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 Province of Preah Sihanouk (aka Sihanoukville) is one of the three major economic poles in Cambodia. Sihanoukville is recognized for its numerous valuable resources, including offshore oil reserves, and its strong economic development in the commercial, industrial and agricultural sectors. It is also showing huge potential as a coastal tourism destination: According to Chhit Sengnguon, vice governor of Sihanouk province, there were over 1.3 million tourists who visited Sihanoukville during 2016’s first five months, an increase of around 16 percent compared to 2015. Read full article: “Sihanoukville Property Development Rising Alongside Tourism Boom” According to a recent BayonTV report, in the presentation of the new investment project to the provincial government on 25th July, Mr. Christoph Forsinetti, CEO of KC JSM Services Ltd. said that, “Having seen the potential tourism market in Sihanoukville, the international investment company, KC JSM Services Ltd, has decided to invest in a multi-development project resort along the beach of SES SAR (known in english as White Horse Beach), nearby the Sihanoukville Autonomous Port. And the project will start construction in October of this year.” According to IBC Cambodia, KC JSM Services is a property development company focusing on property development at all stages, from concept design and master planning to property management. Since 2012, the company has worked closely with the Royal Government of Cambodia in relation to policy for the development of the coastal areas of Cambodia, in accordance with the “Industrial Development Policy 2015 – 2025”. “This multi-development project is located in village 3, sangkat 3, of Sihanoukville City; and the new development will occupy almost 60,000 square meters of land area, with a total investment cost of around 119 million dollars,” Forsinetti confirmed. He stated that his company has spent 4 years accessing the environment impact and other potential problems of the planned project before confirming their investment in Sihanoukville, and has provided suitable solutions for all circumstances moving forward. In total, the development will require approximately 2 years to complete all necessary infrastructure. KC JSM Services will offer not only tourism services, says Forsinetti, but also employment opportunities for around 3000 local workers, paying a minimum salary of $200 per month. In regards to this new investment in Sihanoukville, Mr. Van Chanthorn, the CEO TownCity Real Estate, said that there are many big projects underway in Sihanoukville currently, such as the Camhomes project, D’Seaview, and maybe a new airport project underway soon. “This ongoing investment in Sihanoukville will naturally bring more people to live there,” says Chanthorn, “and the price of real estate will also increase in the coming years.” He added that, “This new project, white horse resort, is a very good investment in Sihanoukville because it will bring multiple benefits; One benefit is a direct advantage and another is an indirect advantage.” He explains that this new tourism venture will provide direct benefits to the people of Sihanoukville province in terms of employment and income opportunities. Meanwhile, its will benefit the province indirectly, as the flow-on-effect shall be more investment in Sihanoukville as the tourism industry continues to increase. Chanthorn says, “More visitors are coming to visit Sihanoukville to stay at resorts like this, and these visitors may also consider investment in Sihanoukville real estate in the future.” But Mr. Den Sakal, CEO of Universal Real Estate, a realtor based in the province, stated that this is a very high-end project, and hence it will not benefit the local people because of the very high price of admission. “The purpose of this project is for high-class families and foreigners only,” says Sakal. “The announcements of projects like this focus on the positive benefits of investment in Sihanoukville and dreamy ideals; but the reality in Sihanoukville does not equate to these grand proclamations. Some major development projects in Sihanoukville have become ghost town’s already, and there is a risk that others will too.”   Sakal added that, “in 2015 there was huge investment in Sihanoukville in terms of condo projects, villas and hotels. And at this time, there was still a large demand in the market. However, while investment continues in 2016, many projects now remain empty because of an oversupply in the market after the 2015 boom, and now there is low demand amid buyers.” Despite his pessimism regarding demand for very high-end projects such as the White Horse Beach development, Den mentions that the demand in the real estate market in Sihanoukville does seem to be picking up again generally in the second half of 2016. Images sourced from: www.thekingstrip.com Learn more about Sihanoukville as a real estate destination, and other great insights in our comprehensive investor guides NOW!

There are many locations in Cambodia that are fairly attractive for both expats and locals. And one of the most attractive areas people are eyeing these days is Toul Kork, especially since land prices in BKK have skyrocketed in recent years.In an exclusive interview with Realestate.com.kh, CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee, Alex Evengroen answers questions about why Toul Kork is becoming an increasingly popular area and why it deserves all the attention it’s getting right now, and more.Toul Kork Character:Toul Kork is a place that’s vibrant with life and its own unique spirit. And according to Evengroen, it’s also brimming with youthful energy which is a complement to the many activities you can do there - such as watching dance performances in the nearby Apsara Arts Association center, or “bicycling or walking around, or having barbecues outside without getting run over by trucks and cars.”This means that it’s also a safe place to live, just a few minutes away from the hustle and bustle of the big city. And much of the area is still owned and resided-in by locals, so Toul Kork does offer a mix of modern and traditional cultures.But it will soon also cater to more expats during its expansion process, with all types of international franchise brands entering the retail space, and a new generation of condos for sale under construction and more and more serviced apartments for rent coming online.Anthony Perkins, director of special projects, finance & investments at the Royal Group of Companies, says that, “If you have a family and are not particularly concerned about your travel distance to work, Toul Kork should definitely be considered as a prime place to find a home for rent or sale.”Investment Opportunity:Speaking of expansion, Toul Kork is also a growing area full of opportunities for investment and construction. Evengroen says that there are already ongoing projects and new developments that are expected to come into completion in the next few months to the next few years. This will make land and properties more attractive for investment, as these new projects will attract all kinds of new residents and retail options to the area.He continues to say that most of the ongoing construction projects in Toul Kork are for commercial properties. He also predicts that even with the large supply of shop houses, villas and condos being built right now, detached and semi-detached properties will become even more popular in Toul Kork.Evengroen adds that if you have the money and you can invest, it would be wise to invest now while land prices are competitive and the government is stable. In a few more years, you can resell the properties in Toul Kork and make significant profit.Traffic:One concern potential investors and buyers are particularly wary of in Phnom Penh generally is the traffic situation. Be careful to consider the current developments’ eventual effect on traffic.Evengroen brushes this off, however, and says that the traffic situation is already something that’s been anticipated in Khan Toul Kork. This is why wider roads have been built in Toul Kork, to proactively address the large volumes of vehicles that will occupy the streets once developments and construction in the area reaches its peak.Services & Accessibility:Another factor that makes Khan Toul Kork appealing is the convenience of being near international standard malls, shops, and service centers.Restaurants and fast food places like Burger King, Pizza Company and various cafe chains are everywhere these days. There are also nearby schools and hospitals for families, such as the Toul Kork Health Center and the Zaman International Primary School. It has everything you may ever need to survive and live a comfortable life in central Phnom Penh.There are many more things that make living in Toul Kork desirable. But words can only do so much. Evengroen suggests taking a ride around the area on a peaceful Saturday afternoon to see its beauty up close - and to grasp the fullness of the area’s life.Check out more insider tips and tricks on Realestate.com.khTV today!

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.

Realestate.com.kh caught up with Andre de Jong, Managing director of Bosch in Cambodia and Chairman of the Real Estate and Construction Committee of the EuroCham Cambodia, to find out what the European chamber of commerce in Cambodia is currently doing to assist the progress of the real estate and construction industry.In this interview, we find out more about the initiatives being pursued to develop Cambodia’s green building sector.Tell me more about Eurocham's green building focus? Why is this directive so important in a nation such as Cambodia?Green building is currently still under the Green Business Committee which is one of the other working groups of the EuroCham. However, the RECC has recently started to work more closely with the Green Business Committee on this topic. We have two members from the Green Business Committee who are actively joining us.Green building has become an important topic for many countries. In Cambodia, although the concept is still new, there has been a growing interest among not only foreign investors but also local developers to ‘go green’.Recently, there is a worldwide rollout of a new green building certification called the EDGE which is available for free in 125 markets including Cambodia. The concept would be even more receptive and attractive if the government granted tax benefits to developers who adopt the green building processes.The green building concept is becoming more relevant and essential globally. We have witnessed the impact of the climate change over the last decades with the recent years becoming more significant especially in Cambodia where there was a dramatic increase in average temperature, a longer dry season and more rainfall during the wet season. It is important to focus on regenerative solution for the green building that includes green architecture, energy-efficient solutions, and smart technologies that save energy. Smart technologies will play an important role in this development.With the upcoming rise of the Internet of Things, especially in the Asia Pacific, we expect to see more adoption of IoT solutions in the green building process. Learn more about Eurocham’s Real Estate and Construction Committee (RECC) now!Learn more about the real estate and construction industries in our comprehensive Cambodia investor guides!

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!

Many people work a long time in order to save up for their future, but when they finally get the money to invest in something, they’re uncertain where and how to utilize their financial resources.This is especially true when they finally decide to invest in the real estate or property where even professional investors run into issues all of the time. Properties and land in Cambodia can be confusing and has the potential to take your money without a return if you’re not sure what you’re doing. This is something that Alex Evengroen backs up. Evengroen is the CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee.Evengroen says that “if you just buy random land, it will most likely backfire. Educate yourself and ask around before you invest!” There are plenty of resources and information available which you can use, like real estate portals, agency reports and government statistics. If you’re not sure how to interpret the data you find, then you can get a real estate agent or agency to look at the properties for you so that they can give you an honest evaluation.If you are looking for credible and competent agents, there are plenty of agents that are also registered with the Ministry of Economics and Finance through the CVEA.I have $100,000 free for investment in property… What should i do? When asked where investors can spend $100,000, Evergroen states that it will be wise for people to buy land because "land is going up, always." It’s a good opportunity to increase your investment quickly and get a return. And since the real estate industry is still rapidly growing with new policies being implemented by the government, now may be the best time to invest in it.He adds that there are also still a lot of rural areas that are left unnoticed due to developments being concentrated in key areas like Phnom Penh. So, once land resources are exhausted, you have the ability to increase and dictate the price of land either for resale or rent. But before buying land, it is encouraged to do much research on trends and to crosscheck pieces of information you receive.Evengroen also offers that if people were to invest in an already completed property, lower end condominiums would best suit the given investment amount since these types of properties only cost $40,000 to $100,000. These will soon be popular for middle class Cambodians and will be released into the market in the next 18 months. This will spell an easy profit of up to around $25,000 after completion.Evergroen further explains that "Cambodian people, they love it when something is finished and it's touchable." So, whether you’re looking for investments you can sell again or have someone rent out, lower end condominiums are great properties to invest on. It’s very difficult to earn $100,000 and it is very easy to lose it if you invest without caution. So, before placing your money on properties, be sure to always know what you’re getting yourself into.Learn more about Investing in Cambodia now, on Realestate.com.kh

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

Many investors, international and local, are purchasing condominiums in Cambodia, pre-sale, under construction/off plan, direct from the developer. When they do so, they enter into a sales and purchase agreement with the development company. Upon signing this SPA agreement, the condo is purchased and both parties must fulfill their full obligations in terms of payment and delivery of the finished condo unit.  However, there is some current confusion regarding whether or not a Cambodian Lawyer or Notary must also sign as witness to such agreements.This confusion exists because commonly these sales and purchase agreements only stipulate that there is a co-signing “witness.” “Party A” and “Party B” have signed being “Buyer” and “Seller”, and there is also a place for a “witness”. Hence the question begs: Is it a requirement by Cambodian law to have a lawyer or notary to sign in this witness section?And, if it is not a requirement to have a qualified witness, is it still safer to have a lawyer or notary sign instead of a civilian?The answer to this is as follows:The Law on the Implementation of the Civil Code sets out certain requirements for the execution of real estate contracts:Pursuant to Article 9, in conjunction with Article 336(2) of the Civil Code, a contract that transfers ownership over immovable property only comes into effect when such contract is made by a “notarial document”. Article 9 of the Law on the Implementation of the Civil Code clarifies that a notarial document is either:1) Made by a notary, or; 2) A privately-produced document authenticated by a notary, and dated and signed by the notary after the authentication; or; 3) A document made by a competent officer for registration process. As there are a relatively small number of official notaries in Cambodia (only around 20), in practice, Cambodian lawyers often serve as witnesses to real estate agreements. One more thing to remember is that under the above laws, there is some uncertainty still as to whether the actual land sale and purchase agreement must be notarized or whether the notarization requirement would only apply to the Vente Definitive land transfer form (which is the official land transfer form signed by the seller and buyer, and which can be made by a competent officer at the land office).So, in short, to be safe - make sure you have a registered Cambodian lawyer or notary present when you sign you sales and purchase agreement, and have them sign at the witness.By signing without this authorized witness, your SPA agreement could be considered void at the later date. Please seek legal advice when undertaking real estate and property transactions in Cambodia, and use their experience to your advantage. If you need to be put in touch with an experienced Cambodian lawyer - contact us today!Learn more about investing in Cambodia in our authoritative investor guides.

Realestate.com.kh caught up with Mr George Kachmazov, founder and managing partner of Tranio.com, an online overseas property start-up. Kachmazov is a respected real estate and investment expert, as well as a keynote speaker at many national and international property conferences, and regularly contributes to print and online media with insight on real estate trends and advice for first-time investors. We know there is a large population of Russians in Cambodia. Are Russian's interested in the Cambodian property market now? If not yet, what might be attractive about Cambodia for property investment for Russian buyers? It’s true that there are many Russians who spend winter seasons in Southern Asian countries, including Cambodia, Thailand and Vietnam. Many of them rent out their Russian apartments and rent homes in Asia. We have had enquiries for apartments and townhouses in Sihanoukville in 2013–2014, but demand on Cambodian real estate is very low compared to other countries.There are several things that might be attractive about Cambodian property: low taxes, low prices, relaxed lifestyle, friendly people, new experiences. There are Russians who see drawbacks, though: lower market transparency (compared to Europe) and Cambodian property ownership restrictions for foreigners (they are not allowed to own land).What other ASEAN regional countries are attracting attention from Russians? We see interest in Thailand and Vietnam. In the whole, ASEAN countries are more popular among far-eastern residents of Russia because of the distances. For example, our research shows that people from the Vladivostok region (east of Russia) are three times more interested in Thai property than Muscovites who prefer to buy property and spend holidays mainly in Europe because it’s closer. How can a Cambodian property seller make their property more attractive to potential Russian buyers? what features are they particularly interested in? what terms of sale etc?Be trustworthy and convincing. Russians are often skeptical and ask for substantial facts and proofs. They tend to be in doubt: “Why should I work with this seller? Should I purchase this property or wait until I find something better?” This often results in prolonged or delayed transactions. Also a Cambodian property seller needs to be open and transparent, because Russians are afraid of scams. If you sell residential property for buyer’s own use, sell lifestyle and emphasise aspirational features of a property and location. Unlike many Westerners, Russian buyers tend to buy more on emotion and less on price. As for features, Russian lifestyle buyers prefer houses and apartments in a close proximity to beaches, and sea view may be demanded. Do support and advice at all stages.   What are the most popular locations for Russian investing overseas?Judging by the number of enquiries on Tranio.com in Q1 2016, the most popular countries are Spain, Germany, Italy, Montenegro, Czech Republic, Finland, Austria, Hungary, France and Slovenia. Spain has maintained absolute leadership during the last several years, and buyers stay attracted by relatively cheap property (prices dropped by 40% in seven years), sea and warm climate. Germany, strongly placed as number two, is preferred by those of our clients who want to invest in rental real estate, diversify investment and protect capital from Russian risks. What type of properties are they Russians usually seeking abroad? A big proportion of clients buy apartments by the sea for their own use – either to spend holidays overseas or to move permanently. This kind of buyers are active in Spain, Italy, Montenegro, France and Turkey. Since 2014, we are working closely with clients who want to invest in real estate rather than spend money on holiday villas and flats. This kind of buyers tend to purchase residential property to rent it out (according to our research conducted in 2015, 63% of respondents in commercial property market choose rental apartments). Mini-hotels are also popular (21% of respondents), as well as rental blocks of flats (16%).What are some facts and figures on total outward investment in property by Russians?Investment into overseas property was gaining in popularity since early 2000s. 2012–2013 showed a considerable increase in the number of Russian-speaking clients. In many countries, including Spain, Bulgaria, Latvia, Turkey and Montenegro, Russians took leading positions in the residential property market. But after 2014, when the ruble had plummeted, investment volumes decreased dramatically. In 2012–2013 Russians invested in property overseas more than 400 thousand dollars every three months, and in 2014–2015 about half as much. According to the Russian Central Bank the volume of transfers was down 30% year-on-year, checking in at just 199 million dollars, compared to 281 million dollars in Q1 2015 and 484 million in Q1 2014.Not only is the investment volume is shrinking, but so are buyer budgets. On the other hand, we have noticed a growing demand on investment property, particularly in terms of income-generating buy-to-let residential and commercial premises. Also our clients become more and more interested in development projects.What are the key motivating factors for outward real estate investment for Russian buyers?Five-six years ago, Russians were motivated by a “superplus” of money, they had enough liquidity to invest into seaside resort villas and enjoy European lifestyle. Between early 2014 and May 2016, the US dollar rose against the Russian ruble by over 80%. So, property overseas became much more expensive for people who earn income in rubles. The main motivations for Russian buyers now are extremely low mortgage rates in Europe and opportunities to invest money into safe, low-risk markets. Why is online marketing so important for international property buyers?According to National Association of Realtors of the US, three quarters of buyers start searching for property by looking at Internet listings. Word of mouth simply isn’t enough, every real estate company has a website, and it’s essential to promote it and raise its visibility in search engines so that potential buyers would be able to find it among thousands of other sites. Since 2014, we’re promoting the English version of our website, Tranio.com. Today at least 5% of our audience are clients from Europe, Asia, America and the Middle East, and their share is constantly growing.Tell us more about Tranio: Tranio is an international real estate broker. We help our clients buy and rent property directly from foreign agencies and developers without extra charges and unnecessary intermediaries. We are not just a real estate website because we provide support and advice at all stages of selecting and buying a property, and we are not a traditional real estate agency either, because we have about 500 partners all around the world, and we do not favour any particular agency or developer at the expense of the others. Also we publish news and reports on property overseas and give an expert advice. In 2013–2016, we closed 500 deals. How long has Tranio been around? What inspired it? We’ve been on the market for six years. After my family had bought a second home in Croatia in 2010, I had an idea to create a real estate business. I saw potential in this segment, as there were many clients, a lot of interesting products, and low competition in Russia compared to the vast market capacity. We started to design and develop the website in 2010, and launched the full working version in March 2011. At first, we planned to monetize the website the same way most real estate sites do — by selling advertising and paid listings. But very soon we disliked the idea because abundant advertising always makes a website less user-friendly and lowers its quality. In 2012, we changed the mode of monetization and became a mix of Internet portal and real estate agency. We were selling second homes by the sea and helping people spend their money on lifestyle. In 2014, we launched the English version of our website, started working with international clients and sell buy-to-let commercial property. The change in business strategy helped us not only survive the crisis but also rise sales volumes despite decreasing demand on real estate overseas. As the crisis hit the Russian market in 2014–2015, we changed our strategy once more. We saw investors rising their yield expectations as yields were falling gradually in every European country due to high demand and relatively low construction volumes. We understood that the only way to earn money in today’s market is to invest it into projects of added value, namely into redevelopment and renovation projects, and we started to offer them in 2016. Our next goal is to create our own redevelopment project. We are planning to find investors, purchase a multifamily building in Spain, renovate it, create micro-apartments and sell them to end users who will either use units themselves or rent them out. At the same time, we will go on expanding the share of international property buyers in order to protect our business from Russian risks. Some other articles George has recently contributed to: Five reasons why guaranteed high yields don’t exist ; Russian crisis breeds a mature generation of property investors ; How property plays a role in balanced pension investments ; Buy-to-let investments in Germany are a boon for small budgets ; Risks: macro and micro pitfalls in property investment strategies ; Overseas Investors: Tricks To Financing Your Property Investment In Europe

CBRE Cambodia’s recently released report outlines the details of the changes that Phnom Penh experienced throughout the 1st quarter of 2016. The report includes data and analysis gathered from the increasing activity in the land, condominium, office, retail, and serviced apartment markets.Phnom Penh Land Q1 2016Despite a bleak outlook on land prices which is expected to decrease by the end of the year, the land price index has shown a significant increase during the first part of the year all throughout principal districts. Land prices have gone up by an average of 4.8 percent during this time as well. The report also notes that prices in areas like the 7 Makara and the Chroy Changvar districts saw a quarter on quarter increase of up to around 8.3 percent to 8.8 percent. This may or may not be a good thing, depending on which part of the transaction you’re on. This is good for current investors who saw a high return of investment. But this may be an opportunity for future investors to shift their focus to the outskirts of the capital city.Phnom Penh Condominium Q1 2016According to the report, there were 8 projects that were announced at the beginning of this year which ushered in a total of 4,158 additional condo units. This is a staggering 61.6 percent year on year increase. As a result, the average sales prices for condo units across all unit types went up by 4.1 percent.Off-plan prices for high-end units, on the other hand, grew a steady 5.7 percent where Chamkarmon took the lead and contributed 2,900 units or 70 percent of the off-plan condominium sales.Based on the figures as well, a number of newer high-end and middle class condominium unit supply will be from international developers, where China and Taiwan are the frontrunners.Phnom Penh Office Q1 2016While the condominium market saw much of an improvement this past 1st quarter, the office market hit quite a few roadblocks. This caused occupancy rates to diminish by 1.5 percent, despite the construction of 3 new office buildings with a leasable space of 17,260 sqm.But it wasn’t all bad as both Grade B and Grade C office rents rose up to 1.3 percent and 2.6 percent, respectively. In addition to this, the quoted rental prices for Grade A office properties remained stable at $28 per square meter.Taking all these into consideration, as it stands now, the total officespace occupancy rate in Phnom Penh is at  74.4 percent.It’s not all doom and gloom for the office market though as 5 office projects will be available for investors in the near future through the use of strata titles or long-term leases.Construction for these projects started during the early months of 2016 wherein each development had launched off-plan sales during 2015.They’re expected to contribute a net space that’s estimated around 84,000 sqm by 2019. The average asking price stands at an average of $3,475 per square meter where Grade B spaces will take a projected 64 percent of the future office space supply.Phnom Penh Retail Q1 2016While there were a series of activities that showed activity in different real estate markets, retail showed little to none.It remained relatively stable during the 1st quarter but is expected to change in the months to come. One important event to note though is that the Sorya Shopping Center announced a renovation and rebranding project that will relaunch it as the “Sorya Center Point”.Starting off a bit slow this year, the retail supply in Phnom Penh is expected to pick up and grow significantly before 2018 ends. This will be the effect of “a combination of new international shopping complexes and significant retail components within predominantly residential and mixed-used schemes.”One of these is the Parkson Phnom Penh City Center which is set to launch any time during the 4th quarter of 2016.The Parkson Phnom Penh. City Center will have 57,000 sqm of leasable space, alongside Hong Kong Land’s Exchange Square which will have a total of 8,000 sqm of leasable retail space before the 2st quarter of 2017 end.Rents, on the other hand, remained consistent all throughout the 1st quarter, except with rents from purpose built retail malls. This saw a fall amounting to 1.6 percent. Unlike the retail supply, this trend is set to continue as requirement reviews are being done by retailers in terms of pending developments that are set to be delivered within the next 12 months.This will most likely be affected by international brands seeking prime retail locations for different uses. Among the top uses is the Financial and Professional Services which occupies around 9.2 percent of prime mall space and 33.2 percent of prime high-street. Food and beverage doesn’t fall behind which accounts for 14.2 percent of high-street retail spaces and 25 percent of retail malls.The report states that “2016 is set to welcome a wave of new international brands, with active requirements for both prime shopping mall and high-street locations driven principally by Food and Beverage/ Fashion and Accessories retailers.”Phnom Penh Serviced Apartment Q1 2016In contrast to the other markets, it seems as though service apartments had been luckier with an increase in supply that spurred by around 5.6 percent in the first quarter alone.According to the report, a huge factor for this is because of the Grade C serviced apartments coming up to 4,645 units with a recent addition of 246 similar projects. This may be the reason why it is the most prominent Grade type in Cambodia, making up a rough estimate of 71.6 percent of all units, in contrast to Grade A and B serviced apartments that only account for 19.9 percent and 8.5 percent of the units, respectively.This is probably why prime serviced apartment rents remained stable during the 1st quarter where rental rates ranged from $500 per month for a one-bedroom Grade B apartment to $8,000 per month for one of the higher end penthouse units. This is not far from prices during previous months and quarters.This stability also contributes 85.6 percent of the occupancy rate where the majority of the capital’s current serviced apartment supply is located.The report aims to provide insight for investors and developers in order to gauge whether or not to proceed with their potential or ongoing transactions. In the end, it is important to look at this data to form informed decisions and make calculated risks.Check out all listings from CBRE

Sukhalay Hotel on Achar Mean Avenue (now Monivong Boulevard)Amazing Cambodia gather vintage photos of historic buildings across Cambodia and feats of construction that have marked the Kingdom's architectural evolution. The mission of Amazing Cambodia is collecting Cambodian historical images, music,films and other things of cultural importance, and sharing them to everyone domestically and internationally. The purpose in guiding people, especially the young generation, to see and to know how amazing their country was in the past as well as to be proud of being a Cambodian citizen. It is also assisting local people to recall momentous memories about past events, raising foreigners' awareness about Cambodian culture and history and promoting Cambodia's reputation and popularity nationally and internationally. The founder of Amazing Cambodia, Mr. Srin Sokmean, spoke with Realestate.com.kh about his life and his inspiration for Amazing Cambodia.Tell us about your career so far:I have been working as a reporter and editor for a local magazine since I was a senior at IFL. Now I am also working as an English language full-time teacher for a private school in Phnom Penh. On the other hand, I have been an organizer of some cultural events including Amazing Cambodia Photo Exhibition 2013 and the Night of Hope charity concert 2015.What inspired you to start your photo archives?Inspired by my lifelong great passion of local culture and arts, I have been investing most of my free time in doing constant researches on Cambodian past music, films as well as architecture. The 1960s, known as the golden age of Cambodian culture, is my most favorite topic. As I had collected a large number of vintage images, I decided to create a Facebook page named Amazing Cambodia with the initial technical assistance of one of my Facebook friends. The three biggest purposes of the page are to raise Cambodian young generation’s awareness of the country’s glorious past, to review the past memories for the surviving local oldsters, especially those who have been away from the homeland for decades, and last but not least is to promote Khmer culture and history to the world.What your inspiration do this job?Everything is because I do love it from the bottom of my heart - though, I have to sacrifice a lot of money and time. Even without much support, I never give up since I have learned a lot during the process of the research. For example, I know how to improve communication skills with people in that field.My personal inspiring quote is “Don’t give up just because you walk in the right way alone - Appreciate your incomparable talent.”What is your view on Cambodia architecture these days?

A $150 million agreement between the Cambodian and Chinese Governments will see the construction of a huge sports stadium complex - suitable for Cambodia to host the Southeast Asia Games (SEA Games) in 2023.First approved in 2013, the “Morodok Decho Sports Complex” first stage of construction is already around 70 percent complete and is being developed by the LYP Group for around $39 million, according to an RFA report.The “Morodok Decho Sports Complex” is being built on 85 hectares of land in Prek Ta Sek commune, Russey Keo district, inside of LYP Group’s “Garden City” satellite city.The second phase of the sports stadium project is expected to begin construction in 2017 under the management of a Chinese company, with an approximate $150 million funding package provided by Beijing.   Meanwhile, a huge world-class TV antenna, with a total height of 285 meters, will be completed before the year 2023 as well, near Morodok Decho  stadium. To be called "TV Tower", the massive antenna will become the broadcasting center for the SEA Games in 2023. The TV Tower project is invested in by Chinese company Power China Kunming Engineering Corporate Limited, on a land area the size of 6 hectare. This new sports stadium and TV Tower should be another great boost for Cambodia's thriving tourism industry.

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

PHNOM PENH, Cambodia – 6 July 2016: After a record-­breaking year in real estate and construction, the Cambodia Property Awards returns for a second year to reward the best developers, projects and designs in the Kingdom. According to the latest research by consultancy CBRE, the capital Phnom Penh’s condominium supply is projected to rise by a staggering 794 percent or 19,018 units within the next two years, supported by sustained gross domestic product growth, attractive returns and rapid urbanisation. In another fast ­growing segment, Cambodia’s retail market is set to get a substantial boost with new retail supply coming in from foreign investors hailing from ASEAN Economic Community and East Asia. Those impressive developments will be highlighted at the second annual Cambodia Property Awards 2017, the biggest and most exclusive awards programme in the country that forms part of the regional Asia Property Awards series organised by PropertyGuru, Asia’s leading online property group. The annual real estate event was formally launched to the media on 6 July 2016 at the Empress Room of Raffles Hotel Le Royal, be to followed by an evening launch party at the historic Chinese House on Preah Sisowath Quay in Phnom Penh. With much fanfare and media coverage, the inaugural ceremony that took place on 25 February 2016 at the prestigious Sofitel Phnom Penh Phokeethra was attended by more than 300 high ­profile guests and VIPs, including His Excellency Dr Pen Sophal, representative of His Excellency Senior Minister Im Chhun Lim, who gave the inspiring keynote address. Broadcast live on CTN’s Cambodia News Channel, the 2016 Gala Dinner saw Borey Penghouth Group collect five awards including Best Developer (Cambodia), while Mr Rithy Sear, chairman of WorldBridge Land, was named Real Estate Personality of the Year by the editors of Property Report, Asia’s leading luxury real estate, architecture and design magazine. Other big winners were The Olympia City Development Co Ltd and Urbanland Asia Investment Co Ltd. “Cambodia joins the other leading economies of ASEAN in hosting its own awards programme,” Terry Blackburn, founder and managing director of the Asia Property Awards, said. “It is a testament to the strength and quality of the local industry that we have so many fine developments join our launch year in 2016.” The 2017 event aims to surpass last year’s guest list and the total number of eligible entries for categories covering the condominium, housing/villa, office and serviced apartment segments. New categories to join the programme include Special Recognition in Sustainable Development and the expanded Best Hotel Development category for Phnom Penh, Sihanoukville, and Siem Reap. Nominations are already open and will close on 4 November. Entry is free.Sign Up NowAll entrants for the Cambodia Property Awards can be nominated by a third party, including peers, professionals and consumers, and, if eligible, are rigorously and fairly judged by an independent panel of industry experts, who conduct site visits to long­listed developments in order to determine the official shortlist of nominees comprising one Winner and up to four Highly Commended in each category. BDO, one of the world’s largest accounting and auditing firms, returns as the trusted awards supervisor of the Asia Property Awards, which, in its 12th year, is widely recognised for its fairness and transparency. The official list of nominees will be revealed in mid­January 2017, along with the announcement by the editors of Property Report of Cambodia’s Real Estate Personality of Year, whose influence and achievements resonate across the kingdom.

The real estate and property markets are highly competitive. This is why it can be extremely difficult to stay in the business and find a career beyond your initial success, especially if you’re a real estate sales agent.Longevity becomes the primary issue and agents are left asking themselves how they ended up not having inquiries when just yesterday they were doing fine.CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee, Mr. Alex Evengroen addresses this issue and explains that this may be because of a weak grasp on how professionals perceive real estate agents. In a sit down interview, he reveals a couple of tips that will take professionals in the industry from an agent status to real estate sales guru.CharacterOne of the fundamental characteristics of a successful real estate sales agent is not his educational attainment, but his character and the way he conducts business. Though being certified by an institution gives you an additional coat of credibility, being certified by the clients themselves from their own personal experience will give you an edge. This becomes an advantage when they start referring you to friends and family who are looking for the same services that you offer. People have a tendency to trust people they know and a personal certification from them will always outweigh a formal one in the long run.CoverageWhile good character is important, it should also go hand in hand with being knowledgeable in terms of the ins and outs of the industry. Knowing property types and location and showing that you know what you're talking about will assure your clients that they will get the best and the most practical deals from you. It’s also crucial to give the property investment experience a personal touch. So, even if you know what you’re talking about, Evengroen says that you should still ask your clients some questions to find out what they want. This not only allows you to provide them with more flexible options, this also gives you the opportunity to compile your own personal statistics on that client and develop your own portfolio.CommunicationEvengroen says that communication is one of the most important things that you can learn in the industry. This not only extends to communication principles and etiquette. This also includes working on your language skills. He emphasizes that you have to keep learning. Knowing an additional language will give you a competitive start and follow through you need for further growth. It also builds character and your ability to learn anything. It allows investors to feel a familiarity they may otherwise miss when they transact with other agents. Among the leading languages in Cambodia are Khmer, English and Chinese. The more languages you know, the more sales you can make.CommunityDeveloping relationships in the industry is one of the biggest contributors to the successes and failures of real estate sales agents and agencies all over the world. Without good networking skills, you lose the potential client base that will organically come through referrals. So, this means that you not only develop relationships with the clients. It also means that you should develop a deeper connection with colleagues, other agents and organizations. This is why Evengroen suggests all Cambodian agents should join the CVEA - which is a big group of real estate companies registered with The Ministry of Economics and Finance.Being part of a community like this gets you the chance to learn from like-minded individuals who are willing to support you and who are also seeking to improve the industry conditions itself. So, whether it’s CVEA or not, make sure that you become part of a group of credible people and harness the power of numbers!Consistency“You only get one chance” at making first impressions. This is the sentiment shared by Evengroen during the interview. He says that who you are the first time people meet you will last until they decide to part ways with you. So, you want them to feel the support you are willing to offer them. A bad impression can somehow be offset with consistent follow-ups though. And whether you’ve made a bad or good impression, follow-ups remain one of the best ways you can close the deal. Just be mindful of the frequency so that it won’t reach a point where clients are inconvenienced by it.ConfidenceBeing a personal and professional success coach, Alex Evengroen believes that agents should first and foremost believe in themselves. They have to dare to be different. He says that "if you copy other people, no problem. But then you're one of them and you're the same.” And while it’s important to mould ourselves in the image of a successful person, our differences will serve as our personal and even professional marketing tool. He states that we must make a conscious choice to be confident. "So, if I don't believe in myself, why should you believe in me?”He further emphasizes that confidence makes other people confident that you will support them when they need it. With that assurance and with the utilization of all these tips, Evergroen firmly believes that you’ll be able to last long and hit it big in the real estate market. So, continue improving yourself and be aware of the things you’re still able to work on. And since the industry is fast growing, agents and agencies should have no excuse to do anything else other than focus on growth.Learn more through the Realestate.com.kh news section now!

Asia Property Report is in town again to start the buildup to the 2017 Cambodia Property Awards. Realestate.com.kh, as Official Property Portal Partner of the awards series, was on the scene at the Press conference in Phnom Penh this week to catch the news...Speaking at the conference was Terry Blackburn, Managing Director of Awards and Publications at PropertyGuru Pte Ltd and founder of Property Report. Also, Lim Seng Siew, partner at BDO, official judging supervisor to the awards series, spoke about the judging criteria for the night.Interested to find out more about the Cambodia Property Awards 2017? See the full details of the Cambodia Property Awards 2017 HERE and Sign Up today!

Realestate.com.kh caught up with Desmond Yap, general manager at Yong Yap Properties, to learn more about buying through a nominee structure effectively and understand the recent changes to the legal practice of Soft Title Ownership for Foreigners in Cambodia.Up until now the Ministry of Land Management, Urban Planning and Construction has turned a blind eye to the many Khans and Sangkats below their authority issuing soft titles to foreigners. In a recent announcement, however, this precedent has been totally stopped in Phnom Penh. There are however various solutions and ways around these recent changes, including buying through a nominee structure.Looking for property in Cambodia? Let us help!