Many Cambodians are faced with the question of whether it makes most financial sense to buy or rent a property, whether it be an apartment or condominium in downtown Phnom Penh, or a villa or shop house around the border city limits.Others are looking for purely business purposes, and some want a piece of property fit for both living and commerce.Realestate.com.kh spoke with real estate industry insiders and a range of buyers and renters to get their opinions on what is the best option for those seeking a property now, but not sure whether they need to buy or rent a property…Buy or rent a home for living?Home ownership is very common in Cambodia, and most local families aspire to owning their own home and having total control over that property. Yet, despite this desire to have a place that is truly yours, for some purposes renting may make more sense in terms of you and your families long term financial health.Advisor of VTrust Appraisal, Mr In Setha comments that, “buying a house to live in is better than renting one.” The reason being, as the price of property continues to rise in the Cambodian market currently, your purchase now should become a more valuable asset in the future.“As the population grows in Cambodia, through both local increases and immigration, more businesses will start. This will lead to more demand in the market overall, and the price of property will generally increase too. When the home buyer of today wants to sell that home in a few years, they will come out with a profit,” says Setha.He continued to say, “if renting a house, you need to pay the rental price and other operational costs every month, and these costs can become quite expensive. If you can afford to purchase a home outright, instead of paying your landlord, why don’t you choose to buy a home and pay part of your own money and some via a home loan paid back in affordable installments.”That way, “Ten to fifteen years later you possess a residential asset.”Mr. Va Vireak, chairman of Century 21 Fortuna Investment, agrees that if you need a house to live in, buying is a good choice, whether or not you have enough money to buy now.“You can manage the costs with a bank loan and then you have your own asset on 10-15 years,” says Vireak.He adds one warning, however, “you must make sure you have a safe income every month to pay the installments for the bank loan, or else it is very risky to take a home loan. Only borrow what you can afford to pay in installments and don’t be greedy.”Mr. La Sithol, a recent homebuyer in Phnom Penh, said that, “When asked if I should buy or rent a home, I prefered to buy a house. Buying a house is good because in the future the price of this property will only increase. Even if it puts you in debt now, you can profit in the future.”“Personally, i believe by buying a home you are investing in the future,” said La.La also mentioned that “if you don’t have enough cash to buy upfront now, or are unable to borrow from a bank, rent an affordable house for the time being, and save your extra money to invest down the track. Don’t waste your money renting the perfect house - instead, live cheap now and save for your perfect home in the future.” However, Mr. Ky Sophoeun, a teacher in Phnom Penh said that, “I think that renting a house is a better option for those in business, because by not committing to a home loan or large upfront payment, we have more capital to inject into our growing business.Sopheourn continues, “It is even better if you can use that rental house for dual purposes, living and running a business: If you can lease a house at the right place and the right location, it is not only a convenient place for you to live with your family, it is concurrently available for doing business to generate more money. This will soon legitimise your rental rates.”Sopheourn says, “Renting a house allows us to have some extra capital to operate the business. If we spend all our savings purchasing a house outright, all money saved will flow into that payment or into supplementing the home loan, and there will be no money left for trading, and that means no money coming back either!”However, Sopheourn does say, “But, if we have enough money for a house, let’s buy - but always make sure we still have money do business!”What about when purchasing a business property?Mr. Chhim Saolim, staff of a financial institution in Phnom Penh said, “The situation is different depending on what you need the property for: if it is the place to live, buying a home is better. But if it is for commercial uses, renting is always better.”He explained that, “for business purposes, renting is always the best option. Why? Because a business is always changing… When you are just renting, you are able to be flexible to this natural change when it occurs. If your business grows, you can change your property - and the same if it shrinks or changes its purpose.”However, Va notes that, “While renting a place is generally the best option for a business, for an established business buying may be the right choice. For example - your company has a very good brand and everybody knows where it is, and it is perfectly set up for your business operations; If you are renting and then the contract for your office ends and you cannot renew, nobody knows where you are anymore and you lose the setup you have. Meanwhile, someone else can use your business property if they take the rent, which is already perfectly set up for your kind of business, and start to do the same business. What happens for your business then?”Want to learn more about investing your money in property? Get in touch with the leading real estate agents in Cambodia today!

Jum reap sour! And welcome to another Realestate.com.kh property review. On this week’s show, we’re live at Apennines Condominium showroom in Phnom Penh with Ms. Vatey, sales manager at the Apennines Condominium project.See the full listing and inquire today!Tell us about the location of Apennines Condominium:Apennines is a modern condominium strategically located in one of the fastest-appreciating districts of Phnom Penh city - Toul Kork. More specifically, the location of our project is at house 40, Street 604, Sangkat Boeung Kak 2, Khan Toul Kork, Phnom Penh - just right behind Pannasastra University Toul Kork Branch. Apennines condominium is located just 10 minutes drive from Phnom Penh International Airport, and is also surrounded by schools, restaurants, supermarkets, sports clubs, coffee shops and entertainment centers.Tell us more about the developer:Apennines condominium is developed by KHSI INVESTMENT PTE LTD, an award winning architecture & engineering company with a wealth of experience in both Malaysia & Singapore. KHSI is uniquely committed to optimizing best standards and creating modern and quality lifestyle living through innovative and creative means.What sort of features does this condo have?Standing a total of 17 storeys tall, 1, 2 & 3 bedroom condos are available in a variety of sizes. All units’ interior has been uniquely designed by Singaporean experts, and fully equipped with high quality fittings. Shared condo facilities include a swimming pool, pool deck, gym; and the unique perfect car parking system, a car parking elevator.What does KHSI offer to buyers?Home loan is available through RHB and Phillip Bank.Freehold ownership titles, for locals and foreigners. Full security (CCTV, security guard 24/7).Great common facilities such as swimming pool, fitness center, gardening and minibar.Full property management and maintenance of the building (interior and exterior). An enticing GRR package of 6% annually.The first Car elevator parking system ever to be used in Cambodia, which is efficient, secure and convenient - and maximising space. How does Apennines Condominium stand out above the rest of the condos coming online in the market?Our architectural design (interior and exterior) is from award winning architect, EDP Architect Malaysia. Our engineering structure has been designed by LSW Consulting Engineer Singapore. The structure of the building includes reinforced Concrete walls and transferred floor technology, a feature unique to other projects currently in Cambodia.And our project is located in a residential area that is a hotspot for potential investment returns.  What types of Units are available?Type A: 89.72m2; Type B: 132.62m2; Type C:  67.74m2; Type D: 110.22m2 - with prices starting from $150,000.If you want to find out more, come and take a full showroom tour with Ms. Vatey today in Toul Kork; and while you are there, check out the construction progress of the project, located just down the street!See the full listing and inquire today!

As with established markets all over the world, the Cambodian real estate market right now is an outcome of an evolutionary process that involved many things. And much of what it will become is part of that evolutionary process.This is what the Chairman of the American Chamber of Commerce in Cambodia (AMCHAM) and the International Business Chamber (IBC), Mr. Bretton Sciaroni, believes.In an exclusive interview with Realestate.com.kh, Sciaroni discussed the many factors that have played into shaping the laws, policies and environment of the Cambodian real estate sphere as we now know it.Cambodian Real Estate in the Past:As one of the first foreign lawyers in the country, Sciaroni has had vast experience in business dealings and law in the Kingdom. In fact, he negotiated the first foreign investment deal in 1993 for a $60 million brewery venture.Sciaroni recalls that it wasn’t always smooth sailing for the real estate market. He says that after Pol Pot was kicked out, the communist constitution made it difficult for the citizens to go back to their former land because all the land title documents had been destroyed. But around 1988 or 1989, a proper land titling system was put into place.Another key event that shaped how Cambodia real estate transactions are made nowadays was the National Elections in 2008. According to Sciaroni, it was normal for activity in the real estate market to slow down months to a year before elections. However, the international financial crisis added another layer of issues that the government needed to address. Sciaroni adds that at this time it was a “superheated real estate market environment.”Cambodian Real Estate Now:The country has since recovered from those tough times.When asked about why he stayed despite having to go through those hurdles, Sciaronii says that “the growth rates have been unbelievable.” A contributing factor to this is that the government is now very open to foreign investment and the citizens are more confident in the electoral process.As evidence of this growth, new developments like the Exchange Square building and the prestigious Shangri La are already underway.Sciaroni notes though, “So much needs to be done and so much can be done”.He says that the current challenges that Cambodia faces are only stepping stones to a more dynamic future for the Cambodian real estate industry, and the society as a whole.Cambodia’s Bright Future:The past has proven to be the perfect testing ground for Cambodia’s potential.And with many changes, such as having His Excellency Chea Sophara take over as the new minister for the Ministry of Land Management, Urban Planning and Construction, it can only get better, says Sciaroni.Now we have an improved communication system where industry professionals and the government can have an open dialogue. Sciaroni believes that the past is not bound to repeat itself in these new times with new approaches.But he adds that there are still many more things that need to be set in their proper place. He says, “So, what we need to do: we need to encourage the government to continue to work towards getting the laws and policies in place. We really need these laws and policies in place to help the growth continue.”Cambodia is one of the new lands of milk and honey. It’s a land of opportunity, but it definitely will not come without a little bit of work.Learn more about investing in Cambodia today!

The perception of foreign nationals towards Cambodia often seems to have grown old like the ruins of Angkor. In fact, there is more to the country than temples...There is an understanding among some international investors and businesses that the country is still underdeveloped and poorly regulated. This is a myth Dr. Simon Vancliff, Investment & Development Director of ING Holdings, the developer behind ING City, has debunked during the recent inaugural Cambodia Property Show organized by the leading real estate portals of Singapore and Cambodia, PropertyGuru and Realestate.com.kh.Vancliff explains that this is far from the truth. In fact, there are large economic zones and developments coming to Cambodia, and this is increasing every year. In fact, just this year, Coca-Cola has decided to invest $100 million into the Phnom Penh Special Economic Zone in order for them to be able to build a plant and expand their distribution inside the country and region, as according to the Phnom Penh Post last April.Large business entities have also established ties with the country such as Akira, Toyota, Samsung, ICBC, BMW and Suzuki, just to name a few. These companies, Vancliff says, recognize not only the inexpensive labor they are able to harness, but also the political stability of the land and its foreign-investment-friendly environment.He also enumerates other reasons why investing in Cambodia is ideal. Other than political stability, Cambodia has an advantageous location in the region, favorable investment climate, largely dollarized economy, increasing trade integration, improving transport and connectivity, lower costs in telecoms and internet, untapped natural resources and land, underpenetrated and growing domestic consumer markets, an unleveraged financial position, stock exchange and a flexible financial market. Furthermore, since the population is in the bracket of the working-age population, the demographics are also well suited for investment.Vancliff mentions that the Cambodian stock exchange will have around ten to twelve more companies joining soon and will continue to grow. He further strengthens his case by stating that Cambodia is now truly the “Pearl of Asia”, having a more centralized Governance system, and is raking in huge investments for infrastructural upgrades. As an evidence of this, more and more airlines are creating direct flights to Cambodia every year.One of the Kingdom's traditional weaknesses for investors - electricity costs - are also predicted to go down as more and more clean and solar energy plants are on the way to creating better solutions for energy consumption and supply.This will be especially true in Cambodia property areas like South Phnom Penh, says Vancliff, where the population is less dense and have more centralized amenities, such as water. Vancliff adds that there are also plans to install underground fiber optics and phone lines. New roads are also coming thick and fast, such as Hun Sen Boulevard, that will open in mid-2016. This will allow easier transport and access to resources that are once unavailable in the area.As the Cambodia property market and infrastructures grow, Vancliff hopes that the worldview towards Cambodia encompass more than just about the Angkor temples. While its grand history has been preserved, Cambodia continues to push towards global economic competitiveness.Want to find out more about Cambodia? Check out news and updates on Realestate.com.kh now!

With the release of 13,730 new condo units through ‘off-plan’ proposals during the first half of 2016 in Phnom Penh alone, it seems that there is no backing down for developers in the real estate market in Cambodia as both the number of condominiums being built and the number of sales in the market continue to rise.But if you’re a property owner or investor, you may want to consider getting a dynamic property management team like Emerald+ so that you can avoid the stress of juggling different aspects and requirements of your investments. Whether it’s your first property asset or you are aiming to diversify your portfolio, Emerald+ offers an all-around property management solutions to protect your property from both anticipated and unforeseen issues.Taking a 360-Degree Approach:In a recent interview with Realestate.com.kh, Ms. Sou Monypich, General Manager of Emerald+ said that the demand for property management services will begin to rise in the next couple of years - just as the supply in different real estate markets increases drastically as well. She adds that the involvement of Emerald+ in various large-scale projects during this time of growth has given them an advantage that allowed them to develop a competitive standard of operating procedures to benefit both the customer and the property owner.Among the services Emerald+ has to offer is property maintenance, customer care, staff trainings, audits, asset management, marketing, and even equipment provision. They also provide their services for a wide range of property types including condominiums, boreys, and corporate offices.Venturing Out:During the interview, Ms. Monypich also mentioned Emerald+ is working alongside its sister company, Emerald Architect, to provide well-rounded solutions to help cover other aspects like landscaping, design consultancy and construction for both the interior and exterior designs of a property. She adds that this is a step towards bridging the gap in the current market where there is a shortage of companies providing these sorts of services.They have also branched out into offering effective business solutions through the Emerald Hub by creating a co-working space where young entrepreneurs can nurture their skills and ideas to pursue the start-up businesses that they are trying to build with limited means.The Heart of the Company:Ms. Monypich also states that the strength of the company, the heart of Emerald+, lies in the skills and the wellbeing of its people. This is why they provide comprehensive and ongoing training for all of their staff.More than that, Emerald+ also teaches their employees the value of good and meaningful customer service, which is vital to their business model. This is accomplished through various activities that enable their employees to attend and organize charity events that make a significant impact in communities across Cambodia.Despite its young age, the company has accomplished a lot already. It is a testament to the capacity of Emerald+ to follow through with their promise of total property management and protection.Find out more about Emerald+ today!

On the 3rd of August, 2016, Emerald+ Property Management Services signed an exclusive agreement with the committee ownership and development company Chroychangva.This is in conjunction with the property management services that they will be providing for the Borey Grand Chroychongva project. These properties will include 4 types of residential properties. Namely, the grand villas, single villas, twin villas and flats.In this agreement, Emerald+ asserts that they will only offer management services that are of high standards and quality.Chen Yuxian, the general manager of Grandvision International Development Co.,Ltd and the representative of Borey Grand Chroychangva, said that “Property management services are significantly important for borey projects. These include security protection, social order, and environmental protection so that the borey space will remain aesthetically pleasing and clean at all times.He added that Emerald+ offers the best suited partnership for the relatively new industry of property management in Cambodia because of the professional standards of their work and the qualifications of their human resources.Meanwhile, Ms. Sou Monipich, the general manager of Emerald+, said of the agreement that “offering property management services that are flawless and oriented towards a great customer experience is the stance of the company because of its long term vision for being in this business. Emerald+ sees itself as a company that will adhere to both national and international standards of quality into the future.Grandvision International Development is very busy with the next property development project which is named the Borey Moon Town. It will have 5 types of residential properties and will strategically be located along Oknha Duong Ngeap road, Sangkat Teuk Thla, Khan Sen Sok, Phnom Penh.Emerald+ Property Management Service is a big real estate management company that is licensed by the ministry of commerce. It will open its operation with various partners like UEMS and Nature Landscape who are both huge and famous companies in Singapore, They are known for their expertise in property management and developing natural gardens (landscaping), respectively.For more information, you can contact EMERALD+  today.

Everyone needs a warm environment where they can live with their loved ones. So before you decide to buy a residential property, carefully consider a few things first such as its atmosphere, it's construction quality, and its potential for future investment. These are just some of the things that shouldn't be overlooked in the buying process. The Borey Villa Toul Sangke development project has gained popularity mainly due to its success in selling its past projects. It is strategically located in the Russey Keo district in Phnom Penh, Cambodia. They offer residential units such as landed homes and condominiums.The Borey Villa Toul Sangke project includes a variety of villas and condominiums that come in different sizes that you can choose from. Each and every home has been designed by construction professionals with quality and beauty in mind. Attention to detail is obvious. Some of the villas that are available are the Single Villa, Link House, Twins Villa, and Flat houses. Families will  also have the flexiblity to choose the City Sangkeo villa type too, as they see fit.Check out full listing on realestate.com.kh"We think about the quality and the best standard of living for families. The Borey has been completed. For all projects, the Borey is almost sold out. The condo project started construction and is at around 20 percent completion. And an estimated 30  percent had already been booked. We also have a special offer for customers which is a 10 percent discount for owners who have paid off their residential condominiums. At the meantime, the developer also provides ultimate offer that only require customers to pay $ 660 in per month with no interest and no deposit. The Borey Villa Toul Sangke condo project concept is focused on helping locals change their standard of living and pursing a more modern life. It also aims to make you feel comfortable. This residential property is exactly that. It brings a high standard of living, which is fully furnished like a 5-star hotel." This is according to Mr. Andy Kong , the general manager of the Borey Villa Sangke company. Ky Kosal, an employee of a private company, says, "After I saw the showroom of the different projects from Borey Villa Toul sangke and researched about it, I think that this is a good projects because the investment location is just near the new Aeon Mall and because it also has a great future investment potentials."Living in the Borey Villa Toul Sangke project offers a more modern, stylish, and luxurious way of living for you the people you live with, whether it's your friends or your family. The Borey Villa Toul Sangke project also has an extremely competitively-priced condominium development located in Russey Keo. It is situated in the business district, which is really close to the main road, government institutions, shopping malls, riverside, sports clubs, banks, hospitals, schools, and entertainment. More importantly, it's also very near the toul Sangke market.The Borey Villa Toul Sangke project consists of around 174 residential units with various designs, all of which were made with the vision of providing spacious, and comfortable homes for individuals and for families. There are also a range of amenities which include swimming pools, a sauna, a gym, a small market, and a golfing club. So, families are sure they will never run out of things to do and places to go to. Check out full listing on realestate.com.kh

In the process of selecting residential properties, more so than the price, it is important to make sure that it will provide the best standards of living with high quality construction materials to make it ripe for long-term appreciation and future resale or rental value.It is also helpful to consider living with your family in a home that has good environment, and is comfortable and modern. This is what The Penthouse Residence is offering in the heart Phnom Penh. It is an upcoming world-class condominium project that will suit the needs of people who are looking for a more modern flare in their lives.The Penthouse Residence is strategically located in the most desired residential area of Phnom Penh, the capital city of Cambodia. It is the majestic and luxurious condominium project that stands along Sothearos Boulevard, right in front of landmark establishments such as Aeon Mall and the five-star Sofitel Phnom Penh Phukeethra Hotel, and close to many other useful institutions such as embassies and international schools. In addition, this 36-floor tower (about 130m high) is also located close to the Chaktomuk riverside and the fast developing district of Koh Pich (Diamond Island).The developers and contractors have been working hard day and night since the groundbreaking last March 12th, 2016, to ensure that The Penthouse Residence is built according to the highest standards, especially in its foundation work. In a span of just 4 months, the pile boring and foundation work are almost completed. And with the construction going at this rate, it is safe to assume that this project will be finished even before the proposed deadline at the end of 2018.The Penthouse Residence will not only be built with highest quality, lavish decorations, and the safe environment in mind, it will also be built in partnership with many other well recognized construction suppliers includes CPAC by SCG Thailand.The interior designs will be done by Sangiorgio from Italy; 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 provide nothing but the best functional and long-lasting products. This helps ensure the project’s safety and build the trust of our customers, now and in the future.According to Mr. Imsouchivy Suos, the assistant project director of The Penthouse Residence, “The Penthouse Residence will offer both great quality and value in real estate market. The project has sold over 50 percent of the units already and has been one of the best-selling condominium projects in Phnom Penh so far due to its prime location, best quality, and reasonable price. We expect to increase our sales to over 70 percent by the end of the year. At the moment, we also offer 5 percent discount and an iPhone 6s for those who decide to book our condominium unit today. Guaranteed Returns of Renting (GRR) will also be offered at 6 percent per year or 18 percent for first 3 years.”For more information please check out the full listing on realestate.com.kh today!

Singapore – 21 July 2016: SGX Mainboard Listed HLH Group (HLH) has reported strong demand for its first real estate project in Cambodia. D’Seaview, a mixed-use development of 737 residential units, has sold more than51% to date.SEE FULL PROJECT INFORMATION AND INQUIRE TODAY! The project was successfully launched in Sihanoukville (the third largest province in the country) in September 2015 and the groundbreaking ceremony was held in January this year. Following the successful launch and strong demand for its residential units in D’Seaview, the commercial spaces and the balance 51% of its 737 residential units with an estimated market value of US$88 million, are available for sale. Meanwhile, construction is well underway. The contractor has now confirmed that 100% of all piling work is complete for the D’Seaview Project, as of July 18, 2016. Ryan Ong, Director of PH One Development (Cambodia) Limited, stated at a recent press conference on-site, "I look forward to stand here again in 2018, upon the successful completion of this project." One of the key highlight of the commercial spaces is a 10 stories boutique hotel – the first to be built by a Singapore company in Sihanoukville - is the country’s premier seaside destination for international tourists. The hotel will have up to 98 rooms where HLH will seek boutique hotel operators in Cambodia or the region to invest in and operate the hotel. The commercial units of D’Seaview, which includes a good mixture of commercial spaces, retail spaces, two commercial buildings and a grand tower of ten-storey boutique hotel comprising of up to 98 rooms, are scheduled to be completed in Q4 2017, while the residential units for D’Seaview are expected to be completed by 2018. Dato Dr Johnny Ong, CEO and Deputy Chairman of HLH Group, says “This is a highly opportunistic time to leverage on Sihanoukville’s booming growth by expanding and growing our businesses. Sihanoukville’s tourism growth has been on a rapid rise in recent years. There are many international light industrial parks and special economic zone being set up in the province as Sihanoukville is a deep-water seaport. It is also the third largest province in Cambodia with an international airport.” To kick-start the construction of D’Seaview, the Group has awarded the construction project to Yanjian Group (Cambodia) Co Ltd for US$36,797,993.93. Yanjian Group (Cambodia) Co., Ltd is a subsidiary of Yanjian Group Co. Ltd – a global engineering and construction company listed in the Engineering News-Record Magazine as among the Top 250 Global Contractors. HLH will issue a 30% advance payment to Yanjian Group (Cambodia) Co., Ltd for the construction project. The parent company, Yanjian Group Co. Ltd will provide a 40% performance guarantee on the construction amount to ensure the successful completion of the construction. The D’Seaview project is not expected to have any material impact on the financial performance of HLH for the financial year ending 31 December 2016. About HLH Group Limited:HLH Group was founded in Singapore since 1988, from a sole proprietorship providing construction services to a regional property developer and producer of raw and processed agricultural products. It has been listed on the mainboard of Singapore Stock Exchange since June 2000.The HLH Group operates two core business segments: Property Development and Agriculture.Since the establishment of the Group’s Agriculture Division in Cambodia in 2008, it has become one of the largest privately owned cassava plantations in the Kingdom with land size approximately 11,000 hectares. The Agriculture Division is focused on agricultural investment & development, as well as the cultivation of cassava and sugarcane through collaboration with joint-operation partners.A new cassava starch production line was recently added, capable of producing up to 120 tons of cassava starch daily. The setting up of the cassava production line is part of the group’s overall strategy to extend its agricultural production chain downstream from farming to harvesting to value-added processing on our produces. Currently, the factory is producing around 80-100 tons of starch daily.The Property Division, which has successfully completed numerous projects in Singapore since 2001, officially started its overseas property division in 2015 with the launch of its residential brand “CAMHOMES”. It has also unveiled its first overseas mixed development project called D’Seaview, which will be built in the port city of Sihanoukville. The only deep water sea port in Cambodia. Under “CAMHOMES” the Group will aim to launch more high quality and affordable housing developments to target the growing middle income residents in Cambodia.   SEE FULL PROJECT INFORMATION AND INQUIRE TODAY!

Sun Fair Market is set to be the first flea market in Cambodia, with a huge range of consumer goods and materials, kitchen and office equipment, antiques, artifacts and all sorts of other bits and pieces for sale.Sun Fair Market will be launched in early August, this year, and will be open to the public from 8am to 12 noon inside Olympic Stadium, Sangkat Olympic. According an interview with CTN, Mr. Kem Oeun, founder and director of the Cambodia Japan Cooperation Center and the President of the Association of Trade and Investment Cambodia – Japan, said that “Sun Fair Market will be full of used and secondhand goods. By sharing and selling these home goods these can then be reused. It is a common thing in other countries, but it is the first ever in the Kingdom.”Kem continues, “The location for our sales are very good, inside Olympic stadium, and the selling will start from 8 am to 12 pm every Sunday. We hope each market day will bring big crowds to Olympic stadium.”He added that, “this is the Japanese culture concept called ‘Mottaina’ - passing on things which we no longer use or do not need to others who need them, and saving the environmental damage of just throwing the used things away.”Ms. So Chanleakhena, fresh-graduate from Korea and currently working in private company in Phnom Penh, “Yes, I’m extremely excited about this project. For one thing, Sun Fair Flea Market is a way to get rid of things I am not using in a really useful way, either financially or emotionally - and by emotionally I mean, giving them to people in need. My house and room will undoubtedly become more spacious and tidy.”“‘Kill two birds with one stone’ is a suitable expression for this, I guess. Also, this can be seen as a chance for Khmer people to start socializing, understanding and helping each other. I’m pretty sure that the project could evoke our beautiful and priceless ‘culture of helping’, which we used to possess.”Sun Sinett, designer and private company staff in Phnom Penh, agreed with this concept: “When you buy from the fair flea market you’re not helping the big business to get richer and bigger.”“Instead,” continued Sun, “You’re helping your community and saving the world’s resources by recycling! It could be a gathering that you can enjoy networking with neighbors and friends.”According to the Facebook page of Sun Fair market, the profits derived from operations will be distributed to Olympic stadium, 25%, Foundation Leng, 25%, 5% to the Kantha Bopha Hospital and 5% for the Sunrise Japanese Hospital. The remaining 40% will be given to operating personnel.

The Kingdom of Cambodia uses the Cambodian Riel as its primary currency and, unofficially, the U.S. dollar as its secondary.But this may soon change as the tourism ministry urges businesses to facilitate and allow the use of the Chinese Yuan for transactions as part of their “China Ready” plan. This encouragement comes not long after the news that around 2 million tourists from China will make their way annually to Cambodia by 2020.Having close diplomatic and historic relations with the country, Chinese citizens and tourists feel as if they’re right at home when they visit Cambodia because many Khmer people also know how to speak the Chinese language. But this move addresses more concerns than just goodwill between the two countries. Owners from various businesses have a fear of financial losses as a result of fake currencies and the fluctuating exchange rates, according to a recent Cambodia Daily report.Renaud Fichet, co-owner of the Abacus Garden Restaurant and Bar, says that “as long as they come to the place,” he’s fine with trying accepting the Yuan currency. Others aren’t as forgiving of the idea. Penh, says Khemmara Niza, Manager of the Sentosa Silk Shop in Phnom that this may just cause an issue of redundancy. Already seeing trouble with determining fake U.S. money, she says that accepting the Yuan currency may produce the same issue because local staff will not be able to determine its authenticity. She adds, “We don’t really know about Yuan money.”Anthony Galliano, ceo of Cambodian Investment Management, said that, “The government’s “China Ready” initiative makes sense as it addresses the fact that Chinese tourism is the fastest growing and likely to be the number one tourist inflow market for Cambodia.” Yet, Galliano disagrees with the recent encouragement from the ministry: “While encouraging the hospitality industry to accept the Yuan as payment simplifies financial transactions for Chinese tourists, it unfortunately complicates them and heightens risks for the recipient of the Chinese currency. In addition to assuming exchange rates risk, being able to properly identify counterfeit notes, and having to agree rates with generally financially shrewd visitors, the Yuan is not a freely convertible currency and is unlikely to be so in the near future.”Concerns of exchange rates which may lead to losses have also been brought up as a possible result of this.An unnamed local bank manager noted that, “maybe we should be encouraging local merchants to use point of service (POS) digital devices instead - that way, we don’t need to use cash at all of any currency – that would be a better solution to attracting more tourists.”For now though, accepting Yuan is still just an encouragement from the Government. Businesses are still free to choose whether or not they will take a risk or take the plunge and embrace this suggestion.

July 28, 2016 - Phnom Penh, Cambodia Officials have announced that they will be introducing a new category of visa for foreign retirees in Cambodia which will be called “Category ER Visa”. According to the director of the General Department of Immigration, Major General Veasna, this ER Visa entails a minor change in requirements where foreign retirees will have to present documentation from their home country that will prove their financial stability and capacity to live overseas during the duration of their stay. It’s important to note that expatriate retirees already on the “Class E” or business visa will not be required to change their visa type or apply for a new one, but they will be given an option too. Retirees currently residing in Cambodia appear to have no objections to it as well. One retiree, 49-year-old Bruce from Queensland, Australia, currently residing near Wat Phnom, says that this ER Visa is a welcome change, however “most expats staying here will not switch to a retiree Visa unless they have no choice but to do so.” This is probably because business visas have been beneficial because of the lack of enforcement. Many retirees on a business visa have been able to stay for longer periods through a visa renewal every year without actually being employed or owning any business entity in Cambodia.Read more about Retirement Visa in Cambodia here with our comprehensive guideClick Here

The Cambodia Constructors Association (CCA) will soon go on a study tour to meet with the Building Construction Authority (BCA) of Singapore, to visit and learn more about the Building Information Modeling (BIM) on 7th to the 9th of September, 2016. Interested companies may register with the CCA secretariat no later than 20th of August 2016.Proposed Program Itinerary - 8 September 2016 (Thursday):If you or your company interested in joining this tour with the Cambodia Constructors Association (CCA), please contact us Mr. Vutha today on Tel: (855) 60 888 944 | 10 94 76 40 or Email: vuthatim01@gmail.com

Realestate.com.kh caught up with Andre de Jong, Managing director of Bosch in Cambodia and Chairman of the Real Estate and Construction Committee of the EuroCham Cambodia, to find out what the European chamber of commerce in Cambodia is currently doing to assist the progress of the real estate and construction industry.In this interview, we find out more about the initiatives being pursued to develop Cambodia’s green building sector.Tell me more about Eurocham's green building focus? Why is this directive so important in a nation such as Cambodia?Green building is currently still under the Green Business Committee which is one of the other working groups of the EuroCham. However, the RECC has recently started to work more closely with the Green Business Committee on this topic. We have two members from the Green Business Committee who are actively joining us.Green building has become an important topic for many countries. In Cambodia, although the concept is still new, there has been a growing interest among not only foreign investors but also local developers to ‘go green’.Recently, there is a worldwide rollout of a new green building certification called the EDGE which is available for free in 125 markets including Cambodia. The concept would be even more receptive and attractive if the government granted tax benefits to developers who adopt the green building processes.The green building concept is becoming more relevant and essential globally. We have witnessed the impact of the climate change over the last decades with the recent years becoming more significant especially in Cambodia where there was a dramatic increase in average temperature, a longer dry season and more rainfall during the wet season. It is important to focus on regenerative solution for the green building that includes green architecture, energy-efficient solutions, and smart technologies that save energy. Smart technologies will play an important role in this development.With the upcoming rise of the Internet of Things, especially in the Asia Pacific, we expect to see more adoption of IoT solutions in the green building process. Learn more about Eurocham’s Real Estate and Construction Committee (RECC) now!Learn more about the real estate and construction industries in our comprehensive Cambodia investor guides!

Sarah Nicholson seeks to explain emerging markets, once and for all, in her “Overseas Property: The increasing popularity of emerging markets explained” presentation, thanks to PropertyGuru Singapore.Nicholson is the international project marketing director for CBRE Asia Pacific. Nicholson qualifies that in 2015 – according to CBRE’s independent studies – emerging markets form 80% of the global population and 20% of the world’s economy and deeply affect how investors make decisions in 2016. What are emerging markets? Emerging markets are countries that have low to middle per capita income and are in a transitional state. This transitional state means they are moving to an open market through economic and exchange rate reforms that encourage both local and foreign investments, contributing to the overall growth of the country’s economy. Why are emerging markets so popular? There are quite a few reasons why this type of market can be attractive to foreign and local investors, whether they’re looking for a long term or short-term investment project. According to Nicholson, emerging markets offer affordable opportunities for individuals and businesses to get a good investment return rate. She also states that economic and exchange rate reform programs help instill a sense of confidence in investors.She says that it’s “going to just lead to a much stronger and more responsible economic performance levels. And it becomes a much more transparent and efficient economy” as these type of changes occur. To add to its charm, emerging markets also offer strong domestic and export-led growth. This means that there will be more opportunities for construction, employment, and business which may or may not be limited to real estate.Cambodia as an emerging market: Although Cambodia is experiencing a delay in the release of an accurate house price index, Nicholson assures that Cambodia is well on its way to becoming one of the most established markets in the South East Asian region. She adds that among the top three highest marketed locations in emerging markets are Malaysia, Thailand and Cambodia. This is according to the CBRE research for “Singapore Exhibitions for Emerging Market Residential Development” with data gathered from 2012 to 2015 H1.Nicholson supports this by saying that among their dealings with Singaporean developers “Cambodia has gone from marketing nothing to 9 so far.” She also states that Phnom Penh land prices increased by 15 percent in 2013 and that “it feels like it’s just sort of at the beginning of that growth period which is really at the stage you want to be considering investing into these markets.” House loans are also increasing, which means that there is a lot more money circulating in the economy and that there are a lot more people now who can afford buying properties. Most of these loans come from local investors or individuals.This is important for foreign investors because it helps them with their exit strategy because when it comes high time to sell, as you are able to sell to locals. So – according to Nicholson – if there are no local buyers, then that’s a red flag for a project. Despite this though, Cambodia does have a bit more work to do in terms of its interest rates and its predominantly poor population.Reminders when investing in emerging markets: In addition to discussing the advantages and disadvantages of buying into emerging markets in different countries around Asia, Nicholson also discussed a few things that might be helpful for different kinds of investors. She states that emerging markets present a bigger risk so this might only appeal to people who are looking to diversify their investment portfolios.Although first-time investors will also find great opportunities in these countries, Nicholson warns them to keep careful watch of how their investments are handled. In these cases, make sure to buy from a developer with a strong track record and a high success rate so that you’re sure to reach your investment’s potential.Nicholson also advises to monitor supply and demand as these are also strong indicators for which direction prices will go for preceding years. Data from emerging markets may be scarce and difficult to obtain, but once you gather enough insight and proceed with the proper mindset and expectations, investing in these types of markets may offer you more than you’d expect when it’s time to cash out.It’s essential to remember though that policies are still being developed in these countries and may require a bit of patience.Stay tuned and get more updates from Realestate.com.kh!

Cambodia, despite a turbulent modern history, is now respected as one of the most dynamic emerging markets in Southeast Asia. Along with this improvement in its economic stability, many expats who have families and children are also moving into properties in the country.Fortunately for them, the heightened sense of economic importance has also paved the way for the education sector to restructure and enforce new standards of quality. According to the World Bank’s census, the rate for net admission for primary school rose from 81 percent to 95.3 percent in 2014 in Cambodia. But higher education and universities in Cambodia aren’t so far behind in growth either, having thousands of people graduating each year from over 162 institutions.However, expatriates – just like in any other country – should still be careful to consider different factors before enrolling their children in any school. So, here are a few things you might want to consider first before choosing which place to send your kids.Location: There are plenty of international schools in Cambodia, but international schools in Cambodia are more focused on the Phnom Penh area because this is where a large concentration of expatriates are located. But there are also a couple of international schools in other parts of the country that you can take a look at if you’re establishing your temporary home outside the capital, such as the International School of Siem Reap and the Ecole Française de Sihanoukville. It’s important to choose the right school with an accessible location so that children will find it convenient to come to and from your home, given that Phnom Penh can experiences some serious congestion around peak travel times. It also helps in terms of attending school gatherings where parents are required to go.Future-proofing: It’s important to note that public schooling in Cambodia is not something that’s offered to expat students. This is why you’ll see most of expat children going to international schools. But before choosing International schools in Cambodia, you may have to carefully plan out the next few months or years of your life first. It would be helpful to know whether or not you’ll be staying for long and where you’ll be moving to in the near future, because different schools will offer varying curriculums. Some of them might not be accepted in other countries you plan on calling your next home. So, if your family is thinking of moving to Canada or a place with a similar educational system, the Canadian International School has adopted the Canadian K-9 Curriculum in English which is approved and regulated by the province of Alberta to make sure that the school maintains the quality that is consistent to the education given in Canada. Northbridge International School, iCAN British International School and the International School of Phnom Penh (ISPP) are some other Phnom Penh institutions that import international standards of teaching and offer universally accredited qualifications. By ensuring that your child undergoes a curriculum that is compatible with the next country you’ll be travelling to, you’ll make transitions much easier and you’ll also avoid getting into complications such as repeating grade levels. This is also applicable for expatriate secondary students who are thinking of attending universities around the world.Qualifications and Credentials: Some institutions will claim international status but will not have the resources and facilities to prove it. So, taking your time and asking officials from schools should be a vital part in your decision-making process. This way, you can see the facilities and safety standards and also interview them about the experience and background of their teachers. Because international schools in Cambodia are mostly home to children of different cultures, one thing you can look for is a school that has teachers with the necessary experience to lead a multicultural class. On top of checking the school’s physical infrastructure, do a bit of online research and see if the school’s been accredited by any international regulating bodies. An example would be the Northbridge International School which has the Western Association of Schools and Colleges international accreditation.Skills Training: The iCAN British International School is one of the more popular international schools in Cambodia as well because it offers something that’s also essential for children’s growth. More than the academic aspect, they also focus on integrating skills development through their Early Years and Foundation Stage program where students are able to enhance their skills inside and outside their classrooms. Expatriates will find this as an attractive quality because it offers their children something to do while they’re in another country. At this point, they not only develop skills but also friends that will have the same interests as them. Cost: Cost is a vague topic with international schools in Cambodia as tuition fees for different institutions differ widely. Application fees, enrollment fees and capital fees may also vary. These can be attributed to many factors such as facilities, curriculum, miscellaneous charges, quality of education and the competence of its staff. There are schools out there such as Footprints International School which offers great quality but inexpensive schooling for expatriate students up until the 10th grade but may have a different curriculum than what your children may need. So, while institutions that charge more may give you the best education and curriculum, it is important to note that there are inexpensive alternatives that you can consider as well. However, for universally accredited schools you can expect yearly tuition fees anywhere from $5000 per year, up to $30,000.Requirements and Inclusions: In terms of cost, it’s also important to check out what you get in return for the tuition you pay. Some schools offer just the facilities but not resources like textbooks, while others may offer resources but not facilities such as a computer laboratory. A good example would be the International School of Phnom Penh (ISPP) which has a “Bring Your Own MacBook” policy which requires students in the 6th to 11th grade to have their own MacBook. Since “ISPP is a non-profit parent-owned association and relies almost completely on fee income to assure sufficient resources for the school's operation,” there are certain expenses that parents would have to shoulder. These are just a few basic things you need to look at during your decision-making process, but there are other things you can add to the mix to help you narrow the list down even further. Take your time, and make sure you choose the best school for your children’s needs.Learn more about living in Phnom Penh trhough Realestate.com.kh now!

Recently, Century 21 Cambodia released it’s Condominium Market Report H1 2016 in Phnom Penh at the Raffles Le Royal Hotel.The release was well attended by various partners, investors, and Century 21 agency managers from across the nation. In the speech of Mr. Kuy Vat, Chairman of Century 21 Cambodia, he mentioned his appreciation of Realestate.com.kh and offered thanks for Realestate.com.kh’s cooperation with Century 21 Cambodia, and the development of the real estate sector in Cambodia generally.“It is with pleasure that Century 21 Cambodia work closely with Realestate.com.kh,” said Vat. He added that, “I think that Realestate.com.kh has become a renowned company in Cambodia. As this company has grown, they have played a very important role in the development of Cambodia, especially within the property market realm.”He also mentioned that in order to have the Cambodian property market continuing its strong growth, stakeholders in the market should partner to develop the industry together for the good of all, whether they are developers, constructors, real estate agencies or media companies. “For instance, Realestate.com.kh is an online marketing company which works to advertise property inside Cambodia on behalf of agents and developers. But, Realestate.com.kh also has a very comprehensive marketing reach outside of Cambodia,” said Vat.“Innovation like this will significantly help our country in promoting our real estate market to foreign investors,” says Vat.Century 21 Cambodia is the exclusive holder of the Century 21 Trademark & Systems in Cambodia and oversees all Century 21 franchise offices across the Kingdom. Realestate.com.kh is the official property portal partner of Century 21 Cambodia, and has actively cooperated and supported Century 21 Cambodia in bringing the Cambodian real estate sector to a wider international market. By doing so, Realestate.com.kh has increased the exposure of Cambodian property to investors across Cambodia and the world. And nowadays, Century 21 Cambodia is working and very hard to develop international networks of investors and agencies in order to take the Cambodian property market to the center of the world stage.Century 21 Global is present in over 78 countries worldwide, and Century 21 Cambodia are currently leveraging these connections to bring new investment opportunities and new investors to the Cambodian market. Vat believes that with strong connections between all stakeholders in the real estate sector, together we can support the long term development of this market.He also believes that development companies with long-term interests in Cambodia will only survive when they work with strong and innovative real estate agencies. “Success may not happen overnight, but if we partner with the right companies it is a matter of time before our real estate industry is very successful,” concluded Vat. Check out more videos about the Century 21 Condo Report from Mr Chrek Soknim, CEO of Century 21 Mekong and Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia.

Realestate.com.kh caught up with Mr George Kachmazov, founder and managing partner of Tranio.com, an online overseas property start-up. Kachmazov is a respected real estate and investment expert, as well as a keynote speaker at many national and international property conferences, and regularly contributes to print and online media with insight on real estate trends and advice for first-time investors. We know there is a large population of Russians in Cambodia. Are Russian's interested in the Cambodian property market now? If not yet, what might be attractive about Cambodia for property investment for Russian buyers? It’s true that there are many Russians who spend winter seasons in Southern Asian countries, including Cambodia, Thailand and Vietnam. Many of them rent out their Russian apartments and rent homes in Asia. We have had enquiries for apartments and townhouses in Sihanoukville in 2013–2014, but demand on Cambodian real estate is very low compared to other countries.There are several things that might be attractive about Cambodian property: low taxes, low prices, relaxed lifestyle, friendly people, new experiences. There are Russians who see drawbacks, though: lower market transparency (compared to Europe) and Cambodian property ownership restrictions for foreigners (they are not allowed to own land).What other ASEAN regional countries are attracting attention from Russians? We see interest in Thailand and Vietnam. In the whole, ASEAN countries are more popular among far-eastern residents of Russia because of the distances. For example, our research shows that people from the Vladivostok region (east of Russia) are three times more interested in Thai property than Muscovites who prefer to buy property and spend holidays mainly in Europe because it’s closer. How can a Cambodian property seller make their property more attractive to potential Russian buyers? what features are they particularly interested in? what terms of sale etc?Be trustworthy and convincing. Russians are often skeptical and ask for substantial facts and proofs. They tend to be in doubt: “Why should I work with this seller? Should I purchase this property or wait until I find something better?” This often results in prolonged or delayed transactions. Also a Cambodian property seller needs to be open and transparent, because Russians are afraid of scams. If you sell residential property for buyer’s own use, sell lifestyle and emphasise aspirational features of a property and location. Unlike many Westerners, Russian buyers tend to buy more on emotion and less on price. As for features, Russian lifestyle buyers prefer houses and apartments in a close proximity to beaches, and sea view may be demanded. Do support and advice at all stages.   What are the most popular locations for Russian investing overseas?Judging by the number of enquiries on Tranio.com in Q1 2016, the most popular countries are Spain, Germany, Italy, Montenegro, Czech Republic, Finland, Austria, Hungary, France and Slovenia. Spain has maintained absolute leadership during the last several years, and buyers stay attracted by relatively cheap property (prices dropped by 40% in seven years), sea and warm climate. Germany, strongly placed as number two, is preferred by those of our clients who want to invest in rental real estate, diversify investment and protect capital from Russian risks. What type of properties are they Russians usually seeking abroad? A big proportion of clients buy apartments by the sea for their own use – either to spend holidays overseas or to move permanently. This kind of buyers are active in Spain, Italy, Montenegro, France and Turkey. Since 2014, we are working closely with clients who want to invest in real estate rather than spend money on holiday villas and flats. This kind of buyers tend to purchase residential property to rent it out (according to our research conducted in 2015, 63% of respondents in commercial property market choose rental apartments). Mini-hotels are also popular (21% of respondents), as well as rental blocks of flats (16%).What are some facts and figures on total outward investment in property by Russians?Investment into overseas property was gaining in popularity since early 2000s. 2012–2013 showed a considerable increase in the number of Russian-speaking clients. In many countries, including Spain, Bulgaria, Latvia, Turkey and Montenegro, Russians took leading positions in the residential property market. But after 2014, when the ruble had plummeted, investment volumes decreased dramatically. In 2012–2013 Russians invested in property overseas more than 400 thousand dollars every three months, and in 2014–2015 about half as much. According to the Russian Central Bank the volume of transfers was down 30% year-on-year, checking in at just 199 million dollars, compared to 281 million dollars in Q1 2015 and 484 million in Q1 2014.Not only is the investment volume is shrinking, but so are buyer budgets. On the other hand, we have noticed a growing demand on investment property, particularly in terms of income-generating buy-to-let residential and commercial premises. Also our clients become more and more interested in development projects.What are the key motivating factors for outward real estate investment for Russian buyers?Five-six years ago, Russians were motivated by a “superplus” of money, they had enough liquidity to invest into seaside resort villas and enjoy European lifestyle. Between early 2014 and May 2016, the US dollar rose against the Russian ruble by over 80%. So, property overseas became much more expensive for people who earn income in rubles. The main motivations for Russian buyers now are extremely low mortgage rates in Europe and opportunities to invest money into safe, low-risk markets. Why is online marketing so important for international property buyers?According to National Association of Realtors of the US, three quarters of buyers start searching for property by looking at Internet listings. Word of mouth simply isn’t enough, every real estate company has a website, and it’s essential to promote it and raise its visibility in search engines so that potential buyers would be able to find it among thousands of other sites. Since 2014, we’re promoting the English version of our website, Tranio.com. Today at least 5% of our audience are clients from Europe, Asia, America and the Middle East, and their share is constantly growing.Tell us more about Tranio: Tranio is an international real estate broker. We help our clients buy and rent property directly from foreign agencies and developers without extra charges and unnecessary intermediaries. We are not just a real estate website because we provide support and advice at all stages of selecting and buying a property, and we are not a traditional real estate agency either, because we have about 500 partners all around the world, and we do not favour any particular agency or developer at the expense of the others. Also we publish news and reports on property overseas and give an expert advice. In 2013–2016, we closed 500 deals. How long has Tranio been around? What inspired it? We’ve been on the market for six years. After my family had bought a second home in Croatia in 2010, I had an idea to create a real estate business. I saw potential in this segment, as there were many clients, a lot of interesting products, and low competition in Russia compared to the vast market capacity. We started to design and develop the website in 2010, and launched the full working version in March 2011. At first, we planned to monetize the website the same way most real estate sites do — by selling advertising and paid listings. But very soon we disliked the idea because abundant advertising always makes a website less user-friendly and lowers its quality. In 2012, we changed the mode of monetization and became a mix of Internet portal and real estate agency. We were selling second homes by the sea and helping people spend their money on lifestyle. In 2014, we launched the English version of our website, started working with international clients and sell buy-to-let commercial property. The change in business strategy helped us not only survive the crisis but also rise sales volumes despite decreasing demand on real estate overseas. As the crisis hit the Russian market in 2014–2015, we changed our strategy once more. We saw investors rising their yield expectations as yields were falling gradually in every European country due to high demand and relatively low construction volumes. We understood that the only way to earn money in today’s market is to invest it into projects of added value, namely into redevelopment and renovation projects, and we started to offer them in 2016. Our next goal is to create our own redevelopment project. We are planning to find investors, purchase a multifamily building in Spain, renovate it, create micro-apartments and sell them to end users who will either use units themselves or rent them out. At the same time, we will go on expanding the share of international property buyers in order to protect our business from Russian risks. Some other articles George has recently contributed to: Five reasons why guaranteed high yields don’t exist ; Russian crisis breeds a mature generation of property investors ; How property plays a role in balanced pension investments ; Buy-to-let investments in Germany are a boon for small budgets ; Risks: macro and micro pitfalls in property investment strategies ; Overseas Investors: Tricks To Financing Your Property Investment In Europe

CBRE Cambodia’s recently released report outlines the details of the changes that Phnom Penh experienced throughout the 1st quarter of 2016. The report includes data and analysis gathered from the increasing activity in the land, condominium, office, retail, and serviced apartment markets.Phnom Penh Land Q1 2016Despite a bleak outlook on land prices which is expected to decrease by the end of the year, the land price index has shown a significant increase during the first part of the year all throughout principal districts. Land prices have gone up by an average of 4.8 percent during this time as well. The report also notes that prices in areas like the 7 Makara and the Chroy Changvar districts saw a quarter on quarter increase of up to around 8.3 percent to 8.8 percent. This may or may not be a good thing, depending on which part of the transaction you’re on. This is good for current investors who saw a high return of investment. But this may be an opportunity for future investors to shift their focus to the outskirts of the capital city.Phnom Penh Condominium Q1 2016According to the report, there were 8 projects that were announced at the beginning of this year which ushered in a total of 4,158 additional condo units. This is a staggering 61.6 percent year on year increase. As a result, the average sales prices for condo units across all unit types went up by 4.1 percent.Off-plan prices for high-end units, on the other hand, grew a steady 5.7 percent where Chamkarmon took the lead and contributed 2,900 units or 70 percent of the off-plan condominium sales.Based on the figures as well, a number of newer high-end and middle class condominium unit supply will be from international developers, where China and Taiwan are the frontrunners.Phnom Penh Office Q1 2016While the condominium market saw much of an improvement this past 1st quarter, the office market hit quite a few roadblocks. This caused occupancy rates to diminish by 1.5 percent, despite the construction of 3 new office buildings with a leasable space of 17,260 sqm.But it wasn’t all bad as both Grade B and Grade C office rents rose up to 1.3 percent and 2.6 percent, respectively. In addition to this, the quoted rental prices for Grade A office properties remained stable at $28 per square meter.Taking all these into consideration, as it stands now, the total officespace occupancy rate in Phnom Penh is at  74.4 percent.It’s not all doom and gloom for the office market though as 5 office projects will be available for investors in the near future through the use of strata titles or long-term leases.Construction for these projects started during the early months of 2016 wherein each development had launched off-plan sales during 2015.They’re expected to contribute a net space that’s estimated around 84,000 sqm by 2019. The average asking price stands at an average of $3,475 per square meter where Grade B spaces will take a projected 64 percent of the future office space supply.Phnom Penh Retail Q1 2016While there were a series of activities that showed activity in different real estate markets, retail showed little to none.It remained relatively stable during the 1st quarter but is expected to change in the months to come. One important event to note though is that the Sorya Shopping Center announced a renovation and rebranding project that will relaunch it as the “Sorya Center Point”.Starting off a bit slow this year, the retail supply in Phnom Penh is expected to pick up and grow significantly before 2018 ends. This will be the effect of “a combination of new international shopping complexes and significant retail components within predominantly residential and mixed-used schemes.”One of these is the Parkson Phnom Penh City Center which is set to launch any time during the 4th quarter of 2016.The Parkson Phnom Penh. City Center will have 57,000 sqm of leasable space, alongside Hong Kong Land’s Exchange Square which will have a total of 8,000 sqm of leasable retail space before the 2st quarter of 2017 end.Rents, on the other hand, remained consistent all throughout the 1st quarter, except with rents from purpose built retail malls. This saw a fall amounting to 1.6 percent. Unlike the retail supply, this trend is set to continue as requirement reviews are being done by retailers in terms of pending developments that are set to be delivered within the next 12 months.This will most likely be affected by international brands seeking prime retail locations for different uses. Among the top uses is the Financial and Professional Services which occupies around 9.2 percent of prime mall space and 33.2 percent of prime high-street. Food and beverage doesn’t fall behind which accounts for 14.2 percent of high-street retail spaces and 25 percent of retail malls.The report states that “2016 is set to welcome a wave of new international brands, with active requirements for both prime shopping mall and high-street locations driven principally by Food and Beverage/ Fashion and Accessories retailers.”Phnom Penh Serviced Apartment Q1 2016In contrast to the other markets, it seems as though service apartments had been luckier with an increase in supply that spurred by around 5.6 percent in the first quarter alone.According to the report, a huge factor for this is because of the Grade C serviced apartments coming up to 4,645 units with a recent addition of 246 similar projects. This may be the reason why it is the most prominent Grade type in Cambodia, making up a rough estimate of 71.6 percent of all units, in contrast to Grade A and B serviced apartments that only account for 19.9 percent and 8.5 percent of the units, respectively.This is probably why prime serviced apartment rents remained stable during the 1st quarter where rental rates ranged from $500 per month for a one-bedroom Grade B apartment to $8,000 per month for one of the higher end penthouse units. This is not far from prices during previous months and quarters.This stability also contributes 85.6 percent of the occupancy rate where the majority of the capital’s current serviced apartment supply is located.The report aims to provide insight for investors and developers in order to gauge whether or not to proceed with their potential or ongoing transactions. In the end, it is important to look at this data to form informed decisions and make calculated risks.Check out all listings from CBRE

Sukhalay Hotel on Achar Mean Avenue (now Monivong Boulevard)Amazing Cambodia gather vintage photos of historic buildings across Cambodia and feats of construction that have marked the Kingdom's architectural evolution. The mission of Amazing Cambodia is collecting Cambodian historical images, music,films and other things of cultural importance, and sharing them to everyone domestically and internationally. The purpose in guiding people, especially the young generation, to see and to know how amazing their country was in the past as well as to be proud of being a Cambodian citizen. It is also assisting local people to recall momentous memories about past events, raising foreigners' awareness about Cambodian culture and history and promoting Cambodia's reputation and popularity nationally and internationally. The founder of Amazing Cambodia, Mr. Srin Sokmean, spoke with Realestate.com.kh about his life and his inspiration for Amazing Cambodia.Tell us about your career so far:I have been working as a reporter and editor for a local magazine since I was a senior at IFL. Now I am also working as an English language full-time teacher for a private school in Phnom Penh. On the other hand, I have been an organizer of some cultural events including Amazing Cambodia Photo Exhibition 2013 and the Night of Hope charity concert 2015.What inspired you to start your photo archives?Inspired by my lifelong great passion of local culture and arts, I have been investing most of my free time in doing constant researches on Cambodian past music, films as well as architecture. The 1960s, known as the golden age of Cambodian culture, is my most favorite topic. As I had collected a large number of vintage images, I decided to create a Facebook page named Amazing Cambodia with the initial technical assistance of one of my Facebook friends. The three biggest purposes of the page are to raise Cambodian young generation’s awareness of the country’s glorious past, to review the past memories for the surviving local oldsters, especially those who have been away from the homeland for decades, and last but not least is to promote Khmer culture and history to the world.What your inspiration do this job?Everything is because I do love it from the bottom of my heart - though, I have to sacrifice a lot of money and time. Even without much support, I never give up since I have learned a lot during the process of the research. For example, I know how to improve communication skills with people in that field.My personal inspiring quote is “Don’t give up just because you walk in the right way alone - Appreciate your incomparable talent.”What is your view on Cambodia architecture these days?