Owning your dream home is now easier than ever! Phillip Bank is currently offering Cambodian property seekers up to 90% financing. Cambodian property buyers who apply with Phillip Bank will additionally be treated to an interest rate as low as 0.69% per month for up to 25 years.
Phillip Bank is part of PhillipCapital, a Singapore-based financial group founded in 1975. Through its 40 years of expansion, PhillipCapital has grown to serve more than 1 million clients worldwide and manage assets worth more than $35 billion across more than 15 major marketplaces in Asia, Europe, and North America.
Phillip Bank was established in Cambodia back in 2009. The bank has since expanded to 89 branches as of 2020 and is still pursuing plans to expand its operations in the Kingdom. Their 90% Home Loan program is the first of a series of new products Phillip Bank will be offering Cambodia’s expanding property market.
“The current property market remains competitive and it follows that we offer a similar way for buyers to purchase property easily,” stated Phillip Bank. “We’ve streamlined our qualification process to allow for fast and quick approvals”
Cambodia’s property sector has been a hot market over the last decade. While condominiums have taken the spotlight, landed properties such as boreys have equally grown in popularity.
“Land is greatly valued by Cambodian property owners. The growth of boreys in suburban areas reflects this, alongside the explosion of condominiums in the city center,” said Phillip Bank. “Our 90% Home Loan is seeking to assist Cambodian borey buyers”
The global outbreak of COVID-19 stymied most growth prospects in the Kingdom. But as a new year dawns, many believe there is hope for recovery in 2021. Phillip Bank has observed that “While it’s still not clear when the property market will see the kind of activity it did prior to 2020, we observed that real estate professionals are not simply sitting idle and waiting for things to tide over.”
“The activity we’re seeing now is the industry adapting to the new normal way of living,” said Phillip Bank. “And this year, we’ve made it our goal to help Cambodian buyers own their dream home”.