In last week’s edition we considered some real estate negotiation tips to help you think more laterally in your real estate negotiations and achieve better outcomes. Missed the first tips? Find them online at realestate.com.kh/newsUnfortunately positional bargaining in real estate transactions (that is, focusing solely on a price battle) generally results in poor outcomes for both parties - because everyone gives up the same amount and, therefore, neither party gets what they really want.Thankfully there are other ways to negotiate! Here are some more simple real estate negotiation tips and watch your odds change:3. Trust your judgment and make genuine offers:There is a saying in real estate that ‘time kills deals’ and in a fast paced property market such as Phnom Penh, Siem Reap and Sihanoukville this is definitely the case. As such, we suggest researching the real estate market thoroughly and making an offer that is at, or very close to, your maximum.  By making an offer for what you know the property is worth, you have a strong chance of buying the home, land or commercial property, before other buyers swoop in and offer more. Remember this negotiation tip and don’t get caught out offering less than you know the property is worth - if this occurs you are likely to miss out as more aggressive buyers pay more and close the deal.4. Loose lips sink ships:Never let the other party know how much you have available to spend or what is motivating you to buy during any real estate negotiation; this risks the seller using these great negotiating tactics on you! This is a key negotiation tip in any situation, not just real estate.Similarly, given so many properties in Cambodia are marketed as “Price On Application”, it is very important to always make the seller name a price first before beginning any real estate negotiation. With that information you are well placed to make a counter-offer in proper context of the seller’s price. If a buyer makes the first offer, they are in danger of over-pricing the property from the start and that can only ever result in a bad deal.5. Cash is king:Sellers hate any uncertainty in a deal and offers made ‘subject to finance’ can be a deal breaker when a competing offer is for cash – even if the offer is for less. This is why it’s critical to have your finance arranged and be ready to settle on a deal very quickly once the price is agreed. See the bank BEFORE you see the seller! Cash is always king in real estate negotiations, in any country, but especially in Cambodia. Being able to offer cash gives the seller absolute confidence in your offer and this is often worth more to a seller than a higher offer that may never settle.Keep these real estate negotiation tips up your sleeve, and you will secure you dream property in no time; on YOUR terms, not the sellers!Want to learn more about how you can make money by investing in real estate wisely? Get on Realestate.com.kh today, the best source of information for property buyers & Sellers in Cambodia.

(A sample of Cambodian property ownership title)Cambodian land title classifications can be rather confusing to a new property buyer. That’s why we’ve come up with a simple guide to the 4 different property titles you need to know. Before we get started, we have to note a fundamental rule when it comes to talking about land property/ownership in Cambodia: According to Cambodia’s constitution, only Cambodian nationals can own land and landed property within the Kingdom.Now that’s out of the way, let’s explore the main ways property ownership can be secured in Cambodia.Property ownership can be secured by one of the 4 main forms of Cambodian property titles, namely: Hard Title, Soft Title, LMAP Title, and the Strata Title. We’ll give you a quick rundown of the important points to remember below.Types of Cambodian Property Titles:Hard TitleHard title is the strongest form of property ownership in CambodiaIn the rare occurrence that a disputed land has both a Hard Title and a Soft Title, the owner of the Hard Title will win the dispute. Hard title is a land ownership certificate provided by the Land Management and Planning office.Hard titles contain detailed information that has been duly recognised and certified at a national level with the Ministry of Land and the concerned cadastral office.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Hard Title transfer.The facilitation of a Hard Title transfer usually takes up to 12 weeksForeign nationals are constitutionally prohibited from obtaining Hard Titles.Soft TitleSoft title is the most common form of ownership and the most commonly issued Cambodian land title as the transfer taxes and fees are cheaper than a Hard Title.It is estimated that 85% of Cambodian property owners only have Soft Titles to back up their property claims.It is a Cambodian land title that is recognised at the local government level (Sangkats & Khans)Soft titles are provided by the local Sangkat or District office and are not registered at a national level - but are still considered a valid legal document of ownership. Soft Titles are relatively cheaper and quicker to acquire for CambodiansEstimated to take anywhere between 10 to 12 working daysForeign nationals are prohibited from owning a Soft TitleLand Management and Administration Project (LMAP) TitleThe LMAP Title is another property ownership title issued and recognised on a national level by the Ministry of Land Management, Urban Planning and Construction (MLMUPC) - along with the relevant cadastral offices.The main difference of the LMAP Title from a Hard Title is its inclusion of the exact GPS coordinates that determine the boundaries of the property in question.LMAP Titles can only be obtained on land that has been indexed on a cadastral map. So, if a plot of land has not yet been indexed, an LMAP Title cannot be issued for that property.If the MLMUPC is presently undergoing the necessary LMAP titling process in your village or area where you live, this means you only need to follow what your local authority informs you to do once the project is completed. It is their obligation to communicate with you.It is possible to own a Hard Title without an LMAP Title due to the above-mentioned limitationA Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the LMAP Title transfer.Foreign nationals are not permitted to own an LMAP title.Strata TitleStrata Title is a special title commonly used for condo unit purchases which is available to both Cambodian nationals and Foreign nationals.There are other mechanisms not necessarily involving a Strata Title available for property ownership for Foreign nationals which you can see in our investment guide.Strata Titles can only be granted if the property in question satisfies these criteria: Only applicable to buildings constructed in 2010 and beyondForeigners can only own 70% of the total surface area of the building or propertyStrata Titles cannot be issued for properties on the ground floor and/or undergroundStrata Titles cannot be issued for any property within 30km of the nearest land borderPrivate Ownership in co-owned buildings (also known as Strata Title) is the most recent form of ownership and allows foreigners to legally own property in Cambodia.Strata Title is a less common Cambodia land title, but the numbers are growing fast.Most new condo development projects offer this type of title to accommodate foreign demand to own property in Cambodia.The Law on Foreign Ownership’ was promulgated on 24 May 2010. This law limits foreign ownership to co-owned buildings. Foreigners still cannot own land, as it is unconstitutional.Co-owned buildings are defined as a building or construction in which several owners reside (eg. a condo complex or office tower), consisting of some parts that are the exclusive ownership of each co-owner (private units) and some other parts that are common spaces for the common use of co-owners (common areas).Strata Titles are issued by the Ministry of Land Management, Urban Planning and Construction. Which means Strata Titles are recognized on a national level.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Strata Title transfer.How to Transfer A Property Title in CambodiaWhen you purchase property or land, it is critical to obtain outright ownership in order to feel secure about your new asset. To complete the process for transferring land titles of ownership, there are particular steps that need to be followed, documents that need to be obtained, as well as the necessary consultations with relevant agencies.Step 1: Verify the title certificate with the relevant Land OfficeThe buyer will first need to verify the land title certificate with the Land Office at the Ministry of Land Management, Urban Planning and Construction (MLMUPC), to check for any debts or other claims to the property. This process requires:The buyer must obtain the original title certificate from the seller to verify their genuine ownership.The buyer will then verify the title certificate with the Land Office at the MLMUPCThe Land Office will inform the buyer if there are any liens (debts), mortgages or other claims registered to that property.Relevant Government Agency: Land Office at MLMUPCEstimated time to completion: This takes approximately 10 days (should occur simultaneously to steps 2 and 3)Step 2: Obtain information on the propertyThe buyer must then obtain information on the property from the relevant Commune Council Official. This involves the buyer contacting the village chief or the Commune Council Official in which the property is located to obtain information about the land/property. In addition to this, an official search of the title should take place at the Khan/District Land Office.Relevant Government Agency: Commune Council (Relevant District/Khan office in your property’s area)Estimated time to completion: This should take approximately 10 days (we advise that this be done in parallel to Steps 1 and 3)Step 3: Obtain the certificate of incorporation and official documents from the sellerIf the landowner is a legal entity, the buyer must obtain;A copy of the ID of the shareholder, or person acting on behalf of the company,A certified/notarised copy of the Certificate of Incorporation of the seller’s company as issued by the Ministry of Commerce.Any other official documents from the seller relating to the company and the transaction.All of these documents are needed to verify the accuracy and identity of the company name appearing on the title certificate. Further documents needed to verify the seller’s authorisation to transfer the property to the buyer are;A special power of attorneyA Resolution signed by the Board of Directors from that company authorising the named individual (seller) to represent the company at the Land Office (MLMUPC)A power of attorney specifically stating that the seller can bring into effect that Resolution to transfer land titles of ownership to the buyer.Relevant Government Agency: Ministry of CommerceEstimated time to completion: This process should take around 10 days (should occur simultaneously to steps 1 and 2)Step 4: Apply for registration at the District Land Office (MLMUPC)When the buyer and seller, whether they are as an individual or a company wish to complete the property transaction, they must go together to the District Land Office at the MLMUPC to arrange, to prepare and sign the relevant documents.The documentation needed for this step isThe Company’s statuteThe Company’s Certificate of Incorporation (obtained in Step 3)Both of the Power of Attorney documents (obtained in Step 3)The original Title Certificate held by the seller must be presented to the District Land Office at the time of signing the deed, in order to have the name of the new owner officially inserted on the document.Relevant Government Agency: District Land Office, MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction)Estimated time to complete the step: This step takes between 20 and 30 days.Step 5: Pay transfer taxA transfer tax of approximately 4 percent of the total value of the property is paid to the Ministry of Economy and Finance at the General Department of Taxation, in the district that the transferred property resides. A tax receipt is then issued to prove that the property transfer tax has been paid.In Phnom Penh, however, this tax is not assessed based on the true transacted value of the property; but, rather, based on a schedule of the price of property determined by the Phnom Penh Municipality. The assessed valuation by the Phnom Penh Municipality is based upon factors such as; the total number of square meters, the land’s location, use, potential use, and other variables.To put this quite simply the transfer tax is not based on the actual price of the land which is sold, which is usually the case, rather it is based on the assessed value made by the Phnom Penh Municipal office, which may be higher than tax rates in other provinces.If the land is more than 1200 sqm, the surplus of the land will also be subject to “unused land tax.” For land less than 1200 sqm, the unused land tax is not applicable. The time for the General Department of Taxation to complete the calculation of transfer tax will depend on the location of the land and its size.Relevant Government Agency: General Department of TaxationEstimated time to complete the step: This process should take around 1 dayStep 6: Return to the cadastral office to complete the registration processAfter all relevant taxes are paid, the parties may return to the cadastral office at the District Land Office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC) and sign/thumbprint an MLMUPC form for buying/selling real property, as filled in by MLMUPC official.The signing/thumbprinting must be witnessed by a local authority such as commune chief, who will also give their thumbprint. These procedures are based on Land Law Articles; 65, 244 and 245. Land Law Article 69 bars transfer of property unless all necessary taxes are paid. The documentation provided should include payment receipts of the transfer tax. (obtained in Step 5).Step 7: Obtain the certificate of title from the Municipal Land OfficeObtain the certificate of title from the Municipal Land Office: The Khan/District land office forwards all the “transfer documents” to the Municipal Land Office where it issues the final Certificate of Title in the new owner’s name. It is now registered.Relevant Government Agency: Municipal Land OfficeEstimated time to complete the step: 1 to 2 weeks. The last procedural step in practice can take several weeks, depending on the diligence of the land officials and interested parties.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:

Siem Reap is a prime tourist destination in Cambodia and serves as a doorway to the historical site of Angkor. Each year, visitors from all over the world travel there to explore Angkor which magnificently reflects the 12th century civilization and is listed as a World Heritage site of UNESCO.Aside from being a top tourist destination, it is also becoming an increasingly important spot for real estate investments. The city is now filled with luxurious hotels, beautiful colonial buildings, impressive handmade crafts, nightlife, and much more.An increasing number of people are considering purchasing land in this province. What is there to know about this area and why is becoming so attractive?Location:The city is located around 314 kilometers northwest of Phnom Penh, and is well connected by the National Road 6, which will take you to the city in less than 6 hours. It has a total area of 10,299 square meters and the province has 11 districts, 1 town, 13 Sangkat, 87 communes, and 921 villages. Siem Reap is a true natural beauty: is settled in southern Tonle Sap -- the largest lake in Southeast Asia. The lake serves as a shelter to hundreds of bird and fish species and without any surprise, the lake was recognized as the first Biodiversity Conservation area by UNESCO back in 1997.The area is also home to the Cham and Vietnamese communities living in floating villages around the lake.The fascinating Siem Reap city center that includes many luxury hotels, beautiful colonial buildings, a buzzing Pub Street and nightlife, markets, crafts and much more...The potential of this area is significant with strong growth potential in the tourism and service sectors as well as craft production, fisheries and of course real estate.Growth of business in Siem Reap:Pub Street is probably the most famous street of Siem Reap: it has the highest concentration of bars, pubs, karaoke places and restaurants. As a result of a combination of tourism growth, progress, and F&B businesses, pub street and the road nearby, are in high demand for their retail spaces.Although the real estate sales in the area aren’t that many, the leasing of activities has increased and became one of the major sources of profit for the area.Real Estate in Siem Reap:In 2015,  the price of Land in Siem Reap increased by 5% to 10% and growth in the ring road area up to 15%. So far, the city center has been the main target for real estate investments; This includes four major Sangkats: Slorkram, Svay Dangkum, Salakamreuk, and Korchak.Tourism, hotel, entertainment, retail and service sectors have had a positive effect on the area’s economy. Although rental has grown rapidly in the four sangkats in the last 10 years, the real estate market of Siem Reap is said to be developing in a healthy way.Land prices in Siem Reap:Year after year Siem Reap is still one of the most attractive destinations for both local and international tourists.According to Mr. Po Eavkong, General Manager of Asia Real Estate Co., Ltd "Land prices will increase by an average of only 5 to 10 per cent this year, the same percentage points as in 2015.”Eavkong also explains that because of this “landed property could fetch between $300,000 to $400,000, or equal to $4,000 to $5,000 per square metre. Meanwhile, along Sivutha Boulevard prices could range from around $2,000 to $2,500 per square metre, with land further afield along National Road 6 falling anywhere from $300 to $150 per square metre.”Sok Sarath, a local estate agent, also believes that Land in Siem Reap is a good investment. He stated that businesses are growing rapidly, the​ province displays many vacant land and residential project developments along the ring road cities are raising.Is it good to invest in land?Kim Heang, president of CVEA said "Investing in Land in Siem Reap, it's suitable for those who have financial means and do not require a loan". He continued, "But if you invest land by borrowing from banks, it might not be the best option if you are looking for quick returns. Although interest rates are only 8 percent a year, it will take approximately 2 to 3 years before you will be able to sell the land and make a profit."What area in Siem Reap is good for investment?Areas with potential for quick profits include development projects alongside the ring road. Businesses along that road are also expanding: hotels, restaurants, private clinics, schools, factories and other institutions. Slorkram, Svay Dangkum, Salakamreuk, and Korchak have also showcased the most dramatic growth in recent years.Why invest in Siem Reap instead of Sihanoukville and Phnom Penh?As mentioned, Siem Reap has seen an increase in business and tourism. Investments in real estate development can already be noticed, and had influence on the city’s growth figures. The land prices here are still lower compared to the ones in Phnom Penh and  Sihanouk Ville. The population is also lower, resulting in a stress free environment with very limited traffic and pollution. Siem Reap is particularly suitable for those looking for tranquility and privacy.Find more investment guide in Cambodia on Realestate.com.kh now!Take 2 minutes to complete our survey and win and IPhone 8!

(Check out our update on real estate scams in Cambodia in 2019)Despite the huge growth in the Cambodia real estate industry, there are still many operators that are conducting real estate scams and misinformation for a quick profit. Here is a list of the most common scams in the market, thanks to Realestate.com.kh. If you ever think you might be getting scammed, seek professional legal advice!The Double Title Scam:Properties in Cambodia come with soft titles and hard titles. Sometimes a property may have both. This scam involves an owner selling the house to two buyers. One buyer gets the soft title and the other gets the hard title. The person with the soft title loses the house because soft titles are only recognized in the local government, while a hard title is recognized at a national level. There have also been cases of multiple titles being issues, or forged – and sellers selling the same property to multiple people. There is a possibility that the buyer with the hard title is involved in the scam, but that is not always the case.You can avoid this scenario by making an inquiry with the Ministry of Land Management, Urban Planning and Construction and the local government office managing property registration. Get a copy of the title from the seller and check it against official records.Another safety precaution is to check whether the neighbors have hard titles. If they do, this means that the government has already titled the area. Buying a soft title in a place where most neighbors have hard titles is not advisable.Hidden Land Disputes:Having a soft or hard title in this scam is hardly relevant. This scam involves the property standing on a land with an ongoing dispute. Usually, talking to neighbors reveal this issue. But you should also conduct a title search through a commune council official or the Ministry of Land just to be on the safe side. A professional real estate agent will do this on your behalf, or a lawyer with experience in property transactions.Deposit Disappearance Act:This scam is done by a fake owner. A buyer is asked to pay a deposit to secure the property. The seller then disappears after receiving the deposit. You may opt to pass the deposit through a reliable third party or an intermediary escrow bank account until everything is settled to protect yourself from this.Want to learn more about how you can make money by investing in Property in Cambodia? Get on Realestate.com.kh today, the best source of information for property buyers & Sellers in Cambodia.Work with the best and safest agents: find them here!

Preah Sihanouk province or generally known as Sihanoukville, is located at the south-west corner of Cambodia. It is 230 km from the capital city of Phnom Penh. It covers a total of 2,536.68 square kilometers where two-third of the total area are hill and plateau.Now, Sihanoukville has become significant part of the country’s economic growth. With the stability of its economy, it is also attracting foreign investments into the province, which is also affecting the land market. For this reason, before buying land in Sihanoukville, it’s important to understand the local market to make sure you get your investment worth.How much is land in Sihanoukville selling for?According to Mr. Den Sakal, CEO of Universal Real Estate in Sihanoukville, land in Sihanoukville is divided into three major areas -- agricultural land, downtown land, and coastal land.Agricultural land refers to the area where residents are living and doing their farming. This type of land is located farther from the town and beach. The price of this type of land also remains lower compared to other two areas. Meanwhile, downtown land is crowded and is not far from the beach, and is generally good for businesses since this is where all the commercial activities happen. This allows the land price to go higher than in the agricultural area. However, buying land here is still lower than the coastal land area where the beach is the key factor for tourism, residence, hotels, restaurants, and other leisure activities.Sakal mentioned that in terms of land price, agricultural land starts at $5 and can go up to $25 per square meter. Downtown land has an average of $400 to $700 per square meter, whereas the coastal land where there is high potential, prices range from $700 to around $1,200 per square meter.What types of land titles are available for land in Sihanoukville?Sakal said that there are both hard titles and soft titles being used in the entire province. But soft titles do not hold the same security that hard titles do. Some areas have been issued hard titles by the land office. But some still don’t have hard titles. However, every land that carries a soft title can be also applied to get a hard title.Soft titles are still generally accepted without any problems. However, before buying any land asset, is better to ask for a hard title. If it does not exist, then check with other villagers in the area to make sure you are buying a secure land.Where should you buy land in Sihanoukville?Sakal says there are a total of 4 districts in the province. These are Sangkat 1,2,3 and 4. Sangkat 1 is far away from the other three. If you plan on investing in this sangkat, meaning that it might take longer to see the return on your investment, compared to the rest of Sangkats. The other 3 sangkats are quite  busy in terms of business, commercial activities, and tourism. It’s more convenient for both living and selling back in this area -- especially in Sangkat 4. It is the top area for tourism. It houses the Ochheuteal Beach, Otres Beach, Sokha Beach, and the upper market (Phsar Leur).Why should you buy land in Sihanoukville?The potential for investment in the area is huge, in terms of residential development, industry, business, and tourism. So, regardless of whether you buy properties here for living or for future resale, this area appears quite promising.Additionally, Sihanoukville is seeing the rise of many new housing developments such as D’seaview, Blue Bay Sunshine Bay, Royal Bayview and Blue Sky Tower. Other than the residential sector, there are also many already existing developments here such as ports, the Sihanoukville Special Economic Zone (SSEZ), the airport and tourism sites. And it is expected to welcome  even more new developments in the upcoming years.Moreover, today accessing Sihanoukville is much more convenient with options like using the National Road No. 4 and the railway which have direct access to Phnom Penh. All these factors provide constantly good opportunities for land investment in Sihanoukville.Can expats buy land in Sihanoukville?According to the land law of Cambodia, foreigners are not allowed to own land and landed property in the country except through a strata title. However, strata titles for residential units are only applied for co-owned buildings and foreigners can only own units above the ground floor.However, there are exceptions that foreigners can utilize to own land in the country such as marrying a Khmer, becoming a Khmer national, leasing long-term, using a nominee structure, forming a landholding company, or applying for a concession.What are the legal aspects I need to know before I buy land in Sihanoukville?No matter what methodology you use to find land Sihanoukville, just make sure you find land with no hidden conflicts, and no hidden leasing or buying. But it may be stressful to check these details if you are a newcomer to Cambodian real estate. As a recommendation, seek the assistance of local agents to help you find the perfect property. In term of the law, real estate agents are very knowledgeable about the area and can handle those things for you. Your stress will be relieved.Looking for land for sale in Cambodia? Find it on Realestate.com.kh

Kicking off the 1st quarter of the year, the 2017 Real Estate & Construction Forum gathered property experts and enthusiasts from all over Cambodia and the world to achieve a common purpose. To advance in their knowledge of the industry. As such, speakers like Tom O’Sullivan – CEO of Realestate.com.kh – came out to talk about matters of grave importance. And one of those is the rapid growth and potential of Sihanoukville.Sihanoukville Investment prospects appear to be growing steadily in 2017. But what is so special about Sihanoukville and why should people start taking it seriously? Realestate.com.kh gives you the lowdown from Tom O’Sullivan himself.Why is everybody suddenly moving to Sihanoukville and considering Sihanoukville Investment?For one, O’Sullivan said that initial steps of the proposed master plan are already being completed. He mentioned that there’s actually a plan to conserve Sihanoukville’s natural resources and although this is giving difficulties for some businesses, ultimately it will benefit Sihanoukville. New developments and international names already include D’Seaview, Blue Bay, Royal Bayview, Sunshine Bay, Novotel, Marriott, Grand Mercure, Alila, and the Six Senses.Casinos are also making their way to Sihanoukville, granting multiple licenses to build and operate in this area. O’Sullivan mentioned that these developments build the confidence of investors and developers.He also added that infrastructures such as highways, roads, and port expansions are driving additional interest for other businesses because they not only aid travelers but connect other areas to Sihanoukville to either access its beaches or the SSEZ which employ thousands upon thousands of employees.Find out more about Sihanoukville Investment in our comprehensive location profile!Have these changes been visible to the consumers?In an attempt to look at the situation from another angle, O’Sullivan explains that Realestate.com.kh also conducted its own research to get a better understanding of the perceptions of the consumers.Around 5,000 people took part in the survey, which O’Sullivan says is a testament to the continued interest in properties in the country. The survey also showed that around 73% of the survey respondents are interested in buying in the next six months, and the majority estimates a budget of $50,000.With over a million people surfing the Realestate.com.kh site yearly, analytics have revealed that while Phnom Penh remains the most popular area for property seekers; However, taking 2nd place for the most searched area is Sihanoukville province.This is substantiated by inquiries from their customer base which O’Sullivan says grew to 25% in 2017, from 10% last year. He stated that most of those inquiries are from customers wishing to buy in Sihanoukville, especially for land. Most of these are Chinese investors. O’Sullivan quoted Juwai.com, a famous Chinese property portal, which suggests that 57% of Chinese consumers actually plan to purchase properties in countries in which they’re traveling to.So, will Sihanoukville overtake Phnom Penh?To realize the magnitude of the market slowly shifting towards the Sihanouk province, O’Sullivan first explains that the Phnom Penh market still enjoys a great property climate. In fact, the consumer sentiment survey shows that Phnom Penh is still the "first choice for those interested in purchasing a property" – leading at 65%, whereas Sihanoukville is at 2nd place with 15%.All in all, Sihanoukville has an attractive property market not because it’s safer for investment than in Phnom Penh. It is an attractive market because it is continuously building itself with its own character, with both a tourism and industrial focus, setting it apart from both Phnom Penh and Siem Reap. Thinking of investing in Sihanoukville? Look at the latest developments in Cambodia's premier resort town now!

The property market is currently booming and trending upwards, based on the estimates of Simon Griffiths, Managing Director of The Mall Company Cambodia. He added, “With greater competition, developers shall increasingly offer better-guaranteed yields and deals to foreign and local buyers.”The Kingdom of Cambodia, for the past half-decade, has seen a consistent 7% GDP growth. In 2019, the country also saw its inward FDI flow increase to $3.7 billion, an increase of 12% compared to 2018.But data and figures can only go as far if you’re not familiar with the real estate sales and purchase processes of Cambodia. This is exactly why Sereyrath Kiri, an Associate at Sciaroni & Associates, tackled this topic during a recent breakfast meeting with real estate professionals -- to promote knowledge in regards to the appropriate way of buying and selling properties in Cambodia.What are the Types of Property Tenure and Ownership?Kiri mentions that there are various ownership and tenure in Cambodia. These include:Freehold ownership: In freehold ownership, the owner is free to use the property as he wishes, as long as it follows provisions stated in Cambodian law.Leasehold: You can branch this out into two subcategories: short and long-term lease. Long-term leases typically last for 50 years or more and are registered with the land department.Concession: A concession is a conditional lease that’s granted by the government over state private land. According to Kiri, this was stopped by the government a few years ago.What are the different types of property titles in Cambodia?Soft and hard titles are the basic forms of land titles, but there are plenty of subcategories that people are not generally aware of. These titles include soft, hard, and strata titles. Kiri explained the differences between each title and gave a brief background on each of their subcategories.A Hard Title is the most secured is issued and recognized by the Ministry of Land Management, Urban Planning and, Construction at a national level. This makes it the strongest form of property ownership.Kiri adds that a hard title actually refers to three types of property title certificates:Certificate of Land Use and Occupation Rights: This is also referred to as a “chicken feather title” because the document has an illustration of the latter. This also refers to any title that was issued to the owner before the land law was enacted.Certificate of Immovable Property Possession: This certificate is given if the land registration was initiated by the individual owner in the area that the systematic land registration had not been conducted by the government yet. This process is otherwise known as a “sporadic land registration”.This certificate does not include a map of the property.Certificate of Immovable Property Ownership: This is a certificate given after a systematic land registration initiated by the government on a specific area. This can be distinguished from the sporadic land registrations documentation because it has a map to show the location of the land.UPDATE: LMAP titles have also become more prolific in recent years. LMAP titles are issued by the Ministry of Land Management, Urban Planning, and Construction. These titles are equal in nature to Hard Titles as they are recognized nationwide, considered secure, and contain in them the specific GPS coordinations of land boundaries - making dispute resolutions a lot less frequent and quicker to settle.A Soft Title is only issued by the local commune or the district office. Therefore it is not registered at the national level, making it less secure than a hard title. Kiri also mentions other risks owners with soft titles may encounter such as competition to claim the title since ownership is not confirmed at a national level of the registry. Overlapping boundaries and duplicate soft titles issued to different applicants may also cause conflicts and issues in the future.Kiri says that a soft title may also refer to various forms of property title other than the hard title. These includes:Application for land occupation - This is the request the possessor of land submits to the local authorities.• Letter of transfer acknowledged by local authorities - This is a document of transfer that the Chief has acknowledged and signed.• Simple and private sale-purchase agreement - This document is an agreement that’s made just between buyer and seller.Another type of title is a strata title, which is a type of hard title that refers to co-ownership rights for buildings. The title itself has a floor plan and a building name. It will also contain a history of transfer at the back. You can perform a title search in the district to prove its authenticity. The strata title is a product of the condominium law.Are you interested in learning more about property titles? You can check our guide to property titles in Cambodia.Interested in purchasing land? Take a look at what is available!Can you Convert Soft Titles in the Province to a Hard Title?Kiri says that all soft titles can be converted into hard titles through sporadic land registration. When asked how much it would cost to do so, Kiri says that the price will depend on the size and location of the property itself.What is the Sale and Purchase Process in Cambodia?Kiri explains that the real estate sales and purchase process in Cambodia are relatively simple. Once you find a property you like, you have to do your due diligence first. This includes doing the title search to check on boundary issues and checking the accuracy of measurements. Then, you should do the negotiation of terms with the owner. Once you come to an agreement, you can go about signing a sale and purchase agreement. After that, you simply have to submit the transfer documents to the Cadastral office and pay the stamp duty tax. The necessary transfer documents will then be brought back to the Land Department so that the transfer can be processed.Once the transfer is complete, you just need to do your confirmatory due diligence. Kiri says that this is when you confirm that the property was properly transferred and that there are no spelling mistakes or errors in the information.Foreign investors can check out our Ultimate Land Buying Guide for more information on obtaining land and landed properties in Cambodia.What are the Relevant Taxes?Kiri also talked about the recent change in taxes. For instance, if a 4% stamp duty on property transfer was only required when transferring hard titles, this is no longer the case. Transferring a soft title now bears the same percentage tax. Kiri adds that the 4% is not the contract price. It’s the value assessed by the tax department. By law, this should be shouldered by the buyer. But in practice, this is often shouldered by the seller.Kiri also states that if a property is sold by a real regime taxpayer or a company, the gain will form part of the taxable profit which is taxed at 20%. He also mentions that a 10% withholding tax is applicable to the lease of property.Another thing you must keep in mind is that the arrears of annual property tax must be settled first before a transfer can be made. This simply means paying the tax that is billed at the end of a year rather than being paid upfront at the start of a year.There is also a tax for immovable property. This is computed by first multiplying the total property value to 80%, subtracting 100 million Riel from that. You then multiply that by 0.1%.According to Article 2 of the Land Law:“Immovable property within the meaning of this law includes immovable property by nature, immovable property by purpose, and immovable property by law”Immovable property by nature is characterized as “all-natural grounds such as forest land, cleared land, land that is cultivated, fallow or uncultivated, land submerged by stagnant or running waters and constructions or improvements firmly affixed to a specific place created by man and not likely to be moved.”On the other hand, immovable property by purpose are “things fixed to the ground or incorporated into the constructions and which cannot be separated therefrom without damaging them or altering them, such as trees, decorative attachments, as well.”Immovable property by law is characterized by “all rights in rem over immovable and movable properties that are defined by law as immovable property.”For other tax information, check out our guide on property taxes in Cambodia.Sereyrath Kiri has given an overview of the documentation and the sales and purchase process. But it is still important to keep yourself updated to prevent any issues when you move forward with a purchase or sale.Interested in buying property? Click here

Considering an investment in Cambodia, especially with high-rise condo developments, may be a wise decision, especially in view of the economy of the country, which has been continually growing in the last several years.According to the National Bank of Cambodia, Foreign Direct Investment (FDI) during 2016 increased to $2.15 billion, a 25% increase compared to the year before.However, we understand that buying a property is a big decision, and you might have some hesitations. For this reason Realestate.com.kh is here to help you in getting to know better the local market.Does Cambodia have a stable economic growth?The Asian Development Bank refers to Cambodia as the “Asia’s new tiger economy.” In fact, Cambodia is now one of the fastest growing economies in the ASEAN region. The country’s gross domestic product (GDP) has been growing by 7% each year since 2011 and is expected to keep moving at that pace through 2017.What types of condos are you looking to invest in and how much are they?Ownership Laws Cambodia: Condominiums are the only residential houses which are available for foreigners to purchase for ownership in Cambodia.Developers have divided condos into three types, including: low-end condo, middle range condo, and high end condo which are available. These are newer projects that have been built to cater local and foreign investment.According to CBRE Cambodia’s quarterly report for Q4, low-end condos have an average starting price of $1,550 per sqm and mid-range condos start at an average of $2,700 per sqm. Meanwhile, the average starting price of high-end condos start at $3,000 sqm.The report also states that Cambodia’s average condominium price is at $3,000 per sqm, significantly lower than Ho Chi Minh’s $4,000+ per sqm and Bangkok’s $6,000 per sqm.What facilities will the condo unit include?Buying any new condo unit in Cambodia also entitles owners to access different facilities such as for instance the parking lot. Other facilities such as tennis courts, residents’ lounge, multi-purpose room, BBQ areas, reading rooms, steam/Sauna, gymnasium, swimming pool, spa pool, security services, and children's playground might also be in place depending on the condominium.What are the hotspots for condominiums in Phnom Penh?When talking about prime locations for buying condo units, investors or buyers should look at the three hotspots OF the capital of Phnom Penh. These include Boeung Keng Kang in the Chamkarmon district, Boeung Kork in Tuol Kork, and some areas in Duan Penh. These popular areas are brimming with a variety of low-end to high-end condo developments.There areas are also popular due to the are many amenities that can boost your quality of life. Businesses and entertainment facilities include restaurants, pubs, bars, coffee shops, karaokes, clubs, fitness centres, international schools, standard hospitals, clinics, tourism areas and many other service-centered businesses. These areas are also generally classified as more modern and peaceful.Just walking around the area helps if you’re interested in buying and want to take time to understand the characteristics and features of each area before you make a decision.What’s the importance of internal regulations and professional property management for your condo investment?Investors and buyers need to take into account the internal regulations and the management services of a condominium before purchasing condominium units.Checking out the internal regulation reveals the rights and obligations of your unit. This is where you learn the locations of common areas, private units, and the conditions of use. It also helps you understand costs related to cleaning, maintenance, and repairs of the common areas.Property management is the management and control over common areas and services offered in the condo. Property management companies will take the overall control of the property on behalf of the owner for things such as cleanliness, maintenance, and all necessary repairs.When you’re considering purchasing a condo, it’s recommended for you to consider a professional and experienced property management firm to handle financial, legal and technical issues. Also consider firms that have a wide network to ensure that the condominium runs efficiently.Failure to do so can strongly affect the real estate asset as internal rules and condominium management can have significant impacts on the value of your condo units.Can foreigners own ground floor unit in Cambodia?Ownership Laws Cambodia: Foreigners can own any property in Cambodia however, there is a limit in ownership rights. According to the Foreign Ownership Property Law, foreigners can only own properties from the first floors up and up to 70 percent of a condominium building.A “Strata title” is applied as an ownership title for foreigners who buy a condo unit in Cambodia. It’s is a type of hard title that is used for a co-ownership building. It’s now applied to all the new condo development in Cambodia.What are the taxes on ownership of Cambodia’s condo?When buying a unit from a developer, you need to transfer the strata title which costs around 4% of the value of the property, where the value of the property is evaluated and set by the cadastral official.Do you know your guaranteed rental returns?There are many new condo developments offering “Guaranteed Rental Returns” to their customers. The standard net returns being advertised by condos and new developments runs from 4% to 9% a year for about two to five years. Some developer will also offer up to 20% and even more for short-term period rentals.Make sure you do your research before purchasing a condo, it will help you maximise your investment!Check the condos available in Phnom Penh here.

SOMA Construction and Development Co., Ltd is a subsidiary of SOMA Group Co., Ltd and is now working as one of subcontractors under supervision from main contractor,  HYUNDAI Engineering (Cambodia) Co., Ltd. for the reinforced concrete works Zone A of the AEON Mall 2 -- covering 4/10 of the entire project area.And just recently, SOMA Construction and Development has also been awarded the contract phase 2 related to decoration work, which is the masonry and plastering works at zone B.  Getting more projects and gaining strong confidence from the market is not easy and definitely does not happen by accident.In fact,  the company is strictly studied about prequalification on both technical and financial capacities before invitation to tender from headquarters of Hyundai and the AEON Mall.,What are the key factors of SOMA Construction and Development Co., Ltd. that HYUNDAI Engineering came to trust?Major achievements of SOMA Construction and Development: the company has completed a range of projects and is now doing construction, design, project management for both national and international clients such as Phnom Penh International Airport, Niroth Water Production Facilities  from French main contractor ,Vinci Construction Grands Projets, Lumiere Hotel from Singapore, The Heritage Walk, which is the biggestmall in Siem Reap province, and one18 Residences, acondominium which has 25 residential stories and 5 levels of basement designed with mechanized car park from Singaporean clients.Human Resources: The company has skilled and highly committed human resources with various areas of expertise and capabilities. This is a significant advantage to ensure the completion of projects on time and with high quality. In order to strengthen the knowledge of their employees, the company has brought an advanced technology called BIM (Building Information Modeling), which is one of the leading programs for engineering and design work. The company also hired professional coaches from Singapore, to train and master the skills of their employees.Focus on Quality and safety: Quality is the greatest selling point of any product or service. However, when it comes to construction, quality becomes the key since it affects people’s way of living. For this reason, SOMA Construction and Development has paid attention to both national and international technical standards to ensure 100% safety and quality of their constructions. By scanning and evaluating in advance any risks allows them to take measures to prevent accidents and other factors that might affect the quality of work. They strictly implement and adhere to the decree and announcements of the Ministry of Environment and the Ministry of Land Management, Urban Planning and Construction. They have safety, security, and quality control systems to ensure the accuracy during work execution. This is also in order to push sustainable development and up-to-date safety and quality management systems. The company's engineers monitor and educate workers regarding safety, hygiene and quality of working performance. In addition, the company also offers free accommodation, electricity and water, safety equipment, and health insurance to their workers. Lastly, the labor fee is paid​regularly to all workers.It’s good to note that SOMA Construction & Development Co., Ltd. offers general construction services for office buildings, hotels, factories, schools, shopping malls, and airports. The company also offers architectural design, MEP, structure,  and project management services. Although, SOMA Construction & Development has been in the construction sector for approximately 7 years, the company has already performed over 50 construction and design projects and employed almost one thousand employees including workers and technicians.If you want to contact SOMA Construction & Development Co., Ltd. Please call (+855)99 777 243 or Email: info@smcd.com.kh or go through their website: www.smcd-construction.com.khFor up to date news and information, visit our news section at Realestate.com.kh now.

Article 44 of the Constitution of the Kingdom of Cambodia implicitly states that foreigners aren’t allowed to own land in the country. However, there are many ways foreigners can buy land in Cambodia.One of this ways is buying land through a locally-incorporated company, either a limited liability company or a private limited company. And, yes, it’s absolutely legal to do so, provided that a Cambodian partner owns 51% equity.Realestate.com.kh lists down all the things you need to know and answers some of the questions that will help you get yourself set up to buy that land in no time!How is buying land through a locally-incorporated company legal?This is made possible because of the provision in the Law on the Investment of the Kingdom of Cambodia. Specifically, Article 16 of Chapter VI.It states that the “ownership of land for the purpose of carrying on promoted investment activities shall be vested only in natural persons holding Cambodian citizenship or in legal entities in which more than 51% of the equity capital are directly owned by natural persons or legal entities holding Cambodian citizenship.”But isn’t that going to be risky?As for everything, there is always some risks. But since it is legal, the only risk you’ll have is with the loyalty and truthfulness of the Cambodian partner you’ve chosen. But there are safeguards to protect your investments, position, and control over the company.For instance, the careful allocation of shares and an appropriate draft that details the rights attached to share certificates will allow foreigners to gain full control over the land. You can also secure a mortgage, a security, and a Power of Attorney document to enforce your authority over the property. Make sure to also keep possession of the registered title deed and the company license.What are the requirements from a locally-incorporated company?Setting up a company requires at least two shareholders, a director, and a starting capital of at least $1,000. Once the positions are filled in, you will need to get a corporate bank account, a real office space through a registered agent, and a local Khmer company name.What’s the process of setting up a locally-incorporated company?You’ll first need to make a deposit of $494 through an authorized bank. Make sure that the deposit slip you get will be safe and secured. Then, for $10, you will need to check for the uniqueness of the name of your company through the Ministry of Commerce. It usually takes around 5 days to get a response to the inquiry.Step two is where you obtain a CIB 01R form or a company registration form either physically via the Cambodian Investment Board or online through their website.Then, you need to get an official company seal through the Ministry of Commerce. This costs around $15.The next step is for the foreigner to publish a company abstract on a reputable and recognized newspaper. The abstract should include the memorandum, the by-laws, articles of association, name of the company, form of the company, office address, summary of business objectives, total capital in cash, term of the company, details of the director or auditor, and the location of the company’s registration. This step takes around seven days in total for approval and release.Make sure to get  2 copies of the application documents and newspaper approval as this is required when you apply for registration.Next, you’ll need to enroll the company into the commercial register of the Ministry of Commerce 30 days before the company starts commercial operations. This requires the submission of 2 copies of the declaration of non-guilty of directors, 2 copies of ID cards or the directors’ and shareholders’ passports, 2 copies of the decision for share contribution, 2 copies of the photos of shareholders and directors, 2 copies of the memorandum and articles of association, 2 copies of the newspaper publication application, 2 copies of the statement of conformity, and copies of the registration application form.After setting up and enrolling the company, you need to get its documents approved and stamped through the Phnom Penh Tax Department for around $26.Then, you have to fill out the required forms and documentation from the Real Regime Tax Office to get your official tax registration.After doing all of that, you’re now set up to operate.Are there any other obligations after setting up the locally-incorporated company?The LLC will need to register for VAT and file annual tax returns after incorporation. Also, 100% of real property costs will be shouldered by the foreigner. As an advantage, 100% of the whatever is made when the property is sold will also go to the foreigner.In addition, the company must notify the Ministry of Labor when it will start operations and when it hires or fires employees.What’s the advantage of buying land via a locally-incorporated company over leasing?There major factor you have to consider when trying to decide between Buy Land in Cambodia and lease for the long-term. With long-term leases, there’s going to be an issue of ownership after the lease expires because there are conflicting laws on it. The Land law states that the building is owned by the landowner. The Law on Investment states that the building is owned by the lessor.When you Buy Land in Cambodia and set up the proper security measures to protect it, there is no doubt that the land is yours even if it is through a partnership with a Cambodian citizen.There are plenty of other ways to Buy Land in Cambodia, but buying through locally-incorporated companies presents as a great legal option. And while it may not be convenient to set up, it will be more convenient in the long run.Check out more ways to own land in Cambodia as a foreigner on Realestate.com.kh now!

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

The Sales Club of Cambodia (SCC) welcomes to the upcoming forum all the talented people with an interest to learn and improve their sales knowledge and skills.SCC will facilitate successful and experienced salespeople to share their knowledge with the community and the young-generation, allowing ongoing professional sales skills development and the improvement of livelihoods across the overall society.On 12th March 2017, SCC will hold a dedicated forum which will focus on Real Estate Industry opportunities. This will be held in partnership with Mekong Property Management and a selection of Developers and Investors willing to share their investment and development plans with potential salespeople.For this special opportunity, we have invited 5S Realty Group, namely Mr. Chan Sy, Chief Executive Officer; & LHC (Cambodia) Investment Co. Ltd, namely Mr. Charles C. Villar, General Manager. We have also invited Mr. James Whitehead, Director of Content at Realestate.com.kh, Cambodia’s leading real estate website, to present on the potential of the Real Estate market in Cambodia today.At the end of the forum, we encourage attendees to continue their study and apply to become an independent salesperson for all projects, with significant commission opportunities without the commitments of a full time job.Find the latest real estate news now on Realestate.com.kh

Russei Kaev district saw the growth of both residential supply and demand which helped transform the district into a housing hub in 2016. This was while the urban expansion of many different suburban parts of the capital accommodated the rapid growth of the population in the city.2016 saw the rise of 1,174 units at the Russei Kaev district. The majority of them were link-houses. They account for 96.7 per cent or 1,135 units of the housing market supply, according to VTrust Appraisal’s report released recently. The report also showed that semi-detached houses accounted for 10.2 per cent (279 units), whereas single-detached houses accounted for 2 per cent (54 units) of the total housing completion the same year.The report shows that as of 2016, Chrang Chamreh Ti Muoy takes 21 per cent or about 2,544 units of the total cumulative housing market supply; Chrang Chamreh Ti Pir with 4 per cent or 465 units; Kilomaetr Lekh Prammuoy with 25 per cent or 3,085 units; the Russei Kaev commune with up to 29 per cent or 3,574 units; Svay Pak with 5 per cent or 597 units; and Tuol Sangkae with 16 per cent or 2,004 units.“As of today, the Russei Kaev district is home to a cumulative supply of 12,200 landed housing units – with 86 per cent complete, while some are under construction – clustering in different communes of the district,” the report stated.Hoem Seiha, director of Research for VTrust Appraisal Co., Ltd., said that the total number of units that had been sold is at 84 per cent and the rest of the units had just come into the market. So, they need time to sell. Seiha says the reason they chose the Russei Kaev district was because their study showed that it has a good housing market. “The landed cluster housing market in Russei Kaev district grew strongly within the past five-year period. There has been an average of 1,600 launches of new units coming into the market yearly from 2012 to 2016. There’s also going to be around 2,800 and 3,380 units that will be come to completion by 2016 and 2017, respectively,” Seiha said.VTrust Appraisal’s research also found that the average list price for purpose-built shop houses across Russei Kaev district is $161,100 per unit and sold at an average of $155,600 per unit. Link-houses were listed on average at $109,800 per unit and sold at an average of $105,400 per unit. Semi-detached houses were listed on average at $195,700 per unit and sold at an average of $178,800 per unit. Single-detached houses were listed on average at $643,000 and sold at an average of $595,500 per unit.Chrek Soknim, CEO of Century 21 Mekong, said the reason the housing market is still seeing growth is because it is supported by the banking sector. The housing demand saw an increase of interest from newlywed couples and middle-income earners as well.“Because the district of Russei Kaev is adjacent to the capital’s central business districts, it has now become a residential hub where residents can access the business centers easily and immediately, compared to the far west districts of the capital,” Soknim said.Borey Peng Huoth, Borey New World, and Borey Rith shared the second largest market share in the district, reaching up to 9.1 per cent, 8.9 per cent, and 8.4 per cent – approximately 1,120 units, 1,102 units, and 1,035 units – respectively. Nevertheless, there were also various projects that had fewer than 400 units, collectively sharing up to 39 per cent or 4,787 units of the total cumulative market supply. 84 of which were totally completed as of the date of reportingRussei Kaev district is one of Phnom Penh’s 12 districts. It is administratively subdivided into 6 communes. Namely, Chrang Chamreh Ti Muoy, Chrang Chamreh Ti Pir, Kilomaetr Lekh Prammuoy, Ruessei Kaev, Svay Pak, and Tuol Sangkae.In total, the Russei Kaev district is currently home to an estimated 180,000 residents.This story was featured in the January 2017 print edition of PROPERTY VIEW magazine, produced by the CVEA.Realestate.com.kh is very proud to support the CVEA’s Property View publication. For more information about joining the Cambodian Valuers and Estate Agents Association (CVEA) please click here. And, if you are interested in advertising placement or advertorial in the next edition of Property View Magazine, please contact Mr. Virith via email:virith007@yahoo.com Or call: 078 959 567  or 098 66 26 68Find  out the latest real estate news on Realestate.com.kh!

Vann Molyvann, considered the founder of the modern Khmer architecture, completed nearly 100 projects both nationally and abroad between 1956 and 1970. The impact of his architecture is felt around numerous corners of the Kingdom - with many still applauding his architectural style.Ms. Tri Lida from Re-Edge Architecture & Design refers to Molyvann as “the father of Cambodian architecture” - holding a “unique ability to incorporate Khmer style with natural elements, creating sustainable buildings where the air and sunshine flow from the inside out.”Some of Molyvann’s most significant projects are the Independence Monument, the National Olympic Stadium, the Royal University of Phnom Penh, the Chaktomuk Conference Hall, Preah Suramarit National Theater, the Council of Ministers building and the State Palace in Chamkarmon – now the place of the Senate.There are also several of his projects which are less known by the general public; such as the stupas within the Royal Palace, the Kantha Bopha Hospital, the first Siem Reap airport and the pavilions and temples for the 2,500th anniversary of the Buddha.Aside from the many projects he completed within the Kingdom, Molyvann also worked on projects abroad such as the Exhibition Hall for the International Trade Fair in Osaka, Japan, the Exhibition Hall For the International Trade Fair of Zagreb, the Exhibition Hall at the International Trade Fair of Brno, Czechoslovakia, and the Exhibition at the Galleries Lafayette in Paris.However, when asked his most loved architectural projects, these are all national - although not all are still in existence: “The ones I love the most is the National Olympic Stadium and Preah Suramarit National Theater on Bassac in Phnom Penh. There are many other projects I was fond of, but unfortunately some of them have been replaced​ by new buildings or were destroyed,” said Mr Molyvann.The demolition of old architecture is a recurrent issue in Cambodia, which the photo expert and owner of the “Amazing Cambodia” photo archives, Mr Srin Sokmean, has likewise noted: “It is a great pain to witness those architectural heritages disappear one by one. I always question myself why they are destroyed and not suitably renovated.”This is what pushed him to produce a vintage photo collection book named “Cambodia: Half Century Then & Now” which aims to enable people to visualize the beauty of Cambodia in the past and how the current landscape has been modified. On top of this, Sokmean has a popular facebook page and blog demonstrating his collections of photography. “I strongly believe that redecoration is the best option, because each building has its own attractive point. Development and architectural conservation need to go together” he added.“Old buildings are not always useless; instead they can be perfectly converted into museums, art galleries, boutique hotels or other amenities,” he concludes.And Sokmean is not the only one trying to preserve national heritage via media platforms. Mrs. Teav Bandol of Image Printing also shares a similar concern that, “during development, many countries face the dilemma of whether to preserve or replace heritage buildings to give space for new development; sadly most countries choose the latter. Cambodia is no exception.”She continued, “It should not be destroyed but preserved. Both old and new architectural work must be kept in its place in order for the public to witness the evolution from one generation to another. Doing so will help us to preserve the national identity and maintain sustainable development.”With that in mind, Image Printing is planning to re-publish some books detailing Vann Molyvann’s works in order to ensure his contributions reach the next generation.Bandol mentioned that the publication of these books are not just for the purpose of preserving Van Molyvann’s buildings – but it’s also “a demonstration of intelligence, knowledge and innovation in the architecture industry - which is a good example for the new generation to follow.”“Moreover, we cannot regain a building that was destroyed, but we can save every document for next generations,” she concludes.Find the latest real estate news on Realestate.com.kh

As “ADB predicts a rosier growth for Cambodia in 2017”, developers are slowly jumping on to the opportunity to both make a profit from it and also contribute to the country’s economic growth – specifically in the construction and real estate industries. Take this with Cambodia’s upgrade to a lower-middle income status, you get a new set of up and coming luxury developments! And one of these is the Orkide Villa. But just what exactly does this villa have to offer when compared to the multitude of projects being constructed? Realestate.com.kh digs deep to show you what!Deriving from the inspiration of the name itself, Orkide Villa is set out to become Chroy Changva’s “Botanic City,” using elements that are both innovative and familiar to customers who wish to purchase units on the project. Its design is a play on modern architecture intertwined with Cambodia’s natural greenery – offering a taste of both worlds. It’s sort of similar to the Supertree Grove at the Gardens by the Bay in Singapore. Meanwhile, its interiors are also going to be lavishly decorated with current but timeless fixtures, fittings, and colors. The main color palette being black, brown, gold, green, and white.The project will have two villa types. Namely, the Grand Villa and the Twin Villa. The Grand Villa will have a total of 3 floors, 1 master bedroom, 5 bedrooms, a family room, a dining room, a kitchen, 2 maid rooms, a store room, a laundry room, a car park, a children area, and 9 bathrooms. Meanwhile, the Twin Villa contains a master bedroom, 3 bedrooms, 6 bathrooms, a dining room, a kitchen, a living room, a store room, a laundry room, and 2 car parks.The Orkide Villa is also located in a safe area where there is both peace and 24-hour security. Schools, shops, and other establishments also line the area for easy access. These include a Caltex gas station, Chenda Shop, VegeFresh Supermarket, Unicaffee, Sdok Pravoek, Dary Sports, Pro’s Auto, Heng Siden, and Bamboo Finance PLC.It’s also relatively easy to move around as the project’s close to public transport and main roads like the Phnom Penh Hanoi Friendship Boulevard.To top it off, The Orkide Villa has come highly commended as one of the best housing developments in Phnom Penh during the 2016 Cambodia Property Awards, further solidifying its spot as one of the country’s best investment properties.So, if you’re trying to look for either an investment or a purchase property for the long-term, it’s worth looking at some of the units at The Orkide Villa!Take a look at similar projects on Realestate.com.kh!

The Cambodia Real Estate Show, powered by realestate.com.kh, saw over 3000 local and international investors flock through the Grand Ballroom doors of NagaWorld Hotel last weekend, Friday & Saturday.The country's leading developers benefited from thousands of sales leads generated over the two days; and a staggering 30 deals were converted onsite at the show - equating to over 3 million US$ in total property value.Developers also booked a high number of site visits, showroom tours, and gained hundreds of serious leads to follow up in the coming weeks after the show. Three lucky buyers also won international flights packages, thanks to the airlines sponsor Cambodia Angkor Air.40% of those who attended the event were Chinese, or Chinese speaking; 20% were mixed internationals; and 40% were Khmer nationals. As Cambodia’s leading property classifieds website, the turnout of the show represents the targeted audience of the Realestate.com.kh website and related media channels.“The Creed Group, presenting 3 projects at the show - Bodaiju Residences, Borey Maha SenSok and Arata Garden Residences - achieved a great result: 21 unit bookings and reservations for current selling projects and the upcoming project, Arata Garden Residences,” confirmed Ms. Kelly, Deputy Sales & Marketing Director at Creed Group.Ms Intan Kosem, developer of Habitat Condos, said that, "We were very delighted to present Habitat Condos at the show. In fact, we sold one unit to an overseas buyer which we met at the show - and we also generated various other sales leads and property visits from the event. We look forward to the next show!”“We were very satisfied to be a part of the inaugural Realestate.com.kh Cambodia Real Estate show at NagaWorld. The event enabled our team to generate a significant number of direct sales and many good quality leads for prospective buyers. We are looking forward to the next event organized by the Realestate.com.kh team,” said Mr Laurence Hamilton, Vice President of NC Max World Real Estate Development/Brokerage who presented new projects such as The View and East One Apartments at the show.Mr. Piseth Seng, CEO of LK Development Group - developer of The Elements project, stated that, “The Cambodia Real Estate Show at NagaWorld was beyond our expectations! Realestate.com.kh delivered what was promised to the exhibitors. We met so many potential buyers and the high-value investors that we were looking for. We are sure that this Real Estate show is here to stay in the market and we are proud to continue to work with Realestate.com.kh into the future.”In addition, the show provided a very insightful series of seminars from some of the most respected figures of the local and international industry. All of these presentations and video seminars are available for viewing on www.realestate.com.kh/news in the coming days.Porsche and Mercedes Benz were also at the show - allowing visitors to test drive some of the hottest cars on Phnom Penh’s streets from the valet parking area of NagaWorld.The Show would not have been possible without its dynamic sponsors: Last Mile Works VR, Seara Sports Systems, Ezecom & Cellcard. A big thanks goes also to our trusted Official Media Partners: Business Cambodia, Bizkhmer, Khmernavi/Enjoy Cambodia, Sin Chew Daily, B2B Cambodia, Amcham, Britcham, Cambodia Constructors Association (CCA), Cambodian Valuers and Estate Agents Association (CVEA), PropertyGuru, Property Report, Asian Property Review, PropertyGuru International, Juwai.com, the Khmer Times and La Reine. “Our real estate show simply closed the gap between the investor and the opportunity,” comments the ceo of Realestate.com.kh, Mr Thomas O’Sullivan. “When investors from throughout the region arrived in Phnom Penh for our real estate show, they were able to feel, smell and touch Cambodia; they saw the drastic changes happening here in terms of construction and real estate development. They also came to understand the infrastructural improvements that are transforming the country into an economic hub. This exposure to Cambodia gave many the confidence to invest in property at the show,” concluded O’Sullivan.After the success of the first ever Cambodia Real Estate Show, Realestate.com.kh is already planning for an even bigger and more comprehensive Real Estate Show within 2017.Find the best real estate news on Realestate.com.kh

The Cambodia Real Estate Show is on this week!Friday and Saturday, 5&6 May @Nagaworld Hotel (Grand Ballroom Level 2), 10:00AM -> 6:00PM.+ 20+ new projects on show+ Educational seminars from leading economists, agents and lawyers+ Win international flights from Cambodia Angkor Air+ Exclusive car test drives with Porsche and Mercedes.FREE ENTRY - NO REGISTRATION REQUIREDBring your friends, family and network to Cambodia’s one and only Real Estate Show, powered by Realestate.com.kh!REGISTER NOW FOR SHOW UPDATESThe intention of the Cambodia Real Estate Show 2017 is to promote Cambodia and the Cambodia real estate industry both locally and internationally. Realestate.com.kh is bringing together a collection of the nation’s finest new projects, as well as other businesses that influence and play a role in the market.During the 2 days of the show (this Friday and Saturday), attendees will also be able to watch various educational seminars which will assist property buyers and investors understanding the market, the legal obligations of property ownership, and to help them to make educated decisions when purchasing real estate in Cambodia.Topics at the Cambodia Real Estate Show will include real estate law, ownership regulations, tax obligations, analysis of investment locations across Cambodia, property management considerations, and various other pertinent topics.The seminar room at the Cambodia Real Estate show is free for all guests to join. All speakers will also take questions from the audience following their presentations.The detailed schedule for the seminar sessions on Friday and Saturday is as follows:Seminar Schedule Day 1 - May 5, Friday:Economic Growth Prospects in Cambodia: The Gateway to the ASEAN Region (12:30PM - 1:00PM)Sok Siphana, Managing Partner at SokSiphana & Associates, a member of ZICOLAWCambodia, Transition from ‘Live Era’ to ‘Life Era’ (1:00PM - 1:15PM)Anita Cui, Deputy General Manager of GREDvKirirom Project Development (1:15PM - 1:45PM)Takeshi Izuka, President of vKirirom ProjectForeign Ownership in Cambodia: Regulations and Practice (2:30PM - 3:15PM)Matthew Rendall, Managing Partner at SokSiphana & Associates a member of ZICOLAWIntegrating Security to Increase Property Value (3:15PM - 3:45PM)Athanasius Pang, Managing Director - Trivox Global Security Group; Brand Principal of DL EdvanceHow Singaporean Investors View the Cambodian Market (3:45PM - 4:30PM)Jo Chua, Head of International Developers Business for PropertyGuru GroupTax for Investors: Real Estate Tax Considerations for Cambodian Property Owners (4:30PM - 4:45PM)Anthony Galliano, CEO of Cambodian Investment Management (CIM) GroupThe New Landscape of Property Management in Phnom Penh (4:45PM - 5:15PM)Benny Tan, Principal Consultant at SC CapitalSeminar Schedule Day 2 - May 6, Saturday:Consumer Trends in the Cambodia Real Estate Market (1:30PM - 2:00PM)Tom O’Sullivan, CEO at Realestate.com.khIndustrial Property & SEZ Investment in Emerging Markets & The Benefits of Manufacturing in Cambodia (2:00PM - 2:30PM)Edmond Lim, Project Head, Cambodia PropnexInvestment Opportunities in Chroy Changvar (2:30PM - 2:45PM)Leang Ki, Sales Manager - Highland CondominiumOpportunities for Investment in the vKirirom Project (2:45PM - 3:00PM)Takeshi Izuka, President of vKirirom ProjectSihanoukville Rising: Cambodia’s Coastal Development (3:30PM - 4:15PM)Christophe Forsinetti, Chief Operating Officer KC JSMRealise the Untapped Potential of the Indochina Property Market (4:15PM - 4:30PM)Johnny Chan, Sales & Marketing Director at Creed GroupManaging Your Asset: Property Management Considerations for Investors (4:30PM - 5:00PM)Simon Griffiths, General Manager for Asset Management Company Metro GlobalCross Border Data Penetration and Market Verticals for Real Estate (5:00PM - 5:30PM)William Lai, Principal Consultant at SC CapitalDownload the full schedule here.The Cambodia Real Estate Show is on this week!Friday and Saturday, 5&6 May @Nagaworld Hotel (Grand Ballroom Level 2), 10:00AM -> 6:00PM.+ 20+ new projects on show+ Educational seminars from leading economists, agents and lawyers+ Win international flights from Cambodia Angkor Air+ Exclusive car test drives with Porsche and Mercedes.FREE ENTRY - NO REGISTRATION REQUIREDBring your friends, family and network to Cambodia’s one and only Real Estate Show, powered by Realestate.com.kh!REGISTER NOW FOR SHOW UPDATESNEED MORE INFO OR ASSISTANCE: +855 17 436 756 / +855 69 436 756 info@realestate.com.khFind the best real estate news on Realestate.com.kh

Minister of Transport Truong Quang Nghia, and Sun Chanthol, Minister of Public Works and Transport, Cambodia on April 25 signed a memorandum of understanding on construction of HCMC - Moc Bai and Phnom Penh - Bavet expressways.This memorandum is part of the four important documents signed during the official visit by Prime Minister Nguyen Xuan Phuc visited Cambodia on 24 and 25 April. A distance of 65 kilometers from Ho Chi Minh City to Moc Bai international port will be built by the Vietnamese side, while Cambodia will implement the 130-kilometer Phnom Penh - Bavet section with funding to be provided by Japan.Cambodia and Vietnam have agreed to jointly invest in the highway linking Ho Chi Minh City and Phnom Penh in order to facilitate road transport between the two countries.The high-way road will play a significant role in the connection to the regional economy and in particular to facilitate international trade and in particular the ASEAN Community.The two countries also agreed on a partnership in infrastructure development in recent years to connect two bridges of the respective countries:  Thom bridge and Long Binh bridge.For up to date news and information, visit our news section at Realestate.com.kh now.

Cambodia is increasingly becoming the focus of international property investors from across the ASEAN region, China and the world. Compared to neighboring countries in the region, Cambodia is offering freehold foreign ownership and strong investment growth prospects.While those living in Cambodia are well aware of the fast changes happening in regards to real estate, construction and infrastructural development in major cities such as Phnom Penh, Sihanoukville and Siem Reap - many internationals have little understanding of the quality of real estate now available in the Kingdom and the investment potential for those purchasing property here. Thus, in order to accommodate this growing appetite for Cambodia property, Realestate.com.kh has organized the most focused real estate exhibition event that the country has ever seen.With almost 30 real estate developments exhibiting over the two days, “The Cambodia Real Estate Show,” sponsored by Last Mile Works, Seara Sports Systems, and Ezecom, will demonstrate the finest property investment opportunities currently on offer across the nation.Mr. Tom O’Sullivan, CEO of Realestate.com.kh, said that, “The intention of the Cambodia Real Estate Show 2017 is to promote Cambodia and the Cambodia real estate industry both locally and internationally. We are bringing together a collection of the nation’s finest new projects, as well as other businesses that influence and play a role in the market.”“During the show, attendees will also be able to watch various educational seminars which will assist property buyers and investors understanding the market, the legal obligations of property ownership, and to help them to make educated decisions when purchasing real estate in Cambodia,” said O’Sullivan.  “Furthermore,” continues O’Sullivan, “a real estate show closes the gap between the investor and the opportunity. When investors from throughout the region and world arrive in Phnom Penh for our real estate show, they will feel, smell and touch Cambodia; and they will see the drastic changes happening here in terms of construction and real estate development. They will also understand the infrastructural improvements that are transforming the country into an economic hub. This exposure to Cambodia will give them confidence to invest in property here.”O’Sullivan concludes, “People buy property in countries they love - and at Realestate.com.kh, we are confident international visitors to our real estate show will soon fall in love with Cambodia.”There will be a variety of seminars during this 2-day event. Speakers who will share key information to attendees include Sok Siphana, Managing Partner at Sok Siphana & Associates - a member of ZicoLaw; Matthew Rendall, Senior Partner at Sok Siphana & Associates - a member of ZicoLaw; Anthony Galliano, CEO of Cambodian Investment Management (CIM); Athanasius Pang, Managing Director Trivox Global Security Group - Brand Principal of DL Edvance; Jasper Shin, Developer and Real Estate Agent Consultant; Christophe Forsinetti, Chief Operation Officer at JSM Indochina; Simon Griffiths General Manager at Metro Global Pte Ltd;Takeshi Izuka, President of vKirirom; Jo Chua, Head of International Developers Business for PropertyGuru Group; Benny Tan, Principal Consultant at SC Capital; Tom O’Sullivan, CEO at Realestate.com.kh; and William Nai, Principal Consultant at SC Capital.Developers exhibiting at the show include: The Creed Group, Camhomes/HLH Group, Royal HM Trading, Sky31 Condo, Habitat Condo, CORE PPSEZ, vKirirom, HighLand Condo, GRED/ One Park, The Elements Condo, Skyline, Golden One, SC Capital, SkyTree Condominium, NC Maxworld Real Estate & Development, Sing Meng Telemedia, The Parkway condo, Porsche, Mercedes-Benz, Eastland Development, Cambodian Investment Management, the Penthouse Residences, J Villa, South East Asia Property Services (SEAPS) and Vital Water.Local and international media partners have been a key to the success of the event so far - as now the Cambodia Real Estate show has over 3000 registered attendees expected over the 2 days.  Our gracious thanks to media partners for the event: Business Cambodia, Bizkhmer, Sin Chew Daily, B2B Cambodia, Britcham, Amcham, Cambodia Constructors Association (CCA), PropertyGuru International, Cambodian Valuers and Estate Agents Association (CVEA), Juwai.com, PropertyGuru, Property Report, Asian Property Review, the Khmer Times, La Reine, and Khmernavi/Enjoy Cambodia.Realestate.com.kh would also like to offer our sincere thanks to our event sponsors: Last Mile Works, Seara Sports Systems, and Ezecom.Those that join the show and purchase a property on the day will also have the chance to win a variety of lucky draw prizes. Thanks to Cambodia Angkor Air, the official Cambodia Real Estate Show airlines partner, we will also be giving away free flights to China and Vietnam.Save the date on your calendar! The Cambodia Real Estate Show will be held on the 5th and 6th of May 2017 on the second floor grand ballroom of the NagaWorld Hotel in Phnom Penh. The show will run from 10am until 6pm each day (Friday & Saturday). Admission is FREE for all attendees and is totally open to the public with no ticket or registration required.Register here for FREE:https://realestatekh.leadpages.co/cambodia-real-estate-show-2017-attendees/   Find the best real estate news on Realestate.com.kh

Despite the huge growth in the Cambodia real estate industry, there are still many operators that are conducting real estate scams and misinformation for a quick profit. Here is a list of the most common scams in the market, thanks to Realestate.com.kh. If you ever think you might be getting scammed, seek professional legal advice!Property in Cambodia: scams to avoidFalse owner:This scam involves someone pretending to be the owner of a property. These properties are mostly vacant properties. What you can do is ask or have someone ask the neighbors and village chief about the property and its history and owners. Then cross-check whether there are discrepancies with their stories and the seller’s story. Again, a title check is crucial – if the owner can’t produce the title, something is wrong. Go to the relevant authority and find out whether or not they are the real owner before you give them any money.Pre-selling Scam:This is when a so-called developer advertises a new project and collects money that they say they’re going to use for construction, and then they suddenly vanish into thin air. This might be a landed housing project, a borey project, a plot land venture or a condo development.This can be avoided by doing a thorough background check on the developer’s previous projects. Trusted developers usually already have a good track record. Note, this doesn’t necessarily mean that new developers are scammers.You can also try looking for news articles regarding the development project from major and trusted publications. They mostly indicate prior achievements by the developer and whether it’s been approved or not. Take note though, positive media coverage should not be relied upon solely – as it is not full proof.You can verify with the involved ministries as well – such as the Ministry of Land Management, Urban Planning, and Construction – if there are any approvals and certifications in place for the developer. They should have a company license for their development company. They should also have a master hard title for the land on which they are developing, a license for the development including a master plan of the full development from start to finish, and they should have a construction license. If the developer won’t present these things when asked, this is a clear warning sign. If you can’t buy with a hard title, or a strata title for high rise units, this is a clear warning sign.Want to learn more about how you can make money by investing in real estate wisely? Get on Realestate.com.kh today, the best source of information for property buyers & Sellers in Cambodia.