After breaking ground in March this year, foundation works on the 5-star condominium The Penthouse Residence are complete with basement and structural works following.Located in the heart of Phnom Penh’s fast-growing riverside commune along Sothearos Boulevard in front of Sofitel Phokeethra Hotel and Aeon Mall, The Penthouse is built to international standards and with the latest, innovative building technologies and materials. These ensure quality, beauty and the guaranteed delivery of a comfortable lifestyle.Unlike other developments that don’t usually reveal the details of construction and materials, this USD110-million project is purposely transparent to gain customers’ confidence.  According to the developer The Penthouse Residence Co., Ltd, this 36-storey project’s architectural plan is designed by HOKO Design and Build Co., Ltd with the interior designed by Italy-based Sangiorgio. Follow the building code, American Concrete Institute Standard (ACI), the building will utilise a reinforced concrete frame for its structure while the walls will be installed using reinforced concrete, masonry bricks and light weight blocks or glass to minimise the load on the building.Residents of its 458 units will enjoy the comfort of living with generous ceiling heights from 2.6m to 2.8m and the ceilings will feature plasterboard with skim coat and emulsion paint. While windows are equipped with powder-coated aluminium frames, a variety of high quality materials are used for the doors. For the main entrance, solid timber and medium density fibreboard doors will be installed. Hollow core timber doors are designed for the bedrooms and bathrooms. The balcony door and other doors will be applied with powder- coated aluminium frame glass sliding and/or swing.Flooring is among the major elements in the residence the developer has prioritised. Separated flooring tiles are fitted in various locations around the residence. For the entrance foyer, living, dining, internal corridor and utility areas, homogeneous tiles with skirting will be applied. The kitchen is designed with homogeneous tiles while the homogeneous tiles and/or ceramic tiles with a waterproofing system are for the bathrooms and the balconies. Ceramic tiles (wooden style) will be specifically designed for the bedroom.For the wall finishes, plaster and/or skim coat emulsion paint will be applied in the foyer, living and dining rooms, all bedrooms, internal corridors, and utility and storage areas in the unit. As homogeneous tiles will be designed for all the (full height) bathrooms, homogeneous or ceramic tiles will also be applied to the kitchen walls between the counter tops and upper cabinets.Wall-mounted air-conditioning units are installed in each unit. For the sanitary fitting, there will be 1 shower mixer with hand shower, 1 vanity counter with mirror, 1 water closet, 1 towel rail and/or robe hooks and 1 bathtub for the master bathroom (depends on unit type). The common bathroom will be equipped with 1 shower mixer with hand shower, 1 vanity counter with mirror, 1 water closet, 1 towel rail and or robe hooks.Besides, there are also additional features. The kitchen cabinet is integrated with hob and hood along with electrical induction hob.To ensure the highest construction standards, lavish decoration and comfort for long-lasting value, The Penthouse Residence has partnered with many well-recognised construction suppliers. The bathroom equipment will be supplied by world class brands such as Grohe and Hafele from Germany, Cotto from Thailand, ToTo from Japan as well as American Standards, which will all provide nothing but the very best functional and long-lasting products. These high standard fittings help ensure the project’s safety and builds trust among customers, now and in the future. In August 2016, the developer also partnered with CPAC by SCG Thailand to supply CPAC’s high quality materials to the project.With the swift construction work, it is expected that this project will be finished before the end of 2018 within its deadline. The properties offer four unit types, i.e. 242 Comfort (Studio) units with price ranking from $92,000; 92 Suite (2-3 bedrooms) units with price starting from $134,000; 94 Embassy (2-3 bedrooms) units with price from $172,000; and 14 President (3 bedrooms) units with price from $272,000. Containing 16 units, Richmond (Penthouse) (2, 3, 4 bedrooms) unit is the most expensive residence with price from $290,000About 65 percent of the units have already been sold with the expectation that over 85 percent will be sold by the end of this year, stated Ms.Sunna Lee Marketing & Sales Director of The Penthouse Residence.“The Penthouse has been one of the best-selling condominium projects in Phnom Penh so far due to its prime location, best quality, and reasonable price,” they told realestate.com.kh, adding that, “The Penthouse Residence will offer both great quality and value in the real estate market. At the moment, we are also offering a 3 percent discount for those who decide to book our condominium unit today. With facilities such as the first revolving restaurant on rooftop, 10 level of parking space and Guaranteed Returns of Renting (GRR) will also be offered at 6 percent per year or 18 percent for first 3 years, you can’t really go wrong with The Penthouse Residence.”Click here for more information on The Penthouse Realestate.com.kh

Toul Kork is now considered a fast up-and-coming area for Phnom Penh in terms of both the residential and commercial real estate. Some realtors have even said that Toul Kork will soon become a second BKK1, due to its developing demographics of wealthy khmer and expatriate business people.Toul Kork will also soon become home to the city’s newest shopping complex. Aeon Mall 2 is being constructed inside the Pong Peay City Project, Toul Kork. This second project coming three years after the construction of the first Aeon Mall, launched in mid-2014 on Sothearos Boulevard, next door to the Sofitel Hotel and the Russian Embassy.The arrival of the first Aeon Mall contributed many positive changes in terms of new retail and consumer environment in Tonle Bassac, and especially the growth of property prices in the area. The construction of the Aeon Mall 2 in Toul Kork is also expected to bring high appreciation increases.Mr. Hoem Seiha - Director of Research at VTrust Appraisal - said that Aeon Mall is a business center and a large-scale market, otherwise known as an “anchor tenant,” which means that it will attract other projects to develop around the same area.Mr. Mam Sereypanha, CEO at Easy Property Investment, said that the “the rise of Aeon mall 2 in this area will significantly benefit the real estate sector.According to Mr Mam, “it will push up the property prices, help increase the buying and selling operations, and contribute to the construction of infrastructure where almost 100% of the existing projects are done.”For instance, for Borey New World and Borey Angkor Phnom Penh, located very close to Aeon Mall 2, unit prices have doubled since the announcement of the mall with buyers rushing to reserve residential units in this area, said Mr Mam.He also added that since the potential of this area has grown, the business for Borey developments had also seen a rise, especially amongst existing projects that have been expanding their units in order to satisfy their client’s demands.In regards to land price, Mr Mam said that, “in the last three or four years, before the construction of Aeon, land prices remained low. But now, those prices have doubled or even tripled. The land along Ouknha Mong Rithy Main Road (located close to the Aeon Mall), ranged as low as $600 to $800 per square meter. Now, the same sells for $2,000+ per square meter. And along Chea Sophara road, prices have risen from $400 to $800 per square meter up to $1,000 to $2,000. If the land site is located far from the main roads, the price goes below $1,000 per square meter.”Mr Hoem also added that in terms of the land price, the arrival of the second Aeon Mall will allow property prices to rapidly appreciate. He found that from 2013 to mid-2016, land prices in the Phnom Penh Thmey commune increased by 19% per annum.Japan, the luxurious 4-storey Aeon Mall 2’s investor, reached an agreement with Korean developer, HYUNDAI Engineering (Cambodia) Co., Ltd. -- together with Cambodian subcontractor SOMA Construction & Development Co., Ltd, a subsidiary of the SOMA Group Co., Ltd. -- to take charge of the construction and development of the project.This project will have a total land size of 151,000 square meters, whereas the first project was only 68,000 square meters. Aeon Mall 2 will come with large department stores, high-end retail outlets, cinemas, bowling alleys, restaurants, pubs and food courts. The outside space will serve as a parking lot that can accommodate 2,500 cars and 2,000 motorcycles. This project is expected to be completed and opened by May 2018.Other than Aeon Mall 2, there are also other shopping malls underway this year in the Toul Kork area, such as the Parkson mall. The Central Group from Thailand will also invest in Toul Kork, according to recent announcements.Please find out new development in Cambodia on Realestate.com.kh

On 8th April 2017, Creed Cambodia, the biggest Japanese developer in Cambodia has celebrated ‘’ The Handover Ceremony” for its Borey Maha Sensok’s buyers at construction site which is located on Plov Wat Tang Korsang, Sang Kat Krang Thung, Khan Sen Sok, Phnom Penh, and 3 kilometers from Phnom Penh International Airport. The Handover Ceremony was attended by Mr.Eguchi Takashi, President of Creed Cambodia, Mr. Kato Shuji, Construction Director of Creed Cambodia, and many distinguished guests.Borey Maha Sensok is the second residential development project by Creed Cambodia after their first condominium project, Bodaiju Residences. Borey Maha Sensok is covered approximately 12 hectares of land size, consists of 665 units of flat houses. The flat price start from $49,500 onward. Currently, Borey Maha Sensok successfully sold out more than 85% of whole project and first block of houses will be available to reside by this month and expect to finish the project by end of 2017.On the ceremony date, Mr. Eguchi Takashi, President of Creed Cambodia expressed the appreciation for customers that have strongly support Borey Maha Sensok Project: "On behalf of Creed Cambodia, we would like to thank to all our customers who strongly believe and purchase Borey Maha Sensok with trust of our company. Without support from our buyers, Borey Maha Sensok will not have this success."Moreover, Construction Director of Creed Cambodia, Mr. Kato Shuji has delivered an inspection speech about the feature points of Borey Maha Sensok that urge customer to trust and purchase our units. The three pillars of Borey Maha Sensok projects are: Health, Ecology and Safety. These concepts are indispensable to Japanese residential development. He also added the attraction points of Borey Maha Sensok about the facilities provided inside the Borey including Exterior gym, Foot Message Path, and Tree Trunk Path, Eco-Friendly lighting system, Solar Power, Street Lights and etc. Besides the facilities inside the Borey, he also mentioned the materials using to build the house, ‘’We’ve tried to use fine international brands as many as possible to keep our construction quality such as Schneider brand for electric breakers, switches and power plugs, SCG Elephant for Water and Sewage pipes, a famous painting from Singapore brand of ICI Paints, and Srun Mong, K-cement and Camel. For concrete.’’On that occasion, Mrs.Cheng Sokha, Deputy sales & marketing director added that Borey Maha Sensok is one among of numerous projects in Southeast Asia which is developed by Creed Group, a Japanese real estate firm specialized in principal investment and property development. As time passed, Creed Group has been investing in Malaysia, Cambodia, Vietnam, Myanmar, and Bangladesh since 2012, and investment amount is USD 340 million at the end of 2016.For more details about its coming project, please contact to 023 900 661 or check out its Facebook page: Creed Cambodia.Please find out new development in Cambodia on Realestate.com.kh

Sihanoukville has been known for its fine sand, beautiful sunsets, and its refreshing waters. It’s the perfect place to escape to, and until recently that was about the only thing that people thought the area was good for. They soon found that the area is also dynamic in more ways than one -- crossing over to different industries for multiple purposes.Considered to be the Next Boom Town after Phnom Penh, Sihanoukville is gearing up with new developments and projects from key economic pillars -- tourism, oil & gas,and port sectors.But what are these new developments and why is everybody getting so worked up on moving or investing in Sihanoukville? Realestate.com.kh breaks it down for you.TourismThere’s no doubt that tourism in the country is growing. Sihanoukville is probably one of the areas that’s going to be feeling this the most. In fact, around 1.5 million tourists went to Sihanoukville just last year alone. And with the Sihanoukville airport set to become Cambodia’s largest airport, more regional airlines will be flying directly to Sihanoukville from various international locations too.Another airport not far from the city will also be built by the Grand Union Group whom just recently received permission for its construction.With the addition of these new and upcoming flight routes, the number of new luxury hotel developments have also slowly started to increase. Among them is the Six Senses Krabey Island, which is set to open this 2017.Other than airports contributing to the area’s foot traffic, a new highway from Phnom Penh to Sihanoukville is also underway. The project will be accomplished by a Chinese contractor and is slated to reach completion by 2020. This will become another avenue for travelers to access the humble beach town for relaxation and unwinding.But even with all the new developments rising, the Department of Tourism is still actively seeking ways to increase visitors volume in the area. That’s why it partnered with the Asian Development Bank to fund a research that would determine socially and environmentally safe ways to enhance and develop the area’s natural resources to attract more tourists.In relation to the actions that will be brought about by this research, the Department of Tourism expects a rise in the number of yearly visitors to 3 million by the end of 2020 -- 1 million international tourists and 2 million local tourists.Another positive thing that’s taking place in Sihanoukville is the government’s intervention in order to stabilize prices, especially within the hospitality and transport industry. Part of this process is the continuous discussions with owners and the staff of hotels and other accommodations to prioritize quality and the importance of setting up reasonable rates.But while tourist accommodations are geared to lower prices to make it more sustainable, the government has ordered operators and owners of servicing ferry boats in the area to increase the ticket prices to $20 from just $15 to promote business growth and stability.There is a great potential to carryover this tourist traffic into the residential market. This is what forerunners D’Seaview saw earlier on in the area’s development, giving them the advantage to strategically place their condominium just a kilometre away from Sokha Beach, one of Sihanoukville’s most beautiful beaches -- capturing one of the most beautiful views at one of the most convenient locations in the area.Residents can use the growth of Sihanoukville’s tourism to generate additional income on their own by renting their units out for some great rental return rates: and impressive 30% over 3 years at 10% a year, to be exact. Find out more about D’Seaview Development and your return on investment.PortOther than the above-mentioned highway connecting Phnom Penh to Sihanoukville for tourist accessibility, it will also assist a number of companies in terms of logistics and transporting items to and from the sea port more efficiently.It was announced back in December of 2016 that Cambodia’s only deep water sea port, the Sihanoukville Autonomous Port, already received its first shipment of rubber-tyred gantry cranes from Japan. Its total investment cost was $22 million and will help towards expanding the container throughput capacity of the seaport by 80%.The Sihanoukville Autonomous Port Chairman Lou Kim Chhun explains, “The new machinery will increase the port’s capacity to 700,000 TEUs.”Now, because the port’s capacity is expected to increase, the Government has also asked for the assistance of Japan International Cooperation Agency to study the possibility of constructing a new multipurpose seaport. Once approved, the government plans to spend around $300 million on its construction. The government expects this to help make shipping cost-efficient as outbound cargo shipments no longer have to dock in Singapore just to be loaded onto bigger ships.Oil & GasEarlier last year, one of the biggest Cambodian investment conglomerate, the Royal Group, was in discussion with two foreign state-owned petroleum companies -- Indonesia-based Petramina and another unnamed Chinese company -- regarding the possibility for an oil pipeline running the length from Sihanoukville to Phnom Penh.Though an update is still to be released regarding the project’s fate, the development will aim to utilize Cambodia’s downstream capabilities. This will then allow for the creation of an oil refinery plant and an electricity-generating plant.But the construction of the first oil refinery plant of the country will come sooner regardless of the oil pipeline, if everything goes well. A $3-billion oil refining plant is being built already in 390 hectares of Sihanoukville land. It is expected to reach completion by the end of 2018. It will be the product of the partnership of the Chinese-owned CNPC Northeast Refining and Chemical Engineering and the Cambodian Petrochemical Company (CPC).He also said that waste materials produced by the refinery will be utilized for the production of tires, fertilizer, and other products for the Industrial sector. In addition, the Steung Hav SEZ in Sihanouk is also licensed to build another deep sea port in the near future. The said expansions and deep sea port construction is effectively reducing the shipping costs for industrialists in Sihanoukville, and will act as a further boost for its development.It looks like all the spotlights are on Sihanoukville and that it has all it takes to become the new goldmine for investments.  Luckily, pioneers like D’Seaview Condominium, offer the ideal investment opportunity, and have decorated Sihanoukville’s skyline with their state of the art architecture, amenities, and facilities. Investors would do well to follow suit by getting a piece of their own Sihanoukville property as anticipation for what is about to come. This is because there remains to be an abundance of opportunities in Sihanoukville for key sectors, if not more.Explore the marvellous design and architecture of D’Seaview condos in details here.If you are ready to make your dream of owning a luxury development come true, here are some brilliant news: Maybank will allow you to loan up to 70% of the property purchasing price for local Cambodian and up to 50% for international buyers. Read more about your loan options here.It looks like everything is telling you to go invest in Sihanoukville and nothing is hindering you to do that!All geared up for the Khmer new year, D’Seaview will be holding an event on 14th, 15th and 16th April 2017 in its Sihanoukville sales office at the 2 Lions roundabout in Ekareach Street, Sihanoukville, Sihanouk province! Everyone is welcome to join the said celebration and may even get a chance to avail of a special promo that will surely make their new year happier!Find out more news about Sihanoukville on Realestate.com.kh now!

Samdech Techo Hun Sen Boulevard has been officially launched this morning, April 3, 2017 in the honorable presence of Samdech Techo Hun Sen.Samdech Techo Hun Sen Boulevard started constructing in March of 2011 under ING Co., Ltd. This Boulevard connects Route 271, Chromos Chrouk (Kbal Tnol), the Boeung Tompun wetlands, and National Road  No. 2 in Takmao City, Kandal province.The Boulevard is considered the largest public road in the city, with a total length of 9,160 meters. Its construction is expected to improve traffic overall and to make travel from the outskirts of Phnom Penh to Kandal easier.Infrastructure has become a major focus point in the development of related real estate in the area and its land prices. Mr. In Setha, CEO of real estate website www.cambodia21.com said, "The price of land there has increased compared to the last few years from when it was just land area and lakes. Nowadays, it holds great potential. Land prices from Road 271 to the international school project ISPP range from $750 to $850 per square meter, and the value of projects from Connor around the International School ISPP to National Road No. 2 range from $200 to $350 per square meter "He added: "Because of the development of good infrastructure and development projects, housing developments like The Element condo project, the residential Woodland project, Borey Peng Hout and Chip Mong are already planning to go there."Development to the south is the best choice for the development of Phnom Penh city. In fact, infrastructure developments like these ease traffic congestions and improves the standard of living around the area. Overall, this is geared towards sustainable development where what once just a lake will become the region’s main trade and investment location.For up to date news and information, visit our news section at Realestate.com.kh now.

The Chroy Changvar area is a fast up-and-comer for the Phnom Penh residential market, offering fresh air and room to move compared to the inner city districts - an attractive proposition for both expats and local families. New development housing projects continue to launch month on month, hand in hand with commercial ventures - and land prices have been rising steadily year on year.During the 19th National Cultural Day in Phnom Penh on the 3rd of March 2017, Samdech Techo Hun Sen stated the location of the Royal University of Fine Arts (RUFA) would soon change from its current location next to National Museum of Cambodia in Sangkat Daun Penh, moving instead to Chroy Changvar. The prime minister said that the project will cost approximately $12 million.The new RUFA on Chroy Changvar will occupy a total area of ​​3 hectares. In addition, the government has set aside another hectare of land next to the University to build a cultural center for concerts and theater performances.The relocation of the Royal University of Fine Arts has irked some of the general public, who have raised concerns in regards to the university’s history in the area and argued that the relocation might change the school’s identity. Additionally, some students have expressed dissatisfaction due to the commute time from the inner city.Mr. Noy ​​Samnang, a 2nd year student at the RUFA, said that, “I started my learning here and I’m still studying here. I would be very sad if the university will relocate because I have lots of memories in this place. And it’s quite far for me. I will have to adapt to a new place again.”However, the government is convinced that the current Royal University of Fine Arts is very narrow and is planning to use the area of the university to expand the current space of the Museum.Mr. Nong Samedy, a former student of RUFA, said that he will be disappointed if the university is relocated to Chroy Changvar because this is the pioneer university of Cambodia and has been standing for in this area for 100 years.However, he also mentioned that if the government is aiming to expand the size of the campus and preserve the original buildings, he will support the government’s action. Samedy added that this relocation may be positive, if the new university will be equipped with a wider range of learning materials and facilities.Mr. In Sitha, Advisor at VTrust Property Co., Ltd., says that in terms of real estate, this is a good sign and will potentially boost the growth of the real estate market of the area.Norton University is also situated on Chroy Changvar - and according to Mr Setha - before Norton arrived there, there was no business and few people in general. But after the establishment of Norton University, a lot of businesses and economic activities have blossomed around this area.Mr. Setha also mentioned that this will also drive the housing sector outside the city towards the Chroy Changvar area, where housing and land prices remain low and relatively affordable for local families.Ms. Phoeung Sakona, Minister of Culture and Fine Arts, confirmed that this project will start its construction this coming April 2017 and it will take around three years to be completed.On the 23rd, 24th, and 25th of March 2017, RUFA will both celebrate its 100th year anniversary and hold a study exhibition that will bring to students a showcase from five faculties — the Faculty of Archaeology, the Faculty of Choreographer Arts, the Faculty of Visual Arts, the Faculty of Architecture, and the Faculty of Music.Ky Kosal, content writer @ Realestate.com.khCheck out the best Chroy Changvar listings on Realestate.com.kh

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 to Rent property in Cambodia ? Here’s a checklist, thanks to Realestate.com.kh, to ensure you’re not forgetting anything!Additional costs:Most rental rates are exclusive of extra monthly charges. Monthly maintenance, waste collection, gas and water rates, electricity bills, bond payments etc. can add to the monthly rental price significantly – so make sure you inquire about all extra expenses while you are viewing. And confirm them in the rental contract before signing. Expect to pay no more than 1000Riel/$0.25 per Kilowatt for electricity, $5 per month for water charges & trash collection and $5 per month for TV cable connection.Read the contract:Seems like a no-brainer – but read your rental agreement with care and attention. Learn the ways in which you can be liable for a breach of your contract, for example having pets or parties – different landlords’ stipulate different reasons for being allowed to throw you out, so make sure you know what the landlord in question expects of you before you agree to stay.Everyone haggles!Always bargain the price with your landlord no matter how it makes you feel. The same goes for your real estate agent. Remember, that while your real estate agent is acting in your interests to some degree – they are ultimately acting on behalf of the sale, and their commission will be higher if the final agreed price is higher. If you are applying for a long term rental, 1 year or over, use this as a bartering tool. Also, while the landlord may not be flexible on monthly rental price, you may still be able to push them for additional services or home furnishing/appliances for free as contract sweeteners. An upfront advance on your first few months’ rent may also be an enticing bartering point for landlords looks for a fast cash injection in the short term, but ensure everything is receipted correctly.Check out part 2 of the rental checklist next Wednesday in the Khmer Times property section.Wish to Rent property in Cambodia? Check out these propertiesJames Whitehead, director of content @ Realestate.com.khWant 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.

Are you an Expat expecting just a temporary stay in the Kingdom? Are you nervous about signing long-term leases when you are not sure if you can satisfy the contract length? Are you finding that most Cambodian landlords are unwilling to have tenants stay for less than six months?Benefits of a Long Term Lease:Signing a six-month or year lease locks in a rental price in a market that is growing in leaps and bounds every year. Rental rates climb 10-15% annually in Cambodia, especially in the urban and tourism centers, and as new buildings offering all types of modern amenities continue to enter the rental market, these prices will continue to rise.Signing a long-term lease will also grant higher negotiating power: the landlord should be more flexible because they know you will stay for a longer period of time. They may add furnishings that you request, and negotiate on otherwise set rates.If you end up securing a lease for longer than you are able to stay in Cambodia, many expats are seeking shorter length, sub-lease agreements. This will give you the opportunity to finish your lease agreement payments through a sub-lease with a short term tenant. It pays to check with the landlord that will be possible before signing the leasing contract.Alternative, the landlord may allow you to transfer the entire lease to a new tenant that you have found – if you can’t satisfy the contract.Remember that most owners want to build and maintain a relationship with their tenants. A long term lease allows this trust to develop.If I do sign a long term lease, what sort of contractual and non-contractual terms can be negotiated with the landlord?Most importantly, the monthly rental price is negotiation – as despite what the landlord and agent may say, in the Cambodian market there is always flexibility!Consider requesting the installation of window screens, new or more fans, and new or improved furniture.Rates for services, such as water, electricity and rubbish collection may sometimes been thrown into the final rental price, at no extra charge.Remember, negotiation is about compromise. Consider the landlords objectives and unique circumstances – and try to compromise a rental agreement where both parties can feel satisfied.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.

Loans interests update: the National Bank of Cambodia's announced on the 3rd of March 2017 their decision to cut down interest rates of loans of all the banks and micro finance institutions (MFI) in Cambodia to 18% per year.Having set the interest rates to a low 18 percent a year or simply 1.5 percent a month, this contributes to the support of the Cambodian Royal Government policy regarding the protection of the interests of citizens, especially the underprivileged. It also helps prevent excessive debt of citizens, reducing poverty, protect customers from high interest rates for loans from any micro finance institution, and also to promote loan operation effectiveness and security through loan provisions from MFI.Previously, the interest rate was not explicit, and some MFIs set high loan interest rates of up to 3% a month or 36% a year, which has buried many people in debt.This announcement is a good sign of resolution to reducing the debt of the citizens. And it will also be advantageous for startups, small businesses, and all economic activities involved in the country.This announcement will be implemented effective 1st of April 2017 and marked as mandatory.A senior official of the National Bank of Cambodia clarifies that this announcement only applies for new customers. Existing customers will still make use of the old interest rate policy.Find the best real estate news on Realestate.com.kh

Khmer architecture was very popular during the 1960s, especially the projects of Vann Molyvann, who built many architectural masterpieces in both Cambodia and abroad. During the 60’s, local architects such as Molyvann were heavily influenced by another Asian country, Japan.  To showcase the fusion of these two cultures, an exhibition on New Khmer and Japanese Architecture was organized through the cooperation between the Environmental Global Hub, the Kyushu University of Japan, the Cambodian Ministry of Culture and Fine Arts, the Cambodian National Museum, The Japan Foundation and with the support of Royal University of Cambodia.This exhibition was held on the 4th of March for its first showing, and will be open to the public again on the 16th of March at the National Museum of Cambodia, Phnom Penh.The exhibition aims to reveal the role of the Japanese experts who were involved with Vann Molyvann’s and other Cambodian architects’ projects in the mid-twentieth century, from the design phase to the final construction, and broader urban planning initiatives underway at that time. It also aims to show the diversity of the collaboration occurring during the period of the 1950s and 60s.When explaining the purpose of the exhibition, Masaaki Iwamoto, assistant professor at the Kyushu University, said that this is their first exhibition in Cambodia, and will focus on the new generation, namely the youth and students -- especially, those who majored in architecture. By doing so, the new generation can learn from the 1950-60’s architectural styles and themes.The photography and information on display focusses on nine projects, seven of which have already been completed. The projects being exhibited are the Osaka Expo Cambodia Pavilion, the Chroy Changva Bridge, the Agricultural, Pastoral and Medical Centres, Preah Suramarit National Theatre, the Bassac Riverfront Masterplan (which includes the White Building), the Sihanoukville Master Plan, and the Chaktomuk Conference Hall.  And the two construction projects which have not been completed, include the Parliament -- under the partnership with Obayashi Corporation -- and the Olympic Stadium.Mr. Keo Sitha, a 3rd year student in architecture, in attendance at the exhibition said, “this was a good opportunity for him to see the different project design layouts of Molyvann.” He added that his interest for the design of each project is mainly on how designing works, since it is very detailed and complex, and not well taught at school.Somanith, another architecture student currently on his 5th year at the exhibition’s first showing on the 4th, was particularly impressed by the designs and commented, “What I really appreciate of Mr. Vann Molyvann is that he designed all these projects by only hand drawing.​ It is very hard to do on a PC, so I can’t imagine doing so by hand.”Mr. Hun Chansan, director of Re-edge architecture and design​, said that, “I think this exhibition is a good showcase that architecture is about collaboration, and we can learn a lot from those sectional drawings being exhibited. It already inspired me to look into designing my own projects with the layout and section concurrently.”Chansan continued, “it seems Japan and Cambodia have gone through a similar phase. Cambodia needs to take time to discover talents and produce human resource that will be needed to build another era of architectural masterpieces. I hope as the country is developing, we will discover the value of architects and what we can do for the country. As part of the new generation of architects in the country I hope to make an impact and inspire many to do so.”Ky Kosal, content writer @ Realestate.com.khFind the best real estate news on Realestate.com.kh

There are plenty of developments being built in and around Phnom Penh, and among these are pretty good investment opportunities. Along with the many attractive qualities of these new projects, is the promise of guaranteed rental returns that can go up to about 20% during the first two to five years after purchase. But experts such as the CEO of Huttons CPL, Sharon Liew, explains that “in general, anything higher than 20 per cent is likely too good to be true.”However, it is more than possible to find lower and more realistic guaranteed rental returns on the market right now. So, if you’re thinking of buying a space to rent out for future investment return, what do you need to consider first and how exactly do you calculate whether or not the promised guaranteed rental return is true?What are the Considerations for Return of Investment?Developers will promise investors a lot of things. But promises are just that if you’re not careful. So, here are a few things that you can do to protect your investment from going down the drain.Research - The first thing you want to do before talking to the developers and property managers is to make sure that the guaranteed rental return is consistent with market conditions. So, location, pricing, condition, and real estate forecasts will factor into the equation. If there’s an expected increase in demand in the future in a specific area, then that might be a good investment. But if a developer is promising a high guaranteed rental return and something about the data seems odd or off, look into it further. It’s also advised to follow trends that have been proven rather than influxes.Get a contract - When you’re finally sure that the guaranteed rental return is plausible and you sit down with an agent, a developer, or a property management representative,ask to see a draft of the contract. Check all the documentation and see if there is any mention of the guaranteed rental return. Otherwise, you don’t have anything to hold them accountable with. If you can, get a financial advisor and a legal advisor to look at all the paperwork.Ask - Make sure to also check the capability of the property management firm. If it’s possible, ask them about their financial estimates and plans for the property. Oftentimes, the first few years of management is great until they lose sight of their finances and the quality deteriorates. Making sure that they have a plan for the different scenarios that may play out means they did their independent study as well.How do I Compute for Return of Investment?Now that you’ve placed everything in order, it’s time to actually compute your actual return of investment. But how? There are two basic ways to do that, and it actually depends on whether you are planning to pay in cash or through a financing scheme.How do I Find Out Return of Investment if I Pay in Cash?This is probably one of the easiest ways to compute for return on rental investment. All you have to do is to divide the expected annual return by the original total investment. Take note that the expected annual return is the amount after tax has been deducted and the original total investment amount includes costs like remodeling.So, for example, you buy a unit for $235,000 and decided to add certain appliances. This brings up your cost to around $245,000. If you charge your tenant $1,800 a month, you have roughly $21,600 in a year. But you have to pay a yearly real estate tax of 0.1% and a 14% rental income tax. That amounts to $3,259 which brings profit down to $18,341.So, your Return of investment from the rental property is computed by dividing $18,341 by $245,000. That brings you to an 7.4% ROI a year.How do I Find Out Return of Investment if I’m FInancing the Property Through a Loan?Taking a loan or mortgage makes the process of calculating ROI more complex, but nonetheless possible. Taking the above example, assume you get the same unit. The terms of a bank state that you’re allowed a maximum loan of 70% with 8.25% a year interest rate for 20 years. Let’s say you already paid the first 30%, your total initial payment is $70,500. Let’s also assume you got $10,000 worth of appliances. Your total out-of-pocket so far is at $80,500.Next we have to take into consideration the ongoing costs associated with the loan. You took out a 20-year loan with a fixed interest rate of 8.25%. This would mean a monthly payment of around $1,402. That’s $16,824 a year.For loan computation assistance, you can use our Loan Calculator!We’ll then add the same yearly tax you have to pay at around $3,259 to the $16,824 you have to pay a year. Now, assuming you’re still asking for $1,800 every month and you subtract your yearly payment amount, you will be left with around $1,517 yearly.What’s left for us to do is to then divide the yearly profit by the original out-of-pocket costs to determine the ROI. $1,517 divided by $80,500 equal an ROI of 1.9% a year.So, is Buying With Cash Better Than Getting a Loan for Return on Rental Investment?There is a noticeably large difference after comparing the ROI rates using both method of payment. But choosing between the two financing options boils down to a matter of preference. If you’re in it for just the rental return, then paying in cash would make more sense. But for investors who are planning on resale in the distant future when prices have shot up but don’t mind getting rental returns in between, the second option seems like a better one.But What If I Plan on Letting Someone Rent It Out to Own It Eventually?If you’re planning on doing this and paydifference ing in cash, the return of investment will be just the same as when you resell. The only will be when and until when you get the returns. If you do this while you’re on mortgage, the renter will technically pay off the loan and pay you profit a month at a time.Use our online search tool at Realestate.com.kh to help you look for good investment properties now!Is There an Easier Way to Get a Computation?Yes there is! If you’ve taken a loan from the bank, then your bank may have probably already gotten a valuation of the property. This means they’ve already considered all the costs, the benefits, and the risks to ensure that they’re not going to lose any money or that there is minimal risk involved. Now, maybe you want to know the inherent risks, the potential of a property, and how much you may be able to make out of it. Well, you can avail of valuation services for personal purposes too.Not to say that the above ROI computations are not at all helpful, but valuation takes into account several things other than just tax, profit, and initial cost. It gives you a clearer picture of what you’re getting yourself into by also considering the geographic location, the nature of the property, the current usage and usability, disaster, insurance, construction quality, age of construction, approved documents from local authorities, and the maintenance of the property.With all of this, they’re able to give you an overview of the property’s current state and of what might happen the future, in case you are planning on reselling a property or maybe even live in it. This can be an overwhelming process sometimes for investors, but since valuation services are done by experts in the field, they can tell you whether you’re making a potentially great investment or not.There are a lot of opportunities out there to invest in Phnom Penh’s real estate, but knowing what to invest in and how to invest in them makes for a good return on rental investment. So, take a shot at it and browse through different properties now!For more information and news on valuation, visit Realestate.com.kh now!

As more and more modern developments rise in Phnom Penh, the issue of city space and how to move around pops up even more frequently. And while, high-rise buildings have become a staple in the capital, it still has not managed to help ease the traffic woes in the area. Since the government has had enough of this situation, they are now looking to use some space that has not been used for almost a decade -- particularly, space that’s filled with water.So, what exactly has the government done and is planning to do with the vast water space? You might be surprised about what you are going to read next.TrafficJust recently the City Hall of Phnom Penh has taken steps to manage the increasing traffic in the area. There’s stricter enforcement on unpermitted road work by development companies to prevent damage that could cause heavy traffic. They’ve also installed roughly 600 new surveillance cameras and around 60 traffic lights along major roads in the capital to reduce  possible traffic jams.But additionally, Phnom Penh ’s waters have also been boiling long enough and has been ready for the government to cook something up with it. And the City Hall isn’t taking this to waste. That’s why, with the help of the LYP Group -- a company owned by CPP Senator Ly Yong Phat -- they’re looking to revive the waterway passenger transportation system through the usage of water taxis to help ease the traffic situation in the capital.TransportOnce the LYP group delivers a comprehensive study on the impact the water taxis will have on floating villages and determines that it won’t cause any harm, the $22-million project will be set to launch in early 2018.In a recent interview with the Khmer Times, the director of the capital’s public work and transport department, Saing Piseth, explained that the proposed route will cover 9 service stations across 25 kilometers of waterway. It will include locations from the Prek Phnov bridge all the way to to Takhmao City in the Kandal province. The water taxis will run via the Tonle Sap and Tonle Bassac rivers for this.A senior advisor to the government’s Supreme Economic Council, Mey Kalyan, also explained that utilizing the waterways would greatly improve logistics and connectivity in Cambodia. He added that the service will benefit the economy by lowering transportation costs across various industries.The project will produce around 20 boats that will travel at an estimated 30km per hour, carrying up to 90 passengers each trip. Once completely functional, it is proposed to run from 6am to 8pm each day.TourismMore than easing traffic and providing a more efficient transport system, the water taxis will also help the tourism sector.Despite plans being laid out, there is still uncertainty that comes along with this project -- just like in any other project. But one thing remains certain. And that’s the opportunities this will provide for various individuals and companies across different industries. And whether or not the success will satisfy the high hopes of people, this still remains to be a step forward towards Phnom Penh’s growth.For more news and updates, visit Realestate.com.kh now!

Cambodia displays a highly competitive real estate market. Within this crowded market, CPL Cambodia Properties Limited is trying to bring transparency, sustainability, and satisfaction to serve value to its customers.CPL is a pioneer in the real estate scene of Cambodia. It was established in 1997 through a partnership with an American professional realtor and Oknha Cheng Kheng who had great experience in real estate and appraisal.With continuous growth and increasing trust from customers, CPL has become a member/partner of international organizations such as the Pacific Appraisal Co., Ltd. (Korea) and the VPC Asia Pacific, in association with Cluttons.In order to find out more about the company, Realestate.com.kh talked to Mr. Soth Sokheng, Processing Manager of CPL Cambodia Properties Limited.When asked what the strengths of CPL are, Sokheng stated that “CPL Cambodia Properties Limited offers a full range of real estate services. We specialize in residential, commercial, and industrial property sales, as well as property valuation services. CPL has earned its reputation one property at a time as a talented and trustworthy organization that continually performs at the very highest level.”“Based on our professional experiences, CPL has always earned trust from financial institutions, draw upon developers, and international investors around the world,” he added.Mr. Sokheng also said that CPL has invested in the development of a cutting edge management system called “Portal” where property consultants have a full range of marketing, research, and technological tools available for use at all times. Working within a tightly-knit and highly-motivated team environment, customer support, and online services which they can draw upon are also very impressive.When asked in regards to the residential market of Cambodia, Sokheng revealed, “ Housing are still popping up. We have seen new projects growing, targeting the middle income bracket. The new construction along National Roads No. 1, 2, 3, 4 and No. 5 are targeting clients whose income ranges from $ 250.”Meanwhile, the high-income market seemed to have stagnated, with a looming oversupply. However, this did not result yet in a price drop. The current real estate market in fact, remains stable even with the shift from high-income families to middle-income families.There are also still good opportunities for real estate agents to work successfully and enjoy both the relational (clients services) aspect of the job, and the business and financial aspects as well.Mr. Sokheng also mentioned the unique selling point of CPL which consists in committing to assist and ensure that the client or business owners achieve their goals. He says, “We know that real estate clients want to deal with consultants who have additional knowledge, expertise, honesty, and integrity. We are very committed to achieve all these.”He added, “We understand that customers want to deal with real people. That's why we focus on creating a firm relationship and gain trust and respect from all our clients. This is our company’s philosophy which helps us in achieving personal satisfaction, high morale, and success.”We call ourselves “THE FIRST AGENCY OF CHOICE,” said Sokheng. We also work to be the leading company that provides best selling, renting, and valuation services in the real estate sector in Cambodia.Sokheng concluded that, “CPl also wants to announce to the public that we will celebrate our 20th anniversary on 7th of July 2017.  Our anniversary showcases our hard work, which has brought us from zero to where we are now. We would like to invite His Excellency, Oknha, and everyone to participate with us.”Check out CPL's hottest properties on Realestate.com.kh

A Phnom Penh Housing Market report release by VTrust Appraisal last week has revealed significant growth in investments in the construction sector of the capital -- amounting to a total of $8.5 billion in 2016 from foreign direct investments alone.However these factors in the landed housing market have stirred up questions as to the salability of these new and recently erected developments - particularly in the current demand outlook.The climate in Phnom Penh remains conducive for investment, in comparison to what it had been in 2002 when the first borey projects launched. The report indicates that the Phnom Penh landed housing market has gone a long way since the first landed housing cluster emerged during that time in Sen Sok. Supplies in different districts soon followed, and in 2017 the marketplace is frantic.But Miguel Chanco, lead analyst of Asean’s Economic Intelligence Unit, says that “there have been strong signs over the past few years that the housing market, especially in Phnom Penh, is in oversupply” because of all the developments that have been approved. This is particularly true for the condominium market of the country.In terms of landed housing, the supply reached around 100,278 units by the end of 2016.According to the Phnom Penh Housing Market report, around 28,097 more units will be adding to the supply by the end of 2017.This, Chanco believes, will cause sales to move at a lower pace in the coming years.Yet Chanco says the upcoming landed housing supply will still be filled in the next few years. And this is all thanks to the rising salaries of workers in the capital.Chanco says, “Phnom Penh’s population may be small compared to other capital cities in Asean, but salaries are rising rapidly.”Just last year, Cambodia was already declared as a lower-middle income country by the World Bank. According to them, “Robust economic growth averaging 7.6 percent per year in the past two decades has transformed Cambodia from one of the world’s poorest countries to a lower middle-income country today.”The government also shows no sign of slowing down to achieve high income status by 2050.Chanco, in a separate interview, has this to say about the government’s mission: “I don’t think Cambodia will reach upper-middle income status by 2030, especially given the intense competition of a lot of the countries in the region that are also looking for the kind of investment that would drive Cambodia up over the next 10 to 15 years.”But this may be enough to get investors buying more properties in the future. Chanco mentions, “I wouldn’t underestimate the long-run potential of Cambodia’s overall middle-class.”Other factors that equalise the potential oversupply includes the implementation of more flexible schemes, like a zero-down payment option. These terms are already being offered by various developers in order to extend the reach of the market towards the lower-middle income categories. This increasingly available finance should cause the demand to move upward in 2017."In term of real estate economics, housing markets during the last several years were weighed more by developers' side because of smaller market supply compared to high market demand, so prices increased markedly year-on-year, especially when the houses were erected, said Hoem Seiha, director of research at Vtrust Appraisal and the author of the report.Seiha continued saying, "With the surplus today, however, the market absorption takes longer than it did before, pressing the brake to slow down new supplies as well as prices. This shows an early sign of housing market to reach its equilibrium where supply, demand, and prices go along together in the next couple of years."The report states that prices will begin to stabilize throughout 2017 to 2018. First home buyers are now also offered a range of completed units alongside new developments, giving the market more depth and finance options.Please find out the latest news on Realestate.com.kh now!

On the 2nd of March 2017, the General Department of Housing of the Ministry of Land Management, Urban Planning and Construction signed a memorandum of understanding with the Bun Ches Group co.,Ltd. The signing was presided over by His Excellency Chea Sophara, Senior Minister and Minister of Land Management, Urban Planning and Construction .The memorandum of understanding focuses on  development cooperation for affordable housing project for civil servants, the armed forces, and the general public who are considered to be in the low and middle-income bracket.The Bun Ches Group will be responsible for managing, preparing, and processing the development of the affordable housing project. It will be launched  on the 1st of  May 2017.This is the Bun Ches Group’s first affordable housing project in Cambodia. But the Bun Ches Group has years of experience in construction; they have also completed some projects in Cambodia such as the Toul Kork Warehouse and done townhouses like the Mekong and the Mekong View Tower.This second affordable housing project will be developed on an area of ​​822,160 square meters and will be located in Sleng Dey Dos Village, Prek Taten Commune, Punhea Leu district, Kandal province -- about 21 kilometers away from Wat Phnom, along National Road No. 5.This residential project will have 5,340 units in total which are divided into two different types. The range of units includes 4,476 units sized at 5.1m X 7.2 m and 864 units that measure 5.1m X 13m.The first affordable housing project is located 17 kilometers away from Wat Phnom, Phnom Penh. It had its groundbreaking last 7th of January 2017. And it will be finished in 2018.That project was developed by Worldbridge Land and it occupies a land area of 20 hectares. Within this total land area, about 10 hectares are dedicated to ​​residential housing construction and about 7 hectares are for roads and parks.  The first affordable housing project will have 2,400 residential units which are also targeted to low and middle-income bracket earners. The units will range from $250 to $500 per month and each unit can be sold from $20,000 to $25,000.As for the second affordable housing project, the unit sales prices has not been revealed yet.These two housing projects aim to provide affordable housing for Cambodia’s citizens, especially the middle income workers.Find the best real estate news on Realestate.com.kh

It can be difficult to move through Phnom Penh’s rental market especially if you are new to the market. Recently, various areas in Phnom Penh have been progressing with a wide range of rental houses, like villas with larger areas, apartments that include basic amenities, shop houses, and flats that can be converted either into a retail space or renovated into a modern home. Among the 12 Phnom Penh districts, the potential of each area depends on geography, land price, and surrounding facilities that support the resident’s lifestyle. Since rental agreements are usually at least for a one year period, you have to be sure that you research before signing a new contract. Realestate.com.kh has done the dirty work for you by digging through and compiling all the information you need for the popular areas in Phnom Penh. Chamkarmon Chamkarmon is currently the most popular residential area in terms of modern lifestyle and convenience. There are 12 communes in the Chamkarmon district as well. But the four that are the most popular are Boeung Keng Kang 1 (BKK1), Boeung Keng Kang 2 (BKK2), Boeung Keng Kang 3 (BKK3), and Toul Tom Poung. BKK1 is the most preferred residential area for both foreigners and locals. What type of houses are for rent in Chamkarmon? According to Mr. Roeun Veha of PinPoint Real Estate, there are three types of houses in the residential district of Chamkarmon. These include flat houses, apartments, and villas. What type of houses are for rent in Chamkarmon? How much does it cost to rent in Chamkarmon? The rental price of a flat in BKK1 costs between $700 to $1,800 a month. This is significantly higher than in the other top communes. A flat rental in BKK2, BKK3, and Toul Tom Poung ranges anywhere from $300 to $1,300 per month range. Flats on the inside and flats along the main road vary in prices. A one-bedroom apartment in BKK1 is at around $800, a two-bedroom apartment is usually more than $1,000, and a three-bedroom apartment costs anywhere from $2,500 to $3,000 a month. Meanwhile, BKK2, BKK3, and Toul Tom Poung rental prices for a one-bedroom apartment go for as low as $300 to $400 a month. Villas in BKK1, especially along streets 51 and 63, range from $1,500 to $10,000. Whereas rental prices in BKK2, BKK3, and Toul Tom Poung, are likely to range between $1,000 to $6,000, says Mr. Veha. Why is Chamkarmon a good location for rentals? BKK1, BKK2, BKK3, and Toul Tom Poung area brimming with restaurants, brand coffee shops, bars, karaokes, clubs, markets, malls, saunas, spas, fitness centers, international schools, high standard clinics, and hospitals. So, if you want to live in the real heart of the city, where everything is happening, you should consider taking a look at properties for rent in Chamkarmon. Learn more about Chamkarmon and BKK through our Chamkarmon Location Profile. Daun Penh There are 11 communes in Duan Penh. Four of them are filled with locals and expatriates who are renting houses for short-term and long-term periods. These include Phsar Chas, Phsar Kandal 1, Phsar Kandal 2, and Chey Chumneas. What type of housing is available for rent in Daun Penh? Flats and apartments are available to rent at any time in Daun Penh. Most of the rental houses around this area are renovated second-floor units or renovated flats that are suitable for rent. How much does it cost to rent in Daun Penh? Ms. En Chansreyleak, a sales representative for Yong Yap Property, says that prices in the top four areas are similar. The rental price of a one-bedroom flat is $350 to $800, a two-bedroom flat goes for $450 to $1,500, and a three-bedroom flat is at $1,500 to $2,500 a month. There are also a number of serviced apartments in the area such as the Season Apartments & Residence Co, Ltd and the Kiwi apartment. According to Ms. Chansreyleak, a one-bedroom apartment unit ranges from $600 to $1,200 a month, a two-bedroom apartment is roughly $1,800 per month, and a three-bedroom apartment goes for up to $2,800 a month. Why is this location good for rental? This location is along the riverbank and is near the Royal Palace. There are also a number of establishments that are in the area such as restaurants, bars, coffee shops, night markets, and many more. All these features make this area attractive to tourists. If you're interested in renting in Daun Penh, you can check out the latest properties for rent in Daun Penh. Learn more about Daun Penh through our Daunh Penh Location profile. Toul Kork Property experts speculate that Toul Kork will become the new BKK in the near future. Today, more and more people are moving to the district, especially since it will soon be the location where the Phnom Penh City Center will stand. The residential space in this area also has great potential for both residential and commercial opportunities for both locals and expats. What types of property are available for rent in Toul Kork? There are three types of houses prominent in Toul Kork. These are villas, apartments, and flat houses. As they say, your mileage may vary depending on what and where you want to rent in Toul Kork. How much does it cost to rent in Toul Kork? A rental flat in this area can range anywhere between $300 to $1,500 per month. A one-bedroom apartment can cost anywhere from $300 to $600 a month. Two bedrooms will set you back $800 to $1,000 per month. The rental prices for villas in Toul Kork generally start from $800  and can go all the way up to $6,000 per month. Why is this location good for rental? Toul Kork is the new development area of the city. There are now many new commercial developments rising here. The residential market is also making a shift towards this area. Most importantly, it has easy access to the Phnom Penh International Airport. If you're interested in renting here, you can check out the latest properties for rent in Toul Kork. Learn more about Toul Kork in the Toul Kork Location Profile. Sen Sok Sen Sok has become a star destination for many residential and property developers. This district is located in the northwest of central Phnom Penh and is one of the newest districts incorporated into the Phnom Penh municipality. Sen Sok is primarily known for its affordable residential projects and is the home of the city's largest shopping mall to-date, AEON Mall 2. What types of property are available for rent in Sen Sok? Sen Sok hosts villas, shophouses, and lately, more apartments available for rent to accommodate the growing interest in the area. How much does it cost to rent in Sen Sok? Apartments for rent in Sen Sok range from as low as $250 to as high as $1,500 per month. Shophouses and villas are also available ranging from $500 to $3,000 a month. Of course, there plenty of properties in between. We suggest taking a look at the Sen Sok Location Profile so you can find the right property for rent in Sen Sok for you. Don't be afraid to negotiate! When you want to rent a house in the city, even in popular locations like Chamkarmon, Daun Penh, Toul Kork or other areas, you must be sure of your budget. Landlords will most likely demand a high price. However, you should always be ready to negotiate! Build rapport and ask for a discount or try your best to ask for additional services or furniture. How to Find Houses for Rent in Phnom Penh? If you do not have a lot of time, you can easily use realestate.com.kh to check and compare the prices of the properties you are interested in. You could also consider relying on a real estate agent; they'll save you the headache of sifting through Phnom Penh's myriad of rental listings. Just make sure you do some research and pick a professional one! Don’t know where to start? Take a look at our list of partner agents all over Phnom Penh. Learn more about all the houses for rent in Phnom Penh! 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 on both iOS and Android.  

Cambodia’s real estate sector remains strong and this is what gives investors and real estate agents confidence in the market. But with the abundance of success that agents have obtained, there is now greater competition in the industry, which is slowly becoming a threat to industry standards.Realestate.com.kh recently caught up with Mr. Sorn Seap, Director of Key Real Estate, to get his thoughts on the matter.Seap has worked in the real estate sector of the country for more than 10 years and launched Key Real Estate back in 2010. When asked about this career, Mr Seap said "I’ve been interested in the real estate sector since I was in college. From the very beginning, I saw big potential in this market and I thought that this could be the right business opportunity for me. At the beginning it was hard because people were not used to the role of a real estate agent, and did not know what was their function. Luckily things improved, the market evolved as well as the mindset of the people, which boosted our business.”He added, "the first service we provided was property valuation, and then we slowly added more services such as management and later sale and rental services."Cambodia is a free market, therefore businesses have equal footing in terms of competition. This has caused several issues such as lowering of agents’ fees and lack of vocational training -- especially with private dealers who call themselves estate agents.Additionally, there are not strict regulations for companies wanting to obtain a real estate license. This environment has allowed unprofessional practices into the industry which is slowly pushing the customers to lose confidence in the industry.As a real estate company in Cambodia, Key Real Estate retains its values and professional principles. Sure, some companies have stepped into this sector with a lack of training and ethics, but Seap explains, “We always provide results to customers who come for our services. We focus on long-term loyalty and relationship with by offering an affordable and high quality service.”But things may be about to change with Century 21 Cambodia’s initiatives to create trainings to establish common standards. Specifically, they signed a memorandum of understanding with the University of Economics and Finance to enable trainings for Cambodia's real estate companies. With these trainings, they hope to give more confidence to foreign customers. It is also a big step towards a fair competitive market.Mr. Seap strongly agrees with the creation of training courses for companies and real estate agents. He says, “We are all located on the same road. So, we are all together, helping to make this sector better with developers.” He continued, "This is a good joint market for raising standards and improving the strength in the real estate market. For this reason, I decided to become a member of the Cambodian Association of Valuers and Estate Agents."The country's economy has maintained a GDP growth rate of 7 percent in the past years, with the real estate sector playing a huge role in boosting the economy. As the economy moves forward, we see more development projects establishing their presence in Cambodia. Some of these projects will also be acknowledged through the Cambodia Property Awards 2017 taking place at the end of March. As a matter of fact, Mr. Sorn Seap has been selected as one of the judges of this event. He stated that "It is a great honor to take part in this event. I believe that this event will help to build strong standards in the real estate and construction sectors, towards a better future. " Check out Key Real Estate's hottest properties on Realestate.com.kh

Undertaking a property inspection for the first time can be an overwhelming task. You need to have your eyes open to all aspects and features of the home – because no one wants to buy their dream home and it turn out to be an expensive nightmare! Do your property inspection right and see the benefits into the future. Where possible, it’s always advisable to contact a qualified building inspector to carry out a rigorous property inspection for you.However, the following are a few simple property inspection checks you can carry out yourself:Can you see any water stains or corrosion on the walls surrounding the shower or bath? Or are there any signs of moisture on the walls surrounding the bath or shower? This may be a sign of water leakage, which can be costly to repair.Are the ceilings sagging? When you’re doing your property inspection, take a torch and shine the light across the ceiling - this will show any defects. Is the ceiling fixed firmly flush into place or does it have a ‘parachute’ appearance? If the roof is sagging, you’ll need to contact a builder to carry out repairs to the ceiling sheeting.Check that all roof downpipes are discharging into storm water soak wells and not just discharging onto the ground. You don’t want a flood in your new home when the monsoon season comes.It is also wise to look for any signs of previous flooding around the base of the roof downpipe. This can be an indication that the soakwells are not suitably sized or require cleaning out, which can be a costly maintenance item. If the property does not have the proper drainage, having a soak well installed can be very expensive.As part of any property inspection, look for any large cracks in the walls. Specifically, the inside and outside walls should be checked for cracks over 2mm in width. If the house has excessive cracking you must call a building inspector to check the soundness of the property’s structure.Check inside the cupboards in all the wet areas. All cupboards should be opened to detect if there is a smell of damp, mould and mildew. Any damp smells can be an indication of water leaks and this problem will only get worse. James Whitehead, director of content @ Realestate.com.khWant to learn more - get on Realestate.com.kh today, the best source of information for property buyers & sellers in Cambodia.

Toul Tum Poung -- Russian Market to expats -- has long been a food and shopping destination for tourists and locals. It has a large centralized traditional wet and hard market that displays a wide range of items like electronics, spices, silk, herbs, motorbike parts, souvenir, food, and many more. It is ideal for people looking to do some serious shopping.Toul Tum Poung has been one of the four potential residential markets in the Chamkarmon district. The residential market in this area is continuing to move forward and displaying an increase in both local and international buyers and renters.But if you are considering to rent a property near the Russian market, you may ask yourself what types of housing is available, if the price is affordable, and if it has the facilities that you are looking for are available. Realestate.com.kh is here to answer all your questions.What types of housing is available for rent near Russian Market?Houses for Rent at Russian Market include different designs that are just as eclectic as the country's culture. These include Khmer style properties, mixed-designs, and European-style houses. Mr. Yim Socheath, the director of CDN Property Co. Ltd, said there are three types of houses for rent near the Russian market, these include: flats, villas, and apartment houses. You can find either commercial houses or residential houses in the front streets or the secondary street, respectively.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 the area near Russian market good for renting?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.What does a good rental house look like?Looking for good house for rent can be difficult, especially if you have a tight budget for your monthly expense. This is why focusing on what is essential matters when you go get rental houses. Once you have the basics, good interior design makes a lot of difference to your rental house. You can play with paint color on walls or window, floors, and furnishes. These are simple solutions you can try.Are there many amenities near the Russian Market?The Russian Market is characterized by its diversity. It offers both historical value and modern infrastructures. At the moment, Russian market is also filled with construction of modern establishments.There are a mix of local and international restaurants such as Long After Dark, Divine Pizza and Ribs, Roots and Burgers, Sesame Noodle Bar, CrossFit Amatak Kettlebell Cafe, and other seafood restaurants. There are also a number of hotels in the area such as the Somet Hotel and Apartments and The Frangipani Living Arts Hotel and Spa. Bars, fitness centre, business centers, medical center, international standard schools,and condominiums are also located around phsar Toul Tum Poung.In the next 4 to 5 months, brand companies such as Brown Coffee, Starbucks Coffee, and Pizza company will be added into the Russian market area, Socheath said.Learn more about Toul Tum Poung!How can you find Houses for Rent at Russian Market?It’s complicated to look for a rental house in Toul Tum Poung because you’ll need enough time and connections -- especially if you’re a newcomer in the city. Generally, there are plenty of ways to find houses for rent near the Russian market. This includes using online search engines, newspapers, magazines, and brokers or agencies.Socheath advices to rely on a trusted real estate agent to help find the most suitable housing. He continues to explain that it’s good practice to search for real estate agents who are under licensed companies. Using the services is free of charge for the renter, and by arranging several visits in one day, they can really  help you to save time. “We,provide services in a very efficient and trustworthy manner to our clients,” Ms. En Chansreyleak, Sales representative at Yong Yap Properties said. She explains, “We understand the needs of the clients. In addition, we provide counseling and help solve problems they might face during their stay. Honesty and professionalism, this is what you should look for in real estate agents, to help find homes for rent or sale.”What are you going to spend beyond monthly fees?If you’re looking for a new house for rent near the Russian Market, it’s also important to consider extra costs you might encounter. Those expenses may include maintenance and utility fees such as electricity power, kitchen gas, internet, and cable.For serviced apartments, all these fees may be included in the rental fee, except electricity.An increasing number of housing developments are also popping up around the Russian Market, which is proving very popular with local buyers and renters who are seeking shop houses, villas and apartments with sound infrastructure and a safe, peaceful, neighborhood environment.Learn more about all Houses for Rent at Russian Market!

Partnerships can be a powerful tool for the of a successful business; 360 Ads & Events has organized a public forum, with both local and International companies, in order to fulfill a collective calling towards better collaboration for Cambodian businesses.On the 16th and 17th of February 2017, 360 Ads & Events held a forum called Wealth Building at Sokha Hotel.This forum was the first platform in Cambodia that aimed to assist various groups such as youth, students, startups, real estate experts, and general public. The goal was to better educate them on financial and business matters so that they could reach their business targets in the most meaningful way.Ms. Dary Dek, Managing Director of 360 Ads & Events, said that the Wealth Building program was an event that combined three fairs in one single forum: wealth, marketing, startup. The objective of the event was to create a new platform for financial education for the public, to display the potential of new startups and to promote networking among business partners, and investors. It also aimed to bring associations, businesses, and the Junior Chamber International together to promote dialogue and cooperation.The two-day forum was divided into eight seminar sessions to provide different perspectives from several speakers. The topics of the forum included “Should You Quit Your Job and Start a Business?”, “How to Create Multiple Incomes”, “How to Recruit the Right Sales Team”, “E-commerce and How You Can Benefit”, “Basics of Real Estate Investment”, “How to Benefit from Startup Supporters and Investors”, “Practical Tips in Setting Up a Strong Marketing Team”, and “Building Personal Brands Using Social Media”.The speakers, did their best to motivate and encourage young students and entrepreneurs to start their own business and create business plans.Mr. Phul Puthy, the co-founder of Small World Cambodia suggested to the public that “if you want to start a business, first make sure you know what you like to do and what your interests are. Once you know these, try to build your business around it.”Chy Sila, the CEO of Sabay Digital Corporation, also shared the same ideology. He said, “If you are thinking of starting a business, make sure that fits your interests and your passions, otherwise you are likely to run into failure.”The young crowd participating at the event seemed very interested and motivated by the topic covered. Mr. Sok Sinat, one of the many students who joined the event, with his friends. He said, “I like to take part in this types of forums since I think that is very beneficial as I can learn new things that are not generally taught in the classroom. More importantly, it helps me to gain knowledge about the current market, new business concepts, and opportunities.”A staff member from a real estate company, Mr Van Vichet, said, “This forum helped me to understand how to set up a new business and a good sales team. I also, had the chance to meet successful business entrepreneurs, who shared ideas and tips about their businesses.”In conclusion, the forum successfully completed its two-day run with more than 200 participants who visited the 40 stands and attended the seminars. 360 Ads & event will be running more events and forums in the upcoming months.Find the best real estate news on Realestate.com.kh