Experts and developers in the field still maintain a confident position that there will be continuous growth in Cambodian real estate, most especially for the condo market.This is because there is a growing interest in this type of property as a result of continuous increase in land prices.Kheang Puthy, director of Slek Rith Realty, says that sooner or later the occupancy rate of Cambodians living in condo will increase. Where currently, those who purchase units are people who used to live or study abroad, Puthy believes that more and more professionals will be buying or renting out units in the near future. This is from the fact that there is a growing population of middle- to high- income Cambodian Citizens who are affected by the worsening of traffic conditions.He encourages people to support and be optimistic about the progress of the condos sector. Puthy adds that negativity will only undermine the process of development and may cause the country to fall behind in comparison to neighboring countries that are also rapidly growing in terms of condominium developments. But he warns of a possibility of surplus. If there is an excessive supply, then the government will eventually have to tackle this issue and look for ways to regulate it.Anthony Ong, CEO of Spring CJW Development, said that "Cambodian citizens remain as a pillar for strong economic growth and real estate in the country." He added, "We do have confidence and want people to have good living standards." Spring CJW Development is also an investor in the Axis Residences condominium project which has 566 units located near the Phnom Penh International Airport.He says they really want to help improve the lives of citizens through offering a good place to live in which is comparable to Singapore. He added that the purpose of their investments in the condos project, Axis Residences, is not just to create a home, but to create a desirable housing project with all the necessary amenities.Meanwhile, Cheng Kheng, tycoon and CEO of CPL Cambodia Plc, said that living in condos is a more civilized and modern way of living because condos can have everything people will need such as parking spaces, shopping malls, gyms, saunas, swimming pools and gardens. Kheng adds that Cambodians feel a difference between landed properties and condominium units where they can live harmoniously in a modern setup.According to a research report from a Cambodian real estate agent, land in commercial zones in the city varies by location. In Norodom Boulevard, land can cost between $3,500 and $6,000 per square meter. While in Monivong Boulevard, land prices range from $3,000 to $5,500. In Russian Boulevard land can cost anywhere from $1,500 to $3,000 dollars. It’s relatively lower in Mao Tse Tung Boulevard where you’ll only need to spend between $3,000 and $5,000 per square meter. However, in the top 4 residential districts such as ChamkarMon, Daun Penh, 7 Makara and Toul Kork, it will only set you back around $1,500 and $ 4,000 per square meter in investment cost.Mr. Sarun Rithea, spokesman of the Ministry of Land Management, Urban Planning and Construction, recognizes this difficulty to buy land and build houses, especially in prime areas such as Boeung Keng Kang, Daun Penh and Toul Kork.The increase of land price is due to the land at Delta City becoming a land where investors build high-rise buildings, commercial buildings and condominiums. He said that according to the Municipality of Phnom Penh, land located 20 square kilometers around the city center is also becoming more expensive, but the increase isn’t as drastic as the capital city itself.He said that, "In Phnom Penh, a number of those who have from 1 to 10 homes are only 10 percent. Those who have a home for themselves are about 20 percent, and a number of those who do not have homes, fixed salary and middle-income (citizens) or above is about 70 percent.” Most of these people without homes have houses with their family and can be redeemed with the bank.The report of the Ministry of Finance showed that the growth of condos in Cambodia in 2015 reached 15,000 units and this number will continue to rise to 45,000 units in 2018.While in Phnom Penh, the number of new condos has increased, most customers who bought a unit are foreigners, including nationals from China, Taiwan, Malaysia, Singapore, Japan and France. Statistics showed that there are 20 percent of Cambodians who are condominium owners, while another 80 percent are foreigners. Find  more real estate news on Realestate.com.kh!This story was featured in the September 2016 print edition of PROPERTY VIEW magazine, produced by the CVEA.Realestate.com.kh is very proud to support the CVEA’s Property View publication. For more information about joining the Cambodian Valuers and Estate Agents Association (CVEA) please click here. And, if you are interested in advertising placement or advertorial in the next edition of Property View Magazine, please contact Mr. Virith via email: virith007@yahoo.com Or call: 078 959 567  or 098 66 26 68

With new developments established by foreign investors who find the Cambodian condo market attractive, information and education regarding the condominium market has steadily grown throughout the years. But generally speaking, different experts have different outlooks and opinions regarding investing in this market.Chrek Soknim, CEO of Century 21 Mekong, says that if you’re considering investing in the condo market long-term, then you won’t be encountering any serious challenges any time soon because the trends remain to be stable and projections are optimistic due to the fact that there are still lots of condominium units in supply.But Soknim warns that with the growing number of foreign investors coming into play, sales may regress or slow down a bit due to stiff competition. So, they would have to consider adequate and efficient financing for their projects.Soknim states that "when there is intense competition, it requires investors to have a precise capital. Otherwise, their projects might face a stalemate in middle plan if investors expect to get funding from buyers to develop the construction project."Hoping for a great outcome, he says "even if the sales are slower than before,” he does not see any difficulties that may result to the condominium market getting stuck.Find out real estate news on Realestate.com.kh! This is also what the director of TOWN CITY Real Estate, Vann Chanthorn, thinks. He explains that there are many projects that are still selling well, especially projects that focus on middle-class customers. He reaffirms that overall, there is no urgent problem and that the condominium market remains strong. This is confirmed by a recent survey done by CBRE Cambodia conservative estimates show that the condo market in the country will increase by 794 percent from now until 2018 and that the supply will increase to a total of 21,414 units. Kim Heang, president of the Cambodian Valuers and Estate Agents Association, said that the number of condominiums that have been built for the current domestic market left a surplus. He said that if investors are thinking about the ASEAN market, there is still much that remains to be seen and that what is important now is to get more ASEAN investors into the sector. If the sector remains stagnant, may not always be the developer’s fault because the government should be doing whatever it takes to attract investors. He continues to say that if water, electricity, and transport costs remain high, then no one might invest. But Heang clarifies this by saying "the laws is already existing, but it is important to all people to respect the law. Demonstrations, demonstrations without rules, so let's address this issue altogether." It is a collaborative effort. Kim Heang adds that the biggest pitfall more than 50 percent of condo developers are finding at the moment is that borrowing money to assist in funding construction presents more of an issue than a solution. He says that some of the developers are now facing deadlock. But there seems to be no problem right now for those who have obtained land and a precise investment capital. He explains, "It does not matter in this industry, but it will have trouble for individuals who borrow money or take money from customers to build." Taking a more positive approach to the surplus issue, Kuy Vat – chairman of VTRUST GROUP which bought the Master Franchise Century21 to Cambodia – said that when the condo market reaches surplus it can be used as an opportunity for investors and clients. They can buy a condo while the values are still low. Customers will find this beneficial because they are presented with more options to invest. Henry Wu, CEO of MATSU Property which is based in Taiwan, remains to be optimistic and believes that there are great opportunities in the Cambodia Condo Market. He said that Phnom Penh is small but being the capital, it is the heart of the country and has a total area of about 20 square kilometers. This means that construction of high-rise condos that have pristine accommodation, comfortable service, and amenities like swimming pools, security, shopping malls and management will be strong contenders in the near future and will be a factor in the continuous increase. Wu continues to say that Cambodia is a country which has flexible control over currency and has more freedom among countries in the region. Cambodia also does not collect tax on profits in the sector, and investors can go in and out freely, especially now that the property cost in Phnom Penh is relatively low compared to cities of the of other countries in this area. He added that "people in the city are about 2 million and condo costs at a very low price compared with other countries in the region that all these factors have attracted great interest from foreign investors for real estate here." Wu also establishes that foreigners have known markets in Bangkok, Kuala Lumpur, and Hong Kong, but were not familiar with Phnom Penh. But he expects this notion to change by 2023, when Cambodia hosts the Asian. He predicts that Phnom Penh will flourish during this time. He concludes by saying that "if you invest in condominiums, for people with middle-income, there are no signs of anything alarming, but I worry about the condo kind of luxury, which are expensive." While experts may disagree on certain aspects of the condo market, it is important to note that there are similarities in their individual analysis. These may provide better insight for those who are wishing to invest in Cambodia within the next few years. This story was featured in the September 2016 print edition of PROPERTY VIEW magazine, produced by the CVEA.Realestate.com.kh is very proud to support the CVEA’s Property View publication. For more information about joining the Cambodian Valuers and Estate Agents Association (CVEA) please click here. And, if you are interested in advertising placement or advertorial in the next edition of Property View Magazine, please contact Mr. Virith via email: virith007@yahoo.com Or call: 078 959 567  or 098 66 26 68

On the 20th of August 2016, the Cambodian Valuers and Estate Agents Association (CVEA) conducted a public forum regarding "Today’s Real  Estate Industry in Cambodia" at the Sofitel Hotel in Phnom Penh. The discussion-based event was joined by an eclectic group of stakeholders – including property developers, media organizations, real estate agencies, banks, and the general public.In a panel discussion about the “Opportunities and Challenges of Housing development,” Ms. Chan Socheata, the Head of the Office of Business Management Housing Development at the Department of Industry and Finance, said that “everyone needs to posses their own house. So, why do they need to have a legal license? How is it significant or important for the buyer?”What does a developer need to do while Licensing a development project in Cambodia?She mentioned that “generally, before the issuance of the license for any project development, the ministry evaluates through its checklist to find out whether the development has a clear and strong source of income, capital, collateral, land title, and other assets that support their project, especially because project owners need to make a business plan to present to the ministry.”“The ministry will check whether it’s a good business, and if it can be successful in the future or not. In some cases, there’s a need to research on the sales strategy of the project, because sometimes a project’s owner does not do an in-depth market analysis with the surrounding market. And another reason is to find whether this project causes a bubble market. So, if this case happens, the ministry can take measure immediately,” says Socheata.Socheata also mentions, “If we find that the sale price of this project is under the market price, we can allow managers to reconsider again about the selling price – comparing start cost and other conditions – in order for them to sell at a good rate.”How much upfront capital is required for a developer licensing a development project in Cambodia?“The project development needs to have at least 2% of the total capital deposited in the bank of Cambodia or any commercial bank in Cambodia. Even though this deposit money is a small amount, it shows that the development has its capital. And it also causes the customer to trust the project too,” she added.  Socheata concludes by saying that “all project developers have to get a license from the Ministry of Economy and Finance. And this is something that any buyer should seriously consider before buying residential properties off plan, whether condo or borey. Keep in mind to ask whether that project has got a license in order to protect your own benefit and not waste money with unnecessary trouble.”Check out the latest Boreys and New Developments on Realestate.com.kh today!

There are many modern residential homes in Phnom Penh city, whether they are villas, boreys or condominiums. But looking at the different types of properties, it is apparent developers are increasingly interested in building high-rise condominiums that are suitable with the local standards of living and are marketed at this group of buyers, particularly the young and modern Khmer families.Find out more about new developments on Realestate.com.khBut what do the local Cambodian buyers think about living in a Condominium? In terms of the standard of living in Cambodia, the concept of high-rise residential units has already become a trend. As Mr. Vorn Chan Thorn, CEO of Town City, puts it: "If we have sufficient financing and want to have a monthly income, we can buy a condominium in the city for leasing because it is convenient and brings in a fixed monthly income of about $ 1,500." Many people today are also changing the way they think about the standard of living, where comfort and privacy are held in high regard. These are things that those who buy a condominium need, according to businessman Pin Pisey. He says, "I bought a condo a year ago near Sansam Kosal Pagoda. I bought it with a bank loan, and I wasn’t interested in buying it for resale. I like the atmosphere of living like this, it has security and privacy."Condominiums are also now adapting quickly with a more modern and younger generation. Mr. Ros Chesdathepadey says that he’s lived in a condo and just bought a new unit at D' Seaview at Sihanoukville. He adds, "I’ve lived in the Rose Condo approximately 2 years and living with safety, good environment and in the center of town - it is private and there are various services together in condominiums, such as: shopping malls, gyms and swimming pools, all the service in condo very convenient"In contrast, Mr. Mao Sambath said, “I think that condominiums are very nice and offers a modern way of living. However, it is not fit for the Cambodian lifestyle yet. I will not buy a condominium because most of the developers are not trustworthy. Most of the time, they don’t own the land and they use the customer’s money to construct the building. What if the sales aren’t as good as expected? The project would stay still. And who likes a 99-year plan? We need assets for the future generation. Who would not love living life in the heart of the city, above everyone? But condominiums aren’t good investments yet for Cambodians. There are many lands and houses available. I’d rather buy a house and then decorate it nicely. I would not buy a condominium and then worry for the rest of my life about the future of the building, the quality of the building, and all the hidden costs for monthly services.”It seems like there’s a shift happening for the way of life of the locals, and foreigners who come to work or live in the country."The number of housing purchases and loans for condos are more noticeable for both domestic and foreign guests. Locals think it’ easier to live in these types of properties in particular because it’s in or near the center of the city. Foreigners buy them for investment and for residential use", said Heng Sreyneang, the Housing Loan Officer at Canadia Bank.“The Borey Villa Toul Sangke condo project’s concept is focused on helping locals change their standard of living from traditional to a more modern one. It also aims to provide comfort. This residential property is exactly that. It brings a high standard of living.” This is according to Mr. Andy Kong, the general manager of the Borey Villa Sangke company.As a newly-released Century 21 record says there is a total of 110 condo projects with 148 individual buildings, both finished and ongoing, or around 37,570 units slated through to 2020. Will the local market grab the chance to live in these new style of homes? Time will only tell.Find out more about new developments on Realestate.com.kh

Whether you are looking for your dream home or buying a property for investment, the place to be is at the CAMBODIA PROPERTY & INVESTMENT EXPO ’16. It is where the latest commercial, industrial and residential properties from top developers are showcased. What’s more, you can get the best deals as there will be special discounts and free gifts offered only at the Expo. Make sure you drop by at the Diamond Island Exhibition & Convention Centre, Koh Pich, from 8-10 September 2016 for the Biggest Property Show of the Year! When you are at the Expo, you can also visit CAMBUILD’16 – Cambodia’s Biggest International Building, Construction and Interior Décor Show for the latest building and interior design products. See the full list of property developments on show at this year's expo and find out how you can join this years event!

Knight Frank has just released the Prime Asia Development Land Index for the first half of 2016. The index chart’s prime residential property land prices (land used for apartment or condominium development), commercial space land and offices and prime development land across 13 major Asian hub cities. Phnom Penh prime land prices are show to have cooled notably since last year. The report notes that prime residential land index in regards to Phnom Penh land is now at 5.8% in the first half of the 2016, slowing compared to the first half of 2015 when it was as high as 16.2%. This marks a fall in prime residential land prices across the city. Prime Office land similarly was reported to have taken a fall. In H1 2016, the index for Phnom Penh land records 5.6% - compared to 14.8% the same time last year. Prices aren’t falling, but the rate of growth is slowing. The tables show price increases for the first half of the year (5.8% growth for residential) and price growth during the past year – year to June – so the increase from June 2015 to June 2016 (16.2% for residential). Thus, if we double the 5.8% to give an indication of price increases over 2016, we would get 11.6%. So, it’s still good growth, but it shows that the market is slowing down but not declining (11.6% growth compared with 16.2% growth). Ross Wheble, country manager for Knight Frank Cambodia, comments that, “Whilst Phnom Penh land still ranks within the top four cities for year on year growth in prime land prices, for both residential and commercial land, the figures for the first half of 2016 indicate that the rate of growth is slowing which, in part, can be attributed to the anticipated short term oversupply of condominiums which has impacted on demand for land in prime locations. However, whilst the rate of growth is moderating, land prices are still expected to achieve double digit growth over the course of 2016 and we continue to see investment inflows into Cambodia.” These trends in Phnom Penh appear to come with a region wide cooling. The report details that Asia-wide development land investment volumes are on par with the same period of 2015. The residential index slowed in pace to 1.9% across the region, compared to 2.8% the half year prior. However, office development land however rose 3 points, from 1.9% to 2.8%. Want to read more, check out the latest Market Highlights report from Knight Frank Cambodia.

The Phnom Penh serviced offices market is a relatively new real estate market in Cambodia that has made a huge impact on the local business sphere since units started to become available in Phnom Penh a few years ago.Mr. Anthony Galliano – Chairman of BG Serviced Offices in Phnom Penh – recollects from his experience in Cambodia that before 2012, serviced offices was almost a non-existent industry.Galliano explains, “I think, conceptually, the market took its time to understand the model. But it’s been a fantastic business.” He continues to say that serviced offices are now an established business model in Phnom Penh, with many different operators across town.The All-in-one Solution:One of the qualities that have made Phnom Penh serviced offices popular is the convenience of not having to bring in all the tools for business - instead, they are already waiting for you. This is particularly useful for new foreign owned business ventures, especially the small scale, looking to test the Cambodian market without all of the hassle of transporting an entire business abroad.Galliano says that the good thing about set-ups like these is that you’re not just paying for the space. You’re paying for that space and everything in it.But of course, depending on the office grade, different things will be included.The Variations:Galliano details that you can currently rent Phnom Penh serviced offices from the 10 to 46 square meter range and it will only cost you around $25 to $28 per square meter a month. If you are a startup and just need a small office, the 10 square meter unit should be enough for a two-man staff set-up. But prices can still vary depending on which office grade you opt for. Currently, there are a lot of C-grade serviced offices around Phnom Penh.Galliano explains that this is because A-grade offices initially had very high rental prices compared to local norms. But because landlords have come to their senses and gave more realistic rental rates, it’s now seeing an increase in demand.He adds that B-grade offices fill up really quickly now too because it’s better quality than C but still affordable. Another reason for the B grade popularity is because the supply is not as large as C-grade offices, says Galliano.As evidence of this growth in higher grade offices, Regis will be doing higher scale and higher quality serviced offices to take advantage of the growing demand.As a precaution though, Galliano warns that C-grade offices are okay, but you have to look for the right landlord and be able to discuss terms with them. Since this is a lower grade office, landlords tend to be less generous and attentive.Renting Versus Owning:When asked about the developments who are now targeting office strata titles to be able to offer office ownership opportunities for locals and foreign investors, Galliano says that it’s a strange concept because it may not serve the best interest of business owners.He explains that this may cause difficulties in transferring from one office space to another, especially for an expansion or merger. He states, “You don’t want to be stuck owning an asset that you have to pay for,” because it will only bring you additional business costs. He clarifies though that while it may have some potential, right now the economics of this offer just doesn’t make sense to him.No matter the case, there is a clear expectation of continued growth for the office sector in the next couple of years as Phnom Penh continues to attract new business venture from abroad.Find out the latest Commercial space outlook in Knight Frank’s H12016 report!

In their abstract for a paper entitled “Infrastructure Development and Real Estate Values in Meru County, Kenya”, authors Mbaya Murungi and James Gatauwa describe infrastructure as an element that directly affects property value. The ease, convenience, and accessibility these infrastructural developments bring plays a key factor in how properties are sold, anywhere in the world.If this relationship is true, then this should predestine Cambodia’s future real estate growth and can suggest an increasingly positive outlook for buyers getting in the market now. As investors flock towards the nation and its growing economy, newer infrastructures also continue to quite-literally rise from the ground to help both sides of the economic spectrum, the wealthy international investor and the local populous. And while these new amenities will add costs for both purchasers and renters, it will also provide ease and comfort for people moving into different regions of the country.  Phnom Penh International Airport Expansion:Property Report, in their recent article, states their case in showing the correlation between airports and rising real estate prices. They mention a growing interest by wealthy investors with properties located nearby international bound airports, thereby increasing sales of prime developments in the area.As such, a $23 million expansion of the Phnom Penh International Airport by a Malaysian company in 2015 drew an enthusiastic reaction as it was expected to bring in more tourists and more wealthy investors. This was however short-lived as the announcement that the project was halted began to make its rounds, along with news of demonstrations that were being held by neighboring residents of the PPIA. In response to this, soon came news from the Senior Government Minister regarding plans for a totally new airport near the city outskirts. If the plans push through, the government’s target date of completion would be 2025. With this new airport, the government also seems to be considering mass transportation systems upgrades to fast track those travelling to and from the airport into the city.In line with this, new types of multiple entry tourist and business visas are set to come into effect on September 1 2016, easing entry requirements greatly for regional investors and retirees.Completion of Railway to Poipet:Hosting a Thai-Cambodian border in its area, Poipet has long been a transition town where cargo and travelers pass. But delays in this small gateway town have traditionally plagued logistics and trade inefficiencies.One solution that has been put forward and is now nearly within reach is a new railway system that will connect Phnom Penh and Poipet. This new system is expected to allow much more direct access to Bangkok from Phnom Penh and vice versa. With only 6 more kilometers of tracks needed, completion is expected at the end of 2016.In addition to this, Sihanoukville is also expected to experience a boost of trade and tourism through the reopening of the passenger railways that connect it to Phnom Penh.Sihanoukville Port Development: Other than the over-arching improvements currently being implemented in the humble beach town of Sihanoukville, a great deal of work has also been put into the expansion of its port area.Having the only deep sea port in the country, particular emphasis has been made to ensure that it is able to accommodate sufficient trade and transactions. The expansion and functionality upgrades throughout the years has brought many business owners huge benefits and is the overriding factor that is drawing new foreign direct investment into the province. The Sihanoukville Port Multi-purpose Terminal Development project alone, which Japan has helped fund, will cost around $75 million and is estimated to be completed by the end of 2017. The end goal for Sihanoukville Port is that full size cargo vessels will be able to port at Sihanoukville, making long haul import and export around the world less costly and faster. Currently, Sihanoukville can only harbor feeder vessels that would then need to travel to ports such as Hong Kong, Singapore and other regional post in order to transfer containers onto the larger long haul vessels. In the future, full size haulers will be able to travel direct to worldwide destinations.Roads and Transport:With the growing population of Cambodia and particularly Phnom Penh, accessibility and traffic definitely play a big role in the values of residential and commercial properties.So, news of Japan donating 140 new buses, valued at over $10 million, was received well by the Phnom Penh working class. These units are expected to service the citizens much more efficiently by 2020 as bus lines are set to continue to increase yearly. Currently there are 10 lines across Phnom Penh. The regional road systems of Cambodia are also expected to experience changes in the next few years. China – through the firm Henan Provincial Communications Planning, Survey, and Design Institute – will develop an expressway along National Road 4 (Phnom Penh to Sihanoukville) after the go signal was given for the China Road and Bridge Corporation to push through with a proposed highway project recently.This comes at a time when Sihanoukville is under a period of growth and developmental changes; and, as anyone that has travelled to the beach town by road will know, a wider, direct highway will benefit this growth hugely.In addition to this, National Road 5 is also expected to strengthen the efficiency of trade with Thailand through a recent grant from Japan.Learn more about Cambodia in our extensive location profiles!

Market SummarySen Sok district (Khan in Khmer) has experienced a rapid growth, especially in term of residential, commercial, and infrastructure developments. Thus, land prices in the whole district increased markedly within the last couple of years. By the end of 2013, average market price of land in Sen Sok was US$380 per sqm. In the first half of 2016, average market price in the district rose to US$690 per sqm, with average growth of 27 percent y-o-y from 2013 to 2015. Nevertheless, land market prices across Sen Sok district have stagnated since the beginning of 2016, making Q1-to-Q2 2016 list price ratio to drop to 99 percent, though minimally, as property sellers were testing the market at which a reasonable market price should be met.Tuol Kouk district, on the other hand, experienced a slight rise in land price within the same period, from average market price of US$2,150 per sqm in 2013 to US$ 2,530 per sqm in early 2016, growing at 6 percent y-o-y within the tracked period. However, across Tuol Kouk district, Q1-to-Q2 2016 list price ratio dropped to 99 percent due to real estate market stagnancy since the start of this year.In sum, these two districts both of which lie northwest of the central Phnom Penh have enjoyed a rapid growth in term of residential and commercial developments. The suburban Sen Sok district, for example, has witnessed a noticeable pace of developments, especially mixed-use landed housing and infrastructure, which gives rise to a change in the skyline and rapid surge in land prices over the course of the previous three years. This growth will continue its pace as developers foresee market optimism over the next coming years.Land Market PricingTuol Kouk DistrictOver the last preceding decade, Northern fringes of Tuol Kouk district was the first main destination for residential relocation because of its available large portions of vacant land and a neighborhood of the central parts of the capital.  Land prices across the district, therefore, started to surge ever since. In 2005, average market price across the district was about US$1,100 per sqm, with a threshold of US$450 per sqm along secondary streets to US$1,900 per sqm along primary streetsEarly this year, average land market price across Toul Kouk rose to US$2,530 per sqm, while some of the prime commercial streets could fetch a market price as high as US$5,750 per sqm. Over a decade, average growth rate of land prices in the district was about 10 percent y-o-y, and during the last three years the growth was about 6 percent.Remarkable land price surge was seen in Boeng Kak Ti Muoy and Boeng Kak Ti Pir, both of which are Tuol Kouk’s northern communes adjacent to emerging Phnom Penh Thmey of Sen Sok and densely-populated Tuol Sangkae of Ruessei Kaev district. The former grew at 17 percent y-o-y within the period from 2013 to 2015, and the latter, 13 percent. The two communes’ higher growth in land market prices, if compared to that of other communes in Tuol Kouk, was pushed by two key factors. First, because of their relatively small market price base (from a minimum of US$650 per sqm in the last three years), a small price jump could see an enormous growth in y-o-y rate. Second, their attractive, emerging locations have been ideal for residential towns, high-rise developments, and commercial establishments, all of which pushed market demand to rise. As a result, buyers were willing to accept the offers and through this, the market prices started to increase relatively more quickly over the last three years.On the other hand, many parts of the Tuol Kouk seemed almost to reach their price caps, as many available development and establishment opportunities have now appeared elsewhere throughout many of the peripheral parts of the district and its neighborhoods, offering much lower prices and promising opportunities. Such parts almost reaching land price caps are Phsar Depou, as high as US$5,750 per sqm and Tuek L’ak, as high as US$5,200 per sqm.Sen Sok DistrictOver the previous three years, property market prices across Sen Sok witnessed a double digit growth, with 27% y-o-y from 2013 to 2015. Back to 2013, average land price across the district was US$380 per sqm, and it grew to US$690 per sqm in the first half 2016.Khmuonh, one of the four fastest growing communes (sangkat in Khmer) of Sen Sok district, enjoyed a relative quick pace of residential town (such as Grand Phnom Penh International) and infrastructure developments, with main streets such as Hanoi (St. 1019) almost finished this year and Tumnup Kop Srov Road (the capital’s ring road) due to completion sometime soon. As a result, average growth for land price in Khnuonh commune was 35 percent y-o-y, from US$230 per sqm in 2013 to US$480 per sqm in the first half of 2016, with market prices along main streets ranging from US$300 per sqm to US$710 per sqm.Krang Thnong, adjacent to Phnom Penh Thmey commune and a quick access to the prominent Russian Boulevard, also witnessed a double-digit growth in land prices, with an average of 29 percent y-o-y, from an average of US$110 per sqm in 2013 to US$210 per sqm in the first half of 2016 across the commune. The enormous growth in land prices was driven mainly by residential potentials thanks to many available parcels of vacant land, including residential plot land movements and ongoing town development such as Borey Maha Sen Sok by Japanese developer Creed Group.Phnom Penh Thmey, adjacent to Boeng Kak Ti Muoy and Boeng Kak Ti Pir, the two prominent communes among 10 of Tuol Kouk district, also experienced a double-digit growth, having stood high thanks to its development potentials and strategic market position where several remarkable development projects such as borey New World (La Sen Sok), second project of AEON Mall, and borey Chip Mong Land, to name a few, have already been pinned up on the map. Thus, land prices grew at average 19 percent y-o-y within 2013-2015 period, from an average of US$530 per sqm in 2013 to US$830 per sqm in the first half of 2016. Remarkable potentials in Phnom Penh Thmey commune have been also seen after the completion of main infrastructure, for example, Oknha Mong Reththy and Hanoi Street.Market Performance Tuol Kouk DistrictA central zone of the capital, Tuol Kouk district has experienced a tremendous change in its skyline and infrastructure, which led to an increase of property demand as well as prices across the district over the last three years. Yet, average SP-to-LP ratio across property market in Tuol Kouk was 95 percent in 2015, while average original-to-last list price ratio dropped slightly to 99 percent Q1-on-Q2 2016.Low pricing ratios were noticeable in Phsar Depou Ti Muoy commune, where SP-to-LP ratio went down to 90 percent, lower than those in any other communes across Tuol Kouk district. The low pricing ratios in the two communes could be dragged down by the disruption of Techno Flyover construction process that affected on profitability of prime business spots along Russian Boulevard and its surroundings, thus resulting in less-commercial options for buyers to seriously consider the properties over there.Sen Sok DistrictDespite enjoying a significant growth in most parts of the districts over the course of the previous three years, Sen Sok’s property market heat has been slightly cooled down since early 2016 due to overall slowdown in property transactions. Given that average sale-to-list price ratio (SP-to-LP) was 93 percent in 2015, average achieved sale rate across the district was 7 percent below the original list prices, although H1-on-H2 2015 list price ratio (LP) rose to 101 percent. However, during the first half of 2016, average original-to-last list price ratio was 99 percent Q1-on-Q2.The fact that pricing ratios, typically sale price, went down to 93 percent across property market in Sen Sok district means there were many available properties, especially numerous unoccupied homes and vacant parcels of land, and therefore buyers have more power to negotiate for a lower price. Nevertheless, that average original-to-last list price ratio went down to 99 percent was a sign that many of sellers were adapting their asking prices to cope with less aggressive market demand during the first half of 2016.Outlooks and TrendsWith an organic trend of relocation from the central city to suburban and peripheral areas of the capital in a bid to cope with rapid land price growth, accelerating traffic pressure, and increasingly overcrowded city dwellers, a number of people have started to move out to several suburban parts where they form new towns and communities, remarkably since the five years, and Sen Sok district is no exception.Major development trends have been noticeable across Sen Sok, especially its Phnom Penh Thmey commune, which is situated northwest of its neighboring Boeng Kak Ti Muoy and Boeng Kak Ti Pir of Tuol Kouk district. Today, throughout many parts of Phnom Penh Thmey are situated many of finished housing projects such as (1) two of Borey Peng Hout projects the Star Emerald and the Star Quarteria, all of which are along Oknha Mong Reththy Street (1928 St.), (2) two of Borey New World projects, one of which is located a hundred meters off Mong Reththy Street and another is on Oknha Try Heng Street (2011 St.).Another ongoing Borey New World (La Sen Sok) on Oknha Mong Reththy Street has been almost finished, whereas only its community shopping mall remains under construction. Further, Borey Park Land (Sen Sok) along the same street is due to completion sometime next year.More importantly, the second project of AEON Mall by Japanese developers has been pinned on the map in the most promising zone, immediately adjacent to Borey New World (La Sen Sok) and less than 800-meter-radius ring of Camko City (southeast), Borey Angkor Phnom Penh (north), Borey Park Land (southwest), and Borey Peng Huot (south). These factors have brought about more demand for the area, including housing unitsand parcels of land, thus pushing prices to hike rapidly.Phnom Penh Thmey is a popular location for buying a first home,being voted by 20 percent of the surveyed prospective buyers (conducted by VTrust Appraisal), ahead of other areas such asChrouy Changva (16 percent), Stueng Meanchey (11 percent),Toul Kouk (11 percent), unspecified areas (17 percent), and otherareas combined (25 percent).This research report was a production of V Trust Appraisal.

Many Cambodians are faced with the question of whether it makes most financial sense to buy or rent a property, whether it be an apartment or condominium in downtown Phnom Penh, or a villa or shop house around the border city limits.Others are looking for purely business purposes, and some want a piece of property fit for both living and commerce.Realestate.com.kh spoke with real estate industry insiders and a range of buyers and renters to get their opinions on what is the best option for those seeking a property now, but not sure whether they need to buy or rent a property…Buy or rent a home for living?Home ownership is very common in Cambodia, and most local families aspire to owning their own home and having total control over that property. Yet, despite this desire to have a place that is truly yours, for some purposes renting may make more sense in terms of you and your families long term financial health.Advisor of VTrust Appraisal, Mr In Setha comments that, “buying a house to live in is better than renting one.” The reason being, as the price of property continues to rise in the Cambodian market currently, your purchase now should become a more valuable asset in the future.“As the population grows in Cambodia, through both local increases and immigration, more businesses will start. This will lead to more demand in the market overall, and the price of property will generally increase too. When the home buyer of today wants to sell that home in a few years, they will come out with a profit,” says Setha.He continued to say, “if renting a house, you need to pay the rental price and other operational costs every month, and these costs can become quite expensive. If you can afford to purchase a home outright, instead of paying your landlord, why don’t you choose to buy a home and pay part of your own money and some via a home loan paid back in affordable installments.”That way, “Ten to fifteen years later you possess a residential asset.”Mr. Va Vireak, chairman of Century 21 Fortuna Investment, agrees that if you need a house to live in, buying is a good choice, whether or not you have enough money to buy now.“You can manage the costs with a bank loan and then you have your own asset on 10-15 years,” says Vireak.He adds one warning, however, “you must make sure you have a safe income every month to pay the installments for the bank loan, or else it is very risky to take a home loan. Only borrow what you can afford to pay in installments and don’t be greedy.”Mr. La Sithol, a recent homebuyer in Phnom Penh, said that, “When asked if I should buy or rent a home, I prefered to buy a house. Buying a house is good because in the future the price of this property will only increase. Even if it puts you in debt now, you can profit in the future.”“Personally, i believe by buying a home you are investing in the future,” said La.La also mentioned that “if you don’t have enough cash to buy upfront now, or are unable to borrow from a bank, rent an affordable house for the time being, and save your extra money to invest down the track. Don’t waste your money renting the perfect house - instead, live cheap now and save for your perfect home in the future.” However, Mr. Ky Sophoeun, a teacher in Phnom Penh said that, “I think that renting a house is a better option for those in business, because by not committing to a home loan or large upfront payment, we have more capital to inject into our growing business.Sopheourn continues, “It is even better if you can use that rental house for dual purposes, living and running a business: If you can lease a house at the right place and the right location, it is not only a convenient place for you to live with your family, it is concurrently available for doing business to generate more money. This will soon legitimise your rental rates.”Sopheourn says, “Renting a house allows us to have some extra capital to operate the business. If we spend all our savings purchasing a house outright, all money saved will flow into that payment or into supplementing the home loan, and there will be no money left for trading, and that means no money coming back either!”However, Sopheourn does say, “But, if we have enough money for a house, let’s buy - but always make sure we still have money do business!”What about when purchasing a business property?Mr. Chhim Saolim, staff of a financial institution in Phnom Penh said, “The situation is different depending on what you need the property for: if it is the place to live, buying a home is better. But if it is for commercial uses, renting is always better.”He explained that, “for business purposes, renting is always the best option. Why? Because a business is always changing… When you are just renting, you are able to be flexible to this natural change when it occurs. If your business grows, you can change your property - and the same if it shrinks or changes its purpose.”However, Va notes that, “While renting a place is generally the best option for a business, for an established business buying may be the right choice. For example - your company has a very good brand and everybody knows where it is, and it is perfectly set up for your business operations; If you are renting and then the contract for your office ends and you cannot renew, nobody knows where you are anymore and you lose the setup you have. Meanwhile, someone else can use your business property if they take the rent, which is already perfectly set up for your kind of business, and start to do the same business. What happens for your business then?”Want to learn more about investing your money in property? Get in touch with the leading real estate agents in Cambodia today!

The office space sector has seen rapid growth during the first half of the year and is expected to focus more on prime properties in its second half. This is according to a report that was recently released by Knight Frank.But even with high quality offices continuing to change Cambodia’s landscape, it offers few opportunities for entrepreneurs and startups to find a space that will allow them to go beyond its full potential.This is something that the Emerald HUB aims to address.In an interview with Ms. Sou Monypich, she mentions that as part of the Emerald+ Property Management Services’ desire to pursue social responsibility, the Emerald HUB Co-working office space was built.Emerald Hub is designed to create an atmosphere conducive to creating up and coming game changers in the different sectors of the local economy. Based in the capital city of Phnom Penh, the Emerald Hub provides entrepreneurs access to not only an office but also facilities like meeting rooms, air-conditioning, Wi-Fi, printing services, a pantry, and all that anyone starting out in business would ever need.Beyond the Typical:Deciding to take a piece of the creative culture in Emerald HUB also guarantees that you will get more than just an office. Ms. Monypich says that their end goal is to provide the necessary support to help any entrepreneurial venture take flight.This means that there is a collaborative effort between you and their mentors on product development, creative design, financial management, and sales & marketing. They also offer trainings and different fun activities for people who call Emerald Hub their business home.More than all these benefits, it is also a place where you can meet like-minded people who are willing to network to create better business concepts that will make a huge impact on the way we currently look at doing business.Ms. Monypich says Emerald Hub allows “a space with a lot of people from different backgrounds, from different expertise, and for them to exchange the information.”Size and Time Doesn’t Matter:Ms. Monypich explains that more than a co-working space, they also offer private rooms which corresponds to around “8 or 9 square meters per room.” These rooms can be rented out by startups who need a more secure and enclosed space for them to be able to focus on specific tasks. Nevertheless, they are still able to mingle with fellow business people through the common areas of the property.She adds that you can rent out these spaces for as low as $30 a month. But if you only need a temporary work space, they also allow you to rent out an area on a per day or per week basis. These terms offer a more flexible and convenient way for both individual entrepreneurs and the small startup companies.If you have questions or want to find out more about how you can use this space to grow your business, you can contact Emerald+ today!

Sino Plaza held a press conference at their showroom in Phnom Penh Friday last week, July 29, 2016, to announce their official launch for bookings.Sino Plaza’s 4 towers will rise to a height of 45-storeys each, located in the south of Phnom Penh city near Beoung Trabek Plaza, Sangkat Beoung Trabek, Phnom Penh.The project started construction in early 2015, and now all foundations are complete, with around $15 million already invested into the construction work. The total project of Sino Plaza is worth more than $200 million and will be entirely finished, ready for occupancy, in 2018.This project is a venture of Cambodian Natural Lucky Real Estate Development Co. Ltd, wholly owned by CYTS (China Youth Travel Services) from Hong Kong and China.According to Oknha Cheng Kheng, executive chairman of CPL, exclusive sales partner of Sino Plaza in partnership with Huttons CPL, "Sino Plaza is actually one of the most sustainable developments in Phnom Penh now. The number of units provides economies of scale for maintaining a development with the most-extensive onsite facilities. The Office Tower will ensure that commute time to work is minimized. Meanwhile, the completeness of the retail mall is unique: with International SPA, Gold Center, Supermarket, International  KTV and restaurants serving cuisine from around the world.”“Considering the convenience, completeness and the high potential appreciation from rental yield and capital, Sino Plaza will be the most desirable development for at least the next five years or more."Oknha Kheng continues to say that, “This is the first ever development in Cambodia that the developer is adopting the foreign method of CSR (Corporate Social Responsibility), allocating a certain percentage of units at a very special price for the Local Cambodians only. Encouraging the locals to strive for a better lifestyle at an achievable budget is a very clever approach. This is the developer’s way of giving back to Cambodian society. The whole tower is actually priced slightly lower than market rate to ensure the affordability for Cambodian with end-user financing and the development ultimately will not be a ghost-town.”Chhoeung Sotheara, head of sales for the project Sino Plaza at CPL, said that "this area is a matured neighborhood with amenities and conveniences nearby, surrounded by embassies and government departments. Yet it is only five minutes away from BKK1 where most international schools and eateries are located. The potential for capital appreciation is very high here."Contact today to find out more.

July 28, 2016 - Phnom Penh, Cambodia Officials have announced that they will be introducing a new category of visa for foreign retirees in Cambodia which will be called “Category ER Visa”. According to the director of the General Department of Immigration, Major General Veasna, this ER Visa entails a minor change in requirements where foreign retirees will have to present documentation from their home country that will prove their financial stability and capacity to live overseas during the duration of their stay. It’s important to note that expatriate retirees already on the “Class E” or business visa will not be required to change their visa type or apply for a new one, but they will be given an option too. Retirees currently residing in Cambodia appear to have no objections to it as well. One retiree, 49-year-old Bruce from Queensland, Australia, currently residing near Wat Phnom, says that this ER Visa is a welcome change, however “most expats staying here will not switch to a retiree Visa unless they have no choice but to do so.” This is probably because business visas have been beneficial because of the lack of enforcement. Many retirees on a business visa have been able to stay for longer periods through a visa renewal every year without actually being employed or owning any business entity in Cambodia.Read more about Retirement Visa in Cambodia here with our comprehensive guideClick Here

The Cambodia Constructors Association (CCA) will soon go on a study tour to meet with the Building Construction Authority (BCA) of Singapore, to visit and learn more about the Building Information Modeling (BIM) on 7th to the 9th of September, 2016. Interested companies may register with the CCA secretariat no later than 20th of August 2016.Proposed Program Itinerary - 8 September 2016 (Thursday):If you or your company interested in joining this tour with the Cambodia Constructors Association (CCA), please contact us Mr. Vutha today on Tel: (855) 60 888 944 | 10 94 76 40 or Email: vuthatim01@gmail.com

Junior Chamber International (JCI) is one of the many active non-profit organizations in the world that has a Cambodian division.Officially recognized by the Cambodian government in 2012, JCI Cambodia has spearheaded several useful programs and collaborative projects in the hopes of creating a platform for professionals and students from different industries to engage in. JCI hopes that these projects will pave the way to a better and more stable economy, through education and dialogue. One such project is the upcoming event, JCI Entrepreneur Square.What is the JCI Entrepreneur Square?Alongside its business exhibition, JCI has also prepared a series of talks which will feature 7 distinguished speakers and experts from the areas of Food & Beverage, Real Estate, and Organic Agriculture products.Although speaking about different sectors, the discussion will center on one key topic, “Key Success and Investment Opportunity in Real Estate, Food & Beverage, and Organic Products in Cambodia”.In line with this, the organization and its various sponsors and partners hopes to showcase the multitude of opportunities Cambodia already has in its resources and utilize the time the speakers have to educate how current and potential investors can tap into those specific resources to develop a healthier business environment. It also aims to create an event that will allow its participants to network and exchange business ideas and experiences.Who are the Speakers?The event will have several key speakers, both in the morning and the afternoon, and will be moderated by equally distinguished people from the same industries.Moderators: Mr. Khorn Chhundara– CEO of KOI Café Cambodia Ms. Dek Dary – National VP of JCI Cambodia, Managing Partner at 360 Event Management HE Dr. Sok Siphana – Advisor of the Royal Government of CambodiaAgricultural sectors: Dr. Tan Monivann - VP of Mong Reththy Group Co., Ltd. Mr. Neak Tharen - Board of Directors of Cambodian Organic Agriculture Association and CEO of Natural GardenFood & Beverage: Mr. Kouch Sokly - President of Cambodia Restaurant Association Mr. Chang Bunleang - Operations Manager and Co-founder of Brown CoffeeReal Estate: Oknha Sear Rithy - Chairman of Worldbridge Land Co., Ltd in Cambodia Mr. Kim Heang - President of Cambodian Valuers and Estate Agents Association (CVEA) Mr. Kenn Yeo - General Manager of Orkide Villa Condominium (Mall & Condominium Project)What Will The Speakers Talk About? The presentations and panel discussions will touch on a few things. For the F&B industry, the speakers will talk about trends, sources, franchises, and methods in the industry that will help drive businesses to success. For the speakers from the agriculture and organic products industry, they will be presenting about geographical factors and characteristics of Cambodia and how it affects each sector. They will also talk about the current challenges and demands in the market. All of this will be done in the morning, while real estate speakers will do their presentations in the afternoon. They will discuss certain points on policies and development in the industry, along with triumphs and recommendations for investment. This event will surely bridge the gap between businesses and individuals hoping to break into these specific markets and start investing not only in their own future, but also the future of the country. There is a huge potential in Cambodia right now and it is important to understand how you can tap into that potential and get your payout once it grows.If you’re interested in going to the event, it will be held at the Sokha Phnom Penh Hotel & Residence on August 27th, 2016. The event will start at 8:00am and is expected to run until the late afternoon.For interested participants, you can contact Mr. Horm Chanreaksmey at +855 12 540 033 or his e-mail hchanreaksmey@gmail.com.For those who are interested in the sponsorship packages and in public relations, you can contact Mr. Soth Sothearak at +855 17 59 46 19 or you can e-mail him at sothearak2510@gmail.com as well.

Owing a significant part of its recent economic growth to international property investment, Cambodia has come into force as one of the leading emerging economies in Asia. Preferred by neighboring countries for its massive growth potential, it’s no surprise that infrastructure is being developed quickly due to the increase in demand for properties – most of which comes from Chinese investors. As confirmed by the Agence Kampuchea Presse, “Currently, China is the biggest foreign investor in Cambodia followed by South Korea, EU and Malaysia.” And the numbers continue to grow each year.When asked why Chinese property investment in Cambodia is such a hot ticket in recent years, current president of CVEA, Kim Heang, says that it has to do with a lot of things that mostly relate to diplomatic relations, convenience, and currency: The Diplomacy of Chinese Property Investment in Cambodia: He explains that China and Cambodia have long-standing diplomatic and military relations which transcends into business and investment dealings. China provided Cambodia a loan amounting to $12.4 million just after it erased the Kingdom’s debt in the recent past so that the government can start repairs on the Angkor Wat. In return, Chinese nationals are welcomed with open arms for any opportunity to collaborate or to invest in the vast lands of Cambodia.Special projects such as infrastructure developments are also awarded to Chinese companies because of the amount of trust that has been formed between the two countries. This diplomatic relations has also lead to a sea of people moving from China to Cambodia with no problem at all. Convenience and Chinese Property Investment in Cambodia: Heang says that it feels just like home for Chinese moving to Cambodia because there is a high value placed on Chinese people in Cambodia, more so that other countries. Locals are not only more accommodating, but a lot of them also speak the Chinese language.This makes it easier for Chinese people to transition into whichever area they choose to settle in, whether it’s in the busy streets of Phnom Penh or in scenic places like Sihanoukville and Siem Reap. Another factor that contributes to their interest is the convenience of flying in and out of Cambodia at any given time. The flight from both countries takes approximately two and a half hours, which is relatively fast if you have meetings in between the two countries.Businessmen also profit from this because they can easily address certain emergencies and issues as they come about. Currency and Chinese Property Investment in Cambodia: Chinese buyers are especially motivated by US$ investments, as it represents a very stable currency. This is obviously available in Cambodia. Also, Chinese investors love to pay in cash - and the Cambodian market is also very open to this.Taxes and extra costs are low in the Cambodian property market also, even when moving money in and out of the country. At the end of the day, along with the government’s continuing initiatives to create policies that will benefit local and international investors, Cambodia will see an even more profitable future for the property and land markets as Chinese investors continue to come to the Kingdom. Check out more on the Cambodian investment climate in our Cambodia Investor Guides! Search for real estate and property all over Cambodia on Realestate.com.kh NOW!

Cambodia, despite a turbulent modern history, is now respected as one of the most dynamic emerging markets in Southeast Asia. Along with this improvement in its economic stability, many expats who have families and children are also moving into properties in the country.Fortunately for them, the heightened sense of economic importance has also paved the way for the education sector to restructure and enforce new standards of quality. According to the World Bank’s census, the rate for net admission for primary school rose from 81 percent to 95.3 percent in 2014 in Cambodia. But higher education and universities in Cambodia aren’t so far behind in growth either, having thousands of people graduating each year from over 162 institutions.However, expatriates – just like in any other country – should still be careful to consider different factors before enrolling their children in any school. So, here are a few things you might want to consider first before choosing which place to send your kids.Location: There are plenty of international schools in Cambodia, but international schools in Cambodia are more focused on the Phnom Penh area because this is where a large concentration of expatriates are located. But there are also a couple of international schools in other parts of the country that you can take a look at if you’re establishing your temporary home outside the capital, such as the International School of Siem Reap and the Ecole Française de Sihanoukville. It’s important to choose the right school with an accessible location so that children will find it convenient to come to and from your home, given that Phnom Penh can experiences some serious congestion around peak travel times. It also helps in terms of attending school gatherings where parents are required to go.Future-proofing: It’s important to note that public schooling in Cambodia is not something that’s offered to expat students. This is why you’ll see most of expat children going to international schools. But before choosing International schools in Cambodia, you may have to carefully plan out the next few months or years of your life first. It would be helpful to know whether or not you’ll be staying for long and where you’ll be moving to in the near future, because different schools will offer varying curriculums. Some of them might not be accepted in other countries you plan on calling your next home. So, if your family is thinking of moving to Canada or a place with a similar educational system, the Canadian International School has adopted the Canadian K-9 Curriculum in English which is approved and regulated by the province of Alberta to make sure that the school maintains the quality that is consistent to the education given in Canada. Northbridge International School, iCAN British International School and the International School of Phnom Penh (ISPP) are some other Phnom Penh institutions that import international standards of teaching and offer universally accredited qualifications. By ensuring that your child undergoes a curriculum that is compatible with the next country you’ll be travelling to, you’ll make transitions much easier and you’ll also avoid getting into complications such as repeating grade levels. This is also applicable for expatriate secondary students who are thinking of attending universities around the world.Qualifications and Credentials: Some institutions will claim international status but will not have the resources and facilities to prove it. So, taking your time and asking officials from schools should be a vital part in your decision-making process. This way, you can see the facilities and safety standards and also interview them about the experience and background of their teachers. Because international schools in Cambodia are mostly home to children of different cultures, one thing you can look for is a school that has teachers with the necessary experience to lead a multicultural class. On top of checking the school’s physical infrastructure, do a bit of online research and see if the school’s been accredited by any international regulating bodies. An example would be the Northbridge International School which has the Western Association of Schools and Colleges international accreditation.Skills Training: The iCAN British International School is one of the more popular international schools in Cambodia as well because it offers something that’s also essential for children’s growth. More than the academic aspect, they also focus on integrating skills development through their Early Years and Foundation Stage program where students are able to enhance their skills inside and outside their classrooms. Expatriates will find this as an attractive quality because it offers their children something to do while they’re in another country. At this point, they not only develop skills but also friends that will have the same interests as them. Cost: Cost is a vague topic with international schools in Cambodia as tuition fees for different institutions differ widely. Application fees, enrollment fees and capital fees may also vary. These can be attributed to many factors such as facilities, curriculum, miscellaneous charges, quality of education and the competence of its staff. There are schools out there such as Footprints International School which offers great quality but inexpensive schooling for expatriate students up until the 10th grade but may have a different curriculum than what your children may need. So, while institutions that charge more may give you the best education and curriculum, it is important to note that there are inexpensive alternatives that you can consider as well. However, for universally accredited schools you can expect yearly tuition fees anywhere from $5000 per year, up to $30,000.Requirements and Inclusions: In terms of cost, it’s also important to check out what you get in return for the tuition you pay. Some schools offer just the facilities but not resources like textbooks, while others may offer resources but not facilities such as a computer laboratory. A good example would be the International School of Phnom Penh (ISPP) which has a “Bring Your Own MacBook” policy which requires students in the 6th to 11th grade to have their own MacBook. Since “ISPP is a non-profit parent-owned association and relies almost completely on fee income to assure sufficient resources for the school's operation,” there are certain expenses that parents would have to shoulder. These are just a few basic things you need to look at during your decision-making process, but there are other things you can add to the mix to help you narrow the list down even further. Take your time, and make sure you choose the best school for your children’s needs.Learn more about living in Phnom Penh trhough Realestate.com.kh now!

With the rate of condominium market demand and supply fluctuating in Cambodia, it is possible that 2016 will force real estate professionals to focus on a few issues that need to be addressed for the condominium market to be sustainable into the future. Particularly, there is an increasing need to develop new strategies to combat the decreasing demand for condominium units. This is according to Chrek Soknim, Century 21 Mekong ceo, during his presentation for Century21 Cambodia’s Condominium Market Report H1 2016 report.As Official Property Portal Partner of Century21 Cambodia, the Realestate.com.khTV team was there to catch the news as it happened.Political Hindrance There have been many laws that have been drafted and approved throughout the years to assist in the growth of the real estate sector, especially in terms of the condominium market. But when there is any signs of insecurity in the market or political sphere in Cambodia, foreign investors are put off and look to more established and less vulnerable markets with their investment. Soknim says that minor political disputes in 2016 are making foreign investors nervous when considering Cambodia.But Soknim states that this may be more of a national image issue than it is an actual reality of Cambodia in 2016. He explains, “even though the political situation in Cambodia looks stable and nothing changes, the confidence and sentiment of buyers has decreased in some respects. This may seem like a small issue to some people, but foreign investment in the industry makes up about 70 percent of the condominium market.”  OversupplyDue to projections pointing towards an increase in demand during the early months of 2016, many developers took the opportunity to apply to build new projects, especially in the condominium market. Unfortunately, this led to more new construction that the market may have anticipated. Soknim said, “Supply has increased dramatically this year —especially in January, February and March of 2016—with new projects being launched almost every day.”Century21’s Condominium market report indicates that 13,730 more units are expected to come up in the next few months of 2016.However, Seraj Sutton from Century21 Cambodia, at the same event, stated that he hopes to resolve increased supply by communicating with foreign investors by means of a “Global Strategy Business Development” tour, which will allow Century21 Cambodia to move from one country to another and keep investors informed about the opportunities in Cambodian real estate.Overseas DependencyA slowing down of the economies of neighboring countries such as China is also contributing to the amount of demand the Cambodia condominium market is receiving. Soknim clarifies that even if Cambodia still has lower rental and sales prices across the market, Cambodia has to lessen its dependence on overseas money. Cambodia is a dollar-dominant market and this may cause issues as well in the future.Despite some indications of an oversupply, Soknim and the rest of the Century21 Cambodia team believes that with a cautious mindset, and proactive investment policies, there is still much success to come in the Cambodian condominium market.Find thousands of condo listings on realestate.com.kh

Cambodia’s economy has been growing from within its borders throughout recent years. And while it’s not really a bad thing, leading industry players such as Century21 Cambodia have come into agreement that the real estate sector is growing so much that there comes an opportunity to open it up to increased investments for both locals and foreign nationals. This is the sentiment echoed by Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia, during his speech for the launch of the Condominium Market Report H1 2016 held at Raffles Hotel Le Royal, Phnom Penh.Global  VisionSutton explains that as part of their aim to do business more efficiently, a global vision is essential for Century21 Cambodia to be able to move forward with their initiatives to streamline a broader business platform in the real estate and property market. This vision will be the driving force that will motivate them to come up with new and innovative ways to create an environment conducive for global business transactions and collaborations.Global InitiativeAs part of this move towards a more inclusive and collaborative industry, Century21 has set up a "Global Strategy Business Development”  team which has also launched a worldwide tour series to spread awareness about the real progressive situation in Cambodia and, more specifically, Cambodian real estate. It will be headed by Sutton, along with Mr Kuy Vat and Mr SamAth Him Sprung who are the Chairman and Director of Global Strategic Business Development at Century21 Cambodia, respectively.Sutton says, “The main focus is strategically thinking globally. This means proactively promoting Cambodian investment opportunities to the global market."He continues, “So, proactively, we’ll promote the projects in Cambodia to the investors overseas, by means of travelling, building relationships, networking and promoting, promoting and promoting.""Because we believe the Cambodia property market has the best offering ever, in the region but also worldwide. So, no country in the world can beat the investment opportunities in Cambodia.” But he also notes that a lot of the populations of investors around the world are looking to diversify their portfolio. And this is where their tour will take a turn for the better as they present and propose a two-way traffic structure, whereby Cambodia property investors can invest in overseas projects and foreign investors can also invest in other overseas projects from countries like Cambodia. Sutton called it a “complete global vision and strategy.”Global  SupportIn terms of international cooperation, Century21 Cambodia is aiming to leverage partnerships in countries like China, Hong Kong, Macau, Taiwan, Malaysia, Indonesia, Vietnam, Singapore, Japan, Korea, Thailand, France, Australia, Canada, and USA.Sutton adds that France and Australia have shown great potential thus far as these countries have large populations of Cambodian expats and immigrants. He says, “Why France? Big Cambodian community is in France. Some of them – Cambodian-French – eventually like to retire back in their home country, Cambodia.” In 2011 alone, there was an estimated 80,000 Cambodian nationals who lived in France. He further elaborates, “Then we thought, if we can go to France, why not Australia? A lot of Cambodian communities live in Australia.”This is indeed an exciting time for Cambodia as firms like Century21 Cambodia continue to look for ways to modernize and stabilize the growth in the Cambodia property industry. And as plans begin to materialize, we can only hope to see rapid and ongoing growth in the Cambodia property market as a result.

If you have the money and you’re looking for affordable residential property to move in to, you have to make sure to get a property that suits your needs.Realestate.com.kh spoke with Mr Van Chanthorn of TownCity Real Estate about the best ways to invest your money in Cambodian real estate.If we have enough money, what type of property should we buy?If you have just enough money to begin investing in real estate and you’re looking for a monthly income return, then you should purchase one to two condominium units or a flat or apartment inside central city for leasing. It’s much more convenient to rent and could be a stable source of income of up to around $1,500 every month.For those looking to purchase properties for both investment and residential use, consider buying a Borey property in the city. Aside from having a strategic location, there’s also more opportunity for sale and rent in the short-term. However, the profit here is limited and there aren’t really any huge returns to be made any more.But for investors that already have a significant capital for real estate investments, they can opt to get a pre-established-facility or landed commercial area/development plot that would cost around $2 million to $5 million. This will produce a profit through increased rental costs and easy leasing terms, or a profitable sale to the right developer.For investors who have an overflow of money that are looking to buy for future investment returns through a property sale, a projected profitable areas of investment that most people are taking for granted are on the outskirts of Phnom Penh. The reason for this is because there will be a lot of new long period developments just outside the city that will give you a significant investment return after 5 to 6 years.TAKE A LOOK AT TOWNCITY’S PROPERTY LISTINGS RIGHT NOW ON REALESTATE.COM.KHWhat is your ideas or expectations of the future of the real estate realm in Cambodia?For me, there are a lot of current developments being done and already available in the north, the west, and the southeast directions. If we are looking to the southeast direction, we see that there are many borey project developments like the Borey Peng Huoth and Borey High Tech.In the eastern part of the city, areas along the national road 6 such as the Chroy Changvar peninsula are expected to have plenty of condominiums, boreys and residential projects in the long run.   Meanwhile, the northern areas have been in development or quite some time now. So, both big and small borey projects are already in place, especially in the satellite cities of Camko and Grand Phnom Penh International City. These development projects have been successful because there of good infrastructure, higher density of people and growing commercial areas. They’re also particularly successful because there are many roads connecting to the other provinces like Sihanoukville and the Kampot province.We tend to forget the east direction, but it’s also now under serious observation as a future development site. Also, for the future, the south part of Phnom Penh will also be the best target direction for investment. Based on my vast experience, land prices are higher and rapidly increasing because of the development goal of the government in the south of the city and the investments of expats here. And because of this, road infrastructures are becoming more and more possible in the south. Nowadays, the real estate market values in those areas are offered at an affordable price. Therefore, all investors should be in a hurry to invest now! These prices won't last long.TAKE A LOOK AT TOWNCITY’S PROPERTY LISTINGS RIGHT NOW ON REALESTATE.COM.KH