When selling your home, should you stick with one real estate agent or list your property through multiple agents? Both options have clear advantages and disadvantages that sellers may want to consider before deciding. Listing with Multiple Agents:- If you want to make a quick sale, listing your property with multiple agents would seem like a logical choice. And there’s a good reason for that. You get more exposure. These professionals can utilize different avenues such as the newspapers, buyer networks and internet property listings to spread awareness for your property. More exposure means a gathered interest from a larger audience.- The downside to using multiple agents though is that you’re working with a range of people and various sales strategies that are often times totally different from each other. This also entails that there are different degrees of understanding as to what type of buyers are qualified for the sale. This may mean the information about your property becomes different than you first intended as it travels between agents and their networks - which will mean the buyers they present are not necessarily sold on the correct info.  - Hiring multiple agents also means that negotiations will be done in isolation. The ones competing won’t be the buyers but the actual agents. This hurts your cause because you might find out too late that someone else may have made a higher offer.- There is also the risk of running into “commission cowboys”. These are self-professed private agents who will do anything to make a sale. This doesn’t always get you the best buyers.Listing with an Exclusive Agent:- The thing about listing with an exclusive real estate agent is that their sales strategy – if it’s the right strategy – it can save you a whole lot of time and effort. It focuses in on making sure that you get a good deal, with the right buyer without demanding too much. This also offers the agent more flexibility to adjust their strategy based on your needs and on the current market’s feedback.- You can hire a professional that specializes in your kind of property too. It is important to note that one effective person can outdo a hundred ineffective ones. Make sure you choose your agent wisely.- Having an exclusive real estate agent also makes it easier for the buyer. Buyers would rather think about their personal needs more than they think about which agent they should contact. Keeping everything singular eliminates any possibility of confusion and makes it more convenient for buyers to make an offer.- Exclusive agents also sometimes package property management services into the mix as a form of incentive. This is something you won’t get from multiple agents.- The downside to this is that information about your property is limited to the stream of influence your agent has. Your reach is much more contained.Want to learn more about how you can make money by investing in real estate wisely? Get on Realestate.com.kh today!Ready to make a listing? Sign up for an account with us now!

Preah Sihanouk province or generally known as Sihanoukville, is located at the south-west corner of Cambodia. It is 230 km from the capital city of Phnom Penh. It covers a total of 2,536.68 square kilometers where two-third of the total area are hill and plateau.Now, Sihanoukville has become significant part of the country’s economic growth. With the stability of its economy, it is also attracting foreign investments into the province, which is also affecting the land market. For this reason, before buying land in Sihanoukville, it’s important to understand the local market to make sure you get your investment worth.How much is land in Sihanoukville selling for?According to Mr. Den Sakal, CEO of Universal Real Estate in Sihanoukville, land in Sihanoukville is divided into three major areas -- agricultural land, downtown land, and coastal land.Agricultural land refers to the area where residents are living and doing their farming. This type of land is located farther from the town and beach. The price of this type of land also remains lower compared to other two areas. Meanwhile, downtown land is crowded and is not far from the beach, and is generally good for businesses since this is where all the commercial activities happen. This allows the land price to go higher than in the agricultural area. However, buying land here is still lower than the coastal land area where the beach is the key factor for tourism, residence, hotels, restaurants, and other leisure activities.Sakal mentioned that in terms of land price, agricultural land starts at $5 and can go up to $25 per square meter. Downtown land has an average of $400 to $700 per square meter, whereas the coastal land where there is high potential, prices range from $700 to around $1,200 per square meter.What types of land titles are available for land in Sihanoukville?Sakal said that there are both hard titles and soft titles being used in the entire province. But soft titles do not hold the same security that hard titles do. Some areas have been issued hard titles by the land office. But some still don’t have hard titles. However, every land that carries a soft title can be also applied to get a hard title.Soft titles are still generally accepted without any problems. However, before buying any land asset, is better to ask for a hard title. If it does not exist, then check with other villagers in the area to make sure you are buying a secure land.Where should you buy land in Sihanoukville?Sakal says there are a total of 4 districts in the province. These are Sangkat 1,2,3 and 4. Sangkat 1 is far away from the other three. If you plan on investing in this sangkat, meaning that it might take longer to see the return on your investment, compared to the rest of Sangkats. The other 3 sangkats are quite  busy in terms of business, commercial activities, and tourism. It’s more convenient for both living and selling back in this area -- especially in Sangkat 4. It is the top area for tourism. It houses the Ochheuteal Beach, Otres Beach, Sokha Beach, and the upper market (Phsar Leur).Why should you buy land in Sihanoukville?The potential for investment in the area is huge, in terms of residential development, industry, business, and tourism. So, regardless of whether you buy properties here for living or for future resale, this area appears quite promising.Additionally, Sihanoukville is seeing the rise of many new housing developments such as D’seaview, Blue Bay Sunshine Bay, Royal Bayview and Blue Sky Tower. Other than the residential sector, there are also many already existing developments here such as ports, the Sihanoukville Special Economic Zone (SSEZ), the airport and tourism sites. And it is expected to welcome  even more new developments in the upcoming years.Moreover, today accessing Sihanoukville is much more convenient with options like using the National Road No. 4 and the railway which have direct access to Phnom Penh. All these factors provide constantly good opportunities for land investment in Sihanoukville.Can expats buy land in Sihanoukville?According to the land law of Cambodia, foreigners are not allowed to own land and landed property in the country except through a strata title. However, strata titles for residential units are only applied for co-owned buildings and foreigners can only own units above the ground floor.However, there are exceptions that foreigners can utilize to own land in the country such as marrying a Khmer, becoming a Khmer national, leasing long-term, using a nominee structure, forming a landholding company, or applying for a concession.What are the legal aspects I need to know before I buy land in Sihanoukville?No matter what methodology you use to find land Sihanoukville, just make sure you find land with no hidden conflicts, and no hidden leasing or buying. But it may be stressful to check these details if you are a newcomer to Cambodian real estate. As a recommendation, seek the assistance of local agents to help you find the perfect property. In term of the law, real estate agents are very knowledgeable about the area and can handle those things for you. Your stress will be relieved.Looking for land for sale in Cambodia? Find it on Realestate.com.kh

Cambodia’s rapidly growing property sector has opened up a new market for housing projects throughout the Kingdom. While condominiums continue to take the headlines in Cambodia’s construction news, little do outsiders know that Borey developments - gated communities featuring a range of popular residential housing - are beating condominiums in terms of popularity among Cambodia’s expanding middle-class.At the end of 2018, Knight Frank recorded a total of 46,197 units across 126 Borey developments. That number increased to 51,278 units across a total of 131 Boreys by the first half of 2019!The supply of landed property projects continues to grow in the first half of 2021 despite of the impacts of the global pandemic. 21 new projects were still launched in 9 districts in the capital which added l15,500 units to the future supply.This number is expected to grow in the coming years but you can get up-to-date Realestate.com.kh’s Real Estate Survey and Reports here.What is a Borey and what makes it so popular?A Borey development is a gated community featuring a range of housing types popular among Cambodians. It can feature single villas, twin villas, hybrid villas, linked houses, shophouses, and flat houses. These different housing types further offer a wide range of preferences in terms of floor area, number of rooms, and prices to accommodate the needs of individuals, families, and/or businesses.Since Boreys occupy a considerable amount of space, some areas of the development may be allocated for parks, children's’ playgrounds, markets, and retail stores. These gated communities also feature 24/7 security through private security personnel and infrastructure.Where to buy a Borey in Cambodia?According to the General Population Census 2019, over 2,200,000 Cambodians live in Phnom Penh. This makes Phnom Penh the most populated city in the Kingdom and it only follows that most of the Kingdom’s Borey developments are concentrated here.A high percentage of borey developments are located in the outlying districts of the capital city, because of two primary (and related) reasons.First, Phnom Penh’s almost-breakneck pace of development leaves little-to-no room for Boreys to be developed within the city center.Second, because of the speed of development, land prices close to the city center make it virtually impossible to make any Borey development appealing for a majority of Cambodians.Given the variety of Borey developments, we recommend buyers to check the latest Borey projects close to Phnom Penh.(Borey VIP in Dangkao commune, Dangkao district) (Borey Lorn City Lotussana in Chaom Chau commune, Por Sen Chey)   (Borey Galaxy 11 in Spean Thma commune, Dangkao district)As the Borey market in Phnom Penh gets more competitive, developers have started looking elsewhere in the Kingdom for future projects.Siem Reap, the second most populated city in the country with over 1,000,000 residents (General Population Census 2019) has started seeing its own Borey launches in the last couple of years.Most Borey developments have reported strong off-plan sales figures, with some citing sold-out figures in their first and second phases. The interest shown by the local market suggests that the city’s market is open to new property developments despite the popularity of shophouses and traditional Khmer houses in Siem Reap.The Borey market in this culturally rich city is growing every year. We recommend interested buyers to check the latest Borey projects in Siem Reap and some of the featured boreys below:Bakong Village - Bakong, Prasat BakongVnom Empire - Ampil, Prasat BakongBorey Royal Angkor Village - Svay Leu, Svay LeuSihanoukville has seen rapid commercial and residential developments since 2015, mostly focused on mixed-use developments. Borey developers, however, have taken an interest in the city as the on-going development of a USD $2 billion expressway from Phnom Penh to Sihanoukville, and a USD $294 million road rehabilitation within the city, makes it a strong candidate for Cambodia’s next major urban centre.For property hunters looking for the comforts of the city while having easy access to Cambodia’s beaches, we recommend interested Borey buyers to check  Borey VIP in Sihanoukville and all the latest borey developments in Sihanoukville.How are Borey properties priced?Borey properties vary greatly in terms of prices. This is mainly because of the aforementioned variety of properties offered within any given Borey development. For ballpark estimates, Knight Frank’s report cites that these could range from USD $750 to USD $1,700 per square metre in 2019.Then again, land prices in Cambodia are constantly on the rise so these prices are expected to further increase in the immediate (2-3 years) future.Factors that directly/indirectly affect Borey prices also vary. Here are some key considerations in Borey price assessment:How far away is the Borey community from the nearest commercial centre? (Shopping centres, theatres, banks, government institutions, airports, etc.)What are the included amenities in the Borey? (community park & events centre, children's playground, public swimming pool, etc.)Did the developer build the necessary residential infrastructure themselves? (electrical grids, water and sewage pipelines, access roads, etc.)Is the Borey overall an affordable/mid-tier/premium Borey?We suggest you consider these factors, in addition to your specific and personal needs, when buying a Borey, or any property, in the Kingdom of Cambodia.Find out more about property valuation fees in Cambodia.Tax law for Borey in CambodiaFor any property of any type with a freehold/hard title in Cambodia, whether you’re a local or a foreigner, there is a transfer tax that you have to pay whenever you purchase a property. The transfer tax is 4 per cent of the property’s value.An annual property tax is also levied on landed property exceeding 100,000,000 riels ($25,000) in value. This tax is collected annually at a rate of 0.1% of the property’s value. The tax is based on the value of lands, houses, buildings and other constructions built on the land by deducting 100,000,000 riels (USD$ 25,000) from the property in question.The (property) value of lands, houses, buildings and other constructions that are built on the land shall be determined based on the market price by the Property Evaluation Committee established by the Prakas of the Minister of Economy and Finance, according to the General Department of Taxation.Read more in our guide on property tax in Cambodia.Can foreigners own a Borey in Cambodia?Foreigners are prohibited to own landed property by the foreign ownership law in Cambodia that was promulgated on May 24, 2010. Since Boreys are considered landed property, this type of housing is essentially prohibited from being owned by a non-Cambodian citizen.A foreign national can either get married to a Cambodian and name it after their spouse, or gain Cambodian citizenship for themselves after satisfying state requisites.What type of ownership titles are available for a Borey in Cambodia?Cambodia uses three types of ownership titles. These are the soft title, hard title, and the LMAP title — the safest type of title. So, if you buy any Borey homes, it’s best to ask the project owner for LMAP title to be the most secure for your future immovable assets.What do you need to check when buying a Borey in Cambodia?The Cambodian government, through its respective agencies, has cracked down on erring developers who do not have the proper documentation for their projects. But it’s always good to exercise some due diligence on your part. That’s just being a smart consumer!Here are the 5 key legal documents you need to look for when checking a Borey’s legal adherence:Hard Title: You have to look at two classifications of hard titles when dealing with Boreys. The first is the hard title for the whole Borey development. This is called a master title - and will cover the entire piece of land on which the project sits. The second one should be hard titles that are subdivided for each residential unit included in the Borey. These are called individual titles.A legitimate Borey development should be able to produce both of these hard titles to potential buyers. If they can’t show this, don’t put any money down until they do.NOTE: It is also possible for developers to issue a Soft Title for their properties, but it would be in your best interest as a resident to get a Hard Title.Development Company Registration: Development companies will need to register themselves to gain approval from the necessary ministries to proceed with construction. However, construction is not always a sign that they’ve been approved. You can ask to see their company registration just to make sure both the project and the developers can proceed legally.Master Plan Approval: The Ministry of Land Management will need to approve the developer’s Master Plan first before the construction begins. A credible developer will be able to provide you with it or at least show you a copy.Construction License: The construction company then goes through a thorough background check with the Ministry of Land Management. Boreys must have a single registered construction company building the units and infrastructure to ensure consistency and quality throughout the development. Once this has been cleared, the construction company is then given a license.Borey License: The Ministry of Economics and Finance releases the license for the Borey once everything is in order. This means that the developer has satisfied the requirements of the Government in terms of quality, design, sales plans, and documentation.Is buying Borey in Cambodia a good investment?Good investments are always based on a given market’s projected needs - and Cambodians are increasingly demanding more and better homes every year. Land prices for Borey developments have already seen a considerable increase in recent years.According to data from Knight Frank, the average launch price of Borey projects in 2018 amounted to USD$ 715 per square metre. This jumped to USD$ 940 per square metre in 2019. The high-end of Borey developments have seen the biggest jump with 2018 launch prices ranging around USD$ 1,200 to USD$ 1,350 per square metre - this increased to an average of USD$ 1,700 per square metre in 2019.The global pandemic caused some fluctuations in the prices from 2020-2021 according to CBRE Cambodia’s recent Market Overview report.Another factor to consider is that Boreys currently in the pipeline, and consequently, other future Boreys, will be built further away from the city centres (especially Phnom Penh).Considering this rapid outward expansion, established Boreys will definitely see a massive increase in value in the coming years.How do you pay for Borey in Cambodia?The adage “Cash is King” is prevalent in Cambodian transactions. Having your own money in cash gives you good leverage in getting a discount for property purchases in the Kingdom.But if your current situation calls for more immediate purchase, with not enough cash to purchase the whole property, instalment options are also available through bank loans and other licensed microfinance institutions.If you’re getting a home loan, you can get one from ABA Bank, Chip Mong Bank, Vattanac Bank, and many more. To get a bank loan, you need to have regular monthly income, collateral, the hard title of the property, and guarantees.There will also be a background check for the prequalification on a loan payment to the bank.Should you buy an off-plan Borey in Cambodia?Many project developments in Cambodia are sprouting up with a new sales strategy by selling off-plan units. Off-plan means the project owners are selling their projects before and during the start of the project’s construction.Buying a unit on an off-sale plan can be advantageous: You can get a good discount, you can choose your unit in the project before anyone else does, and even influence the design of your house.There is, however, the risk that the development might run into trouble in the future that may lead to the construction being stalled or even cancelled. To help you better sleep at night, we strongly recommend you follow our guide to checking the developer’s legal papers in the earlier part of this guide.Stay up for up-to-date news 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:

The Sales Club of Cambodia (SCC) welcomes to the upcoming forum all the talented people with an interest to learn and improve their sales knowledge and skills.SCC will facilitate successful and experienced salespeople to share their knowledge with the community and the young-generation, allowing ongoing professional sales skills development and the improvement of livelihoods across the overall society.On 12th March 2017, SCC will hold a dedicated forum which will focus on Real Estate Industry opportunities. This will be held in partnership with Mekong Property Management and a selection of Developers and Investors willing to share their investment and development plans with potential salespeople.For this special opportunity, we have invited 5S Realty Group, namely Mr. Chan Sy, Chief Executive Officer; & LHC (Cambodia) Investment Co. Ltd, namely Mr. Charles C. Villar, General Manager. We have also invited Mr. James Whitehead, Director of Content at Realestate.com.kh, Cambodia’s leading real estate website, to present on the potential of the Real Estate market in Cambodia today.At the end of the forum, we encourage attendees to continue their study and apply to become an independent salesperson for all projects, with significant commission opportunities without the commitments of a full time job.Find the latest real estate news now on Realestate.com.kh

Condominium is a non-legal term. It describes a kind of ownership of certain types of private properties (known as ‘co-owned buildings’) where there’s a distinct and separate ownership between individual units and common area co-ownership.A strata title refers to the certificate of ownership for such an individual unit in a co-owned building. There are also a number of laws, policies, and amendments made in Cambodia to safeguard the condominium and strata titling mechanism.Some of these points regarding Strata Titles in Cambodia were discussed during a recent breakfast briefing conducted by VDB Loi in association with PYT & Associates, IPS Real Estate and Yong Yap Properties. The speakers included senior associate and real estate specialist, Mr. Lucas Vosch, VDB Loi Taxation Director, Mr. Robert Porter, IPS Real Estate Country Manager & Condominium expert, Mr. Grant Fitzgerald, and Yong Yap Properties General Manager, Mr. Desmond Yap.Land Law of 2001: The Land Law of 2001 came as a revision for the original 1989 Land Law of Cambodia. The 2001 revision created a provision for the private ownership of land. This also became the starting point for the creation of the land registry system that issues Cambodia land titles that remains in place today.Article 1 of the Land Law states that it “has the objective to determine the regime of ownership for immovable properties in the Kingdom of Cambodia for the purpose of guaranteeing the rights of ownership and other rights related to immovable property, according to the provisions of the 1993 Constitution of the Kingdom of Cambodia.”The law includes the provisions on public and private property, principles of ownership, collective ownership, acquisition of ownership, land concessions, rights and obligations of owners, limited proprietary rights, undivided ownership, co-ownership, joint ownership, immovable property, mortgage, Cadastral administration, and penalty provisions.Law NS/RKM/0510/006:This law generally “provides foreigners with ownership rights over private parts and rights to use and enjoy over the common parts of co-owned buildings.” This law limits foreign ownership to above the ground floor and to a percentage of the building to be determined separately by sub-decree (refer to Sub-decree no. 82 below).  This law contains topics on general provisions, general principles, Acquisition of special co-ownership, rights and obligations of the special co-owners, procedure for registration and issuance of certificate, penalties, and transitional provisions.Sub-decree No. 82:According to official documents, “This sub-decree is to determine the proportion and calculation of percentage of private units that can be owned by foreigners in a co-owned building in the Kingdom of Cambodia.The sub-decree states that “Legally qualified foreigners can have ownership rights in private units of a co-owned building not exceeding 70 (seventy) percent of the total surface-size of all private units of the co-owned building.” It also states that in “issuing a certificate of ownership of a private unit of co-owned building to foreign owner, the Cadastral Authority shall write down on the certificate about the proportion of the surface-size of each private unit comparing to the total surface-size of all private units in co-owned building.”Sub-decree No. 126:The goal of Sub-decree No. 126 is to “determine management and use of co-owned buildings as well as mechanisms and procedures for registering ‘private units’ of co-owned Buildings.”According to the documentation of the same law, “The scope of this sub decree covers all categories of co-owned buildings that were legally constructed in the Kingdom of Cambodia. Only legal or individual persons of Khmer nationality can own private units of a co-owned building unless there are specific provisions stipulating the contrary [refer to laws and sub-decree noted above].”Sub-decree No. 114:This Sub-decree determines the procedures and rules for the application and regulation of Value Added Tax in reference to the supply of services or goods in Cambodia. This law also covers the requirements for registration, registration of investment enterprises, cancellation of registration, credit for input tax, tax invoices, non-taxable supplies for diplomatic missions and international organizations, adjustment of tax amount, supply of goods or services for consumers, supply by an agent, collection of VAT at importation, zero-rating of the export of goods and services, and transfer of a business.Learn more about Strata Titles in Cambodia and the process of getting one!

Cambodia is well-regarded for providing affordable living standards and is complemented by its trademark Asian hospitality. It’s no surprise that the Kingdom of Cambodia has been a choice destination for expatriates for more than a decade. Phnom Penh was even previously named Southeast Asia’s new capital of cool by Lonely Planet and regularly features in global travel guides as a must-visit destination.However, the actual nitty-gritty of settling into the country is not always well-explained. To make your life choice easier, Realestate.com.kh provides you with all of the essentials of how banking works for expatriates in Cambodia!Because living cheaply isn’t merely about spending less, but managing your finances well.Banking and currency in the Kingdom The Cambodian Riel (KHR) is the official currency of Cambodia, however, the U.S. dollar is widely accepted throughout the country. Both currencies are used in everyday transactions; with the USD used for larger transactions and the KHR usually used for smaller purchases or as petty cash.According to the National Bank of Cambodia (NBC), while the KHR is growing in terms of circulation, 80% of transactions in the country are still done using the U.S. dollar.Since 2019, the National Bank of Cambodia has been pushing for the de-dollarisation which has been supported by local businesses with the prices often now showing in Riel. NBC also launched Bakong, a central bank digital currency (CBDC), and has encouraged more digital payments since the global pandemic started in 2020.As an expat, what you do need to know is that all banks support both currencies when it comes to banking in Cambodia.Opening a bank account in CambodiaOne of the best things about expat living in Cambodia is the ease of opening an account with almost any bank. All you need as a foreigner to open an account in Cambodia are the following:A passport valid for at least 6 months.A 1-Year extended visa.A nominal deposit amount (depending on the bank).Bring all of these documents to any major bank and their staff will set you up with your very own Cambodian bank account. During the COVID-19 pandemic, some banks have even started accepting online applications of accounts.However, there are instances of some bank branches/representatives asking for additional documentation as an exercise of due diligence. Better have these ready just in case:A passport-sized photo of yourself (white background).Business patent/license/registration (if you’re self-employed or own a business in Cambodia).A copy of your rental agreement (lease).Proof of employment in Cambodia.So, the question now is, which bank should you go to?TOP 5 Banks for Expats in CambodiaAs a general rule for expatriates, we recommend you pick the bank that is most accessible to you. You can never be too sure when an emergency will arise, hence, we highly recommend that you also adopt this rule-of-thumb.But let’s say you’re in a major city and there’s a wide range of banks well within your area. This is where our recommendation of the best banks for expats in Cambodia comes in, all of which have won numerous banking awards. The banks in the Kingdom have also recently rolled out much better banking apps, contactless cards and digital payment options.ABA BANKPhoto courtesy of Khmer Times, K/T Mai VireakABA also is known as the Advanced Bank of Asia was founded in 1996 is wholly owned by the Montreal-based National Bank of Canada (NBC). ABA Bank serves financial products geared towards individual persons, micro-financing needs, and SMEs.While ABA Bank is not the biggest bank in Cambodia in terms of assets, they do have the most sophisticated online banking app and payment network. Expat communities online generally recommend ABA Bank as the best bank because of the ease of transaction within Cambodia and with personal accounts from their home countries.ABA Bank has branches nationwide, assisted by over 250 self-banking kiosks, and over 450 ATMs available across the country and in most major urban hubs.ABA Bank even offers an offsite bank account opening where their staff will go to your residence, along with the relevant documents to be filled out, to open an account right in the comfort of your home.Minimum Deposit Amount: USD $50 (for non-residents) / USD 10 (for residents)Maintaining Balance Required: USD $10 (both residents and non-residents)SATHAPANA BANKSathapana Bank is a Japanese-owned commercial bank in Cambodia. Its parent company, MARUHAN Corporation of Japan, originally operated in the Kingdom as MARUHAN Japan Bank Plc. in May 2008 and focused on providing commercial banking products and services, aiming at expanding its operation nationwide.In 2012, the MARUHAN Corporation acquired SATHAPANA Limited which was originally established as a non-government organization (NGO) in 1995, and at the time of acquisition, had become a deposit-taking microfinance institution providing funds to the low-income people throughout the country.Today, Satphana Bank has over 170 branches and over 230 ATMs providing reliable banking services as the “People’s Bank” in Cambodia. Sathapana Bank aims to empower entrepreneurs and improve their customers' business and living standards through access to financial services in a sustainable manner.Minimum Deposit Amount: USD $10 for Savings AccountMaintaining Balance: USD $5 for Savings AccountJ-TRUST ROYAL BANK (formerly known as ANZ ROYAL BANK)J-Trust Royal Bank (formerly ANZ Bank) was established in Cambodia in 2005. The bank was initially a joint venture between Australia and New Zealand Banking Group Ltd., and The Royal Group of Cambodia. In 2019, the Japanese J-Trust Bank bought into the partnership and has taken over official operations since August of the same year.Despite ANZ Royal Bank’s limited presence with only over 40 branches nationwide, the bank still boasts an impeccable banking portfolio as acknowledged by the Global Finance Magazine with their 2015 Best Trade Finance Bank in Cambodia. In 2016, the International Finance Magazine awarded ANZ Royal its Best Foreign Retail Bank in Cambodia.J-Trust Royal Bank’s entry into the booming Cambodian banking sector is set to bring the trust associated with Japanese quality.Minimum Deposit Amount: USD $500Maintaining Balance: USD $100BRED BANKBRED Bank officially opened its services in Cambodia in 2017 and is one of the newest banks on this list. It is owned and operated by the BRED Banque Populaire, France’s 2nd biggest banking conglomerate. It is the only French - and European - bank in the Kingdom of Cambodia.BRED Bank Cambodia’s CEO, Guillaumme Perdon, said in an interview with the Khmer Times that the bank aims to break Top 5 or 10 banks in the Kingdom.BRED Bank has multiple branches across Phnom Penh and has branches in other major city centres, such as Siem Reap and Battambang.Minimum Deposit Amount: USD $100 for Silver AccountMaintaining Balance: USD $1 deducted per month as maintaining fee for Silver AccountMAYBANK CAMBODIAMaybank Cambodia first established its operations in the country in 1993. It has since supported multiple sectors of the economy such as retail banking, SMEs, commercial business and corporations. In April of 2012, this Maybank officially became Maybank Cambodia to symbolise the regional bank’s commitment to its stakeholders in the country.It is the choice financier of Malaysian and Singaporean businesses operating in Cambodia - particularly companies focused on infrastructure development and the service sector.Maybank currently has over 20 branches operating in major population centres across the country. The bank has also expanded its services to support SMEs through various loan programs.Minimum Deposit Amount: USD $100Maintaining Balance: USD $10This is just a brief overview of some of the biggest banks in the Kingdom of Cambodia. As to which bank should you choose is completely up to you. Given that bank promotions change over time, we highly encourage you to visit any accessible bank to you and find out which one will suit your needs the best.Now that you know more about expat banking in Cambodia, you might be interested to read our guide to retiring in Cambodia. LOOKING FOR SALE/RENT PROPERTIES? CLICK HEREArticle by:

Selling your home takes a bit of thought process and energy sometimes. And one of the questions that frequently pops up is whether or not you should stick with one real estate agent - or list your property through multiple agents. This is especially true when you’re looking to sell your property fast for whatever reason.Both have clear advantages and disadvantages that sellers may want to consider first before deciding.Listing with Multiple Agents:If you want to make a quick sale, listing your property with multiple agents would seem like a logical choice. There’s a good reason for that. You get more exposure. These professionals can utilize different avenues such as the newspapers, real estate publications, and the internet to spread awareness for your property. More exposure means a gathered interest from a larger audience.This option also means more information about the property is released. Buyers can get to know your property better. Agents today are now also utilizing modern tools and techniques to target potential buyers better.The downside to using multiple agents though is that you’re working with a range of people and various sales strategies that are often times totally different from each other. This also entails that there are different degrees of understanding as to what type of buyers are qualified for the sale. There are self-professed private agents out there who will do anything to close a deal.Hiring multiple agents also means that negotiations will be done in isolation. The ones competing won’t be the buyers but the actual agents. This hurts your cause because you might find out too late that someone else may have made a higher offer.Listing with an Exclusive Agent:The thing about listing with an exclusive real estate agent is that their sales strategy – if it’s the right strategy – can save you a whole lot of time and effort. It focuses in on making sure that you get a good deal without demanding too much. This also offers the agent more flexibility to adjust their strategy based on your needs and on buyer feedback.You can hire a professional that specializes in your kind of property too. It is important to note that one effective person can outdo a hundred ineffective ones. Make sure you choose your agent wisely.Having an exclusive real estate agent also makes it easier for the buyer. Buyers would rather think about their personal needs more than they think about which agent they should contact. Keeping everything singular eliminates any possibility of confusion and makes it more convenient for buyers to make an offer.Exclusive agents also sometimes package property management services into the mix as a form of incentive. This is something you won’t get from multiple agents.The downside to this is that information about your property is limited to the stream of influence your agent has. Your reach is much more contained. There is also the risk of running into “commission cowboys”. These are self-professed private agents who will do anything to make a sale. This doesn’t always get you the best buyers.Remember that you will also play a big role in the process no matter what option you choose. What system you think will work best for you and how much effort you’re willing to put into the process is entirely up to you.  Choose wisely.Find Cambodia’s best real estate agents on Realestate.com.kh!

This article was provided by Desmond Yap, General Manager of Yong Yap Properties. It seems like the directive of H.E. Kong Vibol, Director General of GDT,  presented in Cambodia’s first Tax Forum in September  is swiftly moving into action, with officers checking rental contracts of commercial locations for VAT and now what appears to be the introduction of a soft titled property transaction tax.We will unofficially call this a “stamp duty” tax for now.At the start of the week, Sreyleak EnChan, Yong Yap’s star consultant, was processing a new sale transfer at the sangkat office (local authority) when surprisingly, a new procedure was in place to transfer, with the need for the Ministry of Land Management, Urban Planning and Construction (MLMUPC) and the General Department of Tax (GDT) to be involved.Yong Yap Properties have met and discussed with the four main sangkats of khan Daun Penh in which they specialize in, along with verifying as much as possible with the khan and other related sources, the procedure now appears to be the following:Register to transfer property at your local sangkat office as per usualThe local MLMUPC office will be informed and an appointment arranged to inspect and measure the propertyA stamp duty tax invoice will be issued for the vendorOnce the sangkat has confirmed payment from GDT, the title process can continue as per normal to the khan.The additional costs appear to be $50 for MLMUPC to measure and issue invoice.  Stamp duty tax appears to be $6-8/m2 for the internal size of the property.  For the standard one bedroom flat, you would be expected to pay an additional $400-$700.  Transfer time is now expected to take 4 – 6 weeks, previously 3 – 10 days.This has come as no surprise as there has been rumors of imposing stamp duty tax on soft title properties since the start of the year.The surprise (or lack of in Cambodia) is that in typical Cambodian style, this law was enforced overnight without information passed onto the public or even the local authorities handling the situation, causing much frustration in the industry.Looking forward, if all our findings are correct, we hope this will bring more transparency and confidence in the security of soft titled properties to the market.  ACLEDA is the first major bank to provide loans for soft titled properties, with this additional tax registration, it should lead the way for other major banks to follow suit.See original story here.Find out more about land title in Cambodia on Realestate.com.khClick here to download your free copy!

The General Department of Taxation (GDT) has extended the deadline for owners to settle their immovable property tax.  The usual deadline is September 30 every year. This year’s deadline has been extended to October 31, 2016, a month longer than the usual date. “Property” is referred to lands, houses, buildings and other constructions that are built on the land.The GDT has already issued two official notifications, numbers 12723 and 13466, reminding all owners of immoveable property to submit their Property Tax Application and pay their tax.Notification No. 13466 ordered owners of registered immovable property to pay their 2016 tax at any tax office or branch of Canadia or Acleda Bank, using the receipt for their 2015 property tax payment if the size of their property had not changed size, been separated, demolished, or changed hands. If any such changes have taken place then owners must inform the GDT so the department can update its records for any potential additional tax payments.Note that the failure to register immovable property and pay tax may result in penalties in accordance with tax regulations.The purpose of the law is to rationalize the use of land and to benefit the sub-national administrative budget. The property tax is to be imposed in all municipalities and provinces of the Kingdom and applies to immovable properties valued in excess of one-hundred-million Riel (25,000 USD).Property Tax baseThe tax is to be collected annually at a rate of 0.1% of the value of the property. The value of the properties will determined on market prices as evaluated by the Property Evaluation Committee established by the Prakas of the Ministry of Economy and Finance.Property Tax Calculation: an example from Cam Accounting & Tax Limited is a leading audit firm (Chartered Accountants) in Cambodia which offers Tax, Accounting and Audit Services.Mr. Heng owns one three-level building (E0, E1, and E2) of 4m x 16m with a total land area of 10m x 40m. The market prices per square metre would be evaluated by the Property Evaluation Committee as follows:Land price: $400/m2 Ground floor (E0): $120/m2 First floor (E1): $80/m2 Second floor (E2): $65/m2 Land price: $400 x $400 = $160,000 Ground floor (E0): $64 x $120 = $7,680 First floor (E1): $64 x $80 = $5,120 Second floor (E2): $64 x $65 = $4,160 Total price of property: $176,960 Property Tax = (80%* of Price of property – $25,000) x 0.1% = ($ 141,568 – $25,000) x 0.1% = $ 116.5 The information in this article was provided by Mr. Keat Heng (ACCA, CPA), Managing Director of Cam Accounting & Tax Limited.Contact Cam Accounting & Tax Limited for further assistance. The company will assist you with your immovable property and any payments you are required to make, calculating the amount of tax due by calculating the amount of property tax payable and submitting the correct payment to GDT.For further information or assistance, contact: Cam Accounting & Tax Limited Head Office:Head Office: Room 508, 5 Floor, Bayon Market, No. 33‐34, George Dimitrov (St. 114), Sangkat Monorom, Khan 7 Makara, Phnom Penh, Cambodia. Phone:(855) 97 5555 298 E‐mail: partner@cam‐at.comLearn more about Cambodia property tax by watching this video on property tax on Realestate.com.khClick here to download your free copy!

According to a recent August 5th 2016 “Reminder Notification from the General Department of Taxation to Property Owners to Comply with Prakas No. 493 SHV. BrK concerning Property Tax Collection” all property owners in Cambodia need to be aware of their annual property tax obligation. The reminder states that payment for annual property tax is due no later than 30th September, 2016. Anthony Galliano, ceo of Cambodia Investment Management, notes that, “Although the obligation for all property owners to make an annual payment of property tax was reinforced since Prakas  NO. 493, dated 19th July, 2010, there is still a degree of non-compliance and outright avoidance. Being a non-corporate tax, this is one of the very few direct personal taxes, and the average Khmer remains reluctant, making enforcement within the general population much more complicated.” Nevertheless, the tax should be paid, and non-compliance is increasingly being punished. In the “Reminder Notification” the GDT notes it has observed that some property owners have failed to comply with this annual tax obligation and the GDT encourages those property owners to pay the property tax by the approaching deadline. Failure to do so in punishable by law. Learn more about Cambodia property tax today on Realestate.com.kh!

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

Internationals are increasing looking to invest their money in the Cambodian real estate market. According to the Ministry of Land Management, Urban Planning and Construction in the first 9 months of 2015 investments in the real estate and construction sector had a combined worth of $1,752 million, as compared to $1,540 million during the same period in 2014, which means an annual increase of 13.8 percent. This is great news for the new developments market! According to Knight Frank Cambodia’s research, namely the Cambodia Real Estate Highlights 2nd Half 2015, the top five investing countries bringing capital to the Cambodia property market were Korea, China, Japan, Britain and Malaysia. Meanwhile, international buyers are particularly motivated to secure property in foreign markets, with around 60 percent buying property with cash up-front.  The world is changing fast, and people are happier than ever to live, work and invest outside of their home nations. In fact, according to the United Nations, around 3.2% of the world’s population has already made the move to live outside their country of origin. This is one reason the international property market is getting hotter everyday. At Realestate.com.kh, through our developer’s marketing packages, we easily and automatically help Cambodian property developers enter the lucrative international property market, make international real estate connections, and, ultimately, sell property to wealthy international buyers – all without leaving their computer chair. Established in 2009, Realestate.com.kh is a website business focused on helping people buy and sell property; and developing the Cambodian real estate market’s exposure to the world! All the leading real estate developers in Cambodia are working with Realestate.com.kh to develop their marketing strategy online and offline, and we are generating qualified sales leads for them everyday. For property sellers there is no need to waste your time and money listing property on other classified websites where user traffic is not related to property. Realestate.com.kh is ranked number 1 for search results on google.com and google.com.kh for almost all property search keywords related to Cambodia. Our website is also mobile and tablet optimized, which is perfect for Cambodia where this type of traffic holds a large market share. Meanwhile, we harness social media marketing to push your property to a wider audience, with over 70,000 Facebook followers and an audience of over 20,000 on LinkedIn. Realestate.com.kh also has a high level of traffic from international investors, around 30-50% of all organic website traffic. But in addition to this, for those developers that choose to list on our site we can also export that listing to international property portals around the world. Realestate.com.kh has an exclusive listing partnership with the Property Guru Group, Asia’s leading online property portal group used by more than 11 million property buyers and generating over 500,000 enquiries every month – as the market leading website across Singapore, Malaysia, Indonesia and Thailand. Your listings will be co-listed on all of these Property Guru websites when you list on Realestate.com.kh, generating high quality international sales leads for your sales team or exclusive agency! Furthermore, ListGlobally, another co-listing partner of Realestate.com.kh, is the largest international real estate advertising network in the world and publishes property listings on over 50 leading property portals around the globe – including famous websites such as I-Property Singapore and Malaysia, Realestate.co.jp in Japan and many, many more. Your new development will appear on every single website in the ListGlobally network! When you work with us, Realestate.com.kh also co-list your new development on Juwai.com, the leading property website in China for Chinese interested in International Property Investment. Second only to the USA in terms of international buying power, Chinese buyers represent a tremendous new market opportunity for property sellers in Cambodia and Realestate.com.kh capture this traffic for you through our connection with Juwai. Chinese property buyers are also renowned for paying in cash! Juwai.com is the only international property portal hosted on both sides of China’s Great Firewall, and your listing will be translated and optimized to suit the Chinese market.  Also, early bird discounts are still available for the “Emerging Markets Property Show” in Singapore, a property expo organised by Realestate.com.kh and the Property Guru Group, on the 8th and 9th of October 2016. Cambodian developers can exhibit their projects and close deals with international investors. If you are interested in attending or exhibiting your new development project visit or call Realestate.com.kh on 095911466, 069 436756 or 017 436756, or email info@realestate.com.kh.  Harness the online revolution that is spreading across Cambodia and the globe – and get your listings sold to international investors on Realestate.com.kh today, Cambodia’s home of real estate.

Nobody likes to think about money! But, in order to save for your new home, you will need to budget. And this budget only gets harder as your family grows.Wondering where to start? Realestate.com.kh has created the following guide to creating and sticking with a monthly budget and we have even created an online Budget Planner to help you! We believe every Cambodian should be able to afford a home and this is our way of helping you to keep more money in your pocket and getting a handle on your finances so that you can make your new home a reality.How to Budget for a HomeThe following are a few basic budget tips to help keep more money in your pocket and get a handle on your household finances.First of all, list your monthly income — including everything that earns you money. List all of the costs you have to pay each month — Including rent, power, gas, car repayments, school uniforms, food etc. In short, anything that is a necessity in your and your family’s life.List all of the costs you can avoid from the previous list — this includes all things that are not necessary in your life, including entertainment, take away food, fancy new clothes, travel etc. This represents your “expendable income”: money that doesn’t always need to be spent! It is very important that you and your family are honest about what you don’t really need, if you are serious about saving.Now that you have defined what you HAVE TO PAY and what YOU LIKE TO PAY each month, you can control your budget for the next month by reducing your expendable income spending.Subtract your necessary costs from your total income to see what remains for the next month’s budget. This figure is the amount of money you can potentially save each month if you control your spending habits. Completing this exercise should help you review your spending patterns and make better financial decisions. The better your budget, the more control you can have over your monthly savings.    Looking for property in Cambodia? Let us help!

Here are some clarifications of the most common misconceptions surrounding foreign property ownership in Cambodia for non-Cambodians.Foreign nationals are unable to buy land freehold within Cambodia as according the the Land Law 2001 and the Cambodian Constitution unless a landholding company is set up with the majority of shares being held by a Cambodian citizen or citizens.Alternatively, foreign nationals are able to acquire land on long-term leases as an alternative to foreign property ownership in Cambodia. These long-term leases for a foreign owner have a maximum lease term of 50 years as determined by the civil code established in December 2011. These leases can be registered at a national level with the Ministry of Land Management Urban Planning and Construction. Long-term leases are a compromise chosen by many international investors due to the difficulties of foreign property ownership in Cambodia. Learn more about long term lease law.It is extremely important to remember that it is illegal for foreign nationals to own a property under soft title.However, due to a common misinterpretation of the Law on Foreign Ownership by local authorities across Cambodia, some sangkats (local councils) are currently allowing foreigners to purchase property under soft titles in their own names.In addition, this misconception is supported by some agents and brokers who mis-advise their foreign clients as to the true nature of their soft title, claiming that it in fact represents full ownership. However, not all sangkats allow this. Boeung Keng Kang Sangkat, for example, will not allow a foreigner to be represented on a soft title whatsoever.Furthermore, a sangkat officer can interpret a soft title as they wish.  As David Murphy, Director of IPS Cambodia, explains, ”Sangkat Officers are publicly elected officials who stand for election every five years. This means that when a foreigner owns property under a soft title in their own name, there is a significant risk that any change in the elected officials of the relevant sangkat may result in the correct interpretation of the law, jeopardizing or voiding that foreigner’s effective ownership.”To protect from this misunderstanding, ensure that you always conduct a title search with the relevant Ministry of Land Office or Commune Office before purchasing property. Such a search should confirm who holds the title to the property and reveal any registered mortgages or other encumbrances on the title.Keep in mind, as the land buyer; you may not be given the actual title to conduct the search, because this is the seller’s only evidence of ownership. The buyer will instead get given a copy of the title, so it is important that you confirm that it is the most recent copy.Foreign Property Ownership in Cambodia may not be simple, but it is increasingly possible. Always do your due diligence and take your time, and soon you will achieve foreign property ownership in Cambodia, and gain a valuable property asset.Learn More: “Cambodian Land Title Classifications Explained, Once and For All!" & "Can Foreigners Own Land in Cambodia?"