Total value of Cambodia's new construction projects approved by the Government increased by 33 percent in 2015. This brought new construction to a total value of approximately $3.33 billion for the year, as compared to 2014, according to a recent Cambodian Daily report based on documents received from the Government. The report suggests that 2,305 projects were approved by the Ministry of Land Management, Urban Planning and Construction. And these projects will ultimately cover a construction area of around 7.7 million msq! Condo supply is naturally booming too. Check out CBRE's latest findings!

2016 has now arrived, and as the New Year comes you might be turning your attention to your long-ignored mortgage.  Although no one likes to think about their mortgage repayments, you need to analyze it regularly if you want to find ways to make your repayments more effective and move yourself closer to financial independence. Missed Mortgage Matters Part 1 or Part 2? Read them first!With that in mind, bring in the New Year with these 5 handy ideas from realestate.com.kh to speed up your loan repayments, and work towards a financially free future!1. Don’t automatically decrease your repayments just because the interest rates falls: For many loaners, as soon as bank fees and interest rates decrease, and minimum repayments are lowered accordingly, this immediately means a happy camper - with more money in the pocket and less for the bank. However, this is short sighted. Instead of pocketing the cash, if you keep your repayments at the same level when the interest rates are falling - because this is a prime opportunity to reduce your principle with each payment and make faster progress satisfying your total loan in the longer-term. As opposed to seeing it as a time to relax your repayments – this year you should see it as an opportunity to get ahead of the bank and pay back your principle faster. 2. Test out an “Offset Account”: If it is possible for your loan, try using an offset account. A mortgage offset account is directly connected to your mortgage and the payable interest on your mortgage month to month will be calculated by deducting what funds exist in your offset account against your loan. To clarify, here’s an example: if your total mortgage is $200,000 and your offset account currently has $5,000 in it, you will only pay interest on the remaining $195,000. An offset account allows you to save interest while still allowing access to your savings if needed. For investors, offset accounts are also useful for the preservation of mortgage tax deductible benefits. 3. Refinance and get a better run for your money: Maybe you have worked out that your current mortgage is not suitable to your needs and financial circumstances now that 2016 has dawned. If this is the case, you need to change your loan quickly before it seriously hurts you. If you are not sure your current mortgage is right for you, it is best to consult a professional finance broker before it is too late. A well-attuned broker will negotiate with your lender about fees for additional repayments, refinancing, or any other necessary measures to help you save on your loan. A good broker should identify the perfect terms for you and then negotiate the best rates for that plan. Get in touch with Cambodia’s leading lenders today!4. Make smaller mortgage repayments, more regularly: If you make more payments, naturally these payments will be smaller. But more regular payments, even if they are smaller, will mean ultimately you can pay off your loan faster because you will lessen your interest repayments in the long term. If you currently repay your mortgage on a monthly basis, try changing to fortnightly loan repayments. Now, your monthly mortgage repayments might equal $2000 per month, for example. If you can instead pay $1000 every two weeks, by the end of 2016 you would have made significant savings on your interest costs, and will be a little bit closer to satisfying your overall loan repayment. 5. Take measures to pay back a little bit more each time: Remember, your “minimum repayment” is exactly that: it is the least possible amount you need to repay each month. So, for most mortgages there in nothing stopping you from paying more than the minimum necessary payment. And it doesn’t matter if you pay extra regularly, just when you can afford to now and again is still worthwhile. Even a little bit here and there can add up and eventually reduce your mortgage. When you receive bonuses, tax returns or other monetary gifts you should seriously consider putting this expendable income into your mortgage repayments before it disappears into thin air. Read more about home loans on realestate.com.kh today. Missed Mortgage Matters Part 1 or Part 2? Read them first!

CBRE’s third quarter 2015 Condominium Report, currently unreleased, details eight new projects that have been officially launched in Q3 2015, compared to four in Q2, according to recent reports from the Post Property. Ultimately, this equals an additional supply of 10,000 condo units, which demonstrates a 435 per cent increase since the preceding quarter.The report states that "as of 2018, the number of condominium units in Phnom Penh would increase to almost 20,000 units, an increase of 915 per cent compared to the number in 2015." The report follows on to say that 1/3 of these units would reflect high-end properties, and approximately 1/2 are mid-range quality.  The report states that average condo prices per square meter for mass-market are $1,500psm, mid-range sits at $2,250psm; and high-end units are average $2,900psm. Learn more about the strata title process for condo purchase here. The report also says that “roughly 40 per cent of condominium owners are Cambodian”. Yet the report suggests that the vast majority of Cambodian buyers hope to “speculate or rent out”, rather than to live in the finished condo units. Learn more about Cambodian land titles, strata title transfers and foreign ownership regulation on Realestate.com.kh today!

Realestate.com.kh is proud to sponsor and support the Global Alumni Convention (GAC) 2016.The Global Alumni Convention (GAC) is organized by IDP Education to bring together graduates from Cambodia, Australia, the USA, Canada, the United Kingdom, New Zealand, France, Russia, Korea, Japan, China, Malaysia, Singapore and other countries and give them a forum to meet, share ideas and network with experts, decision makers and leaders from governments, the private sector, and civil society for education, trade and investment opportunities.AIMS OF THE CONVENTION: The convention is designed around the themes of reconnecting with learning, knowledge-sharing, and being inspired to fulfil education, professional, and business potential. Organizers anticipate attendance by more than 500 alumni, professionals, experts and leaders from the public and private sector. The objectives of the GAC 2016:To learn about the pathways and successes that alumni from these countries have achieved.To showcase world class education systems and opportunities.To gain insights into Cambodia’s position in the world.To enhance friendship and cooperation within Cambodia and internationally.Who will attend the convention? The Global Alumni Convention is a high-profile event with 500 anticipated attendees being: Graduates from around the globe.Leaders from Governments and Embassies.Directors, CEOs and Senior Executives from business and civil society.Professionals, specialists, and experts from diverse industries.Cambodians and non-Cambodians.When and where will the convention be held? On the evening of Friday 29 and all day on 30 January 2016 at InterContinental Phnom Penh, Cambodia. Convention Format: The format of the panel discussions will be four panellists plus a moderator with an interactive Q+A. The convention will be in two parts – the Business & Education Networking Reception on the evening of 29  January  2016  coupled  with  the  Main  Convention  on  30  January  2016  and  concluding  with  the Convention  Cocktail  Reception. The  Business  &  Education  Networking  Reception  will  be  a  networking dinner  with  leaders  from  the  government,  embassies,  the  private  sector  and  civil  society. The  Main Convention  will  consist  of  a  series  of  moderated  panel  discussions  with  topics  being  on  Cambodia-related  issues  and  will  be  given  by  leading  figures  from  the  business  community,  the  public  sector, relevant industry figures and alumni themselves. GAC  VIPs: GAC 2016 will be honoured with a welcome address by HE Sun Chanthol, Senior Minister and Minister of Commerce on the evening of the 29th, and the official opening address by HE Dr Hang Chuon  Naron, Minister of Education Youth and Sport in the morning of the 30th January, 2016. REGISTRATION FEES: Early Registration – 01 Oct – 30 Nov 2015 (US$ 70)Standard Registration – 01 – 30 Dec 2015 (US$ 80)Late Registration – 01 – 28 Jan 2016 (US$ 90)Walk-in Registration – 29 – 30 Jan 2016 (US$ 100)To register, please go to www.cambodiaGA.org  ; For more information, please contact GAC Secretariat Office at gac@idp.com or 023 222 064.

Most people’s attention span lasts between 5 and 10 seconds… For those involved in marketing, and especially digital marketing, this means that you need to work extremely efficiently if you want to engage the right customers at the right place and the right time, and share with them a message that they will actually take on board. Don't forget to read part 1 first! Read it here.Because online marketing is our full time job here at Realestate.com.kh, we would like to share a few tips to get the most benefit from your various online marketing channels – and ultimately, sell and rent more property through the internet.  Online marketing with your own Website: Your company website is home sweet home, no matter what business you are – but, remember, your website must reflect your underlying objectives if you want it to be successful. Don't forget to read part 1 first! Read it here. Of course, the layout and functionality will be totally different depending on the online marketing objectives. Your website might exist purely for branding purposes, in which case focus on the presentation. But if you intend to sell directly through your website as an ecommerce application, your design must focus on functionality and smoothly facilitating the sale, and after-sale support. Regardless of the intent of your website, it is crucial that it is easy to navigate, and the content is relevant and engaging to visitors. Want to learn how to use LinkedIn for real estate sales? Success metrics are always at hand to advise of the development of your website, whether it be considering generic goals such as overall revenue and conversions - or more specific analysis, for example building offsite referrals from social channels, or considering the best demographic targeting for your website. If you want a bigger audience to visit your website, the sole answer is content. Clear, engaging and consistent content is the only way to grow your website sustainably. Remember that longer term trends and analytics must be well-considered during any development of your website. A website is not like a short term marketing drive. Your website is here to stay for the life of your business. This means any changes you make should consider the present, but always look to the future. Why online marketing can help you test ideas quickly!Online marketing with your Email Database: Business people and individuals can receive hundreds of emails every week. Because of this flow of info, if your email online marketing is stale it will quite-simply fail because those emails will never see the light of day. Nearly all email database marketing has the same objectives: increasing click-through rates to your company websites; and reducing the number of contacts choosing to unsubscribe from your communications. Thus, to improve on returns from email online marketing, make sure you keep a clean and organized database – this will allow you to build trust with recipients and recognized email addresses. Increase your open rate with inviting email titles, and always test innovation. Throw in new elements such as video, interactive features and try to maintain a personal touch for your database members. Don't forget to read part 1 first! Read it here.Alternatively - Let us take care of your digital marketing and send you the sales inquiries. Realestate.com.kh can share it’s huge online audience with you. If you are an agent or developer, there is no easier way to improve your online sales conversions. Find out more today.

Most people’s attention span lasts between 5 and 10 seconds… For those involved in marketing, and especially digital marketing, this means that you need to work extremely efficiently if you want to engage the right customers at the right place and the right time, and share with them a message that they will actually take on board. Read part 1 already? Read part 2 here!Because online marketing is our full time job here at Realestate.com.kh, we would like to share a few tips to get the most benefit from your various online marketing channels – and ultimately, sell and rent more property through the internet.Online marketing with your Social Media Channels: No longer are the ultimate goals of social media likes, follows, and shares. Nowadays, social media marketing is a direct source of sales and represents great and highly affordable opportunities for marketers of all kinds. Of course, it is no secret that online companies like Facebook, Twitter, Pinterest and Instagram have developed their services to support company branding and sales. By simple testing, you can soon find our which social channels deliver you the best rate of conversions, click throughs and brand awareness. However, if you are situated in Cambodia, it is a safe bet that Facebook will come out number one - as the majority of the country’s 3.4 Million strong social media users taking first and foremost to Facebook. Surprisingly, some locals still understand Facebook and the Internet as a conjoined concept. Want to learn how to use LinkedIn for real estate sales?Online marketing with Search Engine Optimization (SEO): SEO is the least understood type of online marketing – but can be the most expensive and, for many online businesses, the most important. Basically, your company website is as useful as it is visited. If nobody can find your website, it is as useful as a 50 foot billboard behind a wall. SEO can be divided by on-page and offsite SEO. On-page relates to developing the navigation of your website so that all content is easily available to visitors. Offsite SEO is like casting a net – developing your offsite SEO will mean more people searching on leading search engines, such as google.com and its international network of sites, will find your site in their search results, and before they find your competitors… Be patient when developing your SEO as results will not come overnight. Remember, once again, there is no avoiding the need for content.  If you want a bigger audience to visit your website, and improve your website’s organic SEO, content is key – now, more than ever. Clear, engaging and consistent content is the key to growing your SEO sustainably. New search algorithms demand that top ranking pages must provide the user with content that engages them, and is unique and well referenced. If your post is about buying real estate in Chamkarmon, for example, it needs to be genuinely useful to your readers if it is ever going to rank well in SEO. The days are over when you can simply load articles with keywords and expect search results. Further, your keyword selection is crucial for a successful SEO strategy. You must clearly target your strategy to bid for the search key words most likely to bring revenue to your business. Don’t waste any time or money trying to win key words that will never convert. Also be wary about your competition.  If you see that another website has dominated certain key words for a long time, your chances of beating them are much lower, and will require far more effort in regards to content creation. Look for the low hanging fruit first, and the key words that will convert. Why online marketing can help you test ideas quickly!Online marketing with Paid Ads: Whether you are considering implementing search, display, or social ads into your online marketing strategy, always pay attention to conversion tracking and testing first and foremost. Otherwise, you are swinging in the dark! By using conversion tracking for paid advertising initiatives, you can immediately gauge which ads and keywords bring revenue with the highest return on your investment. Test and optimize all elements of the campaign until your success metrics start to show growth. The same rule applies whether you are interested in branding or conversions. Keep in mind; you will incur additional creative costs during this process if you want to do it right. It is important that you ensure your content and other visual media is in line with your audience, marketing strategy, and company image. Enjoyed the post so far?? Read part 2 here!Alternatively - Let us take care of your digital marketing and send you the sales inquiries. Realestate.com.kh can share it’s huge online audience with you. If you are an agent or developer, there is no easier way to improve your online sales conversions. Find out more today.

Last Friday, master plan of Phnom Penh until 2035 was fully approved by the council of ministers, as announced by Pa Socheatvong, governor of Phnom Penh. While it is claimed that the plan is complete, those in the private and public sector and other relevant stakeholders fear that they have not been adequately consulted, raising concerns that implementation is unlikely and unjust. Without a publicly available draft that addresses socio-economic conditions as well as infrastructure, zoning, land title rights and all other concerns that come with the development of a city, they say it is unclear as to what the master plan of Phnom Penh actually entails. Takashi Ito, Senior Representative of the Japan International Cooperation Agency (JICA) described the master plan as “a fruit of self-efforts by Phnom Penh municipality,” stating that JICA played no part in the current approved plan. Ito pointed out however, that JICA has submitted a master plan for transportation lines in March of this year, and is currently working on a master plan of Phnom Penh for a citywide sewage and drainage system. “We continue to be interested in healthy development of the capital city, which is why we have engaged in [these] two master plans,” Ito stated in an email. While Ito wouldn’t give Post Property an overview of the resources that are necessary to implement only a few crucial issues concerning city development, he admitted that without adequate resources, “it is not really practical to try to address all the problems,” he said. When it comes to meeting the demands of a burgeoning city and population, “it is, in a sense, a question of priority,” he said. To him, the success of a master plan hinges “not only on the degree of commitment of the municipality itself, but also on the degree of support and participation of other relevant governmental institutions, [possibly including] the private sector” and civil society. Piotr Sasin, country director for Czech NGO People in Need that focuses on spatial planning in Phnom Penh, called it “worrying that the plan has been developed in secrecy without the consultation of civil society groups.” He argues that city development is a complicated process that needs to be carefully coordinated to ensure implementation that properly addresses all issues. “We would appreciate if the municipality shared the plan with all shareholders so they can work on something that we will all be proud about. There are resources and the capacity to do this,” he said. Considering the sheer complexity of a master plan, Sasin admitted that “the majority of all master plans are never really implemented.” “It’s about the process, bringing the people together and it would be the job of the municipality to coordinate these efforts,” he said. Long Dimanche, spokesperson of City Hall, however, said that there have been specialists outside the municipality working on the master plan. “We have been working on this master plan since 2002 and had help from many groups of Cambodian professionals such as architectures, land management, landscaping, environmental, engineering, and [from the] cultural aspect and we had advice from French experts,” he said. According to Nicolas Baudouin, spokesperson for the French Embassy, French involvement in the city master plan ended with the publication of the 2007 White Paper, titled Livre Blanc. While the 330-page long master plan was published by Phnom Penh municipality, and outlined development until 2020, it was never adopted. “The project was considered complete with the publishing of the report and funding stopped. Why it wasn’t adopted, I don’t know,” Baudouin said. Even though French involvement stopped in 2007, governor Socheatvong cited 14 focus points that are identical to the ones listed back in 2007. While the 14 points are meant to address issues such as zoning, open spaces and land title issues, Socheatvong said that what contributed to the adoption of this version was spurred by economic growth, commerce and a rising population. “The main purpose of the 2035 Phnom Penh land usage is the strategic document in order to serve the government’s ambition as well as the aim of Phnom Penh municipality and their vision toward 2035 of managing and setting the direction of economic development… in an attempt to meet the increasing demand of private investment and the population in Phnom Penh,” he said. Dimanche added that he did not know when the overall master plan would be published publicly, despite last week’s approval. However, he said the government will issue a new order to properly implement the city development plan. Meng Bunnarith, spokesperson for the Ministry of Land Management, Urban Planning and Construction, said that while the framework that was adopted by the council of ministers is comprehensive, it only provides a general overview that does not give much insight to critical details. The ministry has to set specific regulations in order to ensure a clearer use of land, he said. Nevertheless, Sasin fears that a master plan can be used to further exclude marginalised groups. “My main fear is that it will be a plan for the privileged,” he said. As an example, he worries that poor urban communities who have been excluded from systematic land titling, such as the evictees in Borei Keila or in Boeung Kak, would still not be addressed. He added that City Hall’s lack of transparency opens the door for misjudgment and misinterpretation. “If they published the document and got other stakeholders involved they could really pass on a positive message to the city which would be: we care.” Julius Thiemann, Siv Meng and Moeun Nhean, Phnom Penh Post, Post Property.

International property consultancy, Savills, signed a contract earlier this month with Keystone Property Consultants to make the local firm the Cambodia-based associate of Savills.The move strengthens Savills’ presence in South East Asia, and increases Savills’ Asia Pacific presence to 58 operations across 17 countries in the region. Sunny Soo, Managing Director of Keystone, has been working in emerging real estate markets in Malaysia, China and Mongolia since 1997. He arrived in Cambodia in 2010 and continued in the same profession. Soo says, “The hardware of the Cambodian property market is upgrading quickly; in a very short space of time, the country has become host to a new breed of world class projects that will change the city skyline beyond recognition. The advancement of these developments also means the software must keep up, and this means more professional and holistic real estate consultancy is in demand.”Savills, with their Indochina representative in Vietnam, has been in close contact with developers in Cambodia for over a decade. Hence, the Cambodian extension, through the association with a local sought after consultancy, is only natural, says Soo.Neil MacGregor, Managing Director of Savills Vietnam, said, “Current international clients of Savills were seeking investment consultancy and other services within Cambodia and Indochina region. The association with Keystone though will allow us to leverage both parties’ expertise, will further strengthening Savills portfolio across this dynamic region.”Soo also commented that a considerable amount of current projects underway in the Cambodian real estate market currently may encounter difficulties in the future due to lack of necessary preparation and calculated foresight in planning. “We are wishful for the opportunity to serve the industry and hopefully in time the market will recognize and welcome us as a valued consultant”, he said.Presently in the development of business infrastructure, expect to see the physical launch of the Savills’ association - Keystone in early 2016.

Serviced apartments are the creme de la creme of the Phnom Penh, Siem Reap and Sihanoukville real estate sphere, and these luxury abodes include all amenities fit for a king, or queen.Serviced apartments are plentiful in Cambodia’s major cities, but prices are comparatively high and overall occupancy levels can be quite low. Serviced apartments are the number one choice for young professionals who want to live alone in the central city, close to work, and save time managing their home. They are also increasingly popular with families, who appreciate the privacy and quality of living in serviced apartment complexes. The supply of serviced apartments is only set to soar too - with a host of new options ready for occupancy in 2020 and beyond.What should I expect in my serviced apartments unit?When you start considering serviced apartments for rent, or possibly purchase, expect western style interior decoration, plenty of light and windows, views of the skyline, fully functioning kitchens - including ovens, clean and modern bathrooms, and expansive storage space and closets. What should I expect in the serviced apartments complex?Serviced apartment buildings will generally incorporate elevators, full security services (including a 24 hour guard, CCTV, intercom and possibly fire safety provisions), ample parking for cars and motos, fully equipped gym, and in most you can even find a swimming pool. When you live in a service apartment your landlord shouldn’t be hard to deal with - expect professional  and well-documented rental payment collection and fast feedback on requests for property maintenance. Make sure you get a good contract, here are a few tips!What should I expect in my serviced apartments amenities and services?In regards to services included in serviced apartment management fees, expect services such as house cleaning, laundry and drycleaning, fast and consistent internet, cable television, reliable water and a water heater for the shower and bath, and often serviced apartments also include full concierge service. The concierge will be able to help you navigate the city, book taxis and buses, and generally make sure everything is to your taste in your new home.  What's the price range for serviced apartments in Phnom Penh?Let’s compare service apartments vs. non-serviced apartments (prices based on Realestate.com.kh data):For serviced apartments:Lower = $600 – $800Middle = $800 – $1,400High = $1,500 ++For standalone apartments:Lower = $300 – $500Middle = $550 – $900High = $1,000 ++Check out over 200 serviced apartments for rent in Cambodia on Realestate.com.kh!

In the first half of 2015, serviced apartment supply bumped up 14 per cent versus 2014 - meanwhile, rental prices remained similar to the year prior as a host of new offerings entered the local market. CBRE Cambodia’s recent report highlights that a total 349 additional serviced apartment units will come online within the local marketplace before mid-2016. 5797 units presently exist, and 11 more condo projects are currently underway. Check out CBRE's listings on Realestate.com.khHowever, the supply appears to be overshooting the current demand. Want to learn more about serviced apartment expectations?Overall occupancy rates of serviced apartment units have declined from 90 percent to around 70 percent at the end of 2014. However, showing slight improvement, this occupancy across all serviced apartment units rate grew to 80 percent this year, according to the CBRE report. Check out a video interview about how to find the best expat rentals in Phnom Penh. According to the report, on average, for a serviced apartment unit, a one bedroom unit or studio with 50 to 55 square meters varies from $1,000 to $1,500, two bedroom units with 70 square meters varies from $2,000 to $2,500 and three bedroom units with 110 square meters varies from $3000 to $3,500 per month, while “penthouse”units with 250 square meters are priced between $4,000 to $5,000 per month, according to the report, depending on the architecture and design. Make sure you get a good contract, here are a few tips!Check out over 200 serviced apartments for rent in Cambodia on Realestate.com.kh

Upload you property for sale or rent on Realestate.com.kh before the end of 2015 and win an iPad! Free Upload, No Commission on Sale, Fast and Easy.Sell or rent your property online today, with realestate.com.kh.     If you need any help to upload your property, call us today: +855 017436756 - or email info@realestate.com.kh because we are always here to help. We can even upload your property for you - if you supply the necessary info and photos to our team.

Savills, one of the world's largest International real estate and property consultancies, and the largest agency in Vietnam,  has announced that they will soon enter the Cambodian real estate market.Savills will join the Kingdom's market through a partnership with Keystone Property Consultants in Cambodia, according to recent announcements. After Savills joins the Cambodian real estate market, their Asia Pacific presence will increase to 58 operations, across 17 countries in the Southeast Asian region. Phnom Penh based Keystone, is a leading investment and property consultancy in Cambodia. It's executive director, Mr Sunny Soo, was the preceding country manager for Knight Frank Cambodia. Sign up for real estate news updates with Realestate.com.kh to find out the latest developments in this story in the coming months.

Sihanoukville is becoming more than just a place to soak up the sun on a slow weekend; it’s attracting the interest of serious investors looking to cash-in on a growing middle class in the coastal city.Trade and tourism are the city’s biggest revenue generators and with growing numbers of tourists and business people who come to invest for condos in Sihanoukville, especially from China and the rest of Asia, property developers are looking for new opportunities to capture these growing markets.One of the upcoming properties set to make an impression of condos in Sihanoukville is D’Seaview, a 735-unit condominium to be located near Sokha Beach. The project is backed by Singaporean agribusiness company HLH Group Ltd under their newly formed Camhomes branch.  Through private subsidies, the company is marketing units as low as $33,000 for Cambodian citizens – but this subsidized investment opportunity is running out at the end of December 2015. Construction on the project is expected to begin later this year, with a completion date of 2018. New families, young professionals and other prospective buyers will have the chance to secure one of the beautifully appointed units on offer at D’Seaview available from as little as $675 per square metre. D’Seaview will boast state-of-the-art facilities including a swimming pool, a fitness centre and sauna, function rooms and a children’s playground, all catering to a modern family lifestyle and all with a view over the ocean. Real estate experts say major condominium projects such as D’Seaview will bring international standards to the city and draw more sophisticated investors. See full details of D'Seaview, condos in Sihanoukville here! Clement Dupont, a property market watcher and investor based in Sihanoukville, said D’Seaview will give the city a new image, one of luxury and liveability rather than just an affordable holiday destination. “This will make people realize that condos in Sihanoukville is a worthwhile place to invest money and attract homebuyers who are looking to live and work in a comfortable, classy environment, as the city’s economy grows from year to year.” “It’ll definitely be interesting to see how the property market pans out once D’Seaview is complete,” he added. In the first eight months of the year, Sihanoukville airport handled a total of 65,698 passengers, with total arrivals at 35,882, up 149 per cent and 140 per cent year-on-year, respectively. Lucky Air recently launched direct flights from Kunming to Sihanoukville, becoming the first Chinese carrier to offer year-round regular scheduled service to Sihanoukville. “Many Chinese have come here to invest and live and work,” said Y Thearin, a Sihanouk Provincial Hall representative. “Their investment in the city has become important to the way condos in Sihanoukville is moving forward,” he added. The Chinese influence is certainly becoming noticeable as Chinese-backed casinos and hotels multiply rapidly. One of the largest properties to open recently is the 135-room White Sand Palace, which will also feature a casino set to be open next month, in Occheuteal. The casino industry has doubled since last year to 15 casinos, with an additional five applications pending approval. Spurring this growth is the potential of online gambling which is being offered from the majority of Sihanoukville casinos, says the spokesperson Ministry of Economy and Finance, Ros Phirun. Paralleling Sihanoukville’s growth is its property market, with land prices going up fast especially in areas where infrastructure is being improved, says Ruslan Gronov, manager of Sihanoukvilla Real Estate and Consulting. “The new road that is being upgraded from Sokha to Independence beach is resulting in more land available for sale, while prices are also going up around Otres beach where the road joining National Road 4 and the airport are going up.” Gronov says the rental market for small residential properties has not changed much amid the city’s growth but rental prices for commercial properties and full buildings have gone up considerably since November last year as the hospitality industry thrives and Chinese business people living in the city push up demand. Here is another article considering the benefits of living and investing in Sihanoukville! Gronov said the lowest price for a one-bedroom apartment with a kitchen is around $250 per month, located in the downtown area away from the beach. For a similar property near the beach the price is around $100 more. “If you rent commercial and full building, the prices have changed a lot but for residential and small houses it’s the same.” “It is a good time to invest here in condos in Sihanoukville. Some areas are still growing and the price is growing fast.” Check out the investment opportunity here!Gronov added that the cheapest land prices are around $200 per square meter for land not close the beach, while some of the highest prices are in Otres and the Golden Lion, the city’s most prominent landmark just a short walk away from Occheuteal Beach where land can go for about $1,000 per square metre. Sihanoukville has maintained a crucial position in the country’s trade and manufacturing sectors and is set to capitalize on this as the government looks to construct a 190-kilometre-long, 25-metre-wide expressway linking Phnom Penh and Sihanoukville on National Road 4. This project is said to begin next year and finish in 2020. Sihanoukville is home to the country’s largest port and one of the largest special economic zones, but set to create competition is the development of the Stung Hav Port. LCH Investment Group acquired the more than one thousand hectare Stung Hav site in 2005 and began in 2007 constructing the site’s small port about 4 km from the entrance. The smaller port opened in July 2012 and handles general cargo but not containers. However as of January this year, American and Singaporean investors pledged investment that will result in construction of the port starting in January 2016. This will take approximately two years to build and once complete, hopes to attract the business of around 75 factories in the Sihanoukville Special Economic Zone who currently use the Sihanoukville port for shipping. Management says the first step will be to build the International port next year and then the economic zone, and hopes to offer more competitive prices to the main Sihanoukville Port and SEZ, which has around 75 mainly Chinese-owned factories who currently use the Sihanoukville port for shipping. Take a look at D'Seaview's convenient finance terms here.

As interest grows in the nascent Cambodia Securities Exchange amid announcements of new floats tentatively scheduled for 2016, real estate agencies push for approval to become panel valuers—the sole legal mediator to value property holdings while pursuing an IPO. Thus far, members of just six real estate agencies have been granted approval for IPO appraisals in Cambodia: V Trust Appraisal, Real Estate VMC Cambodia, CBRE Cambodia, Bonna Realty Group and the most recent entrant joining this month, Knight Frank Cambodia.Although activity on the Cambodia Securities Exchange (CSX) was initially slow, with the Phnom Penh Water Supply Authority listing in 2012 and Taiwanese-owned Grand Twins International listing in mid-2014, Ross Wheble, country manager for Knight Frank Cambodia, believes that 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,” he said. The recent announcement that Hong Kong-based property developers, Eastland Development, expressed interest in listing on the CSX follows a number of similar announcements by companies such as the Phnom Penh Special Economic Zone (PPSEZ), TY Fashion and Sihanoukville Autonomous Port. [caption id="attachment_79853" align="aligncenter" width="297"] Mr Kuy Vat, VTrust Appraisal Co., Ltd.[/caption] If Eastland’s promises come to fruition and other real estate developers follow suit, “this shall enable 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,” said Wheble. Regardless if a company like Eastland pursues a listing, a publicly traded entity would bring in the much needed transparency to a vague property market where financial capital and level of investment is often kept in the dark. But besides that, it would allow more investors to enter the market without having to put down the large sums to acquire property directly—and at lower risk. “Small investors will have a chance to invest in the property market,” says Kuy Vat, president VTrust Appraisal, meanwhile “the developer can mobilize more cash and spread the risk. Of course, the CSX will also receive a boost in public confidence with the announcement.” [caption id="attachment_78669" align="aligncenter" width="255"] Ross Wheble - Country Manager of Knight Frank Cambodia[/caption] Simon Griffiths, associate director at CBRE Cambodia, suggests that for property developers with an established and diverse portfolio, new projects in the pipeline, and a well-financed organisation, “risk is diversified and can be stabilized across sectors to some extent” by joining the stock exchange. While diversity is important, especially in the real estate and property developers market which often faces turbulence, “as we saw during the last global economic crash,” said Griffiths, a certain amount of risk will always remain. “Buyers of any stock would consider this and hedge their bets,” he said. However, if more property developers join the CSX, Griffith’s believes that it would allow for investors to capitalize on developments. It could also issue in the unique potential for Real Estate Investment Trusts (REITs)—a type of security that invests in real estate by combining property or mortgages, thus providing more liquidity and high dividend yields. While Kuy believes that there would certainly be an increase in liquidity, additionally, it would also provide a secondary market for investors who want to easily trade out of their investment. “This means adding more lubricant to transactions [across other] sectors,” he said. [caption id="attachment_79857" align="aligncenter" width="225"] Simon Griffiths, CBRE[/caption] But while it is highly debatable if foreign property developers are even considering listing, property valuation is an important step in the IPO process that requires companies to open their books and disclose their assets. “A company is required to have its real estate assets valued to determine its Net Asset Value (NAV),” explained Wheble. But with only six accredited panel valuers currently operating in Cambodia, Griffiths highlighted the high standards required to gain entrance into the club. A foreign agent has to be security checked in their home country and in Cambodia and academic and relevant valuation experience and qualifications need to be verified, he said. One such accreditor that can audit an agent or a real estate company that wishes to be a panel valuer, is the Royal Institute of Chartered Surveyors—a London based organization that values property worldwide. “[Royal Institute of Charted Surveyors] adheres to strict and internationally recognized valuations guidelines, practices and methodologies,” said Griffiths. For smaller, local real estate agencies, the demand for CSX valuations remains too small of a market to service, and with qualification thresholds currently out of reach. [caption id="attachment_79081" align="aligncenter" width="300"] Kim Heang. CVEA[/caption] “Until this stock exchange grows significantly,” Kim Heang, president for the CVEA, suggests, “local agents will continue to focus on [regular] property valuation.” “It is great to have more, and more professional, panel valuers in the industry - so that we can compete with professionalism and quality rather than on price,” said Kuy. However, “considering the market and volume of assignments currently available, the CSX valuations market for local agents likely won’t grow dramatically in the short term.”

In appreciation for all of your support of Prince Central Real Estate, you are all invited to join the grand opening gala of Prince Central Plaza on the 15th of December; starting at 7:45 am and going on all day into the evening! The event will be held at the Prince Central Plaza showroom, located at no. 168 National Embassy Street. SEE MAP HERE! The Prince Central Plaza Grand opening Gala will include: a full-scale Doraemon theme Exhibition, Lion dancing, a free buffet feast and special first buyers' specials - including, purchase one unit with a deposit of just $2000 and opportunities to win I-Phone 6s and thousands dollars. Find more information about the Prince Central Plaza project on Realestate.com.kh today.

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.