Mr. Kim Heang, CEO of Khmer Real Estate Co., Ltd, was awarded the honor of becoming the President of the Cambodian Valuers and Real Estate Agents Association (CVEA) at the presidential elections held at the Cambodiana Hotel last Friday, 25th of September. Kim has over 12 years experience in the Cambodian real estate industry, and has demonstrated leadership in several roles - the foremost being his position as CEO at Khmer Real Estate.  In his presidential pitch, Mr. Heang presented the members of the CVEA with promises for the direction of the Association under his leadership. "Firstly," said Heang, "I will gain the trust of the members and the general public and will set a goal for the organization which I can achieve during my term as President." Mr. Heang's promises included reaching out to sponsorship of the CVEA through various levels of membership. The majority of these sponsors will be Real Estate Developers, Construction Companies and Banks. Heang vowed to all members to see the CVEA, "work with the Ministry of Economic and Finance, or State University, in bringing an International School into Phnom Penh for a Real Estate and Valuation focused curriculum." Further, Heang wishes to see valuation services standardized in regards to price and quality: "We need to make the minimum charge at $170 per valuation report, as of January 2016, and increase this minimum rate to $200 per report, by January 2017." Realestate.com.kh wishes Mr Kim Heang the best of luck in bringing these initiatives to reality - and hopes the CVEA can continue to provide support for the real estate community.

Whenever renting a new house or commercial space for business, the things that grab our attention first and foremost are the location, price and the supporting lease clauses. However, we often miss out on and overlook certain small but equally important things. You should remember that your final lease agreement is not going to include a lot of important stuff that will ultimately make or break the rental agreement, and this could well be the same stuff that even your landlord or broker won’t reveal pre-contract. Read another Checklist for Securing your Dream Rental Here.Here is a few extra things to consider above and beyond the rental agreement, thanks to Realestate.com.kh:How's the Landlord?Always do a background check of your landlord to make sure everything is above board. This need not be a difficult one, or necessarily call on any official records. Neighbors and grocery shop owners in the vicinity are often the best sources that can help you ascertain your prospective landlord’s nature and his ownership over the property. Also, you should check how far or close he or she lives from the rented apartment. A  landlord who is too nosey is sometimes equally as bad as an extremely laid back one. A lot of good apartment rental experiences are ruined because of landlords - so work out fast whether or not yours in a keeper. Also, try to speak with past tenants. The landlord may be able to provide contact details of the last tenant. If he or she does, call them - and get the down-low on the property and the landlord before agreeing to sign on.Meet the Neighbors:Similar to the above regarding landlords, a bad neighbor can ruin your rental experience. Try to meet your neighbors before finalizing the house agreement and find out whether they will have an overbearing influence on your life. Consider their set up too - is it a family living beside your house or a bunch of young guys? This will make a difference to your satisfaction once the contract is done - so find out before the point. Visit at night:Visit the area where your new residence resides at night to check its safety. A neighborhood that’s calm during the daytime can turn into a very noisy place at night time. Does a KTV open next door after 7pm? Is the entrance to your prospective home lighted sufficiently? Do you feel safe in the new area? If you don't, you can bet your family won't.Is your pet allowed?Find out your landlord’s stance on pets, if you have any. Many landlords don’t allow pets, so finding one which does can often be a challenge for the renter with fluffy friends.Consider the local commute:Try and get to work, or school, from the new house - before agreeing to live there. Many times,  our commute related research is merely based on the rough distance between your home and destination. Walk through your travel route and see how easy and efficient it really is.You’re now ready! Get on Realestate.com.kh/rent today and start the search for your dream rental! Of course, Realestate.com.kh’s 6000+ rental listings make it effortless to see what is available across the Cambodian rentals market. Read another Checklist for Securing your Dream Rental Here.

Finding the perfect rental can be a taxing experience. Of course, Realestate.com.kh’s 6000+ rental listings make it effortless to see what is available across the Cambodian rentals market. Yet, when it comes to inspections, the bulk of your search and consideration usually revolves around technical aspects of the new home, such as proximity to your office or your kid’s school, your budget, the number of bedrooms and the like – it is easy to overlook some of the smaller but equally important details during the heat of the viewing. Here’s a checklist, thanks to Realestate.com.kh, to ensure you’re not forgetting anything! Additional costs: Most rental rates are exclusive of extra monthly charges. Monthly maintenance, waste collection, gas and water rates, electricity bills, bond payments etc. can add to the monthly rental price significantly – so make sure you inquire about all extra expenses while you are viewing. And confirm them in the rental contract before signing. Expect to pay no more than 1000Riel/$0.25 per Kilowatt for electricity, $5 per month for water charges & trash collection and $5 per month for TV cable connection. Read the contract: Seems like a no-brainer – but read your rental agreement with care and attention. Learn the ways in which you can be liable for a breach of your contract, for example having pets or parties – different land lords’ stipulate different reasons for being allowed to throw you out, so make sure you know what the land lord in question expects of you before you agree to stay. Get the right title!Everyone haggles! Always bargain the price with your landlord no matter how it makes you feel. Learn how to haggle here. The same goes for your real estate agent. Remember, that while your real estate agent is acting in your interests to some degree – they are ultimately acting on behalf of the sale, and their commission will be higher if the final agreed price is higher. If you are applying for a long term rental, 1 year or over, use this as a bartering tool. Also, while the landlord may not be flexible on monthly rental price, you may still be able to push them for additional services or home furnishing/appliances for free as contract sweeteners. An upfront advance on your first few months’ rent may also be an enticing bartering point for landlords looks for a fast cash injection in the short term, but ensure everything is receipted correctly. Here's some tips to finding the perfect agent.Safety First: Regardless of what your agent tells you, be personally responsible for you and your family’s safety when considering any new rental property. Walk around the neighborhood of any property you are considering renting, speak with neighbors (and other tenants if it is a shared building) and come back to the area at nighttime and make sure no hidden threats appear when the sun goes down. Also, always consider the potential for flooding. A 24 hour review is necessary to note any noise hazards too – there may be construction in the afternoon that you never noticed at the morning viewing, or a night club could open at night next door. For a little extra attention before agreeing to the rental contract, you can truly understand the pros and cons of the property. Little Things: Check faucets, door hinges, locks, door knobs, power points, appliances, water heaters and gas cookers before agreeing to rent. Most of the time these things look perfect until further investigation - but if you catch minor problems now, you can ask the landlord to fix them before the agreement is settled. Here is a pre-purchase property checklist.Bug Free? Keep your eyes peeled for any signs of a bug infestation. It is not uncommon and it’s easy to miss signs that your new home is shared by a family of cock roaches, termites, mice or other pests. Unless it’s a critter co-lease you’re looking for, find out before it’s too late. Photo Evidence: Before agreeing to the bond payment, take photos of every room in the house while it is empty. In these pictures, make sure you evidence any preexisting damage to the property. This way, when your contract eventually ends, the landlord has no grounds to deduct wear and tear damages from your deposit that in fact you weren’t responsible for. You’re now ready! Get on Realestate.com.kh/rent today and start the search for your dream rental!

The borey life is the dream of countless families across Cambodia. However, not all boreys are equal. Here is a checklist from Realestate.com.kh to make sure you are in fact securing the right property for you and your family - and a sound investment.What is a borey?Essentially, a borey is a gated community of flat houses, twin villa houses and single villa houses, including public areas, gardens and full security services. Those who want to buy a borey home are looking for privacy, a safe place for their family to grow, areas where communities can develop, and a place where all modern amenities are assured. They are they prefered first home of newlywed Cambodian couples looking to start a new family. Not Cambodian? Not sure if you can buy a borey? Learn about foreign ownership laws here. Learn more about Phnom Penh Residential Space here.Is it a registered borey you’re buying?Before purchasing any “borey” home, or any gated community home which calls itself a “borey,” you must first ensure it is infact registered as a borey and has all the correct licenses. Ask your real estate agent, or the property owner, to provide all certification before considering purchasing the property.Here is what you need to see:Correct Hard Title:  The borey development owner must first have hard title for the entire project property, and it must be divided into individual hard titles for each housing unit within the borey. Learn more about Cambodian land titles here.Registered Development Company: The owner/developer must be a registered Cambodian company.Master Plan Approval: Before any construction begins on a borey development, the Ministry of Land Management must first approve the developer's Master Plan.Construction License: Having approved the master plan, the construction company is scrutinized. In order for a gated community development to call itself a “Borey,” it must be built by a single, registered construction company, with a license to construct from the Ministry of Land Management. This ensures the buildings are built to an adequate standard, and necessary amenities and infrastructure are guaranteed.Borey License: If everything is in order, the Ministry of Economics and Finance issues a borey license - which means that the Government is satisfied with the quality of the development’s design and sales plans, and the correct land titles for that housing project are in order. Each property within the development will have an independent hard title, meaning the future home owner has full ownership rights on purchase. This means the development can legally be called a “borey”.Buying a registered borey home means due diligence has been done for you by the Government - at a national level - and you can guarantee that the correct construction and legal processes have been followed.In comparison, Cambodia hosts many large developments of flat houses which look exactly the same as a borey community in their design, and sometimes even called a borey in their marketing. However, those developments have not been scrutinized or licensed. Developers avoid registering as a borey because of the additional expense and scrutiny over their construction and legal standards. To build and sell a flathouse development, not titled as a borey, means less licensing is required, and official permission for construction and selling is only needed at a Khan or Sangkat level. Your title may not be valid, and the quality of the house’s construction and its Sales and Purchase Agreement is not certain. Avoid unregistered flathouse developments, or risk investing in a insecure asset that may not match pre-sale descriptions.Check out Cambodia’s latest and greatest borey homes for sale and rent on realestate.com.kh today!

See the ECC Featured Listing on the New Developments page The East Commercial Centre (ECC), slated for completion along Norodom Boulevard in late 2017, seeks to create a hub for new business in Cambodia. The interior layout of ECC will reflect the demand of start-ups and international business entrants as office space is available in compact and affordable units, between 33msq and 66msq per unit, with rental pricing as low as $15 - $20 per square meter, and managerial fees less than $2 per square meter. All common areas lighting will be solar powered to further reduce managerial fees and the building’s carbon footprint. The East Commercial Center shall offer affordable and highly practical office space in the heart of Phnom Penh. However, the ECC, a single tower of 38 floors, is part of phase one of a much larger development project. East View, the development that will host the ECC Office tower, will include three 38 floor towers in the first phase of the project, all developed by Eastland (HK) Ltd. The two other 38 floor towers that will complement the ECC tower are entirely residential - the East View Residences. The advantage of having one office tower, ECC, and two residential towers in the same development, the East View Residence towers, is that businesses that buy or rent office space in the ECC tower will be able to live within the East View Residential towers. Living close to your business headquarters is a competitive advantage in downtown Phnom Penh, where traffic congestion is a growing consideration. Also, no time and money spent on transport to your place of work means more time and money for your family, friends and pursuing new business opportunities. The East Commercial Centre (ECC), slated for completion along Norodom Boulevard in late 2017, seeks to create a hub for new business in Cambodia. Since the announcement of the construction of the first phase of the East View Development, namely the ECC tower and the first two Residential towers, Eastland has received great feedback from the local and international market - businesses want to reserve office space in the commercial center and families and business people want to buy units within the first two residential towers. In light of this very positive response and the sense responsibility this has evoked in the developer, Eastland intends to start the second phase of the Eastview development shortly. The second phase will include a business hotel and supporting facilities to meet the ECC’s demand. Some of these additional facilities will include a high-end club, a swimming pool and a full health and gym center. A lot of real estate agents have also shown great interest in the ECC and East View development, and Eastland has confidence that over half of the development will be able to be sold to locals within the Cambodian market.  See the ECC Featured Listing on the New Developments page

Welcome to Realestate.com.kh's Dream Home Report. Every week we will showcase one of our 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 look to Sihanoukville and a set of Island Villa's that will make any beach lover excited. The resort features 27 intimate island villas, uncompromising on luxury and design to reflect the simple beauty of the natural environment. See the full listings here and here Villa 2 is one of only three two bedroom overwater island villas at Song Saa, and the only overwater villas with swimming pools in South East Asia. The island villas offer direct access from the deck area into the sea, as well as perfect views out over the local scenery. It is the perfect place to enjoy a sunset drink with friends and loved ones. Complete with private pools, high-end creature comforts and a world-class restaurant and lounge at the heart of the resort spectacularly positioned just off the island’s shoreline and surrounded by sea. A short stroll on the boardwalk will leave you perfectly positioned to take in dramatic sunsets, seascapes and starry nights. * Vista Bar and Restaurant * Driftwood Bar * Pool-side dining * Large infinity edge swimming pool * Spa and wellness sanctuaries positioned in the rain forest and along the shore * Yoga meditation centre on the shoreline, ideal for yoga at sunrise * Water sports such as scuba diving, kayaking, snorkelling and boating * Ecological programme to experience the areas flora and fauna * An exclusive island boutique featuring designer labels from around the world The villa is available on a sale and leaseback scheme where owners are entitled to 30 nights usage a year in exchange for a return. Located within the Koh Rong Archipelago off the coast of Sihanoukville, Cambodia, the luxurious and idyllic Song Saa Resort spans the islands of Koh Ouen and Koh Bong (known locally as Song Saa – Khmer for ‘The Sweethearts’), connected by a footbridge over a marine reserve which is home to an abundance of marine life including turtles, seahorses and exotic species of tropical fish. With an ever increasing number of international flights into Siem Reap and Phnom Penh, and with the recent introduction of domestic flights between Phnom Penh and Sihanoukville, access to Song Saa Private Island has never been easier. From Sihanoukville Port it is then a comfortable 35 minutes to and from Song Saa Private Island on luxurious speed boats. See the full listings here and here This listing is from Knight Frank Cambodia, one of Realestate.com.kh's latest "Featured Agents". Find out how to become a "Featured Agent" today!

As Cambodia’s property market expands and diversifies faster than ever before, both locals and expats are seeing opportunities in the real estate industry. As a real estate agent your earning potential is near limitless and, meanwhile, the market place is so broad and various, almost anyone can find their sales niche and succeed.In many other countries there are various types of real estate agents with real estate sellers’ licenses suitable to their domain – whether it be rentals, residential sales, commercial, land, high-end, low-end, new developments and so on. In Cambodia, however, real estate agents only need to be licensed by a registered real estate agency. For those that want to become an agent, they must choose what direction to take their career; and for those looking for a property, they must choose what type of agent is best for their property needs. Here’s a guide to the different types of agents available in Cambodia, and why you might or might not want to choose them for your next property search… Full Salaried Agents:Full salaried agents are registered employees at a real estate agency who receive regular pay checks regardless of their sales results. Meanwhile, full salaried agents also generally receive an additional income of between 10 to 15 percent share of the final commission sum when they do sell. The benefits for full salaried agents are that they are guaranteed an income even when the property market slows down and sales are hard – but their commission rates are smaller than some other agents. For agency owners, offering a constant salary to agents may limit their incentive to really chase sales. For property seekers, employing this type of agent may lead to a lower-quality of customer service because they have no exclusivity over your listing if selling, and comparatively low incentives to do what it takes to find you the perfect property if you are buying. The quality of service of this type of agent will depend solely on the reputation of the agency – so choose your real estate agency wisely.Employed Commission-Based Agents:This type of agent is likely the most common way of working in any real estate market. An employed commission-based agent is hired by an established real estate agency and is paid only when they close a sales deal. When they do sell, they will receive around 40 - 60 percent of the total commission share, and the rest of the commission will be given to their agency. After all, they provided the agent with the collateral, leads and listings necessary for the sale. For agents beginning their career, this is an easy way to get started. Why? You will have access to the company’s listings and joint marketing efforts, meaning that no upfront costs or efforts are required from you. You will be rewarded on your success with high commission shares – but if you can’t sell, you won’t make anything. For property buyers and sellers, be aware that while many real estate agencies employ agents on these terms, not all agencies are as good as each other. Therefore, before you hire an agent like this, you must investigate the reputation of the agency that they work for. A good agency will assist you with all aspects of property purchasing and selling - such as inspections, valuations, marketing and legal considerations before and after the sale. Look for a wide set of skills and an intimate understanding of the local real estate market. Don’t settle for less.Freelance Agents:Freelance real estate agents were once extremely common in Cambodia. However, they are now illegal. Any real estate agent in Cambodia must be registered to a licensed agency. As freelance agents were liable for full commission on sales, they were more motivated than other agents to close a deal, and often worked harder to find a mutually beneficial contact between the buying and selling parties. The risk of working with ‘cowboys,’ however was high - freelancers will do almost anything to try and close a deal. The freelancer answers to no one, and no agency. For these reasons, only deal with registered real estate agents in Cambodia.If you are looking for an agent, the first place to look is the Cambodian Real Estate Agent Directory at Realestate.com.kh.

Obviously the construction industry is booming alongside the recent explosion of high rise apartment and condominium projects taking place across Cambodia. However, this recent surge in development is also benefiting some lesser known industries, those of which are working toward improving the end quality of these development projects for both buyers and sellers.Some products proving hugely popular to the latest new developments in Cambodia are onsite gyms, health and fitness amenities. A rise in these additional features in new developments nationwide reflects international consumer trends appearing in the Kingdom as they never have before. Speaking with Simon Rapoport, Country Manager of Seara, official importer of Life Fitness exercise equipment in Cambodia and full package gym design and installation professionals, we discover what is fueling this surge in demand for high end amenities within new development projects. “When we install the gym, we add value to the project immediately,” remarks Rapoport, “and we help to maintain trust between the developer and prospective real estate buyers.” As many new developments are being presold before their construction in Cambodia, the end buyer is instilling a lot of trust in the developer to provide all features promised when the apartment, condo or serviced unit finally becomes available for new tenants.  Tales of missing features when the development is finally ready for occupancy are rife throughout the industry – for instance, gym space provided as according to the presale project specifications, but no equipment to be seen at the final launch, or much cheaper branded equipment than first promised; previously touted roof top pools that are cut in final budget considerations; and the arrival of new management of serviced condos and apartments that don’t hesitate to ignore earlier promises of products and services once the project welcomes its new tenants. For this reason, says Rapoport, “the developers we work with increasingly want to see the gym constructed and fitted as soon as possible.” The reason being, “if the potential buyer comes to view the project mid construction, and the gym on the fifth floor has already been fully fitted with international standard equipment, even while the rest of the building remains a work in progress, the buyer has already witnessed the developer fulfilling promises within the presale specs.” Building a gym or sports facility first is an exercise in building one’s credibility in the market: “They’re saying, ‘Count on us – We said we will provide a world class gym, and look, here it is!’” remarks Rapoport. New developers are promising leading brands, such as the Life Fitness equipment that Seara Sports fit and maintain, and they want to prove this to new unit buyers who are voting with their feet across Phnom Penh. Sharon Liew, from Huttons CPL, notes that this credibility gap is caused by a lack of enforcement in the advertising legislation for false advertising surrounding the Cambodian property market: "In Cambodia, real estate marketers are free to misrepresent the development to purchasers without any legal repercussions. In Singapore and Malaysia though, for example, showroom units used to sell the development before it is completed must be exactly the same specifications and dimensions as the completed unit. If not, the buyer has a legal right to challenge the agreement and potentially void their purchase agreement." In the meantime, Sharon recommends buying from developers who include building and unit specifications as well as facilities included in the Sales and Purchase Agreement. Demand for health and fitness products within new developments also marks a clear conceptual desire for many home and investment buyers looking to move to modern home complexes throughout Cambodia. “Those who are buying units in these new developments are not simply looking to buy a home,” believes Rapoport, “they are buying a lifestyle.” “It’s all about health,” says Rapoport, and this concept is becoming cemented in the mindsets of consumers throughout Asia, and increasingly Cambodia. When new buyers see an apartment block that offers an onsite health and fitness center, they see the chance to purchase a better life – one in which daily fitness is guaranteed and doesn’t require navigating the congested inner-city.” For the same reason, new project buyers also desire other inclusive amenities such as cafes, restaurants, communal areas, sports facilities and onsite events. Sam Kiers, from Elevated Realty, notes that many development administrations only allow access to gym and health facilities to fulltime residents of that particular property.  However, a few condominium developments are less strict on these policies and open onsite gyms to family, friends and acquaintances of their occupants. Kiers supports this later trend as it represents an ongoing tool for developers and agents to introduce potential clientele to the building in a positive light.  The traffic an open-gym policy generally includes the type of potential clientele that the developer is seeking – relatively affluent, mobile and clearly interested in the fitness facilities the development has to offer. “Developing sustained interest in any new development is becoming more and more important with the condominium influx,” notes Kiers. And it is not just international developers seeking these features, says Rapoport, who has witnessed a surge in local developers wishing to integrate gyms, sports grounds, pools, and steam and sauna facilities within their new projects. Throughout the market, quality is in demand. And quality does not limit itself to the building alone, suggests Rapoport – “It is intimately connected with the quality of life a new development can conceptually represent.”

See the Full Listing HereLocated on the corner of Street 214 and 51, between the four icons of Phnom Penh - Independence Monument, Royal Palace, National Museum and Central Market - East One Apartments offers a prime location to anyone working in international embassies, Government ministries and the Central Business District; or for anyone who wants to feel the pulse of Phnom Penh city. All East One high-rise residents are guaranteed the best river views in town… Because the apartment complex is located alongside the border of the Royal Palace, all surrounding buildings now have height restrictions of no more than 10 floors on their titles. That means that if you buy an apartment unit between the 10th and 22nd floors in East One, your perfect view of the Tonle Sap will be secured for the future! All East One Apartment units come fully furnished with international brands “American Standard,” “Samsung,” “LG” and equivalent standard brands. Each unit includes all soft and hard furnishing to suit the space perfectly, as chosen by professional interior designers, including all electrical appliances for modern living. Meanwhile, the complex includes full service hotel-style amenities with rooftop swimming pool, café, car parking and full concierge service. Head downstairs to enjoy world class amenities and entertainment within walking distance of your new home, including the award winning House of Seafood and Breadtalk - two F&B brands direct from Singapore, more than 5 banks, various supermarkets, KFC, Browns Coffee, all major airline offices, and the host of nightlife which awakes every night along Phnom Penh’s famous Street 51. And you can rest assured that your investment at East One will be immediately profitable. Why? To assure rental returns for buyers, the East One Developer, Guangzhou Yuetai Group Co., Ltd., is guaranteeing a 22.5% rental return payable upfront as rebate to the purchase price. Meanwhile, demand for high end rental apartments in this area is particularly high generally; the nearby Maline Apartments, for example, is renting studios at $1500/month, which equates to more than 10 percent rental return. Guangzhou Yuetai Group Co., Ltd., with over 8 Billion Yuan in total assets, has huge experience in building and managing service apartments to a world class standard. In 2003, Yuetai Group acquired Donghua Enterprise, a listed company on the Shanghai Stock Exchange, and successfully built its own property brand known as ‘Swan Bay,’ renowned across China for luxury living solutions. Swan Bay comprises over 20 high-end real estate projects in over 13 cities across China, exceeding 4 million square meters. Yuetai Group has won various honors for their real estate developments, including the Guangdong Top 20 Real Estate Qualification and Credit Enterprise Award, Guangdong Top 100 Private Company Award, the Guangzhou Top 10 Most Competitive Real Estate Developer Award, Guangzhou Trustworthy Brand Developer Award, and a Contract Abiding and Creditable Enterprise Award, to name just a few. See the Full Listing Here For more information and to arrange a viewing, please contact us today or visit the East One Showroom - Opposite Cell Card, and next to ANZ Royal on Sihanouk Boulevard. (#182, Preah Sihanouk Blvd , BKK1, Chamkarmon, Phnom Penh).

A lot of people talk about buying investment property. However, this is not always as simple as it seems. To make any property a lucrative investment, you need to buy the right investment property and you need to manage it correctly.Here are the top three ways to make your real estate earn extra income for you and your family. Missed #1? Click here to read them first!#2 - Buy a Property to Live in with High Appreciation Potential: This is what most people immediately think when they think of the term “Investment Property.” Invest in real estate that you will live in yourself, and hope that while you stay there, the price of the land will rise enough to cover the mortgage that you took out to initially buy the property. If the property appreciates sufficiently while you stay, you will make money on top of the mortgage and this is your end profit. This is also an investment suitable for those who don’t want to rent a property. When you rent for a long time, you might feel like you are wasting money by giving it to your landlord. If you buy the property, this money you would have spent on rent is instead going to be spent on the mortgage repayments. When you are ready to move from the house, you have the opportunity to make money on top of any costs of the mortgage. But remember:This is a much harder game if you don’t have upfront cash to buy the property or subsidize the loan – because the mortgage repayments are going to eat into your investment earnings.It also requires a better understanding of the real estate market trends that you are in, as you must find a property that will appreciate reasonably quickly.This investment tactic tends to take longer – in that you may need to wait for many years before the property appreciates enough to be worth selling again.It also requires economic stability during that period, increasing the risk.But, if you choose the right property, in an area appreciating fast, this type of investment strategy can work. And meanwhile you always have a place to live. Here’s what to look for:Property and land tends to appreciate naturally as other things develop around it, so when you look for an investment property to live in, try to choose upcoming areas. Places where maybe the level of infrastructure is currently lower – but clearly rising quickly.Don’t buy in areas which are already fully developed, unless you get a very competitive price when you buy the property. The appreciation in these areas is likely to be slower.Look to see where other people are choosing for investment and speak with real estate agents.Always research the market before buying a live-in investment property.A note regarding Land Investment: If you want to simply invest in land – you must invest at or below market value. If you spend too much on a land investment, your risk that it won’t increase in value is high, and meanwhile, you get no benefit from the property what so ever.Read #3 Here

A lot of people talk about buying investment property. However, this is not always as simple as it seems. To make any property a lucrative investment, you need to buy the right investment property and you need to manage it correctly. Here are the top three ways to make your real estate earn extra income for you and your family. Missed #1 or #2? Click here to read them first!#3 - Buy a property, Increase its Value, and Flip It: Potentially the fastest way to make a return on your investment is to buy an investment property that you will be able to improve through renovations and then sell for more than what you originally bought it for. Yet, no money is easy money – and some investors do not consider the true costs and skills necessary to buy, fix and flip property.One way to do this is to invest in a ‘property with potential’:A property with potential is one which is currently underdeveloped – but has potential to be a very attractive property with a little work and money.Yet, again, location is everything when it comes to re-selling property. So not everyone has money to buy in the right area and then spend money developing the property.Remember - Always get a professional valuation before you purchase any investment property, and this will help you find out how you can realistically increase the properties market value.Once you have developed the property, re-value it and see where its market value has moved to.There is no doubt that this option requires significant upfront capital – cash now. But if you have it, buy more and get a discount:Developers and other property investors with various properties will often give a much better price if you are willing to buy a number of properties.The money you save with this bulk discount can be used to improve the property for resale.You could consider buying a whole floor of a condominium building, for instance, then live in one unit while you rent out the others, or renovate the others for resale yourself.Then, sell all of the units at a higher price when the land beneath the condo appreciates.Missed #1 or #2? Click here to read them first!

Currently, the private sector is the only real force bringing fire prevention and response considerations into new building developments in Cambodia, says Paul Hurford, Managing Director of Azisafe Cambodia. Yet, even these standards can prove problematic in the Cambodian firefighting environment. [caption id="attachment_77921" align="aligncenter" width="540"] Hong Menea, Phnom Penh Post[/caption] The Fire Prevention Law, which is currently in force in Cambodia, is an overarching document that represents a cross between a fire safety law, a fire service law and a catalogue of emergency response standards. “It reflects a law that was intended to have specific regulations created under it,” says Hurford, “yet these regulations have yet to be created.”This means the law currently has no direct compliance mechanisms, and little practical application. [caption id="attachment_77915" align="alignleft" width="200"] Hong Menea, Phnom Penh Post[/caption] Many new buildings currently being erected throughout Cambodia claim to bring international standards of fire safety, fully integrated into the new building’s design. However, Hurford notes, while Singaporean, Malaysian and Hong Kong fire standards are increasingly integrated into new developments, these countries have some of the best fire services in the world in regards to response capabilities and external fire infrastructure. “Although a new development may incorporate international standards in regards to fire prevention within its design – if the local fire service arrives and their equipment has different couplings to those installed inside the building, these international standard systems are immediately useless.” The same issue occurs when the response team is not trained in using these internal firefighting systems. For these reasons, to achieve worthwhile fire design, emphasis must lie on emergency response mechanisms related to each building, and appropriate training for first response teams for that building, says Hurford.  This means compatibility with available local firefighting equipment, but also a strong emphasis on training and response protocols. Some new developments are taking matters into their own hands in this regard, employing and training in-house firefighting teams. Hurford agrees with this measure, as “realistically, each development must be self-sustainable if they want to control fire risk in Cambodia.” This includes internal systems capable of fighting the fire, such as sprinklers, alarms, and appropriate extinguishers, but always combined with emergency protocols, training and education. Hurford notes that for developers, given the potential risk to their investment – “no one is really doing enough.” Meanwhile, response capabilities of the Cambodian fire service are limited by an equipment and skills gap. The Cambodian fire service exists within a culture of donation in regards to equipment, suggests Hurford -as internal funding is seldom afforded, there is an expectation that equipment will be donated. But this raises issues when that donated equipment does not suit the Cambodian firefighting environment. For example, says Hurford, the Japanese have donated many fire engines to the Cambodian fire service. While the equipment donated is of a high standard, it is suited to a Japanese firefighting environment where fire hydrants are always readily available.This means the trucks only have very small water tanks. In Cambodia,there are very limited hydrants available and, therefore, for a firefighting team to be successful, it must carry all necessary water to the scene of fire. “This is just one example,” notes Hurford “but it is symbolic of the Cambodian fire service’s equipment problem.” [caption id="attachment_77925" align="alignleft" width="350"] Hong Menea, Phnom Penh Post[/caption] Hurford suggests that the only way for the Cambodian fire service to move forward is to create standards suitable to Cambodia’s needs, tailored to Cambodia’s means – then train across the board on these standards. A few groups are currently trying to help with this, such as Eurocham’s current work on the new Construction Law, and the IBCs involvement with the Building Standards and Fire Safety Committee – both of which are working alongside the Government to move from a reactive state of affairs, toward reaching standardized fire safety mechanisms that will really save lives and property. Hurford is currently involved with the formation of the Emergency/Fire Response Working Group, set to meet for the first time this August. This working group shall bring together all government departments involved in emergency response mechanisms, along with private sector members with experience in the field of emergency response. The group shall conduct mutual trainingexercises for its members, and try to standardize training and communication procedures throughout the country. While this group is still very much in its infancy, it has already been endorsed by the Police Commissioner and Ministry of Interior. Hurford notes that everyone trying to work together on this is in itself a forward step.real estat

Currently, the term “International Standard Development,” increasingly touted in Cambodia, means bringing an international team of sub-contractors to Cambodia who understand and practice these standards, said Elain Younn, Director of  240 Development Company Ltd , a seven floor condo complex situated in the heart of BKK1. Yet, local developers who can’t connect with international standard sub-contractors are struggling to incorporate these standards alone. This is only natural, said Younn, a Khmer national with Australian dual-citizenship, as it was only a few years ago that local developers were building no more than villas and other low rise buildings. These could be done to a reasonably high standard using domestic sub-contractors due to their size and manageability and a vast local experience in constructing these types of buildings. However, now the Cambodian development property market horizon has leaped forward, leaving a yawning skills and understanding gap. If a local developer has the means, they can now get a permit to develop a high-rise apartment building and by doing so, enter a far more lucrative market where both Khmers and foreigners can buy. However, this is a far more advanced design and structural feat of which most local developers have never had experience, said Younn. “For this reason, Cambodian developers are increasingly employing Thai, Singaporean, Vietnamese and other international architects to help them plan new developments,” said Younn. 240 Development contracted Gary Fell, an English architect and founder of GFab Architects Indonesia, whose other Cambodian projects include the Sheraton Hotel in Siem Reap, the FCC in Siem Reap and iCan International School, of which Younn is the owner. Yet, in terms of construction standards, local developers are not ready for the cost of this guidance, suggested Younn. To bring in international sub-contractors for the construction process, including structural engineers, plumbers, electrical engineers, lift installation specialists, security equipment and fire safety standards, the cost of the completed project rises more than threefold—as Younn is intimately aware, having contracted various renowned international contractors for 240 Condo project. Still, this is only natural for local developers, as the relative prices at which they can sell the finished units doesn’t rise to match the additional costs of international standard compliance. For Younn, the livability and peace of mind that international standards of design and construction offer to buyers and occupants easily justifies the higher costs of importing these standards for 240 development set to open in just over a month, after almost 6 years of construction. Furthermore, no one is holding local developers accountable. In their building permit, developers only define the type and scale of their project, and at the completion of the building process, all that must be checked is that the final development has maintained the permitted specifications. The permit is purely procedural, and no additional checks are under taken to ensure any standards of quality have been reached. No outside the auditing company or the overarching inspection contractor is responsible; the only checking is done internally by each sub-contractor. With the Cambodian Construction Law currently entering the final stages of drafting, however, this could all change. The new legislation will provide an overarching law for the building industry, a national building code with individual prakas will also be required to address building standards pertaining to project management, work site safety , fire safety and building control, just to name a few. Younn commented that the practical power of the new law will be in its inspection requirements and compliance strategies. If there aren’t strong compliance efforts and education of the market as to how these standards are maintained, it seems unlikely to have the necessary effect because it will be competing against market value. If the will to enforce is there and reflected in compliance measures, however, Younn believes that Cambodian construction can move forward – as has been seen in other areas such as the recent tax reforms. Regardless of the new law, however, Younn believes an ideological shift is currently occurring in the minds of both local developers and local property investors. As more and more international standard developers are coming to Cambodia, they are demonstrating what is possible in the property sphere. Meanwhile, each international development brings with it huge resources and expertise which are slowly but surely educating the local developers, subcontractors and the market on how to properly take on these grand scale projects. This means local developers are striving to build world class buildings, as innovative and impressive as those being erected around them and built to international standards. As importantly, they are gaining the necessary contacts to help them do that. Market forces are changing too, said Younn, as consumers are more and more willing to pay for quality: “What we are seeing across the development market is an ongoing education process with real and physical examples that demonstrate the value of quality – and this means people no longer feel assured living in substandard buildings.” Look at Aeon Mall, for example, remarked Younn, “it is built and managed to an international standard and consumers and international retailers are instantly responding to this through their demand.” “It is like a child learning to walk,” summed Younn. “We are walking in Cambodia now, but we need to make sure it is in the right direction.” Yet, as Cambodian property market is redefined by international developers at a rate previously unseen, “there is no way we can walk backwards.” And as the new construction law enters force in the coming years, this progression seems assured.

The strong growth in the economy has largely coincided with the construction boom in Phnom Penh and all over Cambodia. However, a recent trend that is symptomatic of the burgeoning amount of construction across Cambodia is the increase in house and business break-ins proximate to construction sites, said John Muller, Managing Director of Global Security Solutions (GSS) Cambodia. Although statistics are hard to come by, Muller, a security professional with almost 30 years of experience in South East Asia, and who follows this issue closely has noted a rise around construction sites where workers have ample time to survey the movements of occupants, determine their wealth and assess easy access points. He also noted that recently there have been various cases of increasingly bold break-ins where people are entering while occupants sleep and even entering bedrooms to take high value items. In order to mitigate this risk, says Muller, those living or working near construction zones should assess the most vital areas of their home or business, and secure those areas. “Your most vital areas are always the areas where there are people, first and foremost, and, secondly, the areas where you keep your most valued property,” he said. Always try to have only one point of entry to your home or business, recommends Muller, as keys are extremely easy to copy in Cambodia and locks are easy to break. House help and private security guards always represent a certain level of human risk as they assume positions of trust, yet may not attain a high enough salary to resist opportunistic theft or collusion with outside interests. Therefore, for those with the means, non-key personalized entry systems will avoid these risks, such as fingerprint or retina scanning systems and cameras on main entry points. Outside your property, trees on the borders of the property can act like ladders and cover for anyone hiding on the outskirts of the property. Lighting should be considered and sodium yellow lighting casts a shadow better than any other outdoor lighting, making intruders more obvious to you, your dog and any motion detecting alarms. Motion detectors are recommended outside the home or business, says Muller, connected to a siren alarm. However, if you have a large outdoor area, maybe a commercial property, motion detectors and cameras may be too expensive to monitor the whole area – in which case a dog and/or a professional guard may be the best option. Cameras are always recommended for the outside of your house and the main roadways because it offers a basic deterrent, regardless of whether or not they are functioning. If you have a camera outside, potential intruders see your house as a hardened target, comments Muller, and assume you have other security measures inside. Andre de Jong, Managing Director of Robert Bosch (Cambodia) Co., Ltd., suggests this increased risk of break-ins should really be mitigated by the building developer in charge of the construction crew – who has a duty to ensure on site security measures during the construction stage of the development. By installing cameras on the construction site borders, the property developer can deter construction workers from entering neighboring properties at all times. Furthermore, once the developer invests in such security equipment, this is not wasted capital whatsoever – as these systems can be transferred from the perimeter of the site into the new development once construction is complete. Such construction site security standards are standard policy for many international developments currently underway in Cambodia. However, it is not yet enforced in Cambodian building codes and legislation–something that de Jong hopes to see change in upcoming construction law policy reviews.

The Sihanoukville real estate market offers great variety to property seekers, Cambodia’s foremost beach-side resort destination. Take a look at Realestate.com.kh's range of seaside properties on the Sihanoukville real estate market, perfect for launching tourism ventures or securing the beach front view of you and your family’s dreams. Check out the latest breed of luxury condominiums shooting up in the Sihanoukville real estate market, serviced apartments and opulent french inspired villas located in the central city; or, if your budget’s a bit smaller, the host of affordable apartments, flats and borey houses outside of the inner-city are plentiful on the Sihanoukville real estate market. If you are looking for prime retail space on the Sihanoukville real estate market, industrial property or serviced offices for your business, Sihanoukville has a growing number of offerings and more and more new developments are appearing every day. The proximity of the city to the Sihanoukville deep sea port is attracting industrial investors and manufacturers at a rate previously unseen. The city is compact and manageable for a first time buyer, with very encouraging rules for foreign investors. Commercial Property on the Sihanoukville Real Estate Market: As Cambodia’s only port city, industry is booming in Sihanoukville of late as companies increasingly choose to open processing, manufacturing and assembly operations as near as possible to the deep sea port in order to ease costs of import and export. The labour market in Sihanoukville is also cheaper than in Phnom Penh, and supposedly easier to retain. This sector will only expand as the port is set to increase its capacity hugely by 2020. Offshore oil also exists in Sihanoukville. Read more about that here.Resort/Retail Properties on the Sihanoukville Real Estate Market: The islands off the coast of Sihanoukville are being sold to large scale resort developers, and a number of luxury hoteliers are also being granted exclusive property rights to large stretches of Sihanoukville’s beaches. These rights are being awarded despite often being already occupied by smaller hospitalities operators and local residents. What this means for real estate investors in these tourism hot spots is that you should be especially careful purchasing beachside or island property in Sihanoukville, as any new beach or island based business or home appears unable to totally guarantee their land title. There is apparently a risk that that land could be sold again without your consent, or possibly even an appropriate payout, as a number of occupants and vendors have already experienced in the last ten years. One way to protect against this risk is to always ensure due diligence when checking the legitimacy of titles and/or lease agreements when investing in these popular areas, or, alternatively, prospective Sihanoukville retailers can branch away from the beach hot spots where property titles are more dependable. Office Space on the Sihanoukville Real Estate Market: Serviced offices hardly exist in the Sihanoukville real estate market, such as the type available in Phnom Penh. Villas are widely available for low prices, however, and easily converted to business purposes.  Standards of building quality and connected utilities and infrastructure vary hugely across the Sihanoukville real estate market, particularly with older buildings such as villas. So before renting or purchasing any property make sure it meets all of your necessary infrastructural criteria. Read more about that here.Residential Property on the Sihanoukville Real Estate Market: There are a variety of apartments for rent in the Sihanoukville real estate market, available for short or long term leases, or purchase. Recently, some new, high-end condominium developments are also appearing. This means opportunities now exist for foreigners to own property in Sihanoukville. There are a various array of grounded houses/villas for rent in Sihanoukville also. Location will influence the rental or purchase price dramatically, as high property prices continue to rise around tourism and industrial epicenters of the Sihanoukville real estate market.

Sihanoukville is Cambodia’s only seaport, a crucial import/export hub for the massive garment and agriculture industries - and, simultaneously, a tropical holiday resort destination on Cambodia's southern coast. Due to these two features, Sihanoukville city is growing rapidly and is an increasingly important Cambodian economic center. The Sihanoukville real estate market is diversifying fast too. Thankfully, in contrast to the neighboring beach/port areas in Thailand and Vietnam, Sihanoukville does not suffer from the threat of major flooding, typhoons, tsunamis or earthquakes. Even during the rainy season, the coast of Sihanoukville happily hosts guests. This is certainly a positive thing for the Sihanoukville real estate market. Although tourism has increased rapidly over the past years, the beaches of Sihanoukville remain some of the most unspoiled and picturesque in all of mainland Southeast Asia. Major improvements are also being made to Sihanoukville's airport currently, and plans are supposedly in place to build an international airport on the island of Koh Rong in future. Tourism in the province is expected to see a large boost in coming years, and the Siem Reap real estate market is certainly reflecting this. Tourism clearly defines certain sectors of the Sihanoukville real estate market, and land prices directly reflect this in tourism hot spots around the city, and along the coast.However, because Sihanoukville has been developed as a tourism destination in a relatively short space of time. What was once a city defined by scattered bungalows - and very little else - is quickly being replaced by high-end resorts and beachfront condo developments, casinos, world-class golf courses and monopolized mass tourism networks. These dramatic changes are not-surprisingly putting pressure on amenities such as water and electricity throughout the city of Sihanoukville, especially near the largest new developments. Nevertheless, power cuts and water shortages are much less frequent in Sihanoukville than smaller, less-developed tourist destinations such as Kep, Kampot or even Battambang. Keep these infrastructural considerations in mind as you choose which part of the Sihanoukville real estate market you wish to buy property in. For those businesses and individuals wishing to ensure consistently stable electricity, backup generators are a common sight in Sihanoukville. They are a cheap and dependable option. This is standard practice for the majority of major hotels, resorts and restaurants in Sihanoukville. Renewable electricity solutions are also increasingly available throughout Cambodia, especially in regards to wind and solar power. Renewable power solutions can be bought and installed at very competitive prices in Cambodia, and offer significant financial rewards in the longer-term - as they lessen dependence on the grid. Water is predominantly city-sourced in Sihanoukville city. For property owners this might mean the occasional shortage can occur in Sihanoukville. Drilling a deep well is an option chosen by many with high water demands in Sihanoukville; yet, keep in mind that water may still require proper filtration once pumped. Alternatively, and considerably more inexpensively, water banks are a solution recommended by many Sihanoukville property owners with high, or consistent, water demands. Cambodia's only deep-sea port is located in Sihanoukville. Plans have recently been announced to increase the capacity of this port through sand dredging. Sihanoukville deep sea port can currently only host “feeder” vessels. What this means, is that any long haul sea freight being imported or exported from Sihanoukville must first connect to larger “mother” vessels at deeper-water regional ports, such as the hub ports of Hong Kong or Singapore. Only after transferring freight cargo from feeder vessels to these mother vessels can it then depart to final destinations in the US or Europe; or, in the case of import freight, landing in Cambodia at the Sihanoukville port. When this port expansion is completed in 2020, mother vessels will be able to dock at the Sihanoukville port. This will mean costs for importers and exporters operating from within Cambodia will be significantly reduced, as will the time it takes to reach final destinations worldwide. Significant reserves of offshore oil have been prospected near Sihanoukville and are currently being sold by the Cambodian Government to various international extraction companies. Because to these potential resources, a considerable amount of international aid has been poured into Sihanoukville to improve the infrastructure of the province so far. No doubt, in the future, as the oil is sold and extracted, the city’s infrastructure will develop hugely. Now might just be the perfect time to stake your claim in the Sihanoukville real estate market before prices soar in future - so you had better get there fast...

While appraisals are generally performed by skilled professionals, anyone involved in a real estate transaction can benefit from gaining a basic understanding of the different methods of valuation.When you use professional and independent property valuation services, you get a properly estimated value of your property.Read news about changes coming for the Cambodian Valuation industry HereMaking an investment in property is only an attractive option because you assume you will gain good returns from it in the future. However, to see the value of that property rise, you must make sure it is valued corrected, and by a trusted appraiser whose valuation will be widely respected. Accurate real estate valuation is important to mortgage lenders, investors, insurers, tax collectors and buyers and sellers of real property. Valuation services are available for different types of property and are not restricted to residential property. You can find them available for offices retail outlets, industrial estates, hotels, and any other real property. For most people, determining the asking or purchase price of a property is the most useful application of real estate valuation.How is a Property Valued?The property valuation report includes all features of the property and helps you, the owner, and prospective buyers, to understand its exact current condition.The goal of an appraisal is to determine a property's market value: the most probable price that the property will bring in a competitive and open market.An estimation of your property’s current worth or “market value” should consider any prior valuations of your property, suburb valuation trends, owner information, selling history, transfer history and comparable sales in the area.The property valuation gives an estimated market value of a property which is determined using various property industry sources, such as information from the relevant Cadastral office where the property’s title was certified, recent sales statistics, property specific details and relevant price trends.Unlike many consumer goods that are quickly used, the benefits of real property are generally realized over a longer period of time. Therefore, an estimate of a property's value must take into consideration economic and social trends over time, as well as governmental controls or regulations and environmental conditions that may influence that value.A Professional Valuation will, therefore, consider:Demand for that property - the desire or need for ownership supported by the financial means within the market to satisfy the desire;Utility of that property - the ability of your property to satisfy future owners' desires and needs;Scarcity - the finite supply of competing properties of a similar type and description; and -Transferability - the ease with which ownership rights over your property are transferred.Want to learn more about how a valuation can benefit you? Learn more and get a valuation today - right here on Realestate.com.khA comprehensive and respected valuation report will serve you in many ways. Here are just a few:Selling your Property: If you want to sell your property and need to find out the appropriate price, using the services of a property valuator is the best choiceBuying Property: When you are interested in buying new property and need to make a pre-purchase assessment of it, you can find all the information that you need by taking up the services of a property appraiser.Tax Compliance: In case of a matter related to tax payment, a valuation of the property by property valuators is necessary to determine tax liabilities fairly and openly.Assessing Rental Rates: In a situation where you wish to lease out your property and need to set an appropriate rental cost based on the qualities of your property, a property valuation service will be useful in determining the amount based on your property’s value.Legal Settlements: For settlement of property rights between members of the family, matrimonial settlements, litigation settlements, etc. you need to know the appropriate value of the property in order to divide it fairly.Mortgages and Loans: In order to borrow money from the bank, you need to provide information of your real assets by which you can guarantee the loan. A good valuation will help guarantee your next loan or Mortgage.Insurance: When you have to get the value of your property for the purpose of insurance cover and claims, nothing can get the matter through faster than hiring the services of professional property appraisers.Increasing the Value of your Property: By understanding how your properties market value increases according to the criteria of the valuation report, you can upgrade features of the property to increase that value in time for the next valuation. A valuation report allows you to objectively analyze your property, and any business ventures attached to that property, and improve its market value.Ready to find a property valuation expert? Look no further! Through Realestate.com.kh’s “Valuation” page, we can put you in touch with a professional property appraiser near you, suitable to your property valuation requirements. Get advice on a Professional Property Valuation HERE.

Selling or renting a property that you own is unlike any other financial transaction you will undertake in life; after all, most people’s biggest asset is their home. For this reason, selecting a Cambodian real estate agent is a major decision.Locating the best person to manage the sale or rental of your home or investment property, is crucial to obtaining the best price for your real estate investment in Cambodia. The real estate market in Cambodia is largely unregulated and, therefore, it is critical to make a good judgment of your Cambodian real estate agent.This is the Realestate.com.kh guide to help you select a Cambodian Real Estate agent that is right for you.What are some great skills an estate agent should have?But before we jump into the detail of sourcing, interviewing and assessing the performance of your Cambodian real estate agent, it’s important to know what traits a great real estate agent should have:An ability to meet expectations at each stage of the sale or rental process.An understanding of Cambodian property titles, and the laws & taxes, as well as common practice within these domains.The agent exhibits interest in meeting or exceeding your expectations.Positive referrals from former clients (consider social media, blogs, friends and family).Thorough knowledge of similar properties for sale or rent in your relevant market (this is especially important in the big cities of Phnom Penh, Siem Reap and Sihanoukville).Being prepared to be open and frank regarding the prospects of achieving your goals to rent or sell the property.How to find a Cambodian real estate agent:The Cambodian real estate industry is generally subject to few local laws. This means there are thousands of individual people who call themselves agents. This can make it extremely difficult to find a professional real estate agent, especially outside of the major cities of Phnom Penh, Siem Reap and Sihanoukville.The first place you might look at is the Cambodian Real Estate Agent Directory at Realestate.com.kh. Use the "Find an Agent" section to generate a shortlist, after which you should interview the agency (see our tips below), review feedback from former clients in blogs, Facebook, Twitter and other external publication online.If there are recommendations from former clients it is a good sign that the agent is reputable. From there, book an appointment with the agent. Generally, Cambodian real estate agents will suggest making an appointment at the property location. This is common as it enables them to perform an appraisal on the spot.Indicators that suggest the agent/agency is professional:The following are good indicators that the agency or agent you are considering dealing with is professional and committed to a high standard of ethics: Operating a trust fund: Trust funds are a great sign that the agency is serious about their business and protecting their client’s interests.Works from an office: Agencies who have premises with multiple staff are usually credible businesses.Has a website/conducts marketing: Agencies who have websites, conduct newspaper and online advertising and generally have good marketing are ordinarily serious businesses with a commitment to their profession.The Interview process: The interview process should be one of investigation to ensure the agent is a good fit for you. Here is a list of questions to ask the prospective agent during the initial meeting / real estate appraisal: How many years has the company/person been involved in the real estate industry in Cambodia?How many sales/rentals have they completed in the last year?The number of properties that are currently listed for sale/rent on their books?The number of prospective buyers/tenants they are in contact with?The preliminary estimate of your property listing in the current market, and the formula that they used to arrive at this figure?Proposed marketing strategy for the property (for example online, newspaper, an email database, events)? The most important question of all those above is the anticipated sale/rental price of your property. Ideally you will have also conducted your own research and have some notion of the price you expect to achieve based on other similar properties in your neighborhood. Experienced Cambodian real estate agents will provide an appraisal roughly in line with your research. In addition, highly professional real estate agents will also generally respond to your requests and provide a marketing proposal in writing following the interview. Making the Decision:Once you have reviewed your options and decided on the person who you believe will do a great job in handling the sale or rental of your home, you need to enter into a formal agreement. The written agreement will clearly outline the terms and conditions of appointing the real estate agent. It should contain an estimated sale or rental price, the total commission payable (in Riel or US Dollar terms), fees and charges, and marketing expenses. Assessing the performance of your real estate agent in Cambodia: So you’ve selected a great real estate agent and have the sale or rental process moving along; how do you know whether your agent is doing a good job? Here’s a checklist of things the agent should do, and if they aren’t doing these things, you might like to consider appointing somebody else: Provide you with regular updates regarding the number of buyers and tenants they have been in contact with (maybe agree beforehand on the best form of communication- email, apps such as WhatsApp/Telegram, phone calls etc)Have a screening process to determine a tenant or buyer’s suitability for the property (for example reference checks, confirmation of their job etc.).Ongoing marketing advice regarding the number of inquiries your property is receiving and how to increase its appeal to renters/buyers (for example, conducting advertising, furnishing the property etc.).Competently handle the negotiations of the monthly rental or the sale price of your property. This is probably the most important job of a real estate agent and a good real estate agent will be an expert negotiator.Demonstrate experience at handling the legal and financial process of managing the rental property and/or conducting the sale.Ready to start your search for the perfect Cambodian Real Estate Agent for you? Check out our Agent Directory now!

As the SEZ concept evolves in Cambodia, a variety of zones have emerged, each with differing characteristics and aims. In 2005, after special economic zones (SEZs) were formally introduced in Cambodia through the Sub Decree, Svay Reing’s Manhattan SEZ became the first to began construction the same year. The Sihanoukville SEZ remains Cambodia’s largest with over 1,000 hectares in the area. The $320 million development is said to be capable of hosting 300 factories, offering about 80,000 jobs. As the SEZ concept evolves in Cambodia, a variety of zones have emerged, each with differing characteristics and aims. Currently, around 30 approved SEZs in Cambodia have been authorized by the Cambodia Special Economic Zone Board (CSEZB), which operates under the umbrella of the Council for the Development of Cambodia (CDC). However, while many organizations have obtained SEZ licenses, there is a limited number of SEZs actually operating. “Overall, an SEZ is a safe place for FDI because the conditions are found to be stable, safe and have less inherent investment and direct operational risk as opposed to locating outside of an SEZ,” said Charles Esterhoy, COO of Phnom Penh Special Economic Zone (PPSEZ). [caption id="attachment_77479" align="aligncenter" width="300"] Vireak Mai, Phnom Penh Post[/caption] SEZs are generally able to save foreign investors from investing extra funds in land development, infrastructure, security and ongoing maintenance. With a Qualified Investment Project (QIP) license, SEZ tenants will receive tax exemptions on production materials and equipment depending on whether they are in an export or domestic industry. Set period Profit tax exemptions are also available. SEZs can also offer up to 50 years of renewable leases to foreign investors, often allowing them to develop, subdivide or sublease the property. Meanwhile, Cambodian companies can purchase the land outright for development. While property prices in the Phnom Penh CBD and other developing industrial areas are heating up, prices at SEZs generally only see increases based on the costs of operations and the growth plans of that specific SEZ. Comparing prices across SEZs within Cambodia is, therefore, difficult - as each location is unique in what it provides investors and its overall business model. Cambodia currently has some of the highest costs of shipping and slowest freight speeds in the ASEAN region. Efficient import and export of materials and goods into/out of Special Economic zones is, therefore, a vital aspect of their operations for prospective FDI. One such example has been the recent implementation of the ASYCUDA system at PPSEZ, according to Esterhoy, which allows “brokers to process shipments on-line and with much more efficiency.” Oknha Sear Rithy, board of director for Kerry Worldbridge Logistics Ltd., likewise stressed the need to provide efficient logistic solutions in order to increase FDI in Cambodia. The Kerry Worldbridge Special Economic Zone (KWB SEZ), which opened in Dangkao last week, will be able to provide huge regional reach and efficiency in terms of supply-chain logistics, as the zone draws on Hong Kong-listed Kerry Logistics Network Limited’s vast experience in this field, inside and outside of Cambodia. [caption id="attachment_77480" align="aligncenter" width="300"] Vireak Mai, Phnom Penh Post[/caption] Cambodia also has some of the highest electricity prices in the region. This means, SEZs focus on reducing costs of electricity within the zone and guaranteeing its consistency, two factors especially important for manufacturers relocating to Cambodia. PPSEZ have partnered with Colben Energy to provide efficient electrical power distribution and stable backup power inside PPSEZ for this reason. Meanwhile, Oknha Sear Rithy said that KWB SEZ is currently speaking with renewable energy providers regarding plans to bring green energy solutions to the newly- bonded industrial zone. These energy solutions are potentially cheaper than the Cambodian grid can currently offer, and provide for FDI conscious of their environmental footprint. SEZs are assisting in the diversification of Cambodian export industries and have a close relationship with the Government - but are fully backed by private capital. This makes the application of new and innovative industrial policies particularly easy in SEZs, many acting as testing zones for wider policy initiatives. As per the 2005 Sub Decree that first instated SEZs in Cambodia, all Cambodian SEZs must employ a majority local work force. Although foreign managers, technicians and experts may be hired, the foreign staff should not exceed 10% of the total workforce. Zone developers often work with the Ministry of Labour to conduct vocational training to promote new skills and knowledge throughout the workforce. Potential investors in the semi-high tech manufacturing sector often worry that they may face a skills-gap when they move into the Cambodian labour market, one which is still principally engaged in lower-skilled manufacturing sectors such as garments and agriculture. However, SEZs are increasingly offering integrated vocational training facilities within their SEZs, supported by the Government, to ensure their staff can meet the demands of new and higher-skilled industrial developments being brought to the country through FDI. “These sectors,” sais Esterhoy, “create new opportunities, new skills and illustrate the potential of the Cambodian work force.” Both Esterhoy and Oknha Sear Rithy are seeing a consistent stream of interest from many specialized and semi-high tech manufacturing sectors who are seeking not only a stable manufacturing environment but also a stable business environment. Cambodian SEZs can apparently offer this.

If you’re planning to sell or rent your property, make sure you avoid the following property sale mistakes to ensure you attract the most buyers and renters and get the best price for your property. Dirty and smelly digsYour house needs to be cleaner than it’s ever been while it’s for sale. When making the decision to sell your property, get help from family, friends - or professional cleaners if need be. Pay special attention to bathrooms, kitchens, general living areas and backyards. No dishes or messy kitchens. Clean and fresh is the best smell when selling. Regardless of how great your home appears, if visitors are immediately confronted with overwhelming or unpleasant odours when entering a home, the likelihood that a sale takes place is extremely slim.Don’t list POA – Or No Sale PricePotential buyers generally read the home’s description and expect to see a listed price. As such, we strongly recommend that you include a price on any listing. If a home features a long list of unique details but lacks a sales price, buyers tend to think the home is very expensive or potentially overpriced. Make it easy for someone to investigate your home further by providing as many details as possible – including a list price.Nobody likes a reluctant sellerIt is not unusual for an individual or a family to become attached to a home. Especially when the residence is filled with great memories. However, once you make the decision to sell, you must keep the objective of a sale in the forefront of your mind. Try your best to keep emotions in check. Step back, and allow your real estate agent the freedom to perform their job.Lousy AgentGiven that real estate is an unregulated profession in Cambodia, you undertake thorough research before choosing an agent to sell your home. You can start you research on our Realestate.com.kh Real Estate Agent Directory Page. Consider if an agent makes themselves readily available to buyers. Agents who seem to rush clients, or seem distracted, do not have the interest of the buyer or seller at the forefront. Likewise, determine if the agent seems professional, honest and genuinely desires to make a sale. A dud agent could well be your number one property sale mistake, but with Realestate.com.kh this will never be an issue!Missed part 1? Get on Realestate.com.kh today, the best source of information for property buyers & sellers in Cambodia - and almost 50,000 property listings to search through.