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Overview of districts in Phnom Penh
Overview of the Districts in Phnom Penh
June 7, 2022, 6:13 a.m.
Realestate News
Location Profiles
Phnom Penh is Cambodia’s capital city and is a growing metro situated where the Mekong, Tonle Sap and the Tonle Bassac rivers intersect. Phnom Penh has been the seat of power and primary economic hub in recent history. This has made the city grow to become the nation's center of economic, cultural, and political activity.According to the General Population Census 2019, Phnom Penh has a total population of 2,189,460 residents and population density of 3,136 residents per km2 across a central plain measuring 679 km2.Phnom Penh’s geography is largely defined by swathes of flatlands and the 3 rivers intersecting that provide inhabitants with water for both irrigation and transportation across the country. While its land size is comparatively small to its neighbours like Bangkok (~1,500 sqm) and Ho Chi Minh (~2,000 sqm), it does present investors the opportunity to capitalize on several of its fastest-growing industries, namely: construction & real estate, banking & finance, and manufacturing.Knowing about the city’s districts is a good way to gain an overview of the city. Here are a list of the districts (Khans) in Phnom Penh:7 Makara7 Makara or Prampir Makara (ខណ្ឌប្រាំពីរមករា) is one of the most central and smallest districts in Phnom Penh. Despite its size, its location puts properties here in an advantageous position of having access to every cardinal direction in Phnom Penh. Residential properties can easily be found here and commercial & retail properties are plenty given their proximity to other highly populated areas in Phnom Penh. The district is home to popular destinations such as the Orussey Market, Olympia Mall, and the National Olympic Stadium.Population: ~71,000 residentsYou can learn more about this area in our 7 Makara Location Profile.You can check out the property listings here if you’re interested!List of landed properties in 7 MakaraList of condos/apartments in 7 MakaraBoeung Keng KangBoeung Keng Kang (ខណ្ឌបឹងកេងកង) is a centrally located district in Phnom Penh. The district was once part of the larger Chamkarmon district until its formation in 2019. The district is largely known for its many residential, commercial, and retail destinations, embassies, and NGOs mostly found in Boeung Keng Kang I (BKK1). It is arguably one of the most urbanized areas in Phnom Penh that are still seeing strong interest among property seekers and developers alike. Some popular destinations include: The Toul Sleng Genocide Museum, Chip Mong Noro Mall, and the Wat Langka Buddhist Pagoda.Population: ~66,000 residentsYou can check out the property listings here if you’re interested!List of landed properties in Boeung Keng KangList of condos/apartments in Boeung Keng KangChamkarmonChamkarmon (ចំការមន) is arguably one of the most popular districts in Phnom Penh. Located in the south-central area of the city, its popularity with locals, expatriates, and tourists is derived from the quaint charms of the row of shophouses, restaurants, cafes, bars, galleries, and markets found in almost all its streets. The amount of for sale/rent properties also makes it a hot market among those looking to buy or sell. Some popular destinations in Chamkarmon include AEON Mall 1 (Tonle Bassac), the Russian Market, and its surrounding streets.Population: ~70,000 residentsYou can learn more about this area in our Chamkarmon Location Profile.You can check out the property listings here if you’re interested!List of landed properties in ChamkarmonList of condos/apartments in ChamkarmonChbar AmpovChbar Ampov (ខណ្ឌច្បារអំពៅ) is a peninsular district located in the southwestern part of Phnom Penh. The district is mainly accessible via the Preah Monivong Bridge. Chbar Ampov previously held a lot of unoccupied lands before Borey developers moved into the district. Today, Chbar Ampov’s vast lands put it at the precipice of massive developments from local conglomerates transforming the peninsula into a satellite city built around the pristine environment beauty that has made it a popular suburban living destination. Some popular destinations in Chbar Ampov include The Park Community Mall and the Prince Manor Resort.Population: ~164,000 residentsYou can learn more about this area in our Chbar Ampov Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Chbar AmpovList of condos/apartments in Chbar AmpovChroy ChangvarChroy Changvar (ខណ្ឌជ្រោយចង្វារ) is another rapidly developing area of the city and has seen a number of commercial & residential developments, restaurants and other major infrastructure projects transforming the formerly quiet area on the outskirts of the city to what is now eyed a prime real estate destination. The area is also earmarked for government offices as well as projects to support Cambodia’s participation in the international stage, namey: the SEA Games 2023, and the massive Dragon City concept coming soon. Some popular destinations in Chroy Changvar include: The Morodok Techo National Stadium, Garden City Water Park, and the Phnom Penh Safari.Population: ~159,000 residentsYou can learn more about this area in our Chroy Changvar Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Chroy ChangvarList of condos/apartments in Chroy ChangvarDangkaoDangkao (ខណ្ឌដង្កោ) is a district on the southern outskirts of Phnom Penh. While largely underdeveloped compared to other areas, Dangkao shares similar geographical features made up of flatlands connected by national road networks. At present, the majority of developments are boreys and garment factories.Population: ~160,000 residentsYou can learn more about this area in our Dangkao Location Profile.You can check out the property listings here if you’re interested!List of landed properties in DangkaoList of condos/apartments in DangkaoDaun PenhDaun Penh (ខណ្ឌដូនពេញ) is the de facto Central Business District in Phnom Penh. The district houses most of Phnom Penh’s skyscrapers along with its most historical buildings/monuments and luxurious hotels, restaurants, and other destinations for everyone living or visiting Phnom Penh. The importance of Daun Penh cannot be understated as tourism is first drawn here, shophouses are mostly for rent making the commercial space competitive fierce, and is where Phnom Penh’s nightlife is best experienced. Some of the popular destinations in Daun Penh include: The Riverside, The Royal Palace, and The National Museum of Cambodia.Population: ~155,000 residentsYou can learn more about this area in our Daun Penh Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Daun PenhList of condos/apartments in Daun PenhKamboulKamboul (ខណ្ឌកំបូល) is the western-most district of Phnom Penh. The district was formerly part of the surrounding province of Kandal until its integration into Phnom Penh back in 2019. Being a new area into the capital’s growing metro, the area is yet to see large-scale development in its residential and commercial properties.Population: ~~75,000 residentsMeancheyMeanchey (ខណ្ឌមានជ័យ) is a district located in the south of Phnom Penh. The district, much like other outer districts, was primarily home to Borey developers and garment factories. Today, the district is earmarked for major developments such as AEON Mall 3 (the biggest mall in Cambodia yet) and the new Chip Mong 271 Mall. The completion of the Hun Sen Boulevard added to the accessibility and viability of many business endeavours in Meanchey spurred by Meanchey’s large population base. Some landmarks in Meanchey are the International School of Phnom Penh and the Steung Meanchey Market.Population: ~250,000 residentsYou can learn more about this area in our Meanchey Location Profile.You can check out the property listings here if you’re interested!List of landed properties in MeancheyList of condos/apartments in MeancheyPor Sen CheyPor Sen Chey is a district on the western side of Phnom Penh. The district is largely made up of borey projects, community centres, KTV bars, new condominium developments and garment factories. Por Sen Chey is popularly known as the airport district as the Phnom Penh International Airport is located in the district. While the district is relatively less developed compared to other areas, its international airport has made it next on the list of districts being looked at by both public and private planners.Population: ~226,000 residentsYou can learn more about this area in our Por Sen Chey Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Por Sen CheyList of condos/apartments in Por Sen CheyPrek PnovPrek Pnov (ខណ្ឌពោធិ៍សែនជ័យ) is an outer district located in the northwestern part of Phnom Penh and is the largest district in terms of land area. Prek Pnov is mainly flatlands inhabited by residents in shophouses, flathouses, and factories. Like other outskirt districts, this area will likely see residential developments first in the form of boreys and will be followed by small-to-medium commercial centres.Population: ~188,000 residentsYou can learn more about this area in our Prek Pnov Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Prek PnovList of condos/apartments in Prek PnovRussey KeoRussey Keo (ខណ្ឌឫស្សីកែវ) is a district to the north of Phnom Penh. This district has some very large boreys and mixed-use developments transforming the district into an urban hub of its own and mainly populated by lower to middle-class Cambodians. The area is also known for its expatriate population made up of Chinese, Japanese, and Koreans. Russey Keo is made up of mostly local residential homes, villas and apartments but several businesses have their offices here and it is also home to large-scale breweries and manufacturing plants. Population: ~274,000 residentsYou can learn more about this area in our Russey Keo Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Russey KeoList of condos/apartments in Russey KeoSen SokSen Sok (ខណ្ឌសែនសុខ) is a north eastern district of Phnom Penh. This district is one of the larger districts in Phnom Penh in terms of land size and as well as short-to-medium term growth. Its vast flatlands have made it one of the hottest development destinations in the past few years as made evident by boreys, condos, commercial centres, and shopping malls popping up in the area. The area shows no signs of slowing down in development as it still offers relatively low median sale prices, especially for Cambodians looking to own landed properties close to big name commercial areas. Some popular destinations in Sen Sok include: AEON Mall 2 (the largest mall in Cambodia as of 2021), the Premier Centre Sen Sok, and the Grand Phnom Penh Golf Club.Population: ~183,000 residentsYou can learn more about this area in our Sen Sok Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Sen SokList of condos/apartments in Sen SokToul KorkToul Kork (ខណ្ឌទួលគោក) is a north-western district in Phnom Penh. Over the years, the district has become the second most popular residential area in Phnom Penh (after Chamkarmon). The area has seen a huge amount of development as of late and has attracted a mix of businesses, commercial, residential tenants, and home-owners. The area is well known for a large number of villas, office spaces, condominiums, and overall interest from developers. Some popular landmarks in the area include: TK Avenue (shopping centre), and the TK Roundabout.Population: ~145,000You can learn more about this area in our Toul Kork Location Profile.You can check out the property listings here if you’re interested!List of landed properties in Toul KorkList of condos/apartments in Toul KorkArticle by:
Cambodia condo outlook 2020 and beyond
Cambodia condo outlook 2020 and beyond
June 7, 2022, 2:21 a.m.
Realestate News
Location Profiles
(Cambodia's fast economic rise has put the country in the spotlight of real estate investors from around the world. Realestate.com.kh)[Article originally published in March 2020]The rise of condominiums in Cambodia, particularly in Phnom Penh, has certainly piqued the interest of local buyers, foreign buyers, and even the international media over the past half-decade. But as the Kingdom enters a new decade, you might be wondering, are condos still trending in Cambodia?The short answer is: Yes, they still are.But are they worth the investment? This report will look at price trends and upcoming supplies of condominiums across the Kingdom of Cambodia to help you decide.A look into Cambodia’s condominium sector 2020 and beyondRealestate.com.kh tracked over 100 projects across the country and examined the trend of condominium developments up until 2023. As a guide to potential investors (such as yourself), this brief report will breakdown the trend of the projects tracked across the 3 major population centres namely: Phnom Penh, Sihanoukville, and Siem Reap.The trend of condominium development in each city will be further broken down into popular questions such as:What’s the right price to buy a condominium?What affordable price can I pay for a condominium?How much can I spend if I want a top-class condominium?How many more projects and units are coming?How much can I expect to earn if I invest in a condo today?Will condominium prices increase next year?Phnom Penh(Phnom Penh is at the epicenter of the massive real estate development in the Kingdom. Realestate.com.kh)According to Realestate.com.kh’s Consumer Sentiment Survey 2019, 76% of property buyers within Cambodia are looking to purchase property in Phnom Penh. This isn’t too surprising as the city hosts the Kingdom’s seat of government and serves as the home to over 2 million Cambodians and a healthy expatriate population - making the capital not only the political centre, but at the same time, the primary economic hub of the country. This makes it the ideal place for buyers and investors looking for the widest selection of condominiums in Cambodia.What’s the right price for a condominium in Phnom Penh?In our 2019 Consumer Sentiment Survey also notes that most respondents earning $1,000 (and above) per month expressed they would be willing to spend anywhere from $75,000 to $150,000 on a residential property. The condominium sector seems to reflect this preference as:The average sale price of condo units in Phnom Penh is ~$119,000 across the range of units for sale (1-bedroom, 2-bedroom, and studio units). To be more specific, 1-bedroom condominium units cost an average of ~$110,000 and the average cost of their 2-bedroom counterparts is ~$160,000. While buyers looking for 3-bedrooms will have to fork out an average of ~$290,000. Studio units are also available in Phnom Penh at an average price of $80,000.What’s an affordable price for a condominium in Phnom Penh?For the sake of discussion, we will define affordable as the lowest price you can pay. Realestate.com.kh’s data indicates that condominiums can go as low as $47,000 for a studio type. If you’re looking for a 1-bedroom unit, there are options as low as $65,000. If you’re looking for something bigger like a 2-bedroom unit, you can expect to pay as low as $75,000. The most affordable among 3-bedroom units can be purchased for $145,000.You can start looking at The Hexa and Parc 21 Residences for the most affordable condominiums in early 2020.How much can I spend if I want a top-class condominium in Phnom Penh?Do you want the best regardless of price? Phnom Penh has luxury offerings with generous living spaces comparable to landed villas. Realestate.com.kh’s data shows that luxury condominiums can go up to ~$240,000 for a 1-bedroom unit in Phnom Penh while a 2-bedroom can cost up to ~$390,000. While the best of the best 3-bedrooms can be purchased for $600,000. Studio units are also available in the luxury range costing around ~$135,000.If you’re interested in the best and most luxurious residences Phnom Penh has to offer, you can check out R&F City, Prince Huan Yu Center, and Huangshan International.How many more condominium units are coming to Phnom Penh?Projects launches, completions, and suspensions happen at different times throughout the year. As such, this part of the report assumes that the projects tracked will meet their announced completion dates.(An illustration of a condominium unit in The Hexa, a new development in Russey Keo district. Realestate.com.kh)According to Realestate.com.kh data, almost 22,000 units spread across 30 projects will be added to the current stock of Phnom Penh’s condominium units by the end of 2020. A further 15,000 units, spread across 14 announced projects, will be added in the following year 2021. Another 11,000 units, spread across 11 announced projects, will be added in 2022. And in 2023, we project another 6,000 units across 8 projects that will be added to Phnom Penh’s condominium stock.NOTE: New project launches in the latter part of 2020 (not tracked in this report) may announce completion in the immediate future. The descending trend of additional units above is by no means an indicator of receding development.How much can I expect to earn if I buy a condominium today?There is a mechanism in real estate today called Guaranteed Rental Returns (GRR). GRR is defined as rental income guaranteed by the property developer/management to the property purchaser over a specified amount of time.In Phnom Penh, property developers usually offer 6% to 9% returns over a period of years usually ranging from 2 to 5 years. Simply put, this is the amount of money paid by the developer to the investor depending on agreed-upon intervals. Developers offering GRRs often have mechanisms to find tenants for the property, hence, the investor does not have to worry about renters.But don’t let numbers do all the talking as shady developers may use GRRs as a means of attracting customers without any intention of following through. GRRs should also not be the primary factor whenever you’re considering buying a rental property as a form of investment. We strongly suggest having a written and notarized contract that includes the agreed-upon rental returns over the specified period of time.Will condominium prices in Phnom Penh increase next year?Developers of tracked projects have indicated an increase in prices ranging from 5% to 30% per year. Most developers, however, shared that unit prices would increase by 7% to 8% next year. Buying today might be the best choice if you’re already set on buying a condominium in Phnom Penh.If you’re not in a rush to move in or if you can wait a year, we suggest buying off-plan condominium property from a reputable developer. Buying off-plan has its benefits, the strongest of which being: lower cost and the opportunity to make small adjustments to your unit.Sihanoukville(Sihanoukville's cityscape has considerably grown with hotels, office buildings, and condominiums. Realestate.com.kh)The port city of Sihanoukville has seen massive foreign investment in the past couple of years, especially from Chinese investors. Massive constructions such as condominiums, hotels, and offices sprung up as a result of the new-found economic life. It was the quintessential example of a boomtown as the amount of construction strained the once-sleepy beach town’s existing infrastructure. The ban on online gaming back in August 2019 certainly resulted in the exodus of a lot of Chinese workers - which in turn negatively affected property and rental prices in Sihanoukville. But it’s important to note that not all Chinese expatriates who live in Sihanoukville went to work in online casinos and that the gambling ban only applies to online casinos and not to landed casinos. Some came to work in Chinese-owned properties such as casinos, resorts, and condominiums, many of which are seeing completion in 2021.What’s the right price for a condominium in Sihanoukville?For context, Sihanoukville saw a steep increase in real estate prices due to the influx of Chinese investors and workers. After the ban, prices began to fall and (as of Q1 2020) is seeing a slump due to the mass departure of Chinese nationals. If you’re looking to buy property near the beach, Sihanoukville might be worth considering now. Good thing beaches don’t fly away when the market slows down.The starting sale price of condo units in Sihanoukville is ~$72,000 across the range of units available. To be more specific, 1-bedroom condominium units cost an average of ~$75,000 while the average cost of their 2-bedroom counterparts is ~$165,000. More spacious 3-bedroom options are available at ~$300,000.What’s an affordable price for a condominium in Sihanoukville?Sihanoukville’s residential development was made to attract Chinese buyers who often have high-class tastes. This makes affordable and good-value condominiums plentiful in Sihanoukville today.A 1-bedroom unit in Sihanoukville can be bought for ~$55,000. Bigger units are also available such as 2-bedroom units which can cost as low as ~$90,000. Even bigger 3-bedroom units can be purchased from $240,000. Though keep in mind that some affordable options may be quite a distance from the much-coveted beaches of Sihanoukville.How much can I spend if I want a top-class condominium in Sihanoukville?While luxury properties in Phnom Penh offer big pools, luxury properties in Sihanoukville offer the sea.  A luxury 1-bedroom unit in Sihanoukville can cost ~$150,000. While a top-class 2-bedroom unit can cost ~$250,000. Big 3-bedroom units can be purchased for $500,000. As for amenities, there is virtually little difference from Phnom Penh’s developments and you get the added benefit of easy access to the beach.If you’re interested in high-end condominiums in Sihanoukville, you can start with Prince Golden Bay, Prince Tian Xi Wan, and Morgan the Pure Bay.(The Prince Golden Bay is one of the most anticipated beach-side projects in Sihanoukville. Realestate.com.kh)How many more condominium units are coming to Sihanoukville?Sihanoukville will welcome several thousand units in the next few years. In 2020, we could see an additional 5,000 units entering the city’s condominium stock. In 2021, Sihanoukville will usher in over 27,000 new residential units. This is a figure almost twice the size of projected additional units to become available in the capital Phnom Penh. And in 2022, another 4,000 units will be added to Sihanoukville’s condominium stock.How much can I expect to earn if I buy a condominium today?Tracked projects in Sihanoukville offer Guaranteed Rental Returns (GRR) ranging from 7% up to 24% for a period of time ranging from 2 to 8 years. Though we would advise thinking twice about buying property solely based on the double-digit GRR offered by the developer, especially in Sihanoukville as these calculations were likely made before the August 2019 ban on online gaming.Will condominium prices in Sihanoukville increase next year?Developers of tracked projects have indicated price increases ranging from 5% to 8% per year. Some developers initially planned these increases with the influx of Chinese workers in mind. But with the departure of most Chinese expats, and lack of Chinese tourists due to the Covid-19 lockdown, these price increases may meet challenges - something you may use to your advantage as a buyer.If you’re sold on the idea of owning property in Sihanoukville, buying off-plan may be the best option as they tend to cost less and you gain the opportunity to make adjustments to your unit.Siem Reap(Siem Reap's condominium market pales in comparison to Phnom Penh and Sihanoukville but there are a handful of opportunities. Realestate.com.kh)With more than 1 million tourists per year, Siem Reap is unequivocally the Kingdom of Cambodia’s cultural tourism center. But not often talked about is how Siem Reap is the 2nd biggest population centre with over 1 million residents, according to the General Population Census 2019. This figure does not account for the many expatriate communities living and working in the province.Siem Reap does not have the same kind of condominium development Phnom Penh and Sihanoukville have. This is primarily due to Siem Reap’s primary industries relying on tourist traffic; creating a marketplace where hotels and boutique guesthouses thrive while shophouses, villas, and boreys dominate the residential market.What’s the right price for a condominium in Siem Reap?There are still, however, a handful of on-going projects in Siem Reap. Unit prices in the city range from $68,000 to $157,000 according to the projects tracked. Some of these developments are noticeably more spacious than condominiums in Phnom Penh.What’s an affordable price for a condominium in Siem Reap?The lowest price among projects tracked costs $68,000 for a 1-bedroom unit. Bigger spaces are also available with 2-bedroom units costing as low as $105,000. The Siem Reap projects tracked also offer 3-bedroom units costing as low as $145,000.How much can I spend if I want a top-class condominium in Siem Reap?Top-class condominiums in Siem Reap can go up to ~$150,000 per unit. The most expensive among 1-bedroom units cost $75,000. If you fancy a luxury 2-bedroom, it will cost around $110,000. And if you want something luxuriously big, a 3-bedroom in Siem Reap costs up to $160,000.How many more condominium units are coming to Siem Reap?According to projects tracked, Siem Reap’s future condominium stock will be limited in the immediate future with only less than 1,000 units to be introduced by 2021.(A one-bedroom condominium in Sky Park, one of the few condominium projects in Siem Reap. Realestate.com.kh)How much can I expect to earn if I buy a condominium today?Investment returns on condominiums largely depend on the market of potential tenants. Since Siem Reap’s economy largely revolves around tourists who usually do not stay long-term, there are not a lot of condominium developments as the abundant number of boutique hotels offer much more attractive rental rates.In January 2020, the Chinese government has banned its citizens from leaving the country to curb the spread of Covid-19. This has caused tourist numbers to Cambodia to drop significantly as more than a third of its annual tourists come from China. Initial government reports indicate that January 2020 arrivals are down by 60% and February 2020 arrivals are down by 90% - compared to 2019 figures.With the dominance of hotels, boutique guesthouses, and the fears of a viral outbreak, investment prospects in condominiums in Siem Reap may face difficulties in the first half of 2020.Will condominium prices in Siem Reap increase next year?暹粒的跟踪项目未指定价格上涨。但是,与任何房地产一样,我们可以预期价格会上涨。中国政府对公民实施的旅行禁令(早在2020年1月)可能对暹粒的公寓市场构成间接威胁。尽管游客通常不出租公寓,但他们的缺席给暹粒的当地经济带来了沉重压力-使其对希望在该市最大的创收行业中生活和工作的投资者/专业人士的吸引力大大降低。随时了解柬埔寨的房地产行业,并实时获取有关房地产新闻的实时更新。立即下载Realestate.com.kh应用程序!文章作者:
Long-term visa options in Cambodia
Long-term visa options in Cambodia
June 7, 2022, 7:11 a.m.
Special Reports
Home & Living
Location Profiles
Are you planning to retire in Cambodia?In the 2019 InternationalLiving.com's Annual Global Retirement Index, Cambodia was named as the 12th best place in the world to retire.  This was the fourth year in a row that the Kingdom held that title.In the 2021 edition, Cambodia again ranked as one of the most affordable destinations to retire and one of the best countries to retire overall.You can find out more in our ultimate guide to retiring in Cambodia which details the costs, benefits, property, and insurance expectations. See more below about the visa required by retirees in Cambodia.Is a visa required to stay in Cambodia?Yes, a visa is required to stay in the Kingdom of Cambodia for all foreigners. However, Cambodia has some of the most flexible visa regulations possible for foreign tourists, expat professionals, and retirees to visit and live in the “Kingdom of Wonder,” in the region.Whether you’re a tourist or a resident, a visa is required to visit, or stay in Cambodia long term. In 2019 the visa rules were constricted regarding long-stay visas, giving a preference for those who are locally employed or of retirement age.Types of Cambodian visasTourist visaThe tourist visa (T class) is for travellers who know they will be staying for 30 days or less. The 30-day tourist visa is available to travellers in advance or on arrival (for most nationalities) for a cost of $30 if you obtain it directly at the airport. The tourist visa is single entry only and can be renewed once only for an additional 30 days for a fee of between $30 and $50.At the expiry of the additional 30-day extension on your tourist visa, you must leave Cambodia and come back to obtain a new visa. If you are planning on staying in Cambodia, a tourist visa is not the best one for you, so start with a renewable ordinary visa instead.Cambodian “ordinary” visas (E class) If you wish to stay in Cambodia for an extended period of time, you will need to apply for a 30-day E-class visa (not an online e-visa) when you arrive. The visa is valid for 30 days and costs $35 (subject to your nationality). An ordinary visa can be extended indefinitely.Prior to your 30-day expiry, you will need to go and extend your visa. Due to language barriers and uncertainty, if it is your first time extending your visa, a lot of expats will use the services of an agent. You can choose an EB, EG, ER, or ES visa extension, known as an EOS, or extension of stay.The four E-class visas in Cambodia(Please note: that during the global COVID-19 pandemic - the visa situation in Cambodia has been temporarily different and no visas on arrival have been offered. Visa regulations and requirements should be checked with your relevant embassy from overseas. We recommend you follow the official government announcements on issuing visas).EB visa extension The EB business EOS (Extension of Stay) covers most expats in Cambodia, including those who are working, their partners and children, freelancers, and volunteers. The current rules (as of January 2019) require applications to provide a stamped letter verifying their employment with a Cambodian company). This visa extension is renewable and can last for 1, 3, 6, or 12 months. Please note only the 6- and 12-month visa extensions allow multiple entries.Spouses and children of EB visa holders will need to submit the visa holder’s employment letter. The letter needs to state that the company supports the application for the spouse’s EB EOS as a non-working dependent, and includes the dependents’ passport information. You will also be required to bring proof of your relationship to the visa holder to renew your own visa extensions.If you are self-employed and have a registered business in Cambodia you can write a letter confirming your own employment. This letter must be stamped with the registered Cambodia business stamp. Further information on setting up a business in Cambodia can be found here.An EB visa extension does not automatically give you the right to work in Cambodia. In order to be legally employed, you will need a Cambodian work permit and employment card issued by the Ministry of Labour and Vocational Training.EG visa extension The EG visa extension is designed for those seeking employment in Cambodia and can last 1, 3, or 6 months. If you have had a previous EB visa extension you probably will not be granted an EG visa, as they are not intended for expats who have already been in the country for a long term. The EG visa is only for first-time visitors to Cambodia.ER visa extension The retirement visa extension is for expats of retirement age. You simply apply for ER (retirement) extensions. Here are the requirements:You must be 55 or older.You cannot be employed.You must be able to prove you are retired (with a pension or social security documentation) and have enough funds (bank or retirement fund statements). For more information, please read our ultimate guide on retirement in Cambodia. These extensions can be valid for various lengths of up to one year. Prices are similar to working visa extensions which cost around $290 for a full year with multiple entries. There are various agencies throughout the region that can assist and help you with processing.Although the ER visa is popular and the price point is much lower than in neighbouring countries, you are not permitted to seek employment in Cambodia. For those wishing to work or operate a local business a Business Visa is required. It is worth noting some US companies are present in Cambodia and you might find them with job postings on popular US employment portals. More jobs in US here.ES visa extension The ES visa extension is a student visa. Applicants for the ES visa extension are required to provide a letter from a registered Cambodian school, as well as documentation to demonstrate they have sufficient funds to support themselves. The ES student visa extension can be issued for 1, 3, 6, or 12 months.Other Visa Types for CambodiaThe visas mentioned above are the main types most foreigners will be looking to secure for a long-term stay in the Kingdom. However, there are some other visa types for children of foreigners and those working in the NGO and international visitors of the government.K-class VisaThe K-class visa is intended for those of Cambodian descent who hold a foreign passport, which is valid for free for a lifetime visa.B-class VisaThe B-class visa is for employees of organizations that are in Cambodia at the government’s invitation EG: United Nations or World Health Organization.C-class VisaThis is a free visa for employees of international NGOs that have a memorandum of understanding (MoU) with the Ministry of Foreign Affairs.Cambodian visas for childrenAll non-Cambodian children are required to have an E-class visa to enter the Kingdom. If the child has at least one Cambodian parent, they can apply for a free K-class visa.Work Permit in CambodiaThe Cambodian Department of Immigration requires all foreign nationals to obtain an official work permit/employment card to be eligible to work in the country.Foreign nationals wishing to work in Cambodia must also meet the following conditions:Have a job offer from an employer compliant with relevant regulations regarding the employment of foreign nationals.Have legally entered the Kingdom of Cambodia.Possess a valid passport.Possess a valid residency permit.Be fit for the relevant job.Have no contagious diseases.You can read more about being an expat in Cambodia in our guide.Register on the Foreigners Present in Cambodia System (FPCS)The FPCS app records foreign information when they arrive in Cambodia at any entry point. It also records their data when they leave Cambodia.The main purpose of FPCS is to protect foreigner safety and security in case of an emergency when they are traveling throughout Cambodia and was introduced and enforced in early 2020.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by
Property Market:  Experts Discuss Rental Price for Condo, Office and Retail Sector in 2018
Property Market: Experts Discuss Rental Price for Condo, Office and Retail Sector in 2018
June 7, 2022, 5:38 a.m.
Location Profiles
Cambodia’s real estate sector saw a remarkable growth last year, with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) approving a total of 3,418 projects nationwide.The combined value of approved investments in the construction sector increased by 22% year-on-year (y-o-y) to $6.8 billion. In 2017, residential projects accounted for 82% of all approved projects, while commercial projects represented just 8% of the total.The approved projects in 2017 will offer more residential and commercial supply this year, which is likely to have a huge impact on rental market, particularly in the Condo, Office and Retail sectors.Condo Rental Market: Lower Occupancy, Rentals PredictedAccording to 2017 CBRE Q4 report, by the end of Q4 2017 Phnom Penh condominium supply reached 8,600 units, representing an increase of 108%, compared to the end of 2016. Approximately 63% of total stock at the end of Q4 was categorized as mid-range, with more than 5,000 units having been completed.Condominium for rent in prime locations were broadly stable over the course of 2017. Rents of high-end condominiums in prime locations ranged between $14 and $18 per sqm per month, while those in the mid-range segment were between $11 and $15 per sqm. Affordable condominiums in prime locations achieved rents in the region of $10 per sqm.Ann Sothida, CBRE country director in Cambodia, said: “Condo market in 2017 was healthy with occupancy rate of approximately 85%; however, the market may need time to absorb new supply so we think the occupancy rate is likely to be lower in 2018.” In 2018, according to her, there is an additional supply of 13,000 condominium units, in addition to 1,200 units of serviced apartment. “The supply by 2018 will increase by 87% from 16,300 units to 30,500 units,” she stressed. Given the significant residential supply in the pipeline, she said that residential rents are likely to drop by roughly 10% in 2018. Office Rental Market: Rents Expected to Increase2017 witnessed growing demand for good quality office space from both local and foreign occupiers, with large space being occupied by multinational companies. This results in vacancy in the Grade B sector falling to circa 10% over the year.The CBRE report says by the end of Q4 2017, the supply of modern office space in Phnom Penh had increased by 11% y-o-y and 2% q-o-q. As of Q4 2017 occupancy across the sector stood at 82.7%, the highest rate since early 2009 and approximately 160,000 sqm of office space is under construction and due to be delivered during the coming 24 months.Centrally owned offices accounted for 36% of future office supply while strata-title buildings represent the majority of under-construction office projects with a total leasable area of circa 105,000 sqm.Regarding office rents, Ms. Ann said: “average quoting rents for modern offices across all grades rose by 1% in the year to December 2017. Quoting rents of Grade-A buildings remained at between $28/sqm and $38/sqm per month.”“Average quoting rents across all grades were broadly stable over the Q4 when compared to Q3, however, rents of Grade-B buildings in non-CBD locations appreciated by 4.4% in Q4 compared to Q3 2017,” Ms. Ann added.As the demand of commercial office space remains strong this year, in addition to current office supply pipelines, Ms. Ann expects that office rents will also slightly increase this year.Mr. June Zeng of Tings & Associates Co., LTD said: “the outlook for the office sector is quite optimistic. Those who have done projects with professionalism such as Exchange Square will surely be rewarded. And for those who aren’t so professional, it really won’t do as it always would in the residential sector. I reckon, the office sector in 2018 is more of a question of professionalism than that of demand and supply.” - In the meantime, office space for rent in Phnom Penh is still available.Retail Rental Market: New Construction Will Double Current Retail SupplyBy the end of Q4 2017, approximately 300,000 square meters of modern retail space is under construction or planned and when finished will double the current retail supply over the course of the coming 24 months, according to the CBRE report.Prime retail rents were broadly stable over the course of Q4 2017 compared to the previous quarter, with no significant changes found at prime shopping malls or community malls. The highest quoting rents were due to prime retail podiums, which topped the market at $65 per sqm per month.Ms. Ann said: “an addition of circa 200,000 sqm is going to be delivered across seven projects in 2018, which will double the figure of the current supply. This new supply is predominantly driven by a combination of new shopping complexes developed by international groups and significant retail components within residential led mixed-use schemes.”However, since the retail development that add to the market in 2018 are quite spread out to second CBD & other locations and the demand remains strong, Ms. Ann anticipates that over the course of 2018, retail rents will remain stable compared to those of 2017.Find out property for rent in Phnom Penh or property for sale in Phnom Penh!
CBRE Cambodia Special Report on Sihanoukville
CBRE Cambodia Special Report on Sihanoukville
June 6, 2022, 5:04 p.m.
Location Profiles
There have been many good things written about Sihanoukville in the past couple of months as both an “Alternative Condo Hub” and as “Cambodia’s Next Boom Town.” But beyond the surface, there are many underlying details that have not made major headlines yet, which make the humble province even more attractive for investment. So, besides this mainstream information, what exactly has been happening to Sihanoukville and what does it have to offer? CBRE Cambodia answers those questions through their recently released “Special Report on Sihanoukville.” The report focuses on key aspects in the province such as location seasonality, accessibility, arrivals, hotel supply, condominium developments, industrial developments, land costs, construction costs, and operating costs. Location and Seasonality According to the report, “The driest periods are in January and February.” Meanwhile, “most rainfall falls from May till November.”  But the report also mentions that despite this, “on average, the temperatures can be considered high all year round.” Sihanoukville is located at the tip of the hills on the peninsula, where it starts of 15 meters above sea level from the north, slowly brushing down into the beaches and marsh land as you head south. CBRE adds, “The sea is relatively calm, the water is warm, and of a low level.” Accessibility Now, because Sihanoukville is rapidly gaining interest, accessibility has also increased – especially with direct international flights already being offered from China, Vietnam, and direct flights from Kuala Lumpur commencing in August. The report states that as of February 2017, an increase of more than 168% year-on-year flight movements has been recorded. In addition to increased flights, the seaports are also being utilized to bring in tourists as well as goods. Compared to 42 ships calling in from 2015 from the port, 2016 saw this increase to 49 cruise ships and foreign navy vessels. The January to March 2017 period saw 23 arrivals, demonstrating a significant increase for the year ahead.  Planes and ships are not the only means to reach the area. Travel by road is still the most popular method. A new highway is currently being developed to make access to the province much easier. If you plan on traveling by road, the report states that “several bus companies run multiple air conditioned or local buses to and from Phnom Penh for as little as $3 to $4.” It adds that “buses also travel directly from Vietnam and Thailand to Sihanoukville.” But if you don’t like taking public transportation, the report suggests hiring private cars that cost anywhere between $55 and $65, for a four-hour trip. However, if you’re planning on taking the re-commissioned Royal Railway to get to or from Sihanoukville, this will take around 8 hours, but will only cost you $6 and a fantastic way to see the countryside.  Arrivals It is important to note that because Sihanoukville is now more accessible, tourism has grown significantly as well. The report indicates that currently, year-on-year tourist arrivals have increased  by 37%, a representation of around 2.4 million visitors who visited the province in 2016 alone. This drove tourism receipts to an estimated total of around $3 million. It also mentions that there was an increase of 12% of foreign visitors, on average, are staying  5 to 7 days in the area. The majority of these visitors are from China, Russia, and Vietnam. The report also adds, “Cambodia and Sihanoukville were once an extension to the standard South East Asian Trip. They have now evolved as destinations in their own rights.” Hotel Supply There is  a wide variety of hotel accommodation in Sihanoukville. CBRE classifies them as low budget, midrange, high end, luxury, and super luxury. According to the report, the majority of this accommodation is  budget to mid-range hotels, hostels, and bungalows. These range from hotels on the beach, in the city and hotels on the islands. Notwithstanding this, CBRE noted that the province’s “presence in the high end market has grown rapidly.” The report also outlines the average daily rates per classification. Low budget hotels are around  $18 per night; mid-range hotels are at $38 a night; high end hotels cost $76 a night; luxury hotels will set you back $160 per night; and super luxury hotels are at $2,175 a night. Condominium Development The concept is relatively new to the province, with the first condominium project, Sunshine Bay, commencing sales in 2015. This has been quickly followed by D’Seaview. Both developments are set to complete in 2018, bringing in a total of 1,700 units all together. As for construction costs, the report indicates that a resort hotel may cost around $1,303 per square meter to build. A 3-star budget hotel is slightly more expensive at $1,592, while a 5-star budget hotel costs $2,007 per square meter to build. The report states that local investors are shifting their mindset in favor of condo living above traditional landed dwellings. Meanwhile, the majority of foreign condo investors include people from China, Russia, Taiwan, and Korea.  Industrial Development At present, one of the biggest developments in the province is the Sihanoukville Special Economic Zone. According to the report, “The SSEZ will cover around 11 square kilometers when completed, with over five square kilometers earmarked for textile and clothing manufacture, machinery and electronics and light industry products.” The report continues, “To date over twenty plants and factories have been constructed with more in the planning. Among these are 16 Chinese investment enterprises, seven third country enterprises and a Sino- Cambodian joint venture, employing 6000 people.” Once construction wraps up, the SSEZ will house 300 factories and around  80 to 100 thousand workers.  Cost In terms of land cost, CBRE notes  that the cost for land along major roads range from $600 to $1,000 per square meter. Meanwhile, land on Ochheuteal Beach and other beaches range from $1,000  to $1500 per square meter.On the other hand, the report states that smaller road parcels can go anywhere from $250 to $300 per square meter. CBRE also states that lots being offered on lease terms can range $300 to $1,500 per month. As for construction costs, the report indicates that a resort hotel may cost around $1,303 per square meter to build. A 3-star budget hotel is slightly more expensive at $1,592, while a 5-star budget hotel costs $2,007 per square meter to build. Condominiums cost less to build at $748 per square meter for an average standard height high-rise building and $907 for a luxury high-rise condo. For operating costs, CBRE advises that the “utility costs supplied to Sihanoukville are based on government charges.” The base price for electricity is 820 Riel per kilowatt-hour. The water cost, on the other hand, can range anywhere from 1,500 to 2,000 Riel per cubic meter. In terms of labor cost, wages depend highly on skillset. But just to get an idea, the report says that a general worker would normally receive $100, a mid-level engineer $360, and middle management would normally get $416.Conclusion The report concludesby saying that “the Cambodian Government is embracing investment in all sectors.” This comes with its fair share of trials such as the labor force lacking qualified employees. CBRE states however that with all investment strategies, research, sound financial and legal advice and extensive due diligence must form a major part of the investment strategy.” All in all, the report indicates that “the future looks bright” for the province of Sihanoukville, especially with investment moves like the Bank of China expanding its operations in the province and the expansion of the SSEZ. Read more report in our news section
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Areyksat and Vihear Sour showing potential for investors
Areyksat and Vihear Sour showing potential for investors
June 7, 2022, 6:22 a.m.
Location Profiles
Areyksat, located in Kandal province east of Phnom Penh City and just a short ferry ride across the Chaktomuk River, is increasingly catching investors’ attention – with a number of residential, industrial and amenity projects now in the pipeline. This attention begun last year after Phnom Penh Governor Pa Socheatvong revealed upcoming infrastructure development projects connecting the area to the central city; namely, three bridges connecting Phnom Penh to Koh Dach, Svay Jrom and Areyksat. Although some are hesitant to invest in Areyksat pending the launch of these connectivity projects, many real estate experts and locals are keeping their eyes on the area thanks to the other notable developments already underway. Mr. In Sitha, CEO of the real estate website cambodia21.com, said: “Areyksat is recently seeing notable developments in terms of housing projects such as Borey Chaktomuk, the Evergreen project, Chaktomuk View, and several plot land projects. These developments contributed to a rise in land prices compared to the past three or four years.” SkyLand, a joint venture between Jet’s Group, a Cambodian company, and India-based STAR5 Development Pvt. Ltd., has also launched a $90 million affordable residential project in Vihear Sour commune. Ms. Chea Vita, assistant general manager of Sky Land, said: “The company occupies a total land area of 7,770 hectares divided into different development projects such as sky condominium project, sky villa project, and flat house project.” “The first 1,000 hectares is used for plot land and residential houses. While the first plot land project is already completed, next month the company plans to officially announce a flat house project,” she added.  Just 14 kilometers away from Phnom Penh, the Sky Land project is located in an industrial area where there are around 20 factories with nearly 40,000 workers. This offers significant appreciation potential for those buying in this area, according to Ms. Chea. Besides this, Ms. Chea revealed the company has reached agreements with other development companies to bring more amenities and services to the area; including a water park, solar power generation for the area, a fitness center and golf club, and the first floating market along the Mekong River in the area of Vihear Sour. Due to the various projects underway, Mr. In added Areyksat is an area of great future potential, especially for housing developments as it is located right next to the city, it offers many green areas, fresh air and a great river view. Sharing Mr. In’s view, Mr. Seng Sopheak, Chief Operating Officer at Cambodia Properties Limited (CPL), suggests Areyksat enjoys a “strategic location, just a stones away from the city. It will certainly attract a lot of interests from more developers in the near future.” In regard to land prices, Mr. Seng said: “Areyksat’s land prices can be divided into residential, riverbank, lowland (lake). Prices saw a high peak in 2014 and 2015, but currently they seem to have stabilized.” “For residential land in the Areyksat Commune along road 380, starting prices are between $400 and $500 per square meter; riverbank land starts from $150 to $250 and the lowland $30 to $50 per square meter -- with guarantee of legal ownership. It is also possible to find lower land at a lower price, but there’s no assurance that there’s no hidden conflict,” he added. “For the land located close to borey and condominium projects, prices can range from $80 to $150 per square meter. In this area, there are also some subdivisions of plot land projects, and prices can go from $100 to $150 per square meter,” according to Mr. Sopheak. Mr. Sopheak notes that infrastructure developments in Areyksat are vital to local people looking to move there. And while basic infrastructure such as water and electricity is coming quickly, connectivity to the city remains a major impediment for the time being. Nevertheless, for investors with time to spare before expecting a return on their investment, buying before roads and bridges are completed mean that land prices remain competitive. Mr. Moeun, a shop vendor in Areyksat village, welcomes the government’s infrastructure development plan in his area, saying: “I wish to see this area to have more roads and bridges across the river. When these infrastructures are developed, then I think companies and new development projects will also start to move in. And one more thing, having a bridge is good and convenient for villagers to travel to the city.” Despite being uncertain of the infrastructure development projects in his area, Mr. Hen Hoeun, a villager in Areyksat commune, said: “I want a housing development to launch in Areyskat commune, then I will buy one for my family; I want to live here, and not have to move to another area.” Check out property for rent or sale on Realestate.com.kh!
Kampot and Kep sees 23.2 billion dollars invested in early 2017
Kampot and Kep sees 23.2 billion dollars invested in early 2017
June 6, 2022, 5:05 p.m.
Events & Announcements
Realestate News
Location Profiles
In a program with local media news, BTV, Mr. Chheang Sophanna – international sales manager of Pallas Group – said that the company plans to launch its $23.2 billion development project in March of 2017.  It will be located in the coastal area of Kampot and Kep.The government issued a license of development for to the project on October 12, 2016.Mr. Sophanna added that the Kampot and Kep project will be developed for residential holiday homes, business, and tourism and holiday homes. This is the first large-scale international project. It will be a great way to welcome foreign visitors from all around the world, he claimed.  Pallas Group is an international real estate company which is expected to occupy a total land area of 4,158 hectares in Kampot and 144 hectares of land area in Kep. Meanwhile, the company is also looking to do a similar project in Thailand and Vietnam. Kampot is situated 148 kilometres away, while Kep is located 170 kilometers away from City of Phnom Penh. Ms. Siriluck Choochart, the President of Pallas Group, mentioned that the project in the two provinces will be called the “French Riviera Marina”.The French Riviera Marina is set to become an international destination for purposes like residential, business, tourism, and film production. Siriluck cited that the company's Kampot and Kep project will create over 50,000 jobs after the construction begins and thousands more after the development is completed. And each project will be environment-friendly. It will also make use of modern construction materials and the most advanced construction methods. This project will be made with quality in mind and is slated to become the best of its kind in Cambodia.The French Riviera Marina will also offer a safe sea park that includes villas, hotels, apartments, a swimming pool, artificial beach, a private coast, a golf course, a port, boutique shops, leisure area, and many more.Enjoy more of the latest real estate news!Click here to download your free copy!