Real estate prices in Cambodia are starting to take a hit due to fears of COVID-19, according to a report from CBRE Cambodia. The outbreak, which began in Wuhan, China, back in January 2020, has infected more than 1.2 million people internationally by early April 2020. As the pandemic escalates, the socio-economic effects of COVID-19 are starting to affect the real estate prices across the world, including that of Cambodia’s.According to CBRE, the Ministry of Land Management, Urban Planning and Construction, the first 2 months of 2020 maintained strong growth in approved investment into construction, with the total value of approvals reaching almost US$2 billion across 728 public and private projects, indicating a growth of 47% compared to the same period in 2019. But this has likely slowed down in March 2020 when it became clear that issues caused by the virus will persist for quite some time.Condominium prices face downward trendBy the end of Q1 2020, condominium price per square metre, especially in the high-end and mid-range sectors, have begun showing signs of a possible downward trend, according to CBRE Cambodia. The mid-range market’s price per square metre decreased by 1.5% while the high-end market slipped by 0.5%. On the other hand, the affordable segment of the market increased in price by 0.3%.Condominium rentals are also affected by current market conditions. Rental prices in the high-end and mid-range have slid by 0.4% and 0.6% respectively. The drop in prices is attributed to fears surrounding COVID-19 and new supplies of condominium units coming online in Q1 2020.The CBRE Cambodia report indicates that the effects of COVID-19 on real estate prices, especially in condominiums, are still in its early stages. Prices could still go down if the socio-economic impact of the pandemic persists in Q2 2020.Office space market becomes more competitive for landlordsPhnom Penh’s office space market has seen a massive increase in supply over the past few years. While occupancy remained at a reasonable level since, the uncertainty caused by COVID-19 have severely limited the number of potential tenants - making the market more competitive for landlords.According to CBRE Cambodia, quoting rents flatlined for all office segments in Q1 2020 despite initial upward movements of rents beginning January. The competition has somewhat intensified for landlords, some even offering short-term discounts to attract new tenants.It is expected that the spread between quotes and actual rentals will widen through Q3 2020 as the pandemic continues to escalate. The incoming influx of office spaces is reportedly expected to apply downward pressure on the office market’s rental prices in Q2 and Q3 2020.Retail spaces are the most exposed to COVID-19 economic pressuresAs the Kingdom prepares for what appears to be a peak that’s yet-to-come, segments of the Cambodian population, particularly in the cities have started observing self-quarantines. The government’s cancellation of major public events such as celebrations of the Khmer New Year have severely curtailed the foot traffic normally seen by commercial establishments.According to CBRE’s report, the decrease in foot traffic in Phnom Penh’s retail centres saw a sharp drop due to the spread of COVID-19. Low retail sales have translated to quoted rentals rates being slashed by as much as 10.5%, the sharpest reduction in 4 years.Retailers are advised to explore omnichannel presence to keep afloat amid the pandemic.CBRE expects retail and consumer confidence to pick up later in 2020.Landed property remains resilientAccording to CBRE, despite the recent disruption from the headwinds including the partial withdrawal of EBA preferential trade arrangements with the EU, the COVID-19 outbreak, and external geopolitical and economic uncertainty, Borey developers’ confidence remains strong, signaled by the 14 newly launched projects witnessed during the past 6 months.Quoted prices on these properties also showed no signs of slowing down by the end of Q1 2020. In fact, prices saw increases of up to 2.9% in linked house properties during the same period - with villas reporting price growths of up to 4.3%. This is attributed to the local status of landed property as “safe-haven” for capital, according to the CBRE Cambodia report.CBRE’s report anticipates that Borey sale prices will remain robust throughout the year. If there are any market corrections, household cash-flow distress is expected to be contained by the secondary market, a.k.a resales.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open.For more information, please contact:Nin Kang (Khmer/ English/ Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khArticle by:

Looking at the Chinese real estate market’s experience of the pandemic, the imposed lockdowns essentially froze huge portions of the industry. Recorded property sales plummeted by as much as 80% in big cities when lockdowns were enforced, according to a report from the South China Morning Post.But in early April 2020, community quarantines and travel restrictions were slowly lifted across China. Market observers then began noticing the first signs of recovery. According to a report from the China Real Estate Information Corporation (CRIC), transactions in large cities such as Shenzhen, Fuzhou, Hangzhou, Chengdu, Shantou, Jiaxing, and Yangzhou have started to pick up in volumes surpassing the average transactions made in Q4 of 2019.The CRIC reports that some 175,800 sqm of residential property was sold in Suzhou within a single week back in March 2020. CRIC’s report further reveals that a district in Suzhou sold 170 million USD of property in 1 minute of online sales through property portals similar to Realestate.com.kh.The report from the South China Morning Post attributes the rebound to low prices following the spread of COVID-19 in China, aided by financing assistance, making several projects popular. A Chinese real estate insider also derives the sales to “pent-up” demand from the Spring Festival and the widespread lockdowns.Huaian CityHangzhou CityChengdu CityFuzhou CityInternational property consultancy Knight Frank, however, cautions developers not to get too excited as sales could still face shortfalls up to 40% of year-ago sales figures. According to Martin Wong, an associate director at Knight Frank, “The sales outlook for the whole year depends on the development of the coronavirus condition”.Xie Rui, a property analyst from Golden Credit Rating, projects that nationwide sales of sqm sold will likely be lower by 4.5% by the end of 2020 compared to 2019. Although, this figure assumes that COVID-19 is under control by the end of April.Cambodian real estate showing early signs of slumpCambodia has not experienced a massive outbreak, nor is it facing a nationwide shutdown (as of posting April 9, 2020). Regardless, the pandemic has strained the country’s economy, hardest hit being its tourism, and most recently, its real estate sector.CBRE Cambodia, part of CBRE’s international property consultancy, reported early signs of real estate prices sliding this quarter. The lack of foot traffic and cancellation of public events has especially exposed retail spaces to as much as a 10.5% reduction in rental prices, the highest in 4 years.For residential properties, CBRE’s report showed small but indicative price reductions. Condominiums are now experiencing a decrease from 0.5% to 1.5% in price per sqm on the high-end and mid-range, respectively, in Q1 2020. The affordable end of the market slightly picked up by 0.3% in the same period.Landed property remains resilient as prices of house units increased by up to 4% according to CBRE Cambodia. Landed property in the Kingdom has a status of “safe-haven” for capital, and that perception is faring well in the early parts of this outbreak.While CBRE Cambodia reports that the slump is still in its early stages, market adjustments will likely persist if the pandemic continues to spread at alarming rates throughout the year.Can Cambodia mirror China’s market resurgence?While Cambodia and China are two vastly different economies, examining China’s initial signs of economic recovery helps set expectations for the Kingdom’s real estate market.Prior to the global outbreak in January 2020, the Kingdom’s real estate industry has been strengthened by developers meeting mid-range demands of the local market. According to Knight Frank Cambodia, mid-range residential developments are set to overtake the dominant supply of high-end developments.The demand for affordable property is likely to sustain itself after the outbreak as, much like the Chinese, the Cambodians value property as a safe store of wealth. Delivering more mid-range and affordable properties, aided by financial assistance, maybe the bedrock of any real estate recovery post-COVID-19China's economic activity tanked after the restrictions on movement. While there is no lockdown proclaimed, the outbreak has spurred more precautions in daily economic activity, negatively affecting the projected 7% GDP growth. This change in behavior highlights the need for the industry to adapt to changing circumstances.Many Chinese property seekers have opted to look for property online throughout the lockdown. The Cambodian market may be starting to reflect this behavior as more showrooms close. Any real estate market recovery will definitely be helped along by the sense of euphoria once COVID-19 passes, which further highlights the need of developers and agents to maintain an online presence.A lot is still uncertain in terms of COVID-19 peak and restrictions of movement in the Kingdom. Regardless of how relatively contained the disease is, the government is keeping a close eye on the situation. The only thing certain is that fears of the pandemic have already taken root in Cambodia’s economy and will likely take some time (6 months at the very least) for markets to recover to pre-outbreak activity.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open.For more information, please contact:Nin Kang (Khmer/ English/ Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khArticle by:

(Prime Minister Hun Sen led an inter-ministerial meeting at the Peace Palace / Facebook)Since the global outbreak of COVID-19 in late January, the Cambodian government has been monitoring and has been enacting step-by-step measures to mitigate the economic effects of the pandemic.Back in February, the government announced a 4-month exemption of taxes from hotels and guesthouses in Siem Reap which will be in effect from February to May 2020. The move comes as a response to countries, especially China, restricting travel abroad. According to figures cited by the Khmer Times, the government has indicated that tourists are already down by 60% early in this year.This tax exemption was also extended to tourism-related businesses such as airlines, tour agencies, and other businesses part of the hospitality industry. The 3-month tax waiver will apply from March to May 2020 in order to help businesses keep afloat during the pandemic.The government also decided to waive the 4 percent stamp tax on all residential properties valued less than $70,000 in a move to stimulate the real estate and construction sector amid the epidemic fear of COVID-19. The real estate sector has seen massive growth over the years and is starting to feel the effects of public fears due to the outbreak.Prime Minister Hun Sen, in preparation for COVID-19 outbreaks in the Kingdom, has slashed government expenditures by up to 50% to allocate funds for the Kingdom’s medical and economic needs.On Monday during a press conference at the National Assembly, the Prime Minister appealed to landlords to temporarily reduce rents or allow people to pay their rents on later dates in a bid to help business owners and renters whose incomes are affected by the outbreak.The premier also called for micro-finance institutions to defer microloan payments or slash interest rates altogether to ease the financial burdens on people.He said, “the state will not interfere the affairs between private sector and private sector, but the state would like to appeal to the private sector to understand each other including the bank sector to defer the payment.”As COVID-19 grows as a national concern, the Cambodian government has prepared a $400 million war chest to combat its effects on the economy. According to a Khmer Times report, the Ministry of Health has also set aside $30 million to purchase the necessary medical supplies to support medical frontliners and treat patients infected by the virus.A state of emergency bill is currently being drafted by the government to prevent more people from being infected by the virus in the Kingdom. A formal announcement is expected on April 3, 2020.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by:

(Dr. Aun Pornmoniroth, Minister of the Ministry of Economy and Finance / Khmer Times)The Ministry of Economy & Finance (MEF) issued new building license regulations which amend and extend current laws relating to housing developer licenses, according to DFDL, a Cambodia-based law firm with expertise on real estate & construction.Prakas No. 089 distinguishes between three different types of licenses or permits depending on the activity performed by the real estate developer:Residential development business license/permits;Co-owned building development business license/permitsLand parcel development business license/permits.According to DFDL, Prakas No. 089 expressly provides that these three activities are subject to obtaining a license or permit if the real estate developer performs a business activity for the purpose of a sale or long term lease. However, the prakas refers only to perpetual leases (i.e. a lease with a duration of between 15 and 50 years).The new regulations come after the approval of a new construction law in 2019. The much-awaited law seeks to lay the foundations to meet the rapidly growing construction sector within Cambodia. The law is also expected to reduce, if not outright prevent, the building collapses that occurred in Kep and Sihanoukville.The MEF released a statement warning on-going projects that have not obtained the proper build license will face immediate legal actions. The warning extended to companies/individuals advertising unlicensed projects, especially on social media.“We have monitored property projects that include housing, condominiums and land plot projects. They are often advertised on social media such as on Facebook and some of these projects did not have a licence issued from the Ministry of Economy and Finance.” the MEF said in a statement, according to a report from the Khmer Times.The MEF also appealed to property buyers to properly discern and give due diligence to projects they’re interested in.Realestate.com.kh published a brief guide on buying strata-titled properties in the Kingdom of Cambodia which includes careful due diligence buyers can exercise to ensure the property they’re purchasing is licensed.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by:

(Prime Minister Hun Sen speaks to reporters at a press conference at the National Assembly / Khmer Times)Prime Minister Hun Sen announced today that the government ministries would convene on Friday to draft a state of emergency bill for approval in the National Assembly.According to Khmer Times, the Prime Minister is convening the meeting to tackle the issue of the COVID-19 pandemic. He said in a statement, “Even though our situation has not needed the country to be placed in a state of emergency, we need to prepare for it as we cannot downplay it”.A state of emergency in Cambodia is a government proclamation usually reserved for natural disasters, armed conflict, civil unrest, and in this case, medical epidemic/pandemic. According to a report from the Khmer Times, a state of emergency is a measure that gives more powers to the authorities, but these vary from country to country. They might include the right to impose curfews, prevent demonstrations or mass gatherings, lockdown public spaces or allow police to conduct searches without warrants.The Prime Minister showed awareness of these concerns and he reassured the people that the government will prioritise the rights of the people.The government has already ordered the closure of schools, museums, cinemas, clubs, KTVs, and religious sites to limit the spread of the virus. Most recently, casinos in the Kingdom were ordered to close down starting March 31.He assured factory workers, however, that factories will continue operating along with restaurants, groceries, markets, and small shops in the Kingdom.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

“We are seeing a significant increase in online property searches and inquiry despite the coronavirus outbreak, said Thomas O’Sullivan, CEO of Realestate.com.kh. The viral outbreak, commonly referred to as COVID-19, has infected over 170 countries and has infected over 720,000 people worldwide.Governments and health organizations all over the world have enacted quarantine policies to curb the spread of the virus. As a result, more people are staying and working from home. But this has not stopped buyers in Cambodia from looking for property purchases online.“These buyers are particularly aware of the effects of these policies under current circumstances.” he continues, “More people are catching on as the same measures are likely to be enacted in the Kingdom, and I think that’s one of the things driving the traffic we’ve seen in the past month on Realestate.com.kh”.Overall online traffic to Realestate.com.kh has increased by 20% in the weeks following the spread of COVID-19 to Iran, Europe, and the United States. The surge in traffic also saw inquiries with live-chat support increase by 43% in the same time period. He shared that these converted into an increase of 22% of leads for clients.When asked why people are interested in searching for property online during a pandemic, Mr. O’Sullivan said, “A couple of things: First, more people staying at home means there are more people interfacing with their mobile devices. Second, the impending slowdown of economic activity has prompted some developers to offer lucrative promotions to attract buyers.”He also mentioned that there’s a steady increase in downloads for the real estate portal’s mobile application, indicating that buyers are specifically interested in properties listed on Realestate.com.kh.Realestate.com.kh’s website and mobile application have undergone noticeable updates over the past few months. Back in 2019, a 360 virtual showroom was launched to offer online users a showroom-like experience of being able to move around a particular property they’re looking at.The mobile application also has a Home Finder feature that asks users for specifics of what they’re looking for and sends these inquiries to agents with relevant portfolios.“We know times are going to be tough for conventional ways of real estate marketing. That’s why we’ve implemented these online features to better connect buyers, agents, and developers with each other, regardless of how long this outbreak may last” he said.As for his projections on how long the outbreak will last, he said “Analysts and marketers alike agree we will see shortfalls in the coming 6 to 12 months as more cases of COVID-19 are confirmed.” he continued “But they agree that neither will this be a major nor a permanent situation”.“And I think Cambodian property seekers know that, as well,” he said.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

Realestate.com.kh Livestreaming is a new way for buyers and investors to get the latest news about Cambodia’s real estate market. It is the first dedicated property-focused live stream series on Facebook hosted by a professional team at Realestate.com.kh. Catch the latest market updates every Thursday at 1pm on the Realestate.com.kh Facebook page.Every week, new guests are invited to talk about different topics that provide property seekers, and the larger real estate industry with knowledge on topics ranging from buying homes, choosing agents, applying for a home loan, or even comparisons between different residential properties - and everything in between. This series is all about teaching buyers how to buy their next home or their next big real estate investment.Upcoming Realestate.com.kh LIVE topicsThe first property-focused livestream aired on March 26, 2020. In case you missed that episode, it’s a definite must-watch as it talks about how to buy and sell property on Realestate.com.kh during the COVID-19 outbreak in Cambodia.A series of new topics are already lined up for Realestate.com LIVE! Check out the schedule down below:Dates Topics April 2How to search for property online via realestate.com.kh April 9New realestate.com.kh website & App feature- new PDP + booking April 16How to inquire about the property - Chat - Form  + Home Finder April 23Buying your first home in a Borey or a Condo development April 30Working with agents to find the property you want May 7What to buy: Should I get a Borey or Condo? May 14How to search for rentals on realestate.com.kh May 21Investing in real estate in CambodiaMay 28How to sell my property on realestate.com.kh June 4How to find a serviced apartment on realestate.com.kh All shows will be streamed live at 1 pm on Realestate.com.kh’s Facebook page.Do you have any other topics you want us to talk about? Call us: 092 92 1000 or email: info@realestate.com.khAre you an agent or a developer looking to share your market insights, and getting the word out for your properties and/or services? Take the lead in the industry and get interviewed live as our resource person at the livestream. Share your experience and promote your brand and your properties as our Featured Agent or Developer of the Week. You can even live stream directly from your showroom or office and provide a walkthrough of your property and tell our audiences about the unique features and benefits of your property.Realestate.com.kh LIVE reaches over 11,000 people every stream, and is likely to rise in the coming weeks! Not to mention, Realestate.com.kh reaches over 300,000 users through its website, social media, and email database. Be our next featured agent or developer today!If you’re interested in sharing your brand and knowledge with us, let us know.For more information, please contactKim Vatana (Khmer)+855 12 879413vatana.kim@realestate.com.khAlex Sing (English)+855 15 583420+61 434 644 957 (WhatsApp) Alex.sing@realestate.com.khStay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by:

Separation of work, home, and leisure has been the paradigm of workers and businessmen for decades. But these were only good up to a point: before the rise of work-from-home and the increasingly dreadful traffic that’s become the bane of any developing country.Since then, this thought has shifted to favour convenience, which has been valued as one of the must-haves for a new generation of property buyers. And Prince Huan Yu Center, located in central Phnom Penh, provides that convenience in more ways than one.Prince Huan Yu Center is a mixed-use development consisting of 2 towers and a retail podium offering over 140,000 sqm of residential, commercial, and office space at the crossroads of Phnom Penh's busiest districts. It's a place for property hunters looking for top-class services as it delivers prime location, quality office spaces, and luxury residential living with no compromises.Prime 5A office spacesCambodia attracts billions of dollars worth of new investments from international organisations, and multinational companies every year. And while there are plenty of office spaces in Phnom Penh, Prince Huan Yu Center is one of the few who can close a deal by offering the select 5A offices in the city.5A offices can be seen in a category above a typical Grade A office. Prince Huan Yu has dedicated one of its two towers. These spaces are designed to offer the kind of atmosphere befitting that of any successful company. For big companies, 5A offices in Prince Huan Yu is every office manager’s dream as it covers the essentials of any office while going far and beyond by providing additional conveniences that make it the quintessential example of a modern workspace; a conducive atmosphere where an entire organisation can be at their fullest potential.Much like the big names of Wall Street, Silicon Valley, and central London, Prince Huan Yu’s location is one of the most urbanised areas of Phnom Penh. Companies based here will have a truly prime address that can draw in business by itself.Unmatched location and luxury residencesPrince Huan Yu’s residential tower is more than a symbol of new luxury living in Phnom Penh. Its glass exterior houses almost 1,300 units, one of the most numerous properties in the Kingdom and its developer, Prince Group Holdings, certainly did not hold back on interiors and amenities.From its compact 47sqm to spacious 121sqm units, each one was carefully designed and made for buyers who want the best Phnom Penh has to offer. Families, couples, or even individuals, can definitely find all that they’re looking for and more in Prince Huan Yu.Units exude a simple luxury, nothing flashy, but luxurious regardless. Each room and fixture has a function, with all the other bells-and-whistles complementing one another to create the atmosphere high-end buyers have been looking for. No space is wasted yet every unit offers plenty of room for residents to let their hair down after a long day outside.And if going out isn’t up your alley, Prince Huan Yu itself is home to many amenities anyone can enjoy. Residents can enjoy exclusive access to its high-rise pool and live an active lifestyle through its well-equipped gym. For those looking to relax, a sauna is also available, or for the nature lover, a garden is also present that can be your small oasis of peace amid Phnom Penh’s growing metropolis.Whatever your needs may be, you can never go wrong with Prince Huan Yu Center. Its offices are of international quality, and its residences are the envy of many. Prince Huan Yu Center is set to open in 2022, its units are still available for pre-selling, a stage where you can get the best deal for the best life you can live very soon.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

(Cambodia's real estate sector is expected to slow down as projects face delays due to fears of COVID-19. Supplied)The global outbreak of COVID-19 has spread to over 170 countries and has infected several hundred thousands of people across the world in a matter of weeks. As part of nationwide measures to contain the outbreak, governments have put in place strict quarantine measures to the general public; severely constricting conventional ways of doing business.Cambodia’s real estate industry is starting to feel the strain as new renters and buyers are slow to come by.  Several agencies have suspended operations while others have opted to continue working from home. This outbreak has certainly highlighted the importance of online property marketing in the time of COVID-19.To understand how we got here, let's take a look at the events that transpired in the past few months.Timeline of COVID-19 outbreak in CambodiaDecember 31, 2019 - China reports a cluster of 41 cases of Pneumonia-like sickness in Wuhan. The World Health Organization is alerted by the Chinese authorities of a new and highly-infectious virus spreading in the Hubei province.January 10, 2020 - Ministry of Health deploys scanners and personnel at international airports in Phnom Penh, Siem Reap, and Sihanoukville to detect early symptoms of the novel coronavirus (now known as COVID-19): fever, coughing, and shortness of breath.(The Ministry of Health has deployed several medical scanners and personnel to monitor incoming visitors for symptoms of the novel coronavirus. Photo by Chor Sokunthea from Khmer Times.)January 11, 2020 - China announces the first death from COVID-19 indicating to the world that the disease is fatal.January 13, 2020 - The Cambodian government issues travel warnings to citizens with plans on going to Wuhan or any part of the Hubei province.January 15, 2020 - The first case in Thailand prompts Cambodian border authorities to employ scanners and personnel to monitor land-crossings.January 24, 2020 - Wuhan is officially locked down by Chinese authorities. Cambodian authorities issue high alerts for COVID-19. Those who were able to leave the Hubei province are required to fill out health forms upon arrival in Cambodia.January 28, 2020 - Cambodia confirms its first case from a Chinese tourist visiting Sihanoukville.January 29, 2020 - Government numbers indicate a drop in tourist arrivals amid COVID-19 fears. Several real estate projects in Sihanoukville face delays as fears mount of a wider infection.January 30, 2020 - PM Hun Sen directs the government not to ban flights from China as the government should treat those who are infected.The World Health Organization (WHO) declares COVID-19 as a Public Health Emergency of International Concern (PHEIC). Unlocking much needed medical networks and resources to combat the spread of the virus. Confirmed cases in China amount to 7,700 while reported deaths are at 170.February 1, 2020 - Chinese national who was first diagnosed in COVID-19 in Sihanoukville on the road to recovery; thanking Cambodian doctors for treating him.(Prime Minister Hun Sen shows solidarity with China during the height of the outbreak through a last-minute visit. TVK)February 6, 2020 - Prime Minister Hun Sen flew to Beijing, China to show support during the height of COVID-19 in the country. At the time, confirmed cases in China number at around 28,000 with at least 560 reported deaths.February 7, 2020 - Chinese national, the first case of COVID-19 in Cambodia to be discharged after repeated tests are negative of the virus.February 10, 2020 - First case of COVID-19 in Cambodia officially cured and discharged.February 12, 2020 - MS Westerdam, a European cruise ship is allowed to dock in Sihanoukville after being turned away by 5 countries due to 20 suspected cases on the ship.(Onlookers take sight of MS Westerdam docked in one of Sihanoukville’s ports. Photo by Chor Sokunthea from Khmer Times.)February 13, 2020 - 2,257 passengers (1,455 guests and 802 crew) of MS Westerdam to be tested for COVID-19 infections before being allowed to disembark. Passports were also checked to ensure no one traveled mainland China in the past 14 days. Passengers will then be sent home via charter flights once cleared.WHO chief Tedros Adhanom Ghebreyesus thanks Cambodian authorities for its humanitarian act of allowing MS Westerdam to dock.February 14, 2020 - Tests indicate the first batch of MS Westerdam's passengers cleared of COVID-19 including the 20 who were suspected to be showing symptoms. Passengers were allowed to disembark in Sihanoukville port and begin preparing to fly home to their respective home countries.February 17, 2020 - Some 500 passengers of MS Westerdam have already left the Kingdom for their home countries while those who are still waiting for their test results and still show no symptoms of COVID-19. Once cleared, they will be allowed to leave the Kingdom.Xinhua reports total infections in China totaled to 68,000 cases and 1,600 deaths due to COVID-19.Japan sends medical supplies to Cambodia to help combat the spread of COVID-19February 18, 2020 - One American passenger from MS Westerdam test positive for COVID-19 upon arrival in Malaysia.February 19, 2020 - Testing for the remaining passenger and crew of MS Westerdam starts wrapping up. Once fully cleared, MS Westerdam will sail to the Philippines.February 21, 2020 - American from MS Westerdam who arrived in Malaysia after departing Cambodia is found to be negative of COVID-19 according to the Center for Disease Control (CDC) in the United States. All passengers of MS Westerdam declared "LOW RISK" of COVID-19 by international health authorities.More than 1,000 passengers of MS Westerdam have left the Kingdom since being allowed to dock in Sihanoukville.PM states no diplomatic tension between Cambodia and Malaysia regarding passengers from MS Westerdam testing positive for COVID-19 upon arriving in Malaysia.Vietnamese authorities require Cambodian and Laotian visitors to have a health check-up at the border before being allowed into Vietnam.(MS Westerdam passengers who tested negative for the virus are allowed to leave the cruise ship and prepare to leave for their home countries. AKP)February 23, 2020 - All former Westerdam passengers and crew who were tested for COVID-19 have been found to not have the viral infection, according to Holland America, CDC. AHPPC, WHO, and the Cambodian Health Ministry. MS Westerdam to move ports on the 25th of February.February 26, 2020 - Cambodian government sends 300,000 surgical masks and protective suits to China to help combat the epidemic in the country.COVID-19 has spread to the rest of Asia, the Middle East, Africa, North America, and Europe infecting more than 80,000 people, the majority of which are located in China. This has prompted private companies, and some governments, to implement work-from-home strategies.MS Westerdam leaves Sihanoukville port and sets for the Philippines.The government predicts national GDP growth would not reach 6.5% as previously projected due to the global outbreak of COVID-19March 2, 2020 - The State Secretariat of Civil Aviation has revealed that the outbreak of COVID-19 has resulted in the drop of tourist arrivals in the Kingdom.The WHO has recorded 85,000 confirmed cases and 2,924 deaths across the world, mostly in China.March 5, 2020 - The Health Ministry quarantined 4 people who came in direct contact with a 40-year-old Japanese national, who reportedly tested positive for COVID-19 upon arriving in Japan. The Japanese passenger in question boarded a Vietnam Airlines flight from Siem Reap province to Ho Chi Minh city before taking a connecting flight to Japan on March 3.PM Hun Sen announces government budgets cuts up to 50% to raise public money to combat COVID-19 spread in the Kingdom.(Cambodian authorities track down over 40 Cambodians who came in contact with the Japanese tourist who tested positive for COVID-19. Photo by Fresh News.)March 6, 2020 - 40 other Cambodians in Siem Reap underwent self-quarantine after being identified to having contact with the Japanese national who was positive for COVID-19. Experts from WHO begin working on the ground with local health authorities in Siem Reap to prepare for more COVID-19 cases.March 7, 2020 - Of the 4 people put under mandatory quarantine, one tested positive for COVID-19 becoming the 2nd recorded case of the virus in the Kingdom. The Ministry of Health increased efforts to track down all known persons who came into contact with newly confirmed cases.March 8, 2020 - Global count of confirmed COVID-19 cases reach the 100,000-mark.The Finance Ministry announced that the government is prepared to spend $400 million to combat the spread of the virus through the purchase of relevant medical equipment.March 9, 2020 - PM Hun Sen ordered authorities to cancel Angkor Sankranta festivities scheduled to be held in April during Khmer New Year to prevent the spread of the virus. Schools in Siem Reap begin closing to protect children and their families.March 10, 2020 - As Cambodia braces for new cases, other countries such as South Korea, Italy, and Iran have started seeing confirmed cases rise exponentially. China vows to send help to vulnerable countries, such as Cambodia in tackling COVID-19.March 11, 2020 - 3 more cases of COVID-19 found on Viking Cruise Journey, all of them British nationals who were put into quarantine at Kampong Cham Provincial Referral Hospital. The patients were all aboard the Viking Cruise Journey from Ho Chi Minh city that docked in Phnom Penh on March 7. This brings Cambodia’s total infection to 5 confirmed cases.All of Viking Cruise Journey's 62 passengers and crew have all been put into quarantine and their samples sent for testing in the Pasteur Institute in Phnom Penh.(Medical professionals are on-site after Viking Cruise Journey is docked and quarantined in Kampong Cham. Photo by Chor Sokunthea from Khmer Times.)March 13, 2020 - 1 Canadian and 1 Belgian tourist tested positive for COVID-19 and have been quarantined in the Khmer-Soviet Friendship Hospital. Cambodia now has a total of 7 COVID-19 confirmed cases.March 14, 2020 - Phnom Penh's Canadian International School closed after one of its staff tested positive for COVID-19 after coming back from his trip to Thailand.Rising COVID-19 cases in the Kingdom prompt the Ministry of Education, Youth and Sport to push e-learning classes. Some schools and universities in the country have closed with most considering temporary closure to help prevent the spread of the virus.The private sector in Cambodia began trials of work-from-home schemes as more people opt to self-quarantine to avoid catching the virus. This puts significant strain on conventional ways of doing business in major urban centers like Phnom Penh and Siem Reap. The Cambodian government declares a ban on foreigners coming from Italy, Germany, Spain, France, and the United States for a period of 30 days to prevent the spread of COVID-19. These countries are reported to have confirmed cases numbers in the hundreds - and are growing every day. More work-from-home schemes are adopted by companies and shift their focus to online marketing as an increasing number of their market is stuck at home.March 15, 2020 - 8th case of COVID-19 in Cambodia confirmed from a Frenchman who is now quarantined in the Khmer Soviet Friendship HospitalMarch 16, 2020 - COVID-19 cases in Cambodia rises to 12 after 4 new cases were found. First, is the 4-month old baby of the Frenchman who was diagnosed a day prior. Second, a Cambodian who came from France tested positive for COVID-19. Third, a Cambodian living in Preah Vihear province. Fourth, another Cambodian living in Preah Vihear.The Cambodian government issued an order urging all Cambodian to refrain from traveling abroad, especially to Europe, the US, and Iran to avoid contracting and spreading COVID-19The Ministry of Health has designated 3 Phnom Penh hospitals as COVID-19 treatment centres, including 25 provincial referral centres in anticipation of more confirmed cases. The Pasteur Institute in Phnom Penh is designated as the primary testing center in the Kingdom.(Cambodian Muslims who came from a religious congregation in Malaysia test positive for COVID-19. Photo by Chor Sokunthea from Khmer Times.)March 17, 2020 - COVID-19 cases double to 24 after 11 Cambodians who returned from a religious congregation in Malaysia tested positive for COVID-19. 57 other Cambodians who came from the same trip are being tested.As a result of the massive uptick, KTVs, cinemas, and religious gatherings were ordered to be closed and suspended until the COVID-19 outbreak was contained. This has resulted in more people to stay in their homes and resort to online content for entertainment and interaction.The Health Ministry reported several new cases of COVID-19 in Phnom Penh and five other provinces, bringing the total to 33 cases in the Kingdom. COVID-19 was detected in 17 Cambodian and 3 Malaysian nationals who attended a religious event in Malaysia. Cambodians who tested positive were found in Phnom Penh, Kampong Chhang, Battambang, Kampot, Kep, Tboung Khmum, and Banteay Meanchey. Great Duke hotel is designated as COVID-19 quarantine centre in Phnom Penh with 300 or so beds available.March 18, 2020 - Confirmed cases jump to 35 in Cambodia after 2 Malaysian nationals tested positive for the disease.The government instructs ministries to begin working from home. Other companies follow suit and resort to online marketing to reach their respective markets.The first batch of medical supplies from China arrive in Cambodia. These include test kits, hazmat suits, surgical masks, and other important medical equipment used to combat COVID-19.March 19, 2020 - The Health Ministry announced two more cases of COVID-19 in Tboung Khmum province, bringing the number of infections to 37.Cambodian government sets up the National Commission for Combating COVID-19 as a committee headed by PM Hun Sen and 5 deputy heads to oversee the implementation of the strategic plan for the prevention, control, and management of Covid-19; respond to issues of political, economic and social aspects at all levels.The Chinese embassy has reported that a vaccine is in the works but indicated no timeframe for its commercial availability.WHO reported that over 180,000 people have been infected around the world with almost 7,500 people succumbing to the disease. More quarantines are imposed across Western countries like the United States, Canada, the United Kingdom, France, Germany, Italy, and Spain.(A Cambodian man gets his temperature checked on the road. As more cases are confirmed, Cambodians have become more aware of how infectious the novel coronavirus is. Photo by Siv Channa from Khmer Times.)March 20, 2020 - COVID-19 cases rise to 47 with 10 more cases detected in Phnom Penh, Battambang, and Kandal provinces. China announces the formation of 7 medical experts to be sent to Cambodia within the next few days.March 21, 2020 - COVID-19 cases rise to 53 with 6 more cases found in Phnom Penh, Kampong Cham, Battambang, and Sihanoukville.March 22, 2020 - Second case of COVID-19 recovery expected to be discharged. The patient is a British national from the Viking Cruise Journey.(A team of Chinese medical professionals arrives in Cambodia to help the Kingdom stem the virus outbreak. Photo by Chor Sokunthea from Khmer Times.)March 23, 2020 - Confirmed cases soar from 53 to 86 - 29 Frenchs 4 Cambodians. The largest overnight increase in confirmed cases to-date in Cambodia.Chinese doctors arrive in the Kingdom to help manage the COVID-19 outbreak in Cambodia.March 24, 2020 - 1 more case of COVID-19 is confirmed in Phnom Penh. Total cases are now up to 87.Several real estate projects announce temporary suspensions to their construction to prevent construction workers from getting sick.(Medical personnel wait outside the hotel where infected French tourists are quarantined in Sihanoukville. Photo by the Khmer Times.)March 25, 2020 - 4 more cases of COVID-19 are confirmed from testing conducted on Viking Cruise Journey passengers. Raising total cases in the Kingdom to 91.March 26, 2020 - 5 new cases were discovered in the provinces of Preah Sihanouk, Siem Reap, Kandal, and Phnom Penh. Total cases are now up to 96. While cases have gone up, a total of 10 patients have now recovered from COVID-19 in the Kingdom.More than 3,000 rooms have been reserved across the Kingdom in anticipation of a surge in cases.22 passengers from Viking Cruise Journey tested negative and were flown out by their respective embassies.The government is considering waiving overstay charges for tourists stuck in Cambodia due to flight cancellations amid the virus outbreak.March 31, 2020 - Confirmed COVID-19 cases increase to 109. New cases were confirmed in the cities of Siem Reap, Phnom Penh, and most recently, Poipet in Banteay MeancheyThe Prime Minister has announced that the government will be convening to draft a bill declaring a state of emergency for the Kingdom of Cambodia.April 2, 2020 - Cases in Cambodia increased to 110 as a Cambodian man who came in contact with the French tourists in Sihanoukville was diagnosed with the virus.7 out of the 33 French tourists have recovered from COVID-19, making recoveries in the Kingdom now total to 25.April 7, 2020 - Cases in Cambodia increased to 115 after 3 days of no new infections. Total recovered cases have gone up to 54April 9, 2020 - The Royal Government of Cambodia, mandated a provincial restriction of movement throughout Cambodia. The decree prevents civilians from traveling between provinces. Exempted from this law are medical staff, the Cambodian armed forces, government officials on official business, and transportation of goods.April 13, 2020 - The total number of cases increased by 7 after cases were confirmed in Phnom Penh with the first case of reinfection in Cambodia. Of the new total of 122 confirmed cases, 77 have been cured of COVID-19.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by:

The global outbreak of COVID-19 has caused major shifts in the economic landscape of countries all over the world. As more cases are found every day, more people are convinced to stay at home - a small effort, but one that makes a difference in flattening the curve.But even at home, people still interact, explore, and look at the things they are interested in on the internet; no pandemic is going to stop this generation from going online.For property sellers, agents and developers the only way to find buyers and renters during a global pandemic is via the internet and it's no surprise Realestate.com.kh has recently seen an increase of activity on its platform and mobile app downloads. And here is how property seekers and our clients can take advantage.Surge in online traffic and property inquiriesRealestate.com.kh's traffic data has surged 20% in the past 3 weeks. Record traffic is pouring in from across the country and abroad, visiting listings and accessing the Realestate.com.kh mobile app.Interests in Cambodian developments were also noted as 43% more inquiries about property rentals and sales were received by chat support. This bump in interest could also be attributed to the introduction of the Thai and French versions of Realestate.com.kh and the inclusion of a real-time translation in live-chat, a feature never before seen in any real estate portal in the region.The bump in inquiries has translated into a 22% increase in leads for our clients, a surge in sales that developers and agents need in such market conditions. But Realestate.com.kh’s delivery does not stop with live-chat inquiries.Buyers and renters are in for a great dealWhilst most of the recent spike in activity on Realestate.com.kh has been generated through the local market and expats based in Cambodia, we are also seeing markets such as China, Korea, Singapore and more start to recover from the effects of COVID-19.We are already starting to see an increase in activity and leads from these markets. As buyers know that they will be able to get properties at a great price during this period. Famously, Hong Kong buyers were snapping up great deals during the SARS outbreak. We are seeing a similar effect with international and even local buyers in Cambodia at the moment.Download the app and take advantage of live chat direct with buyers and sellersRealestate.com.kh are still seeing up to 50% of live chat requests from buyers and renters go unanswered! Agents and developers must ensure all salespeople are now actively logged into their accounts on the Realestate.com.kh App.Buyers and sellers (agents) can simply translate messages in their native language, just as you do on WeChat and negotiate with a potential buyer or renter right up until the point of purchase. You can literally sell properties online, right up until the buyer is ready to pay a booking fee.Tips to improve your listing quality on Realestate.com.khReal estate agents and property developers must now view their listings on realestate.com.kh as an online showroom if you want to generate leads and sales during this period. It is proven through in-house and external analysis that better quality listings generate more leads at a better quality.Tip #1 Upload high-quality photos Listings with high-quality photos generate 300% more inquiries than other listings.Tip #2 Upload more than 5 photos Listings with more than 5 photos generate 500% more leads than listings with 3 photos or less.Tip #3 Name your price Listings with no price displayed, or inaccurate pricing results in very low quality leads.Tip #4 Create an interesting property description Sell the benefits of the property and make the buyers or renters imagine themselves living in the property. And make sure you are taking advantage of being able to upload listing descriptions in English, Khmer, Chinese, Thai and French.Tip #5 Accurately pin the location on the map Buyers will trust you more if you are more honest with them. Accurately pinning the property on the map will increase the quality of your leads.Supercharge your business with 360 virtual showrooms and video toursWe noted that developers and agents have begun limiting their staff’s working hours and closing showrooms to limit the risks of infection. To help prevent putting their staff at risk while keeping their units available for public viewing, we extended our 360 virtual showrooms to interested clients to allow their units to be visible to the market without requiring interested buyers to leave their homes.(360 virtual showroom tour of Sky Villa)Realestate.com.kh’s 360 virtual showrooms take panoramic images of developer units which online users can interact with as if they were physically there. This way, developers and agents can keep the interest of buyers without putting anyone in harm.It is exactly the same with video tours of your properties. Video tours allow you to insert voice-overs, text overlay and more. When you are uploading your properties to realetate.com.kh you can simply upload a video to the listing directly from a youtube link.(360 virtual showroom tour of The Peak)Realestate.com.kh exclusive partner marketingThe Realestate.com.kh website and app itself isn’t the only place where developers and agents can have an online presence. We have built a relationship with media outlets across the Globe and Kingdom of Cambodia. This network reaches hundreds of thousands, if not millions, of people every day.Partners such as Khmer Times, CC Times, Fang.com, Panasialife and ThmeyThmey are just a few of the big names we publish our listings to, which simply means more reach for our clients, and enriched content for our partners.For more information, please contact: Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

(Global industries are starting to feel the economic pinch caused by the outbreak of Covid-19. Supplied)In keeping with its promise of transparency, the Cambodian government updated its total number of cases to 37 (as of March 19, 2020). The newly confirmed cases were quickly sent to quarantine with health officials right on the trail of suspected cases across the Kingdom.Cambodia isn’t the only one struggling to contain the disease. Over 160 countries are tackling the outbreak of Covid-19 which has infected over 220,000 individuals internationally and has claimed over 9,000 lives. Governments and healthcare organizations across the world have responded by putting measures in place to curb what appears to be one of the biggest viral outbreaks since SARS in 2003.The global tourist industry has taken a massive hit as a result of these measures. In response to the sharp decline of visitors, the Cambodian government waived the tax requirements of registered hotels and guest houses to help buoy the industry estimated to be directly and indirectly employing close to a million people in the Kingdom.But as the atmosphere of fear festers, other industries are starting to feel the pinch. Cambodia’s real estate industry has been on a bull trend for the past half-decade with one building rising soon after another, a sight any resident of Phnom Penh would attest to. Will this interest in real estate property decline, as well? What does Covid-19 mean for the many who depend on their land to give them hope?(The Cambodian government has stepped up its measures to combat the spread of the virus within the country. Photo by Siv Channa from Khmer Times)Realestate.com.kh reached out to Cambodia’s real estate experts for their take on what’s happening, their predictions, and to learn how best to take advantage of current market conditions.“Yes, there will be shortfalls in the real estate industry but neither will it be a major nor a permanent one,” according to a joint statement from the directors of Yi Fung Real Estate, Edward Lin and Stephen Suen. Both cited investment funds are temporarily on hold but are still looking for a place to park, of which Cambodia still remains as an optimal choice.“Our Prime Minister has also proposed a stimulus package to subsidise the manufacturing industry affected as a result of the EBA withdrawal” welcoming the news that the government has not forgotten about the manufacturing sector during the global outbreak of Covid-19. Both experts, however, cautioned, “We have to be ready for anything as the global economy has to see the road to recovery soon so we avoid a major downturn”.Janusz Drag, CBRE’s Project Manager for Residential Sales, expects activity to slow down within the first 6 months of 2020 with Chinese developers in Cambodia, in particular, hurting the most as the Chinese market is preoccupied with their continued quarantine.“Travel is also limited so most sales will have to be done in China. As such, road-shows and electronic marketing will be more useful than ever before for the Chinese market.,” despite the difficulty, Janusz Drag is hopeful, saying that “the strong relationship between Cambodia and China means that Cambodian projects are well placed to take advantage of the improving situation in China.”(Wuhan's makeshift hospitals have begun discharging patients for the past few weeks. Photo from the South China Morning Post)David Lim, CEO of Alpha Alliance Real Estate, also recognises the global threat coronavirus poses and expects a temporary slowing of real estate activity. But he is confident that the market will go back up once governments and health organizations get a comprehensive grip on the situation.“Everything that goes down, will come back up. I think the Cambodian real estate market will bounce back within the next 12 months.” he continued, “The strong relationship between Cambodia and China is something that will encourage Chinese investors to look to Cambodia once the dust settles”.And a strong relationship China and Cambodia may have. Last February 5, 2020, Prime Minister Hun Sen flew to Beijing to personally offer his support to the Chinese government and its people during the height of the outbreak in China. The Prime Minister also reaffirmed his stance not to evacuate government officials and several Cambodians living in the Hubei region when so many other countries have scrambled to do so.“Cambodia does not abandon its friends,” said the Prime Minister, admonishing those critical of his policy and stating his confidence in the measures taken by Chinese authorities.(Prime Minister Hun Sen and the government has prepared a $400 million war chest to combat the economic effects of the Covid-19 outbreak in the Kingdom. Photo by Siv Channa from Khmer Times)The friendship between the two countries seems to be paying off as raw materials and medical supplies are on their way to Cambodia from China, with more goods expected to be shipped to the Kingdom once China returns to its economic form.When there’s fear on the streets, buy propertyIt’s no secret among real estate insiders that widespread fear affects the property market. As Covid-19 receives more coverage, a lot more people may shift their priorities. It’s in these shifting priorities that speculative markets, such as land prices, may experience stagnation or even a dip in prices. And that’s when the sharks come out.(Even Paris has been placed on a lockdown with only food and medical services allowed on the streets. Photo by Nhim Khal Reasey)“Perfect timing is key to getting a bargain price on premium location,” according to Yi Fung’s directors. “BKK1 has plenty of properties with a shopfront available for lease. It’s a good time to lease if you’re looking in centralised districts for good locations and better terms and conditions,” they suggested.“We’re anticipating a 10% to 20% drop in lease prices due to current events, new supplies of office space, demand from investors, and human capital return,” Yi Fung Real Estate’s statement continued, “The commercial retail sector varies from district to district but it definitely is a tenant’s market with much potential to negotiate.”Janusz Drag from CBRE shares the view that there are opportunities available today to buyers keen on getting good deals. “We have seen strong offerings in Phnom Penh’s prime locations like BKK1 along with great deals on the secondary market. However, the best deals are yet to come as more launches come with more sophisticated designs, more interesting concepts, and even better prices”High property prices have been the elephant-in-the-room when it comes to discussions of real estate in Phnom Penh. The largely high-end market of prominent projects in the city is out-of-reach for a majority of local buyers. David Lim of Alpha Alliance believes this is unhealthy for the real estate market as a whole.“With this coronavirus situation, it may be a good time for investors or prospecting homeowners to consider entering the market to pick up attractive bargain properties at prime locations for sale in the market” he shared.Ny Tinat, CEO of Basac Realty, has been observing the property market and expects prices to dip in the coming weeks and months. “First, there was the ban in online gaming, then there’s the EBA withdrawal. Now, we’re facing the novel coronavirus” he cites as the factors that may grind prices downward - a drop in prices other experts are categorizing as a market correction.“There are 3 areas we’re paying close attention to,” says Ny Tinat. “First, is the area around the new airport site in the south of Phnom Penh particularly in Kandal Stueng, Takhmao, and S’ang. Second is Street 51, a stretch of land suitable for industrial development. Lastly, there’s Arey Ksat, while not completely developed, can be expected to see an increase in interest once the fear of Covid-19 dies down”.On the road to recoveryAt the time of this posting, over 220,000 confirmed cases have been reported by the global health networks tracking the pandemic. However, not often talked about is the almost 85,000 people out of the 220,000 infected who have recovered from Covid-19, a 40% recovery figure.Chinese health officials have also reported a sharp decline in new cases in China after imposing provincial lockdowns and travel restrictions within the country. In Hubei province, the ground-zero of the outbreak, authorities have reported that on March 19, 2020, there have been no new cases for the first time since imposing strict quarantines.(This table shows the infection rate from China (orange), the infection rate from other countries (yellow), and recovery rates internationally (green). Data is from the John Hopkins University Center for Systems Science and Engineering - accessed March 19, 2020)While the earliest ETA for a vaccine is still in 2021, the news of recovery has certainly been welcomed across the world. Many in the real estate sector, as a result, expect the markets to return to pre-outbreak days by Q3 2020 at the earliest while more conservative estimates expect things to bounce back by the end of Q4 2020.“We are expecting economic activity to pick up by Q3 2020 onwards as the Covid-19 pandemic should be behind us by that point and international travel is back on the cards.” according to Janusz Drag. He believes that the mid-range market would revitalize real estate activity saying, “What this period has shown us to date is that the market for mid-range and affordable projects remains pretty robust, there still seems to be good demand and we expect that to heat up as everything gets back on track following this episode.” David Lim expects markets to resurge by Q4 2020. He is also confident that the market will recover on the back of strong demand from the mid-range sector of the market.“Real estate market forecasts, especially for condos, are looking positive due to many reasons. First, most developers are turning their attention to the local Cambodian purchasers rather than relying on foreign buyers.” according to David Lim.According to Knight Frank, the high-end and mid-range condominium unit supply currently stands at 61% and 39%, respectively. As of Q1 and Q2 2019, data from Knight Frank suggest that 60% of new projects launched are classified to be in the mid-range. Based on this data, Knight Frank projects the gap between high-end and mid-range to narrow down to 56% and 44% by 2022/2023.“Second, landed property prices located within the city have increased so high that it’s not affordable to younger Cambodians to have a home and start a family.” David Lim cites the rapid increase in land value within the city centres.(Phnom Penh’s lands have more than doubled in prices per sqm since 2010, leading to a property boom never before seen in the country. Supplied)According to CBRE, the innermost parts (Daun Penh, Chamkarmon, and 7 Makara) of Phnom Penh’s land prices have increased ~150% from 2010 to 2019 with recorded starting prices of $5,000 per sqm. Other districts (Russey Keo, Sen Sok, and Chroy Changvar) in the city have also doubled in prices since the same period with starting prices of a little over $1,000 per sqm. Toul Kork, one of the more recently developed districts, jumped in price from ~$2,000 per sqm in 2017 to ~$3,500 per sqm in 2019.Considering these price tags and people’s shifting priorities, negotiating land prices during this time may give buyers a bit more leverage.“Third, younger generations of Cambodians prefer to stay in the city and commute daily to work due to the poor road infrastructure and bad traffic conditions during peak hours. And fourth, most developers have constructed affordable condos to cater to the high demand in this sector and assisting middle-class Cambodians by loan arrangements to assist their purchase,” says David Lim.(Phnom Penh’s economic activity will slow down but is expected to bounce back in the latter half of 2020. Supplied)The real estate market will likely slowdown in the short-term, but real estate experts agree that this is neither a major nor a permanent crisis that will deter people from exploring opportunities even during a crisis. And while vaccines are still a year off, statistics show that there is an end to the pandemic. It’s all a matter of how alert but not anxious, the general public will be in the coming months.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

Due to the current outbreak of COVID-19 that is currently affecting almost every country in the world, resulting in closing down of schools, businesses, flights, and multiple global events, the management at Realestate.com.kh has decided to move its Home & Lifestyle Expo to August 7th and 8th 2020.Home & Lifestyle Expo 2020 is moved to August 7th and 8thHome & Lifestyle Expo 2020 is the sixth iteration of Realestate.com.kh’s most popular expo series that was originally scheduled to take place on the 24th and 25th of April. However, the management at Realestate.com.kh, as the main organiser, decided to move the event to 7th and 8th of August 2020 in a bid to ensure the safety of everyone involved and mitigate the effects of the virus, according to Mr. Thomas O’Sullivan, Realestate.com.kh CEO.“The decision to move the Home & Lifestyle Expo to a later date has been made based on a duty of care not only to Realestate.com.kh employees, sponsors, exhibitors and partners but also to our attendees, and wider Realestate.com.kh stakeholders. And, although attendee registrations were growing we still couldn’t guarantee a sufficient turnout of people on the day. Global and local measures are changing daily by both the public and private sector in efforts to contain the virus, ultimately it would have been irresponsible for us to proceed with the event for the April dates” said Mr. O’Sullivan.The postponement brings greater value to sponsors and exhibitorsMr. O’Sullivan reaffirmed to the exhibitors that despite the event being moved to a later date, it will still happen and will bring even greater value for exhibitors as now Realestate.com.kh will combine the Home & Lifestyle Expo with the Realestate.com.kh Expo, which typically takes place in October. The Realestate.com.kh Expo is mounted yearly by Realestate.com.kh at Naga World and typically targets mostly overseas investors and affluent local buyers.“We will now combine both our Home & Lifestyle Show and the Naga Show into one super-charged event on 7th and 8th August, giving exhibitors even more value. We will not stop our marketing efforts for the Home & Lifestyle Expo. We will simply continue the marketing with the revised dates,” O’Sullivan said.“In fact, we will be spending close to double the original marketing budget, as we are now doing one event as opposed to two. The marketing campaign has increased from 3 months to 7 months, which will simply result in more Cambodians, expats and international attendees,” he added.The postponement brings greater value to attendeesWhilst combining both events has somewhat of a negative effect on Realestate.com.kh itself, attendees (and exhibitors) can count themselves lucky. Realestate.com.kh can now guarantee an even greater spread of condo and Borey developers to fit all budgets and a greater spread of lifestyle brands, banks, law firms and more.It also means that the ever-popular seminars will be introduced to the August event, which were not previously planned for the April expo.Surge in demand for remaining boothsDespite the current crisis caused by COVID-19, the number of companies signing up to Home & Lifestyle Expo continues to increase.With over 75% of booths for the event already sold out and the Realestate.com.kh Expo at Naga World being combined into the new larger event, Realestate.com.kh expects a surge in demand for the remaining booths from developers and exhibitors who are intending to participate, O’Sullivan said.Although Realestate.com.kh has to pay more for marketing for two events at the same time, it will not require exhibitors who already bought the booths to pay extra costs. However, those who have not yet reserved the booths will have to pay new prices, which have increased by up to 25%, he added.“By combining events, there is even more value to our sponsors & exhibitors in pre-marketing activities and more costs to Realestate.com.kh. Existing exhibitors will not bear any further costs. However, there will be a price increase for new exhibitors as we are anticipating a much larger show with more attractions and visitors,” O’Sullivan said.This event is made possible with great support from our sponsors B2B Cambodia, EZECOM, foodpanda, Lukfook Jewellery Cambodia & FUNNY Water.Cambodia’s leading companies and developers already onboard includeMonet, Borey The Flora, Aristo Developers, CBRE Cambodia, Creed Development Group, Prince Golden Bay, Borey VIP, Prince Huan Yu Real Estate (Cambodia) Group, CAR 4 you bringing LEVDEO, E-GREEN & FOTO Brands and TF Motors (Cambodia) with the brand MG, Pointer Real Estate, Huibang International Real Estate Co.,Ltd, La Vista One, Prince Huan Yu Center, Garden One, Urban Village, Prestige Homes, LL Property Services, Time Square, Borey Eden Garden, E City, The Peninsula Private Residences, TK Smile, JV Parc 21 Residence, The Hexa Condo, LE CONDÉ BKK1, Borey Mongkul Phnom Penh, Union City Development Group Co, Ltd, At Solutions, MZ Design, Urban Living Solutions, Borey Lorn City, Vue Aston, KH Land, Beyond Design, AIMS Cambodia, Modern House 01, Morganford Investment (Cambodia) Co., Ltd, Arakawa Residence, Dara Sakor, Dara Sakor, Camprof Properties, Modern Residence, Tnaot News, Sing Meng Media, Lotus Broadcasting Services and E&A Consultant Co., Ltd,  Media partners includeFresh News, Khmer Times, Fang.com, Thmey Thmey, AmCham, 58.com, Business Cambodia, Property Area Asia, Enjoy Cambodia, The Cambodia China Times, Grep Tech, Jian Hua Daily, Sing Meng, BritCham, Veha, Gold Zone Media, Angkor Today, The Commercial News, Panisia Life, Business Khmer, Nice TV, Sabay, EuroCham, and many more.Register now for express entry!Article by:

Big News! Realestate.com.kh has just released two new languages on its site and app. Now users can browse for properties and engage with agents and developers in Thai & French. The move to add these languages is in recognition of the widening cultural and economic relations Cambodia has with Thailand and France.Thailand and Cambodia’s trade relations have swelled from $6 billion in 2017 to almost $8.5 billion in 2019. The trade between the neighbours mainly consisted of agricultural products, manufacturing equipment, and especially home appliances that meet the Kingdom’s increasing residential development.“The growing trade relations between Thailand and Cambodia is an opportunity for the country’s real estate sector. The government has made it easier for foreign investors to enter the country, and we feel that a Thai language domain of Realestate.com.kh would help further the interest of Thai investors in developing Cambodia’s property market” according to Thomas O’Sullivan, CEO of Realestate.com.kh.France and Cambodia have enjoyed more than a century’s worth of relations. The French government, through the French Development Agency, has contributed more than €400 million to multiple sectors in the Kingdom such as infrastructure development, agriculture, tourism, human resource development, and manufacturing, particularly with garment and textiles. France is also home to multiple generations of Cambodians who largely sought refuge during Cambodia’s civil war period.“France and Cambodia have a long history of cultural exchanges between them, and each has nurtured a healthy community of expatriates within their respective borders. The introduction of French on Realestate.com.kh allows us to serve these communities better such as the French expat community living and working in Cambodia, and the Khmer community in France looking to invest in their home country,” said Thomas O’Sullivan.The introduction of Thai and French has also been integrated with Realestate.com.kh’s real-time translation feature available to everyone who uses the Realestate.com.kh chat function. For the first time, Thai and French speakers can easily communicate with each other seamlessly as messages will automatically be translated into their preferred language.This update has been launched and is live on Realestate.com.kh as of posting time.Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!Article by:

It’s not lost among residents that Phnom Penh’s once tame skyline has grown more imposing over the years. Structures of concrete and steel loom over the city’s pagodas, shophouses, and colonial neighbourhoods as developments rise after another. But in the middle of this rough concrete jungle, a hidden gem symbolising the city’s rise as a regional economic hub can be found.The Elysee by Dara, a residential development by Dara Hotels, is located in the French-inspired suburban area of Diamond Island, widely known as Koh Pich and is designed after the majestic Arc de Triomphe. The Elysee pays homage to the iconic French monument as its surrounding buildings take inspiration from the townhouses and boulevards that make Paris one of the most famous cities today. Concrete shophouses line the vicinity of The Elysee, as well as offices and other commercial spots giving it the proper ambience of a mini-Parisian neighbourhood.Much like its namesake, The Elysee’s residential units feature living spaces fit for a president. Rooms are spacious and fit for families with 2 to 5 bedroom units available. All units are designed to allow residents to get from one room to another seamlessly. Big windows line where there’s a sight to be appreciated, a benefit worth double its value to renters who are now enjoying spectacular views of the Mekong River.Units are fully-equipped with modern furnishings that fulfil every renter’s wish for a comfortable life. Modern conveniences such as Cable TV and Internet WiFi are also available upon turning the key so as not to trouble tenants of applying for a connection. Additional comforts are also offered through regular services such as housekeeping - a bonus to some, but a much welcome benefit to anyone who appreciates the peace of mind.Being cooked up in a nice apartment all day isn’t the vision of most would-be renters, at least, it shouldn’t be. The Elysee’s comforts extend well beyond its spacious rooms. Renters who are looking to stay active by exercising can find the lifestyle they’re looking for in its well-equipped gym. While those who seek to work out a sweat in a more relaxed fashion can lay back and enjoy company or solace in the steam & sauna.But what is a Parisian-style neighbourhood without the staples of a modern city? Koh Pich island lies to the east of central Phnom Penh and is directly connected to the mainland via four bridges. Being situated right along Koh Pich street, The Elysee’s main road access leads directly into the southern bridge entering a crossroads between the de-facto CBD, Daun Penh, versus the quaint-but-developing area of Chamkarmon. Both areas house the city’s most premier attractions and entertainment spots; The Elysee’s renters never go wrong if they want to experience everything Phnom Penh has to offer.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

Chroy Changvar district, a peninsula in the northeast of Phnom Penh and parallels the heart of the downtown connected by the Cambodia-China Friendship Bridge and Cambodia-Japan Friendship Bridge. The district is an oasis hemmed by the Tonle Sap and the Mekong River while not being far away from everything else. A regional plan is currently underway within the district to conserve its distinct ecological features; an endeavour to make Chroy Changvar a unique home to content souls.Several large scale projects such as the OCIC satellite city, large borey developments, and high-rise apartments have opened to welcome more residents into the district. And to make the district’s growing population feel at home, many cafes, restaurants, and other commercial endeavours have popped up to cater to their daily needs. In just 10 years, Chroy Changvar has been transformed from a barren piece of land on the outskirts of Phnom Penh into one of the districts experiencing break-neck speeds of developments, far outpacing other suburbs in Phnom Penh.From business elites to academic leaders, Chroy Changvar has slowly been turning into the home of Cambodia’s finest - mainly thanks to the rapid cultivation of urbanization through tourism, commercial & entertainment developments, and most importantly, education.Phnom Penh’s real estate has largely been driven by the demand for high-end residences, particularly in the busy area of Chamkarmon where high-end mix-used skyscrapers dominate the skyline. Chroy Changvar offers a breath of new opportunities for residents and investors looking to expand into other districts and take advantage of Phnom Penh’s dynamic development.The highlights of Chroy Changvar you may want to know☞ the local branded five-star hotel - Soka Hotel;☞ the first theme zoo - Phnom Penh Safari☞ the first Asia’s top entertainment and the largest waterpark destination - Garden City Water Park☞ a 18-hole golf course in the Phnom Penh Garden City☞ the stadium for Southeast Asian Games 2023☞ the modern age malls like the Marko and the Central☞ the best facilities in Phnom Penh, such as the Sunrise Japan Hospital Phnom Penh, Cambodia University of Technology, the Norton University and many more.If these stunning elements promote Chroy Changvar district as a tourist hub of modern Phnom Penh, then serviced residences like Wealth Mansion are necessary for Chroy Changvar to become a choice residence and eventually develop into a business district.About Wealth Mansion The Wealth Mansion project, started in June 2019, occupies the scenic riverside line of Chroy Changvar. This mixed-used development will be crafted into 45-storeys with a height of 166 meters sitting along a well-connected traffic network. It is close to the new Municipal Hall and the Southeast Asian Games venues. Boeung Kak District, Wat Phnom, the Riverside, and other attractions are within the good view of the project.The contractor is China Construction Third Bureau, a state-owned enterprise. All the teams involved are dedicated to ensure the smooth progress of the project supported by capital strength, technical capabilities, and quality control.With its superior location and meticulous design, the Wealth Mansion ensures that every unit is a dream home that is suitable for buyers and renters alike.Ecology on the outside and elegance on the insideThe design of the Wealth Mansion absorbs elements unique to the Chroy Changvar peninsula, such as the pleasant ambiance and the well-preserved ecology. The Wealth Mansion, set to be an innovative architecture with melded benefits of investment and residence, is designed by Rixing Design, the designer of national pavilions of the World Expo.Accordingly, Wealth Mansion’s architects made good use of natural ventilation and lighting with layouts consisting of a verdant facade, water features, central gardens on each floor, and open corridors. The Wealth Mansion is a comfortable dwelling on minimum energy consumption, thanks to the creation of an independent three-dimensional ecology.Wealth Mansion's smart floor plan enables every resident to have a unique life experience for its reasonable layout, aesthetic design and practical functions. The two-bedroom apartment units' design focuses on bedrooms, kitchens and balconies. The master bedroom comes with an en-suite bathroom. Residents can enjoy a more delicate family living atmosphere.Each apartment is fully furnished with modern equipment, appliances, and other fixtures that make moving in a lot easier.The Wealth Mansion also has a ‘worry-free’ service package for its home-buyers, which allows owners to check on the lease, maintenance, and rental collection of their properties in a timely manner.Facilities and servicesYou will not find any lack of luxurious experiences thanks to plentiful first-class facilities provided by Wealth Mansion. There is a massive parking area with 830 parking spaces designed for convenient driving in and out.A 400-sqm state-of-art fitness centre, 1,000-sqm swimming pool, stylish spa centre, restaurant/café, conference room/multi-function hall and more, will certainly give some highlights and a touch of lavishness to one’s day-to-day life. On top of that, comprehensive services, including 24-hour security, super comfortable lounge room at the lobby, concierge service, and home cleaning service, all make your stay easy and peaceful.Branded property service, more income generatedONYX Group is based in Thailand and signed a contract with the developer of the project to operate the first five-star apartment hotel in the district.ONYX Group is a leading company in hotel management with 50 years of business experience across the Asia-Pacific region with its core enterprise in the hospitality industry focusing on world-class efficiency and oriental etiquette.It is a good example of excellent international operations and professional ethics. In its property management sector, it values transparency and consistently works to develop strategic partnerships with owners. It focuses on the needs and concerns of the property owners as a business driving force and path to success. In addition, ONYX's Shama will operate hotel serviced apartments at the Wealth Mansion.About ShamaShama, who has advanced in serviced apartment management, is one of the leading internationally renowned brands that brings unlimited lifestyle to its customers and partners, with businesses in the Asia Pacific region, including Hong Kong, Shanghai, Guangzhou, Hangzhou, Chengdu, Daqing, Bangkok, Thailand, Melbourne, Australia, and Malaysia.Its achievements have been proved by a numbers rewards, such as the best serviced apartment operator in Asia of Asia Hotel Awards 2012-2018, the best serviced apartment operator of High Flyers Award 2017-2018 by <Hong Kong Business>, and the best luxury serviced apartments in China of the 10th World Luxury Hotel Awards 2016 etc.ONYX offers a wide portfolio of hospitality brands, including the market-leading Amari brand of hotels and resorts, Shama serviced apartments and the midscale OZO hotels, design-oriented hotels YOO Collection and Yoo2, and Breeze Spa. With offices in majorpan-Asian cities such as Bangkok, Shanghai and Melbourne, it provides innovative management solutions across Asia Pacific.Ownership of Wealth Mansion’s apartment comes with a “worry-free” property service package, which allows the owner to follow up the lease and maintenance status of the property, and ensures rental income can be claimed in time.The Wealth Mansion is the confident debut of Everhealth International Investment Development Co., Ltd., to engage in real estate in Phnom Penh with its business philosophy of “to standardize, to maximize, to innovate, to lead”. The contractor is the state-owned enterprise, China Construction Third Bureau, who is dedicated to smooth delivery of the project by technical capabilities and quality control.The average sales price of apartments is $2,200/sqm. It is set to be handed over by the end of 2021. The developer provides a 2-year guarantee of a rental return, and property operations carried out by Shama.With a prime location and ambitious planning, Wealth Mansion is a perfect option for a comfortable, luxurious dream home as well as property appreciation and rental profits that should not to be missed.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

Titan Stone Group, a Hong-Kong based investment firm, held a launch event last March 1 to announce the expansion of its business portfolio in Cambodia. The investment group cited, through a press release, that the fast rise of Cambodia’s economy presented an opportunity to attract more investors in the country.Titan Group announced its expansion in the country through a 4-in-1 inauguration event attended by H.E. Dr. Hun Manet, the Deputy Commander-in-Chief of the Cambodian Royal Armed Forces, along with many dignitaries from Cambodia’s business and financial sectors.Titan Stone Life InsuranceTitan Stone Group launched its Titan Stone Life Insurance with a short-term, high-interest rate saving policy to meet Cambodians’ need for financial planning and life insurance. Titan Stone Life Insurance will have additional packages covering group insurance, medical insurance, and personal accident insurance. With Cambodia’s largely young demographic, insurance will not only guarantee the future of Cambodian families but also give them a tool to manage their wealth.Picasso Sky GardenFollowing the success of Picasso City Garden and KY iCenter, the event formally launched the Picasso Sky Garden as the group’s new residential project in Phnom Penh. The new development adopts a mezzanine architecture concept that creates a multi-purpose space conducive for both living and entrepreneurship; representing an exquisite loft-style home in Phnom Penh.The Picasso Sky Garden adds to Titan Stone’s portfolio of advanced and high-quality projects in Cambodia.Titan Stone Financial TowerThe Titan Stone Financial Tower is a new project offering the first 5A+ office spaces in Cambodia. The new office building will be built with intelligent technology and a 4R green energy concept. The Titan Stone Financial Tower will be built within the Intelligent City Oasis in the heart of Phnom Penh.Titan Stone Special Economic ZoneLocated adjacent to the major ports of Sihanoukville and Kampot, the Titan Stone Special Economic Zone will focus on scientific and technological advancement within the Kingdom. The new SEZ, once fully operational will attract other high-tech industries to move in. The development of the SEZ is expected to introduce new opportunities to learn high-level skills that will benefit Cambodian workers.H.E. Dr. Hun Manet praised and recognised Titan Stone Group’s efforts in investing in Cambodia by bringing in advanced technology and resources from the global markets. Dr. Wea Chilin, Chief Consultant of Titan Stone Group, shared the optimism believing that Cambodia has rich resources, an excellent geographic location, and the freest and open economic policy in Asia.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

Realestate.com.kh kicked off the sixth iteration of its massively popular expo series on Tuesday morning at Lyve Inc Hotel & Residence, pushing the real estate and related industries to new heights with its latest event, the Home & Lifestyle Expo 2020.The Home & Lifestyle Expo series was first launched last year by Realestate.com.kh’s founder Moek Chenda and the company’s CEO Thomas O’Sullivan with the vision of creating an event where buyers secure some of the best deals in real estate, automotive, retail and more- targeting middle to affluent locals and expats based in Cambodia.The first, Home & Lifestyle Expo 2019 was a major success that broke the country’s biggest property sales event ever in Cambodia with a whopping $ 30 million in sales and attracted over 20,000 visitors. Home & Lifestyle Expo 2020 is more than just real estate“After surpassing everyone's expectations last year, we are confident the Home & Lifestyle Expo 2020 will once again be the country’s biggest property & lifestyle event of the year with even more exhibitors, visitors and sales than ever before. We are really excited to bring back the Home & Lifestyle Expo to the Cambodian market, especially to those who are considering purchasing their first homes, investment property, cars, jewelry and more,” said Thomas O’Sullivan, Realestate.com.kh CEO.“Ultimately, our goal is to give Cambodian families an opportunity to get the best deals of the year, and to create a space - or experience of sorts where they can have a great day out together,” Mr Thomas said.“Picture yourselves and your family at an event where you can not only come and buy your first home or investment property, at The Flora for example, but also take part in one of the workshops, speak to the leading schools in Cambodia, entertain the kids in one of the children-friendly zones, have some lunch in the food section powered by foodpanda, buy some exclusive jewellery from Lukfook Jewellery Cambodia and finish the day test driving a potential new car from MG. This event gives any local or international an in-depth overview of what Cambodia has to offer, not only in housing but also in tech, retail, lifestyle and more,” he added.Home & Lifestyle Expo 2020 will be taking place on the 7th and 8th August 2020 at Koh Pich Exhibition Center with each day starting at 10:00 am and finishing at 7:00 pm on Friday to allow people to come after work and 6:00 pm on Saturday.Besides real estate, there will be exhibitors from ancillary businesses including banks, microfinance institutions, design, construction and insurance firms. As well as cars, motorcycles, mobile phones, appliances, furniture, devices, jewellery, sportswear, fashion and more.Better yet, attendees to the Home & Lifestyle Expo 2020 will also have chances to talk with representatives from some of the country’s leading financial providers to find out more regarding loan requirements and procedures for homes, cars and more.Visiting the Home & Lifestyle Expo 2020 is a perfect family day out together and also includes food and drink vendors powered by foodpanda Cambodia as well as fun activities for family and kids to enjoy together such as the bouncy castle and face painting.Realestate.com.kh’s recent acquisition of B2B Cambodia also means that the event will now be opened up to a whole new database of Cambodian and international business professionals looking for services in the Cambodian market including legal, accounting, audit and others as well as products including commercial real estate, loans, cars, high-end retail brands and more.Strategic partners key to making this event possible include: global online food delivery - foodpanda, The Brand of Hong Kong, Sparkling the World, Including Cambodia - Lukfook Jewelry, FUNNY Water, as well as media heavyweights Tnoat News, Khmer Times, Sing Meng Media, Fang.com and Panasia LifeWin big at the Realestate.com.kh Home & Lifestyle 2020Apart from securing the best deals in real estate and other high ticket items, attendees will all go into the draw to win some of the biggest prizes ever seen at similar events, including speakers, phones and merchandise with the biggest winners taking home 100% genuine jewelry, courtesy of Lukfook Cambodia.Sponsors  B2B Cambodia, EZECOM, Lukfook Jewellery Cambodia, Foodpanda & FUNNY Water.Cambodia’s leading companies and developers already onboard Tnaot News, Sing Meng Media, Morganford Investment (Cambodia) Co., Ltd, Urban Village, La Vista One, Garden One, Huibang International Real Estate Co.,Ltd, Prince Huan Yu Real Estate (Cambodia) Group, Creed Development Group, JV Parc 21 Residence, The Peninsula Private Residences, The Hexa Condo, Golden Century, Dara Sakor, E City, Borey VIP, Borey Lorn City, Borey The Flora, Borey Mongkul Phnom Penh, Borey Eden Garden, Aristo Developers, CBRE Cambodia, Pointer Real Estate, LL Property Services,Urban Living Solutions, MZ Design, ACMA Hitachi, Lotus Broadcasting Services, E&A Consultant Co., Ltd, At Solutions, Camprof Properties, Leedon Heights, LE CONDÉ BKK1, AIMSCambodia, Modern House 01, Beyond Design, KH Land, Modern Condo, Yue Aston, Monet & Go Home Condo, Romdual City, Rest & Go, CAR 4 you bringing LEVDEO, E-GREEN & FOTO Brands and TF Motors (Cambodia) with the brand MG.Media partnersKhmer Times, B2B Cambodia, Sabay, Nice TV, Property Area Asia, Fresh News, Sing Meng, Panasia Life, Thmey Thmey, Business Khmer, Business Cambodia, Grep Tech, 58.com, Enjoy Cambodia, Veha, BritCham, EuroCham, AmCham, and many more.Register now for express entry!Article by:

Russey Keo, a promising suburban district at the northern part of Phnom Penh, holds plenty of opportunities for land development alongside up-and-coming districts such as Chroy Changvar to the east, and Sen Sok and Toul Kork to the west, and south-west, respectively.Roads in the area are well connected by major roads such as Preah Sisowath Quay which leads to the tourist hotspot of Riverside and the Cambodia-China Friendship leading to the fast-developing area of Chroy Changvar, among many others. Small rivers and museums are also present in Russey Keo, giving it a small touch of Cambodia’s inherent natural beauty and cultural richness.The SJS Group, a joint venture between Taiwanese and Cambodian businessmen launched a 31-storey condominium in this area - The Hexa Condo, to meet the increasing demand of Phnom Penh residents for a simple yet high-quality residential property in the new decade.The Hexa was developed by SJS Group, a Taiwan-based developer with more than 20 years of development experience. Its series high-quality properties range from boutique to luxury developments spread throughout Taichung City in Taiwan. The developer’s popularity is well-known among Taiwan’s real estate market as SJS Group consistently boasts 100% sales.. The SJS1 Borey, the first project they developed in Cambodia, became a hit and quickly sold 100% of its units.The Hexa Residences is located in Russey Keo and borders the northwestern part of Toul Kork. Its location allows residents to enjoy the advantages of Russey Keo’s lower property prices and at the same time, enjoy the many commercial offerings in Toul Kork and Sen Sok. The Hexa is part of SJS Group’s development philosophy of developing top-level buildings on land of good value.SJS Group’s team of experienced architects designed The Hexa with both aesthetics and function in mind will little-to-no compromise. Their work developed The Hexa into an attractive home as popular as the prime developments in more developed areas like Toul Kork.Alongside its residential options, The Hexa features a cluster of office spaces, available for companies looking for a reasonably priced foothold in Cambodia’s growing economy.The Hexa meets the increasing demand for high quality and comfortable residences while maximizing cost-effectiveness. It offers permanent ownership of these properties starting at $40,000 that include a variety of property services.A life of dreams fulfilled at The HexaThe residence sits on an area of 1,578 sqm and boasts 576 apartments, parking spaces on 1st to 4th floor, and office spaces occupying the 29th and 30th floor.Variety of apartments range from one to three bedrooms, and between 30 to 64 sqm of net area. The ground floor serves as a lobby, with a feature of Brainstorm co-work space that breeds creativity and fosters the potential of tenants working there. Other services include a concierge and property management.Amenities such as a gym, swimming pool, and romantic sky bar atop the building are exclusive for residents to enjoy. It’s easy to envision a cozy and energetic lifestyle at Hexa Condo.The residents can also enjoy personalized home services, maintenance and security, vehicle check-in, private secretaries, rental and accounting, letters and messages, laundry, and even breakfast as part of living in The Hexa.Various public facilities provide both richness and convenience to one’s daily routineThe city centre of Phnom Penh is just a 10-minute drive from The Hexa.☞ Take your time in exploring the city, you can also choose the city bus, take the No. 7 bus, and you can reach all areas along Road 271.There are plentiful retail businesses in the neighbourhood, and Toul Sangke Hospital and many other clinics located on 103rd Street.On top of that, many schools are nearby, including Golden Gate International School, Western International School, Beijing International School, Paññāsāstra International School, and Paññāsāstra University of Cambodia. Multiple routes from The Hexa connect to TK Avenue, Oriental Culture Square, Eden Garden commercial area, Makro, Mega Mall. Local and international food can be found within a healthy proximity of The Hexa, and of course, Starbucks, Koi, Brown, Amazon, Chatime and other well-known brands of coffee and tea are not absent in the nearby neighbourhood.City Golf Course is nearby for golfer-residents.Besides more than a hundred private clinics, there are also advanced medical services available at Victoria International Hospital and Calmette Hospital around.Delivering confidence through the pursuit of qualityDuring its over 20 years of development, SJS Construction & Development adheres to the policy of selective landholding and maximizing value of property. Setting a series of strict bars for construction to steel developments against earthquakes and typhoons, SJS has always worked with Taiwan-certified Class A builders to offer the safest buildings, of which buyers’ interests are assured, and residents can live with sound peace of mind.SJS Group's team of professionals will handle everything post-purchase that matters, including escrow, rent, and resale for overseas owners.According to the latest Toul Kor’s rental rates, one-bedroom rent starts from about $350 per month; and $600+ or $850+ per month for a two-bedroom or three-bedroom apartment. Therefore, the annual return on investment of Hexa Condo can be expected to reach 9%. More enticingly, Hexa Condo is reasonably priced at a lower threshold.Take a close-up view at the Hexa Condo project, which will likely become one of the most successful projects of SJS Group.Hexa condo payment termsFull Payment: Deposit of $1,000, sign in 1 week with 30% down payment, 70% paid in 1 month.Install Payment of 3 years: Deposit of $1,000, sign in 1 week with 30% down payment, 70% instalments from 2nd to 36th month.One bedroom, size 35.31 sqmAt this time, this is the low-start unit type which price ranges from $48,000 to $54,000. It is located by the atrium and has a simple but well-organized layout with full furnishing. It is more suitable for an investment on a short-term rent like hotel rooms. Based on the management and services provided by the developer, home investment with this one-bedroom is hassle-free.One bedroom, Premium, size 37.71 sqmThis typical one-bedroom unit type is well-designed, stylish, and elegant. The living and resting area is well balanced and undisturbed. It also has a balcony open to a nice view, where you can welcome the cool morning breeze while enjoying a healthy dose of sunlight. The bedroom also has an outreach area to bathe below the sun or enjoy a read or chill-out.Two-bedroom, net area from 39.01 to 53.8 sqmThis is a two-bedroom unit with an ensuite bathroom. The interior design is stylish and elegant, with living and resting areas laid out in a good balance and undisturbed, and a balcony as well. It is a smaller yet lovely family space.Three-bedroom, two-bathroom, net area of 63.93 sqmThis is the unique type of three-bedroom unit at Hexa Condo with double bathrooms. It dots on a corner of each floor, so that it has two open balconies beside its living room and comes with a bigger bedroom. The compact layout effectively utilizes space and creates a perfect combination of simplicity and comfort.Office spaceOffice spaces can be found on the 29th and 30th floor with 17 types of units with net areas ranging from 35 to 86 sqm. State-of-the-art design with different sizes and other inclusions will fit the needs of different kinds of businesses either large or small.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh

On 26th February, Prime Minister Hun Sen announced the exemption of the 4 percent stamp duty on residential properties valued less than $70k amid the global crisis caused by coronavirus outbreak.This exemption that will last until January next was announced by the premier during his speech at the inauguration of National Road 58, a 174-kilometre road connecting Poipet city in Banteay Meanchey province to Oddar Meanchey province’s Samrong city.“In the time that the world economy is being disrupted by the coronavirus, Prime Minister Hun Sen reiterated today to everyone throughout the country that if you buy homes, condos and boreys valued lower than $70k the stamp tax duty is not required,” read a Wednesday post on the premier’s official Facebook page.According to a report by Khmer Times, real estate professionals have welcomed the move and said it will help reduce risks posed to Cambodia’s real estate sector by the coronavirus.James Hodge, the director of CBRE Cambodia also welcomed the government’s initiative and said while supporting the first-time home-buyers, the move also helps protect the affordable housing sector from external threats.“It’s positive. It’s a great way to support first-time buyers and those looking for affordable houses. It is a very progressive policy that targets an up and coming and very relevant sector that benefits a wide range of local people,” he said.“This initiative from the Cambodian Government should help to add strength and confidence to the affordable segment of the market, insulating it somewhat from current external threats,” he added.Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.khArticle by:

There are studies suggesting that a person spends an average of 10 years of their 78 life-years at work. If we include overtime work, that’s another 14 months added to an already significant amount of time spent on the grind.Obviously, one’s work plays an important part in people’s lives and a good working environment makes the time spent at work at a lot more productive and beneficial to anyone’s career.5A grade office space has become the best choice for companies thanks to selective locations, full range of facilities, and an atmosphere fit for the business.The noticeable differences between 5A offices and mediocre ones lie in the premium business space with top-tier comforts and the humanized office experience. It is not a simple compartment made of concrete, but a place suited for cooperation and productivity.The Prince Happiness Plaza, a landmark development in Phnom Penh’s CBD, is providing world-class office spaces. It offers both a sense of awe from its design architecture and more importantly, an environment beneficial for careers and contentment.How would you imagine your career in the Prince Happiness Plaza?Leisure communeTake your time to prepare for a new day as there’s no need to worry about beating the rush hour traffic. Your office in the Prince Happiness Plaza sits along the Monivong Boulevard ringed by Road 271 and Hun Sen Boulevard. The building is equipped with 11 high-speed elevators which quickly bring you to your office floor, regardless of rush hour traffic.Dullness-freeA dull day can be quite the stress on its own, more so if that added up to actual stress from your workload. Prince Happiness Plaza’s mirror-like glass walls offer expansive views of the beautiful cityscape, a scenery perfect for when you just want to sit back and relax. Offices also offer a grand view of the Mekong and a nighttime view of the shining lights along the riverside, giving any overtime work you may have an invaluable set of sights you can rest and enjoy.Moreover, office spaces in Prince Happiness Plaza have a flexible combination of floor plans with sizes ranging from 41-2294 sqm specifically designed to meet the various needs of businesses and their workers. The layout on each floor also includes segment of atriums for rendezvous or small events, meaning a team rapport or networking can naturally come along.Funs at the doorstepTo indulge yourself with kinds of joy after a workday at the Prince Happiness Plaza is just a few steps away from your door. Find a nice place to hang out with friends or colleagues, or go to a movie after a fine meal, or enjoy a shopping spree ... all is there for you in and out of the Plaza. Prince Happiness Plaza, a building in Phnom Penh CBD with a floor area of 800,000 sqm, is a commercial centre with shopping streets, a super large shopping mall, a five-star hotel, serviced apartments. In a few-minute drive, you may reach many more mega-retailers, such as AEON 3, Peng Huoth Mall, Russian Market, and Central Market. So to say, all you would like to have for a happy hour can be reached in no time.More details of Prince Happiness PlazaThe ideal space for work of today usually comes with a modern structure, easy access, and surrounded by a decent neighbourhood - Prince Happiness Plaza offers all of these and more. It’s only a fine choice for urban elites, it also serves as a testament to any successful business.Prince Happiness Plaza is located in the heart of ​​southern Phnom Penh, a part of town seeing continuous growth. Famous landmarks, such as the Independence Monument, National Museum, and the Royal Palace are nearby. A cluster of embassies, including Australia, Japan, Thailand, Russia, Malaysia, among many others are within reach.Modern medical institutions such as the First Center Polyclinic and Bayon Hospital, and international schools such as ISPP, PARAGON, and Royal University of Law and Economics are all within a 2-kilometre radius. It is also close to tons of leisure and entertainment which includes AEON 3, PH Mall, Russian Market, Central Market, Sofitel Hotel, Bassac River Restaurant, and Naga World. Occupants of the Plaza can easily enjoy all the offerings from a wide range of available amenities.Additionally, Prince Happiness Plaza is located right along Monivong Blvd, well within the area where Monivong, Road 271, and Hun Sen Blvd all merge - allowing for quick access to the heart of Phnom Penh, the airport, and basically anywhere else in the city!Seize a spot in the heart of a rising stage, where an icon will soon stand! Do not miss out on the metropolitan luxury residence (MERRYLAND) and its office assets (SKYRISE), both available for international sale!Realestate.com.kh is proud to bring back Cambodia’s biggest Property & Lifestyle Market Expo which will be held on 7th and 8th August at Koh Pich Exhibition Center.Booth sales and sponsorships for Home & Lifestyle Expo 2020 are open. For more information, please contact:  Nin Kang (Khmer/Chinese)+855 78 637 323+855 93 552 305nin.kang@realestate.com.khTyler Stuart (English)+855 12 599 699+855 81 599 669tyler.stuart@realestate.com.kh