While real estate sector in Cambodia keeps prospering, demand for furniture and kitchenware is also on the rise. In response to rising demand, RCD Kitchen Cambodia came in and bring all kinds of kitchenware, furniture and wardrobes products to the kingdom.RCD Kitchen Cambodia is among the largest company in Cambodia providing high quality products with free installation service for normal residence or Condos. With 45 year experiences in Thailand, our company has operated in Cambodia for two years bringing in new skills to local staff.The company has the largest production site in Thailand and all products are manufactured in accordance with ISO 9001-​2008. The most interesting thing is that all staff in both Thailand and Cambodia are well-trained to serve its customers.Furthermore, the company also imported well-known kitchenware products to Cambodia such as Cattelan, Bodema, Lago, and Cesar Italian.All products are priced from $850 to $10,000 dollars to serve rising demand for Cambodian household in need of them.We focus on quality and make sure that we offer the best products and services to our customers. Moreover, we also cooperate with international firm providing  Blum & Hafele brand.Our company always offer confidence and good service to customers, striving to find new products to serve them.You will get free consultation from us for the design of your kitchen by just showing this article to our staff.  RCD Kitchen Cambodia is your best choice for kitchenware and furniture products.Find out the best real estate news on Realestate.com.kh

As Phnom Penh’s real estate development continues to boom, interest in land and residential property within the city’s suburbs has risen accordingly. Chroy Changvar, nestled in Northeast Phnom Penh and running alongside National Highway No. 6A, has proven to be a hot spot in this regard- in particular for families looking for a lifestyle of convenience, with ease of access to solid infrastructure.A host of borey projects in Chroy Changvar have emerged over the preceding years as developers have sought tracts of land to host their developments, to keep up with the area’s rise in popularity. Major projects include; Borey The Flora, Borey The Mekong Royal and Orkide Villa’s The Botanica, which marks the developer’s third project in this area.One of the main areas of appeal about Chroy Changvar is its’ strategic location and connectivity, with main highway access and direct routes to key provinces such as; Kampong Cham, Kampong Thom and Siem Reap. The two rivers running on both sides of the Khan also provide an eco-friendly and natural environment.Mr. Cheng Sothea, a customer who purchased a villa house in Borey The Mekong Royal, said: “Chroy Changvar is a great place for living because it has expansive roads without traffic jams, which is different from central Phnom Penh.” Moreover, Mr. Cheng believes that with several large projects in the pipeline- including a new stadium funded by China and the relocation of  Cambodia’s biggest zoo, that a large amount of growth is imminent in this area- and he is anticipating a positive return on his investment.Mr. Teng Rithy, CEO of Property Investment Realty Partner, commented on the area’s  development: “Chroy Changvar is a rapidly developing area and has already attracted many famous borey projects and large firms to invest in both residential and commercial projects.” Mr. Teng further believes that the developments in the area are luring the upper-middle and high income class to buy property, and that the area is developing into a hub for residential living, commercial offices and tourism.Mr. Yim Socheath, Director of CDN Property, agrees with Mr. Teng’s view on the target market of Chroy Changvar and believes that while most residential developments in other suburbs are designed to target lower to middle income families, residential projects in Chroy Changvar are specifically developed to target those in higher income brackets.“The area is developing faster, and in a much more civilized fashion than any other suburbs in Phnom Penh, with comparatively large and famous investment projects” Mr. Yim said.Mr. Yim explained that the price of land for sale in Chroy Changvar has risen substantially, estimating a 300 percent increase compared to four years ago. Land price within a two kilometer radius of The Chroy Changvar Bridge is estimated to be between $1,200 and $2,000 per square meter in residential areas, and between $2,000 and $4,500 in prime commercial areas.However, outside of the two kilometer radius, the average land prices demonstrate a dramatic drop to approximately $400 to $600 per square meter, and the prices continue to decrease with further distance from Chroy Changvar’s in demand areas.Mr. Yim believes the reason for the growth in land prices is largely due to the famous borey development companies that have flocked to the area already, and have bought large plots of land. “In fact, two large development projects in particular; Chroy Changvar Satellite City by Overseas Cambodia Investment Corporation (OCIC), and the collaboration of LYP Group and China Minsheng Investment Group to establish a second Satellite City, have played a fundamental role in attracting residential borey projects. These projects have been driving forces behind the land price increases” Mr. Yim said.In addition, OCIC also plans to build a new $35 million concrete bridge across the Tonle Sap River from the Sokimex gasoline station in Russey Keo, to the Prek Tasek Commune in Chroy Changvar.It is believed that the planned new bridge by OCIC will not only reduce traffic congestion when crossing the Chroy Changvar Bridge, but will also help drive land prices in the area to rise further.Ultimately, with sound infrastructure and a host of future developments underway in both commercial and residential capacities, it is likely that developers and investors will continue to flock to Chroy Changvar over the coming years allowing for the area’s true potential to be realized. For a detailed overview of Chroy Changvar, please read our Chroy Changvar Location profileSearch properties for sale in Chroy Changvar and current properties for rent in Chroy Changvar!

The  process of buying or renting business is often time consuming and may seem complex. However, by following a step by step process this can be simplified and help you ensure acquiring your new asset achieves your desired results.Last week in Considerations when buying or renting business property - part 1, we discussed about acquiring business property as a whole and the first steps in identifying the right business for you. This week we take a further look into identifying the right business for you and the role that real estate agencies and lawyers play in this process, thanks to Realestate.com.kh!Identifying the Right Business For You:One of the final steps that should been taken once you have specifically researched the type of business you would like to invest in, and have embarked on looking at the longevity of your investment- is maintaining an interest in the relevant market.Last week we used the example of investing a hotel business and how you will need to delve deeply into looking at your potential investments’; brand, reputation, duration of operation- among other factors. Once this specific research has been completed, the last step is keeping yourself fully informed about the property market going forward.This will mean proactively taking into account legal changes taking place, legal requirements, local and up-and-coming competition within the market. Make an effort to cast your eyes over real estate and business news, magazines, newsletters and website advice- these resources can provide definitive information and help solidify your choice of business property.Lawyer assistance:Generally if you buy or rent a large scale business property, this always requires good a lawyer. The lawyer will create all the legal documents, payment, and responsibilities. All these will  be set down in the heads of agreement at a point in the negotiations. The bigger contract - the harder it is. The Heads of Agreement is an important and useful stage in the negotiations process. It essentially condenses the key elements of a sale into a single document for both parties to see the agreement.Agency services:A good real estate agency is always crucial, as a buyer or a renter -especially if you are not sure about the market. When you come to agents, they can guide you towards the right property within your budget plan and to a preferable location.Ultimately, when it comes to buying or renting a business, doing your research and fully informing yourself about your prospective investment is critical. Enlisting the help of experts, lawyers and agencies are all ways to solidify your investment and it’s longevity.Interested in buying a business property? Check out the latest property for sale in Cambodia on Realestate.com.kh!

Surrounded by several potential development areas: Sangkat Boeung Kak, Sangkat Phnom Penh Thmey, Sangkat Khmuonh, Sangkat Krang Tnuong, and Sangkat Teuk Thla, Toul Kork is currently considered as one of the four developed areas in Phnom Penh joining Khan 7 Makara, Khan Chamkarmon, and Khan Daun Penh. Toul Kork is also known as “a fast-up-and-coming-area” in terms of both residential and commercial real estate development - see Realestate.com.kh article Houses for Rent in Toul Kork: Renter's Guide for more information!Mr. Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork is now considered the second most popular residential area after Beung Keng Kang 1 (BKK1) since this area has big houses, huge vacant plot land, and improved infrastructure.”“Recently Toul Kork has transformed itself into actual BKK1, showing great potential down the line because the area has bounded by new developments. Moreover, there will be a new thirty-meter wide road, which is underway on the old railway located between Toul Kork and Boeung Kak lake connecting Russian Boulevard to Sankat Russey Keo,” Mr. Sorn added.In regard to land price, Mr. Sorn said: “land prices in Toul Kork is relatively stable at the moment compared to other developed areas in the city. land price in Toul Kork has seen neither increase nor decrease over the last 2 years even though there have been a few significant price increases in 2014 and 2015, before the property market achieved its current stability. In any circumstances, the land price will never decrease, even though there are few buyers.”Mr. Touch Bin Beakna, Valuation Manager at Key Real Estate, said: “The most potential areas in Toul Kork are Sangkat Boeung Kak 1 and Boeung Kak 2.  Land price in the two areas can be divided into two parts: the land along the main road favorable for large-scale commercial purposes, and the land along the smaller road conducive to residential development such as condominiums, serviced apartments, and hotels.”“Along the main road No. 289, No 315, and No 337, land price averages between $2,500 and $3,000 per square meter while along smaller roads, land prices range from $1,500 to $2,000 per square meter,” added Mr. Touch.“Other areas in Toul Kork have less opportunity for future investment because the are is already fully developed with residential development and land price is remarkably high. Along the main roads such as Mao Tse Toung Boulevard, Phsar Depo road, and Oknha Tep Phan street, land price has an average of $3,000 - $4,000 per square meter while along the  smaller roads in Sangkat Phsar Depo 1, 2 and 3, Sangkat Teuk Laak 1, 2 &3, Sangkat Boeung Salang and Phsar Deum Kor, land price starts between $1,500 and $2,500 per square meter.”Key Real Estate is basically working in Toul Kork area and the company hopes to help both local and international buyers to be fully aware of the value of each type of property in particular locations, and especially offer them exactly what they need within their budget plan.For Mr. Sorn, Key Real Estate aims to sell the confidence first to the clients in order to give them better and more reliable quality service provided by our firm. With all the staffs being fully trained, Key Real Estate is one hundred percent sure they can utilize their knowledge and experience to serve their clients with the highest quality service.Key Real Estate has a vision to provide the best quality services for all property valuation in Cambodia and also aims to contribute to Cambodia’s ever-growing real estate sector. Key Real Estate is your win-win partners!Read more article about Toul Kork Transforming Itself from Residential to Mixed-use AreaClick here for current properties for sale in Toul Kork and current properties for rent in Toul Kork

Asian Development Bank (ADB) has funded $950,000 for Environmental Infrastructure Project that will rehabilitate the area around renowned Crab Market (Phsar Kdam) in Kep province, according to Sok Sokhun, deputy general director of the Ministry of Tourism.During the recent groundbreaking ceremony held by the Ministry, Mr. Sok said: “ADB funded the project to further attract more foreign and local tourists to the coastal destination, and would be building a tourism centre, installing a drainage system and erecting a network of public toilet facilities. The infrastructure project will be completed by August of next year.”Kep is among Cambodia’s popular coastal tourist destinations along with Kampot and Sihanoukville and is also well-known for its eco-tourism. In September 2017, the Environment Ministry, a committee consisting of all Asean member countries, awarded Kep for the “Asean Environmentally Sustainable Cities.”Local real estate agents welcome ADB’s infrastructural funding in Kep. Sok Ken, the founder of Kampot Property, said: “infrastructural development in Kep will further make this coastal province more attractive for local and international tourists. Meanwhile, the project will help push land price surrounding Phsar Kdam to rise in value, a good news for local landlords.”At the same time, Mr. Mam Sereypanha, the CEO of Easy Property Investment, said: “Infrastructure development is very necessary for the new town such as Kep. ADB’s infrastructure funding in the province plays a vital role in improving the province’s development, especially tourism sector. Kep is similar to Phuket in Thailand or Bali in Indonesia because it has excellent eco-friendly environment, a popular destination for wealthy local and European tourists.”Search property for sale and property for rent in Kep on Realestate.com.kh!

Toul Kork, once an underdeveloped area, has become an attractive suburban area thanks to its continuous rapid developments. Over the last few years, there have emerged a number of big projects such as The Gateway, Parkson Mall and TK Avenue as well as Phnom Penh City Center (PPCC), the most well-known and largest mixed-use project in the area.All these projects are gradually transforming Toul Kork from residential to mixed-use area similar to Boeung Keng Kang (BKK)’s development model. Toul Kork, also known as a rapidly developing area, is becoming the next target for local and international investors seeking for a good return on investment after development in BKK is saturated.  Mr. Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork has become a popular investment destination for local and international investors and is now transforming itself from residential to mixed-use development area similar to what Boeung Keng Kang did 6-7 years ago.”“Recently, Toul Kork has seen many necessary facilities such as international schools, hospitals, malls, retail space, bars, restaurants, coffee shops, hotels, serviced apartments, and condominiums. And even if it has yet to have all amenities as much as BKK1, it’s no doubt Toul Kork will become the next BKK because its development structure looks almost the same as that of BKK, Mr. Sorn added.Two Sangkats in Toul Kork: Boeung Kak 1 and Boeung Kak 2, have recently become the most popular area, largely because the possibility of investment return is high compared to Boueng Keng Kang where land for sale in Toul Kork has reached its price cap.Toul Kork has more available big plots of land for development and land price is also not as high as that in BKK. The collection of amenities in Toul Kork which cater for local and international newcomers will attract more people to come, pushing the demand for more property and so the value of property in the area will automatically increase, according to Mr. Sorn.For those investors interested in investing in Toul Kork, they can contact local real estate agency Key Real Estate with over 10 years experiences in buying, selling and evaluating all properties in the area.The company has highly motivated and skilled staff with strong capacity and knowledge to serve the clients with the highest quality service. The company hopes to help both local and international buyers to be fully aware of the value of each type of property in particular locations, and especially offer them exactly what they need within their budget plan.Key Real Estate has the vision to provide the best quality services for all property valuation in Cambodia and also aims to contribute to Cambodia’s ever-growing real estate sector. Key Real Estate is your win-win partners! Click here for current properties for sale in Toul Kork and current properties for rent in Toul Kork

Cambodia’s real estate sector growth is set to be pushed further through active efforts by the Government to increase the number of Chinese tourists entering the Kingdom. The second national forum on the "China Ready for Cambodia Tourism” policy initiative took place on the 31st October 2017.If you are interested in learning more information about the growth of Cambodia's tourism nationwide check out our tourism extract from our upcoming 2018 Cambodian Real Estate Foreign Investment Guide 2018 in Issue 5 of our Cambodia Real Estate Magazine. This white paper policy initiative aims to increase annual Chinese tourists visiting the Kingdom by outlining the initial steps to be taken by the Ministry of Tourism to facilitate Chinese tourism, including; encouraging the use of the Yuan currency, tailoring food and accommodation choices and providing Chinese signage and documents for visa processing Cambodia Tourism Minister, Thong Khon, stressed the country’s aim is  to attract two million Chinese tourists entering the Kingdom annually by 2020.Cambodia welcomed 3.5 million foreign tourists in the first eight months of 2017, up 11.8 percent from the previous year, of which 742,586 were Chinese tourists. According to the Minister, this represents a 44 percent increase of Chinese tourists- which is great news for the Kingdom’s economy-  especially for the real estate sector, which is buoyed by the continual influx of Chinese investment.Ms. Somnang Cheam, Director of Lucky Property Service, commented on the effect of Chinese tourism on the real estate sector: “When more Chinese tourists arrive in Cambodia, the real estate market will be more robust, with land prices rising in accordance with the demand for more affordable residential developments; such as condos, hotels, and guesthouses to meet the demand of rising Chinese tourists.” Ms. Somnang further believes this will also have a positive effect on Cambodia’s economy in the form of more job creation for Cambodian workers in the construction sector.Ms. Somnang continues: “However, landlords with properties for rent and properties for sale should be cautious with price setting. When there is more demand- especially from Chinese tourists who are looking for rooms for rent, landlords should not intentionally increase the price too high, which is affordable for the Chinese- but unaffordable for westerners or locals”Echoing Ms. Somnang’s view, Mr. Hay Ravy, Marketing and Sales Manager of Daily Realty Group, stated, “More Chinese tourists will lead to demand for more land to build hotels, resorts and guest houses - which means that land price surrounding key tourism hot spots will rise”. Mr. Hay believes employment opportunities will extend beyond workers in the construction sector and will create more job opportunities in the hospitality industry - in particular a demand for skilled Chinese speakers in hotels and resorts. “Rising Chinese tourists will also contribute to the nation’s revenue in the tourism sector,” Mr. Hay saidMr. Hay believes that the main reason Chinese tourists flock to Cambodia is due to the positive relationship between the two nations in many fields such as diplomacy, trade, and investment. Over the last five years, China has invested heavily in Cambodia’s real estate sector- particularly in Sihanoukville. China is dominating the real estate sector in the province, demonstrated by many major developments such as Blue Bay Condominium  and The SeaGate Suite which are underway.“Another crucial reason attracting Chinese tourists is the low cost of living in Cambodia. Compared to other nations such as South Korea, China and Japan, the prices of food, accommodation and transportation in these countries are five to six times higher than that in Cambodia” He further believes the world famous heritage sites of Angkor Wat, Preah Vihear, and Sambor Prei Kuk temple, as well as numerous natural attractions, also help to lure the Chinese to visit the Kingdom.”Mr. Jin Zhen, Sale Manager of EastLand Hotel and Apartments said: “Cambodia is a fast growing economy with good political stability. Political stability continues to attract both western and Chinese tourists to visit Cambodia.”Commenting on his own developments Mr. Zhen stated “EastLand has limited vacancy at the moment because we continue to provide excellent service to our customers. However growing Chinese tourists in the Kingdom has and will continue to further strengthen our belief that we are making the right investments in the country’s hospitality industry.”Tourism is one of the four pillars supporting the Cambodian economy. In 2016 the Kingdom received over five million foreign tourists including 830,000 Chinese and accumulating gross revenue of $3.4 billion, according to the Ministry of Tourism. This year, it is anticipated that Chinese tourists entering Cambodia will hit the one million mark.Further to this, three more Chinese airlines have commenced plans to enter Cambodia’s aviation market in the near future, in response to increasing demands of Chinese traveling for the purpose of conducting business, and tourists traveling to Cambodia.Mr. Eric Delobel, CEO of Cambodia Airports showed his enthusiasm regarding the new airlines: “Cambodia will welcome three more airlines which will lead to an increasing number of routes connecting both nations. The new proposed routes are Sihanoukville - Guangzhou, Sihanoukville - Kunming, Phnom Penh - Sanming and Phnom Penh- Shenzhen.” Mr. Delobel also commented that as it stands Chinese tourists account for approximately one-third of all inbound international air traffic throughout the Kingdom’s airports.With the Government already implementing critical steps of the “China Ready for Tourism” policy and enthusiasm across the board from developers and major players in the hospitality industry, it is likely that the goal of two million tourists per annum by 2020, is one that is both achievable and will have significant positive effects on the Kingdom’s economic and real estate development as a whole.Interested in learning more about Chinese investment? Check out our article: Chinese investors dominate the real estate market in Sihanoukville

After exhibiting at Cambodia’s Real Estate Show 2, The Parkway Investment Co., Ltd officially held their Grand Opening of commencing sales on the 18th November 2017 at their showroom The ceremony was great success, and honor to be presided by His Excellency Sar Kheng, the Cambodian Deputy Prime Minister. The Parkway is a joint venture between Cambodian Construction Firm, Parkway Investment Co., Ltd, and Chinese Construction firm, Nantong City Daxin Engineering (Cambodia) Co., Ltd. This new project aims to bring a modern condominium to the high potential area not to be overlooked- Toul Kork. At his speech at Saturday’s ceremony, Mr. Sour Sok Theng, CEO of Parkway Investment Co., Ltd, stated that, “Cambodia has overcome many obstacles, the country is progressing well and is rapidly becoming one of the countries with the largest potential amongst the developing countries in the world- especially in the real estate industry.”Parkway Investment Co., Ltd, is a leading development company and frequently cooperates with international construction companies to bring produce quality and luxurious projects; including projects Borey Rith and Parkway Square.Parkway Investment  Co., Ltd, established in 1994, has become renowned in Phnom Penh and focuses on developments such as building houses, commercial buildings, and multi-purpose international projects. The company has a vision to develop Phnom Penh into a clean, harmonious residential area that will continue to progress rapidly.Director of Nantong City Daxin Engineering, Mr. Ma He Jun said: "That the name “The Kingdom of Cambodia’  is not just a slogan that the Cambodian Government uses to promote the nation. For 15 years the average growth of Cambodia's economy has ranked number 6 in the world. We can see the prosperity of the Cambodian real estate market, especially in relation to China's economy and domestic policies. Cambodia is becoming the preferred investment destination  in the next coming 10 years.”“In addition, the‘One Belt One Road’ Policy initiative will push Cambodia's real estate prospects and lead to a remarkable increase’’ Mr. Ma also added that “Now is a great opportunity for investors to invest in Phnom Penh and The Parkway project is your best option”Parkway Investment Co., Ltd’s developments have gained strong attraction and have been supported by both local and international prospective buyers and investors. Mr. Ma believes “This is a great honor, yet it is also a big responsibility for the company”. Daxin Engineering is a renowned construction firm ranked number 200 in Chinese construction industry. The company has been operating for 43 years in China.The construction firm will cooperate with architecture team of China’s Sambok Chab Stadium, the construction team that was previously awarded “The Luban Prize for Construction Project”, the highest accolade in Chinese construction, as well as in cooperation with Parkway Investment Co., Ltd, to design The Parkway. This project is focused on reaching international standards of quality to satisfy the needs and provide comfort for valued customers.The Parkway’s Sales Manager, Ms. Ding LiLi has researched and analyses Cambodia’s real estate market.  Ms. LiLi said: “Buying property to obtain wealth is an investment strategy that is recognized by Chinese people, however, the value of property in China has significantly increased, therefore loan limitation policies, buyer limitation policies, and sale limitation policies in China are also increasing.  As a result, investing in Cambodia as well as in other countries in Asia is considered the wise option for Chinese investors”Ms. LiLi added that currently, “Phnom Penh’s real estate market development looks as same as Shenzhen did previously. Phnom Penh has emerged as an international market with a collection of multinational corporations and multi-international staff. Even though Phnom Penh has a wealth of apartments buildings, and more continuing and commencing construction to be completed in 2018 -  this still cannot meet the market demand”.Ms. LiLi has high expectations and has evaluated the location of The Parkway in Toul Kork and  said that “‘Toul Kork is popular for wealthy families and it is also a world popular tourism destination the  same as 16 districts in Paris, Roppongi in Tokyo, and Lujiazui in Shanghai.”She continued on by stating that “‘The growth rate of property value in Toul Kork is between 10% to 20%, apartment rental rate occupancy is higher than 90% and guaranteed rental return rate is expected from 8% to 10% - higher than apartments in Beijing and Shanghai. Therefore the  investment atmosphere is better than Shanghai, Beijing and Kwang Chov was 20 years ago”“Presently, the growth of value of residential houses in major areas in Phnom Penh starts with an average price at 25%, with rental return rates is anywhere between 8% to 15%. Therefore, if you miss out your investment in Shanghai, you must take the opportunity to invest in Toul Kork, Phnom Penh by choosing The Parkway”.Ultimately, The Parkway Investment Co., Ltd. would like to thank distinguished guests and the management and leadership of Royal Government of Cambodia. Due to this wise leadership, it brings a stable society with fast economic development as well as preferential policies offered by the Government. Therefore the investment atmosphere in Cambodia is more preferable, which will lead to encouraging homeowners to benefit as wellLocated in the finest city in Cambodia, in an elite location in the capital city of Phnom Penh, The Parkway is built to a luxurious world-class residential that you would never missed.Interested in investing in The Parkway, visit Realestate.com.kh now!

The Parkway’s official commencement of sales will be announced at their Opening Ceremony on Saturday 18th November 2017, presided by Cambodia's Deputy Prime Minister and Mayor of Phnom Penh.  Over 25 local media partners and a number of distinguished international guests will join the ceremony which is anticipated to be highly successful and an opportunity to celebrate the vision of coordinated Cambodian and Chinese developers; Parkway Investment Co., Ltd and Nantong City Daxin Engineering (Cambodia) Co., Ltd. Both of these established construction companies have materialised a vision to establish modern,  mixed-use condominium in the rapidly growing up-and-coming-area, Toul Kork.   The Parkway is strategically located in Street 273 in Toul Kork in a high potential area where is it is in proximity to quality infrastructure and key locations, and amenities  such as the CBD, Aeon Mall 2, and the airport.The total development of The Parkway comprises of three buildings. The first, has 36 floors; the second, has 26 floors; and the third consists of 30 floors. In total, there are  1,500 condominium units available, ranging in size from 45sqm to 135sqm, offering variety to potential investors.Parkway Investment Co., Ltd’s previous successful developments such as Borey Rith and Parkway Square has given the developers a solid international reputation, and their subsequent developers always gains attraction and supporting from prospective local buyers. The company believes that the Sales Opening Ceremony will attract more potential investors to learn about the great potential of this new development.Check out The Parkway project on Realestate.com.khFind the new development on Realestate.com.kh

When you purchase property or land is critical to obtain outright ownership in order to feel secure about your new asset. To complete the process for transferring land titles of ownership, there are particular steps that need to be followed, documents that need to be obtained as well as consultations with relevant agencies. There are seven steps in the land transfer process you should know. We explored the first four steps last week - this week we will delve into the last three steps.Below are the last necessary steps for transferring land titles of ownership in Cambodia. This will give you clear instructions on tax obligations, the responsible government agencies , and the estimated time to complete the process, thanks to Realestate.com.kh.Step 5 - Pay transfer tax:A transfer tax of approximately 4 percent of the total value of the property is paid to the Ministry of Economy and Finance at the General Department of Taxation, in the district that the transferred property resides.  A tax receipt is then issued to prove that the property transfer tax has been paid.In Phnom Penh, however, this tax is not assessed based on the true transacted value of the property; but, rather, based on a schedule of the price of property determined by the Phnom Penh Municipality. The assessed valuation by the Phnom Penh Municipality is based upon factors such as; the total number of square meters, the land’s location, use, potential use and other variables.To put this quite simply the transfer tax is not based on the actual price of the land which is sold, which is usually the case- rather it is based on the assessed value made by the Phnom Penh Municipal office, which may be higher than tax rates in other provinces.If the land is more than 1200m², the surplus of the land will also be subject to “unused land tax.” For land less than 1200m², the unused land tax is not applicable. The time for the General Department of Taxation to complete the calculation of transfer tax will depend on the location of the land and its size.Relevant Government Agency: General Department of TaxationEstimated time to complete the step: This process should take around 1 day.Step 6 - Return to Cadastral office to complete the registration process:After all taxes are paid, the parties may return to the Cadastral office at the District Land Office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC) and sign/thumbprint an MLMUPC form for buying/selling real property, as filled in by MLMUPC official.The signing/thumb printing must be witnessed by a local authority such as Commune Chief, who will also give their thumbprint. These procedures are based on Land Law Articles;. 65, 244 and 245. Land Law Article 69 bars transfer of property unless all necessary taxes are paid. The documentation provided should include payment receipts of transfer tax. (obtained in Step 5).Relevant Government Agency: MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction)Estimated time to complete the step: This should take approximately 5 days.Step 7 - Obtain the certificate of title from the Municipal Land Office:Obtain the certificate of title from the Municipal Land Office: The Khan/District land office forwards all the “transfer documents” to the Municipal Land Office where it issues the final Certificate of Title in the new owner’s name. It is now registered.Relevant Government Agency: Municipal Land OfficeEstimated time to complete the step: 1 to 2 weeks. The last procedural step in practice can take several weeks, depending on the diligence of the land officials and interested partiesOver the last two weeks we have explored the 7 steps need for  transferring titles of ownership. It may seem like an overwhelming process as there are multiple government agencies engaged in the process. However, the outcome is a land title that is both secure and legally certified which can prevent disputes in the future. Your new home is one of the biggest assets you will acquire, so following the correct procedure is critical for your future enjoyment. Looking to invest in land as a foreginer? 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!Click here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh

Through numerous legal reforms, and much more clarity in the land titling system, the mechanisms in which foreigners can establish control and ownership over property in the Kingdom now come in several forms. Private ownership of units in a co-owned building (more commonly known as “strata title”), was the first legal instrument in allowing foreigners any ownership rights over property. However strata title is a right of ownership that is limited to specific units, and other legal restraints, so for a prospective foreign investor looking to develop on a larger scale- more freedom in acquiring land and property is needed - see Realestate.com.kh's Foreign Ownership in Cambodia: Laws & Regulation with Matthew Rendall for more information.One of the mechanisms which can be used in the acquisition of property is the establishment of a landholding company. This is a limited liability company incorporated under Cambodian law that owns property on behalf of foreigners. The most critical factor in establishing a legitimate landholding company is that 51% of this company must be owned by a Cambodian National. However, despite on paper the Cambodian party will hold the majority of the shares, the shareholder agreement between the parties can be structured in such a way that the foreign party will hold and exercise control and management of the company.The necessary requirement for majority ownership by Nationals’, and the subsequent benefits once the company is legitimately established is laid out in the law itself.  According to the Law on the Investment of the Kingdom of Cambodia (Chapter VI, Article 16): “Legal entities in which more than 51% of the equity capital are directly owned by natural persons or legal entities holding Cambodian citizenship” The available benefits are further described: “use of land shall be permitted to investors, including concessions, short term leases, long-term leases which are renewable in compliance with the provisions of the Land Law.These benefits that are conferred by law through this structure reach far beyond that which are available by other foreign ownership mechanisms, and are legally recognized.  Regarding the registration process for establishing a landholding company, Mr. Grant Fitzgerald, General Manager of IPS Cambodia, stated “’The most common way to set up the landholding company is through a lawyer who will be responsible for preparing all the legal documents that are required.”Mr. Fitzgerald continued by on by stating he believes that there are four key steps in the process of setting up the company:Step1: The foreign party needs to have a relationship of trust with the Cambodian partner;Step 2: The application process for setting up the landholding company needs to be followed   along with any necessary legal consultation.Step 3: The parties need to have completed the Article of Association. This document outlines  the purpose of the company, duties and responsibilities of its members recorded and defined clearly.Step 4: The parties can then seek to obtain the complete registration of the company.Mr. Fitzgerald elaborated that the Article of Association is the most critical document in the process and that, “It is a complicated process writing up [the Article of Association] as it needs to clarify details about shares, power, decision making rights and other obligations between Cambodian and foreign shareholders. This is a key reason why a good lawyer needs to be consulted throughout the process.”“Generally, as well as outlining the ownership percentages, the Article of Association will be structured with two classes of shares, each having different rights of control. This is to ensure that the foreign party is given “special power” to make decisions over the land.”“The duration of setting up the landholding company can take from two to three months and cost $3,000 to $10,000 or sometimes above that, dependent on whether you hire local or international lawyer” Mr. Fitzgerald added.Having owned a landholding company in Cambodia, Mr. Dana Taylor commenced business in Cambodia since 2009, and owns two companies: Brocon; a landholding company, and www.orome.asia, a property website.Talking about the process Mr.Taylor said, “I bought an existing company and it took about six months to complete all the processes and have the company transferred from the previous owner” Mr. Taylor estimates he spent approximately $8,000 through the whole transfer process.Mr. Taylor has found multiple benefits in owning a landholding company, but primarily the ability to buy land and other properties with hard title ownership has enabled major progression for his business. However with recently Ministry reforms in relation to tax requirements, Taylor believes the establishment of a landholding company could become more complicated, but believes this will not have a major impact - especially for larger scale companies.Ultimately, owning property through establishing a landholding company is the safest way of acquisition compared to other property investment mechanisms, because it contains verified documents, lawyer involvement and is recognized by the law itself. As long as both foreign and Cambodian parties have a relationship of trust and follow a clear and transparent process, the establishment of the landholding company should be one which is mutually beneficial.Search property for sale in Cambodia on Realestate.com.kh today - Or learn the latest real estate news in Cambodia.

Located on the western shore of the Bassac River and bordered by Sangkat Boeung Keng Kang 1, the Tonle Bassac Commune of Chamkarmon district is famous for its modern infrastructure and major mixed-use residential developments in the heart of Phnom Penh.Tonle Bassac offers easy connections to central Phnom Penh via the main roads of Sihanouk Boulevard to the north and Norodom Boulevard to the west.Since early 2015, Tonle Bassac has been bolstered by the influx of large-scale developments such as Aeon Mall 1, Habitat Condominium, Toyoko Inn Hotel and mixed-use developments such as The Bridge, The Peak and DI Riviera. These are just a few – with many more in progress.The latest projects such as Naga 2, a massive hotel and gaming extension to the NagaWorld Hotel, and the $2 billion, 133-storey Thai Boon Roong Twin Trade Center, will further contribute to Tonle Bassac’s reputation as a mega project hub.Upon its completion, the Thai Boon Roong Twin Trade Center will be Asia’s tallest tower. Owing to the high potential of Tonle Bassac, some real estate experts in Cambodia are optimistic that Tonle Bassac may soon become Phnom Penh’s commercial hub, similar to Marina Bay in Singapore.Laurence Hamilton, the Vice-President of NC Max World, said: “Tonle Bassac is conducive to high-rise development projects and is currently showing its great potential owing to many mega projects underway.“Tonle Bassac is highly developed with the existing and proposed mega projects set to push property prices in the area higher. Therefore, the future projects within this area will not be small ones anymore. “Prices of land surrounding Koh Pich and Aeon Mall are likely to skyrocket in the near future,” added Mr Hamilton.He is optimistic that Tonle Bassac is likely to become the second Marina Bay of Singapore in the future, given the current and proposed mega projects in the area. The largest is the $700 million DI Riviera on Diamond Island, with a similar design and purpose to Marina Bay, and it is a good example of this comparison.Heng Vathana, the CEO of Century21 Golden Realty, said: “Tonle Bassac is an attractive and high potential area for big developers keen on their next development projects – as the area still has a lot of big plots of land available for any development project. “It is an ideal place for big development projects such as villa and condo projects.“Tonle Bassac is currently most attractive to developers for future development thanks to its proximity to the central city and near the riverside. Mixed-use development projects such as The Bridge and The Peak are scheduled to be completed in 2018 and 2020 respectively and are located in Tonle Bassac,” he added.“Lately, Singaporean real estate developer Oxley Holdings has acquired a 1,200-square-metre plot of land in Phnom Penh’s Tonle Bassac district for $6 million to house a new showroom for The Peak.”Tonle Bassac is also considered to be the second best location to live and do business for expatriates, corporates and NGOs, following Boeung Keng Kang (BKK) closely. The area offers high security and modern infrastructure most suitable for the middle and high-income class and expatriates.Sorn Seap, the CEO of Key Real Estate, said: “The best part of Tonle Bassac is in the Diamond Island [Koh Pich] and Aeon Mall area. Within this area, land prices can range from $3,500 to $4,500 per square metre – while in other inferior parts of the area, prices can range from $2,000 to $3,000 per square metre.Find property for sale or rent in Tonle Bassac on Realestate.com.kh

After getting the permission to build the new $80 million 21-story building on the former white building, Japanese construction company Arakawa is to invest in another affordable housing project worth $70 million in Teuk Thla Village, Teuk Thla Commune, Sen Sok District.According to the announcement of the Ministry of Land Management, Urban Planning and Construction (MLMUPC), Arakawa is set to launch the construction of its affordable housing project on November 8, 2017.Sitting on the land area of 13,680 Square meter, this project will consist of 2000 units and is divided into two phases of development. The initial phase consists of 10 building with 5 blocks, each block comprising 2 buildings with 19-23 storeys.With the Cambodian government’s drafting policy pushing for more low-cost housing projects, some developers such as WorldBridge Land and B & BM Development have already launched affordable housing projects targeting low-income population in Kandal province under the National Housing Policy.During the National Housing Forum held in June 2017, Chea Sophara, Minister of Land Management, said: “The Ministry of Land Management is paying more attention to seek ways for providing affordable housing for low-income people across the country to have housing with comfort, dignity and safety.”The ministry is working with the Ministry of Economy and Finance to “establish affordable housing prices and incentives on tax and regulation” to encourage the private sector to shoulder the task, according to the minister.With tax incentives and clear regulations, more developers are likely to consider investing in low-cost housing projects which will ultimately be able to meet the demand for some 55,000 affordable new homes each year.Keep track the new development news on Realestate.com.kh!Click here for current borey for sale in Phnom Penh

When you purchase property or land  is critical to obtain outright ownership in order to feel secure about your new asset. To complete the process for transferring land titles of ownership, there are particular steps that need to be followed, documents that need to be obtained as well as consultations with relevant agencies.This week, in Part One we will explore the first four necessary steps for transferring land titles of ownership in Cambodia. This will give clear instructions, information regarding the responsible government agencies , and the estimated time to complete the steps thanks to Realestate.com.kh.Step 1: Verify the title certificate with the relevant Land OfficeThe buyer will first need to verify the land title certificate with the Land Office at the Ministry of Land Management, Urban Planning and Construction (MLMUPC), to check for any debts or other claims to the property. This process requires:●      The buyer obtaining the initial title certificate from the seller to verify their genuine ownership.●      The buyer will then verify the title certificate with the Land Office at the MLMUPC●      The Land Office will inform the buyer if there are any liens (debts), mortgages or other claims registered to that propertyRelevant Government Agency: Land Office at MLMUPCEstimated time to complete this step: This takes approximately  10 days (should occur simultaneously to steps 2 and 3)Step 2: Obtain information on the property:The buyer must then obtain information on the property from the relevant Commune Council Official. This involves the buyer contacting the village chief or the Commune Council Official in which the property is located, to obtain information about  the land. In addition to this an official search of the title should take place at the Khan/District Land Office.Relevant Government Agency:  Commune Council (Relevant District/Khan office in your property’s  area)Estimated time to complete the step: This should take approximately 10 days (should occur simultaneously with  steps 1 and  3)Step 3: Obtain the certificate of incorporation and official documents from the seller:If the landowner is a legal entity, the buyer must obtain;●       A copy of the ID of the shareholder, or person acting on behalf of the company,●       A certified/notarized copy of the Certificate of Incorporation of the seller’s company as issued by the Ministry of Commerce.●      Any other official documents from the seller relating to the company and the transaction.All of these documents are needed to verify the accuracy and identity of the company name appearing on the title certificate.Further documents needed to verify the seller’s authorisation to transfer the property to the buyer are;●      A power of attorney●      A Resolution signed by the Board of Directors from that company authorizing the named individual (seller) to represent the company at the Land Office (MLMUPC)●      A power of attorney specifically stating that  the seller can bring into effect that Resolution to transfer land titles of ownership to the buyer.Relevant Government Agency: Ministry of CommerceEstimated time to complete the step: This process should take around 10 days (should occur simultaneously to steps 1 and 2)Step 4: Apply for registration at the District Land Office (MLMUPC)When the buyer and seller, whether they are as an individual or a  company  wish to complete the property transaction, they must go together to the District Land Office at the MLMUPC to arrange to prepare and sign the relevant documents.The documentation needed for this step is●      The Company’s statute,●      The Company’s Certificate of Incorporation (obtained at Step 3)●      Both of  the Power of Attorney documents (obtained in Step 3).The original Title Certificate held by the seller must be presented to the District Land Office  at the time of signing the deed, in order to have the name of the new owner officially inserted on the document.Relevant Government Agency: District Land Office, MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction)Estimated time to complete the step: This step takes between 20 and 30 days.Although there may seem to be a body of paperwork to initiate the process for transferring land titles of ownership, as a buyer, having a legitimate title to your prospective land or property enables you security and legally sound transaction.  Stay tuned for Part 2 next week, where we will delve further into the remaining steps of the process and take a comprehensive look into transfer tax.Looking to invest in land as a foreginer? 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!Click here for current real estate for sale in Phnom Penh and current real estate for rent in Phnom Penh

Selling or renting a property that you own is unlike any other transaction we undertake in life; as ultimately- most people’s biggest asset is their home. Last week in Finding the Best Real Estate Agent Part 1 we explored the first steps in looking for the best real estate agent for you needs; namely where to begin your search and the ‘interview style’ questions you should ask your potential real estate agent.This week, we are going to delve a little deeper into these general traits that a good real estate possesses, the importance of doing your own research and how to the performance of your real estateBelow are some more factors to keep in mind, thanks to Realestate.com.kh!Doing Your Own Research:Due to their industry insight and experience, a good real estate agent should be able to answer the critical questions relating to your property and achieving your goal. However, it is also important that you conduct your own research and have some idea of the price range you can expect to receive or pay for your property.For example, if you were selling your property, it is important to do an appraisal of the selling price of other ‘similar’ properties in your neighbourhood. Although amenities and the quality of the property will lead to price variations between properties, there should not be too many differences between what other properties in your area are selling for.A good real estate agent should provide an analysis that roughly matches your research, and if there are some major differences between your research and their proposed price, they should be able able to give you valid reasons why - and backup their claims with research.In terms of the price you will pay the real estate agent for their services, you will need to research this too. In the interview stage (or any stage prior to committing to a formal contract) ensure you have an idea of what the agent is proposing to charge you and identify  any potentially ‘hidden costs’ that you could be subject to pay. Talking to buyers and sellers who have been through this process can be a helpful tool in ascertaining whether the price you have been quoted in fair.Again, there may be some variation between agencies with price, but you need to  ensure that you are getting the best value for money, and know exactly what you are paying for.Making the Decision:Once you have reviewed your options and decided on the agent/agency who you believe will look after your interests, you need to enter into a formal agreement.The written agreement should clearly outline the terms and conditions of appointing the real estate agent. You should ensure that you read this agreement carefully, and raise any questions with your proposed agent prior to signing. A proper agreement should contain an estimated sale or rental price, the total commission payable (in Riel or USD figures), fees and charges, and marketing expenses.Assessing the performance of your real estate agent:Once you have entered into a formal agreement, it is important to monitor your selected agent closely to ensure that they are delivering the service that they promised you. There should be consistent communication and updates about the progress of your home transaction. A real estate agent that is performing well should;Provide you with regular updates regarding the number of buyers and tenants they have been in contact with.Have a screening process to determine a tenant or buyer’s suitability for the property (for example reference checks, confirmation of their job etc.).Deliver ongoing marketing advice regarding the number of inquiries your property is receiving and how to increase its appeal to renters / buyers (for example, conducting advertising, furnishing the property, altering the agreement terms slightly, etc.).Competently handle the negotiations of the monthly rental or the sale price of your property. This is probably the most important job of a real estate agent and a good real estate agent will be an expert negotiator.Demonstrate experience at handling the legal and financial process of managing the rental property and/or conducting the sale.Ultimately, with a vast range of professional agents and agencies throughout the Kingdom, it is likely that you will find a quality real estate that can deliver your expectations regarding  your property. Although these may seem like a lot of factors to take into account, with a transaction that has the ability to have such an impact on your life, it is important to put yourself in the best possible position to achieve our desired result.Want to find the best tips for your property investment, visit Realestate.com.kh

The 28 members of the Cambodian Valuers and Estate Agents Association (CVEA), from across fourteen local real estate companies, will participate in the REALTORS® Conference & Expo in Chicago, United States of America, next week.The National Association of Realtor’s (NAR) is America’s largest trading association, and holds the REALTORS® Conference & Expo annually. The four day event will take place from the 3rd to 6th of November, attracting 20,000 real estate professionals  from  60 countries around the world.Dr. Kim Heang, President of CVEA stated that the purpose of attending the conference is to promote Cambodia's real estate industry to the world: “During the event there will be be thousands of multi-international real estate agents and agencies from all the edges of the world.”Dr. Kim added  “This is the best time for us to raise our national flag to be among the other countries, and [by raising the] Cambodian flag, will show the strength of our real estate market to the rest of the world.” Dr Kim further believes that this is a great opportunity for Cambodian members to learn the new development structures, technological advances, innovation and management forms that international real estate agents are already using.However, Dr Kim doesn’t expect the four day conference will lead to immediate growth, but believes it will allow CVEA members to ensure they understand the way that  foreign countries are developing their real estate- and then gradually implement these practises into the Kingdom.The CVEA team will also travel to other states in America with the plan to sign Memorandum of Understanding(MoU) with other real estate agency partners, which is a great opportunity for building international real estate relationships. The 14 real estate companies and agencies that have representatives attending the REALTORS  Conference & Expo are; Khmer Real Estate Co., Ltd, Cambodia Properties Limited (CPL), Century 21 Cambodia, The Sea Gate Suite, Towncity Real Estate Co., Ltd, Amatak Property Service Co., Ltd, KAT Appraisal Co., Ltd, Eyes Real Estate, Century 21 Mekong, Anajak Investment Co., Ltd, Century 21 World Trust, Century 21 Fortuna Investment, CBRE Cambodia, Active Property and Realestate.com.kh.Want to learn the latest real estate news, visit Realestate.com.kh today!Take 2 minutes to complete our survey and win and IPhone 8!

A new law is in the process of being  drafted by the Ministry of Economy and Finance which will restrict the number of licenses that are issued for construction investment projects and real estate properties in the Kingdom. The 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.The buyers, themselves, can also check by their own whether the protect has legal documents to run the project. Through stricter monitoring of residential projects, as well as strengthening of rules surrounding bank loans and deposits, the Ministry of Economy and Finance believes they can tackle and eliminate people from falling victim to real estate scamsSerey Peung, General Manager of Cambodia Angkor Real Estate, believes that these rules would be good news for the industry- especially in light of some of the fraudulent dealings he has seen. One such example is of companies that acquire loans from banks by using their land as collateral. In these cases the company would announce the project and start selling units, prior to construction taking place-  in order to fund the project's completion. In many cases the sale of these units pre-construction has slowed down, which means that these financers were “left in the lurch”Peung believes it's critical that construction begins prior to the sales: “Don’t just announce the sales and start selling - because it is very risky,”Presently the Ministry requires project owners to deposit 2 percent of their capital investment in a local bank in the event that the project is not completed. However the new law will strengthen and add to this rule, by requiring transparency and official guarantees from that bank and partners of the project.As it stands there has been no decision on a new minimum deposit needed by an investor, but this is set to be decided after further consultation with private sector stakeholders, and development of the law. Ultimately it is hoped that the law will encourage only those who have the financial means, to invest in ‘’real property’’.The new law is expected to take effect by the end of 2017.“Kim Heang, the head of the Cambodian Valuers and Estate Agents Association, stated that the new law has been in the works for almost four years now and would not have any effect on those who adhere to transparent business practices.“The new law will help reduce the amount of non-physical projects 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,” he said. “This law is very good for society, while it ensures that only those with real capital can invest in real property projects.”Okhna Ly Hour, head of the Cambodia Constructors Association, said in the past, there were land plot salesmen who would say the land is near Phnom Penh and very cheap but would decline to mention exactly where it was. The ministry was concerned about the risk, and that is why the new law was drafted, he said, adding that the law was not a restriction, as it was designed to help save people.“This is the care of the government for the people, and we, the private sector, fully support this intervention,” he said.Find the best borey for sale in Cambodia on Realestate.com.kh! Or find out more why buy off-plan project in Cambodia?

Choosing a real estate agency and agent is a major decision for any prospective home buyer or seller. Your choice of agent will directly impact the price you pay or amount received for your property, and also determine the ease and speed of the buying/selling process. Therefore, it is important to have a relationship of trust with your agent.With over 100 legally registered real estate agencies throughout Cambodia, many more non-registered agencies, and thousands of individuals who are self-professed ‘agents’, it can be difficult to know where to begin the process of finding a professional and suitable agent.That’s why we’ve created a comprehensive guide to help you find a suitable agent for your needs.Finding a good real estate agency/agentOne of the first factors you should consider is that the majority of these legally registered agencies are based in the key cities of Phnom Penh, Siem Reap and Sihanoukville. With that in mind, it is to be expected that finding a professional real estate agency to handle your business outside these areas can be challenging  However, even within the cities themselves, there is an overwhelming amount of choice - and varying degrees of professionalism - so it is important to weigh and compare your options before making your choice.The first place you might look at is the Cambodian Real Estate Agency Directory on Realestate.com.kh. Use this database to shortlist professional and trusted agents in Cambodia. You may use Realestate.com.kh as a platform to reach out to these agencies or you may want to talk to them yourselves - whichever you’re comfortable with, go for it.It’s also worth noting that recommendations from former clients across blogs, Facebook, Twitter and other external publications online is a very good sign that the agent is reputable and trustworthy.Key Indicators of an agent/agency’s professionalismThe following are key indicators that the agency or agent you are considering is committed to delivering the service you expect, and perhaps more.Works from an office: Agencies who have premises with multiple staff are usually legitimate and well-established businesses. Having an office also gives you a place to go to when you have complaints; avoiding the frustration of tracking your agency down if you have a complaint.Has a website / conducts marketing: Agencies who have websites, conduct newspaper advertising and generally have good paper based marketing are likely serious businesses with a commitment to their profession. So look for agencies who put their money where their mouth is!Interviewing your prospective agent/agencyAn interview of your prospective agent/agency should take place prior to committing to a representative. This will allow you to thoroughly investigate whether the agent is a good fit for you. Here is a list of questions to ask the prospective agent during the initial meeting / real estate appraisal:How many years has the company / person has been involved in the real estate industry?How many sales / rentals have they completed in the last year?How many properties are currently listed for sale / rent on their books?How many prospective buyers / tenants are they currently in contact with?What is their preliminary value estimate of your property listing in the current market, and what appraisal formula have they used to arrive at this figure?What is their proposed marketing strategy for the property (for example online, newspaper, email database)?The answers that you receive from these questions should give you things to consider in order to make a proper choice about the agent’s level of experience, professionalism, and whether they can deliver the services you require when it comes to the future of your property.Research your property and compareWhile this may seem counterintuitive at first, doing your own due diligence about your property can tell you a lot about what your prospective agent can bring to the table. Your own research should also give you an independent price range of how much you can get for your property.For example, if you were selling your property, it is important to do an appraisal of the selling price of other ‘similar’ properties in your neighbourhood. Although amenities and the quality of the property will lead to price variations between properties, there should not be too many differences between what other properties in your area are selling for.You can conduct your own small research by talking to multiple agents or checking popular real estate platforms in Cambodia to give you a benchmark of property values in your area.A good real estate agent should provide an analysis that roughly matches your research, and if there are some major differences between your research and their proposed price, they should be able to give you valid reasons why - and backup their claims with data.Another thing you need to know about is their agent fee or commission fee. Much like in other parts of the world, agents get their fee from the seller and not the buyer. This is an important matter to research as this will likely take a bite of your money as the seller.In the interview stage (or any stage prior to committing to a formal contract) ensure you have an idea of what the agent is proposing to charge you and identify any potentially ‘hidden costs’ that you could be subject to pay. Talking to buyers and sellers who have been through this process can be a helpful tool in ascertaining whether the price you have been quoted is fair.Again, there may be some variation between agencies with price, but you need to ensure that you are getting the best value for money, and know exactly what you are paying for.Making the Decision with a Formal AgreementOnce you have reviewed your options and decided on the agent/agency who you believe will look after your interests, you need to enter into a formal agreement.The written agreement should clearly outline the terms and conditions of appointing the real estate agent. You should ensure that you read this agreement carefully, and raise any questions with your agent prior to signing. A proper agreement should contain an estimated sale or rental price, the total commission payable (in Khmer Riels or United States Dollars figures), fees and charges, and marketing expenses.Assessing the performance of your real estate agentOnce you have entered into a formal agreement, it is important to monitor your selected agent closely to ensure that they are delivering the service that they promised you. There should be consistent communication and updates about the progress of your home transaction. A real estate agent should;Provide you with regular updates regarding the number of buyers and tenants they have been in contact with.Have a screening process to determine a tenant or buyer’s suitability for the property (for example reference checks, confirmation of their job etc.).Deliver ongoing marketing advice regarding the number of inquiries your property is receiving and how to increase its appeal to renters / buyers (for example, conducting advertising, furnishing the property, altering the agreement terms slightly, etc.).Competently handle the negotiations of the monthly rental or the sale price of your property. This is probably the most important job of a real estate agent and a good real estate agent will be an expert negotiator.Demonstrate experience at handling the legal and financial process of managing the rental property and/or conducting the sale.Ultimately, with a vast range of professional agents and agencies throughout the Kingdom, it is likely that you will find a suitable real estate that can deliver your expectations regarding your property. Although these may seem like a lot of factors to take into account, with a transaction that has the ability to have such an impact on your life, it is important to put yourself in the best possible position to achieve our desired result.Ready to start your Search for the perfect Cambodian Real Estate Agent for you? Check out our Agency Directory now!

Poipet is a city serving as Cambodia’s main border crossing with Thailand. Located in Banteay Meanchey Province, the seemingly sleepy border town has been gaining popularity as a gambling destination between the two countries.However, the government plans of turning Poipet into an industrial zone is coming into place. It is believed that due to this - and the town’s proximity to Thailand - investors will seek opportunities to invest in the town’s manufacturing sector.Vital infrastructure such as the railway link between Phnom Penh and Bangkok (via Poipet-Aranyaprathet) has already complemented and is expected to further contribute to the estimated $6 billion worth of trade between the two neighbors. Prime Minister Hun Sen indicated that his government also plans to further develop the national railway to increase its popularity among Cambodians.Mr. Eric Wong, Administrator of SkyscraperCity Cambodia, shares a positive outlook with the border town’s growth saying: “Poipet has seen remarkable development in recent times with the establishment of more factories and businesses”. Mr. Wong’s family has invested in multiple businesses in Poipet due to the town’s strategic location to Thailand and believes that border trading between Cambodia and Thailand is already growing.The establishment of the Sanco Poipet Special Economic Zone (SEZ) in 2014 is one of the key reasons for this growth and acts as a vital economic trading gate between Cambodia and Thailand, which is poised for future development.Soeng Sophary, a spokesperson for the Ministry of Commerce Cambodia commented that:  “Thailand is one of the Kingdom’s main trade partners with both governments enjoying very close and amicable relations.’’ Sophary believes that due to these strong government ties, cross-border trade could increase to 15 billion USD by the end of 2020.Sophary continued by stating that: “The value of imports from Thailand has decreased marginally, due to the fact that more Thai investors are building factories in Cambodia, at the same time, Cambodia’s exports to Thailand have actually increased.” She also believes that the new railway will be a major catalyst for improving infrastructure and will aid both Cambodia and Thailand in reaching their trade goals.In terms of Poipet’s real estate market; land price is consistent and not seeing any signs of remarkable increase. However, Mr Sorn Seap, CEO of Key Real Estate believes the prices are expected to rise now that the railway project is finished and more industrial activity takes place.He elaborates, “Currently, land prices for residential projects in areas without construction are between 200 and 300 USD per square metre, and in construction dense areas is priced between 300 and 500 USD  per square metre.”Mr Sorn continued, “For commercial areas or downtown Poipet, prices range anywhere between 500 and 1,000 USD per square meter, while the land price located along National Road 5 or close to the border can reach up to 1,000 and 2,000 USD per square meter.”Although residential property development isn’t seeing any drastic growth at the moment, Mr. Sorn stated he has seen some movement with a handful of Borey projects in the 50,000-100,000 USD price bracket being developed. Mr. Sorn is convinced there is serious potential in Poipet’s real estate industry in the future, due to increased employment opportunities from the existing SEZ, and the government’s industrial plans. Ultimately, more demand for labour in the city will lead to a need for residential housing.The completion of the railway project is expected by real estate agents and experts will result in the increase of trade between Thailand and Cambodia and consequently encourage a rapid influx of investors building factories in Poipet. This will eventually have effects on boosting the local economy and incomes across the board.Ultimately, this casino-dense border town is rapidly changing and is anticipated to become one of the most attractive investment destinations in Cambodia in the years to come.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on April 24 and 25 at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

Nestled in northwestern Cambodia, Battambang, the leading rice-producing province of the country, has shown some remarkable growth in real estate development over the last few years. While the real estate market is traditionally known for its’ colonial buildings, over 11 residential borey projects have recently been developed, with signs of many more to come.Mr. Ear Veng Mong, CEO of Borey Rom Chek, in Battambang city, has invested over 30 million USD into a 19-hectare borey development, which commenced construction in 2015. In discussing his investment to local media, Mr. Ear expressed that Battambang has great future potential because government officials, and the Ministry of Tourism, are working together to turn the province into a tourism hot-spot.Moreover, Mr Ear believes that “The province is already rapidly developing and already has a lot of people within a ‘medium income bracket', who are able to afford residential housing”. This belief is one of the key reasons Mr. Ear decided to commence development of his residential borey projects.Mr. Ung Sangha, Representative Office Manager of Bonna Realty, in Battambang, reinforces Mr. Ear’s viewpoint, by stating that “Investors cannot overlook Battambang’s investment potential, as [Battambang] is a big province, with relatively good infrastructure, and a population of over one million".However, Mr. Ung believes that the local economy will need to continue to grow, in order for the majority of local residents to afford housing purchases in the province.New infrastructure developments are bringing more population traffic, including the new international border checkpoint in Battambang’s Sampov Loun district - which connects to Thailand’s Sa Kaeo province. This international checkpoint will allow for more cross-border trade and tourists passing through, which will lead to a boost of income for the local population.Further to this, the government plans to expand more highways, connecting Battambang to Phnom Penh and Banteay Meanchey over the coming years. The result will improve accessibility and enable more more trade within the province which has an economy that currently relies heavily on the agricultural industry and little else.Despite Battambang’s real estate investment potential, land prices do not show any sign of rising to the levels recorded in other key provinces, such as Sihanoukville and Siem Reap.Mr. Ung explains that land prices in residential areas are between 60 to 120 USD per square meter, which he believes to be very affordable for local buyers. However, land prices in business areas are between 1,500 USD and 1,800 USD per square meter, and 1,800 USD and 2,200 USD per square meter, in the commercial sector. This dramatic price contrast between residential and commercial areas demonstrates the increasing demand for land within Battambang's central business district.As a result of these competitive prices, more investors are conducting feasibility studies on real estate potential in Battambang. Mr. Ung has confirmed that Bonna Realty has seen a major influx in the amount of inquiries concerning land and property prices over the last six months.Battambang’s investment potential has already attracted more cement firms to establish operation, in response to the growing number of construction companies operating. The 230 million USD Battambang Conch Cement project is set to begin operation in December 2017. Further to this, Thailand’s Siam Cement Group has also announced that it is preparing to open its third cement plant in the province in 2018 which will have a production capacity of 1.8 million tonnes a year once operational. Mr. Heng Tola, a local investor, has been developing both residential and land projects in Taprouch Village in Sangkat Kdol Doun Teav since January 2015. Mr Heng elaborated on his motivations citing; “The reason I invested in these projects is that our country continues to have political stability, and an average economic growth rate of 7 percent per year”.Mr. Heng believes that due to the rising middle-income population, there will be high demand from Battambang locals in the near future looking to purchase a new home.  However, Mr. Heng has already enjoyed significant support from local people, who have already purchased land and houses for residential living in his current projects. He elaborated on the growth of his projects: “In 2015 we started with a total land size of 1.5 hectares, and two and a half years later we have increased our projects up to 20 hectares, with 200 flat houses, one market and one cinema,”Ultimately, Battambang’s real estate agents, and investors alike, are optimistic that the province will attract more local and international investors into the real estate market over the coming years. Active improvements to infrastructure and domestic connectivity will continue to boost investor’s overall confidence in an area which is bustling with opportunity.Search properties for sale in Battmbang and current properties for property for rent in Battambang!