Realestate.com.kh would like to present another of our featured agencies – Furi Real Estate Co., Ltd.Furi Real Estate is the largest pure condo agency in Cambodia, in regards to agencies, agents and overall sales. In late 2012, Furi Real Estate founded a trade mark limited company under the new brand name: FURI Real Estate Co., Ltd. Furi Real Estate attributes 98 per cent of their condo sales over the last three years to Khmer buyers, according to CEO Ly Senleap. Furi Real Estate encourages locals to sell land, pool their savings and buy sets of condo units as live-in investments. By buying several units or a floor at one time, these buyers can save on market prices. Furi Real Estate currently has an exclusive listing over “The Bay,” an already-renowned condo complex being built on Chroy Changvar by the Singaporean-based TEHO-SBG Development Co., Ltd. Check out The Bay, from Furi, today on Realestate.com.kh today!"Our vision is clear," says Senleap: "To create a state of the art experience in buying and selling real estate, in Cambodia and Southeast Asia. We pride ourselves in understanding clients needs by building trust and developing lifetime relationships." Furi Real Estate seeks to provide excellence in investment services. Services always push to ensure outstanding and accountable services with integrity to customers, honesty in commitments, transparency with no hidden costs, building relationships and, ultimately, achieving great results. Invest with the best! See another superb development from Furi - The Diamond Twin Tower! Furi Real Estate is unique organization built around understanding their clients’ true need of investment. Whether it is location, size, or price - Furi will have the right fit for your needs through our property network across Cambodia, Singapore, Indonesia, and Hong Kong. Furi's real estate, product design, development, sales strategy management, and networking services are customized to meet each client’s unique needs. Check out two exciting listings from Furi Real Estate on Realestate.com.kh today:The Bay and Diamond Twin Tower.

Grammy award winner Bruno Mars sells up! He has sold his Hollywood Regency-style contemporary home for $3,347,500 in an off-market deal.Fronting a 10-vehicle engine court, the 1964 home has an exterior with stone segments flanking 11-foot-tall iridescent glass entryways. The walled and gated house highlights a single-story open floor setting. Retractable walled glass bring in mountain and cityscape views.The house contains family and living rooms, three bedrooms, three bathrooms and a powder room in 4,074 square feet of living space. The main lavatory highlights brilliant warmth flooring, a sauna, a two-man steam shower, gym and massage area, as indicated by points of interest from 2012, when Mars purchased the property for $3.254 million.There's a three-car garage and swimming pool at the back of the house.Not long ago, Mars purchased an estate in Studio City for $6.5 million. The 9,033-square-foot Mediterranean-style house, built in 2000, sits on two sections of land with a secured lounge, an infinity swimming pool with a spa and a kids' play area.He sold his place in Hawaii also.Bruno Mars is a Grammy award winner for best pop vocal album, Billboard's musician of the year in 2014. And now He is working on his third album. Where will he live next??

Don't miss Realestate.com.kh on BTV Cambodia Real Estate and News Talk Show.Mr. Siv Meng, presenter at BTV Cambodia Real Estate and News Talk Show, talked with Realestate.com.kh director, Mr Tom O’Sullivan, about his inspirations for starting Realestate.com.kh, and his forecasts for the Cambodian real estate market. How long have you been in Cambodia?I have been in Cambodia now for 3 years. First I lived in Battambang and needed to find a place to stay. I remember finding it very difficult to find an apartment to rent online, and it was clear to me that there was an opportunity to create a real estate portal. Cambodia needed a website where you can find all property listings for sale and rent across Cambodia in one place, and you can contact any number of real estate agents from the same website. I was tired of looking on individual agency websites, where information was not clear or up to date. A real estate portal brings home buyers and renters convenience! When you look for properties online first, you don’t need to travel around town looking at properties that may or may not fit your criteria. Our company originally planned to launch the website alone, but then we met Bong Chenda Moek, the founder of Realestate.com.kh. He started the website in 2009 and was already doing great job with the website, and creating a lot of sales inquiries - but ultimately he was under resourced. We had technological skills to help him, and access to resources - and he had local knowledge that we desperately needed. We want Realestate.com.kh to suit Cambodians, and this is always been our goal. Understand what the market wants and needs, and bring that to our customers! How does the Cambodian market compare to other ASEAN markets?Regionally, Cambodia is on the front foot for foreign ownership laws and creating attractive conditions for FDI. Regional neighbours such as Vietnam and Thailand are much slower to accept foreign influence, and this means Cambodia remains ahead of the pack in terms of  FDI. This is helping Cambodia catch up to these larger markets. Is there an oversupply of condos, approaching 2017-2018?I understand this is becoming the hot question for the Cambodian real estate market, as is worrying some investors and developers.But condos still appear to be selling, and meanwhile the market of potential buyers, both foreign and international, is expanding quickly. There is nothing to say that demand won’t continue to grow, even if supply exceeds expectations in the short term. Of course, it is no secret that chinese investment in coming thick and fast to Cambodia, and this trend seems set to continue. Having spoken to many property developers recently, and learning from their observations - it is clear that the increase in Chinese property investment in condos continues to be a growing force. As the Chinese market sees fluctuations, Cambodia is increasingly becoming an investor’s haven, buoyed by the USD.Furthermore, with increasing congestion in the city of Phnom Penh, it seems likely that we will see an increase in condo buying from the younger generation of Khmers over the longer term. Lifestyles are changing and this will influence demand in the future. Want to see more great real estate news interviews? Check out the Realestate.com.kh youtube channel and subscribe today!

// Saudi Arabia is building the world’s tallest building – nearly twice the height of One World Trade Center. Posted by Business Insider Video on Wednesday, December 2, 2015   Maybe one day Diamond Island will compete??     Want to see one of the world's fastest buildings? Check it out on Realestate.com.kh today.

Abandoned for two years, Gold Tower 42 yet again promised that construction would resume on the long dormant project. This time, however, construction will begin in February 2016 and will be completed by 2018. Similar claims were made earlier this year, when the company promised it would resume construction in March of 2015, with a completion date of 2018.According to the Ministry of Urban Planning and Construction, Choi Jong Hae, CEO and Chairman of Yonwoo Cambodia Co, Ltd, who owns Gold Tower 42, requested permission to continue construction by sending a letter. Lao Tip Seitha, Deputy Director General of the General Department of Construction at the Ministry of Land Management, Urban Planning and Construction, confirmed that the ministry had received the letter. Seng Bunna, CEO of Bunna Realty Group, said that if the project actually begins, yet again, it would be a good sign that the Koreans have faith in the Cambodian market. However, he said that he was unsure if the owner of the property was truly committed to the project. But, from a construction materials point of view, now would be the logical time to resume construction because the materials, primarily all imported, have declined in value alongside the drop in regional currencies as the US dollar has remained strong, he said. “Now would be a good time to build, but to attempt to sell, now is not the time,” he said, hinting at the lack of faith investors have in the project. Siv Meng, Phnom Penh Post, Post Property.

Over 20 CVEA Executive Committee and Members holding valuation certificates came together on the 2nd December 2015 (Wednesday this week) to discuss average Phnom Penh Land Prices for the First Quarter of 2016. The group discussed average Phnom Penh land prices across all Sangkats of the 4 major Khans of Phnom Penh, namely Chamkarmon, Daun Penh, 7 Makara and Toul Kork. https://www.youtube.com/watch?v=nxURKtpxfxU&feature;=youtu.be The meeting considered the growth of Phnom Penh land prices as according to their proceeding 2015 report, with all members voting on reasonable increases on these statistics for the Q1 2016 report. The follow up from this meeting will include a consultation with Bank and Micro Finance Associations in order to ensure the land price survey includes all relevant stakeholders. The final Phnom Penh land price survey will be released later this month once final agreement is met. Stay tuned to Realestate.com.kh/news for the CVEA Phnom Penh Land Prices Survey's release later this month.

Cambodia Constructor's Association (CCA) will hold the 4th Annual Cambodia Construction Summit & Expo 2015 starting from tomorrow: 3-5 December 2015 at Diamond Island Expo Center. Check out exhibitions from the countries' leading construction developers, constructors and designers, construction material companies and real estate agencies. Get special deals on all types of products and meet new contacts business opportunities. See you there!

A number of nations in Southeast Asia are relaxing property ownership laws in bid to increase FDI. As rules are eased, companies such as property developers, banks and providers of property-related services, like construction, maintenance, insurance and security, naturally flow into the economy and boost it from within. However, industry experts suggest that foreign investors in the region may need more than just attractive ownership provisions to lure them into new markets.Amid the Cambodia, Myanmar and Vietnam bloc, foreigners are subject to a variety of ownership limits. However, in all these markets, lately things have begun to change. Myanmar's constitution establishes the state as the ultimate owner of all land. Yet, under the new Myanmar Foreign Investment Law, an investor may lease land for up to 50 years, with two 10 year extensions. A Condominium Law that is currently in development in Myanmar but not yet in force, likely inspired by the Singaporean example, a local long-time-investor in Myanmar, would allow a foreigner to purchase a condominium on the sixth floor or above of a co-owned building (as in Singapore), up to a quota of 40 percent foreign ownership of the total units in the property.In Vietnam, freehold ownership by foreigners over land is prohibited by the constitution. Yet state authorized leases between 50 and 70 years are widely available, especially for development projects, and renewable at the discretion of officials. Further, pursuant to the Vietnamese Law of Housing 2014, a foreigner may now own a unit in an apartment or condominium building - if it is a no-more-than 30 percent foreign owned building. Cambodia, unlike its three neighboring counterparts, has a freehold land ownership system for its citizens. Foreigners based in Cambodia are also allowed rights of ownership over certain properties, subject to 2010 Law on the Provision of Ownership Rights. These rights, however, are restricted to buildings that have obtained a "strata title", which is available only to newly completed apartment buildings. Foreigners cannot acquire a ground-floor unit legally, and any foreign ownership allocation is limited to a maximum of 70 percent of the units in any one co-owned building. Nevertheless, a foreigner lease term over landed properties can still be up to a 50 year maximum, with a 50 year renewal option included.In Indonesia, Southeast Asia’s largest economy, foreign nationals are not allowed to buy property under current laws. However, recent statements from the government slate loosening restrictions, with changes finalized by the end of the year. These new laws are expected to allow foreigners to buy apartments priced above 5 billion rupiah (US$375,000), although they will still not be able to buy landed property.However, industry experts believe FDI growth is not reliant solely on foreign property ownership allowances. Ross Wheble, country manager for Knight Frank Cambodia, notes that, “when referring to FDI, it’s more related to multinational companies investing in manufacturing, agriculture, infrastructure, the financial sector and commerce in general. Many of these companies do not want to own freehold property;  if a company can secure a long term lease of 20 to 30 years and above, they are generally able to source financing from banking institutions and also payback on their initial investment.” For this reason, Wheble suggests that “small alterations to foreign ownership laws on real estate in neighbouring countries won’t have significant impact on FDI flows into Cambodia. There are more pertinent factors that affect FDI such as political stability, skilled labour force, infrastructure, ease of doing business, anti-corruption policies etc. “Matthew Rendall, senior partner at Zicolaw, agrees, “the laws themselves will not be such a decisive factor for foreigners in deciding where to invest, but rather the market conditions and the implementation of those laws on the ground.  Whereas ownership is usually a secure form of tenure, a test often comes in the legal security offered by leasehold.”For these reasons, Rendall is pleased to see leasehold regulation developing in Cambodia: “It is very important that each country ensures that its lease agreements receive the full protection of the law and that possession acquired through leases receives the same protection as ownership offers.”Rami Sharaf, CEO of World Bridge International (WBI) agrees that Cambodia offers investors a package of benefits, which makes freehold ownership just one incentive among many: “In Cambodia, there is very little discrimination between foreigners and locals in regards to company registration, taxes and customs duties. Meanwhile, the country is geographically central, with a young and motivated labour pool, and, of course, buoyed by the US dollar. Furthermore, Cambodian based manufacturers still enjoy tax-free export to Europe because Cambodia is still classed as a less developed country (LDC).”

Prince Central Plaza represents a new age of living for one of Cambodia’s most exciting and desirable districts: Tonle Bassac. “Local people are starting to have a concern about good location and land - demand for premium land is very high right now,” says a spokesperson of Prince Central Plaza - and this is why Tonle Bassac was the obvious choice. Located on the exclusive Norodom Boulevard, the landmark development is just minutes to Independence Monument, Aeon Shopping Mall and various embassies. The building will have 37 floors in total, with the bottom three dedicated to the retail plaza and restaurants. Inspired by classical art deco lines and style, Prince Central Plaza will fast become an architectural icon of the neighborhood. The unique design is the product of American DF International Building Design Co., Ltd., a company that has already completed around 300 engineering design projects, spanning more than 20 million square meters. The Mansion House – the premium residence within the Prince Central Plaza project – offers a range of 1 to 3 bedroom condominiums, studio and SOHO units, all beautifully furnished with elegance and class, stunning balcony views of the city skyline, and finished with the latest amenities for modern living.The units will all have services provide by the 24 hour concierge staff, including International platinum housekeeper services.The Interior design of all Prince Central Plaza units have been formulated with taste and art deco elegance, by Shenzhen Guangtian Design Group Co., Ltd., a listed Chinese company with a renown portfolio of real estate projects. Inquire today to visit the showroom!Landscape design is also a key element of Prince Central Plaza, with delicately crafted surrounds in both the communal and private gardens of the residential complex. These have been designed by TTR Design Co. Ltd., a company with a wealth of experience designing and implementing gardens for resorts, hotels and recreational facilities across China.The beautifully designed infinity pool gives residents a place to relax and unwind; an impressive, fully equipped gymnasium and a fitness room will help you and your family keep healthy; shopping at your doorstep is assured – with the plaza’s malls; and an international standard business center will guarantee a convenient lifestyle for modern business people. The construction of Prince Central Plaza has already begun, under the management of China Construction Co., Ltd., China’s largest and most renowned real estate and construction enterprise. This will be another benchmark project for a company with many already in its portfolio. Prince Central Plaza is set to be completed by 2018.Check out the new development or Prince Central Plaza listing today on Realestate.com.kh!Find out property for rent in Phnom Penh or property for sale in Phnom Penh!

Knight Frank Becomes the Latest Real Estate Company to be Approved as a Panel Valuer for the Securities and Exchange Commission of Cambodia: As part of the listing process, a company is required to have its real estate assets valued to determine its Net Asset Value (NAV). Established in 1896 and opening their Cambodian office in 2008, Knight Frank, which is the world’s largest privately owned real estate consultancy, has become the latest real estate company to be approved as a panel valuer for the Securities and Exchange Commission of Cambodia. With over 440 offices in 58 countries, all valuations undertaken by Knight Frank are carried out by professionally qualified valuers, and all valuation reports comply with the highest of standards set out by the International Valuation Standards Council (IVSC), giving investors total confidence in the value of a company’s real estate assets. Check out Knight Frank's listings on Realestate.com.kh here. The recent announcement that Hong Kong-based developer, Eastland Development (HK) Ltd, has expressed interest in listing on Cambodia’s stock exchange follows a number of similar announcements by companies that are also looking to list on the exchange, including the Phnom Penh Special Economic Zone (PPSEZ), TY Fashion and Sihanoukville Autonomous Port. Check out Eastland's property for sale here. If the companies indicated above list on the Cambodia Securities Exchange (CSX) as intended, real estate companies will represent one half of the listed companies (based on number of companies and not market capitalisation) on the CSX. Although activity on the CSX was initially slow, with the Phnom Penh Water Supply Authority listing in 2012 and Taiwanese-owned Grand Twins International (Cambodia) Plc listing mid-2014, the recent activity indicates growing confidence in the Cambodian economy and finance industry as a whole, which is a positive sign for Cambodia’s real estate and construction industry. The announcement by Eastland Development (HK) Ltd signifies their commitment to Cambodia over the long term and also their confidence in the Cambodian real estate sector. Furthermore, it also enables investors who may not be able to afford to buy a property a chance to participate in the growing real estate sector by indirectly investing through the purchase of shares within real estate companies.

Hong Kong-based developer Eastland Development (HK) Ltd has announced plans to list on Cambodia’s stock exchange within a year. Sam Yang, the company’s CEO, said during a recent company promotional event that Eastland is working with a local underwriter to prepare to float shares on the Cambodian Stock Exchange (CSX). “The application will be ready early next year and the company will have an initial public offering in September next year,” he said, adding that Eastland intends to be the first foreign-registered company to list on the CSX. Yang said that the purpose of listing was not just about raising funds for its projects, but also to raise the confidence of its investors and allow them to be part of a high-standard property firm. Read a related article: Knight Frank authorized to conduct IPO valuations.  Eastland Development (HK) Ltd is a branch of China’s Guangzhou Yuetai Group, a real estate developer with over $1.2 billion in assets. Eastland is focused on real estate development in Cambodia, and claims to have invested $60 million in three projects here: East One Apartments, East View Residence and East Commercial Center (ECC). Phnom Penh Securities, the underwriter for the IPO according to Yang, could not be reached for comment yesterday. Sou Socheat, director-general of the Securities and Exchange Commission of Cambodia (SECC), said he had not received any letter or official documents from the Eastland yet, though he welcomed its intention to join the stock market in Cambodia. He said some foreign-registered companies have submitted letters of interest to list on the CSX, though nothing is official yet. In addition, the SECC is also reviewing the applications of three local companies that intend to list within the next year, namely Phnom Penh Special Economic Zone (PPSEZ), TY Fashion and Sihanoukville Autonomous Port. Sor Chandara, Phnom Penh Post Want to invest with Eastland? Check out their properties for sale on Realestate.com.kh: East One Apartments, East View Residence and East Commercial Center (ECC).

There are lots of easy things you can change in order to make your home quieter, and fetch a higher market price. Sam, a local Phnom Penh real estate agent recounts: “I recently checked out a villa home for sale along the main road out of Phnom Penh, Road number 4. The main road there is very loud and dusty - as you may know. But, as soon as I walked in the large gate of this 4 bedroom villa for sale, I found that the owners had created a peaceful garden sanctuary behind the thick and tall street fence. Inside this secret garden wasn't loud or dusty - and it was hard to tell the main road was not far away. This owner had very-cleverly created a quiet home setting able to offset the property’s location shortcomings.”The trick is to stop street and/or neighborhood noise from entering the house. You can do this by adding: Botanical gardensWindow glazingWall insulationBlindsTall secure fences: a good landscape designer will use walls, fencing, plants, hedges and other noise cancelling techniques to bring down the noise levels of your home.Generally - using noise-reducing materials when building or renovating is the best way to start when trying to cut your home noise down.In the design stage consider having bedrooms and living areas away from the noisiest parts of the building. What is the value of a quieter home?For some, such as Brian, who lives on central Street 51, Phnom Penh - the noise is offset by his surroundings:"I'm a heavy sleeper, so I can handle the late night music outside my apartment window. For me, it is a welcome trade-off for being able to walk 5 meters outside my home and be immersed in the heart of Phnom Penh City - I personally love the smells, sounds and great food all at my doorstep! And no need to pay for transport."However, according to Realestate.com.kh data, most of the housing market does put a higher value on quiet homes. Having your home on a quiet street can increase its value by thousands of dollars, if you can find the right type of buyer. The value of peace and quiet is highly sought after by many property seekers, and this is known by valuation professionals. Homes on noisy main roads generally lose 10% of their value, as compared to homes in the same area on quiet side-streets.Want more articles similar to this? Check out Realestate.com.kh now!

Welcome to Realestate.com.kh’s Dream Home Report. Every week we will showcase some of Cambodia's most luxurious, interesting and unique properties from throughout our listings database. We want to show you the gems of the Cambodian property market. This week we want to survey some homes with a unique Khmer flavor.Located in growing tourist area of Kampot, Samon's Village, this tree house home is something you dream of when you are stuck in the hustle and bustle of Phnom Penh!Fancy a holiday home on a private island off the coast of Cambodia, Song Saa!Known as Khor Sang, located in Wat Kor Vollage, Battambang, the traditional khmer home has been passed down through 4 generations, and now restored to its former glory. And is a must see for tourists visiting Battambang.This locally designed 6 bedroom guesthouse in Siem Reap captures Cambodian culture perfectly, and its unique location inside a pagoda adds to the guests experience!A list of amazing houses in Cambodia wouldn’t be complete without mention of Vann Molyvann’s stunning architecture - and his signature roof design on this home.Check out another Dream Home report here.

After the success of the “East One International Apartments” project – a condo development which is already 70% sold and now under construction in Duan Penh, Eastland Development Co. Ltd. have announced the launch of sales for “East Commercial Center (ECC)” along Norodom Boulevard, near the Malaysian Embassy. The number one real estate need within Phnom Penh moving into the future is a lack of affordable, sole-purposed office space, believes CEO of Eastland, Mr Sam Yang. "There are a growing number of talented local entrepreneurs and small business owners who need a place for their businesses to take flight, without driving them bankrupt." The East Commercial Center (ECC) will be completed in late 2017 and provide the market with 38 floors of pure office space, divided into small and affordable units, with low management fees, and common areas with all necessary business amenities. Inquire about the East Commercial Center (ECC) on realestate.com.kh todayThe ECC project will include a total of 680 car parks, over 6 floors. And in fact, the following stage of this development will be the East View Residence project, which will include four 38-floor high residential buildings. The second Cambodian condominium project for Eastland Development. The current office space market in Phnom Penh is unsuited to the growing demand, believes Mr Yang. "These types of start-up businesses are not interested in A-grade office space, as rental rates are too high, and instead now find themselves adapting villas or flat houses into office space. Meanwhile, International companies are increasingly interested in moving an office to Cambodia at low risk because investment incentives are some of the best in the region."Inquire about the East Commercial Center (ECC) on realestate.com.kh today

Is a property near the action of a higher value? Or are home buyers and renters willing to pay more for some peace and quiet? It may depend on your taste... Learn how to make your home quieter here.For some, such as Brian, who lives on central Street 51, Phnom Penh - the noise is offset by his surroundings: "I'm a heavy sleeper, so I can handle the late night music outside my apartment window. For me, it is a welcome trade-off for being able to walk 5 meters outside my home and be immersed in the heart of Phnom Penh City - I personally love the smells, sounds and great food all at my doorstep! And no need to pay for transport."  However, according to Realestate.com.kh data, most of the housing market does put a higher value on quiet homes. Having your home on a quiet street can increase its value by thousands of dollars, if you can find the right type of buyer. The value of peace and quiet is highly sought after by many property seekers, and this is known by valuation professionals. Homes on noisy main roads generally lose 10% of their value, as compared to homes in the same area on quiet side-streets. Enjoyed this post?  Learn how to make your home quieter here.

Foreign direct investment (FDI) is luring a new breed of foreigners to Cambodia, and the region more generally. With foreigners comes an increase in demand for property, and different types of property - and a series of new allowances in national property laws to accommodate this demand.Foreign investors come to the South East Asia region for the low labour costs, connectivity between the neighbouring economies, and the huge supply of land, resources and business opportunities. And as local markets grow, FDI will naturally follow as international companies are spurred by the chance of jumping on the wagon of a fast moving economy. Foreign capital presents a huge engine of growth in South East Asian countries such as Cambodia, Vietnam, Myanmar and Laos - which cumulatively saw an average annual rise in FDI of 9.2 percent in the years 2010 to 2013. In this FDI growth, Myanmar was the leader of the pack with a 35.8 percent increase over the three year period. Cambodia followed with 22.3 percent; Laos came third at 15.2 percent; and finally, Vietnam, fell behind with just 2.6 percent growth over the three year survey. Yet, amid the Cambodia, Laos, Myanmar and Vietnam bloc, foreigners are subject to a variety of ownership limits. The foremost of these is being barred from owning land on a freehold basis, otherwise termed as outright ownership in perpetuity. This is a rule which is largely steadfast throughout the four nations’ borders. This may not be surprising, however, as freehold possession of land is likewise unavailable to citizens of Laos, Myanmar and Vietnam, where government policy holds the state as the principal owner of all land. Long-term leasehold is, therefore, the accepted form of land ownership for foreigners based in these nations. Lease terms are flexible for most purposes, whether it be for a new business property or a residential address, and allow room for ownership limits to potentially ease in the years to come as governments in the region increase efforts to attract quality FDI. Given the relative political stability in the region, investors are generally happy to accept these long term leases. Cambodia, unlike its three neighboring counterparts, has a freehold land ownership system for its citizens. Foreigners based in Cambodia are also allowed rights of ownership over certain properties, subject to 2010 Law on the Provision of Ownership Rights. These rights, however, are restricted to buildings that have obtained a "strata title", which is available only to newly completed apartment buildings. According to the strata title regulation, foreigners cannot acquire a ground-floor unit legally, and any foreign ownership allocation is limited to a maximum of 70 percent of the units in any one co-owned building. Nevertheless, a foreigner lease term over landed properties can still be up to a 50 year maximum, with a 50 year renewal option included. In Laos, land is owned by the "national community", meaning no individual or business entity, foreign or local, can truly own land. Land-use rights are only granted to individuals or organizations by the state, and these rights are able to be transferred or inherited. 50 year leases are commonly granted to foreign individuals or companies. Myanmar's constitution similarly establishes the state as the ultimate owner of all land. Yet, under the new Myanmar Foreign Investment Law, an investor may lease land for up to 50 years, with two 10 year extensions. Structures affixed to land are the property of the foreign owner, but these rights revert to the lessor or the state with no prescribed compensation when the lease comes to an end. A Condominium Law, likely inspired by the Cambodian example, that is currently in development in Myanmar but not yet in force, would allow a foreigner to purchase a condominium on the sixth floor or above of a co-owned building, up to a quota of 40 percent foreign ownership of the total units in the property. In Vietnam, freehold ownership by foreigners over land is prohibited by the constitution. Yet state authorized leases between 50 and 70 years are widely available, especially for development projects, and renewable at the discretion of officials. Further, pursuant to the Vietnamese Law of Housing 2014, a foreigner may now own a unit in an apartment or condominium building - if it is a no-more-than 30 percent foreign owned building. The influx of FDI and the relaxations upon ownership laws is pushing local real estate developers to create and sell more residential space suitable for the needs of this new investor class. The massive boom in construction in all of these countries, Cambodia’s condo explosion being a prime example, reflects this drive to meet a new FDI based market. As rules are eased, companies such as property developers, banks and providers of property-related services, like maintenance, insurance and security, soon flow into the economy and boost it from within. In evidence of this, the GDPs’ of Cambodia and Myanmar each grew 9.7 percent last year; Vietnam's shot up by 8.8 percent; and Laos experienced 5.2 percent GDP growth.

There are three basic components to any mortgage. You must understand these clearly before you start the home loan application process. If you missed Mortgage Matters Part 1, read it here!In short, these are the home loan amount, interest rate, and loan term:Mortgage Component #1 - The Loan Amount: The loan amount is the principal amount that you want to borrow. Banks in Cambodia generally give a loan of up to 70% of the property value. Mortgage Component #2 - The Interest Rate: The interest rate is very important to understand! It is the percentage of annual interest that you have to pay on the total loan amount. It can be a fixed rate, a flexible rate, or a combination of both. Mortgage Component #3 - The Loan Term: The loan term is the duration/length of time that you take to completely repay the loan. Loan generally range from 15 to 30 years in Cambodia. If you combine the principal loan amount and the interest amount, you will then know the overall loan amount. Most home loans are usually repaid via monthly installments.The repayment comprises two parts or portions. One part is for the repayment of the principal amount. The other part is for the repayment of the interest.Read Mortgage Matters Part 3 HERE!This information should help you calculate your monthly mortgage payment... These home loan calculators should help too! Ready to get a Mortgage?? Inquire for a home loan here.

Myanmar's election held on November 8, deemed as the country’s first free election in 25 years, caught the attention of people around the world as Aung San Suu Kyi’s National League for Democracy won by a landslide.Considering the date from the Directorate of Investment and Company Administration (DICA) indicating the rise in the real estate market in Myanmar from $440 million in 2012 to 2014, to $780.7 million this year, Post Property’s Catherine Harry met up with Kevin Goos, CEO of Century 21 Cambodia, to talk about how the changes in the political scene will impact the local and regional property markets. How does the Cambodian property market fare compared to the region? Cambodia has the most attractive market for real estate development in Asia right now. Following closely are Japan and Myanmar. Most real estate markets such as Singapore, Hong Kong, and Taiwan have seen a decrease in transaction by as much as 30 per cent; hence, the surge in foreign buyers over the last 24 months who are purchasing condos in Cambodia. Phnom Penh is seen as relatively affordable when compared to other cities in Southeast Asia and Cambodia has a strong economic growth track record with strong GDP growth since 2001. Comparative real estate markets such as Singapore, Taipei, and Hong Kong were booming in the 1980’s and 1990’s. What we are seeing in Phnom Penh is a city that is “catching up” and we can directly see the success of new developments, most notably North Park Condominium which sold 40 per cent of phase 1 on launch day.What advantages does Cambodia have in terms of laws, regulations and the ability for foreign ownership? Cambodia is good for business. The government’s stance on foreign direct investment (FDI) is very attractive when compared to surrounding countries. The drafting of the new development and construction law will create a clear pipeline for big developers to enter the market and the creation of the strata title and condo law in 2009, allowed for a transparent and practically applied way for foreigners to buy condos in Cambodia.Recently, Vietnam has brought in new laws for foreign ownership. While it appears to have had mixed results thus far, could this have an impact on property development in Cambodia? Yes. The new Vietnam laws on foreign ownership are a move in the right direction and I am sure when these laws are practically applied to the local market, more investors will continue to bring new real estate developments into Vietnam. Traditionally, if both Vietnam and Thailand are doing well in real estate, Cambodia also grows. In this case Phnom Penh is very far ahead of Ho Chi Minh City for condo development, housing development, and commercial development. The main positive effect of a prosperous real estate development market in Vietnam, that benefits Cambodia, is the decreased cost in construction materials for new developments in Cambodia.With Myanmar’s recent election, and the hope of a proposed condominium law, how could this change the focus of investors looking at frontier economies? How do you see the election results affecting the real estate market there? Myanmar is an attractive country for both retail and institutional investors, largely due to the growing populations, geographic location, and the positive results of last elections. However, for brands entering the real estate market, like Century 21, we are still very far from considering Myanmar as US sanctions are still in effect and pertain primarily to property. The condo law has been in the works for roughly 24 months and would have a great effect on real estate developments in the country. Once Myanmar finalises the condo law and allows foreigners to own condominiums outright, we will see a huge surge in world class developments begin to emerge in the country, bringing some of the best developers and large amounts of FDI.How important is political stability when it comes to investors’ decisions? Both retail and institutional investors are smart and base their decision around elections in frontier markets. However, Cambodia has been very consistent in economic growth and political stability for the last 15 years. We are seeing investor confidence at a very high level in Cambodia.After the recent political events in Cambodia, do you think it will have a lasting effect on the real estate market? The real estate market here has not been affected by any recent political events. The only political events that affect real estate transactions in Cambodia over the last 15 years are elections and they are minimal. Usually transactions begin to slow down about six months prior to elections and pick back up again about six months after the election outcome. This has been the recent trend and we expect to see this trend continue. However, as Cambodia enters into the ASEAN community, we expect to see a strong real estate sector in Cambodia well into the 2020’s.It’s believed that foreign investment in retail in Myanmar is limited because of its regulations that require foreign-brand entries to team up with local partners. Do you see similar problems happening in Cambodia? Foreign brands can enter the Myanmar market as a franchisor without a local partner but are required to have less than 40 per cent control over franchisee operations. American brands are still very hesitant due to the current sanctions that pertain primarily to specially designated individuals (SDI’s) who are considered to be involved in human rights violations. Currently, there are about 85 SDI’s that are restricted from doing business with American brands or American nationals should they involve in more than 50 per cent of the current investment, especially in property.This article was a co-production of Realestate.com.kh and the Phnom Penh Post, Post Property.Stay tuned for more updates from Realestate.com.kh!

Taylor Swift's real love story is buying property. Her property portfolio is said to be worth around US$70 million, and spans across Nashville, LA and New York. Take a look at some of Taylor Swift’s homes: Swift's Nashville Homes: Swift owns two properties in the city where her career took off. The first house is a US$2 million penthouse in The Adelicia complex in downtown Nashville, purchased when Taylor was 20. Swifts Beverly Hills Home: Bought in 2011, Swift spent US$4 million on a four-bedroom, four-bathroom home with grand views to the Santa Monica mountains. Swift's Rhode Island Home: Taylor bought this seven bedroom home on the highest point of Watch Hill for a mere US$17 million...

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