Following Prime Minister Hun Sen’s official visit to the Belt and Road (B&R) Forum for International Cooperation in Beijing last week, good news for Cambodia’s growth as part of a regional economic supply chain has echoed across local and international media.As reported by GlobalTimes.cn, Kao Kim Hourn, Minister Delegate Attached to the Prime Minister Hun Sen, "The Prime Minister's visit has greatly contributed to strengthening and expanding the diplomatic relations between the two countries." And as a result, according to Kao, both countries had reached a series of agreements that “underlined that the Belt and Road Initiative is a long-term strategy that enhances infrastructure, trade, finance and people-to-people connectivity." Mr. Kao also confirmed an MOU between China and Cambodia to revive the nation’s rail transit system. While more-immediate effects of the B&R initiative relate to logistics network development and increased capital and labour flows, experts involved in the Cambodia real estate sector suggest the policy will indirectly boost confidence in the Cambodia real estate market - for both local and international speculators and investors.H.E. Dr. Sok Siphana, lawyer and long-time Advisor to the Government, says that the policy, “directly accounts for the massive influx of Chinese investment in Cambodia. This includes major infrastructural projects such as energy infrastructure.” While on first glance this investment may not seem relevant to real estate investment, Dr. Sok notes that investors view a nation’s longer term growth prospects holistically; hence, “without achieving development in energy efficiencies, international business flows into Cambodia will remain limited.”Sam Yang, CEO of Eastland Development, suggests that the integration policy will increase demand for properties in general and ease worries of a bubble in the property market. Mr. Yang explains, “the Chinese plan to have a regional railway completed, effectively linking the Asian markets directly. Although supply is increasing quickly in the Cambodian property market, we should also see relative demand chasing as the region develops faster than ever.”Jasper Shin, a Taiwanese real estate agent and advisor based in Phnom Penh, shares the same sentiment. Mr. Shin says that, “Within this policy, when Chinese people come to Cambodia, the money also comes. And they invest their money into real estate. So, this is really good for the Cambodian property market. And in the next five to 10 years, Phnom Penh and Sihanoukville will develop faster because of this.”Some also suggest that the policy may have positive effects on the potential for sustainable rental returns in the condo investment market, as a relatively affluent Chinese managerial class enters the Phnom Penh rental market. Victor Chao, Project Manager at New Consolidated Max World (Cambodia) Co., Ltd, adds that, “there are already many Chinese companies in Cambodia now, and those who are in middle management can already afford to rent a condo unit, apartment, or a serviced apartment. If this trend continues and occupancy rates can rise across the apartment and condo market, investors can be more confident regarding the returns on their property investments now.” The property market of Sihanoukville may also see an increase in its number of investments. As a result of discussions regarding the Belt and Road project, a 190km expressway was confirmed last week linking Sihanoukville to Phnom Penh - due to start construction by the end of the year. The expressway will be developed by China Communications Construction Company in a contract worth nearly $2 billion. Infrastructural developments such as this will likely pave the way for faster investment growth on the coast.Find the best real estate news on Realestate.com.kh

What is a Pre-Selling Property?  A pre-selling property is a property released for sale in the market at any stage before the development is completed. This is otherwise known as an off-plan property. Pre-selling properties exist for a few reasons. Developers offer it to finance the construction of the project, while others for an assurance that all units are sold before construction is completed. Some developers do it for both reasons too. But buying pre-selling properties has its fair share of advantages and risks. Advantages of Buying Pre-Selling It’s more affordable – off-plan properties are mostly, if not always, cheaper than buying units that are ready for occupancy (RFO). This is because you won’t be able to use the home just yet! As a reward for trusting the developer, buyers are given extra privileges in the form of a low-cost purchase amount and more flexible payment terms. So, you can pay for the property in instalments as well with little to no interest. Other developers also do special discounts for early buyers, making the property all the more attractive.Great investments – Pre-selling properties mostly increase in value as it is near completion. This can be used to the buyer’s advantage. For example, if you buy a property now in its pre-selling stage and its selling price is $120,000, in about two to three years, once it’s completed, the value can go up to around $150,000. That’s a $30,000 profit for doing nothing except waiting for the development to be completed. But of course, you have to do your study on the property first.More options – Since the property is in its pre-selling stage, not many have inspected the property and bought it. So, as a buyer of off-plan properties, you have more freedom in choosing your unit type, where it’s facing, what floor, and other similar factors. With RFO units, this is hardly the case. You’re stuck with manageable units, at best. Cons of Buying Pre-SellingChanging Terms - Pre-sale contracts can be ambiguous and vague sometimes. It can be subject to further changes, either legally or through a technicality or loopholes. The risk is that you might actually get a unit that’s very different from what you were promised. This includes changes in material, location, layout, size, and finishing. Time Management – A delay in completion and turnover is another risk an investor must look into. Sometimes, pre-sale contracts contain delay clauses that free the developer from responsibility for turning it up on time.  That’s why it’s important to always check the contract.Financial loss – If a developer goes bankrupt or the project doesn’t push through, you’re usually left with nothing. Sure, you can sue them, but that will take quite some time and funding.  Bonus Tips* Even with these apparent risks, the good can definitely outweigh the bad if you are well-advised of the developer and their past projects. So, here are a few things to keep in mind when scouting for properties and you just happen to run across a pre-selling one. Look for developers with a good reputation. Look for reputable agents Get a good lawyer to run through the contract with you to check for any inconsistencies or unfair clauses.Hire the services of licensed brokers to assist you with the process.Verify the legitimacy of the developer with related government agencies and ministries such as the Ministry of Land Management Urban Planning and Construction. Pre-selling properties are great ways to get the most out of your money. With proper precautions and a bit of research combined with these tips, you can make that money grow even further until the next property comes along.  To find more reliable off-plan propertiesClick Here

When it comes to inspections for a new rental property, the bulk of your search and consideration usually revolves around technical aspects of the new home, such as proximity to your office or your kid’s school, your budget, the number of bedrooms and the like – it is easy to overlook some of the smaller but equally important details during the heat of the viewing. What property should you rent in Cambodia? Here’s a checklist, thanks to Realestate.com.kh, to ensure you’re not forgetting anything!Safety First:Regardless of what your agent tells you, be personally responsible for you and your family’s safety when considering any new rental property. Walk around the neighborhood of any property you are considering renting, speak with neighbors (and other tenants if it is a shared building) and come back to the area at nighttime and make sure no hidden threats appear when the sun goes down. Also, always consider the potential for flooding. A 24 hour review is necessary to note any noise hazards too – there may be construction in the afternoon that you never noticed at the morning viewing, or a night club could open at night next door. For a little extra attention before agreeing to the rental contract, you can truly understand the pros and cons of the property.Little Things:Check faucets, door hinges, locks, door knobs, power points, appliances, water heaters and gas cookers before agreeing to rent. Most of the time these things look perfect until further investigation – but if you catch minor problems now, you can ask the landlord to fix them before the agreement is settled.  Photo Evidence:Before agreeing to the bond payment, take photos of every room in the house while it is empty. In these pictures, make sure you evidence any preexisting damage to the property. This way, when your contract eventually ends, the landlord has no grounds to deduct wear and tear damages from your deposit that in fact you weren’t responsible for.Missed Part 1? Find it on Realestate.com.kh! Interested in renting? Check out these properties now!

In last week’s edition we considered some real estate negotiation tips to help you think more laterally in your real estate negotiations and achieve better outcomes. Missed the first tips? Find them online at realestate.com.kh/newsUnfortunately positional bargaining in real estate transactions (that is, focusing solely on a price battle) generally results in poor outcomes for both parties - because everyone gives up the same amount and, therefore, neither party gets what they really want.Thankfully there are other ways to negotiate! Here are some more simple real estate negotiation tips and watch your odds change:3. Trust your judgment and make genuine offers:There is a saying in real estate that ‘time kills deals’ and in a fast paced property market such as Phnom Penh, Siem Reap and Sihanoukville this is definitely the case. As such, we suggest researching the real estate market thoroughly and making an offer that is at, or very close to, your maximum.  By making an offer for what you know the property is worth, you have a strong chance of buying the home, land or commercial property, before other buyers swoop in and offer more. Remember this negotiation tip and don’t get caught out offering less than you know the property is worth - if this occurs you are likely to miss out as more aggressive buyers pay more and close the deal.4. Loose lips sink ships:Never let the other party know how much you have available to spend or what is motivating you to buy during any real estate negotiation; this risks the seller using these great negotiating tactics on you! This is a key negotiation tip in any situation, not just real estate.Similarly, given so many properties in Cambodia are marketed as “Price On Application”, it is very important to always make the seller name a price first before beginning any real estate negotiation. With that information you are well placed to make a counter-offer in proper context of the seller’s price. If a buyer makes the first offer, they are in danger of over-pricing the property from the start and that can only ever result in a bad deal.5. Cash is king:Sellers hate any uncertainty in a deal and offers made ‘subject to finance’ can be a deal breaker when a competing offer is for cash – even if the offer is for less. This is why it’s critical to have your finance arranged and be ready to settle on a deal very quickly once the price is agreed. See the bank BEFORE you see the seller! Cash is always king in real estate negotiations, in any country, but especially in Cambodia. Being able to offer cash gives the seller absolute confidence in your offer and this is often worth more to a seller than a higher offer that may never settle.Keep these real estate negotiation tips up your sleeve, and you will secure you dream property in no time; on YOUR terms, not the sellers!Want to learn more about how you can make money by investing in real estate wisely? Get on Realestate.com.kh today, the best source of information for property buyers & Sellers in Cambodia.

Sihanoukville has been the center of many discussions lately because of the various infrastructure upgrades and modern developments popping up.Some of these projects are D’Seaview condo, a new highway from Phnom Penh to Sihanoukville, the Sihanoukville Special Economic Zone, and the Sihanoukville Airport expansion project. And it is these same developments that are paving the way for new investment opportunities to flow into the area – particularly as “Cambodia’s next real estate boom town.”Adding to its potential as an investment hub is the government’s coastal development master plan which aims to protect and maintain the ecological assets of the area, further promoting tourism. There’s also the 3,300 hectare-land-concession project at Ream which will see the rise of a hospitality zone for tourists and even locals. But the topic of investments can be tricky at times, especially for a market that’s just beginning to rapidly expand. That’s why Camhomes put together an event that aims to shed light into the current situation of Sihanoukville and how investors can take advantage of it.The event will be held on the 10th of March, 2017 at D22 – Tama Hotel Phnom Penh Tower. It will start at 6pm and will be graced by esteemed speakers, Mr. Tom O’ Sullivan – Director of Realestate.com.kh -- and Mr. Kuoch Lengkheang, PR & Marketing Strategy manager of Camhomes.Find the latest real estate news now on Realestate.com.kh

(A sample of Cambodian property ownership title)Cambodian land title classifications can be rather confusing to a new property buyer. That’s why we’ve come up with a simple guide to the 4 different property titles you need to know. Before we get started, we have to note a fundamental rule when it comes to talking about land property/ownership in Cambodia: According to Cambodia’s constitution, only Cambodian nationals can own land and landed property within the Kingdom.Now that’s out of the way, let’s explore the main ways property ownership can be secured in Cambodia.Property ownership can be secured by one of the 4 main forms of Cambodian property titles, namely: Hard Title, Soft Title, LMAP Title, and the Strata Title. We’ll give you a quick rundown of the important points to remember below.Types of Cambodian Property Titles:Hard TitleHard title is the strongest form of property ownership in CambodiaIn the rare occurrence that a disputed land has both a Hard Title and a Soft Title, the owner of the Hard Title will win the dispute. Hard title is a land ownership certificate provided by the Land Management and Planning office.Hard titles contain detailed information that has been duly recognised and certified at a national level with the Ministry of Land and the concerned cadastral office.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Hard Title transfer.The facilitation of a Hard Title transfer usually takes up to 12 weeksForeign nationals are constitutionally prohibited from obtaining Hard Titles.Soft TitleSoft title is the most common form of ownership and the most commonly issued Cambodian land title as the transfer taxes and fees are cheaper than a Hard Title.It is estimated that 85% of Cambodian property owners only have Soft Titles to back up their property claims.It is a Cambodian land title that is recognised at the local government level (Sangkats & Khans)Soft titles are provided by the local Sangkat or District office and are not registered at a national level - but are still considered a valid legal document of ownership. Soft Titles are relatively cheaper and quicker to acquire for CambodiansEstimated to take anywhere between 10 to 12 working daysForeign nationals are prohibited from owning a Soft TitleLand Management and Administration Project (LMAP) TitleThe LMAP Title is another property ownership title issued and recognised on a national level by the Ministry of Land Management, Urban Planning and Construction (MLMUPC) - along with the relevant cadastral offices.The main difference of the LMAP Title from a Hard Title is its inclusion of the exact GPS coordinates that determine the boundaries of the property in question.LMAP Titles can only be obtained on land that has been indexed on a cadastral map. So, if a plot of land has not yet been indexed, an LMAP Title cannot be issued for that property.If the MLMUPC is presently undergoing the necessary LMAP titling process in your village or area where you live, 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.It is possible to own a Hard Title without an LMAP Title due to the above-mentioned limitationA Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the LMAP Title transfer.Foreign nationals are not permitted to own an LMAP title.Strata TitleStrata Title is a special title commonly used for condo unit purchases which is available to both Cambodian nationals and Foreign nationals.There are other mechanisms not necessarily involving a Strata Title available for property ownership for Foreign nationals which you can see in our investment guide.Strata Titles can only be granted if the property in question satisfies these criteria: Only applicable to buildings constructed in 2010 and beyondForeigners can only own 70% of the total surface area of the building or propertyStrata Titles cannot be issued for properties on the ground floor and/or undergroundStrata Titles cannot be issued for any property within 30km of the nearest land borderPrivate Ownership in co-owned buildings (also known as Strata Title) is the most recent form of ownership and allows foreigners to legally own property in Cambodia.Strata Title is a less common Cambodia land title, but the numbers are growing fast.Most new condo development projects offer this type of title to accommodate foreign demand to own property in Cambodia.The Law on Foreign Ownership’ was promulgated on 24 May 2010. This law limits foreign ownership to co-owned buildings. Foreigners still cannot own land, as it is unconstitutional.Co-owned buildings are defined as a building or construction in which several owners reside (eg. a condo complex or office tower), consisting of some parts that are the exclusive ownership of each co-owner (private units) and some other parts that are common spaces for the common use of co-owners (common areas).Strata Titles are issued by the Ministry of Land Management, Urban Planning and Construction. Which means Strata Titles are recognized on a national level.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Strata Title transfer.How to Transfer A Property Title in CambodiaWhen you purchase property or land, it 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 the necessary consultations with relevant agencies.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 must obtain the original title certificate from the seller to verify their genuine ownership.The buyer will then verify the title certificate with the Land Office at the MLMUPCThe Land Office will inform the buyer if there are any liens (debts), mortgages or other claims registered to that property.Relevant Government Agency: Land Office at MLMUPCEstimated time to completion: This takes approximately 10 days (should occur simultaneously to steps 2 and 3)Step 2: Obtain information on the propertyThe 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/property. 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 completion: This should take approximately 10 days (we advise that this be done in parallel to Steps 1 and 3)Step 3: Obtain the certificate of incorporation and official documents from the sellerIf 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/notarised 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 special power of attorneyA Resolution signed by the Board of Directors from that company authorising 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 completion: 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 isThe Company’s statuteThe Company’s Certificate of Incorporation (obtained in 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.Step 5: Pay transfer taxA 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 1200 sqm, the surplus of the land will also be subject to “unused land tax.” For land less than 1200 sqm, 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 dayStep 6: Return to the cadastral office to complete the registration processAfter all relevant 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/thumbprinting 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 the transfer tax. (obtained in Step 5).Step 7: Obtain the certificate of title from the Municipal Land OfficeObtain 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 parties.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by:

Siem Reap is a prime tourist destination in Cambodia and serves as a doorway to the historical site of Angkor. Each year, visitors from all over the world travel there to explore Angkor which magnificently reflects the 12th century civilization and is listed as a World Heritage site of UNESCO.Aside from being a top tourist destination, it is also becoming an increasingly important spot for real estate investments. The city is now filled with luxurious hotels, beautiful colonial buildings, impressive handmade crafts, nightlife, and much more.An increasing number of people are considering purchasing land in this province. What is there to know about this area and why is becoming so attractive?Location:The city is located around 314 kilometers northwest of Phnom Penh, and is well connected by the National Road 6, which will take you to the city in less than 6 hours. It has a total area of 10,299 square meters and the province has 11 districts, 1 town, 13 Sangkat, 87 communes, and 921 villages. Siem Reap is a true natural beauty: is settled in southern Tonle Sap -- the largest lake in Southeast Asia. The lake serves as a shelter to hundreds of bird and fish species and without any surprise, the lake was recognized as the first Biodiversity Conservation area by UNESCO back in 1997.The area is also home to the Cham and Vietnamese communities living in floating villages around the lake.The fascinating Siem Reap city center that includes many luxury hotels, beautiful colonial buildings, a buzzing Pub Street and nightlife, markets, crafts and much more...The potential of this area is significant with strong growth potential in the tourism and service sectors as well as craft production, fisheries and of course real estate.Growth of business in Siem Reap:Pub Street is probably the most famous street of Siem Reap: it has the highest concentration of bars, pubs, karaoke places and restaurants. As a result of a combination of tourism growth, progress, and F&B businesses, pub street and the road nearby, are in high demand for their retail spaces.Although the real estate sales in the area aren’t that many, the leasing of activities has increased and became one of the major sources of profit for the area.Real Estate in Siem Reap:In 2015,  the price of Land in Siem Reap increased by 5% to 10% and growth in the ring road area up to 15%. So far, the city center has been the main target for real estate investments; This includes four major Sangkats: Slorkram, Svay Dangkum, Salakamreuk, and Korchak.Tourism, hotel, entertainment, retail and service sectors have had a positive effect on the area’s economy. Although rental has grown rapidly in the four sangkats in the last 10 years, the real estate market of Siem Reap is said to be developing in a healthy way.Land prices in Siem Reap:Year after year Siem Reap is still one of the most attractive destinations for both local and international tourists.According to Mr. Po Eavkong, General Manager of Asia Real Estate Co., Ltd "Land prices will increase by an average of only 5 to 10 per cent this year, the same percentage points as in 2015.”Eavkong also explains that because of this “landed property could fetch between $300,000 to $400,000, or equal to $4,000 to $5,000 per square metre. Meanwhile, along Sivutha Boulevard prices could range from around $2,000 to $2,500 per square metre, with land further afield along National Road 6 falling anywhere from $300 to $150 per square metre.”Sok Sarath, a local estate agent, also believes that Land in Siem Reap is a good investment. He stated that businesses are growing rapidly, the​ province displays many vacant land and residential project developments along the ring road cities are raising.Is it good to invest in land?Kim Heang, president of CVEA said "Investing in Land in Siem Reap, it's suitable for those who have financial means and do not require a loan". He continued, "But if you invest land by borrowing from banks, it might not be the best option if you are looking for quick returns. Although interest rates are only 8 percent a year, it will take approximately 2 to 3 years before you will be able to sell the land and make a profit."What area in Siem Reap is good for investment?Areas with potential for quick profits include development projects alongside the ring road. Businesses along that road are also expanding: hotels, restaurants, private clinics, schools, factories and other institutions. Slorkram, Svay Dangkum, Salakamreuk, and Korchak have also showcased the most dramatic growth in recent years.Why invest in Siem Reap instead of Sihanoukville and Phnom Penh?As mentioned, Siem Reap has seen an increase in business and tourism. Investments in real estate development can already be noticed, and had influence on the city’s growth figures. The land prices here are still lower compared to the ones in Phnom Penh and  Sihanouk Ville. The population is also lower, resulting in a stress free environment with very limited traffic and pollution. Siem Reap is particularly suitable for those looking for tranquility and privacy.Find more investment guide in Cambodia on Realestate.com.kh now!Take 2 minutes to complete our survey and win and IPhone 8!

(Check out our update on real estate scams in Cambodia in 2019)Despite the huge growth in the Cambodia real estate industry, there are still many operators that are conducting real estate scams and misinformation for a quick profit. Here is a list of the most common scams in the market, thanks to Realestate.com.kh. If you ever think you might be getting scammed, seek professional legal advice!The Double Title Scam:Properties in Cambodia come with soft titles and hard titles. Sometimes a property may have both. This scam involves an owner selling the house to two buyers. One buyer gets the soft title and the other gets the hard title. The person with the soft title loses the house because soft titles are only recognized in the local government, while a hard title is recognized at a national level. There have also been cases of multiple titles being issues, or forged – and sellers selling the same property to multiple people. There is a possibility that the buyer with the hard title is involved in the scam, but that is not always the case.You can avoid this scenario by making an inquiry with the Ministry of Land Management, Urban Planning and Construction and the local government office managing property registration. Get a copy of the title from the seller and check it against official records.Another safety precaution is to check whether the neighbors have hard titles. If they do, this means that the government has already titled the area. Buying a soft title in a place where most neighbors have hard titles is not advisable.Hidden Land Disputes:Having a soft or hard title in this scam is hardly relevant. This scam involves the property standing on a land with an ongoing dispute. Usually, talking to neighbors reveal this issue. But you should also conduct a title search through a commune council official or the Ministry of Land just to be on the safe side. A professional real estate agent will do this on your behalf, or a lawyer with experience in property transactions.Deposit Disappearance Act:This scam is done by a fake owner. A buyer is asked to pay a deposit to secure the property. The seller then disappears after receiving the deposit. You may opt to pass the deposit through a reliable third party or an intermediary escrow bank account until everything is settled to protect yourself from this.Want to learn more about how you can make money by investing in Property in Cambodia? Get on Realestate.com.kh today, the best source of information for property buyers & Sellers in Cambodia.Work with the best and safest agents: find them here!

Realestate.com.kh is pleased to release the results of the 2016 Realestate.com.kh Consumer Sentiment Survey. The survey reveals key information for investors, developers, retailers, financial institutions, insurers and personal home buyers and sellers.The intention and scope of the December 2016 survey was to dig deeper into the hearts and minds of Cambodia-focused real estate consumers in regards to their perceptions of the market and their current spending and borrowing habits. By doing so, the survey allows us to predict future buying and selling trends in the market.The responses revealed a generally positive attitude towards the real estate market of the Kingdom, which is currently perceived as growing, improving and, more importantly, a target for investment. As a matter of fact, almost 80% of those surveyed believe that purchasing a property in Cambodia represents a good investment.However, the survey has also produced data that suggests many consumers perceive a series of weaknesses in the market - namely in regards to the current affordability of property (especially for local buyers), the need for financing for property purchases, and gaps in the market regarding professionalism and transparency in the real estate sales and valuation professions.Download the Full ReportMethodologyThe survey was distributed over email to the Realestate.com.kh database of both local and international subscribers. It was also featured on the Realestate.com.kh website for a two week period, and shared on the Realestate.com.kh facebook and Linkedin. We also had guests to the Realestate.com.kh display booth at the Cambodia Construction and Property Expo at Koh Pich Exhibition Center in December 2016 complete the survey.In total, 5000 respondents completed the survey in the space of just two weeks of December 2016.The survey was available for respondents in two languages, English and Khmer, depending on the user’s preference. The results of the English and Khmer surveys have been tallied separately for one data set, and together for an aggregated data set.To date, this is the most comprehensive real estate consumer sentiment survey ever conducted in Cambodia.The following are the key results of the survey:AffordabilityUnderstanding the financial capabilities of the potential buyers is crucial in order for property developers and agents to shape their property product correctly for their target markets, and predict future needs and trends of that market. It is also valuable information for finance providers attempting to understand the needs and means of the home lending market in Cambodia.When asked “How affordable is housing in Cambodia?” respondentsreferred to local property as “moderately unaffordable” (34%), “affordable” (28%) and just 16% stated that is “moderately affordable”.However, it is important to note that the survey was distributed in English and Khmer. Upon analysis of the non aggregated data set, we can see that the price perception of the real estate market greatly differs among nationalities. The majority of those who have filled the survey in English (37% in total) have described the market as “affordable;” whereas more than half of the Khmer respondents stated that the market is “moderately unaffordable”.Price Increases in the MarketThe investments of property developers have been highly visible around the capital of Phnom Penh in the past year, greatly increasing the local supply. Other urban centers such as Siem Reap and Sihanoukville have also seen increased investment in the residential sphere, albeit incomparable to Phnom Penh.Yet prices for end buyers do not appear to be dropping across the market despite this new supply.More than half of those who took part in the survey suggested that they have seen a general increase in property prices over the past 12 months (58.6%). Furthermore, 54.6% off all respondents expect property prices to continue to rise in the coming 12 months.What is interesting to notice is that although the imminent price rise perception, regardless of this, almost 80% of the participants believe that now is a good time to purchase a property in the Kingdom.Almost half of the respondents (45.4%) stated that they fully own the properties they reside in. Meanwhile, 30% of all respondents are currently renting and are considering purchasing a property soon. In fact, an impressive 70% of all respondents surveyed showed great confidence in the local property market by declaring that they are considering purchasing a property in the coming 12 months.This divergence in the perception of affordability of property is likely to depend on the difference in household incomes between Cambodian Nationals and non-nationals. When analysing the customer's profile results, almost half of the Khmer respondents’ income fell into the less than $500 per month category (42%), and 30% of all Khmer families fell into the $500-1000 monthly household income bracket.In comparison, only 15% of non-Nationals stated to earn less than $500 per month, 30% earn between $500 and $2000 per month, and 15% stated to earn over $10,000 per month in total household income.In conclusion, property in Cambodia is generally affordable for international residents and investors; whereas it is still moderately unaffordable for Khmer nationals.Buying PowerIn terms of buying power, more than half of the respondents (67%) have less than $70,000 to spend on a property; 13% of respondents have a budget ranging between $75-$100,000; and another 13% can afford a property between $100-$200,000.  Lastly, a lucky 3% can afford properties between $200-$300,000, and 3% are able to invest over $300,000.According to the results, 35% of respondents have enough liquidity for a downpayment of 10% for any property purchase, but almost 30% of the potential buyer pool do not expect any down payments whatsoever; 17% can afford a 20% deposit and just 12% can put down 30% for the deposit.Yet, naturally, these figures differed in regards to English respondents versus those completing the survey in Khmer. Of the Khmer respondents, 36% expect no down payment; 36% expect only 10% down; 14.4% expect 20% down only; and just 9.5% can afford to put down 30% on signing.In comparison, of the English language respondents (which naturally includes non-Nationals and investors), 28% are able to put down a 30%+ deposit.These statistics would suggest many of the new development products on the market needing initial deposits of over 20% of the total unit price, especially in the prime condo market, are largely out of reach of the local market’s buying power - with or without financing.Home Loan Needs and MeansA positive result has been shown for banks in Cambodia, with 69% of those surveyed saying they will require a mortgage in order to purchase a property.When asked which banks they are likely to approach for a mortgage, the result showed a wide spread: Acleda ranked first with 22%, followed by ABA with 18%, ANZ 15%, Canadia 13%, Maybank 11.5%, CIMB 11.2%, and lastly Hong Leong with 9%.The wide spread of results regarding consumer bank preferences is likely to be explained by the dominant factor for those shopping for a home loan being the interests rates offered by that bank. After this, home loan consumers noted that “industry market knowledge,” “response time” and lastly “bank fees” may influence their decision on which lender will be preferred.These results suggest that home loan demand is expected to increase and that there is still room for improvement for the banks in terms of interest rates and customer support. Further, those projects supported with sound financing terms, either internally or through an external bank partner, will naturally have an advantage in the market.Are Cambodian Properties Insured?Only 26.6% of home owners currently have house insurance. Regardless of a very low rate of insurance penetration, 59.5% of those surveyed still think that this is a good time to purchase major household items, giving insurance companies market opportunities in the year ahead.Investment PreferencesWhen asked about the purpose of purchasing a property in Cambodia, the respondents opinion almost fell in the middle: 53.3% wish to purchase a property to live in, while 46.7% is buying as an investment.Land is the preferred type of property to invest in, as selected by 24% of the respondents, 23% of respondents are aiming to acquire a condominium unit, followed by 22% aiming for a shophouse and 18% for a villa.When asked whether they would rather buy an independent house, a home in a borey development, a condo in a new development or land in a plot land project, respondents favored and independent house (35%), borey (26%), condo (22%) and finally plot land (16%).Without any surprise, Phnom Penh (65%) came as a first choice for those interested in purchasing a property, followed by the fast developing Sihanoukville (15%) and world famous tourist city of Siem Reap (10%).Investigating further within the preferred areas of Phnom Penh city: Toul Kork, Chamkarmon and Chroy Changvar were the most popular locations to buy in; and Russey Keo and Prek Pnov coming in last as the less desirable.The dominant factor that influences the property of choice is location (50%). This is followed by the return on investment (20%), price (16%) and surrounding infrastructure (10%).How do Consumers Find Property in Cambodia?The vast majority of the respondents (71%) start their property search online. This does not come as a surprise, as according to wearesocial.com, internet penetration continues to rise in Cambodia and is now used by a third of the population - and increased by 32% since March 2015. Hence, the internet is rapidly being embraced by real estate agents/developers, and end buyers and renters.However, there remains a mix between online and offline searching for property in Cambodia - with 17% of the respondents preferring to visit real estate agents directly and 12% relying on advertisements in newspapers and magazines.Real Estate Agents play an Important roleAccording to the results, real estate agents still play a significant role in the house hunting process. However, respondents showed some clear concerns.Although commission scheme plays a big part in choosing an agent, honesty and professionalism are the key characteristics that customers are looking for when selecting their property sales representative.Further, consumers generally seem to be particularly concerned in regards to the unregulated nature of the Cambodia real estate market: 45% of all respondents wish to see a standardized valuation pricing, 38% a compulsory real estate agent license, and 18% wish to see regulated commission schemes for the agents.ConclusionFor all those that took the time to complete the 2016 Realestate.com.kh Consumer Sentiment Survey we offer our most gracious thanks. The insights that your 5 minutes of time have offered the market are extremely valuable; and creates data with the potential to improve the real estate industry across Cambodia - and Realestate.com.kh’s service as the leading online source of real estate in the Kingdom.With information on what is driving consumer decisions - agents, developers, banks and insurers are better able to provide products that the market will value. And likewise we are able to tailor our website services to better serve your needs. Download the Full ReportStay tuned to Realestate.com.kh for more market-leading research and data over the course of 2017.

Preah Sihanouk province or generally known as Sihanoukville, is located at the south-west corner of Cambodia. It is 230 km from the capital city of Phnom Penh. It covers a total of 2,536.68 square kilometers where two-third of the total area are hill and plateau.Now, Sihanoukville has become significant part of the country’s economic growth. With the stability of its economy, it is also attracting foreign investments into the province, which is also affecting the land market. For this reason, before buying land in Sihanoukville, it’s important to understand the local market to make sure you get your investment worth.How much is land in Sihanoukville selling for?According to Mr. Den Sakal, CEO of Universal Real Estate in Sihanoukville, land in Sihanoukville is divided into three major areas -- agricultural land, downtown land, and coastal land.Agricultural land refers to the area where residents are living and doing their farming. This type of land is located farther from the town and beach. The price of this type of land also remains lower compared to other two areas. Meanwhile, downtown land is crowded and is not far from the beach, and is generally good for businesses since this is where all the commercial activities happen. This allows the land price to go higher than in the agricultural area. However, buying land here is still lower than the coastal land area where the beach is the key factor for tourism, residence, hotels, restaurants, and other leisure activities.Sakal mentioned that in terms of land price, agricultural land starts at $5 and can go up to $25 per square meter. Downtown land has an average of $400 to $700 per square meter, whereas the coastal land where there is high potential, prices range from $700 to around $1,200 per square meter.What types of land titles are available for land in Sihanoukville?Sakal said that there are both hard titles and soft titles being used in the entire province. But soft titles do not hold the same security that hard titles do. Some areas have been issued hard titles by the land office. But some still don’t have hard titles. However, every land that carries a soft title can be also applied to get a hard title.Soft titles are still generally accepted without any problems. However, before buying any land asset, is better to ask for a hard title. If it does not exist, then check with other villagers in the area to make sure you are buying a secure land.Where should you buy land in Sihanoukville?Sakal says there are a total of 4 districts in the province. These are Sangkat 1,2,3 and 4. Sangkat 1 is far away from the other three. If you plan on investing in this sangkat, meaning that it might take longer to see the return on your investment, compared to the rest of Sangkats. The other 3 sangkats are quite  busy in terms of business, commercial activities, and tourism. It’s more convenient for both living and selling back in this area -- especially in Sangkat 4. It is the top area for tourism. It houses the Ochheuteal Beach, Otres Beach, Sokha Beach, and the upper market (Phsar Leur).Why should you buy land in Sihanoukville?The potential for investment in the area is huge, in terms of residential development, industry, business, and tourism. So, regardless of whether you buy properties here for living or for future resale, this area appears quite promising.Additionally, Sihanoukville is seeing the rise of many new housing developments such as D’seaview, Blue Bay Sunshine Bay, Royal Bayview and Blue Sky Tower. Other than the residential sector, there are also many already existing developments here such as ports, the Sihanoukville Special Economic Zone (SSEZ), the airport and tourism sites. And it is expected to welcome  even more new developments in the upcoming years.Moreover, today accessing Sihanoukville is much more convenient with options like using the National Road No. 4 and the railway which have direct access to Phnom Penh. All these factors provide constantly good opportunities for land investment in Sihanoukville.Can expats buy land in Sihanoukville?According to the land law of Cambodia, foreigners are not allowed to own land and landed property in the country except through a strata title. However, strata titles for residential units are only applied for co-owned buildings and foreigners can only own units above the ground floor.However, there are exceptions that foreigners can utilize to own land in the country such as marrying a Khmer, becoming a Khmer national, leasing long-term, using a nominee structure, forming a landholding company, or applying for a concession.What are the legal aspects I need to know before I buy land in Sihanoukville?No matter what methodology you use to find land Sihanoukville, just make sure you find land with no hidden conflicts, and no hidden leasing or buying. But it may be stressful to check these details if you are a newcomer to Cambodian real estate. As a recommendation, seek the assistance of local agents to help you find the perfect property. In term of the law, real estate agents are very knowledgeable about the area and can handle those things for you. Your stress will be relieved.Looking for land for sale in Cambodia? Find it on Realestate.com.kh

Kicking off the 1st quarter of the year, the 2017 Real Estate & Construction Forum gathered property experts and enthusiasts from all over Cambodia and the world to achieve a common purpose. To advance in their knowledge of the industry. As such, speakers like Tom O’Sullivan – CEO of Realestate.com.kh – came out to talk about matters of grave importance. And one of those is the rapid growth and potential of Sihanoukville.Sihanoukville Investment prospects appear to be growing steadily in 2017. But what is so special about Sihanoukville and why should people start taking it seriously? Realestate.com.kh gives you the lowdown from Tom O’Sullivan himself.Why is everybody suddenly moving to Sihanoukville and considering Sihanoukville Investment?For one, O’Sullivan said that initial steps of the proposed master plan are already being completed. He mentioned that there’s actually a plan to conserve Sihanoukville’s natural resources and although this is giving difficulties for some businesses, ultimately it will benefit Sihanoukville. New developments and international names already include D’Seaview, Blue Bay, Royal Bayview, Sunshine Bay, Novotel, Marriott, Grand Mercure, Alila, and the Six Senses.Casinos are also making their way to Sihanoukville, granting multiple licenses to build and operate in this area. O’Sullivan mentioned that these developments build the confidence of investors and developers.He also added that infrastructures such as highways, roads, and port expansions are driving additional interest for other businesses because they not only aid travelers but connect other areas to Sihanoukville to either access its beaches or the SSEZ which employ thousands upon thousands of employees.Find out more about Sihanoukville Investment in our comprehensive location profile!Have these changes been visible to the consumers?In an attempt to look at the situation from another angle, O’Sullivan explains that Realestate.com.kh also conducted its own research to get a better understanding of the perceptions of the consumers.Around 5,000 people took part in the survey, which O’Sullivan says is a testament to the continued interest in properties in the country. The survey also showed that around 73% of the survey respondents are interested in buying in the next six months, and the majority estimates a budget of $50,000.With over a million people surfing the Realestate.com.kh site yearly, analytics have revealed that while Phnom Penh remains the most popular area for property seekers; However, taking 2nd place for the most searched area is Sihanoukville province.This is substantiated by inquiries from their customer base which O’Sullivan says grew to 25% in 2017, from 10% last year. He stated that most of those inquiries are from customers wishing to buy in Sihanoukville, especially for land. Most of these are Chinese investors. O’Sullivan quoted Juwai.com, a famous Chinese property portal, which suggests that 57% of Chinese consumers actually plan to purchase properties in countries in which they’re traveling to.So, will Sihanoukville overtake Phnom Penh?To realize the magnitude of the market slowly shifting towards the Sihanouk province, O’Sullivan first explains that the Phnom Penh market still enjoys a great property climate. In fact, the consumer sentiment survey shows that Phnom Penh is still the "first choice for those interested in purchasing a property" – leading at 65%, whereas Sihanoukville is at 2nd place with 15%.All in all, Sihanoukville has an attractive property market not because it’s safer for investment than in Phnom Penh. It is an attractive market because it is continuously building itself with its own character, with both a tourism and industrial focus, setting it apart from both Phnom Penh and Siem Reap. Thinking of investing in Sihanoukville? Look at the latest developments in Cambodia's premier resort town now!

If you're looking to buy or invest in condominium property in Cambodia, it's important to understand the steps involved. Whether you're a local buyer or an international investor, in this guide, Realestate.com.kh will break down the basic buying process in short article with simple terms to help you feel confident and prepared.Here’s a step-by-step look at what to expect:1. Unit Selection & BookingFirst, choose the property or unit you like. Once you've made your choice, you'll usually pay a booking fee (between $500 and $2,000) to reserve it. This takes it off the market while the paperwork is prepared.2. Review the SPA (Sales & Purchase Agreement)Next, you'll receive the Sales & Purchase Agreement (SPA). This is a key legal document that explains the terms of the sale, the developer’s responsibilities, penalties for delays, and when you’ll receive the title. It’s important to read everything carefully or get help from a legal professional.Further reading: Understanding the Sales and Purchase Agreement (SPA) in the Cambodia Real Estate Market3. Sign the SPAOnce both parties agree to the terms, you and the seller will sign the SPA. This makes the deal official and legally binding.4. Downpayment Right after signing the SPA, you’ll make a down payment—usually the amount is according to the condition of payment method and the percentage of the total property price.Further Reading: Common Payment Methods for Buying Properties in Cambodia5. Payment ScheduleThe rest of the payments will follow a payment schedule, which depends on the stage of the project. Payments may be monthly, quarterly, or based on construction milestones. The developer will provide this schedule.6. Ownership RegistrationAfter you’ve paid the full amount and the unit is finished, you can register the property under your name with the Ministry of Land Management, Urban Planning and Construction (MLMUPC). This step gives you official ownership.7. Handover & Key CollectionFinally, you'll collect your keys once the property is complete and inspected. This is also when you should do a final check for any defects or issues and have them recorded before you move in as well!In short, buying a property in Cambodia doesn’t have to be complicated, especially when you have the right support. If you’re unsure about any of the steps above, feel free to let our professional agents guide you through all the process from start to finish smoothly!Additional reading: 50 Must-Know FAQs for Real Estate Investors in Cambodia-Contact us now via- 📞+855 92 92 1000📧 info@realestate.com.khOr come and visit us at The Connect Center- Opening hours9:00 - 5:00  Monday-Friday 10:00 - 5:00        Saturday - Sunday Location: #306BCD,Monivong Blvd (93) Sangkat Chakto Mukh, Khan Doun Penh, Phnom Penh

Scouting for your dream home can be an exciting process, but it can also be a disheartening one if you have your priorities mixed up. This is true when deciding whether or not to get a home loan first.There’s a general notion that home shopping should come before applying for a loan. But is it really more efficient?Sure, you might think that knowing the cost of a home first would serve you well because you can get a ballpark range as to how much financing you’d need to get. But buyers are usually disappointed after going down this route. Banks are not magical wallets you can take money from any time you want to. There’s a limit that banks set, depending on their evaluation of your application. And there’s a computation they have to base the loan amount off of. Sometimes that means they can only approve half of the price of your desired home. This can be disappointing for some, especially if you’ve already gone through an exhaustive search for properties.Pre-approved loans also save you more time. Instead of waiting to get your loan approved to purchase the home, you can get bargaining power by having the money at hand already.Knowing how much you can spend gives you a more realistic perspective. You can then budget your finances. This removes any oversized fantasies and gives you the ability to adjust your home shopping flexibility, leading you to revisit your checklist to see which features of the home you really need.This also helps you plan out your future expenses after the purchase of the home, like mortgage interest rates, and out-of-pocket home repairs you’d be willing to pay for as well.Should you decide to get a home loan pre-approved, you’re also opening yourself up for better opportunities you may not have been aware of. Loan officers have many interactions with people in the same situation as you. They can offer you practical tips and advice on several topics from their own experience. It also allows you to study the loan terms better instead of rushing through it once you’ve already found your home.Want to learn more about how you can make money by investing in real estate wisely?  Get on Realestate.com.kh today, the best source of information for property buyers & Sellers in Cambodia.

Considering an investment in Cambodia, especially with high-rise condo developments, may be a wise decision, especially in view of the economy of the country, which has been continually growing in the last several years.According to the National Bank of Cambodia, Foreign Direct Investment (FDI) during 2016 increased to $2.15 billion, a 25% increase compared to the year before.However, we understand that buying a property is a big decision, and you might have some hesitations. For this reason Realestate.com.kh is here to help you in getting to know better the local market.Does Cambodia have a stable economic growth?The Asian Development Bank refers to Cambodia as the “Asia’s new tiger economy.” In fact, Cambodia is now one of the fastest growing economies in the ASEAN region. The country’s gross domestic product (GDP) has been growing by 7% each year since 2011 and is expected to keep moving at that pace through 2017.What types of condos are you looking to invest in and how much are they?Ownership Laws Cambodia: Condominiums are the only residential houses which are available for foreigners to purchase for ownership in Cambodia.Developers have divided condos into three types, including: low-end condo, middle range condo, and high end condo which are available. These are newer projects that have been built to cater local and foreign investment.According to CBRE Cambodia’s quarterly report for Q4, low-end condos have an average starting price of $1,550 per sqm and mid-range condos start at an average of $2,700 per sqm. Meanwhile, the average starting price of high-end condos start at $3,000 sqm.The report also states that Cambodia’s average condominium price is at $3,000 per sqm, significantly lower than Ho Chi Minh’s $4,000+ per sqm and Bangkok’s $6,000 per sqm.What facilities will the condo unit include?Buying any new condo unit in Cambodia also entitles owners to access different facilities such as for instance the parking lot. Other facilities such as tennis courts, residents’ lounge, multi-purpose room, BBQ areas, reading rooms, steam/Sauna, gymnasium, swimming pool, spa pool, security services, and children's playground might also be in place depending on the condominium.What are the hotspots for condominiums in Phnom Penh?When talking about prime locations for buying condo units, investors or buyers should look at the three hotspots OF the capital of Phnom Penh. These include Boeung Keng Kang in the Chamkarmon district, Boeung Kork in Tuol Kork, and some areas in Duan Penh. These popular areas are brimming with a variety of low-end to high-end condo developments.There areas are also popular due to the are many amenities that can boost your quality of life. Businesses and entertainment facilities include restaurants, pubs, bars, coffee shops, karaokes, clubs, fitness centres, international schools, standard hospitals, clinics, tourism areas and many other service-centered businesses. These areas are also generally classified as more modern and peaceful.Just walking around the area helps if you’re interested in buying and want to take time to understand the characteristics and features of each area before you make a decision.What’s the importance of internal regulations and professional property management for your condo investment?Investors and buyers need to take into account the internal regulations and the management services of a condominium before purchasing condominium units.Checking out the internal regulation reveals the rights and obligations of your unit. This is where you learn the locations of common areas, private units, and the conditions of use. It also helps you understand costs related to cleaning, maintenance, and repairs of the common areas.Property management is the management and control over common areas and services offered in the condo. Property management companies will take the overall control of the property on behalf of the owner for things such as cleanliness, maintenance, and all necessary repairs.When you’re considering purchasing a condo, it’s recommended for you to consider a professional and experienced property management firm to handle financial, legal and technical issues. Also consider firms that have a wide network to ensure that the condominium runs efficiently.Failure to do so can strongly affect the real estate asset as internal rules and condominium management can have significant impacts on the value of your condo units.Can foreigners own ground floor unit in Cambodia?Ownership Laws Cambodia: Foreigners can own any property in Cambodia however, there is a limit in ownership rights. According to the Foreign Ownership Property Law, foreigners can only own properties from the first floors up and up to 70 percent of a condominium building.A “Strata title” is applied as an ownership title for foreigners who buy a condo unit in Cambodia. It’s is a type of hard title that is used for a co-ownership building. It’s now applied to all the new condo development in Cambodia.What are the taxes on ownership of Cambodia’s condo?When buying a unit from a developer, you need to transfer the strata title which costs around 4% of the value of the property, where the value of the property is evaluated and set by the cadastral official.Do you know your guaranteed rental returns?There are many new condo developments offering “Guaranteed Rental Returns” to their customers. The standard net returns being advertised by condos and new developments runs from 4% to 9% a year for about two to five years. Some developer will also offer up to 20% and even more for short-term period rentals.Make sure you do your research before purchasing a condo, it will help you maximise your investment!Check the condos available in Phnom Penh here.

SOMA Construction and Development Co., Ltd is a subsidiary of SOMA Group Co., Ltd and is now working as one of subcontractors under supervision from main contractor,  HYUNDAI Engineering (Cambodia) Co., Ltd. for the reinforced concrete works Zone A of the AEON Mall 2 -- covering 4/10 of the entire project area.And just recently, SOMA Construction and Development has also been awarded the contract phase 2 related to decoration work, which is the masonry and plastering works at zone B.  Getting more projects and gaining strong confidence from the market is not easy and definitely does not happen by accident.In fact,  the company is strictly studied about prequalification on both technical and financial capacities before invitation to tender from headquarters of Hyundai and the AEON Mall.,What are the key factors of SOMA Construction and Development Co., Ltd. that HYUNDAI Engineering came to trust?Major achievements of SOMA Construction and Development: the company has completed a range of projects and is now doing construction, design, project management for both national and international clients such as Phnom Penh International Airport, Niroth Water Production Facilities  from French main contractor ,Vinci Construction Grands Projets, Lumiere Hotel from Singapore, The Heritage Walk, which is the biggestmall in Siem Reap province, and one18 Residences, acondominium which has 25 residential stories and 5 levels of basement designed with mechanized car park from Singaporean clients.Human Resources: The company has skilled and highly committed human resources with various areas of expertise and capabilities. This is a significant advantage to ensure the completion of projects on time and with high quality. In order to strengthen the knowledge of their employees, the company has brought an advanced technology called BIM (Building Information Modeling), which is one of the leading programs for engineering and design work. The company also hired professional coaches from Singapore, to train and master the skills of their employees.Focus on Quality and safety: Quality is the greatest selling point of any product or service. However, when it comes to construction, quality becomes the key since it affects people’s way of living. For this reason, SOMA Construction and Development has paid attention to both national and international technical standards to ensure 100% safety and quality of their constructions. By scanning and evaluating in advance any risks allows them to take measures to prevent accidents and other factors that might affect the quality of work. They strictly implement and adhere to the decree and announcements of the Ministry of Environment and the Ministry of Land Management, Urban Planning and Construction. They have safety, security, and quality control systems to ensure the accuracy during work execution. This is also in order to push sustainable development and up-to-date safety and quality management systems. The company's engineers monitor and educate workers regarding safety, hygiene and quality of working performance. In addition, the company also offers free accommodation, electricity and water, safety equipment, and health insurance to their workers. Lastly, the labor fee is paid​regularly to all workers.It’s good to note that SOMA Construction & Development Co., Ltd. offers general construction services for office buildings, hotels, factories, schools, shopping malls, and airports. The company also offers architectural design, MEP, structure,  and project management services. Although, SOMA Construction & Development has been in the construction sector for approximately 7 years, the company has already performed over 50 construction and design projects and employed almost one thousand employees including workers and technicians.If you want to contact SOMA Construction & Development Co., Ltd. Please call (+855)99 777 243 or Email: info@smcd.com.kh or go through their website: www.smcd-construction.com.khFor up to date news and information, visit our news section at Realestate.com.kh now.

Article 44 of the Constitution of the Kingdom of Cambodia implicitly states that foreigners aren’t allowed to own land in the country. However, there are many ways foreigners can buy land in Cambodia.One of this ways is buying land through a locally-incorporated company, either a limited liability company or a private limited company. And, yes, it’s absolutely legal to do so, provided that a Cambodian partner owns 51% equity.Realestate.com.kh lists down all the things you need to know and answers some of the questions that will help you get yourself set up to buy that land in no time!How is buying land through a locally-incorporated company legal?This is made possible because of the provision in the Law on the Investment of the Kingdom of Cambodia. Specifically, Article 16 of Chapter VI.It states that the “ownership of land for the purpose of carrying on promoted investment activities shall be vested only in natural persons holding Cambodian citizenship or in legal entities in which more than 51% of the equity capital are directly owned by natural persons or legal entities holding Cambodian citizenship.”But isn’t that going to be risky?As for everything, there is always some risks. But since it is legal, the only risk you’ll have is with the loyalty and truthfulness of the Cambodian partner you’ve chosen. But there are safeguards to protect your investments, position, and control over the company.For instance, the careful allocation of shares and an appropriate draft that details the rights attached to share certificates will allow foreigners to gain full control over the land. You can also secure a mortgage, a security, and a Power of Attorney document to enforce your authority over the property. Make sure to also keep possession of the registered title deed and the company license.What are the requirements from a locally-incorporated company?Setting up a company requires at least two shareholders, a director, and a starting capital of at least $1,000. Once the positions are filled in, you will need to get a corporate bank account, a real office space through a registered agent, and a local Khmer company name.What’s the process of setting up a locally-incorporated company?You’ll first need to make a deposit of $494 through an authorized bank. Make sure that the deposit slip you get will be safe and secured. Then, for $10, you will need to check for the uniqueness of the name of your company through the Ministry of Commerce. It usually takes around 5 days to get a response to the inquiry.Step two is where you obtain a CIB 01R form or a company registration form either physically via the Cambodian Investment Board or online through their website.Then, you need to get an official company seal through the Ministry of Commerce. This costs around $15.The next step is for the foreigner to publish a company abstract on a reputable and recognized newspaper. The abstract should include the memorandum, the by-laws, articles of association, name of the company, form of the company, office address, summary of business objectives, total capital in cash, term of the company, details of the director or auditor, and the location of the company’s registration. This step takes around seven days in total for approval and release.Make sure to get  2 copies of the application documents and newspaper approval as this is required when you apply for registration.Next, you’ll need to enroll the company into the commercial register of the Ministry of Commerce 30 days before the company starts commercial operations. This requires the submission of 2 copies of the declaration of non-guilty of directors, 2 copies of ID cards or the directors’ and shareholders’ passports, 2 copies of the decision for share contribution, 2 copies of the photos of shareholders and directors, 2 copies of the memorandum and articles of association, 2 copies of the newspaper publication application, 2 copies of the statement of conformity, and copies of the registration application form.After setting up and enrolling the company, you need to get its documents approved and stamped through the Phnom Penh Tax Department for around $26.Then, you have to fill out the required forms and documentation from the Real Regime Tax Office to get your official tax registration.After doing all of that, you’re now set up to operate.Are there any other obligations after setting up the locally-incorporated company?The LLC will need to register for VAT and file annual tax returns after incorporation. Also, 100% of real property costs will be shouldered by the foreigner. As an advantage, 100% of the whatever is made when the property is sold will also go to the foreigner.In addition, the company must notify the Ministry of Labor when it will start operations and when it hires or fires employees.What’s the advantage of buying land via a locally-incorporated company over leasing?There major factor you have to consider when trying to decide between Buy Land in Cambodia and lease for the long-term. With long-term leases, there’s going to be an issue of ownership after the lease expires because there are conflicting laws on it. The Land law states that the building is owned by the landowner. The Law on Investment states that the building is owned by the lessor.When you Buy Land in Cambodia and set up the proper security measures to protect it, there is no doubt that the land is yours even if it is through a partnership with a Cambodian citizen.There are plenty of other ways to Buy Land in Cambodia, but buying through locally-incorporated companies presents as a great legal option. And while it may not be convenient to set up, it will be more convenient in the long run.Check out more ways to own land in Cambodia as a foreigner on Realestate.com.kh now!

Toul Tum Poung has been known for its numerous tourist attractions, restaurants, bars, clubs, shopping and entertainment centers.The fast rise of all these attractions, resulted in a tremendous growth of foreigners settling down in this area.Toul Tum Poung Market is a very popular market in Phnom Penh:  it’s located in Khan Chamkarmon which has one of the highest prices for land. This location is attractive for both living and business purposes due to the the significant amount of sale and rental activities.Should I get furnished or unfurnished Houses for Rent?Usually, homeowners will offer different services and conditions for rentals. Serviced apartments have much to offer for customers looking for high-end property, such as: fully furnished units with hot-cold water, washing machine, kitchen equipment, Internet, and cable TV. Additionally, condos often offer gyms, swimming pools, and parking.However, currently even homeowners of simple houses offer fully-furnished units and kitchen equipment. Getting a fully-furnished rental unit will certainly provide you convenience and comfort, but it will also add to your rental cost.What type of housing is available for rent in Toul Tum Poung?Yim Socheat, Managing Director of CDN Property Co. Ltd, said that housing for rent in Toul Tum Poung includes family homes, Khmer style homes, European houses, villas, and apartments. The rental apartment demand is high for both locals and the foreigners who are staying temporarily in the country.Flats:Socheath said there are two types of flats, commercial and residential. For 1 to 4 bedrooms, the rental price is from $600 to $1,000 per month. While the commercial flat will cost around $800 to $1,500 per month. Prices may vary also, depending on the house condition.Villa:Some villas near the Russian market can be used for both residence and office space. You can get a four to eight-bedroom villa standing on 15 x 26 meters or 16 x 27 meters of land for $1,500 to $2,500 per month.Serviced apartments:Serviced apartments are also widely available in Toul Tum Poung. One-bedroom renovated serviced apartments range from $200 to $400 per month.Rental prices for a normal three-bedroom serviced apartment will cost around $1,000 to $1,500 per month. One-bedroom units for a newly developed serviced apartment ranges from $350 to $800. For a three-bedroom unit, it will set you back $1,500 to $2,500 for 3, according to Socheath.quality, rooms, and amenities such as swimming pools, car parks, security, maintenance services, and internets will play a role in price as well.Why is Toul Tum Poung so popular?Socheath explains that Toul Tum Pong is the most popular area after BKK1 because the cost of living is lower by 30% to 40%.He also says that many people move to the Russian market area because the quality and standard of life is similar to the one in BKK1. He also believes that in the future, Toul Tum Poung and BKK1 will be the same in terms of residential market.This area is particularly attractive because of its fascinating mix of both traditional and modern cultures. Additionally, its close proximity to the market, makes it a great place to shop or buy gifts for family or loved ones.This area has also a very wide selection of restaurants which offer different cuisines: Long After Dark, Divine Pizza and Ribs, Roots and Burgers, Sesame Noodle Bar, CrossFit Amatak Kettlebell Cafe, are only some of the few places that have opened in the area.Read more: Cool Tum Pung: A closeup look at the recent gentrification of Russian Market, Phnom Penh’s hippest new suburb!Make sure you read your terms and conditionsIf you decide to rent an apartment in Toul Tum Poung, make sure that your landlord has the necessary legal documents for you. For example, if you rent a condominium, you must keep a copy of the lease and must comply with all the conditions stipulated in the contract.To ensure the legality of your lease, you are advised to go through 3rd party affiliates such as lawyers or real estate agents to ensure the validity of the legal terms of contract. The 3rd party will need to retain a copy as well.How do you find a good apartment for rent?You need to take your time to find the perfect apartment which will suit your needs, especially if you are a newcomer in the market. Some people rely on private individuals who help you looking for properties. These individuals are usually  brokers or referee who help you to negotiate prices without charging you a fee.We highly advise you to seek the assistance of professional companies, whom have a solid reputation.  Usually, those agencies provide reliable real estate services because they are more knowledgeable in regards to the local market.Generally, when renting through real estate agents, it is easier and more efficient. Mr. Sornn Seap, Managing Director of Real Estate Key Real Estate said, "As a real estate professional company, we provide services based on the needs of our clients. Loyalty is key to our strategy.”To start your search, you can visit the leading property website Realestate.com.kh. With more than 45,5000 properties listed and over 150 real estate agents and developers, you can get a fair overview of what is currently available in the market!Find out property for rent or sale in Toul Tum Poung on Realestate.com.kh!

The Sales Club of Cambodia (SCC) welcomes to the upcoming forum all the talented people with an interest to learn and improve their sales knowledge and skills.SCC will facilitate successful and experienced salespeople to share their knowledge with the community and the young-generation, allowing ongoing professional sales skills development and the improvement of livelihoods across the overall society.On 12th March 2017, SCC will hold a dedicated forum which will focus on Real Estate Industry opportunities. This will be held in partnership with Mekong Property Management and a selection of Developers and Investors willing to share their investment and development plans with potential salespeople.For this special opportunity, we have invited 5S Realty Group, namely Mr. Chan Sy, Chief Executive Officer; & LHC (Cambodia) Investment Co. Ltd, namely Mr. Charles C. Villar, General Manager. We have also invited Mr. James Whitehead, Director of Content at Realestate.com.kh, Cambodia’s leading real estate website, to present on the potential of the Real Estate market in Cambodia today.At the end of the forum, we encourage attendees to continue their study and apply to become an independent salesperson for all projects, with significant commission opportunities without the commitments of a full time job.Find the latest real estate news now on Realestate.com.kh

Russei Kaev district saw the growth of both residential supply and demand which helped transform the district into a housing hub in 2016. This was while the urban expansion of many different suburban parts of the capital accommodated the rapid growth of the population in the city.2016 saw the rise of 1,174 units at the Russei Kaev district. The majority of them were link-houses. They account for 96.7 per cent or 1,135 units of the housing market supply, according to VTrust Appraisal’s report released recently. The report also showed that semi-detached houses accounted for 10.2 per cent (279 units), whereas single-detached houses accounted for 2 per cent (54 units) of the total housing completion the same year.The report shows that as of 2016, Chrang Chamreh Ti Muoy takes 21 per cent or about 2,544 units of the total cumulative housing market supply; Chrang Chamreh Ti Pir with 4 per cent or 465 units; Kilomaetr Lekh Prammuoy with 25 per cent or 3,085 units; the Russei Kaev commune with up to 29 per cent or 3,574 units; Svay Pak with 5 per cent or 597 units; and Tuol Sangkae with 16 per cent or 2,004 units.“As of today, the Russei Kaev district is home to a cumulative supply of 12,200 landed housing units – with 86 per cent complete, while some are under construction – clustering in different communes of the district,” the report stated.Hoem Seiha, director of Research for VTrust Appraisal Co., Ltd., said that the total number of units that had been sold is at 84 per cent and the rest of the units had just come into the market. So, they need time to sell. Seiha says the reason they chose the Russei Kaev district was because their study showed that it has a good housing market. “The landed cluster housing market in Russei Kaev district grew strongly within the past five-year period. There has been an average of 1,600 launches of new units coming into the market yearly from 2012 to 2016. There’s also going to be around 2,800 and 3,380 units that will be come to completion by 2016 and 2017, respectively,” Seiha said.VTrust Appraisal’s research also found that the average list price for purpose-built shop houses across Russei Kaev district is $161,100 per unit and sold at an average of $155,600 per unit. Link-houses were listed on average at $109,800 per unit and sold at an average of $105,400 per unit. Semi-detached houses were listed on average at $195,700 per unit and sold at an average of $178,800 per unit. Single-detached houses were listed on average at $643,000 and sold at an average of $595,500 per unit.Chrek Soknim, CEO of Century 21 Mekong, said the reason the housing market is still seeing growth is because it is supported by the banking sector. The housing demand saw an increase of interest from newlywed couples and middle-income earners as well.“Because the district of Russei Kaev is adjacent to the capital’s central business districts, it has now become a residential hub where residents can access the business centers easily and immediately, compared to the far west districts of the capital,” Soknim said.Borey Peng Huoth, Borey New World, and Borey Rith shared the second largest market share in the district, reaching up to 9.1 per cent, 8.9 per cent, and 8.4 per cent – approximately 1,120 units, 1,102 units, and 1,035 units – respectively. Nevertheless, there were also various projects that had fewer than 400 units, collectively sharing up to 39 per cent or 4,787 units of the total cumulative market supply. 84 of which were totally completed as of the date of reportingRussei Kaev district is one of Phnom Penh’s 12 districts. It is administratively subdivided into 6 communes. Namely, Chrang Chamreh Ti Muoy, Chrang Chamreh Ti Pir, Kilomaetr Lekh Prammuoy, Ruessei Kaev, Svay Pak, and Tuol Sangkae.In total, the Russei Kaev district is currently home to an estimated 180,000 residents.This story was featured in the January 2017 print edition of PROPERTY VIEW magazine, produced by the CVEA.Realestate.com.kh is very proud to support the CVEA’s Property View publication. For more information about joining the Cambodian Valuers and Estate Agents Association (CVEA) please click here. And, if you are interested in advertising placement or advertorial in the next edition of Property View Magazine, please contact Mr. Virith via email:virith007@yahoo.com Or call: 078 959 567  or 098 66 26 68Find  out the latest real estate news on Realestate.com.kh!

Vann Molyvann, considered the founder of the modern Khmer architecture, completed nearly 100 projects both nationally and abroad between 1956 and 1970. The impact of his architecture is felt around numerous corners of the Kingdom - with many still applauding his architectural style.Ms. Tri Lida from Re-Edge Architecture & Design refers to Molyvann as “the father of Cambodian architecture” - holding a “unique ability to incorporate Khmer style with natural elements, creating sustainable buildings where the air and sunshine flow from the inside out.”Some of Molyvann’s most significant projects are the Independence Monument, the National Olympic Stadium, the Royal University of Phnom Penh, the Chaktomuk Conference Hall, Preah Suramarit National Theater, the Council of Ministers building and the State Palace in Chamkarmon – now the place of the Senate.There are also several of his projects which are less known by the general public; such as the stupas within the Royal Palace, the Kantha Bopha Hospital, the first Siem Reap airport and the pavilions and temples for the 2,500th anniversary of the Buddha.Aside from the many projects he completed within the Kingdom, Molyvann also worked on projects abroad such as the Exhibition Hall for the International Trade Fair in Osaka, Japan, the Exhibition Hall For the International Trade Fair of Zagreb, the Exhibition Hall at the International Trade Fair of Brno, Czechoslovakia, and the Exhibition at the Galleries Lafayette in Paris.However, when asked his most loved architectural projects, these are all national - although not all are still in existence: “The ones I love the most is the National Olympic Stadium and Preah Suramarit National Theater on Bassac in Phnom Penh. There are many other projects I was fond of, but unfortunately some of them have been replaced​ by new buildings or were destroyed,” said Mr Molyvann.The demolition of old architecture is a recurrent issue in Cambodia, which the photo expert and owner of the “Amazing Cambodia” photo archives, Mr Srin Sokmean, has likewise noted: “It is a great pain to witness those architectural heritages disappear one by one. I always question myself why they are destroyed and not suitably renovated.”This is what pushed him to produce a vintage photo collection book named “Cambodia: Half Century Then & Now” which aims to enable people to visualize the beauty of Cambodia in the past and how the current landscape has been modified. On top of this, Sokmean has a popular facebook page and blog demonstrating his collections of photography. “I strongly believe that redecoration is the best option, because each building has its own attractive point. Development and architectural conservation need to go together” he added.“Old buildings are not always useless; instead they can be perfectly converted into museums, art galleries, boutique hotels or other amenities,” he concludes.And Sokmean is not the only one trying to preserve national heritage via media platforms. Mrs. Teav Bandol of Image Printing also shares a similar concern that, “during development, many countries face the dilemma of whether to preserve or replace heritage buildings to give space for new development; sadly most countries choose the latter. Cambodia is no exception.”She continued, “It should not be destroyed but preserved. Both old and new architectural work must be kept in its place in order for the public to witness the evolution from one generation to another. Doing so will help us to preserve the national identity and maintain sustainable development.”With that in mind, Image Printing is planning to re-publish some books detailing Vann Molyvann’s works in order to ensure his contributions reach the next generation.Bandol mentioned that the publication of these books are not just for the purpose of preserving Van Molyvann’s buildings – but it’s also “a demonstration of intelligence, knowledge and innovation in the architecture industry - which is a good example for the new generation to follow.”“Moreover, we cannot regain a building that was destroyed, but we can save every document for next generations,” she concludes.Find the latest real estate news on Realestate.com.kh