Many investors, international and local, are purchasing condominiums in Cambodia, pre-sale, under construction/off plan, direct from the developer. When they do so, they enter into a sales and purchase agreement with the development company. Upon signing this SPA agreement, the condo is purchased and both parties must fulfill their full obligations in terms of payment and delivery of the finished condo unit.  However, there is some current confusion regarding whether or not a Cambodian Lawyer or Notary must also sign as witness to such agreements.This confusion exists because commonly these sales and purchase agreements only stipulate that there is a co-signing “witness.” “Party A” and “Party B” have signed being “Buyer” and “Seller”, and there is also a place for a “witness”. Hence the question begs: Is it a requirement by Cambodian law to have a lawyer or notary to sign in this witness section?And, if it is not a requirement to have a qualified witness, is it still safer to have a lawyer or notary sign instead of a civilian?The answer to this is as follows:The Law on the Implementation of the Civil Code sets out certain requirements for the execution of real estate contracts:Pursuant to Article 9, in conjunction with Article 336(2) of the Civil Code, a contract that transfers ownership over immovable property only comes into effect when such contract is made by a “notarial document”. Article 9 of the Law on the Implementation of the Civil Code clarifies that a notarial document is either:1) Made by a notary, or; 2) A privately-produced document authenticated by a notary, and dated and signed by the notary after the authentication; or; 3) A document made by a competent officer for registration process. As there are a relatively small number of official notaries in Cambodia (only around 20), in practice, Cambodian lawyers often serve as witnesses to real estate agreements. One more thing to remember is that under the above laws, there is some uncertainty still as to whether the actual land sale and purchase agreement must be notarized or whether the notarization requirement would only apply to the Vente Definitive land transfer form (which is the official land transfer form signed by the seller and buyer, and which can be made by a competent officer at the land office).So, in short, to be safe - make sure you have a registered Cambodian lawyer or notary present when you sign you sales and purchase agreement, and have them sign at the witness.By signing without this authorized witness, your SPA agreement could be considered void at the later date. Please seek legal advice when undertaking real estate and property transactions in Cambodia, and use their experience to your advantage. If you need to be put in touch with an experienced Cambodian lawyer - contact us today!Learn more about investing in Cambodia in our authoritative investor guides.

Today we are at the “TK Royal One” showroom on Russian Boulevard with Mr Chenyi Chiu, General Manager at TC Royal Manor Asset Management. We will learn more about this exciting project.Tell me about the location:TK Royal One is located in the prime location of Phnom Penh city center right on the National Russian Blvd in front of the Royal University of Phnom Penh. In the center of Toul Kork district, TK Royal One is surrounded by various facilities, retail shops, financial institution, schools, hospitals and government agencies which really offer very convenient lifestyle for foreigner and local people. Who is this development for? What sort of buyers?TK Royal One is a class A mixed-use commercial and residential high-rise building in downtown Phnom Penh. The development targets not only the international investors but also local Cambodian who are looking for the modern work and life style with safety and privacy.Talk me through the main features, why should a new home buyer consider this development?TK Royal One is designed with a mixed-use concept with 4 stories of office units, 14 stories of residential units, 4 stories of plenty basement car parking and more than 2000m2 of common facilities including swimming pool, fitness center and hotel like reception lounge. This rarely seen building in the downtown center provides not only the convenient modern lifestyle but also provides the excellent safety and privacy feature for the home owners who.What is the quality of the builder, architect, finishes?TK Royal One was developed, designed, constructed and managed by a group of experienced global team from Taiwan, France, American and Korea. The construction of TK Royal One follows the international standard in terms of structure, fire fighting, mechanical & electrical system and construction safety. Besides that the exterior and interior finishes is designed with modern serviced apartment concept. What types of units are available, at what price ranges?There are only 3 types of residential units available with luxury 2 bedrooms, standard 2 bedrooms and elegant one bedroom ranging from 60m2 to 128m2 starting from $190K per unit.What investment potential is there?Investment in Cambodia is currently at right timing under its fast GDP growing period. With the fast growing foreign direct investment (FDI) from global investors, the Capital Phnom Penh is now transforming into a modern city which will have high demand of modern high-rise building. TK Royal One offers right for the demand for local and international investors.How are the sales to date?Right after our sale launched in March, 2015, within 3 months, all our office units were sold out. And up to now, our residential units only standard 2 bedrooms are still available. We have proved to the market that our project has gained the trust and reputation from the international investors and local buyers. What is the one question I should have asked you about this development that I haven’t?Why the building with international grade is so valuable to TK Royal One and the high-rise building market in Phnom Penh?Although the high-rise building market just get started since 2010, the increasing population from overseas and local in Phnom Penh has created the high demand in the high-rise building market. However, there are very rare high-rise building currently available in the Phnom Penh meeting the international grade and standard. The high-rise building with international grade and standard not only defines the future value of the building but also offers the real safety to the homeowners or tenants. TK Royal One is the now leading project in Phnom Penh which truly offers the international grade features. With this, TK Royal One has established a great model and example for bringing the Cambodia high-rise building market sector to the next level.Thanks for joining us, and check out the full listing on Realestate.com.kh today.

Having received a recommendation from H.E. Chea Sophara, Minister of Land Management, Urban Planning and Construction, the Cambodia Constructors Association (CCA) in collaboration with the Ministry of Urban Planning and Construction will pioneer a regional tour study in order to learn and gather more experience from neighboring countries, such as Thailand and Vietnam, regarding construction worker rules and regulation, on-site safety standards, site management and security. The intention is to learn from experience and raise the market standards in Cambodia.The purpose of this visit is as follows: 1. A study tour by bus, which will be attended by the managers, supervisors, engineers and designersof active construction and real estate companies in Cambodia. The mission is to observe and monitor new technology, and construction and site management in the Cambodian provinces bordering Vietnam and Thailand. 2. To get experience and exchange ideas about the construction sector between private and public institutions, from Cambodia and neighboring countries, with follow up meetings every 3 months to track progress. Participating members can pick up knowledge on different subjects or technical challenges associated with construction using new technology. The experience of each company that is shared during this tour and following meetings will contribute to the development of the country's construction sector, and ultimately allow it to become more abundant and sustainable into the next years. It should also benefit the well-being of those who work in this industry, whether management or construction worker on site. If you or your company interested in joining this tour, please contact us Mr. Vutha today on Tel: (855) 60 888 944 | 10 94 76 40 or Email: vuthatim01@gmail.com

Realestate.com.kh caught up with Mr George Kachmazov, founder and managing partner of Tranio.com, an online overseas property start-up. Kachmazov is a respected real estate and investment expert, as well as a keynote speaker at many national and international property conferences, and regularly contributes to print and online media with insight on real estate trends and advice for first-time investors. We know there is a large population of Russians in Cambodia. Are Russian's interested in the Cambodian property market now? If not yet, what might be attractive about Cambodia for property investment for Russian buyers? It’s true that there are many Russians who spend winter seasons in Southern Asian countries, including Cambodia, Thailand and Vietnam. Many of them rent out their Russian apartments and rent homes in Asia. We have had enquiries for apartments and townhouses in Sihanoukville in 2013–2014, but demand on Cambodian real estate is very low compared to other countries.There are several things that might be attractive about Cambodian property: low taxes, low prices, relaxed lifestyle, friendly people, new experiences. There are Russians who see drawbacks, though: lower market transparency (compared to Europe) and Cambodian property ownership restrictions for foreigners (they are not allowed to own land).What other ASEAN regional countries are attracting attention from Russians? We see interest in Thailand and Vietnam. In the whole, ASEAN countries are more popular among far-eastern residents of Russia because of the distances. For example, our research shows that people from the Vladivostok region (east of Russia) are three times more interested in Thai property than Muscovites who prefer to buy property and spend holidays mainly in Europe because it’s closer. How can a Cambodian property seller make their property more attractive to potential Russian buyers? what features are they particularly interested in? what terms of sale etc?Be trustworthy and convincing. Russians are often skeptical and ask for substantial facts and proofs. They tend to be in doubt: “Why should I work with this seller? Should I purchase this property or wait until I find something better?” This often results in prolonged or delayed transactions. Also a Cambodian property seller needs to be open and transparent, because Russians are afraid of scams. If you sell residential property for buyer’s own use, sell lifestyle and emphasise aspirational features of a property and location. Unlike many Westerners, Russian buyers tend to buy more on emotion and less on price. As for features, Russian lifestyle buyers prefer houses and apartments in a close proximity to beaches, and sea view may be demanded. Do support and advice at all stages.   What are the most popular locations for Russian investing overseas?Judging by the number of enquiries on Tranio.com in Q1 2016, the most popular countries are Spain, Germany, Italy, Montenegro, Czech Republic, Finland, Austria, Hungary, France and Slovenia. Spain has maintained absolute leadership during the last several years, and buyers stay attracted by relatively cheap property (prices dropped by 40% in seven years), sea and warm climate. Germany, strongly placed as number two, is preferred by those of our clients who want to invest in rental real estate, diversify investment and protect capital from Russian risks. What type of properties are they Russians usually seeking abroad? A big proportion of clients buy apartments by the sea for their own use – either to spend holidays overseas or to move permanently. This kind of buyers are active in Spain, Italy, Montenegro, France and Turkey. Since 2014, we are working closely with clients who want to invest in real estate rather than spend money on holiday villas and flats. This kind of buyers tend to purchase residential property to rent it out (according to our research conducted in 2015, 63% of respondents in commercial property market choose rental apartments). Mini-hotels are also popular (21% of respondents), as well as rental blocks of flats (16%).What are some facts and figures on total outward investment in property by Russians?Investment into overseas property was gaining in popularity since early 2000s. 2012–2013 showed a considerable increase in the number of Russian-speaking clients. In many countries, including Spain, Bulgaria, Latvia, Turkey and Montenegro, Russians took leading positions in the residential property market. But after 2014, when the ruble had plummeted, investment volumes decreased dramatically. In 2012–2013 Russians invested in property overseas more than 400 thousand dollars every three months, and in 2014–2015 about half as much. According to the Russian Central Bank the volume of transfers was down 30% year-on-year, checking in at just 199 million dollars, compared to 281 million dollars in Q1 2015 and 484 million in Q1 2014.Not only is the investment volume is shrinking, but so are buyer budgets. On the other hand, we have noticed a growing demand on investment property, particularly in terms of income-generating buy-to-let residential and commercial premises. Also our clients become more and more interested in development projects.What are the key motivating factors for outward real estate investment for Russian buyers?Five-six years ago, Russians were motivated by a “superplus” of money, they had enough liquidity to invest into seaside resort villas and enjoy European lifestyle. Between early 2014 and May 2016, the US dollar rose against the Russian ruble by over 80%. So, property overseas became much more expensive for people who earn income in rubles. The main motivations for Russian buyers now are extremely low mortgage rates in Europe and opportunities to invest money into safe, low-risk markets. Why is online marketing so important for international property buyers?According to National Association of Realtors of the US, three quarters of buyers start searching for property by looking at Internet listings. Word of mouth simply isn’t enough, every real estate company has a website, and it’s essential to promote it and raise its visibility in search engines so that potential buyers would be able to find it among thousands of other sites. Since 2014, we’re promoting the English version of our website, Tranio.com. Today at least 5% of our audience are clients from Europe, Asia, America and the Middle East, and their share is constantly growing.Tell us more about Tranio: Tranio is an international real estate broker. We help our clients buy and rent property directly from foreign agencies and developers without extra charges and unnecessary intermediaries. We are not just a real estate website because we provide support and advice at all stages of selecting and buying a property, and we are not a traditional real estate agency either, because we have about 500 partners all around the world, and we do not favour any particular agency or developer at the expense of the others. Also we publish news and reports on property overseas and give an expert advice. In 2013–2016, we closed 500 deals. How long has Tranio been around? What inspired it? We’ve been on the market for six years. After my family had bought a second home in Croatia in 2010, I had an idea to create a real estate business. I saw potential in this segment, as there were many clients, a lot of interesting products, and low competition in Russia compared to the vast market capacity. We started to design and develop the website in 2010, and launched the full working version in March 2011. At first, we planned to monetize the website the same way most real estate sites do — by selling advertising and paid listings. But very soon we disliked the idea because abundant advertising always makes a website less user-friendly and lowers its quality. In 2012, we changed the mode of monetization and became a mix of Internet portal and real estate agency. We were selling second homes by the sea and helping people spend their money on lifestyle. In 2014, we launched the English version of our website, started working with international clients and sell buy-to-let commercial property. The change in business strategy helped us not only survive the crisis but also rise sales volumes despite decreasing demand on real estate overseas. As the crisis hit the Russian market in 2014–2015, we changed our strategy once more. We saw investors rising their yield expectations as yields were falling gradually in every European country due to high demand and relatively low construction volumes. We understood that the only way to earn money in today’s market is to invest it into projects of added value, namely into redevelopment and renovation projects, and we started to offer them in 2016. Our next goal is to create our own redevelopment project. We are planning to find investors, purchase a multifamily building in Spain, renovate it, create micro-apartments and sell them to end users who will either use units themselves or rent them out. At the same time, we will go on expanding the share of international property buyers in order to protect our business from Russian risks. Some other articles George has recently contributed to: Five reasons why guaranteed high yields don’t exist ; Russian crisis breeds a mature generation of property investors ; How property plays a role in balanced pension investments ; Buy-to-let investments in Germany are a boon for small budgets ; Risks: macro and micro pitfalls in property investment strategies ; Overseas Investors: Tricks To Financing Your Property Investment In Europe

CBRE Cambodia’s recently released report outlines the details of the changes that Phnom Penh experienced throughout the 1st quarter of 2016. The report includes data and analysis gathered from the increasing activity in the land, condominium, office, retail, and serviced apartment markets.Phnom Penh Land Q1 2016Despite a bleak outlook on land prices which is expected to decrease by the end of the year, the land price index has shown a significant increase during the first part of the year all throughout principal districts. Land prices have gone up by an average of 4.8 percent during this time as well. The report also notes that prices in areas like the 7 Makara and the Chroy Changvar districts saw a quarter on quarter increase of up to around 8.3 percent to 8.8 percent. This may or may not be a good thing, depending on which part of the transaction you’re on. This is good for current investors who saw a high return of investment. But this may be an opportunity for future investors to shift their focus to the outskirts of the capital city.Phnom Penh Condominium Q1 2016According to the report, there were 8 projects that were announced at the beginning of this year which ushered in a total of 4,158 additional condo units. This is a staggering 61.6 percent year on year increase. As a result, the average sales prices for condo units across all unit types went up by 4.1 percent.Off-plan prices for high-end units, on the other hand, grew a steady 5.7 percent where Chamkarmon took the lead and contributed 2,900 units or 70 percent of the off-plan condominium sales.Based on the figures as well, a number of newer high-end and middle class condominium unit supply will be from international developers, where China and Taiwan are the frontrunners.Phnom Penh Office Q1 2016While the condominium market saw much of an improvement this past 1st quarter, the office market hit quite a few roadblocks. This caused occupancy rates to diminish by 1.5 percent, despite the construction of 3 new office buildings with a leasable space of 17,260 sqm.But it wasn’t all bad as both Grade B and Grade C office rents rose up to 1.3 percent and 2.6 percent, respectively. In addition to this, the quoted rental prices for Grade A office properties remained stable at $28 per square meter.Taking all these into consideration, as it stands now, the total officespace occupancy rate in Phnom Penh is at  74.4 percent.It’s not all doom and gloom for the office market though as 5 office projects will be available for investors in the near future through the use of strata titles or long-term leases.Construction for these projects started during the early months of 2016 wherein each development had launched off-plan sales during 2015.They’re expected to contribute a net space that’s estimated around 84,000 sqm by 2019. The average asking price stands at an average of $3,475 per square meter where Grade B spaces will take a projected 64 percent of the future office space supply.Phnom Penh Retail Q1 2016While there were a series of activities that showed activity in different real estate markets, retail showed little to none.It remained relatively stable during the 1st quarter but is expected to change in the months to come. One important event to note though is that the Sorya Shopping Center announced a renovation and rebranding project that will relaunch it as the “Sorya Center Point”.Starting off a bit slow this year, the retail supply in Phnom Penh is expected to pick up and grow significantly before 2018 ends. This will be the effect of “a combination of new international shopping complexes and significant retail components within predominantly residential and mixed-used schemes.”One of these is the Parkson Phnom Penh City Center which is set to launch any time during the 4th quarter of 2016.The Parkson Phnom Penh. City Center will have 57,000 sqm of leasable space, alongside Hong Kong Land’s Exchange Square which will have a total of 8,000 sqm of leasable retail space before the 2st quarter of 2017 end.Rents, on the other hand, remained consistent all throughout the 1st quarter, except with rents from purpose built retail malls. This saw a fall amounting to 1.6 percent. Unlike the retail supply, this trend is set to continue as requirement reviews are being done by retailers in terms of pending developments that are set to be delivered within the next 12 months.This will most likely be affected by international brands seeking prime retail locations for different uses. Among the top uses is the Financial and Professional Services which occupies around 9.2 percent of prime mall space and 33.2 percent of prime high-street. Food and beverage doesn’t fall behind which accounts for 14.2 percent of high-street retail spaces and 25 percent of retail malls.The report states that “2016 is set to welcome a wave of new international brands, with active requirements for both prime shopping mall and high-street locations driven principally by Food and Beverage/ Fashion and Accessories retailers.”Phnom Penh Serviced Apartment Q1 2016In contrast to the other markets, it seems as though service apartments had been luckier with an increase in supply that spurred by around 5.6 percent in the first quarter alone.According to the report, a huge factor for this is because of the Grade C serviced apartments coming up to 4,645 units with a recent addition of 246 similar projects. This may be the reason why it is the most prominent Grade type in Cambodia, making up a rough estimate of 71.6 percent of all units, in contrast to Grade A and B serviced apartments that only account for 19.9 percent and 8.5 percent of the units, respectively.This is probably why prime serviced apartment rents remained stable during the 1st quarter where rental rates ranged from $500 per month for a one-bedroom Grade B apartment to $8,000 per month for one of the higher end penthouse units. This is not far from prices during previous months and quarters.This stability also contributes 85.6 percent of the occupancy rate where the majority of the capital’s current serviced apartment supply is located.The report aims to provide insight for investors and developers in order to gauge whether or not to proceed with their potential or ongoing transactions. In the end, it is important to look at this data to form informed decisions and make calculated risks.Check out all listings from CBRE

Sukhalay Hotel on Achar Mean Avenue (now Monivong Boulevard)Amazing Cambodia gather vintage photos of historic buildings across Cambodia and feats of construction that have marked the Kingdom's architectural evolution. The mission of Amazing Cambodia is collecting Cambodian historical images, music,films and other things of cultural importance, and sharing them to everyone domestically and internationally. The purpose in guiding people, especially the young generation, to see and to know how amazing their country was in the past as well as to be proud of being a Cambodian citizen. It is also assisting local people to recall momentous memories about past events, raising foreigners' awareness about Cambodian culture and history and promoting Cambodia's reputation and popularity nationally and internationally. The founder of Amazing Cambodia, Mr. Srin Sokmean, spoke with Realestate.com.kh about his life and his inspiration for Amazing Cambodia.Tell us about your career so far:I have been working as a reporter and editor for a local magazine since I was a senior at IFL. Now I am also working as an English language full-time teacher for a private school in Phnom Penh. On the other hand, I have been an organizer of some cultural events including Amazing Cambodia Photo Exhibition 2013 and the Night of Hope charity concert 2015.What inspired you to start your photo archives?Inspired by my lifelong great passion of local culture and arts, I have been investing most of my free time in doing constant researches on Cambodian past music, films as well as architecture. The 1960s, known as the golden age of Cambodian culture, is my most favorite topic. As I had collected a large number of vintage images, I decided to create a Facebook page named Amazing Cambodia with the initial technical assistance of one of my Facebook friends. The three biggest purposes of the page are to raise Cambodian young generation’s awareness of the country’s glorious past, to review the past memories for the surviving local oldsters, especially those who have been away from the homeland for decades, and last but not least is to promote Khmer culture and history to the world.What your inspiration do this job?Everything is because I do love it from the bottom of my heart - though, I have to sacrifice a lot of money and time. Even without much support, I never give up since I have learned a lot during the process of the research. For example, I know how to improve communication skills with people in that field.My personal inspiring quote is “Don’t give up just because you walk in the right way alone - Appreciate your incomparable talent.”What is your view on Cambodia architecture these days?

Residences L Cambodia offers 2 exciting new condo projects located in the heart of Phnom Penh city, namely Residence L BKK3 in Sangkat BKK3 and Residence L Boeung Trabek 2 in Sangkat Boeung Trabek 2. These projects are currently under development with the management of L.C.P.P Residence Co., Ltd with its headquarters in Phnom Penh. Other projects already completed by this experienced local developer includes Residence L Boeung Trabek, Residence L Sovan - both of which are completed - and Residence L Olympic, which will finish construction at the end of 2016. The sales success and track record of quality behind Residence L guarantees every new buyer security over their new asset and a finished-product quality that is currently leading the mid-range condo market in Cambodia. At the completion of all of these projects, Residence L company will have produced a grand total of over 800 condo units to the Cambodian market.Project after project, Residence L continues to sell out new developments! Modern people want to live in a luxurious, secure and modern condo in the center of the city, and this is exactly what Residence L offers!Residence L BKK3 has 21 storeys and Residence L Boeung Trabek 2 has 20 storeys, both with 1 and 2 bedroom condos available in a variety of floor sizes. All units’ interior has been uniquely designed to suit the space and style, and each unit is fully equipped with high quality fittings and furnishings. Common-use condo facilities include a swimming pool, gym, full security and expansive car parking facilities. The price range for all of Residence L condos is between $40,000 and $100,000, depending on unit sizes and specs.The locations are both close to central business districts, shopping malls, Russian Market, the Chinese Embassy, banks, hospitals and various gyms and sporting facilities. Ms. Sok Kim Sour, sales representative for Residence L, said, “Our buyers are an equally divided mix of locals and foreigners, and many of them buy the units to rent out in the future.” Of course you can live here yourself, but if you buy as an investment property to rent you can safely expect a monthly income of around $400 - $1000 per month per condo unit, based on current rental rates for similar properties in these areas.Residence L Cambodia is an apartment and condo building offering a premium lifestyle to its customers, located in the city’s fast growing hotspots. And Residence L is a place to call home… Find out more today.Residence L BKK3 in Sangkat BKK3 and Residence L Boeung Trabek 2 in Sangkat Boeung Trabek 2.

More concrete details surrounding WorldBridge Land’s proposed $100 million affordable housing project have surfaced, however the Cambodian government’s involvement in the development remains unclear.In November 2015, WorldBridge and Singapore-based construction company, Straits Construction Singapore Pte. Ltd, announced a memorandum of understanding (MoU) on affordable housing with the government. The company currently has two major condo developments underway: The Peak and The Bridge.Oknha Sear Rithy, WorldBridge group chairman, told Realestate.com.kh this week that although specific details concerning location would be confirmed when the project is launched at the end of this year, he said the development would be located around 17 kilometres from the centre of Phnom Penh. It is unclear if the government has offered land concessions for this project.“For our first project, the company has land and we will build the houses on that land, and sell it to the eligible buyers with incentives and regulatory support from the government,” Rithy said.“In the future, the government may have land available for private developers to develop into public housing projects.”Rithy said the company had been collaborating with the Ministry of Land Management, Urban Planning and Construction (MLMUPC) in relation to the project’s planning stages. “Together with our strong partner, Straits Construction Singapore which has built public housing in Singapore since 1982, we have been working closely with the MLMUPC on the draft regulations for the public housing to make sure that the regulations are responsive to the interests of concerned parties: the buyers, the state and the company,” he said.“There are various forms of public and private partnership in public housing development as stated in the government’s National Policy on Housing.”For this particular project, slated for completion within two years, Rithy said, “We have strong hope that the government will provide us investment incentives including tax exemption and provision of infrastructure connection to the project site in addition to the development of regulations that promote public housing projects.”The houses will range from $25,000 to $30,000, and Rithy added that financial assistance will be available in the form of housing loans for buyers.“We expect that the initial deposit is around 10 per cent of the housing cost, and the buyers can pay the remaining sum in monthly instalments.”“I believe a lot of people can afford that,” Rithy added.In terms of financing options, Rithy said the company would work to ensure favourable loan terms.“Our company will work with commercial banks and hopefully international development banks to make housing financing available and affordable by the low and middle income families. So far, those banks have already been in touch with us to realise such collaboration,” he said.“As for the government’s home-loan financing, it is already stated in the National Policy on Housing though it may take some time before such state financing mechanisms can be put in place. We hope that, in a longer term, the government should be able to play that role too.”Rithy says affordable housing plays a key role in Cambodia’s sustainable development, and is something that is in high demand. “Not different from birds, either big or small, every family needs a proper shelter or a place they can call ‘home’ regardless of their income status. So far, we have seen a lot of developments and supplies of boreys and high-end condominiums, which are good for upper middle and high income households, but are beyond the reach of low and lower middle income families, who also deserve the opportunity to own a home,” he said.“So, there is a real demand from the lower end of the housing market.” The developer – Cambodia Natural Lucky Real Estate, currently building Sino Plaza near Boeung Trabek Plaza in Chamkarmon district – has also recognised the need for affordable housing in the local market, according to a self-published report titled, “Housing a Kingdom: Affordable housing for Cambodians”. The private report, which was recently handed to the MLMUPC, notes: “Affordable housing is a huge concern among young, young families and middle-income group of Cambodians. Cambodians in this segment are increasingly finding themselves priced out of private housing.”In response to this, Cambodia Natural Lucky states that, “10 per cent of the whole

Sihanoukville is located in the southwest area of Cambodia and is known for its beautiful beaches and wonderful people. It is also home to some exciting new mixed use developments, such as D’Seaview by Camhomes. But recently, the province had experienced some significant policy changes which have influenced the Sihanoukville real estate market quite dramatically.ALL REAL ESTATE FOR SALE IN SIHANOUKVILLE The news of partitioning the province into three sections/zones and classifying them as luxury beaches for the private sector, public beaches for the private sector, and public entertainment beaches came as a surprise to many after Cambodian Ministers, Thong Khon and Chea Sophara, had their discussions on the matter. The move, however, was met with heavy scrutiny after many local businesses in the area were demolished – particularly in the Otres and Ochheuteal beach areas. As a result, complaints were filed through the Interior Ministry in an attempt to come to a compromise. In a recent video interview with Realestate.com.kh, current president of the CVEA, Mr. Kim Heang, weighs in on the current status of Sihanoukville real estate as an investment destination.So, how do recent policy changes affect property investment opportunities in the province? Despite the recent changes, Heang suggests that Sihanoukville is still a good place for investment. He adds that the best time for investing in Sihanoukville real estate is anytime from now, into the next 5 years. This is because in the short term, properties here are still relatively inexpensive and still have great potential for investment returns. This may be attributed to the recent real estate segmentation/zoning being implemented by the government that will pave the way for better zoning management and policy conception into the coming years. This progress will only stimulate the economy of the province in the longer-term. Heang further explains that if there is a clear master plan for Sihanoukville and it is followed through with conviction, Sihanoukville has the potential to become another Singapore, or at least a Phnom Penh. But this will not happen without serious attention to infrastructural upgrades, such as stronger rail and road connections, and deeper ports. Although there are already plans to strengthen the infrastructure, Heang says these plans still have a long way to go.ALL REAL ESTATE FOR RENT IN SIHANOUKVILLE Railway Infrastructure Capacity Needed:Currently, it takes about eight hours to come from Phnom Penh to Sihanoukville via train, says Heang. Improving the railways and making the system at least three times bigger, he adds, would make this journey just 2 hours. This would also allow ease for sharing resources such as materials and workers that would be helpful in construction of additional infrastructure and property developments in the port city. Having a faster train system would make the entire province more profitable for investors in a much shorter amount of time.Sihanoukville Real Estate for Commerce: Sihanoukville is also a popular tourist destination for both locals and foreign nationals. So, for those looking to invest in commercial properties in the area, there is already natural and organic foot traffic to work with.While Sihanoukville is currently undergoing changes, it clearly has a bright future to come.LEARN MORE IN OUR SIHANOUKVILLE LOCATION PROFILE

In an effort to connect and empower the real estate, education and business sectors of Cambodia, Realestate.com.kh is very proud to support and sponsor the Phnom Penh chapter of JCI International for its yearly “JCI International Business Exhibition and Entrepreneur Square” event. Who is JCI:JCI is a nonprofit organization of young active citizens age 18 to 40 in 5,000 communities and more than 115 countries around the world who are engaged and committed to creating impact in their communities. JCI members seek targeted solutions to the unique problems in our communities to build a better world, creating global impact. The JCI mission is to provide development opportunities that empower young people to create positive change.Introducing the JCI International Business Exhibition and Entrepreneur Square:The primary objective of the exhibition in Phnom Penh this August is to promote the economic advantages of Cambodia through different businesses and investment opportunities for both the local and international market. This year’s expo focus will center on three different sectors – real estate, food & beverage, and the organic product industry. The organizers are hoping that this event and expo will bridge gaps in the market and create new and strengthened ties among the community of professionals who are interested in or are doing business in Cambodia.What Will Happen at The JCI Expo?Two events will occur simultaneously on August 27th, 2016, at the 5-Star Sokha Phnom Penh Hotel Residence from 8:00AM to 6:00PM to cater to the needs of the participants. The International Business Exhibition will be a premium business expo that will allow 500 people to browse and mingle with over 51 businesses – including various suppliers – who will be showcasing their products and services at their individual booths.Meanwhile, the Entrepreneur Square will be taking place, a premium business seminar that will bring in different industry professionals from each field to talk about the different business opportunities in Cambodia. This event will accommodate anywhere from 150 to 200 high profile participants as there are only limited seats available.Who Can Participate?Both the International Business Exhibition and the Entrepreneur Square events are open to business owners, local and foreign entrepreneurs, local and foreign investors, and business associations.Why Participate in this year’s event?Since this will be an event attended by business entities, suppliers, entrepreneurs and high-profile investors, this may be the best opportunity for you to meet new people and expand your network to form possible partnerships and collaborations inside and outside of Cambodia. It’s also a unique chance to gain exposure for a specific products or services you or your company may be offering. And since there will be a seminar on as well, this is a great time for you to learn new things from seasoned professionals who have made it big in the real estate, F&B, and organic products industries already. At $50 for a seat at the Entrepreneur Square event and just $300 for those who want to secure a booth at the exhibition, you’re sure to get your money’s worth.What if I Want to Sponsor?Garnering support from partners like the the Young Entrepreneurs Association of Cambodia and supporters like the Business Networking International, Cambodia Woman Entrepreneurs Association, and the Cambodian Valuers and Estate Agents Association (CVEA), the event organizers are still offering competitive packages for interested sponsors starting at $1,000. These packages will get your logos on promotional materials, mentions on the event’s social media pages, logos on promotional videos and more.  What if I Have Questions?For interested participants, you can contact Mr. Horm Chanreaksmey at +855 12 540 033 or his e-mail hchanreaksmey@gmail.com. For those who are interested in the sponsorship packages and in public relations, you can contact Mr. Soth Sothearak at +855 17 59 46 19 or you can e-mail him at sothearak2510@gmail.com as well.

A $150 million agreement between the Cambodian and Chinese Governments will see the construction of a huge sports stadium complex - suitable for Cambodia to host the Southeast Asia Games (SEA Games) in 2023.First approved in 2013, the “Morodok Decho Sports Complex” first stage of construction is already around 70 percent complete and is being developed by the LYP Group for around $39 million, according to an RFA report.The “Morodok Decho Sports Complex” is being built on 85 hectares of land in Prek Ta Sek commune, Russey Keo district, inside of LYP Group’s “Garden City” satellite city.The second phase of the sports stadium project is expected to begin construction in 2017 under the management of a Chinese company, with an approximate $150 million funding package provided by Beijing.   Meanwhile, a huge world-class TV antenna, with a total height of 285 meters, will be completed before the year 2023 as well, near Morodok Decho  stadium. To be called "TV Tower", the massive antenna will become the broadcasting center for the SEA Games in 2023. The TV Tower project is invested in by Chinese company Power China Kunming Engineering Corporate Limited, on a land area the size of 6 hectare. This new sports stadium and TV Tower should be another great boost for Cambodia's thriving tourism industry.

With the rate of condominium market demand and supply fluctuating in Cambodia, it is possible that 2016 will force real estate professionals to focus on a few issues that need to be addressed for the condominium market to be sustainable into the future. Particularly, there is an increasing need to develop new strategies to combat the decreasing demand for condominium units. This is according to Chrek Soknim, Century 21 Mekong ceo, during his presentation for Century21 Cambodia’s Condominium Market Report H1 2016 report.As Official Property Portal Partner of Century21 Cambodia, the Realestate.com.khTV team was there to catch the news as it happened.Political Hindrance There have been many laws that have been drafted and approved throughout the years to assist in the growth of the real estate sector, especially in terms of the condominium market. But when there is any signs of insecurity in the market or political sphere in Cambodia, foreign investors are put off and look to more established and less vulnerable markets with their investment. Soknim says that minor political disputes in 2016 are making foreign investors nervous when considering Cambodia.But Soknim states that this may be more of a national image issue than it is an actual reality of Cambodia in 2016. He explains, “even though the political situation in Cambodia looks stable and nothing changes, the confidence and sentiment of buyers has decreased in some respects. This may seem like a small issue to some people, but foreign investment in the industry makes up about 70 percent of the condominium market.”  OversupplyDue to projections pointing towards an increase in demand during the early months of 2016, many developers took the opportunity to apply to build new projects, especially in the condominium market. Unfortunately, this led to more new construction that the market may have anticipated. Soknim said, “Supply has increased dramatically this year —especially in January, February and March of 2016—with new projects being launched almost every day.”Century21’s Condominium market report indicates that 13,730 more units are expected to come up in the next few months of 2016.However, Seraj Sutton from Century21 Cambodia, at the same event, stated that he hopes to resolve increased supply by communicating with foreign investors by means of a “Global Strategy Business Development” tour, which will allow Century21 Cambodia to move from one country to another and keep investors informed about the opportunities in Cambodian real estate.Overseas DependencyA slowing down of the economies of neighboring countries such as China is also contributing to the amount of demand the Cambodia condominium market is receiving. Soknim clarifies that even if Cambodia still has lower rental and sales prices across the market, Cambodia has to lessen its dependence on overseas money. Cambodia is a dollar-dominant market and this may cause issues as well in the future.Despite some indications of an oversupply, Soknim and the rest of the Century21 Cambodia team believes that with a cautious mindset, and proactive investment policies, there is still much success to come in the Cambodian condominium market.Find thousands of condo listings on realestate.com.kh

Cambodia’s economy has been growing from within its borders throughout recent years. And while it’s not really a bad thing, leading industry players such as Century21 Cambodia have come into agreement that the real estate sector is growing so much that there comes an opportunity to open it up to increased investments for both locals and foreign nationals. This is the sentiment echoed by Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia, during his speech for the launch of the Condominium Market Report H1 2016 held at Raffles Hotel Le Royal, Phnom Penh.Global  VisionSutton explains that as part of their aim to do business more efficiently, a global vision is essential for Century21 Cambodia to be able to move forward with their initiatives to streamline a broader business platform in the real estate and property market. This vision will be the driving force that will motivate them to come up with new and innovative ways to create an environment conducive for global business transactions and collaborations.Global InitiativeAs part of this move towards a more inclusive and collaborative industry, Century21 has set up a "Global Strategy Business Development”  team which has also launched a worldwide tour series to spread awareness about the real progressive situation in Cambodia and, more specifically, Cambodian real estate. It will be headed by Sutton, along with Mr Kuy Vat and Mr SamAth Him Sprung who are the Chairman and Director of Global Strategic Business Development at Century21 Cambodia, respectively.Sutton says, “The main focus is strategically thinking globally. This means proactively promoting Cambodian investment opportunities to the global market."He continues, “So, proactively, we’ll promote the projects in Cambodia to the investors overseas, by means of travelling, building relationships, networking and promoting, promoting and promoting.""Because we believe the Cambodia property market has the best offering ever, in the region but also worldwide. So, no country in the world can beat the investment opportunities in Cambodia.” But he also notes that a lot of the populations of investors around the world are looking to diversify their portfolio. And this is where their tour will take a turn for the better as they present and propose a two-way traffic structure, whereby Cambodia property investors can invest in overseas projects and foreign investors can also invest in other overseas projects from countries like Cambodia. Sutton called it a “complete global vision and strategy.”Global  SupportIn terms of international cooperation, Century21 Cambodia is aiming to leverage partnerships in countries like China, Hong Kong, Macau, Taiwan, Malaysia, Indonesia, Vietnam, Singapore, Japan, Korea, Thailand, France, Australia, Canada, and USA.Sutton adds that France and Australia have shown great potential thus far as these countries have large populations of Cambodian expats and immigrants. He says, “Why France? Big Cambodian community is in France. Some of them – Cambodian-French – eventually like to retire back in their home country, Cambodia.” In 2011 alone, there was an estimated 80,000 Cambodian nationals who lived in France. He further elaborates, “Then we thought, if we can go to France, why not Australia? A lot of Cambodian communities live in Australia.”This is indeed an exciting time for Cambodia as firms like Century21 Cambodia continue to look for ways to modernize and stabilize the growth in the Cambodia property industry. And as plans begin to materialize, we can only hope to see rapid and ongoing growth in the Cambodia property market as a result.

According to the recently released Century21 Cambodia Condominium Market Report H1 2016, the supply of condo units in Phnom Penh will reach approximately 37,570 units by 2020, with a compound annual growth rate (CAGR) of 56 percent for a period of 13 years. Yet, during the next five years to come (2016-2020), year on year growth in condominium unit supplies will plateau and move toward a downward trend, as the market stabilises with a CAGR of 33 percent.Check out more on the report...

PHNOM PENH, Cambodia – 6 July 2016: After a record-­breaking year in real estate and construction, the Cambodia Property Awards returns for a second year to reward the best developers, projects and designs in the Kingdom. According to the latest research by consultancy CBRE, the capital Phnom Penh’s condominium supply is projected to rise by a staggering 794 percent or 19,018 units within the next two years, supported by sustained gross domestic product growth, attractive returns and rapid urbanisation. In another fast ­growing segment, Cambodia’s retail market is set to get a substantial boost with new retail supply coming in from foreign investors hailing from ASEAN Economic Community and East Asia. Those impressive developments will be highlighted at the second annual Cambodia Property Awards 2017, the biggest and most exclusive awards programme in the country that forms part of the regional Asia Property Awards series organised by PropertyGuru, Asia’s leading online property group. The annual real estate event was formally launched to the media on 6 July 2016 at the Empress Room of Raffles Hotel Le Royal, be to followed by an evening launch party at the historic Chinese House on Preah Sisowath Quay in Phnom Penh. With much fanfare and media coverage, the inaugural ceremony that took place on 25 February 2016 at the prestigious Sofitel Phnom Penh Phokeethra was attended by more than 300 high ­profile guests and VIPs, including His Excellency Dr Pen Sophal, representative of His Excellency Senior Minister Im Chhun Lim, who gave the inspiring keynote address. Broadcast live on CTN’s Cambodia News Channel, the 2016 Gala Dinner saw Borey Penghouth Group collect five awards including Best Developer (Cambodia), while Mr Rithy Sear, chairman of WorldBridge Land, was named Real Estate Personality of the Year by the editors of Property Report, Asia’s leading luxury real estate, architecture and design magazine. Other big winners were The Olympia City Development Co Ltd and Urbanland Asia Investment Co Ltd. “Cambodia joins the other leading economies of ASEAN in hosting its own awards programme,” Terry Blackburn, founder and managing director of the Asia Property Awards, said. “It is a testament to the strength and quality of the local industry that we have so many fine developments join our launch year in 2016.” The 2017 event aims to surpass last year’s guest list and the total number of eligible entries for categories covering the condominium, housing/villa, office and serviced apartment segments. New categories to join the programme include Special Recognition in Sustainable Development and the expanded Best Hotel Development category for Phnom Penh, Sihanoukville, and Siem Reap. Nominations are already open and will close on 4 November. Entry is free.Sign Up NowAll entrants for the Cambodia Property Awards can be nominated by a third party, including peers, professionals and consumers, and, if eligible, are rigorously and fairly judged by an independent panel of industry experts, who conduct site visits to long­listed developments in order to determine the official shortlist of nominees comprising one Winner and up to four Highly Commended in each category. BDO, one of the world’s largest accounting and auditing firms, returns as the trusted awards supervisor of the Asia Property Awards, which, in its 12th year, is widely recognised for its fairness and transparency. The official list of nominees will be revealed in mid­January 2017, along with the announcement by the editors of Property Report of Cambodia’s Real Estate Personality of Year, whose influence and achievements resonate across the kingdom.

The real estate and property markets are highly competitive. This is why it can be extremely difficult to stay in the business and find a career beyond your initial success, especially if you’re a real estate sales agent.Longevity becomes the primary issue and agents are left asking themselves how they ended up not having inquiries when just yesterday they were doing fine.CEO of Key Real Estate, chief adviser of the CVEA and vice-chair of Eurocham’s Real Estate & Construction Committee, Mr. Alex Evengroen addresses this issue and explains that this may be because of a weak grasp on how professionals perceive real estate agents. In a sit down interview, he reveals a couple of tips that will take professionals in the industry from an agent status to real estate sales guru.CharacterOne of the fundamental characteristics of a successful real estate sales agent is not his educational attainment, but his character and the way he conducts business. Though being certified by an institution gives you an additional coat of credibility, being certified by the clients themselves from their own personal experience will give you an edge. This becomes an advantage when they start referring you to friends and family who are looking for the same services that you offer. People have a tendency to trust people they know and a personal certification from them will always outweigh a formal one in the long run.CoverageWhile good character is important, it should also go hand in hand with being knowledgeable in terms of the ins and outs of the industry. Knowing property types and location and showing that you know what you're talking about will assure your clients that they will get the best and the most practical deals from you. It’s also crucial to give the property investment experience a personal touch. So, even if you know what you’re talking about, Evengroen says that you should still ask your clients some questions to find out what they want. This not only allows you to provide them with more flexible options, this also gives you the opportunity to compile your own personal statistics on that client and develop your own portfolio.CommunicationEvengroen says that communication is one of the most important things that you can learn in the industry. This not only extends to communication principles and etiquette. This also includes working on your language skills. He emphasizes that you have to keep learning. Knowing an additional language will give you a competitive start and follow through you need for further growth. It also builds character and your ability to learn anything. It allows investors to feel a familiarity they may otherwise miss when they transact with other agents. Among the leading languages in Cambodia are Khmer, English and Chinese. The more languages you know, the more sales you can make.CommunityDeveloping relationships in the industry is one of the biggest contributors to the successes and failures of real estate sales agents and agencies all over the world. Without good networking skills, you lose the potential client base that will organically come through referrals. So, this means that you not only develop relationships with the clients. It also means that you should develop a deeper connection with colleagues, other agents and organizations. This is why Evengroen suggests all Cambodian agents should join the CVEA - which is a big group of real estate companies registered with The Ministry of Economics and Finance.Being part of a community like this gets you the chance to learn from like-minded individuals who are willing to support you and who are also seeking to improve the industry conditions itself. So, whether it’s CVEA or not, make sure that you become part of a group of credible people and harness the power of numbers!Consistency“You only get one chance” at making first impressions. This is the sentiment shared by Evengroen during the interview. He says that who you are the first time people meet you will last until they decide to part ways with you. So, you want them to feel the support you are willing to offer them. A bad impression can somehow be offset with consistent follow-ups though. And whether you’ve made a bad or good impression, follow-ups remain one of the best ways you can close the deal. Just be mindful of the frequency so that it won’t reach a point where clients are inconvenienced by it.ConfidenceBeing a personal and professional success coach, Alex Evengroen believes that agents should first and foremost believe in themselves. They have to dare to be different. He says that "if you copy other people, no problem. But then you're one of them and you're the same.” And while it’s important to mould ourselves in the image of a successful person, our differences will serve as our personal and even professional marketing tool. He states that we must make a conscious choice to be confident. "So, if I don't believe in myself, why should you believe in me?”He further emphasizes that confidence makes other people confident that you will support them when they need it. With that assurance and with the utilization of all these tips, Evergroen firmly believes that you’ll be able to last long and hit it big in the real estate market. So, continue improving yourself and be aware of the things you’re still able to work on. And since the industry is fast growing, agents and agencies should have no excuse to do anything else other than focus on growth.Learn more through the Realestate.com.kh news section now!

Asia Property Report is in town again to start the buildup to the 2017 Cambodia Property Awards. Realestate.com.kh, as Official Property Portal Partner of the awards series, was on the scene at the Press conference in Phnom Penh this week to catch the news...Speaking at the conference was Terry Blackburn, Managing Director of Awards and Publications at PropertyGuru Pte Ltd and founder of Property Report. Also, Lim Seng Siew, partner at BDO, official judging supervisor to the awards series, spoke about the judging criteria for the night.Interested to find out more about the Cambodia Property Awards 2017? See the full details of the Cambodia Property Awards 2017 HERE and Sign Up today!

As the British pound is reduced to a 31-year low after Britain voted to exit EU, Asian investors are looking to scoop some UK property bargains, but the capital isn’t expected to directly land in Cambodia.  Nicholas Holt, head of research for Knight Frank Asia Pacific said, “

Realestate.com.kh caught up with Desmond Yap, general manager at Yong Yap Properties, to learn more about buying through a nominee structure effectively and understand the recent changes to the legal practice of Soft Title Ownership for Foreigners in Cambodia.Up until now the Ministry of Land Management, Urban Planning and Construction has turned a blind eye to the many Khans and Sangkats below their authority issuing soft titles to foreigners. In a recent announcement, however, this precedent has been totally stopped in Phnom Penh. There are however various solutions and ways around these recent changes, including buying through a nominee structure.Looking for property in Cambodia? Let us help!

Buyers of residential and commercial properties will be spoilt for choice when CAMBODIA PROPERTY AND INVESTMENT SHOW 2016 rolls into town at the Diamond Island Exhibition Centre (Koh Pich) from 8-10 September 2016. And Realestate.com.kh is proud to be the Official Property Portal Sponsor of this year's Cambodia Property and Investment Show! Visitors at the show can see all the projects in one location. Furthermore, buyers can enjoy many special offers available at only at the show. Billed as the largest property expo in Cambodia, the event will showcase some of the biggest property developments in the country. Supported by the Cambodian Valuers and Estate Agents Association, the Show will focus on quality projects that will also attract foreign buyers. Among the development on show are: The Cambodia Property and Investment Show looks set to be the biggest yet as more major developers signed up to display their projects. Many of them will be participating for the first time at the show. This reflect the continued strong growth and demand for quality projects. The property prices are still affordable as compared to countries around the region. As the country continues to attract investments in the manufacturing and tourism sectors, the rental market is expected to remain strong. The Expo is the ideal marketing platform to reach out to both local and overseas buyers as it is expected to attract over 10,000 serious buyers.To Book Your Booth please send your details to the organizer: CLICK HERE TO CONTACTAdmission to the Cambodia Property & Investment Show 2016 is free of charge. Invitation tickets are available: WANT TICKETS?  FIND OUT MORE