Stepping up to purchase your very first investment property represents a large financial commitment, and is probably one of the first major financial risks you will take in your life. So, how do you ensure you are not buying a lemon when looking for your first investment property? Here is the right start from Realestate.com.kh: Start by asking the following 3 questions!1. Do you know your own strategy?The basis of a successful investment property is having and practicing a clear strategy. Always consider your "bigger picture" first and foremost. Consider what you are looking to achieve through your investment property: Are you looking to create a supplement to your income in retirement? Or, are you looking to improve your cash flow in the short term? Alternatively, you might be trying to improve your equity position in order to consider buying more properties? First be perfectly clear on the "WHY?" question... Only then you can think about the ‘HOW?’. This means, if it is cash flow now you want, then you had better target cash flow positive properties. Trying to improve your equity position? Perhaps you need to renovate and flip a property. Whatever the why, you must be perfectly clear about how you’re going to make money from the investment property before you start investing.2. Know your finances, perfectly: Always plan your exact budget, before you even start surfing property listings on Realestate.com.kh. Here's why: If you are considering your first investment property purchase, you’ll need to have enough cash to cover the deposit and any additional purchase costs, such as transferring the title. Even if you’re using equity in your home to cover the deposit, you’ll still need some additional capital to cover the purchasing costs. Always be very clear about your precise borrowing capacity because understanding how much can you borrow is critical! It’s pointless looking for a property until you know what you can afford to buy. Only then can you work out your borrowing capacity using the realestate.com.kh calculators. Also, you had better not forget to add in purchasing costs, as well as including the headline cost of the investment property. For example, land transfer fees can be anything up to four per cent of the purchase price. You should also factor in legal fees, loan establishment fees and property inspection fees, as all these buts and pieces begin to add up.3. Know the buying process inside out: Each country’s investment property purchase process is unique, and even within the different provinces of Cambodia, buying requirements can differ slightly – you should understand how these work in your area and in relation to your investment property.Here's a guide to land title classifications in Cambodia, and a guide to transferring ownership rights in Cambodia, thanks to Realestate.com.kh. The three steps above may seem like small considerations in comparison to the actual house hunting and inspection process. However, successful property investing is not about falling in love with a house and buying it. Keep these three steps in mind and be fully prepared to make a wise financial choice when you take the plunge on an investment property.Want to learn more about investing in Cambodia? Check out Realestate.com.kh now!Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

ANZ Royal Cambodia and Realestate.com.kh are working together to make your dreams of owning a home a reality. We want to help all Cambodian's leverage their finances effectively to improve their life, and the life of their families, today!Realestate.com.kh is the number 1 property portal in Cambodia, with over 15,000 properties for rent and sale, and attracting 1000's of visitors everyday! [caption id="attachment_79387" align="alignleft" width="259"] Realestate.com.kh are on ANZ Royal ATM screens across Cambodia![/caption] A standout feature of our website is being able to apply for a home loan directly - and you can even use our clever home loan calculators to work out how much you will likely need to loan, based on the price of the property you are considering. Once you know the value of your dream house or commercial property, with Realestate.com.kh you can apply for a loan directly to ANZ Royal Cambodia with the click of your mouse. This process makes getting a home loan easier than ever before - all from the comfort of your home, office and even from your mobile phone! Find out more today about how you can finance your dream home with ANZ Royal and Realestate.com.kh, Cambodia's home of real estate.

Plans for a ASEAN Railway network are beginning to solidify, with China pushing the long-stalled project into action in recent news and signing an agreement with the Laotian government. If this railway ultimately extends to Phnom Penh, the real estate market should certainly see benefits.The ASEAN Railway plan, however, is not a new story. As long ago as 1995, the Association of Southeast Asian Nations leaders first proposed constructing a region wide railway because it seemed the best alternative to unsuitable road connections which are currently linking the region. Faced with wide disagreements between Southeast Asian nations over how to proceed to actually implementing the ASEAN Railway plan, and a shortage of funds, however, the railway talk soon subsided to silence. But then entered China; a country which has long prided itself on pushing through fantastical ideas to completion. With grand visions of Chinese engineered trains moving the region forward, economically and politically, recent reports confirm that China is now willing to come to the party with the money and expertise to drive the project ASEAN Railway to a more serious planning stage. "The length of China's high-speed railways in operation has reached 16,000km, accounting for more than 60% of the world's total," said Chinese Premier Li Keqiang in his March 5 opening speech to this year's session of the National People's Congress. After this announcement, Li followed by saying that China would now step up efforts to expand rail links abroad. It is no secret that an ASEAN Railway is what Li had in mind by this expansion. Since becoming Chinese premier in 2013, Li has continuously visited the region and, while in the various nations’ ears, has served as an unofficial salesman for Chinese railway businesses. Li has suggested that these railway businesses are well-positioned, and now well-experience, to take advantage of new opportunities to the south of China. State-owned China CNR and CSR are the world's two biggest railway makers as measured by sales, and recently have agreed to merge. These Chinese state-run companies enjoy many cost advantages in their railway operations - as they are able to handle everything from initial railroad placement and design, right through to track-laying, station construction and full-system installation. Chinese companies are suggesting that they can accomplish all these tasks at 50 to 66 percent less cost than Japanese, U.S. and European rail rivals. For Southeast Asian countries with budgeting priorities, China looks like a worthy partner for any ASEAN Railway projects. Early this month, China and Laos reached agreement to build a 40-billion yuan ($6.28 billion), 418-kilometer railway from Kunming, the capital of southwestern China’s Yunnan province, to Vientiane, Laos capital, according to the official China Economic Herald report that followed a signing ceremony. The ceremony was attended by the National Development and Reform Commission, China Railway Corporation, and Export-Import Bank of China. According to Chinese media, China will cover 70 percent of the necessary investment for the new line, while Laos will be responsible for the remainder. Once in operation, the railway will be Laos’ longest and fastest yet, with an average speed of 160 kilometers per hour and 60 percent of the line being bridges and tunnels. The next step for China’s Silk Road railway is yet to be seen, and the world waits to see whether a full-scale ASEAN Railway will become a reality.

Realestate.com.kh has taken a look at the positive and negative sides of wood vs. tile floors for your next kitchen. Which are the easiest floors to clean? And which one, wood or tiles, brings the most value to your house? Are there any unexpected side effects if you choose the wrong floors for your next home? Wood Floors:When you go with wood for your floors, everything old is new again! Wood is popular again these days, just like the old days, and there’s no reason that classic look shouldn't cover the rest of the home's floor for a seamless look and feel. The Positive Side of Wood Floors:The Look is Superb: It may not suit every house, but wooden floors can quickly bring class to your kitchen, and value to most properties.Accentuate Modern Features: The clean lines of wood floors add a seamless polish to any home - if done well. Wood can help an area feel homey, warm and welcoming.Less Sneezing: Carpets and other coverings can create problems for those who react easily to dust in the air. Pet hair, dirt and dust don’t stick to wood so easily, so may offer relief to all you sneezers out there.Sustainability: When looked after properly, wooden floors will last longer - and natural floors are generally more environmentally and family friendly than other synthetic flooring materials.The Bad Side of Wood Floors:Extra Attention: Wooden floors require extra care and attention, especially in a messy zone like the kitchen. They might be easier day to day, as they accumulate less dust, but you’ll need to treat them better over the long term if you want them to keep looking good - and take care not to use damaging cleaning materials.House Sounds: Your wooden floors are a living thing which will creak, bend, absorb and breathe. This adds character to any house, but may also create noises, cracks and other surprises. Be careful during the installation that the wood not only fits according to outward appearances, but that will continue to feel, sound and behave the way you expect over time.Damageable: The kitchen is a a busy place and often a dangerous place for flooring - and hardwood floors show their scratches. If you run a very busy kitchen, you might want to try synthetic laminate floors instead - cheaper, and easier to replace when damaged. They offer a similar effect if they are printed like wooden floors, with much less vulnerability. Wood reacts badly to moisture too, so make sure your kitchen can deal with any water damage quickly - or your nice flat wood floor won't look so cool (or flat) anymore.Pricey: Good wood ain't cheap, and you need to make sure it is put down right!Tile Floors:Tiles have been kitchen favorites for-almost-ever. The colors and textures available are almost endless too, so tiling can be a lot of fun - and easily adjusted to your interior decorative tastes. The Up Side of Tile Floors:Hardy: Unless you literally throw the kitchen sink on them, tiles can happily support years of foot traffic in your kitchen.Complete Design Flex: Lighter colored tiled floors can make a kitchen seem bigger, darker tiles on the floors can add contrast and shade. Smaller tiles are great for featured patterns, and larger tiles help a kitchen feel bigger. These hacks are all available for your kitchen when you choose tile floors...Hot and Cold: Tiles keep you cooler in warm or hot weather, and hold the heat longer when it cools down at night.The Pits of Tile Flooring: Limited stock: They stop making some styles of tiles regularly, which can fast leave you up the creek with no paddle. This means that it can be hard to find a match if you need to replace or repair tiles on your kitchen floor in future.Ease of Cleaning: While you might think that tile floors are going to be easy to clean - think again: Tiles can be very sneaky when it comes to stains. Some lighter colored tiles can stain easily if you don't clean them fast enough. For this reason, it is best to avoid bright whites tiles for your kitchen floor - or buy a set of tiles with maximum stain resistance. Heavy textures, with cracks and imprints, may also catch dirt and sticky substances - making the cleaning job much harder than first expected. Slate tiles will take extra time and care to really clean.One Drop and the Gig's Up: Drop your plate or glass and you’ll soon see how forgiving tile floors are... Tiles are not a drop friendly surface. If you want tiles, but fear breaking your priceless china, try adding rugs or carpets in the high traffic zones to offset the risk of smashage. A few less wines before doing the dishes can also pay off...Want more articles like this? Visit Realestate.com.kh now!

Without even considering HOW to buy into a booming real estate market, many people question whether it is a wise decision to buy into a property boom at all - and this is a fair reaction...It is also a question which is highly relevant to the current Cambodian property market, as land prices skyrocket in urban hubs such as Phnom Penh and central Siem Reap.To answer whether or not you should buy into a property boom - there is no perfect answer for every potential investor - as whether you should, or should not, buy during a property boom will depend almost entirely on your unique circumstances.  Each type of property buyer has a unique set of considerations before deciding whether to buy during a property boom.With that in mind, Realestate.com.kh wants to advise each type of property buyer respectively:The "First Home" Buyer; should you buy during a property boom? First home buyers are generally the most price sensitive type of buyer, because they may not have any equity (current properties) to use for a mortgage on their next property investment. Therefore, they are usually dependent on only their deposit savings to buy a new property. For this type of buyer, deciding whether to ride a property boom, comes down to only buying when you can actually afford to. First time home buyers have likely delayed their purchase, hoping that the market is going to adjust - downwards. However, unfortunately, in a property boom, delaying a purchase on a rising market often only costs the first home buyer more in the long run - as the average property prices don't stop growing. Keep in mind that property investment is for the long-term, even in a property boom, so the most important thing is to save hard for a larger deposit and avoid mortgage commitments, if possible. Then, aim to buy a property in a good position where you can add value over time.A "Change of Scenery" Buyer; should you buy during a property boom? In general - most people moving, will move to another property in their local area. However, many people look to escape the congestion of urban areas as they begin to grow up - in search of a quieter life on the outskirts of the city, suburbs, by the beach, near a forest or on a farm. Making a successful lifestyle-change property purchase will depend on how familiar you are with that new market, as well as the state of the property market in which you are selling your current property. Strong selling conditions in central Phnom Penh, for example, the extremely well-valued Chamkarmon district, mean it’s the perfect time to sell for those considering a lifestyle change property - and wanting to move to a location outside the central city: for example, trade in your high-valued villa property in BKK1, for a Borey home along Chea Sophara Road. Usually, prices are lower in areas outside the city, so selling in the city and moving to the country right now, during the property boom, means your purchasing power will be maximized. You should be able to get a bigger and better property with more privacy, and be near mortgage free - because you current home's sale should cover purchase fees. No mortgage would also improve your lifestyle, remember, but you might be trading this pressure for a slightly longer commute to work...The "Down-Sizing" Buyer; should you buy during a property boom? The down sizer, those people looking for a smaller, cheaper home, is often in the best position to buy their next home during a property boom. The chief example of a down-sizer is the retiree. Like an property up-grader, they tend to be selling at the same time as they are buying. However, the down-sizer is lucky that their new home tends to be worth less than the one they are selling. Strong demand will assist this type of property buyer, such as that present during a property boom - because it means a maximum sale price is available. With property boom conditions helping to assure a strong result, retirees and other down-sizers are more likely to be in a position to put some money in the bank and buy a less expensive retirement property.The "Property Investor"; should you buy during a property boom? Every property investors needs to ensure the money-return is sufficient before taking the plunge into even a property boom market. In a rapidly rising market such as Cambodia, that means keeping a strong head and not getting caught up in the boom fever. One of the main factors influencing your decision of whether to buy in a booming market, as a property investor, will be whether you will also be selling in a booming market, since capitalizing on demand for your existing property will boost the cash you have available to fund your next purchase. Consider your circumstances seriously before stepping into even a booming market - and consult a financial adviser to help make the right decision.Read more about how to approach property investment decisions, on Realestate.com.kh today!

Here are the top 6 reasons why Online marketing should be the #1 tool to grow your business, real estate agency or new development sales force... and why it can ultimately replace traditional sales methods. Online Marketing for property sales allows your business to Test Ideas Quickly:Online marketing campaigns are quick and easy to set up, and they can be switched ON and OFF with the click of a mouse. You can also have more than 1 variant running in parallel at the same time - split testing - which allows you to directly compare 2 marketing campaigns at once. Therefore it is very quick to test new ideas.Fast to Scale Up:Once you have a new Online Marketing Campaign working well it is easy to replicate it at a much larger scale - because with all the data and analytic's at your fingertips, you know exactly what worked, and what did not work. This makes online marketing campaigns perfectly suited to scaling up.Push beyond Your Tradition Reach:The internet helps you to reach people anywhere in the world. Your target market expands dramatically when you can reach people beyond your actual location - especially if you are looking for international property investors. With Online Marketing you can engage with someone, who knows someone, who knows someone you know in just matter of seconds - and across thousands of kilometers. That is the power of social networks and online marketing. If you have a small network of 450 contacts online, your potential to expand this network through online marketing is massive.Online Marketing beats Cold Calling because Your Sales Leads are Qualified and Excited!Knocking on the doors of strangers with cold calls or emails means they don't know anything about your service or properties - and this makes sales progress slow. With online marketing your customer knows all info before they reach you, and they are excited! Which client has a better chance of direct sales? Digital marketing helps you to build a pipeline of "inbound" sales leads that are easier to convert into a sale because all the educating and convincing is already done before you talk to the prospective client.  It is always more rewarding when you meet people who are looking forward to talk with you!Online Marketing comes at a Lower cost compared to traditional ways:Using the internet to find real estate buyers is much more cost effective compared to other mediums simply because internet infrastructure is much much cheaper compared to physical infrastructure. And the best part - you only pay for what you use, and you can start small!Build a "brand" through Online Marketing to stay ahead of the pack:It gives a strong competitive advantage when you can differentiate yourself against competition by branding yourself online, and online marketing helps you to create and promote that brand very easily and very cheaply.In conclusion, online marketing can be a very powerful sales tool for your real estate venture, whether you are an agent or property developer, for just two key reasons - Firstly, it helps you to TEST ideas, and it helps you to SCALE things up. These are the two key components of marketing success - and they are right in front of you! However, having said that - don't forget 2 things:A Sound Business Model must come first:You must have a solid business model built around customer value before you can think of online marketing. Online marketing will not replace or improve a bad business idea.Don't forget Traditional Marketing:This is no argument of Online Marketing vs. Traditional Marketing. Add traditional channels of marketing as your business grows, but start with digital for the reasons above. Interested in checking out online marketing that pays? Check out our guides now!

First came artificial islands off the coast of Dubai, and the next stage is building villa homes that will be sit half above, and half below, the water. A first for the world property market! A developer, known as the Kleindienst Group, is now set to build the villa project. Each Villa home will have two floors above water level - and one beneath - as part of The World islands project, known specifically as the Heart of Europe. The 1,700 sq ft villas, expected to be finished in 2017, have been introduced at the price of Dh5 million, on a construction-linked payment plan. Read more of the latest real estate news today, on Realestate.com.kh

Diamond Island, known as Koh Pich in Khmer, is a piece of land located just a few kilometers south of the merger-point of the Mekong and Tonle Sap rivers. Diamond Island is separated from Phnom Penh’s Tonle Bassac area by just a narrow channel and connecting bridges. Now covered in the widest and least-congested roads in central Phnom Penh, this island is filling up quickly with residential, retail and hospitality projects aimed at affluent locals and foreign investors.

Sihanoukville has long been a part of the government’s plan to develop the Southern coast as Cambodia’s next tourism hotspot after Siem Reap, and if recent arrival numbers are anything to go by it seems to be growing in appeal. However, as new property developers and casino operators descend on the city, and as budget backpackers continue to zip past to the beaches of nearby islands, it is yet to be seen how the development will play out and what crowd it will bring in. In the first eight months of the year Sihanoukville airport handled a total of 65,698 passengers, with total arrivals at 35,882, up 149 per cent and 140 per cent year-on-year, respectively. Check out properties for RENT in Sihanoukville now! But as nearby islands such as Koh Rong and Koh Rong Samloem become more heavily marketed, and with the amount of visitors increasing every year – including tourists from other Asian countries –Sihanoukville still looks scarcely more than a forgotten seaside town. Ho Vandy, a tourism expert and former co-chair of the Private and Public Sector Working Group, said the city has been neglected and outpaced by visitation to the islands, which is largely apparent in the low season. “There needs to be more attractions such as theme parks and special places to visit to get more tourists all year round,” he said. But beyond the view of sleepy restaurants along Ochheuteal and Serendipity beaches that offer nearly identical sun-bleached and faded menus, Sihanoukville has a growing property sector driven by largely Chinese and ASEAN investment that could pick up the slack during the quiet periods. Check out properties in Sihanoukville, on Realestate.com.kh! One industry that appears to be taking off more than others is gambling, as integrated hotel and casinos aimed particularly at the rising number of Chinese visitors, multiply. Ros Phirun, spokesman for the Ministry of Economy and Finance, said the number of licensed casinos operating in Sihanoukville has doubled since last year to 15, with an additional five applications pending approval. “Before, casinos were mainly at the border but as the economy grows and more tourists visit the coast more casinos are opening… and for first time Chinese are going to the seaside to look for opportunities to invest,” said Phirun. Sihanoukville’s casino boom now puts the city on a par with Poipet, near the Thai border, in terms of the number of licensed facilities, though, still lags behind in volume. But this could change as Chinese arrivals continue to surge. From January to August of this year, arrivals from China to Cambodia totalled 461,518, up 26.5 per cent year-on-year and accounting for 15.2 per cent of total arrival numbers. These numbers have secured China’s place as the second biggest source market behind Vietnam. With Sihanoukville International Airport now operating flights from South Korea, Singapore and China, as well as daily flights to Siem Reap, the coastal city totalled more than 1 million visitors during the eight-month period, boosting its connection not only China but the rest of Asia. Phirun says the casinos, lit up at night in Chinese characters, predominantly do business with online games rather than face-to-face and that the growth of casinos will hopefully draw in more business tourists with greater spending power. “Sihanoukville previously attracted local tourists who mostly visit on the weekend and during the holidays, which means business is very slow during the week. If the city can attract more investors in gambling, then construction, hotels and a bigger tourism business will grow accordingly,” he says. But despite the economic potential of hotel and casinos, the country’s gambling industry has long maintained a murky reputation, while Sihanoukville rarely makes positive headlines. Check out properties in Sihanoukville, on Realestate.com.kh! Earlier this year, there was a highly publicised incident involving a group of armed men launching an assault in the Queenco Hotel and Casino to extort money from music festival organizers. The music festival, Kazantip, which had for years been held on the Crimean peninsula before shifting to Georgia, was eventually cancelled after what government had deemed it an “indecent” and “illegal” event. Meanwhile, casinos in the border towns of Bavet and Poipet have been dogged by stories of kidnapping and extortion. Yet, the absence of law, oversight and bad press has still attracted brisk investment amid relaxed regulations and fewer restrictions compared to neighbouring countries. Check out properties for RENT in Sihanoukville now! The Post reported last month that a senior official in Cambodia’s anti-money laundering agency said the body lacks the resources to investigate or penalise financial institutions that break the law, leaving the country open to exploitation by organised crime. But at the moment, it seems any investment is good investment explained Luu Meng, President of Cambodia Hotel Association. He said that with Chinese investors taking risks by building large scale properties, this could hopefully lead to diversification within the market when more cautious investors show interest. While he said it is important to have a balance of regional and foreign investors, regardless “Sihanoukville has been waiting for many years for someone to start it off...and it’s always good to have more tourists looking for different things,” he said. “It’s always good to see construction going on and it’s a good indication there will [be] even more development because more than a year ago Sihanoukville was so empty.” However, it’s not just casino operators that are looking to cash in on Sihanoukville’s growth. The city has caught the attention of major property developers. Earlier this year Cambodian property and hotel conglomerate SGPD Corp. broke ground on The Sunshine Bay, a 31-storey mixed development with three towers comprising 900 units, water parks and bars, to be located on Independence beach. Prices per unit start from $123,000. The developers reportedly sold more than 200 units before the groundbreaking ceremony in May to Taiwanese, Chinese and Cambodian investors. Another such property is D’Seaview, a 735-unit condominium backed the Singaporean agribusiness company HLH Group Ltd under their newly formed Camhomes branch, will be located near Sokha Beach. Through private subsidies the company is marketing units as low as $33,000 for Cambodian citizens. Construction on the project is expected to begin later this year, with a completion date of 2018. Ross Wheble, country director for global real estate consultancy firm Knight Frank, said Sihanoukville’s first real condominium projects are aiming to bring international standards to the city and breaking a long spell of inactivity and relatively flat land prices. Check out properties in Sihanoukville, on Realestate.com.kh! “This in part can be attributed to the increase in scheduled flights to Sihanoukville Airport which is only going to increase over the medium to long term, in addition to the growth of the industrial sector and the increasing number of [special economic zones],” he said in an email. The inflow of investment is also seeing Sihanoukville’s popular beach, Otres, gain interest as higher-end hotels offering luxury amenities set up in the stretch farther away from the city called Otres Two. “Presently, Sihanoukville itself does not have so much of a good reputation and Serendipity Beach is not the best. The reason we are seeing development at Otres Beach is that it is catering to the more upmarket/family tourist segment as opposed to the backpacker market associated with Sihanoukville,” said Wheble. Check out properties for RENT in Sihanoukville now! Norn Thim Sothear, director of Sihanoukville Property, said the speculation in Otres Two also comes amid a lack of space on Otres One, which has pushed land prices up by about $100 since last year, totalling $600 per square metre along the entire beach. Whether Sihanoukville’s growth will complement the government’s tourism drive and attract a breed of tourist other than backpackers or whether it will turn into a generic casino town like Bavet will remain to be seen. But for now the focus is taking that initial plunge and shaking the city from its slumber. “It requires someone to take the risk. Someone has to begin building and we’ll need to wait for the customers to see what happens,” said Meng. Check out properties in Sihanoukville, on Realestate.com.kh!  or Check out properties for RENT in Sihanoukville now! George Styllis, Phnom Penh Post, Post Property

The real estate market in the BKK1 area appears to be beginning to slow after years of accelerated growth as local investors look for more affordable alternatives within Phnom Penh. Seng Bunna, CEO of Bunna Realty Group, said that while the history of BKK1’s foreign-oriented growth dates back to the days of UNTAC when United Nations officials, diplomats and NGOs hunkered down in low-rise villas, recent years of growth has transformed the area into a bustling commercial hub with an upscale housing market – replacing the traditional tenants with a new class of residents amidst tall buildings. “[The] BKK1 area can be called a diverse zone. It is a region that consists of hotels, condominiums, apartments, restaurants, schools, and popular cafés. It is comparable to Sukhumvit in Bangkok.” While he noted that there is still room in BKK1 for more growth, he has seen a trend in investors developing in BKK2 and BKK3, Toul Tom Pong and Phsar Doeum Thkov area alongside the Russian Market due to “improved infrastructure in that area.” Prices for land in these areas are 30 to 40 per cent cheaper, he said. Kek Narin, an independent real estate investor, said as far as he has noticed, BKK1 currently has around 20 new condominium and apartment projects under construction, with at least another 50 already completed. He noted that BKK1 is still seen as the best area to live in and one that attracts tenants from around the region despite condominium prices ranging from $2,700 to $3,500 per square metre while land is selling at $5,000 to $6,000 per square metre, but “for local investors, they do not dare build a condominium in that area.” Instead, more suitable prices in areas with the potential for long-term growth have become a safer bet for investors, he said, agreeing with Bunna about the rise of adjacent neighborhoods. “In other areas the price of land is still reasonable, allowing for more reasonable rental agreements that will fill units,” he said. In adjacent areas, a one bedroom apartment or flat can cost around $400 to $600 a month, while the typical price in BKK1 ranges from $800 to $1,200 a month. Chrek Soknim, CEO of Century21 Mekong, said that while BKK1’s rise of premium upscale projects will likely continue there will come a point when development will peak. While he noted that BKK1’s growth is presently healthy “the area is getting overcrowded and it is getting tougher to find a place for more development,” he said. One developer who has already shifted away from the prominent neighborhood is Meng Lun, CEO of LCPP Resident. He claimed that his firm has succeeded with three large condominium projects in neighborhoods outside of BKK1, selling out at 100 per cent. Resident L Cambodia, their forth condominium project located in Toul Tompong, is 65 per cent sold, he said. “Because my condominium projects focus on middle class, we cannot develop our projects in the BKK1 area because the land in the area is very expensive which leads to high investment cost; thus, we would not be able to sell our [units],” he said. Kim Heng, Chairman of the Cambodian Valuers and Estate Agents Association, said that BKK1 competition has reached a point where developers will continue build, but that affluent housing demand has peaked. “Right now, it is difficult to find a land in BKK1. Even if there was, it would be difficult to find buyers, too. The average land price in this area is 3 million dollars and if a building is constructed, investors have to pay three times the land price,” he explained, adding that adjacent areas could more easily absorb increased development. “This is a good choice because regular Cambodians cannot live in BKK1. Only rich people can afford to stay there.” Siv Meng, Phnom Penh Post, Post Property

LinkedIn has more than 187 million members across 200 countries around the world. While some see LinkedIn as no more than an online resume/CV, LinkedIn should be considered an online social media site for business professionals looking to connect, network and engage - and it is perfect for real estate agents. As a real estate agent or professional, LinkedIn is a cheap and handy addition to your online business profile.  For real estate agents, it is also the perfect place to identify targets and initiate sales! In regards to staff recruitment, it is also your window into the professional community, available as soon as you sit down at your computer – allowing you to shop around for your next recruitment drive. Did you miss Part 1? Read it here! Or maybe you are looking for Part 2? See it here!Maybe you would like to get started, but don’t know how? Here are a few useful tips, Online Advice for Realtors, from Realestate.com.kh, to boost your real estate business online and use the power of the LinkedIn network!Online Advice for Realtors Part 3: Get Involved and Create Engagement: The power of LinkedIn lies in its unique ability to research, locate, connect and engage all in one location. It is a social network dedicated to boosting your business by working alongside your current offline marketing efforts. With that is mind, stop lurking and get involved! Join groups about real estate and investment: Start a topic around a niche that you understand well, and get a conversation going within that group.  When group members reply, be ready with helpful answers to these questions. Doing so can help establish who you are in the market - and allow you to comfortably connect with people within that group. Like or comment on the status of your connections: If they post their latest blog article, make a comment indicating what interested you about that. What did you like most about it and how will that impact the way you do business? We all love hearing feedback, especially from trusted business connections. This allows people to view you as an active and thoughtful professional, and build trust once they meet you in person. Follow companies through LinkedIn’s “Company Follow”: Here you can identify possible staff recruits, keep up-to-date with the company through status updates and even choose to receive notifications when an employee makes a move. Research you competitors within your local market through LinkedIn’s “Advanced People Search” feature. Don’t Forget Your Back Links: LinkedIn gives you the ability to link out to your website, blog or any other website you choose. It is a simple set-up process and a fantastic way to establish your brand while driving traffic to additional online properties you are listing. Also, make sure to change the standard “My Website” title that LinkedIn provides. Edit that basic information to give connections a better understanding of your services and the specific information you are offering on your company website. Did you miss Part 1? Read it here! Or maybe you are looking for Part 2? See it here!

LinkedIn has more than 187 million members across 200 countries around the world. While some see LinkedIn as no more than an online resume/CV, LinkedIn should be considered an online social media site for business professionals looking to connect, network and engage - and it is perfect for real estate agents. As a real estate agent or professional, LinkedIn is a cheap and handy addition to your online business profile.  For real estate agents, it is also the perfect place to identify targets and initiate sales! In regards to staff recruitment, it is also your window into the professional community, available as soon as you sit down at your computer – allowing you to shop around for your next recruitment drive. Did you miss Part 1? Read it here!Maybe you would like to get started, but don’t know how? Here are a few useful tips, Online Advice for Realtors, from Realestate.com.kh, to boost your real estate business online and use the power of the LinkedIn network!Online Advice for Realtors Part 2: Make Online Connections: After completing your profile, as explained in Part 1, it is time to make some new connections. Start by reaching out to your current friends, existing clients and professional relationships that you have already established outside of the internet. Use LinkedIn’s search to explore by name, company or keyword. Go through your business card collection and add them all to your new online phone book. Choosing “advanced search” will offer a substantial amount of options allowing you to do a deeper dive into keywords, location or industry. Your LinkedIn contact database will now always be updated on your job status, blog posts and can contact you directly via LinkedIn messages. You will also be able to follow their updates, so you stay well informed. One very important note: Be careful approaching strangers and trying to connect with them. This can affect your reputation as a real estate professional. If you do this too much, it can also get you banned from adding any additional connections (if you are marked as a spammer by LinkedIn). Having said that, it is always acceptable to ask your current connections for recommendations or referrals to someone they are already connected to. Check out Online Advice for Realtors: Boost your LinkedIn Profile Part 3 here

LinkedIn has more than 187 million members across 200 countries around the world. While some see LinkedIn as no more than an online resume/CV, LinkedIn should be considered an online social media site for business professionals looking to connect, network and engage - and it is perfect for real estate agents. As a real estate agent or professional, LinkedIn is a cheap and handy addition to your online business profile.  For real estate agents, it is also the perfect place to identify targets and initiate sales! In regards to staff recruitment, it is also your window into the professional community, available as soon as you sit down at your computer – allowing you to shop around for your next recruitment drive. Maybe you would like to get started, but don’t know how? Here are a few useful tips, Online Advice for Realtors, from Realestate.com.kh, to boost your real estate business online and use the power of the LinkedIn network!Online Advice for Realtors Part 1: Perfect your Professional LinkedIn Profile: Your LinkedIn profile must be compelling, concise and clear - so that potential clients, recruits or business relationships can immediately identify your specific area of expertise. With so many members, you must keep your profile clean, complete and up to date - or you will quickly get overlooked among the crowd. Take your time when preparing your profile content: Just as your company website is a direct reflection on the professional nature of your business, so is your LinkedIn profile. You wouldn’t hand out a CV for a job without checking grammar, dates and spelling, so don’t do this on LinkedIn!  Errors within your profile send a message that you don’t want associated with your professional reputation. Add all relevant skills and training you’ve gained throughout your career: Remember, buyers and sellers will research online, digging for details about you and your business long before they ever connect with you offline. Make sure they know your value perfectly before they meet you. Let your unique personality and abilities shine through: While this is a professional network and not Facebook, you do want to inject character into your profile in order to stand out from the masses. Differentiate yourself from the other real estate professionals in your area; that will grab other users’ attention. Make sure you always update your professional headline: Because, your professional headline acts as a short bio which leads people to click onto your full profile, it should be attention grabbing and include words that position you as a leader within the real estate industry. To be found when potential clients search for “real estate” or “realtor” within your area, use words related to your industry and area. You can also optimize your LinkedIn profile with keywords specific to your expertise and location.  For example, if you specialize in leasing apartments in Phnom Penh, Cambodia, your keywords would be “Leasing Specialist Phnom Penh Cambodia.”  These are directly searchable terms that allow people to quickly find you when searching real estate professionals in that area, with skills in a certain niche of real estate. Optimize your profile image: This means using your identified keyword (including your name) in the saved title of your head-shot image – for example: “leasing specialist phnom penh Cambodia john carter.jpg”. In addition, since this is a professional community, make sure your image is a high-resolution head-shot that makes you easily identifiable. Don’t put up a photo from Facebook of you at a night club – remember it is a PROFESSIONAL social network. It also helps to customize your profile URL with your name (first and last) making it easier to locate your profile in the LinkedIn search. By default, LinkedIn will give you an arbitrary URL when you initially set up your profile. But it is easy to customize this link and create your unique LinkedIn URL destination. Check out Online Advice for Realtors: Boost your LinkedIn Profile Part 2 here

The following information explains the steps necessary for transferring land titles of ownership in Cambodia, thanks to Realestate.com.kh.Step 1 Land Title Transfer in Cambodia.The buyer verifies the title certificate with the Land Office, checking for potential liens (debt) or other encumbrances: For the first step, the buyer must obtain a copy of the initial title certificate from the seller and verify proper ownership, ensuring that the seller is the rightful owner of the title certificate. He/she verifies the title certificate with the land office to ensure that there are no liens, mortgages or other encumbrances registered already for that property. Relevant Government Agency: Land Office Estimated time to complete the step: 10 days (should occur simultaneous to steps 2 and 3)Official cost: According the Prakas 995 dated of December 28th 2012 on public service at Ministry of Land Management, Urban Planning and Construction = KHR 50,000/US$12.50Step 2 Land Title Transfer in Cambodia.Obtain information on the property from the relevant Commune Council Official: The land purchaser must contact the village chief or the commune council official, in which the property is located, to obtain information on the land, in addition to an official search upon the title at the municipal land office. Relevant Government Agency: Commune Council Estimated time to complete the step: 10 days (should occur simultaneous to steps 1 and 3)Official cost: No CostStep 3 Land Title Transfer in Cambodia.The buyer must obtain the certificate of incorporation of the seller’s company and other official documents from the seller: If the landowner is a legal entity, the buyer must obtain a copy of the ID of the shareholder, or person acting on behalf of the company, and a certified/notarized copy of the certificate as issued by the Ministry of Commerce. These documents are needed to verify the accuracy and identity of the company name appearing on the title certificate. A Power of Attorney is also needed, as well as a resolution signed by the Board of Directors from that company authorizing the named individual to represent the company at the land office, accompanied by the Power of Attorney implementing that Resolution.Relevant Government Agency: Ministry of Commerce Estimated time to complete the step: 10 days (should occur simultaneous to steps 1 and 2)Official cost: KHR 80,000/US$20Step 4 Land Title Transfer in Cambodia.Apply for registration at the District Land Office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC): When 2 persons/companies wish to buy/sell real property, they must first go together to the district office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC) and arrange to prepare and sign documents. The documentation needed includes the company’s statute, its Certificate of Incorporation, and Power of Attorney (obtained in Step 3). At the same time, the original Title Certificate held by the seller must be presented to the Khan at the time of signing the deed, in order to have the name of the new owner officially inserted on the document.Relevant Government Agency: District Land Office, MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction) Estimated time to complete the step: 20 - 30 daysOfficial cost: A cadastral transfer fee of KHR 600,000 is paid to MLMUPC.Step 5 Land Title Transfer in Cambodia.Pay transfer tax at the Tax Collection Office: A transfer tax of 4% of the total value of the property is paid to the Ministry of Economy and Finance at the Tax Collection Office, relevant to the location of the transferred property. A Tax Receipt is then issued to prove that the property transfer tax has been paid. The 4% transfer tax is set out in Article 40 of the Law on Finance 1995. In Phnom Penh, however, this tax is not assessed based on the true transacted value of the property; but, rather, based on a schedule of price of property determined by the Phnom Penh Municipality. The assessed valuation by the Phnom Penh Municipality is usually based on the total number of square meters, the land’s location, use, potential use etc. The tax is thus not based on the actual price for which the land is sold; rather it is based on the assessed value made by the Municipal office. If the land is more than 1200m², the surplus of the land will also be subject to "unused land tax." For land less than 1200m², the unused land tax is not applicable. *The time for the tax office to complete the calculation of transfer tax will depend on the location of the land and its size. Relevant Government Agency: General Department of Taxation Estimated time to complete the step: 1 day*Official cost: 4% of property value (transfer fee)Step 6 Land Title Transfer in Cambodia.Return to Cadastral office to complete the registration process: After all taxes are paid, the parties may return to the cadastral office at the MLMUPC and sign/thumbprint a MLMUPC form for buying/selling real property, as filled in by MLMUPC official. The signing/thumb printing must be witnessed by a local authority such as commune chief, who will also thumbprint. These procedures are based on Land Law Arts. 65, 244 and 245. Land Law Art. 69 bars transfer unless all necessary taxes are paid. The documentation provided should include payment receipts of transfer tax (obtained in Step 5). Relevant Government Agency: MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction) Estimated time to complete the step: 5 daysOfficial cost: Cadastral service fee paid in Step 4Step 7 Land Title Transfer in Cambodia.Obtain the certificate of title from the Municipal Land Office: The Khan/District land office forwards all the “transfer documents” to the Municipal Land Office where it issues the final Certificate of Title in the new owner’s name. It is now registered. Relevant Government Agency: Municipal Land Office Estimated time to complete the step: 1 to 2 weeks. The last procedural step in practice can take several weeks, depending on the diligence of the land officials and interested parties.Learn more about all aspects of land law in Cambodia in our Investment Guide 2019. You'll become an expert on the Kingdom!

Developers in China facing debt problems are turning to buyer’s incentives such as luxury cars in a mad rush to flip an catalog of unsold apartments in a real estate development about seven times the size of Manhattan Island. Hopson Development Holdings Ltd., in May this year, offered a free Porsche to the first 30 home buyers of apartments in their development complex in southern China as a publicity stunt, and market stimulant. As a result of this policy, Evergrande Real Estate Group Ltd. is allowing home buyers to cancel prior purchases in the development and get all their money returned before the completion of the project - demonstrating their mistrust in the developers. These types of grand offers show huge urgency among developers forced to generate quick cash to reduce debt over their developments in mainland China. Yet, a similar story was seen in Melbourne recently as a luxury development in Toorak gave away BMW i3s, the manufacturer’s latest electric model, to the first home buyers to sign up. Developer forgets carpark!

The Phnom Penh Municipality has recently requested more city buses from the Chinese and Japanese' governments in order to expand the existing public transport bus system to 10 routes throughout Phnom Penh city, according to announcements to the press from City Hall spokesman, Long Dimanche.Currently, according to Long Dimanche, there are only 50 buses running on three routes in Phnom Penh. He went on to say that Phnom Penh Municipality will ask China to donate 100 new buses to increase the bus service system, and for the Japanese government to bring 180. Yet, it is currently unclear how many buses will be provided by each country, and whether these buses will be new or used - however, already Japan has been said to have agreed to the formal requests. City Hall hopes that opening more bus routes across Phnom Penh, it should reduce congestion along major streets.  Read another article regarding congestion in downtown Phnom Penh here.

Mr Sam Yang, CEO of Eastland Development HK Co. Ltd., has made waves in the grand scale Cambodian development market in recent times announcing a list of major Phnom Penh based projects. Post Property attended a recent press release where the CEO accepted questions from various local news and TV reporters regarding his wholly positive outlook on the expansion of the Cambodian real estate sphere. While Yang is a relatively young developer on the Cambodian scene, just 30 years old, his experience speaks for itself. Yang studied in both Canada and China, his two homelands, before beginning his professional career in China, holding roles such as GM of Fuying Construction Company; GM of Citykey Development Co., Ltd; Holding Vice President of YueTai Holding; CEO of XingYuan Mining – and, now, in his first Cambodian real estate venture, CEO of Eastland Development HK. See Eastland development properties for sale on realestate.com.kh todayCan you explain Eastland’s latest project? The first Eastland Development project to reach completion will be the “East One International Apartments” project – a condo development which is already 70% sold and under construction in Duan Penh. As we entered the Cambodian real estate market just 3 years ago, we used this first, smaller project to test the market. Based on the success of East One, we are now launching “East Commercial Center (ECC)” along Norodom Boulevard, near the Malaysian Embassy. Inquire about East One Apartments today, on realestate.com.khWhy not start another condo project, if East One was so successful? We decided to build an office building as our follow up project because, based on our research within the local market, we believe that the number one real estate need within Phnom Penh moving into the future is a lack of affordable, sole-purposed office space. There are a growing number of talented local entrepreneurs and small business owners who need a place for their businesses to take flight, without driving them bankrupt. The East Commercial Centre (ECC) will be completed in late 2017 and provide the market with 38 floors of pure office space, divided into small and affordable units, with low management fees, and common areas with all necessary business amenities. Inquire about the East Commercial Centre (ECC) on realestate.com.kh today We are also intimately aware that Phnom Penh has a growing lack of parking space. That’s why the ECC project will include a total of 680 car parks, over 6 floors. And in fact, the following stage of this development will be the East View Residence project, which will include four 38-floor high residential buildings. This will mark our second Cambodian condominium project, for Eastland Development, and will be on a much larger scale than East One. It will have a total of 768 units, and sufficient parking space to accommodate all residents. This will also provide living space for international and local business people working within the ECC tower, meaning they will not have to commute to their place of work. Inquire about the East View Residence project on realestate.com.kh todayWhy did you choose B grade office space for ECC? The current office space market in Phnom Penh is unsuited to the growing demand. These types of start-up businesses are not interested in A-grade office space, as rental rates are too high, and instead now find themselves adapting villas or flat houses into office space. Meanwhile, International companies are increasingly interested in moving an office to Cambodia at low risk because investment incentives are some of the best in the region. Inquire about the East Commercial Centre (ECC) on realestate.com.kh todayAs a developer set to release around 1500 units onto the market in 2017-2018, are you concerned about the property market retracting as the next election approaches in 2018? I am optimistic about 2018. No market in the region is free from these political concerns. Keep in mind, there will also be elections in Myanmar and Thailand in the near future, under similar scrutiny. Three things are clear to me: Firstly, the next great international economic boom will happen within the ASEAN countries. Secondly, out of the ASEAN nations, Cambodia has demonstrated itself to be within the top 3 in regards to political stability. Meanwhile, thirdly, in Cambodia investors can still trust in the US dollar – this is unique. Why is Cambodia increasingly popular for FDI?Is there a real estate bubble on the way? Relative to other international real estate markets, so far Cambodia’s real estate market has only attracted smaller funds of investment. Generally, we are seeing 5-10 million dollar investments in real estate projects in Cambodia. The larger funds of 200-600 million are yet to consider Cambodia; however, it is only a matter of time before these types of speculators come. This means, the Cambodian market still has a lot of potential growth. By 2018, also, the Chinese plan to have a regional railway completed, effectively linking the Asian markets directly. Although supply is increasing quickly in the Cambodian property market, we should also see relative demand chasing as the region develops faster than ever. See Eastland development properties for sale on realestate.com.kh today

Despite recent announcements of large development projects throughout Cambodia focusing on so-called “affordable housing” for the middle class market share, there remains a massive gap in the market for quality affordable housing opportunities for the poor; especially the urban poor. As land prices rocket in Cambodia’s wealth centers, those in need of lower-class housing are effectively pushed further and further from worthwhile economic livelihood opportunities. Accordingly, Post Property spoke with two NGO’s currently seeking to fill this gap in the housing market, and discovered a common theme: the need for co-operation and a culture of constructive dialogue between the private, public and NGO sectors. Read a related story on realestate.com.kh today Habitat for Humanity International is present in 70 countries worldwide, seeking to eliminate poverty housing and homelessness from the world. Habitat believes that every person should have a decent, safe and affordable place to live. [caption id="attachment_79030" align="alignleft" width="300"] The two-story stilt “Framework House” measures a total of 80 square meters in area, and features recycled material which is used as cheap insulation. It costs just $2500 to build.[/caption] As Kif Nguyen, national director of Habitat for Humanity Cambodia stresses, “Research shows that about 2 million houses in Cambodia do not meet minimum quality standards when it comes to design, durability, access to water / sanitation but also land tenure. Sub-standard housing is one of the key bottleneck to inclusive, sustainable development across the nation – because poor housing in not only the consequence of poverty, but also a critical root cause.” Furthermore, says Nguyen, “By 2030, according to the National Housing Policy, Cambodia will need 1.1 million more houses to fulfill demand, and the vast majority of this demand will come from the lower-class particularly in urban areas.” Building Trust International, a UK registered NGO, offers building design assistance to communities and individuals in need. David Cole, CEO of Building Trust International which has offices in Cambodia, believes that “housing can be a tool to inspire family/community investment in areas long after the initial projects are complete - through incremental housing design; and in the formation of jobs and training.” In Cambodia, both of these NGOs provide support for sustainable housing solutions that can meet the needs of the growing urban and rural poor. They also increasingly promote transformational community development through financing low income home loans, and encouraging support for their projects from both the private and public sector. A recent project in which Habitat and Building Trust has co-operated on in Cambodia is the design and implementation of the “Framework House” project, a highly sustainable, affordable house built from local bamboo and wood, costing the end buyer just US$2,500. Cheap, but highly innovative, these homes are designed with Cambodia’s unique environment in mind. Internally operable shutters help encourage air flow, and passive ventilation throughout the house. Further, large, overhanging roofs are integrated into the design to enable each family their own rainwater collection source. The design and testing phase for the Framework House is complete, and the two organizations are turning their attention to higher-density multi-storey social housing design for urban areas. Yet, both organizations understand that to implement these affordable housing schemes on the mass-scale, assistance from the public and private sector is crucial. [caption id="attachment_79028" align="alignleft" width="300"] Each “Framework House” comes equipped with a small solar panel that provides sufficient energy to charge a mobile phone or power a water pump, and within the house a solar powered light provides safe and sustainable illumination inside.[/caption] The Government is helping already, says Nguyen, and there is some genuine willingness to upscale our collaboration. In Battambang, Habitat worked in partnership with local Government to facilitate the delivery of secure land tenure to families who have lived precariously for many years on a large piece of public state land. This process of gaining secure land tenure is just the first step for sustainable housing development, laments Nguyen, “and it wasn’t easy. But, it can be done.” After each family receives a land certificate Habitat then helps with the on-site development of quality houses and collective infrastructures such as roads or drainage system. “Provision or subsidies of land is the key. We have the technical solutions – we can build affordable homes of high quality, as Habitat has done around the world, but as land prices soar in urban areas, we need support from the public and private sector in gaining access to land in adequate locations and at prices  which won’t exclude the low income earners from the market.” Through “Land Sharing” initiatives in which the three sectors genuinely co-operate, Nguyen firmly believes all Cambodian’s could have a decent standard of living. “The NGO sector has the knowledge of social housing and technical ability to design these projects; the private sector has the money; and the Government may facilitate  access to land. If we create a culture of co-operation and constructive dialogue between these three sectors, we can change the status quo – and everyone can win.” Market Development is also another string on Habitat’s bow in Cambodia, as the organization supports low-income families in gaining access to home loan finance. “We helped 6000 families’ access home loans last year alone, but with increased support from the government, we have the potential to bring home financing to the masses. It is a viable market, and the largest share by far – but it requires more understanding and education throughout the lower-class and within the micro-financing industry.” “In Cambodia's three main urban centers, namely Phnom Penh, Battambang and Siem Reap, existing communities will need a portion of subsidized land for low cost, affordable housing or else today’s baby boomers will be priced out of the highly inflated, speculative land prices - which is increasingly what we are seeing,” says Cole.  Currently, the rapid urbanization being seen in the city suburbs are pushing organizations like Habitat to look as far afield as Oudong when seeking affordable land to house families in need. “Whilst it is good to hear that people are talking about investment in affordable housing without government subsidies, says Cole, “the cost of units in these projects will still exclude many key workers and service professionals, or indeed lead to unsustainable debts and the social problems that follow.” “If real affordable housing of a good quality is to be achieved in urban centers such as Phnom Penh, we believe that the government must either provide land at a subsidized rate for building, or allocate land and build municipal housing with the support of organizations like Building Trust and Habitat - with fixed rents being paid to the government to recoup costs, maintain and build further affordable housing projects,” confirms Cole. If the Government makes this a priority, says Cole, “this will set the bar for foreign investment firms and public/private partnerships.”Read a related story on realestate.com.kh today

Local property developer, WorldBridge Land, Co. Ltd., and Singapore-based construction company, Strait Construction Group Pte, Ltd, last week announced a $100 million Memorandum of Understanding on affordable housing with the government.Singaporean developer HLH Group Ltd also announced its entry into the Cambodian property market with the launch of CamHomes in June of this year, a real estate agency under the company, Public Housing Development (Cambodia) Ltd.While at the birth of both of these recent ventures, government representatives have announced their goals of developing policy for constructing public housing for low-income and lower middle-income earners in Cambodia, there has been no indication as of yet that these two recent agreements with private companies reflect this policy directly.Yet, a Google search reveals that the terms ‘affordable housing’ and ‘public housing’ have been used synonymously by local and regional media to describe the very same projects.Per definition however, ‘public housing’ refers to a form of housing tenure in which the property is owned by a government authority.Supporting a lack of clarity surrounding the government’s direct ownership of new housing projects, at last week’s signing of the Memorandum of Understanding between the Government, WorldBridge and Strait Construction, Im Chunnlim, senior minister of the Ministry of Land Management, Urban Planning and Construction, reiterated that Cambodia’s government has drafted a policy on housing which indicates seven choices to solve housing issues, one of which shall be a collaboration with the private sector.Im added that in the draft policy, companies can give part of their housing to the government to sell to the middle class; the government can give a piece of land to a developer to build housing for the middle and lower class by requiring them to sign up for a long-term mortgage without interest; or the government can allow for infrastructure and social development in the case that the developers have a piece of land or enough capital to invest. But in return developers must give a certain area back to the government to use as housing for the middle and lower class.Yet despite this statement, there has been no public clarification as to whether any such direct terms were stipulated in last week’s MoU.Upon further email enquiry yesterday, WorldBridge chairman Oknha Sear Rithy told Post Property that his investment had already shaped into a construction plan saying there would be two townhouse projects in the southwest of Phnom Penh and they “should finish by the end of 2017”. The land, he added, was owned by the developer and not the government.While the investment volume of $100 million and the construction details are clear, the price of individual units, the amount of subsidies going into them and who will pay the subsidies is not, according to the Oknha, who added that these questions are currently being discussed.What also remains unclear is the mechanism, through which subsidies could be raised. An employee of WorldBridge mentioned to Post Property on the phone that taxation relieves on imported construction material could be a form of government subsidy that would pay for the discount on the original price per housing unit. In addition to that, construction permits could be granted to the developer for free. Whether these subsidy mechanisms – which were not brought up in senior minister Im’s rundown of subsidy solutions – would suffice for subsidies in housing units, Oknha Rithy said he could not comment until “after our team finalised it”.Other than knowing how much a housing unit could cost and how it could be subsidised, it would be important to decide which people in need would benefit from the programme and if the administration to decide would be in place.To that the Oknha said: “Next year we will start the first project. While the scheme of subsidies is still in discussion, I hope to have concrete information by the end of this year.”Considering all the uncertainties revolving around the MoU, a successful partnership between the private sector and government to build public housing seems up in the air.If the government does not have the means to pull their weight in the scheme, WorldBridge could at least complete the project and see the housing units without subsidies, according to Oknha Rithy.“Yes, we can stand alone but I am sure the government is supporting us and will cooperate with us,” he told Post Property yesterday.On Saturday September 26, Deputy Prime Minister Sar Kheng, spoke at the launch of the CamHomes showroom. He called CamHomes D’Seaview development in Sihanoukville a step in the right direction to home ownership, saying, “[In the] Cambodia context, a supply of contemporary housing to accommodate growing middle income populations is still one of the major developmental challenges facing the Royal Government of Cambodia.”He went on to say that CamHomes was said to fall in line with the National Public Housing policy currently in the process of development by the Ministry of Land Management, Urban Planning and Construction – a plan which he expects to see the results of in the next few years.While CamHomes’ approach may be in line with a policy that may take years to materialise, one has to note that CamHomes is a developer realising its project with private sector funds.Deputy Prime Minister Sar Kheng also noted at the CamHomes launch that while the construction and property sector has substantially relied on the private sector for investment projects, the government has been actively promoting an investment climate conducive to the growth of the market.Dr Peng Hong Socheat Khemro, general director of the Ministry’s Housing Department for the Ministry of Land Management, Urban Planning and Construction, officially spoke with Post Property in May 2015 regarding the planned public housing policy.When asked about the progress of this strategy in May, Dr Peng Hong Socheat Khemro said that “Our first job is to develop the mechanism. Our second job is to educate national, provincial and commune-level government officials about what we are trying to do. We will move on to the construction trial stage only when we have the mechanism and the ability, which will possibly begin in 2017 or 2018.”Thus, affordable housing appears to remain the initiative of the private sector in Cambodia.This article was a co-production of Realestate.com.kh and The Phnom Penh Phost, Post PropertyIf you want more information and updates, subscribe to the mailing list now or check out the news section of Realestate.com!

For all you happy home bodies out there, check out this funky Japanese invention - the all day bed! Your bed, sofa and table, thrown together in one super soft piece of furniture. Stay at home in bed all day!But, maybe not perfect for Cambodian home bodies - with an electric heater underneath the whole unit, and a luxurously heavy blanket thrown on top, keeping you nice and toasty all day long.Read more of the latest and greatest real estate news right here on Realestate.com.kh!