Toul Tum Poung has been known for its numerous tourist attractions, restaurants, bars, clubs, shopping and entertainment centers.
The fast rise of all these attractions, resulted in a tremendous growth of foreigners settling down in this area.
Toul Tum Poung Market is a very popular market in Phnom Penh: it’s located in Khan Chamkarmon which has one of the highest prices for land. This location is attractive for both living and business purposes due to the the significant amount of sale and rental activities.
Should I get furnished or unfurnished Houses for Rent?
Usually, homeowners will offer different services and conditions for rentals. Serviced apartments have much to offer for customers looking for high-end property, such as: fully furnished units with hot-cold water, washing machine, kitchen equipment, Internet, and cable TV. Additionally, condos often offer gyms, swimming pools, and parking.
However, currently even homeowners of simple houses offer fully-furnished units and kitchen equipment. Getting a fully-furnished rental unit will certainly provide you convenience and comfort, but it will also add to your rental cost.
What type of housing is available for rent in Toul Tum Poung?
Yim Socheat, Managing Director of CDN Property Co. Ltd, said that housing for rent in Toul Tum Poung includes family homes, Khmer style homes, European houses, villas, and apartments. The rental apartment demand is high for both locals and the foreigners who are staying temporarily in the country.
Socheath said there are two types of flats, commercial and residential. For 1 to 4 bedrooms, the rental price is from $600 to $1,000 per month. While the commercial flat will cost around $800 to $1,500 per month. Prices may vary also, depending on the house condition.
Some villas near the Russian market can be used for both residence and office space. You can get a four to eight-bedroom villa standing on 15 x 26 meters or 16 x 27 meters of land for $1,500 to $2,500 per month.
Serviced apartments are also widely available in Toul Tum Poung. One-bedroom renovated serviced apartments range from $200 to $400 per month.
Rental prices for a normal three-bedroom serviced apartment will cost around $1,000 to $1,500 per month. One-bedroom units for a newly developed serviced apartment ranges from $350 to $800. For a three-bedroom unit, it will set you back $1,500 to $2,500 for 3, according to Socheath.
quality, rooms, and amenities such as swimming pools, car parks, security, maintenance services, and internets will play a role in price as well.
Why is Toul Tum Poung so popular?
Socheath explains that Toul Tum Pong is the most popular area after BKK1 because the cost of living is lower by 30% to 40%.
He also says that many people move to the Russian market area because the quality and standard of life is similar to the one in BKK1. He also believes that in the future, Toul Tum Poung and BKK1 will be the same in terms of residential market.
This area is particularly attractive because of its fascinating mix of both traditional and modern cultures. Additionally, its close proximity to the market, makes it a great place to shop or buy gifts for family or loved ones.
This area has also a very wide selection of restaurants which offer different cuisines: Long After Dark, Divine Pizza and Ribs, Roots and Burgers, Sesame Noodle Bar, CrossFit Amatak Kettlebell Cafe, are only some of the few places that have opened in the area.
Make sure you read your terms and conditions
If you decide to rent an apartment in Toul Tum Poung, make sure that your landlord has the necessary legal documents for you. For example, if you rent a condominium, you must keep a copy of the lease and must comply with all the conditions stipulated in the contract.
To ensure the legality of your lease, you are advised to go through 3rd party affiliates such as lawyers or real estate agents to ensure the validity of the legal terms of contract. The 3rd party will need to retain a copy as well.
How do you find a good apartment for rent?
You need to take your time to find the perfect apartment which will suit your needs, especially if you are a newcomer in the market. Some people rely on private individuals who help you looking for properties. These individuals are usually brokers or referee who help you to negotiate prices without charging you a fee.
We highly advise you to seek the assistance of professional companies, whom have a solid reputation. Usually, those agencies provide reliable real estate services because they are more knowledgeable in regards to the local market.
Generally, when renting through real estate agents, it is easier and more efficient. Mr. Sornn Seap, Managing Director of Real Estate Key Real Estate said, "As a real estate professional company, we provide services based on the needs of our clients. Loyalty is key to our strategy.”
To start your search, you can visit the leading property website Realestate.com.kh. With more than 45,5000 properties listed and over 150 real estate agents and developers, you can get a fair overview of what is currently available in the market!