“Topping out” is the term given to the last stage of structural construction. The highest mixed development namely The Bridge has successfully achieved a topping out in December 2016 and well celebrated the special occasion at a private event in Sofitel on Friday the 13th of January.The Bridge set to be the iconic development of the Kingdom is a Singapore-Cambodia joined venture between Oxley Holdings and Cambodia's WorldBridgeLand. The developer has reportedly committed more than $300 million investment for this twin tower project. It is expected to complete and deliver to its buyers on time by the year 2018.Although several developments are taking place in the capital, The Bridge complex overseeing Diamond Island and Bassac River, is certainly an art of its own class to redefine the landscape of Phnom Penh. The building also enjoys good Feng Shui to enhance the lifestyle of the owners whether they are buying the units for own stay or doing business. The Bridge, directly opposite the Australian Embassy in the Tonle Bassac district, is located in the very heart of Phnom Penh. Coupled with full condo facilities, office spaces and a lifestyle shopping mall, the prime location offer the residents and commercial users an excellent choice to live, work and relax in the same complex.The developer is currently working on their second project, The Peak hotel mixed development located approximately 100 meters from The Bridge. The peak set to complete by the year 2020 and will serve to complement the lifestyle and work expectations in this city center Take a look at Oxley's next upcoming project The PEAK...For those interested in The Bridge or The Peak, please visit Oxley WorldBridge’s showroom at Great Disciple Sar Bith Street, Village 14, Khan Chamkarmorn, Sangkat Tonle Bassac, Phnom Penh (Opposite Toyoko Inn) or Find out more information about The Bridge here.

The Siem Reap province is located in the northwest area of ​​the country, along National Road No. 6, about 314 km from the capital city. Siem Reap is one of the three country's major economic areas. The other two areas include the Phnom Penh Commercial City and the port city of Sihanoukville. Siem Reap is also home to the world's famous tourist destinations known as the Angkor Wat temple. What are the types of houses for sale Siem Reap?The residential sector in the province surrounding Siem Reap is rapidly growing; with inbound tourist numbers increasing year-on-year. The increase in both tourists and expats looking for a place to stay has contributed to the sprouting of different types of housing such as boreys, shophouses, apartments, villas, and condominiums.Each type of housing is different in terms of  physical specifications, living conditions, and functional use to satisfy the local and foreign market demands.What is a Borey?A borey is a type of housing project that is popular for the Khmer standard of living, and is popular among middle and upper-class people. This type of residential development is also a good investment for developers in the country because boreys in Siem Reap are generally located in commercial areas.The primary feature of a Borey is its collection of houses attached to one another and enclosed as a gated community. Houses in a Khmer Borey may include single villas, twin villas, and flat houses. Borey developments also have a range of properties that serve the needs of both individuals and families. For example, houses within Borey Angkor Palace, Borey Nagara, and Borey Brem Brey may feature anywhere from 1 to 4 bedrooms each with a starting price of $60,000.Interested in buying a Borey? Check out our updated list of boreys for sale in Siem Reap!What is a shophouse? A shophouse is like a flathouse, a linked house, or a townhouse. Shophouses are mostly two or three stories high with a shop on the ground floor for mercantile activity and a residential space above the shop. The shophouse units are usually around the 4x16 to 5x20 sqm size with prices starting from $60,000.  Normally, a shophouse functions with a business in mind on the ground floor. This type of house is a good investment choice for those who plan on living where their business is. However, shophouses usually do not have a garden or front yard, but a small outdoor space behind the home. They generally don’t have a standalone fence for security, but feature a very secure front and back entrance with protective steel bars. Parking spaces are usually not included in the basic shophouses; many shophouse owners park their motorbikes on the ground floor or up the street curb.Are there different classifications for a shophouse?When it comes to purchase a shophouse, buyers can chose between a Khmer style, or a modern one. A Khmer-style shophouse has a traditional design focused on Khmer vernacular architectural construction. Modern shophouses, on the other hand, adopts a more contemporary and western design. It’s hard to spot the difference from the outside as some western shophouses are renovations from the Khmer style ones, and often are in the same buildings.What is a Villa?A villa is a type of private (and often luxurious) residence in the province. A villa is different from regular house primarily due to its detachment from other houses allowing it to have a yard of its own. There are different types of villas such as a hybrid, twin, and single. What makes a villa a good place to live in?Siem Reap is a place surrounded by nature: it offers trees, greenery, gardens, a good airflow and low pollution due to the limited traffic. Villas, therefore, are the perfect choice for nature lovers and those wishing for a great amount of privacy. Villas for sale are generally available from $150,000 - $230,000 depending on their location and features.Another factor to take in consideration is the long term prospect of the investment; Siem Reap is one of the main tourist destinations of Cambodia, bringing millions of tourists every year. For instance, according to Apsara Authority report there are more than two million visitors on average in Siem Reap every year. Check out villa for sale in Siem Reap!What is a condominium?A condominium units exist within a tower building with a number of residents. Individual unit owners share ownership of the common areas in a condominium. These include the recreation rooms, playgrounds, gardens, and also the courtyards. Common areas can be used by anybody residing in the building. But the individual condo units remain the private ownership of the residents. Condominiums usually have staff on-site to assist the needs of the unit owners. Condominiums also offer  security features and shared parking areas.What makes condominiums attractive living spaces?Condominiums is a great choice for a first house since it offers many amenities and management-facilitated services which save  money, time, and efforts of the owners. Generally, condominiums are located in the inner city, near the commercial hubs. Condos usually offer great  views, and feature fresh air and cool temperatures.Even if condominium units have just a wall separating you from your neighbors, this type of housing is still more private than a standalone home and will also have added security services. Maintenance fees and association dues will, however, be charged to all residents to manage common areas. Lastly, condominiums usually have many internal regulations and may have restrictions in regards to the restructuring of the unit.  Are there a lot of condominiums in Siem Reap?There are a lot of condomoniums in Siem Reap ready for occupancy. These condos have a starting price of $65,000 per unit. These units feature anywhere between 1 to 3 bedrooms and offering spaces up to a crazy 1,500 sqm. Check out our list of condos for sale in Siem Reap to find what's best for you!Where do locals and foreigners prefer to live in Siem Reap?Cambodians won’t have any troubles living in Siem Reap, it’s just a matter of deciding on preference and needs. But for foreigners, there are two main areas they are likely to settle down. Asian tourists such as the Chinese and South Koreans, prefer to live in the west side of the Siem Reap river due to the high concentration of  tourist companies, restaurants, bars, stores, and souvenir shops. Europeans or westerners in general, prefer living on the eastern side of the Siem Reap river because the residential areas are mainly located in green areas, integrating homes with nature.If I buy a house in Siem Reap for investment in which area should I buy? Mr. Sok Sarath, a real estate agent in Siem Reap, suggested that those buying to invest, should consider the area around the ring road. According to Mr Sarath, this area with the most potential whether for living or investing. Other areas worth of investments are the Central and Upper Market.Is investing in Siem Reap better than Sihanoukville or Phnom Penh?The biggest incentive for investors to invest in the province lies in its land prices. Price per square meter in Sieam Reap are significantly lower compared to  land prices in Phnom Penh. The population is also comparatively low; creating an environment of tranquility suitable for those wanting to escape for the hustle-and-bustle of big cities. Moreover, the province has also seen an increase of businesses such as hotels, restaurants, private clinics and schools, resulting in a perfect place that can adequately support families.Where are the most developed areas in Siem Reap?Mr Sarath suggested  that the number of houses for sale in Siem Reap is rising inside the ring road area of the city, especially along main roads such as Sivatha Boulevard, Charles de Gaulle Street and Route No. 6. The development of residential and commercials areas is attritubted to the continuous growth of both domestic and international tourism in Siem Reap.At present, new businesses such as contractors and agricultural companies have turned up along Road No. 6 to the Prasat Bakong district, toward Phnom Penh.Does Siem Reap suffer from floods?Residents of Siem Reap don’t seem to worry about flooding. In recent years, there have been no floods in the area. However, if you are going to buy a house on the ground floor, double check with the previous owner and neighbours whether or not your new home is prone to flooding.How is the infrastructure in Siem Reap?Siem Reap infrastructure is developing rapidly; roads are interconnected to different areas of the province which is key for the development and expansion of the city.The roads of Siem Reap also connect to a number of different temples of Siem Reap, Phnom Penh, Battambang, Kep and Kampot, Sihanoukville, and Kampong Cham. Road links between the provinces benefits the real estate market in Siem Reap by making them more accessible to one another.Public Service InfrastructureFor families looking to settle down in Siem Reap, there is an increasing number of international schools being offered, which in turn are rqising the educational standards within the city at impressive rates. Healthcare is massively improving, as well.Siem Reap has a number of international standard hospitals and clinics – including the international standard Thai-managed Royal Angkor International Hospital, which is affiliated with the Bangkok Hospital Medical Center, offering medical services for locals as well as expats.How is Food and Entertainment in the town?Siem Reap offers a great mix of cultures and flavours from all over the world. The area is filled with Khmer, European, Chinese, Korean, Japanese, Thai, Indian, French, and other international restaurants. These are available, especially on Pub Street -- a place that is reminiscent of the cities of Europe.Other than street food, the city offers many places for entertainment:pubs, bars, karaokes, and clubs where people can enjoy talking, drinking and, dancing.Curious about living in Siem Reap? Take the first step in imagining a life by checking our list of houses for sale in Siem Reap today!

The Toul Kork district is one of the 11 districts in the capital city extending over 8 km. It's known for its high concentration of villas, low-to-high-end condominiums, and a growing business district!Looking at the current development project in the district, we can notice that there is a range of international schools, restaurants, commercial buildings, shopping malls, sport centers, and coffee shops.Additionally, Toul Kork also offers new developments such as the TK Royal One, The Gateway, Apennines Condominium​, and many more. Due to its fast development, this is currently one of the best locations for living or working. This in turn has increased increased the demand for accommodation within this district. Currently there are several houses for sale in Toul Kork and houses for rent in Toul Kork.Tips for renting in Toul Kork DistrictWe're making it a point that readers who go through our blog are well-informed about the various steps and important things to remember when making investments (yes, renting is an investment!). That's why we've created these important questions to ask if you're looking to rent in this fast growing district!What documents should I secure?If you have decided to look for Houses for Rent in Toul Kork, you should ensure that your landlord is able to issue a legal rental agreement. Make sure that you agree with all the rights and obligations defined in the lease ad that you retain a copy of the agreement.To ensure the legality and vitality of the lease, you can also consider hiring a 3rd party service provider such as lawyers or a reputable estate agents to ascertain the legal liabilities stated in the contract.Should I get a furnished or unfurnished house for rent in Toul Kork?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.Ms. Sengly, the owner of a rental house on the 2nd floor in Toul Kork said, "In the  past, I used to rent out my house without furniture. Later on, I had to  add kitchen equipment, a sofa, beds, cable TV, etc. This increases the tenants demand as well as the rental price."Getting a fully-furnished rental unit will provide convenience and comfort, especially for expats who who just want to live and work in Cambodia and would rather not worry about where to buy appliances. Fortunately, more and more rentals - be it apartments or condos - are offering fully furnished rooms.What are the rental prices and included amenities in Toul Kork houses for rent?Depending on your preference and needs, you may opt to rent a condominium in Toul Kork; you can get a furnished one-bedroom condo unit for $250 a month up to a four-bedroom fully-furnished lower-end unit for $2,000 a month near TK Avenue. Prime Units in Boeung Kak 1 have three bedroom units for around $2,100 a month. Serviced apartments are also widely available -- starting from $350 to around $4,000 per month, depending on the area, services, and amenities.The rental prices for a villa starts at around $550 and up -- depending on quality, rooms, and amenities such as swimming pools. Villa’s are more freely available for rent and sale in Toul Kork, as compared to prime inner city districts where the availability of villas are now very low, and also much more expensive than those in Toul Kork.An increasing number of borey developments are also popping up around Toul Kork, proving very popular with local buyers seeking shop houses and villas with sound infrastructure and a safe neighbourhood environment.What is the benefit of long-term rental and short term rental agreements?Usually the duration of the lease contracts range from 6 months to 12 months.Foreigners seem to have been more reluctant to long-term lease contracts and rather prefer short-term agreements with month-by-month payment scheme, since they usually don’t stay long.However, long-term lease contracts can have their perks: they presents a great opportunity for negotiations the deposit and monthly rent with the owner. Owners will most likely approve the request due to the long time rent prospect.Where do I start looking for rentals in Toul Kork?Finding a good rental space that suits your needs will likely take some time -- especially if you are a newcomer (more so as a foreigner) in town. Some people rely on private brokers who assist them during the house hunting. It's good practice to search for real estate agents who are under licensed companies. Renters do not pay any fee to the real estate agent, since they charge a commission to the landlords. We've compiled a list of reliable real estate agencies in Cambodia that can save you a great deal of time and offer services for FREE.Miss En Chansreyleak, Sales staff in the real estate company Yong Yap Properties -- one of the leading property service agencies for selling and renting real estate in Phnom Penh said, "As a standard for real estate agents, we provide services in a very efficient and trustworthy manner to our clients."Chansreyleak continued, "We understand the needs of the clients. In addition, we provide counseling and help solve problems they might face during their stay. Honesty and professionalism, this is what you should look for in real estate agents, to help find homes for rent or sale."Are there other options to look for properties on my own?You can visit Realestate.com.kh, the leading real estate portal in the country. Here you can freely browse among more than 45,500 properties of all types, filtering by price,location. etcWhat taxes do I have to pay when I rent?By law, when property owners lease to individual tenants, those must pay 10 percent of the monthly rent to the government. However, depending on the agreement between the landlord and tenants, in some cases the landlord can do that for them.In the past, the real estate entity would normally withhold 10% of the rent from the Lessor and in a sub-lease situation, the tenant of the real estate entity would withhold 10% of the rent on the sub-lease to the real estate company.  Instruction 18410 now provides for an exemption on the withholding tax on the sublease, if both the lessor and lessee are registered tax payers.Looking for real estate for rent in Phnom Penh? Or want to read about critical tips for prospective lessors? Check out Realestate.com.kh.

Boeung Keng Kang (BKK) is an area in Khan Chamkarmon considered as one of Cambodia’s most prime real estate destinations. It has three main divisions. Namely, Boeung Keng Kang Muoy (BKK1), Boeung Keng Kang Pir (BKK2), and Boeng Keng Kang Bei (BKK3).BKK1 is a suburb that has hosted NGOs, expats, officials, ministries and businesses throughout the years. Compared to BKK2 and BKK3, it’s a hotspot for upmarket bars and restaurants, international F&B brands, and retail stores. BKK2 is the area situated to the west of BKK1, and still has its fair share of venues and upmarket accommodation - but generally cheaper than uptown BKK1. In comparison, BKK3 is known to sport the best of both traditional Khmer and modern expatriate living, and a quieter set of neighbourhoods.How’s the Boeung Keng Kang property market?Boeung Keng Kang Land Market:The Khmer Times reported that land prices in the area remained stable during the 1st half of 2016. This stability was attributed to the slowing down of investments in the area. Land price in BKK costs around $3,800 to $5,000 per square meter.The general manager of Lucky Real Estate Co. Ltd., Poe Eavkong, adds, “The prices are at the maximum now and that’s why they are stable. But I don’t expect them to fall.” He clarifies, “Compared to neighboring countries, our land prices in the city seem to be lower.”Boeung Keng Kang Residential Property Market:Boeung Keng Kang remains to be the hottest zone for residential properties in  Cambodia, according to the 2nd Quarterly Report released by Bonna Realty last July. BKK took up 51 percent of apartment shares in Chamkarmon district - with a total of 145. BKK3 came in at 8 percent, BKK2 at 9 percent, and BKK1 leading at 34 percent of the currently occupiable apartment and condo stock.If you’re buying a condominium unit, a fully furnished unit goes for as low as $35,000 in BKK. But if you’re looking for more of upscale living, penthouse units go as high as $1.3 million for a unit. Depending on your needs, you can rent a two-bedroom unit for $130 per month or up to $4,100 per month for a fully furnished three-bedroom unit in a “no flood” area.Serviced apartment rental rates in Boeung Keng Kang go as high as $4,500 per month for a three-bedroom apartment. But many quality serviced apartments can be secured for around $1000 per month. Amenities and quality significantly impact pricing. An apartment with just basic services can be fetched for around $400 per month.There are also villas in the area for varying needs. A one-bedroom villa goes for as low as $700 a month in rent. Some Villa’s are still available for sale in Boeung Keng Kang, but there is a limited supply. Many villa properties have been purchased by apartment, hotel and condo developers to make way for new construction. Meanwhile, expect to pay for what you get, because good quality villas with surrounding land are in high demand from wealthy locals in this area. Villas have also been popular for businesses looking to create an office and retail venues looking for something a bit classier than a standard shophouse/flat houses for sale in the area.Prices may vary a little between the three areas though. BKK1 properties are generally more expensive than BKK2 and BKK3 because of an abundance of development taking hold of the available land in downtown BKK1. Developers can afford to pay top dollar for land in the area, meanwhile wealthy renters can afford to pay high monthly rates. These factors are pushing those with less money to put down out of the uptown market.Rental rates are some of the highest in the nation, given the concentration of expats, corporates and high-value Khmer residents in BKK. These high rental rates, in combination with strong occupancy rates, are fueling confidence for developers in strong rental returns into the coming years.Meanwhile, occupancy rates in this area remain strong; in fact some of the strongest across the nation: As of Q2 2016, CBRE suggests that overall apartment occupancy rates in Phnom Penh sat at 86.8% (across all grades and Phnom Penh districts). Knight Frank Cambodia stated in mid-2016 that serviced apartments that are located in prime areas, such as BKK, continue to perform well commanding occupancies of above 80%.Office Spaces and Business Centers in Boeung Keng Kang:A range of offices are available to rent in Boeung Keng Kang, especially in the BKK1 area. Rental rates start from $1,300 for a 100 square meter office and can range up until $5,500 per month for an office with a complete set of equipment and facilities.New Developments in Boeung Keng Kang:There are lots of hot new developments in Boeung Keng Kang.One of them is 88 Suites, developed by YCT Land. This development will be the first pure small office/home office (SOHO) in Cambodia. It will include amenities like a roof deck, a gym, sauna, a pool, and a state-of-the-art automated smart parking system. The target completion will be by the end of 2018.The Imperial Crown Condominium will also make its debut soon. It is inspired by the artistic quality and top-notch design and construction of Baroque architecture. This has been modernized and will be realized into a prime residential dwelling. Materials included in the construction includes sandstone which will not require maintenance for up to 20 years. It will also have a total of six floors of parking space.Boeung Keng Kang Lifestyle:What schools are in the Boeung Keng Kang area?Top international schools in the vicinity include The International School of Phnom Penh (ISPP), CIA Phnom Penh International School, The Bridgeton School & The Raffles Montessori School of Phnom Penh.A collection of other schools are available from BKK1 to BKK3, including the Footprints International School, Paññasastra International School, Western International School of Cambodia, Bamboo International School, and HKC Tree International School. The area also has music and art schools like the Neak Poan School of Music and the Ocarina French Music & Art School.Instructors from some of these schools have Teaching English as a Foreign Language certification, NZQA qualification in Business and Computing, and a Teaching English to Speakers of Other Languages degree.Some of these schools have international certifications from Western Association of Schools and Colleges, the Ministry of Education, Youth and Sport, the Cambridge International Examination Centre, and the International Primary Curriculum.How do I move around Boeung Keng Kang?Boeung Keng Kang has a network of taxis, tuk tuks, motos, and public buses. The three main transport routes for buses that were opened in 2014 run to and from Monivong Boulevard to Okaha Suy Sophan, Ta Khmao to the Night Market, and Chom Chay Roundabout to the NIght Market. Students and Senior Citizens ride free.How is infrastructure in Boeung Keng Kang improving?Among other monuments, Wat Than, Wat Svay Poper, Wat Lanka, the Phnom Penh international Airport, Independence Monument, Embassies of Brunei, Bulgaria, and Sweden are accessible through the main roads in and around Boeung Keng Kang. These include Monivong Boulevard, Norodom Boulevard, Sothearos Boulevard, Sihanouk Boulevard, and Mao Tse Toung Boulevard.What if I get sick? Are there Boeung Keng Kang Medical Centers?Meanwhile, some of the leading clinics in BKK1 include The Khema Clinic, The International SOS Clinic, and The Naga Clinic, to name just a few. Other in the area are the Maliya Hospital at St. 392, Japanese-run Ken Clinic at St. 370, Cabinet Médical Francais at St. 57. There’s also smaller medical facilities like the SMC Clinic.Dental clinics are also available. These include the Pachem Dental Clinic at Norodom Boulevard and Japanese-owned Shigeta Dental Clinic at the corner of St. 294 and St. 21.Is the Boeung Keng Kang area prone to natural disasters?High end constructions since last year have been made in BKK1 for its low risk profile for natural disasters. Regardless, the Ministry of Public Works and Transport expanded and repaired around 162,871 meters of drainage area in Boeung Keng Kang to anticipate flooding and drainage woes.What’s the nightlife like in Boeung Keng Kang?Most of the bars and clubs in the area are concentrated at the north end of BKK1. Backpacker/Hostel bars dominate the night scene. Popular Boeung Keng Kang bars include the Mini Banana’s Hostel Bar and the Blue Dog Bar located across the Urban Patio Hotel, The White Rabbit Hostel Bar on St. 294, The Mad Monkey Bar on St. 302, Duplex Club & Bar on St. 278, and Club Love!But if you are looking for something a bit more up-market, BKK also has a lot to offer for trendy cocktails and fine dining. In this area you can find some of the best restaurants and bars that Cambodia have to offer.Are there any places to shop and eat in Boeung Keng Kang?Boeung Keng Kang is near the Aeon Mall at Tonle Bassac. It also has a variety of cafés and food places such as Costa Coffee, Brown Coffee, True Coffee, Gloria Jean’s Coffee, Fish & Co., Aria D’Italia, Sushi Honda, Blue Pumpkin, Deco,  Comme a la Maison, Uraetei BBQ Japan, and the Lost Room.Fast food places like Burger King, Bonchon, Domino’s Pizza, and KFC are also available. Markets like the Thai Huot on St. 352, Boeung Keng Kang Market on St. 380, and the Lucky Market. For organic finds, meats, and cheese. And Veggy’s organic is located along St. 240.Where are the Gyms, Fitness and Wellness Centers in Boeung Keng Kang?For workouts, you can choose between nearby Paddy’s Fight Club at St. 294, Afighter Gym, Chey Mongkul Sport Club at St. 360, Crossfit Amatak, Superfit Fitness and Health Club at Mao Tse Toung Boulevard, and VIP Sports Club at Norodom Boulevard.For peace and relaxation, spas and wellness centers like the Soben Spa at St. 294, La Rose Boutique Hotel & Spa at Norodom Boulevard, Oriental Spa along Sothearos Boulevard, the Samata Health & Wellness Studio, and the Angkor Spa along St. 310.Now you know the neighbourhood. Take a look at properties for rent and properties for sale Boeung Keng Kang!

As many major residential projects reach completion across Phnom Penh in 2017, condos, boreys, and mixed-use complexes alike, industry insiders are becoming increasingly focused on what will become of these buildings once actively occupied with residents. More specifically, how well will the property be managed.Cambodia has traditionally been a market in which family-owned buildings are essentially managed by the family members with a sporadic collection of maintenance fees from tenants. Yet, in a 200+ unit condo tower, this model is shaky at best. “The gap comes from an overall lack of talent in the market, whether you are looking for an experienced Property Manager or Chief Engineer, or even Operations Manager,” says Sunny Soo, Managing Director of Keystone Property Consultants Co., Ltd., an international associate of Savills. “Unlike countries like China, Thailand or even Vietnam, property management in these markets is already a mature industry. Human resources is still a big issue here,” continues Soo.Simon Griffiths, Senior Associate Director at CBRE Cambodia, agrees, stating that, “there are very few experienced property managers in Cambodia - and not surprisingly so, given that Cambodia has been a low-rise nation up until the recent surge of development. This is accentuated by Cambodians not having the benefit to learn from previous generations - and in the property management industry, experience beats academic qualifications.” “Meanwhile, the legal framework has ‘grey areas’ - more grey than black and white,” says Griffiths. “With structural weakness in the legal system, there are owners/tenants who do not wish to pay their service charge and see it is optional for them often using any excuse or reason to avoid paying. If there is no money in the property management account for a building, lights are switched off, elevators are not fixed and staff are let go. Combine all the above factors and it is a difficult industry facing challenges,” he continues. “There is a gap currently between the expectation of the developer that is usually unattainable from the lower sum of management fee collection they would want to collect,” says Soo.Matthew Rendall, senior partner at Sok Siphana & Associates, a member of ZICOlaw, states “there needs to be a development of the owner-run body corporate culture (where owners come together as the management body and control the sinking fund etc). Failing this, the developers either have to manage the apartment blocks in perpetuity or risk the development falling into disrepair.” As many projects reach completion, dangers exist for the end buyer if a sound property management system is not in place. “The high-end, good quality projects would have hired foreign management firms to start with in the first place. As for the others, buyers should take note of the ill market demand of a lesser managed property and hence take corrective measures decisively, the sooner the better.A sound system will show up over time,” notes Benny Tan, Principal Consultant at Raffles Strata Management (Cambodia) Pte Ltd. “Remember that “cheaper is not better!” If you demand a cheap steak and then complain it is tough, you should not be surprised - you pay for what you get and it is the same with property management,” says Griffiths. “If a developer tries to sell you a condo unit with a cheap service charge, expect low quality and that the lifetime and value of your investment is at risk. $1 per square meter service charges in the residential condo sector as a general market practice guide are wrong - they are too low. Buyers must see the budget plan for property management from the developer. If the developer is not sure what this is, start to be concerned as property management is clearly being treated as an afterthought,” continues Griffiths. "It is highly advisable for potential buyers to scrutinize the sale contracts to identify precisely what the developer proposes regarding the ongoing management of the facility. This is as important as the quality and design of the structure itself.If the contract is silent or unclear on this point beware. Buyers should also look at the developer’s previous developments and judge them by how well they are managed (when deciding whether to buy into a developer’s subsequent development),” concludes Rendall. Yet, the market may be in the midst of a natural learning curve. “The other regional markets have had gone through the same. Such a gap exists initially but when the local market opens herself to the higher standards elsewhere and embraces the same, the gap gets narrower and vanishes eventually,” says Tan.By James Whitehead @ Realestate.com.kh This story was a co-production of the Khmer Times & Realestate.com.kh “Property” Liftout. The section is available every Wednesday in the Khmer Times newspaper, with 10,000 copies distributed across Cambodia every day. Contact us today for advertising opportunities in the Khmer Times/Realestate.com.kh Property liftout.

Khan (district) Daun Penh’s name comes from a local legend where a woman named Lady Penh supposedly found statues of Buddha inside a floating tree along the Mekong river. Nowadays, Daun Penh is considered one of the largest commercial hubs in Phnom Penh – lined with art deco architecture, sprawling local markets, various F&B options and criss-crossed by key arterial roads of the capital city.Khan Duan Penh has 11 Sangkats in total. These are Srah Chak, Phsah Chas, Phsah Kandal I, Phsah Kandal II, Chey Chomneas, Chaktomuk, Phsah Thmey I, Phsah Thmey II, Phsah Thmey III, Boeng Raing, and the location where Lady Penh supposedly hid the artifacts, Wat Phnom.How’s the property market in Daun Penh?Duan Penh Land Market:Land prices in Phnom Penh continued to rise from 2010 to 2016. Daun Penh represents one of Phnom Penh’s most valuable districts. Land value in Daun Penh generally ranges between $4,000 to $4,300 per square meter, according to the H2 2016 CBRE Cambodia Market Overview by CBRE Cambodia. It is considerably cheaper than land in BKK 1 & 2, yet prices are still high in Duan Penh is key retail locations and along main roads. Parking is in high demand in this district, so land lots with space for car parking are highly sought after.Duan Penh Residential Property Market:Condominiums/Condos in the area range from $21,500 for a basic, unfurnished one room unit to $520,000 for a fully furnished two-bedroom unit. Rental rates are from $150 a month for a unit near Sorya Mall up to $2,800 per month for a unit in Phsar Kandal I. These prices for both rental and sale of condos varies dramatically depending on the quality of construction, management and location.Some Villas are still available for sale in Daun Penh, but there is a limited supply. Many villa properties have been purchased by apartment, hotel and condo developers to make way for new construction. Meanwhile, expect to pay for what you get, because good quality villas with surrounding land are in high demand from wealthy locals in this area. You can rent a 200-square-meter villa for $600 a month all the way to $25,000 a month for a high-end 600-square meter villa. For sale prices start from around $200,000 and can rise to the millions depending on quality, land size and location.Flats and shophouses for sale can start from $29,500. It can go up to $2 million for a flat with four-bedrooms and 4-bathrooms. Rental rates start from $90 a month to several thousand a month, depending on location and quality.There are also a number of Borey projects in the area that you can inquire about if you want to buy a property within a gated community. Some of these are completed already, others are still in progress.Office Spaces and Business Centers in Daun Penh:Rental rates for office spaces in Daun Penh can go for as low as $6 per square meter a month and as high as $15 million to buy an entire office building with a land area of 1,070 square meters.The major business center here is the Canadia Bank Tower, located at Ang Doung Street. It has 32 stories and has a total area of 6,000 square meters. It will comprise of a business lounge, workstations, meeting rooms, part-time offices, day offices, internal offices, and window offices that you can rent out through office provider, Regus.The Vattanac Capital Tower is one of the most prestigious locations for business in Phnom Penh. It stands at a total of 187.3 meters high with 39 storeys of commercial space.It was built with international standards and even has a Gold Certification in Leadership in Energy and Environmental Design as a green facility from the United States Green Building Council.The Phnom Penh Tower is another business center here. It also has a gross area of 1,172 square meters. It provides office spaces for every need and caters to anyone from individuals to large brands.16-Levels of Grade A office space will also be available through the Hong Kong Land Exchange Square, which is expected to reach completion in 2017. The development – 30,000 square meters in size – will also include a four-level retail podium.  Daun Penh Lifestyle:What is Daun Penh’s environment like?Daun Penh is characterized by its tasteful mix of culture and diversity. It contains historical value through its legends and structures but it also does not steer away from the construction of modern establishments such as restaurants, bars, hotels, business centers, and condominiums. It has no shortage of activities for backpackers all the way to executives. In Daun Penh, you are who you want to be because you have a variety of lifestyle options.Daun Penh encompasses the Riverside area - and overlooks the great Tonle Sap river. Lifestyle wise, riverside has the best selection of restaurants and bars, making it very easy to meet new people. Of course it is riverfront, which means amazing views and fresh air. Riverside also has plenty of markets. For people interested in Riverside real estate, most of all this area is convenient – everything is just a walk away.In regards to Tourism, riverside is the #1 spot in Phnom Penh, and one of Cambodia’s travel hubs. Here you can easily access all tourist amenities, such as bus tickets, ferry tours, the night market, royal palace, and riverside is also home to a host of cultural events & festivals.Are there any places to shop, eat, or entertain yourself in Daun Penh?There are plenty of places to go to in Daun Penh such as the Central Market between St. 126 and St 136. It was built in the 1930s and is a bargainer’s heaven for souvenirs, handicraft, shirts, and jewelry. And just south of Central Market is the Sorya Mall – a more westernized retail mall – which was once the largest shopping complex in Cambodia. Sorya Mall is currently being remodeled to attract new brands and create a more-modern shopping experience.Golden Sorya Mall was also Phnom Penh’s biggest mall back in 2009. It has a number of food courts and a big supermarket inside. But if you’re looking for western supplies, Lucky Market is just along Sihanouk Boulevard, and includes a very well stocked supermarket.A variety of restaurants, fast food joints, and coffee shops are available as well such as Kentucky Fried Chicken, Lucky Burger, The Deli Bistro Gourmet on St. 178, Ratanakiri Restaurant on St. 51, Le Point Café Restaurant, Mekong Korean Restaurant, Sarpino’s Pizzeria, Golden Mermaid Restaurant, Brown Coffee, KOI Café Vattanac Capital, Bloom Café, and many more.For those looking to create home-cooked meals, there’s the Kandal Market, Pencil Supermarket, Orussey Market, and the Old Market. Here you can buy just about anything from the expansive wet and dry markets.Where are the Gyms, Fitness and Wellness Centers in Daun Penh?For those looking to unwind, relax, or work out, Daun Penh is crawling with health and wellness facilities. Among them are The Place 2 at St. 278, Prokout Fitness and Fight Center, Paddy’s Fight Club, and Kim Hour gym. Spa’s include the SK Relax Massage & Spa I, M Health Khmer Spa, and the Rock Hotel and Spa.What’s the nightlife like in Daun Penh?For hanging out and chilling, you can head on over to the three main areas of nightlife in Daun Penh. Street 51 includes dynamic beats from Pontoon which serves up some mean music like EDM or electro house. Heart of Darkness is also on Street 51 which has been serving the locals and tourists since 1993. Street 51 area is the most well known area for bars and clubbing in Phnom Penh.The riverside walk area is another popular location for people looking to go out and have fun. The Metro Hassakan is just one of the trendy eateries located here which serves Tapas by day and cocktails by night. It has a more upscale vibe with well-dressed tourists and trendy locals. Just stroll the riverside for countless other options and all variety of cuisines.The third main area is over at Street 172 where you will find a strip of bars, restaurants and hotels. Since the filling of Boeung Kak lake years ago, many tourism ventures relocated on this street and have imported a truly metropolitan crowd. Other bars in Daun Penh include Blue Chilli Bar on St. 178, The Empire Movie House, Bar & Restaurant, Velkommen Backpackers, Shanghai Bar and Restaurant, Oasis Bar, Eden’s Bar, Dream Bar, and bars in hotels like Monsoon Boutique Hotel, Le Grand Mekong Hotel, and Hotel Cambodiana.What schools are in the area?Daun Penh is filled with bilingual schools that are also accredited by IELTS and TOEFL. Some of them also offer U.S. high school diplomas on top of Cambodian high school diplomas. These institutes include the Wat Koh High School, Preah Sisowath High School, Westline School, Chaktomuk Secondary School, Paññāsāstra University of Cambodia, Beijing International Academy, Student Development Institute, Hun Sen Bun Rany Wat Phnom High School, Preah Sihanouk Raja, Golden Gate American School, ICS International School, and the Sovannaphumi School.A number of these schools are also registered with the Cambodian Ministry of Education and accredited by the Cambridge International Exams, Western Association of Schools and Colleges, Middle States Association of Colleges and Commissions on Elementary and Secondary Schools and the National Council for Private Schools.How do I move around the city?There are plenty of transportation options in Daun Penh which is evidenced by numerous terminals and stations connecting the area to the outer provinces and cities of Cambodia.Cambodia Railway Station is one of them - and this has a passenger line to Kampot and Sihanoukville. Other terminals include the Battambang Taxi Station, Central Market Bus Stop, G.S.T. Express Bus Stop, Medical University Bus Stop, BKC Bus Stop, Monivong Road 214 Bus Stop 36, Kampong Chamlong Phnom Penh, Precah Ket Mealea Hospital Bus Stop, Calmete Hospital Bus Stop, Old Stadium Roundabout Bus Stop, Giant Ibis Bus terminal, Larryta Express terminal, and the Daun Penh Health Center Bus Stop.There are a also tuk tuks and motorbike taxis available in the area. If you’re using your own vehicle, bikes are also a normal sighting in Daun Penh. Cars also have easy access to different parts of Phnom Penh through Daun Penh’s surrounding main roads.What if I get sick? Are there Daun Penh Medical Centers?Serving as the location for the Medical University, Medical centers and medical supply stores such as pharmacies are also abundant in the area.Pharmacies in the area include the Pharmacy Gold Palace in National Highway 5, the Pharmart UHS, and the Pharmacie De La Gare along Preah Monivong Boulevard, U-Care along Preah Norodom Boulevard, and U Care Pharma along Samdach Sothearos Boulevard.Hospitals in Daun Penh include the Daun Penh Health Center, Calmette Hospital on St. 80, Bayon Hospital along Prah Norodom Boulevard, the Preah Ket Mealea Hospital on St. 47, and the Ang Duong Hospital.For your dental care and needs, there’s also the Roomchang Dental Hospital located on St. 184 in Sangkat Phsar Thmey III. This is known as one of Cambodia’s leading dental clinics.Is the Daun Penh area prone to natural disasters?Daun Penh is prone to flooding. Just recently, reports have circulated about Daun Penh district’s Psar Kandal commune, Chamkarmon district’s Tonle Bassac commune and Tuol Kork district’s Doeum Kor Market partially submerged in flood waters.A continuous government initiative to offset flooding is being made. There are now more than ten pumping stations in Phnom Penh after construction of a new pumping station was started in 2015 in Boeung Trabek.City hall spokesman, Chen Bunthoeun, said that “based on new water pumping stations that are equipped with large pumping heads which we are installing, the governor guarantees that the city won’t be affected by flooding again.”If you want to make sure the area you’re going to live in has no flooding issues, check the surrounding area or the property itself for flood lines. These are usually darker discolorations at the bottom part of a wall or vertical surface. You can also check for fresh paint jobs at the bottom part of these surfaces.If you’ve already purchased or rented a house and read this just now, getting around the city during a flood will be manageable using a tuktuk or taxi. Storms in Cambodia are also windy. So, thick and waterproof outerwear would be better than using an upturned umbrella.Now you know the neighbourhood. Take a look at some properties that are up for rent and for sale in Daun Penh!

If you are considering buying a house for sale in Phnom Penh you may think that the only things you need to think about are the price, the quality, and the location. Yet there are several other things you should familiarize yourself with before you select your new home in Phnom Penh.Realestate.com.kh is here to help - with a step by step guide to choosing the right house for sale in Phnom Penh:What are the types of houses for sale in Phnom Penh?There are a few kinds properties you need to define first before actually deciding on what type to get. In Cambodia, these are generally Shophouses, Villas, Borey Homes and Condominiums.Each type of house is a bit different in terms of physical specs, supply in the market and the kind of ownership available. Depending on the size of your family, your budget and your commute to work - each of these types of properties offer various pros and cons. Also, in regards to home ownership, depending if you're a Cambodian citizen or not, some of these properties may not be available for you to purchase.What are Shophouses?Shophouses, aka townhouses, flats houses, or link houses, are townhouses that are typically characterized by its standard setup, and by facing a main street or road. It has a shop front at the ground floor facing the street and residential areas in the back section of the ground floor, and above the ground floor. Hence the term “shophouse”.The shophouse units are generally 4 x 16 meters squared in size, and generally 2 or 3 floors high. Shophouses sit together in a row of houses generally.Shophouses located in popular urban areas offer a bonus for families - as the front of the home is easily converted into a restaurant, mart or other small retail venture. Yet, the rest of the home can still be used for the family’s living. Having said this, you don’t need to have a shop just because you have brought a shophouse.Generally, shop houses will not have front yard or garden, and likely only a small outdoor space behind the home. They won’t generally have a stand alone fence for security - but they will usually have a very secure front entrance and back entrance, and a protective screen. Car parking is often difficult with a basic shophouse, however many shophouse owners park their motorbikes inside the bottom floor room for security at night.  There are different types of shophouses. The Khmer-style shophouses have a more traditional design and more basic interior fit outs. While modern or western shophouses have incorporated a more current design and interior decoration and amenities that expats deem as necessities - such as western style toilets, baths, ovens, air con etc. It’s hard to spot the difference externally because some western shophouses only renovated on the inside.The maintenance and upkeep of shophouses are pretty straightforward and low since the property is sectioned into smaller areas. It’s also pretty accessible since shophouses tend to be where the foot traffic is. That being said, it can also get noisy as a result of that.Are shophouses susceptible to floods?Because you are on the ground floor, be careful of buying a shophouse in a flooding area. Check with the past owner and neighbours whether or not your new home is prone to flooding. If it is, you had better be prepared when the rains come. If you are buying in a flooding area, this should reduce the price.Can foreigners own shophouses?Not really. Foreigners can only technically own a shophouse through a nominee structure where foreign investors enter into a trust agreement with the owner. The land or property is then held for mortgage. The property’s then leased to the foreigner.  You would need a mortgage agreement, a lease agreement, a loan agreement, and a security agreement. But use this structure at your own risk. This is still a violation against the constitution of the land law in Cambodia. A 3 story shophouse will not have a strata title available for its 2nd and 3rd floor units as it is likely built before this law was implemented (2010) and the owners are unlikely to have filed for strata title creation - therefore, foreigners could not buy is as they could a new condo unit.Learn more about buying a shophouse via nominee structuring. Learn more about different land titles in Cambodia.If I'm a Cambodian, should I buy a shophouse in Phnom Penh with a hard or soft title?For Cambodian citizens who want to buy a shophouse, it's worth noting that many shophouses are sold with a soft title. While soft titles are cheap and fast to obtain, they present risks that may affect ownership rights in the future since soft titles are not recognized on a national level. It's advised that Cambodian citizens secure a hard title for their new shophouse home. This will incur more cost (4% of the properties value, and some bureaucratic fees), but the protection is highly valuable.Note that if the seller can’t offer hard title ownership, or seems reluctant to, there are probably some issues with the title. Due diligence is in order on the buyer's part to find out more about the title and the true ownership of the property before handing over any money.Land Management and Administration Project (LMAP) titles can also be utilized. This is considered to be the safest kind of land title because it utilizes GPS coordinates to allocate land plots for the shophouses. This accurately defines the boundaries of a purchased plot of land. It has no significant difference from hard titles except for the fact that it comes with more detailed information. And the best part is, if you can obtain this type of title, you will be safe from any claims to parts of your property into the future - because you have confirmation of the exact boundaries of your property ownership.Interested in buying a shophouse in Phnom Penh? Check out shophouses for sale in Phnom Penh now!What are Villas?Villas are houses standing within its own grounds. Villas in Cambodia don't stray too far from this definition as Khmer villas are also detached from other houses and include a yard of its own. Interested buyers might also encounter a further play on these words and hear twin villa and mini villa. These simply mean that the townhouse is semi-detached or smaller, respectively.Khmer villas have yards typically featuring gardens and even trees. The benefit of having a yard space is giving families, especially children and pets, the space is safely play within the security of their property. Villa owners can also use their yards to conveniently park their cars and motorbikes on their property and away from the risks of the busy street. Villas are ideal for buyers/families looking for a quieter, safer, and more private living environment. Some villas in Cambodia even come with swimming pools - a perfect getaway from the hot Cambodian summer right at their backyard!Another upside to owning a villa is that even the smallest villa has plenty of space. There is also a wide array of designs to choose from. These can range anywhere from traditional Khmer, opulent french-inspired styles, to modern refits. Because villas are primarily suited for families/large groups of people, buying villas in more populated (or near commercial) areas present a potential for rental opportunities from family tenants, or a group of shared renters.Are villas susceptible to floods?That depends on where you buy your villa. Be sure to check with the previous owner/seller/neighbors whether or not the area is susceptible to floods during Cambodia's rainy season. It might be wise to prepare for when the downpour arrives if the villa is indeed prone to flooding. However, buyers can use this information to get the villa at a more bargain price.Can foreigners buy villas in Phnom Penh?The simple answer is no. But foreigners may opt to use a nominee structure, similar to a shophouse. But again, doing so will still be a violation against the constitution of the land law in Cambodia. The land law runs across all landed property types and offers no exception.Learn more about buying a villa via nominee structuring. Learn more about different land titles in Cambodia.If I'm Cambodian, should I buy a villa with a hard or soft title?A soft title should be okay if you’re absolutely sure there won’t be any disputes with the villa ownership. But hard titles are the strongest type of proof of ownership. It’s an ownership certificate that’s given by the Land Management and Planning Office (LMAP). It details the information recognized by the cadastral office and the Ministry of Land at a national level. A transfer tax of 4% is usually paid when the property is sold. LMAP titles can also be used to determine exact GPS coordinates of the land plots should anyone dispute the property boundaries/ownership.Check out villas for sale in Phnom Penh now!What are Boreys?Borey is characterized by a group of low-rise residential properties located in a gated community. These includes villas, flats, townhouses, shophouses, and even the occasional condominiums. Borey developments have a variety of properties that cater to both individuals and families. It typically has its own infrastructure and services which includes roads, water, electricity, and waste management. But the biggest selling points of a Borey is its huge space and security. It also generally has a more quiet scene because of of its exclusivity.Boreys are a good option since it has immediate access to all the right infrastructure, such as water, electricity and nearby major roads. Borey communities are secure and feature common areas for families to enjoy. The downside is added costs compared to stand alone properties; there may also be a waiting period before you can move into your new home.Can I buy a Borey home if I’m not a Cambodian citizen?Foreigner nationals are not allowed to buy homes in Boreys because these are predominantly landed properties. Article 8 of the Land Law states that “a foreigner who falsifies national identity to become an owner of land in Cambodia shall be punished as determined under article 251 of this law. Any property bought under these circumstances will be seized as State property without compensation from the State.” Yet, some boreys do have condominium units available with strata titles fully applicable to foreign buyers. Also, foreign buyers could consider buying a borey home that is landed via a Cambodian nominee.Learn more about buying a borey home via nominee structuring. Learn more about different land titles in Cambodia.I’m Cambodian, can I buy a house inside a Borey?Cambodian citizens will be able to purchase landed properties in Borey developments with no issues -- provided they satisfy the legal and financial obligations.What documents should I look for when choosing a new house in a Borey development?Many developments will pass themselves off as Boreys. But these fake projects don’t have the necessary approvals and documentation. They simply call themselves a “Borey” in their marketing drive. Buyers need to check for five (5) important documents to ensure the quality and credibility of the Borey development.These 5 crucial documents are the hard title, company registration, approved master plan, construction license, and Borey License.Hard Title: You have to look at two classifications of hard titles when dealing with Boreys.The first is the hard title for the whole borey development. This is called a master title - and will cover the entire piece of land on which the project sits. The second one should be hard titles that are subdivided for each residential unit included in the borey. These are called individual titles. A legitimate Borey development should be able to produce both of these hard titles to potential buyers. If they can’t show this, don’t put any money down until they do.Development Company Registration: Development companies will need to register themselves to gain approval from the necessary ministries to proceed with construction. However, construction is not always a sign that they’ve been approved. You can ask to see their company registration just to make sure both the project and the developers can proceed legally.Master Plan Approval: The Ministry of Land Management will need to approve the developer’s Master Plan first by the Ministry of Land Management before construction begins. A credible developer will be able to provide you with it or at least show you a copy.Construction License: The construction company then goes through a thorough background check with the Ministry of Land Management. Boreys must have a single registered construction company building the units and infrastructure to ensure consistency and quality throughout the development. Once this has been cleared, the construction company is then given a license.Borey License: The Ministry of Economics and Finance releases the license for the Borey once everything is in order. This means that the developer has satisfied the requirements of the Government in terms of quality, design, sales plans, and documentation.Learn more about buying the right borey home in the ultimate Borey Buyer’s Guide, on Realestate.com.kh.Should I buy in a Borey project with a hard title or a soft title?You have to look at the main hard title first when looking at Borey developments because it’s a large-scale project. Ms. Lay Solida, Lawyer at CBL Law Group, said that:“Borey projects should be legal and recognized by related ministries. The most important thing is that the Borey project has the main hard title.”We still advise Borey buyers to have an individual hard title for their section of the project. An individual hard title for the borey project can be obtained through the appropriate ministries at 4% of the property's price. Once this is obtained, Borey property owners can sleep well that their ownership is secured.Check out Borey homes for sale in Phnom Penh now!What are condos?Condominium units exist within a tower building with many residents. Individual unit owners share ownership of the common areas in a condominium, like recreation rooms, playgrounds, gardens, and courtyards. All are welcome to use the common areas, but the individual condo units remain the private ownership of the residents. Condominiums usually have staff on-site to help manage and assist in the needs of unit owners. They also have security and shared parking areas.Condominiums can be great starter homes. It has a manageable space, with management-run amenities and services. This means low effort and time for upkeep by owners. Generally they are located in the inner city, so they also offer convenience and low travel times for inner city workers. They will generally have a nice view above the city, with fresh air and cooler temperatures. A unit in a condominium is also more private than a stand alone home and will have added security services. Condo units in Phnom Penh are normally quite modern in design and contain western style fixtures and interior layouts. Maintenance fees will however be charged to all residents to manage the common areas. There may also be restrictions in terms of remodelling the unit.  Can foreigners buy a condominium in Cambodia?Foreigners can buy condominium units and gain ownership with a strata title. But they are usually only able to buy in newer condominium developments because developments older than 2010 do not have strata titles yet. They can own up to 70% of the total units in the building. The remaining 30% should be owned by a Cambodian Citizen. The 70% ownership excludes any ownership on units on the ground floor.What is a Strata Title?A law was created back on the 24th of May in 2010 regarding foreign ownership of real properties. This began the issuance of Strata titles. Strata titling basically allows private ownership in co-owned buildings. The conditions are that foreigners are only allowed to own up to 70% of the building, excluding the ground floor. So, this cannot be used to buy a landed house for sale in Phnom Penh. But it’s helpful to know that citizens can benefit from it if they choose to develop a strata-titled property. Strata titles are recognised at the Ministry of Land Management, Urban Planning and Construction - and are as safe as any other hard title in Cambodia.How do I obtain a strata title for a condo in Phnom Penh?Creating a strata title involves the developer’s acquisition of land and obtaining a hard title for it. It is important to note that private unit ownership cannot be directly transferred by way of the original master plan. This can only be done by transferring the collection of the split titles under the ownership and name of the developer.The next step is for the Ministry of Land Management, Urban Planning, and Construction to check the created regulations and practices regarding the insurance and management of the property. Once this is set and approved, a strata title will be released by the department to the developer. This is when the individual titles can already be distributed.The transfer will call for the presentation of personal identification and marital status of the buyer to the Ministry of Land Management, Urban Planning, and Construction. These documents must be in Khmer. The buyer will also need to have their name translated into Khmer because the strata title will be in that language. Buyers can opt to use the services of professional translators and legal assistance to inspect the contract.The title transfer costs 4% of the value of the condo unit. There’s also a public service fee for the issuance of each individual strata title under the buyer’s name.Check out Condos for sale in Phnom Penh now!What information do I need before buying a House for Sale in Phnom Penh?Conducting a title search before you purchase property is always ideal. This will reveal whether there are legal disputes or discrepancies with the land. The next thing you can do is to gather information about the property through a Commune council official.How can I secure myself from frauds or fake companies?The buyer should ask for a copy of the ID of the company’s representative if the seller is a company. A notarized copy of the Ministry of Commerce-issued certificate, power of attorney, and a signed resolution by the board of directors that authorizes the representative to deal with the land office is also needed.What happens when a buyer and seller make a deal?An initial 10% deposit is usually made first. The purchase must then be submitted to the Ministry of Land Management, Urban Planning, and Construction’s district office. This is otherwise known as the Cadastral Office. Both buyer and seller have to make an appearance at the Cadastral Office for the signing and preparation of the required documents.The seller then has to show the original title certificate to the Khan during the deed signing in order to amend it with the new owner’s name.  A down payment of 10% payment is given by the seller after this. The total processing time can range anywhere from 20 to 30 days.What are my tax responsibilities?A 4% Transfer Tax is required by the General Department of Taxation. This process usually takes around 1 day. A transfer tax is only required it there is a hard title in place. Both the buyer and seller must return to the Cadastral Office with the transfer tax receipt. They will need to sign a buying and selling form in front of a local authority. The whole process usually takes around 5 days.A soft title does not incur this tax - however, by dodging this cost you may cause yourself more issues in the future.The certificate of title under the new owner’s name will be released by Municipal Land Office once the Cadastral Office sends all the necessary documents and once 80% of the payment is made by the buyer. The processing time for this step takes around 5 to 21 days.Be aware of scammers!It's important to be aware there are some common real estate scams in Cambodia. Be aware of these when you are searching for a house for sale in Phnom Penh! If anything seems suspicious, seek the advice of an independent real estate agent or lawyer with property law experience.Should I work with a Realtor/Real estate agent when buying a house for sale in Phnom Penh?Cambodia has seen the stabilization of the real estate sector as more security measures are enforced. And this is an important aspect in investment. But since Cambodia is growing rapidly, its policies and enforcement also evolves in a quick succession. This is why working with a realtor is helpful because they are familiar with the ins and outs of the industry. They can offer sound advice and can help you ease your worries on your housing security. They can also give you a good comparison of prices and types of houses to choose from. They also have connections to mortgage professionals who can assist you.Having said that, agents in Cambodia are not all equal - you need to choose the right real estate agent!We hope this information helped! Now it’s time to search for your dream house for sale in Phnom Penh right here on Realestate.com.kh!

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to pay the water bill using the money services of Wing.What are the various ways to pay for a water bill?Well, you have a few options to choose from. You can pay directly through the water supply office or you can pay via the bank or Wing.Can you tell me the process of paying the water bill through Wing?It is important to check whether or not the payment date is still valid. If it’s already expired, the bank or Wing will not accept your payment anymore.In case your payment date is expired, you need to go directly to the office and pay for the bill there. How about the fees associated with using the services of Wing?If your bill is lower than $25, you will be charged $0.25. If you need to pay a bill that’s higher than $25, you will be charged $0.50.When is the water supply cut off?There are two cases why the water is cut off. The first scenario is when there’s damage to the water system such as when a pipe is broken. The second scenario is when you don’t pay the bill. In case the pipe is broken, it will be fixed as soon as possible. If you don’t pay the bill, you are advised to  pay your bill at water supply office.Are there penalties for late payment?You will be fined around $15 on top of the amount that you owe. Then one or two days later, you can use the water again.Find out more about Young Yap property on Realestate.com.kh

Enchan Sreyleak, Sales Consultant of Yong Yap Property, talked to Realestate.com.kh about how to pay the electricity bill using the money services of Wing.What are the various ways to pay for a electricity bill?Well, you have a few options to choose from. You can pay directly through the electricity supply office or you can pay via the bank or Wing.How about the fees associated with using the services of Wing? If your bill is lower than $25, you will be charged $0.25. If you need to pay a bill that’s higher than $25, you will be charged $0.50.Why does the price per kilowatt fluctuate and vary?This happens because our country buys electricity from neighboring countries. So, the authorities follow a standard principle for electricity usage. The lower the kilowatt of electricity used, the lower the price per kilowatt is. The higher the kilowatt of electricity used, the higher the price per kilowatt is.Find out more about Young Yap property on Realestate.com.kh

Probably one of the most dynamic sectors in Cambodia, real estate markets like condominiums can go from huge potential to huge concern in a matter of months. Grant Fitzgerald – Country Manager for Independent Property Services Cambodia – in his interview with Realestate.com.kh, weighs in on the issues surrounding Cambodian real estate.Is There a Looming Oversupply in The Condominium Market in Cambodia?Fitzgerald concurs that the figures released by the media represent a close comparison to projections by market studies. Around 37,000 units will be released in the market by 2020.He mentions that “oversupply of condominiums is definitely a concern, one that has been talked about more and more.” But he also states that in any case, with a good amount of research there is a potential for great return for foreign investors. He explains that much like their company does, developers should focus on rentable units.  Fitzgerald says, “If we cannot rent it, we cannot recommend it.”Fitzgerald qualifies that rentability really comes down to location, design, quality, and a number of other factors. He warns that those that are in the outer areas of Phnom Penh are generally not recommended. Meanwhile, areas like BKK1 and Tonle Bassac have good developments and are easily rented out.Is There Going to be Another Real Estate Crash, Like in 2008?When asked about a potential credit crisis caused by the reported current excessive credit growth in the Cambodian property industry, Fitzgerald validated the concern.He says, “The vast majority of mortgages here use property as collateral. So, I can see how this issue has been raised.” But he was quick to clarify that this isn’t enough to cause a crash. Bank policies remain strict as to what properties are accepted and require around 150 to 200 percent collateral on mortgages.Fitzgerald explains, “There is quite a bit of margin for error. But in the event, if there is a significant drop in prices, I don’t necessarily believe that it would have a significant effect to the property market.” He compares Cambodia banks as being more conservative than banks in America during the global financial crisis.Why Should Foreigners Invest in Cambodia Even with These Threats?Fitzgerald says that there’s always a risk in any market, but Cambodia has seen many foreign investors flock towards them because of the high returns. He states that in comparison to countries like Korea and Singapore where returns only range from 1 to 2 percent, Cambodia’s rate is much higher - at 6 percent. Combine this data with good research, Fitzgerald says that you have a pretty good investment in your hands.Check out IPS properties for sale and rent today!

This is an extract from "Cambodia's Real Estate: A Silent Boom," a book authored by Mr Sovan Nop - Chapter 6; "Borei Market History & Future Forecast".In 1929, the "concept of borei started out as a form of affordable houses" to accommodate families of workers to live near the place where their family members worked (Phnom Penh Post's Borei History…). Borei truly transforms Phnom Penh's landscapes. The development is too quick and too strong. Imagine within two years, huge amounts of parcels of empty land plots located in the middle of nowhere suddenly became developed areas with paved roads, electricity, sewage, and rows and rows of houses.Borei refers to a cluster of low rise residential housing, mostly flats and villas, in a gated community. The Borei market is exploding. It is the flagship of the real estate sector in Cambodia. It is the most popular product in real estate mainly because, culturally, Cambodians prefer to live in buildings which are attached to the land itself. And it provides a sense of peace and security. The "biggest appeal of living in borei townhouse is the security" and "another great factor is the peaceful environment," Sonina Thon -- a resident in Camko City -- reported in the Phnom Penh Post's Borei History: Residential Collective to Gated Community. Borei provides all the lovable criteria that Cambodian home buyers are looking for: home attached to land, security, and a peaceful environment."Cambodia needs 10,000 houses per year and a total of 1,000,000 house from now until 2023," according to the Ministry of Land Management, Urban Planning, and Construction. The demand for new homes is strong and clear. However, the supply of housing is much clearer and stronger.  Every day, headlines in newspapers and TV advertisements grab people’s attention with their "Special Discount" and "Big Promotion". Giant billboards displaying new borei developments are displayed in every main boulevard throughout Phnom Penh. On top of the giant billboard advertisements, borei development advertisement have dominated advertisement spaces in TVs, radios, newspapers, magazines, and even on the sides of public buses. It seems there are endless new borei developments.The Rise of Home Price:Even though there seems to be an endless supply of borei developments, home prices always go up. Since 1993, land and home prices go up. After all, God doesn’t create any more land. The increase in price is due to a combination of factors such as the increase in population, limited urban area, and the inevitable rise of inflation (costs of construction materials and labor). Logically, the price of real estate goes up. For example, "prices for borei homes have increased around 10 to 20 per cent" in 2015, according to a study conducted by World Trust Estate, a well-known real estate company. Home prices in Phnom Penh in general increase 5 to 10 percent on average per year, while land prices on average jump between 10 to 20 per cent annually.The unverified news that people get rich quickly and easily through land and homes are spreading like a virus. Even for the same piece of property which has been on the market for ages and has not been sold, the asking price of that property still goes up year after year. In Cambodia, property owners ask for even higher prices. Even they cannot sell their properties at a lower price years before. This creates a herding mentality which perpetuates the demand of even higher prices. For example, if your neighbors is rumored to sell their land for $500,000, the owners of surrounding areas will ask for the same or even a higher price without even considering the size or location of the land. In Cambodia, the asking price, especially for land, seem to go beyond the "market value" which is described in the Red Book -- professional valuation standards -- of the Royal Institution Chartered Surveyors as "the estimated amount for which an asset or liability should exchange between a willing buyer and a willing seller in an arm's length transaction after proper marketing and where the parties had each acted knowledgeably, prudently, and without compulsion." Despite all of that, people are still willing to pay more. Cambodia's real estate, obviously, is booming.Home Loans:Of course, potential buyers still need to have a lot money to buy a house. Some people turn to banks for home loans. In terms of required documents, bank borrowers have to go through a stricter process and have to submit all of the important documents such as proofs of monthly income, letter of employments, proofs of monthly or yearly taxation, and a valid government-issued identity such as an ID or Passport.  Through banks, potential home buyers are required to have 30 per cent at minimum of the value of the home. They are welcome to borrow up to the remaining 70 per cent. For instance, if a home is valued at $100,000, potential buyers need to gather $30,000 on their own and can borrow the remaining $70,000 from the bank. This is considered as a good requirement since Cambodia's housing market and economy are considered riskier than that of developed countries. To compensate for higher risks, banks demand higher initial deposit and even higher interest, between 9 to 13 per cent annually. Most people are turned down by the banks, while other potential borrowers find other ways to finance their homes. There is an easier and simpler way to get home loans. Borei developers are willing to step in and act as bankers for those who are interested in living in their borei developments.  Easier Home Loans:The house price in boreis has not gotten cheaper. However, the buying process, such as payment plans and required documents, has gone a lot easier. Mortgages from borei developers are a lot easier to obtain and require less down payment and less paperwork. For many people who are not qualified for bank mortgages, they turn to borei developers to finance their dream homes. This is an easier way to get a home loan. Borei developers are more than happy to step in to fill the gap. Potential homeowners can borrow directly from borei developments. In this way, borei developers are both sellers and bankers. The only restriction is buyers need to buy their homes from the same developers who finance their mortgage. Potential buyers cannot borrow money from one developer and buy property from a different developer.  Potential buyers don't need to have proof of income whatsoever. The one and only required official document is Cambodian National Identity. The initial down payment has been lowered significantly.Two giant borei developers such as Borei Piphup Thmey and Borei Peng Houth lowered their required down payment to 10 per cent. On some special occasions, the initial down payment is lowered to only 1 per cent or even nothing at all. In this special occasion, one needs only a Cambodian National ID to buy a home and a small amount of security deposit, between $500 and $2,000 to sign a Sales and Purchase Agreement which stipulates how much buyers will pay for monthly payment, such as $625 per month, for a certain period of time. Maybe 15 years. The same contract which also stipulates that the house which buyers purchased will be completed and ready to be handed over in the near future, maybe in the next 18 months. In a sense, most easy home loans are applied to only houses which have not built yet. On top of that, in case that home buyers miss their monthly payments as written in contracts, borei developers have the right to take back their houses and resell them on the open market. The same contract that buyers signed also states that buyers had agreed to put their home's title as collaterals. In the event that buyers didn't fulfill their agreements such as making monthly payments on time, Borei developers have the legal right to sell those houses back on the open market.10 Million Cambodians Need Homes:Most Cambodian home buyers can be separated into two groups: the first time home buyers and existing homeowners. The first time home buyers, mostly, are people who soon or recently got married and never owned a home before, while the existing homeowners, obviously, already have owned a home. Existing homeowners are looking to buy a second or third home merely for investment purpose only. The first time home buyers are in much stronger need to buy a home. And the good news is Cambodia has around 10 million who never owned a home before. These new 10 million people will fuel Cambodia's real estate boom for the next 20 years.Ten million Cambodians are under the age of 29, and most 29-year-olds have never owned their home before. Ten million Cambodians are first-time home buyers. "Cambodia has around 5 million young people between 15 and 25 years old," confirmed Samdech Techo Hun Sen, Prime Minister of Cambodia, during the closing ceremony of the 5th University Scholars Leadership Symposium 2014. The other 5 million Cambodians, about 31% of the whole population, are between the ages zero to 14, claimed the Central Intelligence Agency (CIA). These 10 million prospective clients will perpetuate Cambodia's real estate boom in the near future. In addition to that, Cambodia's population will continue to boom. Cambodia's population is expected to hit "19 million by 2030", according to the 2015 Revision of World Population Prospects by the United Nations’ Department of Economic and Social Affairs (DESA). Which means 4 more million are coming. This is a very good condition for borei developments. There are 5 million people currently at the age of needing to buy a home, and 5 more million will reach the age of getting married and will need to buy a home, and 4 more million will arrive in 2030.No wonder the borei market is exploding. The current boom is not enough to satisfy the new 14 million people who sooner or later will need to buy a home. 14 million people is almost equivalent to the entire current (15 millions) population. What an exciting period for real estate development. Almost an entire population will need to buy a home.Find the best real estate news on Realestate.com.kh

The current real estate market is experiencing significant growth — particularly in major business district centers in the city. There’s also a growing interest for land and residential markets in suburbs. Among this growth, Chroy Changvar new development along National Road No. 6A is increasing as 2017 dawns.Chroy Changvar is climbing the market land price index as a result of the rapid development growth in the area. Prices for land in this area are rising faster than most areas of the city, as developers seek tracts of land here for large scale projects. This has attracted millions in investment from high-scale development companies for residential projects on hundreds of hectares of land in the area.Upcoming Chroy Changvar New Development Projects Along National Road No.6A:Chroy Changva is now a hotspot for high quality developments like the High Land Development Project that comes with a land area of 120 hectares; The Flora Development Project with 150 hectares; the LYP Development Project with 100 hectares; the Mekong Royal Development Project with 13 hectares; the Borey Peng Houth Development Project and the Chroy Changvar City Development Project that totals to 307.3 hectares, a satellite city project by OCIC.And recently, Orkide Villa inaugurated its third project at the Chroy Changvar area, along the national highway No. 6A. The Botanic City project has a land size of 140 hectares and is 7 kilometers away from Chroy Changvars bridge connecting the area to central Phnom Penh.The municipal has also just revealed a plan to build a new bridge across the Tonle Sap river – connecting the West Tonle Sap Riverbank and Kilometer No.6 to the East Riverbank, linked directly to the OCIC Chroy Changvar City Development Project area.All these projects will serve both local and international residents with mixed-use developments like commercial areas, businesses, offices, serviced apartments, condos, gated borey communities,  restaurants, sports areas, modern and eco-friendly industrial parks, shopping centers, markets, etc.Ms. Chev Sokhun, marketing manager of The Mekong Royal, said that “seeing as Phnom Penh has expanded, residential needs is also growing day by day. Therefore, we decided to start a project in this area.”She continues to say that they chose this area because there are rivers surrounding it, with fresh air and more space for residents. Chroy Changvar offers The Mekong Royal a chance to build a uniquely green focused development. It’s proximity to the National Highway also allows connections to other provinces easily.Mr. Cheng Mony – a customer who bought a hybrid villa at The Flora project in Chroy Changvar –  said, "I want to live in this area because it has a big road, no traffic jams - which is different from the central city. And I’m also interested in new developments here. I see several large projects that have started in this area. I think the future will be very attractive and we can expect good growth here for both lifestyle and return on my investment."What are the successful Chroy Changvar New Development projects  so far?These Chroy Changvar New Development projects have been completed totally, and have been well sold and occupied. Successful projects are ones that have been considered to have a good design, marketing strategy, sales, quality, and turnover -- making them good investments as well in terms of investment return for developers and a good quality of life for residents. Advisor of VTrust Appraisal, Mr. In Sitha, said there were successful investment projects in the area before. Those include the Borey Sopheak Mongkol, Borey Chinatown, Borey New World, Mekong View Condo,  the Mekong Garden Condo, and many more. Those projects was already sold and now being living by residents.What is the potential in this area in the future?Mr. In Sitha, said that Chroy Changva is like a peninsular. It is geographically good for living in because it’s lined up alongside rivers, a smog-free place and and an eco-friendly natural environment.  He adds that infrastructural and transit systems have improved which makes it more convenient to commute for residents. Price of land in this area is still steep but offers more possibilities for developers to invest. Land prices are pretty high on the main road area. The current land prices also increased by half compared to 2 or 3 years ago. Sitha also said that “because of a potentially big investment to transform the area into a major commercial hub, there are also more projects diverting their direction there.” For now, no matter how small or how large the projects are, they can find success because there are customers at all levels. Local customers will gain satisfaction from a local lifestyle by choosing a flat or borey. And the high-end customers or foreigners can choose a modern lifestyle by living in a condo.Mr. Chrek Soknim, CEO of Century 21 Mekong, said Prek Leap, Chroy Changva is a good place for residential development. He adds that there are currently more people moving into the area and that housing developments in the area are very successful.All Property for Rent in Chroy ChangvaBuy Property in Chroy Changva

Ancient times have seen the rise and fall of numerous Kingdoms. And Cambodia has stood through all of these times. This feat has been immortalized through the establishment of the Royal Palace in the 1860s, which remains as the residence of Cambodia’s royalty.   But another royal residence is now within reach of the people of​​​ Cambodia. Yet, unlike the Royal Palace, the Imperial Crown Condominium will feature decadent Baroque architecture and furnishings to make your home feel like your own Kingdom.... The History of Baroque Architecture and Design:Baroque was a loosely used term in the late 16th century to describe an artistic style which focused on the finer details of an art piece. This was eventually translated into the realm of architecture to reflect religious victories and power in Italy. It evolved into secular expression in the middle of the 17th century as it spread throughout France and Europe. This style of architecture was commonly used when constructing grand palaces across Europe and eventually into flowed into the design of opulent chateaus across France.Baroque architecture in modern times refers to design that encapsulates the elegance and detailed architecture of Europe collectively. It can be easily identified with its usage of richly sculpted surfaces to create three-dimensional features, and a tapestry of textures and variation - down to the smallest details.   Baroque architecture can be classified into four periods. Early Baroque refers to the years 1600 to 1625. High Baroque refers to the years 1625 to 1675. Late Baroque refers to the years 1675 to 1725. Finally, Rococo refers to the Baroque architecture from 1725 to 1800.The Imperial Crown Condominium will feature a modern take on the early Baroque period style of design.The Crowning Glory of Phnom Penh:The Imperial Crown Condominium will do more than just decorate the cityscape of Phnom Penh with its elegant and artistic architecture. It will also accentuate and complement the surrounding establishments. Strategically located at Street 360 of BKK1, Imperial Crown is situated in the most valuable residential area of the country.  The charm of Imperial Crown is not all external though. The 161-unit development also features opulent Baroque styled interiors, incorporating the highest grade materials and brands such as Bauformat, Teka, Rinnai, Laufen and Steinberg. It will also utilize handmade carbon fiber doors that have been imported from Taiwan and Italy. Genuine silver painted 50-year-old Mahogany furniture will also be a staple in each of the units. This attention to detail within Imperial Crown falls perfectly in line with the grand Baroque tradition.Want to Live the Royal Life?Imperial Crown Condominium boasts high quality construction and timeless aesthetics designed to be passed on from one generation to the next. Visit the showroom in BKK1 today to experience a new standard of living in Cambodia.Find out more about Imperial Crown Condominium!

Cambodia as an emerging market has placed great importance into building quality infrastructure. This is evidence by the many existing friendship bridges and road projects that are currently underway.This is a key consideration for investors, according to Marc Townsend – Managing Director of CBRE Cambodia and Vietnam – as stated in his recent presentation on the topic “Is Cambodia’s Residential Market a Target For Investment?”Shifting from Agriculture:Slowly but surely Cambodia has dug a little deeper into infrastructural improvements in recent years, compared to a policy that primarily focused on agricultural development in the past.Around 67 percent of the $4.6 billion investments in 2015 came from the infrastructure sector. According to Townsend, infrastructure goes beyond what we normally think about infrastructure. He says, “It’s not just being able to get from A to B quicker, being able to move around faster, get goods and services quicker, logistics quicker. But it’s also the trickle down effect of those salaries that are being paid – not particularly big salaries being paid to construction workers but also to the entrepreneurs and the contractors and the subcontractors and all the people that are buying the cement and other products that go into the infrastructure.”He explains that even with the great success of past infrastructure projects, “Cambodia needs probably ten years of infrastructure being the most important sector.” He adds, “Obviously, the road from here to Kep doesn’t get any safer, doesn’t get any wider, doesn’t get any better lit.”Foreign Direct Investment:Townsend mentions that “it’s important to see where we’ve come from, where the FDI numbers have come from, and where they’re going to.” Cambodia’s FDI comes from countries like Canada, Korea, Thailand, Vietnam, Japan, Malaysia, Singapore, and the UK. But probably the biggest FDI contributions trace back to China. Their investments in 2015 totaled 60.6 percent out of the $1.4 billion that were placed in the country.Townsend mentions that China’s contributions had been so great that “it’s almost impossible to find an article that talks about Cambodia without at least three paragraphs on China.”Around $2 billion worth of infrastructure was also funded through China’s concessional loans. This includes the Four-Lane Express Way between Phnom Penh and Sihanoukville, the National Highway 11 which connects Preyveng to Kampong Cham, a bridge crossing the Mekong River from Steung Trang to Kruoch Chmar in Kampong Cham.Other upcoming infrastructure projects will include the Sak Sampov Bridge, National Road 21a, National Road 58, Koh Thom Bridge, National Road 55, and the Chrey Thom Bridge. These projects are due to be completed anywhere between the next three years.Smooth Landing:Townsend also explains that more infrastructure means that “it will open up more land. You have had, in the last three to five years, a huge run up in land prices both in the CBD and around the CBD. But obviously, as ring road structures and bridges go in around the city, additional land becomes available. And hopefully, there’s an ability for price per square meter to stay stable for longer.”The role of infrastructure is taking its root in the Cambodian market. Townsend says that it has both its good and its bad effects. Cambodia has the ability to prosper if it takes the right strategy in utilizing these investments and infrastructures to its advantage.Find out more about development news in Cambodia on Realestate.com.kh!

The past two decades alone have seen monumental changes in the different aspects of Cambodian economy and society. One of the sectors that have benefited from all these changes is the real estate market. CBRE Cambodia states that “the global value of commercial real estate investment transactions stayed above $200 billion in Q3 2016, suggesting that the market has stabilized after a drop in transactions at the start of the year.”Marc Townsend –Managing Director of CBRE Cambodia and Vietnam – discusses some of the factors affecting the market’s growth in his presentation on “Is Cambodia’s Residential Market a Target for Investment?”Demographics:Demographics say a lot about any potential behavior changes in the Real Estate market. Townsend says that Cambodia does not have a greying population too. He explains that “as a residential developer, this is an eye-watering opportunity.” He adds, “Cambodia is the least urban population. That is going to change. And obviously, once people have graduated from the universities in Phnom Penh, they’re not going to go back to planting rice in the fields. There are 53 universities in Hanoi, I think there are 65 in Ho Chi Minh. And I’m sure the kids that come from the Delta will never go back to the Delta. And again, this will happen here. And obviously, for those of you who are residential developers, that is your target market at the appropriate price, at the appropriate location in the years to come.” He also says that higher expenditure growth is a good omen for developers.Foreign Developers and Investments:Townsend talked about an upcoming investment surge as well. He jokes, “I choked over my bacon this morning when I read these numbers and I’m assuming that they’re well researched.” He explains that there’s an estimated “7.6 billion dollars coming into real estate in Q3. That is a huge number.” He also said that local developers were initially at the forefront of the real estate sector. This has changed significantly throughout the years. He said that “the market has always been dominated by Cambodian developers. But then as it gets bigger, and wider, and deeper, and includes other cities and other types of property, Taiwanese, South Korean, Malaysian, Singaporean, and now, obviously, Chinese developers get involved as well.”Infrastructure and Environment:Townsend explains that traffic is a big problem in Cambodia and it can take its hold on the market. He said that “it’s all very well for land to be acquired and projects to be built. It’s really depending on the infrastructure.” He recalls having to travel around an hour from a nearby area to the airport.  He says that “the reality is that is what’s going to be your life for the next five to ten years before they start to really join up the underpasses and the overpasses. An underpass or overpass takes, what, a year and a half to build. It screws the traffic up for a while. And that’s life in the city that’s growing with a population that will probably double in the next five years.”He adds that Cambodia is fortunate to only be dealing with traffic and not pollution too. He warns that “For the moment though, you’ve just got traffic to cope with and not pollution. It will come as your industries start to change.”Learn more about the Cambodia investment climate in our in depth guides!

Despite the huge growth in the  Cambodia real estate industry, there are still many operators that are conducting real estate scams and misinformation for a quick profit.Given the loose regulation of the industry, and the mixed standard of agent ethics, many of these scams do not come to light until it is too late. If you are not wary of these types of scams and misrepresentations, it could damage you financially.  Here is a list of the most common scams in the market, thanks to Realestate.com.kh. Keep these common real estate scams in mind when you are searching for property from both private sellers and agents in Cambodia, and protect yourself and your property assets. If you ever think you might be getting scammed, seek professional legal advice!The Double Title Scam:Properties in Cambodia come with soft titles and hard titles. Sometimes a property may have both. This scam involves an owner selling the house to two buyers. One buyer gets the soft title and the other gets the hard title. The person with the soft title loses the house because soft titles are only recognized in the local government, while a hard title is recognized at a national level. There has also been cases of multiple titles being issues, or forged - and sellers selling the same property to multiple people. There is a possibility that the buyer with the hard title is involved in the scam, but that is not always the case.You can avoid this scenario by making an inquiry with the Ministry of Land Management, Urban Planning and Construction and the local government office managing property registration. Get a copy of the title from the seller and check it against official records.Another safety precaution is to check whether the neighbors have hard titles. If they do, this means that the government has already titled the area. Buying a soft title in a place where most neighbors have hard titles is not advisable.Hidden Land Disputes:Having a soft or hard title in this scam is hardly relevant. This scam involves the property standing on a land with an ongoing dispute. Talking to neighbors usually reveals this issue. But you should also conduct a title search through a commune council official or the Ministry of Land just to be on the safe side. A professional real estate agent will do this on your behalf, or a lawyer with experience in property transactions.Deposit Disappearance Act:This scam is done by a fake owner. A buyer is asked to pay a deposit to secure the property. The seller then disappears after receiving the deposit. You may opt to pass the deposit through a reliable third party or an intermediary escrow bank account until everything is settled to protect yourself from this.False owner:This scam involves someone pretending to be the owner of a property. These properties are mostly vacant properties. What you can do is ask or have someone ask the neighbors and village chief about the property and its history and owners. Then cross-check whether there are discrepancies with their stories and the seller’s story. Again, a title check is crucial - if the owner can’t produce the title, something is wrong. Go to the relevant authority and find out whether or not they are the real owner before you give them any money.Hidden House Lease:There are instances where a house has a fully-paid long term lease. It could also be registered as a separate entity from the land. It may also have rooms sold that utilized soft titles. This is a very complicated situation and should be approached with caution. A title search should reveal the facts. Hard titles should have all the necessary details.You should seek help from local authorities if there’s just a soft title in place. As a preliminary check, note if there are rooms inside the property that the seller cannot open. If they intend to sell the house, they must be willing to force the door open or should have the key to open it.Hidden Damage:One of the reasons people sell their properties at a lower cost is because there are damages you may not be able to see. Some of them are not really visible until after you’ve made the purchase and started moving in. It’s advisable that you bring an expert with you who can check the plumbing, electricity, and the structural strength of the property before you put any money down for it.Flooding area:“No flooding” seems to be one of the selling points in property listings. Sellers will advertise it being in a flood free area even when it’s not. This can be detrimental once the rains come pouring in. One of the things you can check is whether there are flood lines; that is, where the lower half of a wall is darker. You can also ask around on forums or to neighbours in the area whether it really is a flood-free zone.Pre-selling Scam:This is when a so-called developer advertises a new project and collects money that they say they’re going to use for construction, and then they suddenly vanish into thin air. This might be a landed housing project, a borey project, a plot land venture or a condo development.This can be avoided by doing a thorough background check on the developer’s previous projects. Trusted developers usually already have a good track record. Note, this doesn’t necessarily mean that new developers are scammers.You can also try looking for news articles regarding the development project from major and trusted publications. They mostly indicate prior achievements by the developer and whether it’s been approved or not. Take note though, positive media coverage should not be relied upon solely - as it is not full proof.You can verify with the involved ministries as well – such as the Ministry of Land Management, Urban Planning, and Construction – if there are any approvals and certifications in place for the developer. They should have a company license for their development company. They should also have a master hard title for the land on which they are developing, a license for the development including a master plan of the full development from start to finish, and they should have a construction license. If the developer won’t present these things when asked, this is a clear warning sign. If you can’t buy with a hard title, or a strata title for high rise units, this is a clear warning sign.Extension Scam:These real estate scams involve declaring a property larger than it actually is and then selling it. The seller might say the property size is at 6x16 when it’s only 4x10. Buying in this condition sets you up to potentially get part of your house demolished in the future. Sometimes the owner will be aware of the issue, and sometimes they won’t - so this isn’t always a deliberate scam.Checking the title at the relevant authority for these sizes will clarify this situation. Properties with an LMAP title have had the borders defined and GPS coordinates prescribed. These are the safest titles, and they can be executed at cost. The additional cost, however, will guarantee you are buying exactly what you think you are.Working in Tandem:These type of real estate scams involve two entities or people working together to increase a property price. One person buys undeveloped land and the second person announces a new development nearby. The development usually doesn’t specify a specific location. The other person then sells the undeveloped land at a higher price. They then both split the profit. Nothing is ever built after that.Avoiding this is easier than the other scams because big developments need the approval of several ministries and are undertaken by companies with an established portfolio. Scammers usually do not also have physical offices. Again, always check if there are any approvals and certifications in place for the developer. They should have a company license for their development company. They should also have a master hard title for the land on which they are developing, a license for the development including a master plan of the full development from start to finish, and they should have a construction license. If the developer won’t present these things when asked, this is a clear warning sign.Don’t let these scams scare you too much - just be aware…Buying property in Cambodia can be beneficial if you do it right. A trusted real estate agent is a great start if they understand the transaction process and the market tricks well - but even some agents may not be working in your best interest. If you are concerned that you are being scammed, seek legal advice before you put any money down!Check out articles, news, and views related to real estate law on Realestate.com.khtoday!Looking for real estate for rent in Cambodia or real estate for sale in Cambodia?

The chaos of the city can be suffocating at times. That is why One Park Condominium is well located in the newly developed Phnom Penh City Center township - where you can not only breathe better but also live better. Wide roads and sophisticated water, electricity and town planning infrastructure sets the newest district of Phnom Penh apart from the rest.As issues of congestion, flooding and lack of greenspace plague investor confidence in other areas of the city, One Park offers a unique prospect to both home buyers and forward-thinking investors.Within Phnom Penh City Center, One Park will be a mixed-use development covering 7.9 hectares of land, a firm base for 2.5 million square feet of floor area with the units of the project.Phnom Penh City Center is situated adjacent to the Prime Minister’s office along Russian Boulevard, just minutes from Cambodia primary central business district. It’s also just 15 minutes away from the Phnom Penh International Airport.Ready to Occupy Soon:One Park will include a collection of shophouses which form an encompassing ring around the entire development. Within the outer shophouses, there will be over 1,600 condominium units.The development will also see the rise of an integrated collection of retail outlets, cafés, restaurants, bars, and an internal plaza boulevard to accommodate families and friends. An international standard school is also set to launch in 2018.The shophouses are expected to reach completion by the end of May 2017 and are now nearly sold out. Condominium units are available for purchase now also. The first phase of condo units are expected to be handed over to buyers by mid-2018, and will range from one to three bedrooms, with penthouse options available.One Park is a project by renowned developer Graticity Real Estate Development; in partnership with leading Singapore-based architectural design firm, DP Architects; and under the professional guidance of the China Construction 2nd Engineer Bureau. This partnership sees over 1,200 workers on site, working 24 hours a day to ensure top of the line construction quality, fidelity with the vision of the developer, and ensuring completion deadlines will be met. The developer is also offering financing to buyers and an investment planning service. These options are available to prospective buyers on request.Merging Influences in Design:One Park is designed will a combination of European and Khmer aesthetics in mind. This is embodied in both the structural and interior design. The importance of inviting nature into the complex is also visible in the final design - with plants, trees, and other greenspaces consistently incorporated into the development. These offer residents a changing scenery as seasons pass and a connection with nature, even within the Phnom Penh CBD. The developers have also intentionally placed and angled all buildings with a North-South orientation to ensure an optimization of shade patterns and wind flow.Residents of One Park Condominium will also enjoy several amenities such as the swimming pool, clubhouse, BBQ area, various gardens, playgrounds, and gyms. One Park will also offer a parking space sufficient to cater to each unit owner. There is 1,600 parking spaces in the form of an internal parking podium. There are also additional off street parking spaces that accompany the shophouse and retail spaces.Learn more today:If you need a breath of fresh air, consider One Park Condominium and guarantee a luxurious, peaceful, and clean lifestyle for you and your family for generations to come.Find out more about One Park Condominium!

As the national elections approach in mid 2018, the real estate industry expects a significant slowdown will soon begin.However, the brunt of this downturn appears likely to fall on the foreign investment market - most specifically the high-end condo market.Bretton Sciaroni, Senior Partner at Sciaroni & Associates recalls “the 2008 election as the most noteworthy.”“By the time the election was over and a new government formed, the international financial crisis had reached Cambodia and the real estate and construction sector essentially crashed, and in my opinion took years to recover,” says Sciaroni.“Gold Tower 42 remains as a reminder of this period, and what happens when over-leveraged foreign investors meet periods of turbulence in Cambodia,” concludes Sciaroni. "However," adds Sciaroni, "the recent boom in property development projects indicates a robust recovery is underway."Seemingly, the market has not suffered as drastically as in 2008 in elections since.“In 2013, property sales stalled for a three month period preceding the election and picked up within just a couple of months of the CPP forming government,” recounts David Murphy, Managing Director at Independent Property Services (IPS) Cambodia.“The political climate creates more uncertainty in the market which reduces investor confidence during that time. We saw this being reflected by lower sale numbers during the previous election campaign,” says Desmond Yap, General Manager of Yong Yap Properties.But, adds Yap, “those who understand the market well, still can capitalize on the situation.”Saraboth Lee, Managing Director at Maxem Property, suggests that “property buyers and sellers generally take stock of their financial situation about 6 months before the start of elections and pause their transactions until they feel a sense of stability again.”  2018, however, presents a “perfect storm” of types in the condo market, as a significant oversupply of units are scheduled to come online in line with the election period.“What’s different from the last election cycle in 2013 is that the local market supply of condos will reach unseen levels in the next few years,” says Lee.Murphy agrees and believes, “prices across the condo market will drop.”“This is because it is predominantly foreign developers funding the condo projects and foreigners buying the end product. Investors will take a wait and see approach,” notes Joe Phelan, Head of Personal Financial Services at Hong Leong Bank.But inner city renters look set to benefit. “Six months prior to the 2013 election - while sales inquires nearly dried up completely -  the rental market remained buoyant throughout,” says Bobby Peoples, Country Manager at Home Connect (Cambodia) Ltd.The combination of an oversupply of condos, in combination with the 2018 election transaction slowdown, will feed into a price drop in the prime rentals market, says Lee.In agreeance, Murphy notes that “the rental market broadly will remain strong as clients hold off on their purchasing decision until the election result is known.”The domestic market, focussed on land and landed properties, however, is likely to show a lesser downturn. “I don’t see there being too many issues with landed properties in Cambodia,” says Joe Phelan, Head of Personal Financial Services at Hong Leong Bank.“Although there was a slowdown in landed property transactions for a few months prior and post election in 2013, property prices still managed to stay relatively stable,” says Phelan.“Cambodians going about small to medium property purchases will likely continue throughout the election period,” continues Phelan.Sciaroni believes that “over the years, as Cambodians have gained greater confidence in the electoral process, the influence of the election period on domestic property transactions has been shorter and shorter.”Home lending, an industry predominantly focussed on the Khmer market, will weaken somewhat. “As real estate activity decreases the home loan market by definition will contract for the short term,” predicts Peoples.   Yet, Phelan notes this slowdown in lending was primarily in relation to the high end property market “for about 3 months before the 2013 election and about another 2 months after.”“In relation to standard properties inside Boreys and more affordable property purchases generally, however,” continues Phelan, “I didn’t see too much of a slowdown at all - with these type of home loan applications continuing to flow as normal.”“Overall, in terms of volume of loans, there was only about a 30% slowdown during this 5 month period, mainly because people were just waiting to see if anything major was going to happen - which it didn’t,” says Phelan.“To maintain international investor confidence through election periods, the government can offset some of the anxiety in the market by improving infrastructure and easing some of the strains of rapid growth, things like reducing traffic gridlock and providing a more stable energy supply,” recommends Lee.By James Whitehead, director of content @ Realestate.com.kh This story was a co-production of the Khmer Times & Realestate.com.kh “Property” Liftout. The section is available every Wednesday in the Khmer Times newspaper, with 10,000 copies distributed across Cambodia every day. Contact us today for advertising opportunities in the Khmer Times/Realestate.com.kh Property liftout. Find latest real estate news on Realestate.com.kh

To introduce ourself to the readers of the Khmer Times: Realestate.com.kh, established in 2009, is the leading website for property buyers and sellers in Cambodia. Our website lets users search for properties online based on location (sangkat & khan), property type and price range. People interested in buying or renting can see photos, special features, floor plans, video walkthroughs, property locations, 360 degree tours, and all other necessary information they need before physically visiting the property. When they are ready to find out more, they can call or email the property seller through our website. We are not real estate agents, and we do not collect commission on sale - we simply connect the buyer and the seller. Realestate.com.kh also works with a variety of banks, insurance companies, law firms and valuers - to offer it's users a one stop property shop. We have over 45,000 property listings for you to browse through, including over 300 new development condo, office and borey projects. People might be surprised by our decision to partner with Khmer Times to co-produce a property liftout in the first place, considering we operate a real estate portal and we are forever championing ‘online’ and ‘digital’ as the future of marketing - which it is, by the way…However, Realestate.com.kh’s mission is to provide the public with the most convenient source of real estate listings in Cambodia and to provide our clients with the best source of real estate sales and rental leads. And this mission extends beyond our online portal to new technologies and marketing initiatives. A prime example of this is our own magazine: the “Cambodia Real Estate” magazine, which we print 15,000 copies quarterly and distribute widely across Cambodia. We know how important it is to market Cambodia and Cambodia real estate overseas, to attract foreign investors, and online is the most effective and the cheapest way to do so. But we also understand that our clients want to attract the local market and expats living in Cambodia. And the reality is, that even though we are experiencing rapid growth in internet penetration in Cambodia, there are still local buyers and renters that are primarily print focused consumers. And if we can provide more value to our clients by co-producing a print publication such as the Khmer Times Property Liftout we will and well, we have. We really do pride ourselves on playing our part in educating the Cambodian real estate market, and the Khmer Times partnership is just another way we can achieve this mission. On top of this the Realestate.com.kh/news blog is the top ranking online news source for real estate infiormation, news and buyers/sellers advice. Whilst at one end of the spectrum your customers want to relax at Browns whilst reading the Khmer Times, those same customers may decide they are interested in viewing properties in more detail online. By providing both channels, we aim  to make that experience as convenient, educative and immersive as possible. In keeping with Realestate.com.kh’s mission, this leads to happier, better-informed customers, higher quality leads and more sales for our clients.We are extremely proud to begin this relationship with the Khmer Times and look forward to becoming Cambodia’s most respected and comprehensive real estate news source - both online and in print.For advertising rates in the Realestate.com.kh/Khmer Times Property Liftout, please call our friendly local team on: +855 017 436 756 / 069 436 756

The end of the year is coming and a new one is about to unfold. And what better way to end 2016 than with a celebration? This is why Phnom Penh City Center partnered with PTG International to host and co-organize the Phnom Penh Year End Festival 2016.Friends and families are invited to gather this coming December 25 to December 31, 2016, to experience fun and entertainment as the year comes to a close. The event will hold a series of activities which will include two large-scale concerts and a series of mini-concerts that will start on the 25th of December.The roster of famous personalities appearing and performing will include Koy, Eva, Sovath, Yuth, Veasna, Krem, Cambodia’s Next Top Models, and Super Dream! In addition to that, festival-goers will also be treated to the F&B and consumer goods exhibition which will happen every 9am to 10pm on the festival dates!The organizers are expecting an attendance of 100,000 local and international visitors.The organizers also aim to use this event as a means to showcase the potential and the diversity of the area. Mr K. Elamaren, Deputy Head of Project Management & Construction at the PPCC – in a recently concluded press conference for the event – explains, “The event provides us with a dynamic platform to interact directly with our stakeholders – current and future – in a very tangible way. The Phnom Penh City Center township offers modern city conveniences through our integrated accessibility, and comprehensive traffic and drainage systems.” This event will showcase the economic potential and the various ongoing developments located in Phnom Penh City Center, right in the heart of the city.The event is sponsored by Cellcard, Angkor Beer, Soukea Restaurant, and Dara Restaurant. Join the party at the Phnom Penh City Center and experience great food, great music, and great company.Check out two exciting projects underway in Phnom Penh City Center: The Edge & Residence 90