With Phnom Penh exhibiting signs of saturation in the high end real estate development market, developers and investors are looking south to Cambodia’s coastal city of Sihanoukville.Realestate.com.kh caught up with Ross Wheble, Country Manager for Knight Frank Cambodia, to get the lowdown on what factors are stimulating the current growth.How is the infrastructural development of Sihanoukville feeding into real estate and property development?One of the main drivers of real estate development and investment anywhere in the world is infrastructure. A few recent infrastructural developments are spurring investor confidence in Southern Cambodia.The Sihanoukville airport is set to become Cambodia’s largest airport, according to various sources. This means more and more regional airlines flying direct to Sihanoukville from international destinations. Grand Union Group, the developer of Dara Sakor at Koh Kong, has also recently received permission to build another airport. While this is not in Sihanoukville, it still represents another access point not far from the city. Until quite recently, airlines were reluctant to offer direct flights to Sihanoukville until a minimum number of hotel rooms were available. Meanwhile developers wouldn’t construct and hoteliers wouldn’t operate in Sihanoukville while the airlines weren't delivering passengers. This standoff has stalled hotel and airline investment in the last few years. Yet now, with the influx of new routes direct to Sihanoukville, luxury hotel brands are trickling in. For instance, Alila, co-founded by the former financial advisor of Aman Resorts, an upscale hospitality group operating in over 20 countries, will launch a 5 star luxury venue on an island off of Sihanoukville. Six Senses Krabey Island is also scheduled to premier in 2017, a large Thai operator of 5 star luxury hotel venues. This trend seems set to continue.Meanwhile, the Chinese-operated Sihanoukville Special Economic Zone (SSEZ), already the biggest SEZ in Cambodia, has announced its intentions to double its capacity and open 300 factories by 2020. New flights from mainland China to Sihanoukville have also been launched recently, specifically to service the SEZ. Continued expansions of the deep sea port are also reducing shipping costs for Sihanoukville based industrialists. Another SEZ in Sihanouk, Steung Hav SEZ, also has a license to build a second deep sea port in coming years.A new highway from Phnom Penh to Sihanoukville has also been slated, and is supposedly due for completion by a Chinese contractor by 2020. This not only aids travelers, but is a key improvement for manufacturing logistics between the factories of Phnom Penh and the Sihanoukville deep sea port.How does the Government’s Coastal Development Plan fit into this?Alongside this private investment, the Government is drafting a coastal development master plan, with certain elements now actively being enforced in regards to protection and maintenance of ecological assets such as beach fronts and mangroves. While these changes are hurting some businesses now, especially on Ochheuteal beach, in the longer term these measures seem to be on the right track to preserving the region's tourism assets. A coastal road connecting Sihanoukville to Kampot and Kep has also been announced.What major development projects are already underway?There have been a handful of major mixed use developments launched in Sihanoukville thus far, and seemingly this is the start of a Sihanoukville condo market set to continue. To name those that we are aware of: D’Seaview; Sunshine Bay; Blue Bay Condominium; Royal Bayview Condominium; The Scarlett (a time share condotel); and Blue Sky Tower.Meanwhile, since beginning of 2016, hundreds of millions of USD of investment has landed in the Sihanoukville, predominantly geared towards integrated resorts, casinos and the gaming market. In turn, a large number of gambling licenses have been granted. This thirst for casinos is being driven primarily by Chinese investment.Meanwhile, at Ream, a lesser known part of Sihanouk province, a huge economic land concession of around 3,300 hectares is being developed by the local owner in conjunction with foreign investors. So far around 15 agreements with investors for parcels of land have been signed, with the long term vision of building an integrated hospitalities zone, including golf courses, luxury hospitality, leisure, gaming and eco tourism ventures. A jetty/port that could support cruise ships has also been planned here, able to receive cruise ships from destinations such as China and Hong Kong.What does this new focus on Sihanouk Province say about the state of the Phnom Penh market?When looking at the overall number of condominiums compared to the size of the population, there is no oversupply. However, there is an oversupply in the high-end segment of the market and we are now seeing a shift towards the launch of more affordable condominium projects in Phnom Penh targeting the domestic market. Factoring in the buying power and preferences of the local market, the vast majority of rental demand for these high-end condominiums will be from the expatriate community residing in Cambodia; hence the likelihood of downward pressure on proposed rental returns once projects are completed over the coming years. Sihanoukville represents a different proposition, there are different fundamentals at play: tourism is strong pull for foreigners and locals, but simultaneously there is a strong economic focus in the city, with many international companies currently setting up here. This population of comparatively wealthy foreigners, in addition to a significant increase in tourist arrivals which is set to continue for the foreseeable future, suggests that there is an untapped rental market in Sihanoukville which has caught the attention of developers and investors alike.  Why not Siem Reap?In comparison to Siem Reap, Sihanoukville offers better long term potential. Yes, Siem Reap has tourism and will continue to - but Sihanoukville is simultaneously an economic hub which will underpin demand for residential accommodation over the long term as the population continues to grow. Furthermore, whilst Siem Reap attracts visitors due to the world heritage site of Angkor Wat, once international tourists have seen this wonder, they are unlikely to return. Coastal resort destinations, if developed well, encourage repeat visitation with tourists returning year after year. Another factor to keep in mind, although not economically viable at present, is the oil and gas reserves offshore in the region which will drive the long term growth of Sihanoukville once extraction begins.By James Whitehead, director of content @ Realestate.com.khThis story was a co-production of the Khmer Times & Realestate.com.kh "Property" Liftout. The section is available every Wednesday in the Khmer Times newspaper, with 10,000 copies distributed across Cambodia every day. Contact us today for advertising opportunities in the Khmer Times/Realestate.com.kh Property liftout. Check out the best Sihanoukville property listings on Realestate.com.kh

As the construction industry has risen to become the single most progressive engine of economic growth in the Kingdom, various sector stakeholders suggest there is an increasing need for added legal protections within the industry, overarching urban planning, along with more protections and long term policies to sustain investments in the sector.The Phnom Penh Master Plan 2035 seeks to dictate the urban planning for the expansion of the city and construct new infrastructure to accommodate the growing population. Until now, the city has had no zoning regulations of note nor clearly identifiable urban development planning.Slow implementation of master planning is raising concerns over traffic congestion, and general infrastructural capacity in the key districts seeing high number of condo development projects.Knight Frank’s Ross Wheble states that, “Cambodia’s real estate market is still at a nascent stage of development and teething problems along the way are to be expected. However, a key area of focus for any developing country should be infrastructure. This includes both hard (physical infrastructure; such as roads, railway networks, mass transportation systems, utilities) and soft infrastructure (the education system, healthcare system, financial system) - and it is well documented that infrastructure development is important not only for economic growth but also for poverty reduction which, in turn, increases demand for real estate over the long term.”He continues, “The Government has certainly been making progress in this regard, with numerous major infrastructure projects having completed, commenced construction or been announced during the past few years, but there needs to be an overarching infrastructure policy to set the proper framework.”“A key obstacle to overcome is the funding of such projects, which is particularly relevant in developing markets. One way to tackle this is through planning policy, which is another area that needs to be addressed to improve transparency in the market. In developed markets, it is not uncommon for developers to be required to make significant contributions to infrastructure improvements to ensure that the impact of high density development on the existing infrastructure network is mitigated. With the increasing number of development projects being announced in the Kingdom’s capital, this is certainly an area that needs to be reviewed,” concludes Wheble.Sunny Soo, of Keystone Property Consultants Co., Ltd., an international associate of Savills, adds, “the legal policies of a comprehensive town and country planning system has to be in place now and that it needs to improve continuously and simultaneously adjusting to a larger vision in the future, notwithstanding market transparency and good regulatory enforcement framework. There is no other way about it. Legal guidance and clearer future planning policies in line with good enforcement will be of utmost importance to serve and lead the market toward a healthier city development; whether the aim is to subside a strained city’s infrastructures or serving a role of directing sub-urbanization. But more importantly it also leads to better self-regulation in the future, and that’s when the level of assurance for a healthier real estate market can be elevated.Another real estate area in need of improving is the “soft infrastructure” - meaning those features of the country that make it suitable for living, such as educational institutions, medical care and retail options. While these things are improving, there is certainly some way to go before Cambodia represents a lifestyle on par with the countries from which investors are coming from.Marc Townsend, managing director of CBRE Vietnam and Cambodia says that Cambodia is an increasingly attractive area to settle down. This is because it has a lower cost of living than other popular areas for retirees.But he warns that Cambodia still has to work on medical, travel, and infrastructure concerns in order to attract more mature investors like Malaysia. He states, “We weren’t trying to prove anything here because we were just trying to see whether there was a market that was sustainable. Malaysia’s gone a long long way to trying to attract retirees with their silver-hair visa. And Cambodia is just starting. And it’s interesting where it possibly could go. As long as you get the right type of retirees.”He explains that cost of living is one of the main selling points for normal expats. But this isn’t always the case for all ages. He says that “a lot of it comes down to medical. And if you’re in good health, it’s not something that you worry about. But obviously, as you get older, the ability to have just a simple consultation, ten minutes with a private practitioner/general practitioner – in your own language – and knowing that the pharmaceuticals you’re buying over the counter are safe, again, these are issues that Cambodia has yet to overcome.”Learn more about recent Infrastructure upgrades in Cambodia!

Citizens and investors of the country will soon be able to work, play, and live in The Gateway Cambodia – a prime new development property that’s set to change the urban landscape of Phnom Penh city.The Gateway will be a freehold mixed use development that will include residential, retail, and office options for local and international investors.The development will see the rise of an ample 7-storey car park and 2-storey retail podium, a 39-storey residential tower, and a 36-storey office tower. It will also feature a sky terrace and a basement car park on its residential tower. There will be a total of 299 office units and 572 residential units in the project.The residential units will range from one to three bedrooms and will have luxurious fittings and private balconies to match. These units will offer a guaranteed 6 percent return per annum for two years. For buyers who commit soon, there’s an ongoing “Star Buy Promotion” for a limited number of residential units; One bedroom units start around $130,000 range; two bedroom units start around $200,000 range; and the three bedroom units start around $250,000 range.The office tower will have a helipad, a double-glazing glass for heat reduction, 8 elevators, and a separate fire elevator for safety. Uniquely, The Gateway offers the only Grade A offices for sale in the Phnom Penh Central Business District area. These units will offer a guaranteed 8 percent return per annum for two years. There’s also sound potential for capital return due to the high demand in the Phnom Penh office market segment currently - as the city transforms into an epicenter for inter-Asean manufacturing and trade.The Gateway Cambodia will be carefully crafted using quality construction materials by a competent set of local and international industry experts. The developer, TACC (C.R.) Ltd., have utilized the services of 2nd Edition Pte Ltd for the interior design, award-winning Mr. Lim Koon Park of Park + Associates Pte Ltd for the architectural design, KCL Consultants Pte Ltd as the structural engineers, and United Project Consultants Pte Ltd as their M&E engineer.The developer has around 40 years of construction experience and 15 years of real estate experience in Singapore, and is currently listed on the Singapore Stock Exchange.The Gateway Cambodia is set to reach completion by December of 2019. It will be strategically located along Russian Boulevard. It is one of the only major roads in the country from the airport to the city centre that has no flooding potential. This transit route is also undergoing significant development to maintain its usability moving forward into the next decade of Cambodia’s growth.Located just 15-minutes drive from Phnom Penh International Airport, The Gateway will be the tallest building from the airport to the office of the Prime Minister. It’s also near important establishments and amenities such as the Ministry of National Defence, the Thai-managed Royal Phnom Penh Hospital and a host of world-class International Schools and respected Universities. Parkson Mall is also underway along the same boulevard, and is set to become Cambodia premier retail mall complex.It’s also close to the Phnom Penh City Center development site, a huge tract of land under development on the former Boeung Kak Lake, which is the only area in the country with a full master plan. According to the developer’s source, a future MRT station will also be built near The Gateway project.The developer’s research shows high potential for return and a doubling of capital appreciation every 5 years due to high foreign direct investment from countries like Japan, Korea, Europe, and China. There will also be a guaranteed 6 percent to 8 percent yields per annum.Take a look at the development if you want to find a space that promises convenience, comfort, and luxury in a city that is rising dynamically in the ranks of Asean. You don’t have to settle for anything other than The Gateway.Find out more about this great project from The Gateway’s professional sales team today!

Home and business security is important for all property owners in Cambodia. Crime prevention requires attention from the right providers in order to ensure that your property is secured. However, it is also important to look after yourself.Ms. Sim Kalyan, general manager of Global Security Solutions (GSS), recently talked to Realestate.com.kh about how to stay safe when living in Cambodia. What qualifications should security companies have?Kalyan said that the history of the security company's management should be reviewed, especially the Managing Director’s. Check for experience and if they have a clear policy for the staff, such as if their salaries regularly paid or if the security guard’s salary is good enough. This is crucial because you must have a guard that is loyal to their company above all else. Try to also look for information on whether the services are good enough from past customer.Also check whether the security company’s registered and licensed in the ministry. There are more than 200 security companies in the country and some of them don’t have licenses.What safety precautions should we take in Cambodia?There’s always a risk of pickpockets or thieves. Kalyan advised not wear a lot of jewelry when going outside, using a small bag and putting it inside shirts in order to avoid pickpockets.In terms of robbery protection, bodyguards can be an option for those who can afford them. Alternatively, walking with two or more people lowers the risk of robbery. But we should also be careful in crowded places. There can be a possible kidnapping because of neglect. Knowing where to sit or where to look around also helps.In case thieves are following you, it’s recommend not to go home. It’s better to go to crowded areas or places like hospitals or police stations. The daily commute should include scouting areas in case of emergency.Kalyan also mentioned that it’s better not to go home when you’re out past midnight night. If you really need to go home, inform your family. Do not set up a password on your phone so that if you are in an accident, the first on scene can still contact your close friends or family.  Should I use insurance even when I already have security systems?A security company will guarantee limited payment in case something happens. Choosing insurance is a good safety net for any damages that could occur.Kalyan said that those who have plenty of high-valued objects should use insurance services. Also, doing a consultation with an expert insurance firm or consultant is advisable before you decide to purchase a home or business. When using insurance, You only need to pay a fixed monthly amount  to get compensation for what has been lost. Insurance service is the best choice for property owners who want to eliminate risks on their property asset.Other factors to consider:Kalyan added that if you know you’re being watched all time, you shouldn’t leave the workplace with a consistent schedule. Leave early sometimes and sometimes late. We should not drive only one route. By doing this, the thief will not know exactly what time you leave and which  route you take.In addition, there are three strategies: run, fight, and hide. These three strategies can enable us to escape from danger. But we also have to be responsible to know when to use each method.Learn more about home security in Cambodia!

Outcome of Trans-Pacific Partnership presents uncertainties and opportunities for flight-to-quality activities30 November 2016, Singapore – Knight Frank, the independent global property consultancy, today launches the Asia-Pacific Prime Office Rental Index for Q3 2016. The index monitors prime office rents in 19 cities across Asia-Pacific. For Q3 2016, eight cities registered positive rental growth, down from 10 in the previous quarter.Results for Q3 2016Knight Frank Asia-Pacific Prime Office Rental Index grew 0.6% in Q3 2016 compared to the previous quarter as a result of rising rents in eight markets and rental declines in six markets.Tokyo continues to experience the highest rental growth, although demand is expected to taper off as a strong supply pipeline looms.Singapore sees the largest decline in rental due to slowing global economy.Going forward, we expect rents in 14 cities to remain steady or increase, unchanged from last quarter’s forecast.While it is still early days, the results of the US election is likely to lead to more uncertainty across the region, with the likely end of the Trans-Pacific Partnership (TPP) a blow to export-dependent economies. Mr Nicholas Holt, Head of Research for Asia-Pacific, says, “The outlook for the regional economy is uncertain as the future of the TPP hangs. We expect a knock-on effect on office demand when export-driven economies are dealt a blow should the TPP be dissolved.“Given the significant amount of supply coming into a number of markets, we do see opportunities for occupiers to upgrade into superior space, as the pendulum swings from landlord to tenant-friendly conditions.”Download the full Knight Frank Report

The name Donald Trump brings controversy wherever it goes. It doesn’t matter if it’s in a reality show or if it’s in politics. Prime Minister Hun Sen even noted that he preferred Trump to win because it would ease tensions between Russia and improve global cooperation. And the prime minister did get his wish. Donald Trump has been named President of one of the most powerful countries in the world.But what does this mean for countries in Southeast Asia?Marc Townsend – the Managing Director of CBRE Cambodia and Vietnam – discussed the implications during his presentation “Is Cambodia’s Residential Market a Target For Investment?”An Interesting Change:Townsend mentions that Cambodia may not be directly affected by Trump’s victory. But he warns that Cambodia may not remain completely unfazed by it either. A trans-pacific partnership has been in the works during the Obama administration to enhance trade among 12 countries by means of free trade zones. But this may have hit a dead zone as Trump has expressed opposition towards this specific trade agreement. No decision has been made about the issue yet.Townsend explains “it will be interesting to see whether that happens. Obviously, Cambodia’s not so much involved in that. But the ripple effect will be interesting. Obviously, with Mr. Trump’s election future trade agreements become increasingly distant.”The Ripple Effect:The hostile treatment of the United States government under the Trump administration will focus on an “Americans First” master plan. This means providing more jobs to Americans by removing most outsourcing industries. Trump might impose higher tariffs on import as well.Fortune mentions that “any such moves could also hurt Asian exporters who ship components there for assembly and export to the United States, at a time when global trade is already weakening.” It is important to note that most of the countries that will be affected by this change are major investors of Cambodia. A weakening of their trade policies with the United States of America may spell trouble for the country given its reliance on industrial based exports. The Dashboard from CBRE Cambodia:Townsend said “We put this dashboard together every month. And you can see here, particularly, it’s important to see where we’ve come from, where the FDI numbers have come from, where they’re going to.” His presentation showed no future FDI estimates from CBRE as a result of the uncertainty that the Trump administration may bring. They do expect stable GDP growth though.It is difficult to see how Trump’s going to play the presidency out until he reaches his first 100 days. But many are still hopeful that his making America great again will include better foreign trade agreements with nations such as Cambodia.Find more Investor Guides in Cambodia on Realestate.com.kh

Cambodia real estate speculators recall the market of 2008–10 in which Phnom Penh property prices fell around 40% across the board, not fully recovering until as late as 2014. Domestic confidence in the market plummeted during this period, and this dropoff in demand was significantly accentuated by a global economic crash. The period saw large declines in FDI flows into the nation and its property market. Warning signs are appearing in the current condo market of Phnom Penh that show some similarities to this last property market crash. The current state of the market is suggesting that condo Investors now need to consider longer term investment if they want high returns - as opposed to cashing in quick for short term gains.In 2016 we can see a new developments market (particularly condo) predominantly targeting the foreign investment market, with prices so high as to block all but a small fraction of local buyers entry into the market. The predicted supply increases seem likely to outstrip the markets current ability to absorb, meaning proposed rental yields are unlikely after the bulk of new units come online between 2018-2020. Investment returns on resale are also in question alongside new supply rates, and plateauing land prices in central Phnom Penh where the majority of condos are being built.A condo oversupply red flag for investors exists when unit sales prices are growing faster than the money flows and returns on investment that underpin those units’ values. This uncertainty around secondary markets for the large new supply of condos set for release is worrying some investors.Many condo developments are offering a guaranteed rental return for a period of time. The lower end of these returns represents 6-7% per year, and some are as high as 20%. These returns are generally guaranteed for 3 years by the developer - meaning, regardless of whether or not the property is rented, the developer is obliged to pay the returns to the buyer.When the guaranteed rental yields for the incoming glut of condos expire, owners might decide to sell, having found that tenants are in-fact unavailable given the huge supply at the time available in the market. This lack of rental income could lead to buyers forfeiting mortgage repayments with no option but to sell the units. The concern is that if too many of these guaranteed rental periods expire in the same period of time, as they appear they will given that the majority of units will be released into the market between 2018-2020, this could result in a fall in condo prices as the market is flooded with resales.  Given that foreigners make up the vast majority of high end rental yields, the dramatic increase in condo supply over the next 2-4 years is supported by an underlying belief that a secondary market will continue to grow to supplement demand. The belief is that more foreigners with means to rent or buy prime condo properties will move to the capital city to live and work.Yet, population statistics do not appear to be supporting this prediction. While the number of expats currently in Cambodia is widely quotes at a total of 80,000, the Ministry of Labour recorded that only 35,000 applied for work permits in 2015, and just 25,000 of these permits were granted.  The other way that the resales and rentals market could increase is through domestic means for condo investment increasing, however, this too appears to be limited. Domestic demand is also a key element of a successful condominium project for any developer in Cambodia, due to foreign ownership of an individual building (strata law) being restricted by law to 70%. This means 30% must be sold to local Cambodians. Despite significant population growth, the World Bank citing 4% year on year in Cambodia, local buyers still lack the means to buy into the condo market for the largest part. Most local buyers are struggling to satisfy deposit and payment requirements for mid to high end condo units, which represents that largest portion of incoming supply. In 2014, a Park Café consumer survey among Phnom Penh’s active professional population showed that only 1% of this class earned between $2,001 to $5,000 per month; and just 6% between $1,001 to $2,000 per month. To compliment this statistic, VTrust’s housing market survey in 2015 stated that 54% of the respondents wished to buy homes at net prices between $30,000 to $70,000 per unit. In comparison, V Trust noted that 40% of current condo market unit supply are priced less than $70,000 per unit. Furthermore, consumer tastes appear to remain firmly focussed on the landed properties market. The VTrust survey found that just 9% of these buyers would choose to buy condos - the traditional preference for landed properties remained dominant in the survey.This situation of an oversupply compared to domestic demand has been accentuated by the recent economic slowdown in China and other Asian countries, further slowing demand for Cambodian investment properties from key investor markets across Asia. In regards to the condo market for international investors, Marc Townsend, Country Manager for CBRE Vietnam and Cambodia, notes in a recent presentation that, “It’s a limited market at the moment. And obviously, at some point, it will come on the radar screen of a wider group of people”. Once Cambodia enters the consciousness of investors around the world, the market has the potential to change dramatically. Yet apparently, as of 2016, this consciousness is relatively small.Townsend adds the need for a diversified investor pool to negate risk across the market, a point that is well demonstrated by the recent slowdown of the Chinese market: “We need investors from all over the region. Not just from one place. You need to have a balance.” Otherwise, when one set of investors for some reason boycott the market or lose their influence in the country, the market can still be sustained by the overall investor pool.The Taiwanese, for instance, represent one of the largest investment property buyer groups in Cambodia currently. If the Taiwanese market shies away from Cambodia due to a lack of confidence in the secondary market or growing political tensions as the 2018 elections loom, the entire market could take a dive. “Education of investors is the most crucially needed factor to maintain a healthy market in the long-term,” suggests Sam Yang, ceo of Eastland Development HK Co. Ltd, an active developer with three large scale projects underway in Phnom Penh. Yang continues, “This is because so many non-Cambodians do not have a clear understanding about this country or even Phnom Penh. As for locals, they don’t yet appreciate fully the benefits of living in a condo. I suggest that there is a strong need to increase this country’s exposure to the rest of the world via advertising abroad, introducing the beauty of this country. And that’s something that the government can lead on and coordinate with the private sector in order to achieve success.”Given Cambodia’s overall dependency on the garment and footwear industries currently, if market conditions for manufacturing these products change to a point where major stakeholders decide to move their operations away from Cambodia to more competitive markets, this could also alienate a large sector of the international property investment pool.Yes - despite these risks - in the long run, the condominium market should correct itself by reaching the equilibrium where condo prices and quality will be geared to genuinely suit buyers demand, affordability and preferences, both domestic and international, and the prices will adjust to reflect the real potentials for rental yields upon completion. Marc Townsend of CBRE in a recent presentation says this is the mark of a maturing market whereby, “trajectories have changed from being favorable to the developer to favorable to the buyer.”Yin Leangkong – editor in chief of the magazine Property View, and presenter and editor of real estate and economics at BTV - notes in a recent interview that we will not see a crash like in 2008 caused by a condo oversupply, however: “It’s impossible! Actually, the real estate crisis in 2008 did not start out from Cambodia. It was a global crisis that started from the United States. And although the real estate market slowed down, intelligent and experienced investors in real estate have already taken precautionary measures. Moreover, government already issued regulations to prevent a crisis in this sector as well.”Matthew Rendall of ZICO law notes in a recent interview with Realestate.com.kh that, “what is crucial is the need for developers to organize a working exit strategy.  I.e. The long term management of the apartments blocks once the development is finished and completely sold. There needs to be a development of the owner-run body corporate culture (where owners come together as the management body and control the sinking fund etc).  Failing this, the developers either have to manage the apartments blocks in perpetuity or risk the development falling into disrepair. Buyers will start to look at developer's previous developments and judge them by how well they are managed (when deciding whether to buy into a developer's subsequent development).”Ross Wheble, country manager for Knight Frank concluded in a recent interview the Phnom Penh Post, that many property developers are only just beginning to understand the dramatic changes that the condo market has witnessed over the last few years. Wheble predicts, “There will certainly be a period of consolidation, particularly when you compare rental prices across the different sectors here in Phnom Penh with major cities such as Kuala Lumpur and Bangkok….We advise any investor that they need to take a long-term view as opposed to short-term speculation.”“Demand from foreign investors has been declining during the past six months and developers need to be more innovative in terms of the products they are offering, with the market now more price sensitive,” continues Wheble.Sunny Soo of Keystone Property Consultants Co., Ltd., an international associate of Savills, notes that, “it is normal to have winners and losers in a competitive market where development is in-itself a higher risk business. If any developer’s pre-development preparation is not market-driven but rather fueled by optimism alone, this is the price of ego the market has to pay.”One final point is that developers are now looking to new products in new markets, outside of Phnom Penh. Fears of oversupply in Phnom Penh are naturally pushing developers to look to new markets, the frontrunners currently being Sihanoukville, Siem Reap, Battambang and Poipet. Check out the condo market opportunities now!

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talks to Realestate.com.khTV about where to go shopping in Phnom Penh and details what are the most Popular Shopping Markets in Phnom Penh.What are the most popular shopping markets in Phnom Penh?There are two popular markets in the city of Phnom Penh. These are the Russian Market (Phsar Toul Tum Poung) and the Central Market (Phsar Thmey). These are where both foreigners and local usually like to go shopping.Why are these markets so popular?They’re both popular because they have local Khmer products like handicraft, silk, handmade jewelry, and other types of souvenirs. Foreigners like to stop by and shop for souvenirs there before going back home to their country. But these markets are also popular with expats and locals - because besides souvenirs, you can find almost anything if you search around in these traditional markets.How about the food quality?Well, the food in both markets are really good and popular too.  In terms of pricing, it is as good as the taste. People can easily find various local food here such as fresh fruit shakes, grilled fish, grilled pork, Khmer noodle soup, fried noodles, fried rice, and porridge.Are there pubs, bars, restaurants, and shops around the Russian Market?Yes. Because there are a lot of expats living in the Toul Tum Poung Market (Russian Market) area. And tourist also roam around the area to enjoy both Khmer and Western food. There are also international restaurants where you have options for entertainment or beer. All these things make the Toul Tum Poung Market even more popular.Learn more about life in Toul Tum Poung!

Enchan Sreyleak, the Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to open a bank account in Cambodia, on Realestate.com.khTV.What are the requirements to open a bank account in Cambodia? Cambodian citizens are required to present an ID card or a passport to the bank. Initial deposits vary between different banks. Some require an initial deposit of $100 to $500. Some banks require an initial deposit of $10 to $500. It’s a bit different for foreigners. Foreigners are required to present a passport, a visa that’s still valid for six months, or a job contract. These requirements also vary between banks. Initial deposit that are required by banks can range anywhere from $10 to $500.How about an ATM card?It’s good to use an ATM card, but you will be charged a monthly fee. You are also supposed to actively use your ATM card. If  you don’t use it within a given time period, you will be charged an extra fee if you want to use it again. Find out more about Banks in Cambodia on Realestate.com.kh

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to set up an internet connection in Cambodia, on Realestate.com.khTV.How to set up an Internet Connection in Cambodia: What are requirements to set up your internet?There are many options and many internet service providers in Cambodia. Most of these companies have the same requirements for foreigners or Khmer nationals. To set up your internet, you’re required to present an ID card or a passport with visa.How to set up an Internet Connection in Cambodia: What’s the process of setting up an an internet connection in Cambodia?Once you know which company you want to avail the services from, you can give them a call. You then need to go to the company and fill up a document. But it’s also possible to call them to go to your home as well to fill up the form if you’re unable to go there directly.How to set up an Internet Connection in Cambodia: What about the payment responsibilities?You’re required to make a deposit. Some companies will charge $35 up to $150. It takes around three days to a week in order to complete the process of setting up. Fees start with a minimum of $12 and a maximum of $150 a month. The faster the speed, the higher you need to spend.Check out Yong Yap Properties listings and services on Realestate.com.kh

Collaborations can be powerful tools for social change. Axis Residences recognized this potential and partnered with both the CIA First International School and Cambodia Care Centre in order to fulfill a collective calling towards social responsibility.Creativity with Purpose:The collaboration called upon the utilization of talent, skills, and passion of students from the CIA First International School to create meaningful art pieces for Axis Residences’ theme of going green. This is also in line with the company’s vision and campaign of the company to do more environment-friendly developments. It was also a means to educate and inspire the newer generation to take care of the earth.The top ten – out of around a thousand – artworks were chosen via online voting to be included in the auction organized by the developers and the school last November 5th of 2016.The auction was attended by students, school officials, executives of the Axis Residences, and a few other special guests including Guest of Honor Oknha Tay Heang Ly. There was also a special presentation by the children from the Cambodia Care Centre. The top prize winner also got a 3D2N trip to Singapore.Creativity for a Cause:This initiative by The Axis Residences was also for the benefit of the Cambodia Care Centre. The Cambodia Care Centre is a non profit Christian organization that was started in May 2011. It aims to positively affect the less-privileged youth and break them out of the bondage of poverty through the provision of basic education. It has been part of several community outreaches, feeding programs, sports activities and health programs. 100% of the proceeds garnered from the auction went towards programs underway by the organization. On top of this, Axis Residences also donated 10 tonnes of rice to the poor and needy of Khan Sen Sok district during the water festival period.Creativity at the Core:Axis Residences is being developed by Spring CJW Development Pte. Ltd. This developer is not a stranger to the concept of creativity. They list it as one of their company values along with timeliness and worthiness. The Axis Residences follows that ideology. It has a contemporary design that uses both modern and eco-friendly features for an elegant and quality finish. The developers have described this project as an “oasis of tranquility” and being an Eden-like haven amidst the busy city life surrounding it.Learn more about the Axis Residences project today!

Given that many local population’s lack the initial capital to invest in new homes, albeit condo, borey or other, home loans are underpinning the market currently.The IMF have stated recently that buyers across the Cambodian market are taking on more and more credit to buy property, and this is increasing year on year. In fact, the IMF state that loan-to-value ratios have risen to 70-80% in 2016.Owners that have leveraged finance in order to buy properties are generally the first sellers after the market has reached its peak, accentuating risks of a “bubble” bursting in the market.This situation can be amplified when interest rates on those mortgages rise, and rental yields for the completed property drop below prior expectations. Mortgagees reselling their condo units can then add the oversupply, creating a dangerous snowball effect for the market. As debt levels continue to rise, the risks of an eventual credit crash are becoming more of a concern in Cambodia.When credit loans increase, the credit in the market increases, then there’s a cash flow for the citizens and the economy. It is good for citizens when they place this cash into targeted businesses by creating a business with a clear plan. It’s also useful for business expansion, etc. These activities create more jobs for people.Yet there are downsides…Hoem Seiha, of VTrust noted that another credit risk is growing in the 2016 market as developers take financing into their own hands in efforts to stimulate sales growth in the lower end of the market, and particularly the domestic market: “For the recent market stimulus, developers have now offered another very flexible option for home and plot land buyers by applying a zero down payment scheme to drive their sales, and, in the short run, the practice looks good and helpful for the overall market. Yet, while banks are very careful when releasing mortgage loans to buyers, most developers have not conducted enough due diligence on their clients before releasing installment contracts, to avoid future defaults. If not well managed, this could, in the medium-to-long term, create over-indebtedness among unqualified buyers and therefore potentially lead to a mortgage crash. Regulators should study this seriously.”Another potential risk for the Cambodia finance market is the 2018 general election.During election periods in Cambodia there have been a tradition of “capital flight,” whereby multinational companies, dual citizens and affluent locals remove their capital from Cambodian banks, and instead store their wealth offshore. This is seen as a safeguard during times of political uncertainty. Given the correlation between the upcoming election, and the completion and release of a larger proportion of the incoming condo supply, these two factors may amplify the effects of each.Mey Kalyan, senior advisor to the Supreme National Economic Council, noted that general credit across the Kingdom has increased around 30%. The Supreme National Economic Council are aware of the risks this raises, especially in the real estate market. As according to a recent report from the Phnom Penh Post, Mey Kaylan says that, “credit is like fat in our body. We need the fat to function, but we also don’t need too much of it.”In light of these concerns, the IMF have stressed the need for Cambodia lenders to place higher capital requirements on any real estate financing, weigh risks for banks in regards to real estate lending, and ensure that property developers are “under strict regulatory and supervisory control”.Yin Leangkong – editor in chief of the magazine Property View, and presenter and editor of real estate and economics at BTV - notes in a recent interview that, “loan providing institutions should keep lending to people, but there should be a limitation and conditional loans must be specific and clear. When providing loan to people, you have to make sure it will contribute to help for a better standard of living for the customers. For a home loan, it may be suitable with the middle-class bracket. A term loan will provide both affordable standard of living to people. It also profits banks or microfinance institutions.”These recommendations appear to be having an influence in the market as we enter the second half of 2016. Regulatory control of developers has seen a rise in recent months, as policy makers continue to clarify and develop licensing procedures from new development projects. Meanwhile, private lending institutions appear to be tightening lending on real estate, especially off-plan properties.Check out what 5 industry experts have to say about the state of the Cambodia real estate market!

The Cambodia Construction Industry Expo and Summit 2016 is less than a month away and Realestate.com.kh is proud to be official media partner for the event.  Industry professionals from all over the world will gather to plan, discuss, learn, and connect with each other. The event will be joined by construction, financial, architectural, and insurance firms who wish to showcase evolving technologies and services in the field.They said event is strongly supported by different institutions such as the Ministry of Land Management Urban Planning and Construction, Ministry of Labor and Vocational Training, Ministry of Commerce, Board of Engineers Cambodia, Board of Architects Cambodia, the ASEAN Constructors Federation, the International Federation of Asian & Western Pacific Constructors’ Association, and the China-ASEAN Building Material Industry Cooperation.Activities:The Cambodia Construction Industry Summit will feature reports and speeches from esteemed guests such as CCA Chairman Neak Oknha Pung Kheav Se; Chairman of the ASEAN Constructors Federation, Mr. Nattaphorn Bhromsuthi; President OF China-asean Business council, Mr. Xu Ningning, Representative of Neak Oknha Mong Reththy, Phd. Tan Monivann; Vice President of the International Federation of Asian & Western Pacific Constructors’ Association, Mr. Datuk Matthew Tee; Governor of the Phnom Penh Municipality, His Excellency Pa Socheatevong; and the Senior Minister of the ministry of Land Management Urban Planning and Construction, His Excellency Chea Sophara.The Summit will also accommodate reviews and suggestions from delegates that may be passed on to government to improve the industry.The Expo will feature presentations by representatives from companies like the Overseas Cambodian Investment Corporation, Tem Trading M & E Product Co. Ltd., UC Design Build Co. Ltd., KHI Brand, Meng Leng Eav Co. Ltd., Smart Dragons Group Co. Ltd., Camcona Trading (Cambodia) Co. Ltd., CCW Co. Ltd., and Omura Concrete Co. Ltd.And of course, Realestate.com.kh will have a prime booth at this years Cambodia Construction Industry Expo and Summit event! We will be giving away our latest magazine and showing off our latest Virtual Reality Tour products, perfect for making your property listings stand out from the rest!Who’s Invited to the Cambodia Construction Industry Expo and Summit?Cambodia Construction Industry Expo and Summit 2016 will include participants such as property developers, investors, contractors, designers, managers, purchasers, engineers, architects, distributors, and students. The organizers also encourage construction material, water, and plumbing suppliers to exhibit their products and services at the expo. Property Developers, real estate agents, brokers, banks, financial institutions, architects, interior designers, insurance companies, and engineers may also exhibit at the event.The event will take place at Diamond Island in Phnom Penh on December 1 to December 3.Find out more and sign up today!

Home and business security is highly important for residential and business owners in Cambodia. Ms. Sim Kaliyan, the general manager of Global Security Solutions (GSS), recently joined Realestate.com.kh to talk about professional home and business security. There are 2 types of solutions that deal with predictable risks and security precautions in Cambodia, according to her. One is suited to a smaller budget - the other is more comprehensive, but also more expensive.1.  Cheaper Home Security Solution for those on a Tight Budget:Ms. Kaliyan cited that normal middle class families or small businesses can choose this solution. She mentioned some major points to check out:Door, Fence, Key and Window:You must check whether the door of the house and other entry points are secure or not. There should at least be a fence to keep the inside of the property safe. You can use long broken bottles placed on the fence to strengthen it. And it's best to use double steel bars if you have a bit more money and want a better defense. This action will also prevent the fence from being stolen.Steel Bars:You also need to thoroughly inspect all aspects of the outer doors, the lock quality, and the bars of the windows and doors to ensure your home’s safety. Kalyan warns about a possible fire though. It is important to enforce the windows, but it is also important to ensure that you have a backup exit point to yourself in case a fire breaks out. You want to keep people out of your house - but you don’t want to trap you and your family inside in the case of an emergency.Use Motion Sensor Lights:You can also use motion sensor lights that activate when they detect movement outside of the house. You can place these at the entrance, the exits, and on the fence.Other Affordable Home Security Solutions:Kaliyan explains that there are other options to secure your house such as building secret passages. She also introduced ideas like placing a cardboard image of a person close to the windows, leaving your lights on while you’re not home, using a pillow to give the illusion of people sleeping, placing objects that will sound when drawers or desks are being moved, asking for the assistance of neighbors, and not letting people know when you bring home a valuable or expensive product.2. More-Expensive Home Security solutions:Kaliyan said that whatever solution is chosen, what matters most are the “external monitoring and internal monitoring”. But there are more convenient solutions for those with more resources.  These home security solutions include:Electronic Entrance and Fence:You can install electrical wires on your fence in addition to steel bars so that anyone who attempts to touch it will get shocked.Use Light Motion Sensor:You can use “light motion sensors” to protect your home round the clock. However, you need to do a perimeter check to find potential areas where burglars can pass through such as trees.Hiring Home Security Guards and  Installing a Security Camera:You can hire security guards from an agency for your home and build a central monitoring station in the compound. They can keep watch of the camera feed and inspect the house. In case someone jumped your fence and tried to enter, they can take action immediately.Intrusion alarm:Intrusion alarms are also called sirens. In case someone climbs or jumps your fence, the device will ring and alert people nearby.Magnetic Door Contact or Magnetic Door Break:You can install a “magnetic door contact” or “magnetic door break” on both doors and windows of your house. When someone attempts to break in using the door or window, it will signal your smartphone. Other similar alarms include motion sensors and photo beam protectors.Safe Control:For those who have a lot of money, it’s not necessary to use locks. Using “Safe Control” may be the best option because it requires you to either use a card or fingerprint to open.Beware of Dogs:Whether you choose the cheaper option or the more expensive one, you can always hang a sign that says “beware of dogs”. This will give you good results.Learn more about Home Security Solutions on Realestate.com.kh

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:

You have our deepest gratitude for supporting the launch party of the second edition of the Cambodia Real Estate Magazine on the 22nd of October at EPIC club of Phnom Penh!The Event & Magazine by the Numbers:The Cambodia Real Estate magazine party was a roaring success which was experienced by over 650 guests from over 274 leading local and international companies. Including 51 real estate agencies, 37 property developers, 21 banks and finance companies, 16 news and media platforms, 60 architect, construction and related businesses, 7 law firms, and 14 chambers, embassy and ministry related bodies! Making up the huge crowd were 112 General and Senior Managers, 30 CEO’s, 33 Directors, 126 real estate agents, 23 founders, 345 general employees, and 2 excellencies - including our esteemed Guest of Honour: H.E. Mr. Mey Vann, Director General of Financial Industry at the Ministry of Economy and Finance. The party was made possible by 8 very supportive sponsors: Imperial Crown, Ford, The Piano Shop, Cellcard, Kilat Events, E-Design Photography, Image Printing and, our lucky draw sponsor, BOSE. We are extremely proud to have increased our print run for the October edition of the magazine to over 15,000 copies, which are available FOR FREE at over 800 highly targeted and relevant pick up points countrywide. Pickup points include leading developer showrooms, real estate agencies, business lounges, business centers, chambers of commerce, embassies, cafes, restaurants and more! Online distribution of the magazine - through our website, email database and social media platforms - reaches over 100,000+ local and international readers.The Event in pictures:Check out the full photo album for the event. Please like and share!Cambodia Real Estate Volume III – Secure your spot before it’s too late!We are excited to announce that the third edition of The Cambodia Real Estate Magazine is due for release in January 2017. The content for the next magazine is already progressing rapidly and our existing advertising partners are continuing their support for Issue 3.If you would like to advertise in Issue 3 we strongly recommend booking your spot now as we already have limited availability for ad and advertorial space. Please call or email Jonathan Baxter at jonathan.baxter@realestate.com.kh or on +855 (0) 10 561 502Once again, thank you everyone for the support! And we look forward to hosting you all at the next Realestate.com.kh party in January 2017 - sure to be another event not to be missed...Event sponsorship opportunities for the next party in January 2017 are also available - but likewise filling up fast. If you are interested to sponsor our next event and promote your brand in front of the elite of the Cambodian real estate industry please call or email Jonathan Baxter at jonathan.baxter@realestate.com.kh or on +855 (0) 10 561 502Click here to download your free copy!

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 originally featured on B2b Cambodia, one of the leading guides to doing business in CambodiaRealestate.com.kh celebrated its seventh anniversary of operations in the Kingdom in February this year—a landmark for both the company’s founders and the fast-growing Cambodian e-commerce sector. As the first mover in the online classified space for real estate in Cambodia—a market worth billions worldwide—Realestate.com.kh positions itself as a digital marketing partner for the leading real estate agencies, property developers and money lenders in Cambodia, essentially catching traffic from google searches and converting this traffic flow into direct sales, rental and home loan leads for its customers.Realestate.com.kh’s parent company, Digital Classifieds Group (DCG), is based in Australia with classifieds websites across three Asia Pacific markets. The group announced last monththe addition to its board of directors of Tim White, founder and ex-CEO of leading Australian real estate portal, www.allhomes.com.au; a website that White recently sold to Fairfax Media for over $54 million.With the appointment of a such an experienced partner, and sustained growth across all its active markets, DCG looks set to continue to expand its presence in Cambodia and across Southeast Asia.DCG’s entry into the Cambodian market and the rise of Realestate.com.kh is also a local success story for the website’s founder and majority shareholder, Cambodian national Moek Chenda.Chenda comes from an IT background, and was involved in the early creation and installment of IT systems for the Phnom Penh International Airport around 10 years ago. He also spent a large part of his early career developing and implementing CRM and website systems for local real estate agencies.Chenda launched Realestate.com.kh in 2009, using just one of the prime domain names he had purchased five years prior on the advice of a foreign colleague he had worked alongside during the airport project. In its early years, the website was solely managed by Chenda, with more and more local real estate vendors slowly but surely beginning to use his service.“When I was first building the website, my wife used to always bother me for wasting my time on it. She didn’t believe I could ever make money from it. She didn’t believe that websites made money, full stop,” recalled Chenda.“And it’s true. Before the market didn’t believe that a website could produce quality sales leads for their agency or project either. Many didn’t understand the value of SEO and the internet, that is, outside of basic Facebook marketing.”The business took off on all new legs in early 2015 when Chenda entered into a joint venture agreement with DCG, with the website appointing Australian expatriate Tom O’Sullivan, as CEO.“When I met Tom, I could immediately tell that these guys had the passion and the know-how to grow my business quickly, and I immediately trusted them,” said Chenda.O’Sullivan admitted to feeling he had just stumbled across the ideal partner without really trying. “We saw that the domain www.Realestate.com.kh was active, and had been for some time, so we reached out to meet the owner. When we met Chenda, it was clear he was the right choice as a local partner.”“He knows his trade inside out, and his connections within the industries, both IT and real estate, have proven invaluable,” added O’Sullivan. “Furthermore, he’s just a great guy to work and spend time with.”With the expertise and capital investment brought by DCG, Chenda’s website transformed dramatically in terms of user traffic growth and user experience. This led to a sharp increase in generated leads and in the portal’s clientele base.Click here to download your free copy!

Home and business security is of high importance for residential or business owners in Cambodia. Taking precaution for protection and crime prevention requires attention from the right providers in order to ensure that every property of yours is confidently secured.Ms. Sim Kalyan, the general manager of Global Security Solutions (GSS), joined Realestate.com.kh to talk about professtional home and business security. There are generally a few guidelines that deal with predictable risks and precautions for home security in Cambodia.What are the risks concerning home security in Cambodia, and business security?Kalyan says that most of the problems that home and business owners experience are theft, burglary, armed robbery, kidnapping, and fires. She explains that the armed robbers focus on the entrance of the house or areas near the house, while kidnapping could happen at home or elsewhere in order to get a ransom. These can cause injures or can even be deadly.How do you protect your home or business?Kalyan cited that the best solution for these risks is to find a professional private security company to help monitor the residential and business areas. These companies will then provide methods to protect your property. Another solution is to contact the police because they are trained specifically in the field of security and protection.Kalyan also provided two main key points which you can personally check:External Monitoring:Kalyan explained that external monitoring refers to the external aspects of housing such as location – whether it’s an unsafe area, there are reports of robberies, or there are pickpocket boys around. We can also inspect whether or not there are lights on the road. Another factor to check is whether or not the fence is strong enough or high enough.In terms of the home itself, she said that we must inspect the strength of the doors and windows on all levels. She also cautions to be careful with the veranda area.Internal Monitoring:Kalyan said internal monitoring means paying attention to people in the home such as helpers and drivers. This means a clear and thorough review of their backgrounds. We need to be clear who they are or what they are about before allowing them to live in the house. You should even be aware of people like postmen or cable fixers.Another thing Kalyan mentioned is that you need to have is a list of emergency contact numbers. It should be posted on the wall or somewhere where it’s convenient to find.Read more about home security in Cambodia tips on Realestate.com.kh!Click here to download your free copy!

People have been focusing on an affordable housing project by Worldbridge Land. The company’s CEO, Oknha Sear Rithy, says this project is located about 17 kilometer from Phnom Penh. The Worldbridge Land Company will invest around $100 million. Construction will start early 2017 and will take approximately two years to complete. The Worldbridge Land Company just recently officially presented its master plan. The project will occupy a total land area of 202,000 square meters where 107,008 square meters of the land will be used to develop residential units and 76,004 square meters will be dedicated to the development of the roads and garden. It’s possible for low to low-middle income earners to afford this housing project. It costs only $25,000 to $30,000. A recent AKP Report states that some local and Australian investors are planning another affordable housing project for lower-middle and middle class citizens. It will cost $25 million. This project will be located in Khan Porsenchey and Khan Dangkor, Phnom Penh. There is no clear statement about when construction will begin.This upcoming project will have three types of house designs – Khmer style house prices will start at $20,000, Khmer-Australian style houses will start from $25,000, and the Khmer-French style houses will start from $30,000.This will be more convenient for customers. The payment scheme will be a monthly installment at $100. This project will take 18 months to complete.Keep track the new development news on Realestate.com.kh!