undeveloped areas, low prices such as $70 per square meter can be found-  but can peak up to $2,080 per square meter along prime streets and in bustling commercial hubs, according to Mr. Hoem's report.Commenting on Por Sen Chey’s residential project growth, Dr. Kim Heang, President of the Cambodian Valuers and Estate Agents Association (CVEA), said: “Por Sen Chey is an area sandwiched between both Phnom Penh's center city and suburbs and many developers have selected to build residential projects priced between $30,000 and $70,000 dollars. This price range is most suitable for lower-middle income families, among whom are [for example] company staff and civil servants with a suitable salary.”Dr. Kim added: “Por Sen Chey's target market and residents differs from that of Sen Sok, which is predominately for middle-income families, while areas such as Toul Kork, Prampi Makara, and Chamkarmon are for families that sit within a higher income bracket".One development underway in the Kakab commune is Borey Suncity, a project launched in November 2017 and is expected to complete construction by mid-2020. Mr. Xu, General Manager of Borey Suncity, said: “The reason we chose Por Sen Chey to host our development is that the area is in close proximity to Phnom Penh International Airport- therefore more easily connected to the world and residents will have ease of accessibility with the metro line opening in next April.”Mr. Xu added: “Our project will be a great success, thanks to its’ location in an area with perfect infrastructure- suitable for long-term living. Cable burial has been completed and roads are in good condition. Nearby are surrounding facilities including Korean international schools, healthcare centers, and Parkson shopping mall. Mr. Xu added that he is looking to target mainly local investors for his project.Por Sen Chey district invariably is rapidly developing which can be in part due to the influx of newcomers in search of job opportunities within Phnom Penh. With developer interest in the area rapidly rising, and relatively inexpensive plot-land still available in many of the communes, it is likely that this district will continue to flourish at a rapid rate in 2018.Looking for  property for sale in Por Sen Chey or property for rent in Por Sen Chey on Realestate.com.kh!

The development of high-end residential projects has been a priority of both local and international developers alike over the preceding years, with a host of condominium and big-budget Borey projects concentrated within prominent central areas of Phnom Penh.However, according to local real estate experts, 2017 as a whole has seen a major shift in demand- from luxury residential developments, towards housing that is more affordable for those in lower-middle income brackets and in particular the local market - see Realestate.com.kh's Government’s low-Cost Housing Policy for more information.Meanwhile, these experts are optimistic that this shift in demand that has risen drastically in 2017 will continue to flourish in 2018 and proceeding years. Therefore, developers who have already recognized and responded by constructing more affordable projects are more likely to achieve success in their developments.Hoem Seiha, Director of Research of VTrust Appraisal, has recently released The Housing Market & Outlook Report 2017. The report states that the Kingdom's property market in 2017 performed well- especially low-price housing projects- while the higher-priced developments decreased in both launches and sales.Discussing his report further, Mr. Hoem said: “Due to slow demand for luxury housing, developers have shown interest in the local market and responded by supplying housing priced between $30,000 and $60,000. For example, Borey “New World” is only priced in the $40,000 to $60,000 price bracket. This price range is the most popular among middle-income families- especially those who have recently married.”He continued: “Every year there are many new couples who need housing to work and live in Phnom Penh. These [recently] married couples cannot afford housing priced more than $60,000 dollars.” Therefore Mr. Hoem believes that housing options that are under this price threshold are the only options for these newly established families.Echoing Mr. Hoem’s view, Mr. Cheng Keng, Chairman of Cambodia Properties Limited (CPL), said: “Over the past few years, developers have focused on luxury housing priced over $80,000, but now demand for this type of housing has slowed. Mr. Cheng believes that the majority of the Cambodian people sit in the middle-income bracket and believes that now is the right time for developers across the board to focus on affordable housing developments. “By doing so, they will stand a high chance of a success for their projects,” Mr. Cheng added. In the “Consumer Sentiment Survey” conducted by Realestate.com.kh, which was the largest real estate survey to be conducted in the Kingdom, responses from over 5000 international and local respondents regarding buying power and affordability, reinforced the views of Mr. Hoem and Mr. Cheng. One particular example is that in terms of buying power, more than half of the survey respondents (67%) had less than $70,000 dollars to spend on a property.Further to this, when individuals were asked “How affordable is housing in Cambodia?” 34% of respondents referred to the local property available as "moderately unaffordable”. and 28% stated “affordable”-’ with the remaining respondents believing the housing markets to be moderate to very affordable.The inference made from these survey results and further analysis is that property in Cambodia is generally affordable for international residents and investors whereas it is still seemingly unaffordable for Khmer nationals.In light of this shift in demand, many developers have already begun constructing more affordable developments to adapt to the needs of the local market. One example of this is Borey Maha Sen Sok, one of Creed Group’s biggest residential development projects in Cambodia, which is among one of the most successful projects targeting middle-income families.Ms.Cheng Sokha, Deputy Sales and Marketing Director of Creed Group, said: “Borey Maha Sen Sok started in early 2016 and is expected to be completed by the end of 2018. Our project starts with $49,500 dollars and has proven very successful with 95 percent of the project being sold out”. Ms. Sokha believes the Creed Group has seen the demand for affordable housing amongst middle-income families, which was the purpose of the developer's launch of the project.Cambodia’s total population is expected to increase from 15 to 19 million between now and  2030 and in Phnom Penh and its urban areas from 4 to 7 million- with 800,000 urban homes estimated to add to current housing stock. This prospective population increase solidifies the true extent of the demand for affordable housing.Mr. Chea Sophara, Minister of Land Management, expressed support for the creation of more affordable housing to address the capital’s rising population figures. During the National Housing Forum held in June 2017, Mr. Chea said: “The Ministry of Land Management, Urban Planning and Construction (MLMUPC) is paying more attention to seek ways for providing affordable housing for lower-middle people across the nation to obtain housing with comfort, dignity, and safety.”The MLMUPC is working with the Ministry of Economy and Finance to establish affordable housing prices and incentives on tax and regulation in order to encourage the private sector to shoulder the task, according to Mr. Chea.Ultimately, it is undisputed that the demand for affordable residential housing in Phnom Penh is a trend that will continue to grow throughout 2018, and the following years. With the expectation of a large population increase, support from the relevant Ministry departments, and developers already tailoring their developments with affordability in mind, it is likely that more families will have the opportunity to enter the residential property market in the years to come.Click here for current  properties for sale in Cambodia and current properties for rent in Cambodia

Purchasing a new home is one of the biggest financial decisions you will make and one of the most critical assets you will acquire in your lifetime. Therefore, making a decision of such gravity requires a large amount of initial thought, comprehensive planning and forward thinking. One of the major considerations that you need to take into account is whether you require a home loan - and, with such a variety of current and emerging banks in Cambodia, it is important that your home loan provider is trustworthy and reputable in the market. These qualities - amongst many others positive traits - are exemplified by PPCBank.Why Choose PPCBank as Your Home Loan Provider?Phnom Penh Commercial Bank (PPCBank) has made its first step in 2008. After changing shareholders to Joint Venture of Jeonbuk Bank Co., Ltd and Apro Financial Co., Ltd, in 2016Mr. SHIN Chang Moo took on the role of PPCBankPresident.  The combination of expertise from an already thriving bank in South Korea and a clear vision to be “the best financial retail group” in Cambodia has resulted in PPCBank's success and continuous growth from day to day. A bank with experience is critical when choosing your home loan provider.PPCBank also genuinely cares about their current and prospective customers needs. This is reflected through their clear focus on customer service. Even the PPCBank logo embodies this ethic, featuring the Chinese symbol meaning ‘people’. PPCBank strives to cater for all ages, demographics and income brackets and make the home loan process simple for all.Loan Terms:With a PPCBank home loan you can borrow up to 80% of the value of your chosen home (or up to USD 200,000); with up to a 20-year repayment term. The process is administered with speed and competitive interest rates starting at as low as 0.65% per month.Conditions & Requirements:Every home buyer will have different financial needs and loan requirements. However, having additional savings and funds of your own available prior to applying for your home loan is important. This will enable you to easily pass the initial stages of your home loan application and ensure you have the necessary deposit amount.Below are the conditions and requirements needed in order to apply for a home loan with PPCBank:●   Complete a loan application form (obtainable from any PPCBank branch);●   ID Card or Passport (copy),●   Family book or Book of Residence amortization (copy),●   Guarantor's for the loan (name, phone number and signature)●   Letter of confirmation of your employment & remuneration from current employer and any sufficient income that warrants your ability to pay back the loan ;●   Permanent residential address in Cambodia;●  Repayment mode: This can be in installments or through amortization. There are also the options with an available grace period(first 2 years) and partial payments. PPCBank is happy to discuss the best mode of repayment for your needs.●    Collateral in the form of  land and building.●   Letter of offer confirming the purchase price of the house and a copy of the state lease;It is advisable that as soon as you find a property that suits your needs, you ask for the necessary proof of ownership from the current owner. A copy of the hard title is one of the key documents that you will need possession of to ensure that you have a legitimate right to the land. If your proposed property is  off-plan or currently under construction, make sure that the developer/seller writes you a ‘Letter of Sale’ indicating the amount that they will sell the property to you for. You should also write a Letter of Acceptance to the developer/seller showing your acceptance of the offer. Those two documents, together, show a legally binding contract between you and the seller of the property; and having these documents assembled will accelerate the processing of your home loan application.Additional costs:Whether you are purchasing an existing property or one that is off-plan, there are always costs that are associated with being a homeowner that extend beyond the price of the house itself. There are basic costs associated with the transferring of the property and even once you have obtained ownership, maintenance costs and potential renovations are also financial factors to be considered. Therefore, it is critical that before you obtain your home loan you think about your purchase as a whole as a  long term investment.Consultancy services:Although the prospect of obtaining a home loan may seem overwhelming - with the body of paperwork involved and the forward thinking involved with repayments - this is not a process you need to go through alone. PPCBank has a renowned and cost free consultancy service which will guide you through every step of the home loan process. From acquiring the necessary documentation, to finding a repayment scheme that works for you - the team at PPCBank will ensure you find a financial solution that is ultimately sustainable and right for you and your family.When you are ready to consider a loan more seriously, we can even put you in touch with Cambodia’s leading lenders