Realestate.com.kh, Cambodia’s #1 property portal, is bringing you September’s best deals from the popular developments around the Kingdom!If you’re in the market for good deals, then you’re in the right place:Silvertown MetropolitanLocation: Trasak Paem 63, BKK 1, Chamkarmon, Phnom PenhDISCOUNT OFFER: Up to $70,000 off + Renovation package up to $15,000Silvertown Metropolitan is a completed high-end serviced condominium in the heart of BKK1 - an area considered one of the Central Business Districts of Phnom Penh. It is managed by Naki Realty, the premier property management service provider in Cambodia.For the month of September, Silvertown Metropolitan is offering a discount on each of its premium units coupled with a renovation package:Studio : Discount up to $35,000 + Renovation package $5,0002 BR : Discount up to $60,000 + Renovation package $10,0003 BR : Discount up to $70,000 + Renovation package $15,000This offer is a limited-time offer until 30-Sep-2021. Interested in learning more about Silvertown Metropolitan? Check our property listing below!Silvertown Metropolitan Property ListingThe Peninsula Private ResidencesLocation: Chroy Changvar, Chroy Changvar, Phnom PenhDISCOUNT OFFER: Discount up to 28%The Peninsula Private Residences is a popular and multi-awarded project in the peninsular district Chroy Changvar. It is commonly attributed as the project that put Chroy Changvar through its modern architectural design, interiors, and landmark location just along the district’s roundabout.The Peninsula Private Residences is running a special discount of as much as 28% before its expected completion date in Q4 2021. Interested in learning more about The Peninsula? Check our property listing below!The Peninsula Private Residences Property ListingOlympia CityLocation: Olympic, 7 Makara, Phnom PenhDISCOUNT OFFER: Discount up to 40%The Olympia City is arguably one of the most centrally located projects in downtown Phnom Penh. It is a completed mixed-use development with high-rise residential towers supported by purpose-built shopping malls and a myriad of local businesses in its surrounding area.For the month of September, the Olympia City is offering property buyers a discount of up to 40%! Interested in learning more about this property? Check our listing for more information!Olympia City Property ListingWorldBridge Sport VillageLocation: Blvd Win Win, Bak Kaeng, Chroy Changvar, Phnom PenhDISCOUNT OFFER: Discount up to 17%The WorldBridge Sport Village is a new development being built in the suburban area of Chroy Changvar. Designated as the site of the upcoming SEA Games 2023 and ASEAN Para Games 2023, it is the project with an opening fanfare very few other new developments can compete with!The WorldBridge Sport Village offers a range of high-rise residential and landed properties available. And for the month of September, is offering a discount of up to 17% on its studio units - available for foreign ownership!Interested in learning more about The WorldBridge Sport Village? Check our property listing below!WorldBridge Sport Village Property ListingStar BayLocation: Sangkat Buon, Sihanoukville, SihanoukvilleEXCLUSIVE OFFER: $55,754 starting priceStar Bay is a beachfront property in Sihanoukville, Cambodia’s most popular beach destination. The city is being developed into a prime tourist and business destination, complete with commercial buildings, shopping malls, and high-rise residential properties - while still having access to a pristine beach.For the month of September, Star Bay is offering a low $55,754 starting price for its beachfront high-rise units - READY TO MOVE IN.Interested in learning about Star Bay? Check our property listing below!Star Bay Property ListingHow can I secure these discounts?Simple: Visit the property listings and inquire through our customer service chat on the listings above!Realestate.com.kh is home to over 30,000 (and growing!) property listings across the Kingdom of Cambodia. If you’re looking for other properties for rent/sale, let us know what you’re looking for through our concierge service below!Looking for more properties? Inquire here!Article by:

Phnom Penh's property market in August 2021 largely saw a continuation of the reprieve experienced in July 2021 with a few road bumps from newly reported delta variant cases in the city and the brief reintroduction of city-wide quarantine measures.According to Realestate.com.kh’s Market Trends, property searches in central districts slid in August 2021 compared to July 2021. Lower searches for central districts are likely in response to the city-wide quarantine measures to mitigate the number of delta-variant cases in Phnom Penh. It is worth noting that this month’s search figures, despite being lower than July’s, remain well above figures in April-June 2021.The growing number of delta cases has not gone unanswered by health authorities. Vaccine arrivals into Cambodia continue on an almost weekly basis, with portions being allocated as booster shots to help prevent the spread of the delta variant of COVID-19.Cambodia’s vaccine rollout has been noted by regional observers as one of the fastest in Southeast Asia. According to Mekong Strategic Partners, an investment and advisory firm with operations across the Greater Mekong region, Phnom Penh is one of the most vaccinated capital in the world, with around 99% of adults fully vaccinated.Sale PricesPhnom Penh’s sales prices largely remain below pre-pandemic figures. However, this trend may be starting to upend itself with a notable stabilization in median sale prices for apartments/condos.Unit SizeMedian Price per SqmMedian Unit Size1 bedroom$1,85447 sqm2 bedroom$2,16972 sqm3 bedroom$2,581112 sqmIn August 2021, 1-bedroom unit price per square metre picked up by 2% from July 2021 while 2-bedroom and 3-bedroom unit price per square metre slid by marginal -1.23% and -0.50%, respectively. Outright price adjustments are becoming few and far between outside of special time-limited promotions from developers/agencies. Whether this is a sign of a stabilizing market poised for a price increase - provided no further disruptions from quarantines - will be something worth considering as a buyer still on the fence.Rent PricesRealestate.com.kh’s Market Trends shows little-to-no changes in August from July’s recorded prices. Though not on the same volume as before the pandemic, Realestate.com.kh’s own leads services team has noted a significant increase in rental inquiries in Phnom Penh, particularly from tourists and expatriates.August 2021 Median Price by Bedroom for Apartments for Rent:1-bedroom apartment rent per month: 600 USD (No change from July)2-bedroom apartment rent per month: 1,000 USD (No change from July)3-bedroom apartment rent per month: 2,000 USD (5.26% change from July)Prices displayed above are median values, lower-priced accommodations can be found in Realestate.com.kh’s properties for rent in Phnom Penh page.District and Property Type Popularity in Phnom PenhRealestate.com.kh Market Trends notes a decrease in search figures following the rise of the delta variant and subsequent implementation of new quarantine measures back in August. Nevertheless, overall search figures remained higher compared to April-June 2021.Worth noting for the month of August is the uptick in searches for properties in Sen Sok, Por Sen Chey, and Dangkao - all outer districts set to benefit from Phnom Penh’s continued outward expansion.Most popular districts in Phnom Penh as of August 2021:Chamkarmon - Remains the most popular district to look for property in Phnom Penh in August 2021. It is a popular place for renters looking for accommodations at reasonable prices. Popular subdistricts are Tonle Bassac and Toul Tompoung I. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyBoeung Keng Kang - The BKK1 area remains a popular choice among many property seekers, especially among the well-to-do in Phnom Penh. The BKK district’s popularity stems from its central location, modern residential choices, and quality-of-life conveniences. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyDaun Penh - The primary CBD of Phnom Penh where key tourist attractions are located and where most multi-national companies are based. It is the central district and most developed district of Phnom Penh. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyChroy Changvar - This peninsular district has overtaken other outer districts like Sen Sok as property developers and home buyers look to this area as the next suburban development hotspot in Phnom Penh. Most popular property types searched:Landed houseApartment/condoLand propertyCommercial propertySen Sok - Sen Sok is a fast-developing district in the outskirts Phnom Penh that will soon see it as the new center of activity in the metro’s northwest. The district’s potential for more development continues to make it a popular landed residential choice for many middle-class Cambodians.Landed houseApartment/condoLand propertyCommercial propertyRealestate.com.kh’s Condominium Overview in Phnom Penh is a monthly report based on its internal developer tracking and data collected from over 30,000 live property listings across Cambodia.If you’re interested in property in Phnom Penh, let us know by contacting our property advisors below!Looking for property in Phnom Penh? Let us help!Article by:

While most countries are still uncertain on when COVID-19 will let up, the Kingdom of Cambodia may have something to celebrate.According to a report by the Mekong Strategic Partners, an investment and advisory firm based in Cambodia with operations across the Greater Mekong region, Cambodia is one of the most vaccinated countries in the world, and Phnom Penh, the most vaccinated capital in the world, at around 99% of adults fully vaccinated.On par with advanced economies, surpassing ASEAN neighboursCambodia has surpassed most of its ASEAN counterparts in achieving herd immunity, only surpassed by Singapore. According to the Mekong Strategic Partners’ report, Cambodia is on track to hit 70% vaccination for its population (including children) by September 21, 2021, putting it well ahead of its more developed neighbours.For comparison, the closest behind Cambodia to achieve this rate of its population vaccinated is the Philippines, projected by March 2022. Following behind are Indonesia and Thailand in July 2022. Neighbouring Vietnam is projected to achieve the same level of vaccination a year later, around September 2022.The consistency of vaccine rollouts has put the Kingdom at the same rate as developed countries. Cambodia has vaccinated 66% of its adult population (as of August 2021), the same rate as the United States, France, Italy, Switzerland, and Sweden.Cambodia ranked first globally in terms of vaccine doses per capita, having vaccinated 1.7% from Aug 4 to 11, according to Financial Times data.Dissecting Cambodia’s response to COVID-19“I think it’s fair to say that Cambodia has exceeded everyone’s expectations. The government has been criticised in part for what they’ve got wrong or what they’ve done wrong, but you really need to give them full marks for how they’ve managed the vaccine programme,” MSP Managing Director Stephen Higgins told Khmer Times in a report.With the support of China and the Cambodian private sector, the government has kept a consistent flow of vaccines and distributed them through vaccination campaigns across the Kingdom. Additionally, the Cambodian public is observed to have low vaccine hesitancy, hastening the progress of vaccine campaigns nationwide.The massive nationwide vaccination is accelerating to a point that the government has already pushed for booster shots to be distributed to both adults and children.Prior to the vaccination rollouts, the Cambodian public has taken it upon themselves to observe basic quarantine measures such as wearing masks, maintaining social distancing, and limiting visits to public places. MSP’s report also highlights the strong contract tracing by health authorities early on, which undoubtedly mitigated what could have been a worst-case scenario for the Kingdom.As a result of the early adoption of quarantine measures, continued vaccine supply, and vaccination efforts, Cambodia is on track to achieve more than 80% vaccination by the end of August 2021; 8 months ahead of initial projections and up to 12 months before neighbouring countries.Timeline of vaccine arrival in CambodiaThe Cambodian government has been proactive in ordering, receiving, and distributing vaccines to its population. The Kingdom’s vaccine rollout began in February 2021 starting with medical and military personnel, followed by the wider public.NOTE: The timeline below is meant to showcase the consistency of vaccines coming into Cambodia based on internally recorded arrivals. This is NOT an official account of vaccines that arrived in Cambodia.On February 7, 600,000 doses of China National Medicines Vaccine (Sinopharm)On March 2, 324,000 doses of the AstraZeneca vaccineOn March 26, 1.5 million doses of China Coxing Vaccine (Sinovac)On March 31, 700,000 doses of China National Medicines vaccine (Sinopharm)On April 17, 500,000 doses of China Kexing Vaccine (Sinovac)On April 28, 400,000 doses of China National Medicines vaccine (Sinopharm)On May 11, 500,000 doses of China Kexing vaccine (Sinovac)On May 16, 500,000 doses of China Kexing vaccine (Sinovac)On May 23, 1 million doses of China Coxing Vaccine (Sinovac)On June 8, 1 million doses (500,000 doses of Sinopharm, 500,000 doses of Sinovac)On June 12, 1 million doses of China National Medicines Vaccine (Sinopharm)On June 19, 1 million doses of China Coxing Vaccine (Sinovac)On June 26, 1 million doses of China Kexing vaccine (Sinovac)On June 28, 1 million doses of China Kexing vaccine (Sinovac)On July 6, 1 million doses of China National Medicines vaccine (Sinopharm)July 10, 4 million doses (3 million doses of Sinovac and 1 million doses of Sinopharm)On July 22, 1 million doses of China National Medicines vaccine (Sinopharm)On July 23, 1 million doses of AstraZeneca through COVAXOn July 30, 450,500 doses of Johnson & JohnsonOn July 31, 1 million doses of China Kexing vaccine (Sinovac)On August 1, 1 million doses of China National Medicines Vaccine (Sinopharm)On August 2, 609,600 doses of the Johnson & Johnson vaccineOn August 12, 3 million doses of China Kexing vaccine (Sinovac)On August 23, 500,000 doses of China National Medicines Vaccine (Sinopharm)On August 23, 100,000 doses of China National Medicines Vaccine (Sinopharm)A booster shot for the economyEconomies with a largely vaccinated population show better economic prospects in the short term (1 to 2 years) than those with low vaccination rates. The MSP’s report additionally cites the IMF’s World Economic Report:“Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs: those that can look forward to further normalization of activity later this year (almost all advanced economies) and those that will still face resurgent infections and rising COVID death tolls.”When the economic hardship wrought by COVID-19 became apparent in late 2020, many observers resolved that economic recovery can only begin with an effective vaccination rollout. Just over a year later, Cambodia is now leading its regional neighbours and stands alongside highly-industrialized countries in the percentage of its population inoculated.Cambodia’s effective distribution of vaccines will have a direct effect in lowering future cases and relieving a limited Cambodian healthcare system. Fewer lockdowns will be required and the quality of life for Cambodians will improve in multiple facets.The tourism and manufacturing sectors, which employ more than a million people combined, have been hard hit by COVID-19. According to MSP’s assessment, higher vaccination rates may result in less interruptions on operations and a turnaround for domestic demand particularly for services - a recovery that will support economic growth and encourage Foreign Direct Investment (FDI).The next 2 years are projected to be much better years for Cambodia. According to mid-year assessments by the Asia Development Bank and WorldBank, the Kingdom’s economy will bounce back with 4% growth this 2021, followed by a projected 5% growth in 2022. This is on the back of continued vaccination campaigns by the government and continued support for both local and international investments.Looking to invest in property in Cambodia? Click hereArticle by:

It is without a doubt that the Covid-19 pandemic has very much brought catastrophic effects to the world such as the dramatic loss of human life worldwide and an unprecedented challenge to public health, food systems, and the world of work. Needless to say, the economic and social disruption caused by the pandemic is devastating. However, notwithstanding the fact that Southeast Asia is now embroiled by the Delta variant of Covid-19 as of late, Cambodia has every reason to remain optimistic once this pandemic is over.As a matter of fact, according to Cambodia’s Ministry of Health, Cambodia has managed to vaccinate close to 90 percent of the initially targeted 10 million people against COVID-19. To date, from February 10, 2021, to August 15, 2021, it has successfully vaccinated 9,020,990 against the virus. Considering that the country has spent more than USD1 billion to combat COVID-19, and with the knowledge that herd immunity could be achieved by October 2021, there is clear economic evidence that high vaccination rates improve economic outcomes, thus ensuring that the Kingdom of Wonder is on the right track for more than 6% GDP growth in 2022.With that being said, Cambodia definitely possesses the potential to grow as a result of Southeast Asia’s economic expansion, what with the increased commerce with China and a young and active population with rising educational levels. In addition, compared to its neighbors in the region, which has imposed partial or full lockdowns to manage the spread of the virus, the Cambodian government has enforced strict, absolute lockdowns in the country which has proven to be effective. This has also enabled economic activities to recover quickly despite suffering some losses previously. It goes without saying that although we are currently navigating through difficult times, the future is certainly looking promising for the Kingdom of Wonder at the moment.It is worth mentioning that the property market in the city 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.” Notably, for the past half-decade, the country 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.Fortunately, with the booming real estate market, and increasing value of property in the city, Phnom Penh city dwellers can look forward to the upcoming completion of the Peninsula Private Residences, an award-winning project comprising of a unique blend of a private residence, varied facilities, and hospitality-inspired services for a complete lifestyle investment. As the finest landmark at the gateway of Chroy Changvar district, The Peninsula is without a doubt, the future hotspot investment catering to a high-quality residential lifestyle, complemented with a unique Community Smart Living concept for the ultimate living experience. For those looking to own an affordable boutique living or an investment with solid returns, find out more by checking the Peninsula Private Residences project listing.View Full Property ListingInquire about The Peninsula Private Residences

Everybody loves a holiday and fortunately, the Royal Government has issued the official public holidays in Cambodia for 2022. The Kingdom’s holidays for 2022 total is 21, with a considerable number falling on weekends and Buddhist holidays overlapping with other public holidays.Official Holidays in Cambodia for 2022DATEOCCASIONDAYJanuary 1New Year’s DaySaturdayJanuary 7Victory over Genocide DayFridayMarch 8International Women’s DayTuesdayApril 14, 15, 16Khmer New YearThursday, Friday, SaturdayMay 1International Labor DaySundayMay 14The Royal Birthday of His Majesty King Norodom Sihamoni, King of CambodiaSaturdayMay 15 Vesak Bochea FestivalSundayMay 19 Royal Plowing CeremonyThursdayJune 18 Royal Birthday of Her Majesty Queen Norodom Monineath Sihanouk, the Queen Mother of CambodiaSaturdaySeptember 24 Constitution DaySaturdaySeptember 24, 25, 26Pchum Ben FestivalSaturday, Sunday, MondayOctober 15 Day in Honor of the Late King Norodom Sihanouk, His Majesty the King FatherSaturdayOctober 29 Royal Ceremony of His Majesty King Norodom Sihamoni, King of the Kingdom of CambodiaSaturdayNovember 7, 8, 9Royal Water FestivalMonday, Tuesday, WednesdayNovember 9 National Independence DayWednesdayLooking for a holiday home in Cambodia? Let us know!Inquire about properties in Phnom Penh

In July 2021, the Council for the Development of Cambodia (CDC) issued the "Draft Law on Investment of the Kingdom of Cambodia". The draft law seeks to create a favorable environment for investment to attract and promote quality, efficient and effective investments by Cambodian and foreign investors for socio-economic development in the Kingdom of Cambodia.The CDC highlights these 4 foundations of the upcoming investment law in Cambodia:Establishment of an investment incentive regime that is transparent, predictable, non-discriminatory, competitive, and supports socio-economic policiesModernization, increasing the productivity of local industries, strengthening the connection to the regional and global supply chain by promoting the growth of capital inflows, transfer of technology, and skill know-how.Increasing Cambodia's competitiveness to make its economic structure more diversified and resilient to regional and global crises.Providing protection of rights and interests to investors in the Kingdom of Cambodia through the establishment of a comprehensive and balanced legal framework in line with national interests.In order to increase the efficiency of providing services to investors, this draft law also highlights the mechanism for reviewing and deciding on private investment and resolving disputes related to investment projects through delegation to the Capital-Provincial Administration, as established by the Royal Government. Capital-Provincial Investment Sub-Committees will be established through succeeding sub-decrees.In addition, the draft law provides value-added tax exemptions for the purchase of locally produced inputs in order to link local producers to the investment project's production chain, as well as to promote the use of local products. The draft law is also designed to be flexible, with special incentives for specific sectors and investment activities that have high potential to contribute to national development in line with government policy. This special incentive will be set out in the Law on Financial Management.The new investment law incorporates some of Cambodia's international obligations to show all investors the commitment of the Royal Government of Cambodia to protect investment and provide guarantees in accordance with International law governing non-discrimination as well as the provision of investment maintenance servicesThe American Chamber of Commerce Cambodia (AmCham), last August 12, held a virtual forum on their Facebook page to discuss key points about the upcoming investment law. The forum was moderated by AmCham Governor Rina Ing and attended by AmCham President Anthony Galliano with special guests Jay Cohen, Partner and Director of Tilleke & Gibbins Cambodia, and Dr. Sok Siphana, founder of law firm Sok Siphana & Associates and Advisor to the Royal Government of Cambodia.In the discussion, the new law provides incentives for priority areas such as (but not limited to): research & development, job creation, skills training, development and innovation, and small and medium enterprises. Dr. Siphana emphasized on the importance SMEs play in Cambodia’s economic growth, citing that Cambodia’s tycoons are not representative of the Kingdom’s larger economy and the new investment law will grant SMEs the opportunity to be part of the regional supply chain.Key international trading partnerships to note for Cambodia are the China-Cambodia Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP), a massive free-trade agreement between China, South Korea, Japan, the ASEAN, and Oceanic countries.Jay Cohen mentions the importance of reviewing the “Negative List”, a list of businesses excluded from investment incentives. Cohen expects this list to be updated and will be setting a threshold for both local and international companies. He additionally stressed the importance of upcoming changes in taxes, remarking, “the devil is in the details”.As of August 2021, the new Cambodia investment law is still in its drafting phase and is expected to be ratified sometime in 2022.Interested in investing in Cambodia? Check out our Why Cambodia Guide!

On-track for June 2022 completionThe PARC 21 Residence, a new residential development in Chamkarmon, reports steady construction and is on track for its expected completion in June 2022 despite COVID-19. The project is currently topping off its 22nd floor and has started work on the swimming pool and other amenities located on the roof deck.Continued interest from buyers despite COVID-19The PARC 21 Residence continues to gather steam as almost a million dollars worth of properties were sold as of July 2021. The apparent value of the project - especially among middle-class Cambodians, expatriate buyers, and foreign investors - continues to drive inquiries and frequent visits to their showroom in The Point Community Mall along Mao Tse Toung Boulevard.The PARC 21 Residence is backed by an international group of investors based in Singapore and Hong Kong. It adopts the Singaporean design philosophy of a “A city in a garden” which builds residential units based on smart spatial planning and natural light allowing fluidity of movements.Buyers in the PARC 21 Residence understand the end of COVID-19 in Cambodia is a matter of “when”. The PARC 21 Residence also offers a 21% Guaranteed Rental Returns over 3 years, a highly competitive rate based on the developer’s confidence in the market’s potential to bounce back.Given PARC 21’s scheduled completion date is June 2022, international investors are equally confident Cambodia’s pandemic situation will be much under control, given the government’s continued efforts in maintaining a consistent flow of vaccines and widespread vaccination campaigns.But it’s not just foreign investors looking forward to Cambodia’s return to form. Cambodian property seekers are similarly expecting things to be better in 2022. PARC 21’s location in a widely popular area and affordable payment terms, among locals and tourists, will only benefit from the expected economic recovery by the time of its completion.New prices and discounts for August 2021The PARC 21 Residence has announced a new set of prices for August buyers as the project moves closer to its completion date. While prices may have risen, the PARC 21 has also extended an exclusive discount for buyers who book a unit within August 2021.The exclusive sales partner of the PARC 21 Residence, FazWaz Cambodia, notes there is currently $800,000+ worth of deals at the negotiation stage. The discount extension is expected to attract more buyers who are on the fence, and help close deals currently in negotiation before prices rise again in September 2021.Interested in the PARC 21 Residence? Inquire today before prices increase again!Inquire about PARC 21 ResidenceView PARC 21 Residence Property Listing

Cambodia’s property market saw a moment of reprieve in July 2021 with bumps in online searches for real estate and subsequent inquiries for projects continuing to market their discounts and flexible payment terms. This comes off the back of June 2021 that was reeling from Phnom Penh’s April-May lockdown.Earlier in July, the government recently announced the conclusion of its mass vaccination campaign in Phnom Penh and has focused its resources on other provinces like Kandal, Siem Reap, and Sihanoukville. The government is implementing a mass vaccination campaign for children ages 12 to 17 as part of its goal to achieve herd immunity in major economic centres like Phnom Penh.However, the recent spread of the COVID-19 delta variant has prompted health authorities to impose a new curfew in the first week of August. Google’s Mobility Tracker is starting to reflect the initial ramp-up of people choosing to stay home following the new lockdowns.SALE PRICES IN PHNOM PENHSale prices for new developments in Cambodia remain well below pre-pandemic figures. This market continues to see adjustments as the pandemic situation in Cambodia continues to spell uncertainty in the short-term and most property seekers become more discerning in their investments.Affordable and mid-range projects for the past year have been popular among the local market. The shift in attention by developers towards the local market has additionally highlighted the demand for flexible payment terms. Big developers are meeting this by forming partnerships with local banks to provide payment terms amenable to the majority of Khmer buyers.July 2021 price and size breakdown for condominiums in Phnom Penh:Unit sizeMedian price per sqmMedian unit size1 bedroom$1,81046 sqm2 bedroom$2,19472 sqm3 bedroom$2,545113 sqmMost Phnom Penh developers continue to see comparably low sales activity, with a few notable exceptions. The PARC 21 Residence in Boeung Trabek surged in popularity in June-July 2021 having closed almost $1 million in deals. The Singaporean-designed project is reported to have another $800,000 worth of deals in the negotiation stage, according to its exclusive sales partner FazWaz Cambodia.Realestate.com.kh, PARC 21’s exclusive marketing partner, notes the project’s popularity stems from meeting the demand of both local and international investors for projects with a strategic location, competitive pricing, and solid progress despite global supply chain disruption. The PARC 21 Residence is expected to be completed by June 2022.The disruption in global supply chains affected many of the new developments in Phnom Penh causing delays in construction As a result, investors still looking to invest in Cambodia have started looking at projects close to completion and even finished ones.The Silvertown Metropolitan is a completed project in BKK1 seeing renewed attention from property investors. Developed and managed by Naki Realty, Silvertown Metropolitan is a well-known serviced apartment among high-end renters in Phnom Penh. The project recently restarted its marketing efforts as providing a foot-in-the-door in the high-end renters’ market and as a finished project - saving investors the worry of “will this project be finished?”.RENT PRICES IN PHNOM PENHPhnom Penh’s residential rental market has largely stabilized within the pandemic market. Realestate.com.kh’s Market Trends shows little-to-no changes from last month’s recorded prices.June 2021 Price Trends by Bedroom for Apartments for Rent:1-bedroom apartment rent per month: 600 USD (No change from June)2-bedroom apartment rent per month: 1,000 USD (No change from June)3-bedroom apartment rent per month: 1,800 USD (No change from June)June 2021 Price Trends by Bedroom for Houses for Rent:2-bedroom house rent per month: 800 USD (No change since June)3-bedroom house rent per month: 1,500 USD (6.25% decrease from June)The renters’ pool in Phnom Penh remains low compared to 2019, before the pandemic prices. Until foreign workers and tourists return, rental landlords will have to find ways of attracting new renters and understanding the needs of their remaining tenants.District and Property Type Popularity in Phnom PenhRealestate.com.kh cites an increase in property searches in July 2021 across 8 districts in Phnom Penh. Property searches surged once again in July following confidence that there would be a return to “normalcy” within the context of COVID-19. Most popular districts in Phnom Penh as of July 2021:Chamkarmon - Remains the most popular district to look for property in Phnom Penh. Most users look for apartments/condos and landed properties in Tonle Bassac and Toul Tompoung I. Boeung Trabek also surged in popularity due to PARC 21 Residence. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyBoeung Keng Kang - One of Phnom Penh’s CBD, the BKK1 area remains a popular choice among many property seekers due to its central location and array of modern residential choices and quality-of-life conveniences. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyDaun Penh - The primary CBD of Phnom Penh where key tourist attractions are located and where most business and financial companies are headquartered. It is the central district of Phnom Penh and is the most developed. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyChroy Changvar - This peninsular district has overtaken other outer districts like Sen Sok as property developers and home buyers look to this area as the next suburban development hotspot in Phnom Penh. Most popular property types searched:Landed houseApartment/condoLand propertyCommercial propertyToul Kork - This central district is adjacent to Daun Penh and is comparable to the convenience found within the CBD. Most popular property types searched:Apartment/condoLanded houseCommercial propertyLand propertyRealestate.com.kh’s Condominium Market Overview in Phnom Penh is a monthly report based on its internal developer tracking and data collected from over 35,000 live property listings across Cambodia.If you’re interested in property in Phnom Penh, let us know by contacting our property advisors below!Looking for property? 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A busy road for a busy neighbourhood. The Russian Federation Boulevard is where hundreds of thousands of Phnom Penh residents pass through on a daily basis. Supplied.Phnom Penh’s suburban districts continue to see the property market’s outward expansion. The areas of Chbar Ampov, Meanchey, and Por Senchey, seemingly left behind just a few years ago, are receiving continued interest from residential developers capitalizing on the suburban living trend, followed by commercial developments meeting the rise of savvy shoppers.In recent years, Chbar Ampov has been a hotbed of borey developments, condominium projects, and even become site of the $2-billion Norea City project by the OCIC. Neighbouring Meanchey district has largely become more appealing to businesses since the completion of Hun Sen Boulevard and the announcement of the AEON Mall 3. The Japanese-brand mall AEON has seen much success in the Kingdom, having also recently announced plans to expand the capacity of AEON Mall 1 in Tonle Bassac, Chamkarmon.Por Senchey’s fast urbanisation is giving rise to modern commercial centres like Century Plaza. Supplied.The Por Senchey district is one of the latest additions to the capital city’s booming suburbs. Por Senchey serves as the gateway for all arrivals from Phnom Penh International Airport, leading to it being referred to as the airport district. Por Senchey is also one of the biggest districts in Phnom Penh in terms of land area and is home to a similarly large number of residents numbering ~227,000 or over 10% of Phnom Penh’s total population according to the General Population Census 2019.Additionally, Por Senchey is home to dozens of boreys (gated-communities), parks, schools, and major roads such as Russian Federation Boulevard, National Road 3, and National Road 4; roads leading inwards to Phnom Penh’s central business district and outwards to provinces such as Sihanoukville and Kampot. Given its large population and Phnom Penh’s outward expansion, Por Senchey is now realizing its potential as a commercial hub.The Old Market is a landmark among Por Senchey’s residents. Supplied.Por Senchey’s Old Market is among the oldest and most popular community markets in the district. Located along Russian Boulevard, it was a convenient place for locals to buy both wet and dry goods, making it the go-to area for Por Senchey residents’ daily necessities.In meeting the growing demand for a modern market in Por Senchey, developer JLECC partnered with the Phnom Penh city government to develop the Old Market into a commercial centre with modern shopping conveniences. JLECC is an established developer in Cambodia with 6 Chinese National Grade A Engineering Consulting Qualifications and 2 Cambodian National Grade A Design and Construction Qualifications.The Century Plaza is designed to take on a triangular layout to take advantage of the 3 roads surrounding it: Road 2005, 2009, and the Russian Federation Boulevard. Supplied.The new shopping centre called the Century Plaza will stand on top of the Old Market. Construction began in November 2019 and will feature 6 floors and 2 basement levels. Each floor will host a range of goods and services, including a supermarket, food & beverage areas, retail stores, and office areas. JLECC plans to include hotel rooms and services into the Century Plaza’s development due to its proximity of ~1.5km from the Phnom Penh International Airport.Century Plaza is already widely known in Por Senchey as the new shopping centre rising on top of the popular Old Market. The new shopping plaza already has over 670 stalls occupied mainly by the tenants of the Old Market. The stalls have temporarily been moved to the Por Senchey playground, in front of the Century Plaza’s construction site. Many in Por Senchey are looking forward to the project’s completion expected by late Q4 2021.View Century Plaza Property ListingArticle by:

Phnom Penh: To celebrate the official pre-sales on July 30th ,2021, The Botanic Palace will offer a special discount promotion of up to 12%. Moreover, buyers need to pay only 0.8& of the total price of the property per month spread over 24 months - no deposit and no interest!The Botanic Palace will be a new landmark delivering modernity, privacy, security, and superior facilities with new 3 different styles of the premier villa: 1- The Empress Lake, The Empress, and The Empress Twin.Each villa has its own special character complemented by its position next to the Botanic Lake, providing beautiful scenery residents can enjoy. Besides a beautiful and colorful The Palace Garden in front of its houses. These villas combine three generations of style, from timeless favorites of the past to the much sought-after comforts of modern design, making the Botanic Lake suitable for all generations of home seekers.Another rare privilege you will enjoy at The Botanic Palace is a beautiful private park: the Botanic Garden modeled on Melbourne’s Royal Botanic Garden, Botanic Lake The majestic centerpiece of The Botanic City is an expansive lake with elegant fountains. It provides a stunning backdrop to the most elite of lifestyles, Botanic Mall, Botanic Circus, The Palace Garden, and so on.This is a limited-time offer, be sure to inquire today. For more information, please visit our Sales Gallery along National Road 6A or call 098 73 3333.Looking for residential property? Click here to start your search!

Phnom Penh: The Botanic Palace, a new benchmark for modernity, privacy, security, and superior facilities developed by Orkide Development located in the main project of Orkide the Botanic City will be available for pre-selling soon at the end of this month​ (July 2021).This project will redefine the modern borey lifestyle, especially for those valuing comfort and privacy.The Botanic Palace showcases its source of rich inspiration through 3 styles of property, namely: The Empress, The Empress Lake, and The Empress Twin. These borey properties all combine the best styles from the golden eras of yesteryear and the much sought-after comforts of modern residential living.Dignified and stately - best describes this project's illustrious and ageless design. Another rare privilege you will enjoy at The Botanic Palace is a beautiful private park spanning the Botanic Garden. Modeled on Melbourne’s Royal Botanic Garden, The Botanic Lake is a majestic and expansive lake crowned as the centerpiece of The Botanic City. It provides a stunning backdrop to the most elite of lifestyles supported by the Botanic Mall, the Botanic Circus, The Palace Garden, and many more nearby amenities.The Botanic Palace will officially open for pre-selling on July 30th, 2021, with a very special offer.For more information, please visit our Sales Gallery along National Road 6A or call 098 73 3333. Looking for property? Click here to start your search!

Siem Reap attracts millions of tourists every year, leading to the city's boom in the past decade. Photo by Khmer Times.It was almost 6 am when the bus rolled into an open garage somewhere along Sivatha Boulevard. It normally takes a while for Bun, a Phnom Penh resident and heavy sleeper, to get up from an overnight trip. But today was different. His 6-hour cross country ride had a purpose: To see if he can start a business in Siem Reap.Bun first came to Siem Reap in 2010 and saw a city teeming with people. He was not surprised at the sight, considering the city has been receiving a lot of international attention. What caught him off guard was how relaxed the city’s atmosphere was.“Siem Reap felt different from Phnom Penh,” recalling the day he first came to the temple town. “It was active but not busy”. The roads were lively with tourists and locals, tuk-tuks and motorbikes ferrying passengers, and street food vendors peddling Cambodia’s fried delicacies. He knew then and there what he needed to ride the city’s growth.Bun came back to Siem Reap in 2011 in time to ride the wave. It took some time before he found a suitable place to renovate into a guesthouse with a small kitchen that can serve breakfast meals. “If there’s anything I know about tourists it’s: They get up, eat breakfast, and spend the whole day outside”, sharing his guesthouse philosophy.The turn of the decade in 2010 was a golden time for Siem Reap. Tourists from all over the world were flocking to the city, wanting to see the majesty of the Angkor Wat temples, specifically the Ta Prohm temple where Tomb Raider was filmed. After tourists spend the day in the temples, they go to Pub Street at night where they drink their exhaustion away and party until they’re told to leave.“But now, it feels like I have to make the choice to either stay or leave”, said Bun grabbing a small towel and disinfectant to wipe down a freshly vacated table.Siem Reap in the time of COVID-19Siem Reap's night markets are one of the city's key shopping areas. Photo by Our Travel Mix.The risk of contracting COVID-19 and its burden on the local economy are of equal concern to the people of Siem Reap. The roads once bustling with tourists wandering around, tuk-tuks kicking up dust, and fried insect peddlers with their recorded ads blaring on megaphones are now mostly silent.“I can’t remember the time when Siem Reap was this quiet,” said Daka Kun, a long-time resident of the city and founder of Daka Kun Realty, a popular real estate agency in Siem Reap staffed by local real estate experts. “COVID hit a lot of local businesses like pubs, restaurants, and local markets. They’ve all been hurting since Q2 2020.”As of April 2021, the Ministry of Tourism reports a drop of over 90% in foreign tourists, a blow to Cambodia's tourism industry valued at over $4 billion annually. The government has so far (July 2021) rolled out its 9th round of economic aid to provinces struggling due to COVID-19.Construction is currently ongoing along Siem Reap's major roads. Photo taken in June 2021 by Daka Kun Realty.Popular areas like Pub Street and the Old Market were once packed with locals, expatriates, and tourists on a daily basis, more so towards the end of the year. These places are no longer as busy, even among locals, given how community incidents back in November 2020 and February 2021 displayed how a cluster of less than a dozen can lead to a city-wide lockdown.“Residents of Siem Reap are still very careful about going out and maintaining social distance,” said David Granger, the Branch Manager of IPS Cambodia, a premier real estate agency servicing expatriates and Khmer buyers. “Not a lot of people go out on the weekends”“They tend to meet in smaller groups at private locations,” noting that residents, both locals, and expatriates have learned to live with the regulations. “Some of the bars and restaurants on Sok San Road, Sivatha Boulevard, and behind Pub Street do have foreigners visiting, but not in large numbers.”Siem Reap businesses that managed to weather COVID-19’s impact have maintained a few regulars that support them. However, most have shifted their models to adapt to the new climate. “Businesses have had to rely on food delivery apps, social media advertising, and their own promotions that encourage deliveries,” David said.From tourist market to buyers’ marketThe lack of tourists has given authorities the space to work on improving the temple grounds. Photo by Daka Kun Realty.Siem Reap may not have the crowd that it used to but it still attracts visitors, albeit a different kind. Daka Kun often sees them entering their office in Taphul village, and is upfront with what they need: “I’m looking for property here”.The news of the temple town’s hard times have reached far and wide within the Kingdom, attracting keen investors looking for properties well under market value. Both Daka Kun Realty and IPS Cambodia have observed this trend grow more pronounced in recent months.According to Daka Kun, buyers coming to Siem Reap often look for properties for as low as 40% below market price. She notes areas such as Svay Dangkum, a big commune in Siem Reap, and Sala Kamreuk, an area popular among expatriates, are locations often considered by property buyers if they are not looking for commercial properties in the city centre.“Siem Reap may be going through tough times but most people here know the value of their land”, Daka resolved that most properties for sale have not adjusted their asking prices unless the owners are strapped for cash.David similarly observed property sales prices in Siem Reap largely remain unchanged, saying “We [IPS Cambodia] have cash buyers who are both local and foreign buyers and they are looking to buy in any part of Siem Reap where they can find distressed sellers”.In terms of property buyers look for, villas, shophouses, and flathouses are the most common residential properties being considered. David notes that the market for well-priced, western-style homes and villas remains strong, due to strong demand for home purchases and a low supply of these properties on the market.Angkor Grace Residence & Wellness Resort is a major development in Siem Reap offering western-style properties for local and foreign investors. Supplied.Angkor Grace Residence & Wellness Resort is an example of western-style homes that are in demand for property investors. The project will be the first condo-resort that will offer freehold ownership for both local & international clients. Angkor Grace offers a 10 years leaseback with 7% to 8% guaranteed rental returns per year, making it an opportunity to invest in western-style homes in Siem Reap.While Siem Reap’s property sales market has managed to maintain interest, the same cannot be said for rental properties. “It’s been tough.” Bun cleared his throat, “I’ve tried a lot of things from cutting on overhead, offering package deals, to outright reducing prices. I consider it a win if I break even for that month”.Siem Reap's Pub Street is one of the most popular destinations for tourists throughout the day. Supplied.Siem Reap has a population of over 1 million residents according to the latest edition of the General Population Census 2019. This number swells by as much as another 2 million from the tourists arriving and departing the city annually. But as COVID-19 persists, tourist figures have dropped by as much as 77% so far in mid-2021, only being kept afloat by visiting locals.The drop in tourism forced many rentals to either slash prices or suspend operations altogether. “Rental prices dropped to 30% with some to almost 50% below what they were before COVID”, David said. He attributes the sharp decrease in rental demand to international borders being closed, adding that many tenants are moving out of their rentals to find lower-cost accommodations. “Hotels, guesthouses, and serviced rental apartments have been hit the hardest,” Daka sharing her observation of the market. “Prices for rental properties still operating have adjusted anywhere from 30% to 50% below their pre-COVID values. Not just because of the lack of tourists but also expatriates looking for cheaper places to live.” Daka adds that a considerable amount of businesses operating in Siem Reap are foreign-owned and the continuing slump in foot traffic has forced many expatriate owners in the city to look for more affordable places to live.It has become increasingly apparent among Siem Reap residents that the longer COVID-19 persists, the longer it will take to get on the path to recovery. However, an equal number of residents are starting to notice that they may well already be on that road.Improving more than 38 roadsThe 38-road project is a major infrastructure project by the Cambodian government to improve road access in and around Siem Reap. Photo by Daka Kun Realty.“I think calling it as the 38-road project understates the scope and the value of the project,”  David Granger said, referring to the extensive work currently turning much of Siem Reap’s road networks inside out. “Whilst the project does include the construction and upgrades of 38 roads, it is providing more benefits than that alone.”In November 2020, workers first broke ground on what would be popularly called the 38-road project. The massive infrastructure endeavour, estimated to cost $150 million, is part of the Siem Reap Tourism Development Master Plan 2020-2035, an apt name for an equally long-term goal.The 38-road project is an extensive government project that includes improving and rehabilitating the drainage & sewage systems, electrical infrastructure, and construction of pedestrian walkways and bicycle paths across Siem Reap. This has led to much of the city’s roadways and sidewalks being turned upside down, including those along Pub Street and the Old Market. It is no stretch to say that the project is one of the biggest Siem Reap has seen in recent years. As of June 2021, progress on the 38-road project is at 63% and is expected to finish on schedule by the end of the year.The 38-road project encompasses works on roads, sewage & drainage, and even sidewalks. Photo by Daka Kun Realty.Many in the city, like Bun, believe the project will have an overall positive impact on Siem Reap. “Yes, it’s difficult to move around today. But it’ll make the trip to my girlfriend’s house a lot smoother,” Bun laughed, momentarily forgetting his worries. “This part of town has always had a dirt road, so I look forward to walking on a proper sidewalk.”The boon to Bun’s romantic trips is not the only benefit the 38-road project would bring. IPS Cambodia’s David Granger is confident that the project will improve the quality of life in the city. “Residential and commercial areas within a 2km radius of the city are going to see vast improvements in infrastructure. Those within a 5km radius of the city are going to see improved access and spur development of new residential areas. And property owners up to 10km out from the city are going to enjoy better connectivity to the city centre and other parts of Siem Reap,” he said.Better road access and connectivity always drive real estate values up significantly. It also happens to be a given that Cambodian real estate investors keep their ears on the ground for the next big infrastructure project.Popular roads around Pub Street and the Old Market are also being worked on and are expected to increase accessibility to these areas once finished in Q4 2021. Photo by Daka Kun Realty.“The 38-road project is one of the factors driving interest in the city,” said Daka Kun. “People know it will be a good thing for Siem Reap in the long-term, so they are looking to buy property near these roads today”. Daka Kun notes that outer parts of Siem Reap may see a considerable jump in prices, especially if the property is by the roadside. “There are land properties in the city outskirts worth $20 to $30 per square metre that will see significant jumps in 2-3 years following the road project’s completion”, she added that city centre properties may also see a boost of around 20% in value, a more modest increase considering downtown properties are already pricey, to begin with. But roads are not the only things being worked on in Siem Reap.The new Siem Reap International Airport will be some ways away from the city centre but will allow Cambodia to accommodate more tourists in the coming decades. Supplied.The new Siem Reap International Airport is another project set to boost the city’s capacity to handle tourists. The new airport is located 51km southeast of Siem Reap and began its construction in March 2020. An extensive project of its own, it occupies 700 hectares and includes the construction of new 4E runways, taxiways, airside stations, terminal buildings, operational support projects, and external facilities including highways - all to accommodate a projected 7 million tourist arrivals every year. The project is reported to be 42% complete in May 2021, with expected completion to be sometime in 2023.The 38-road project and the new Siem Reap International airport are a few examples of the Cambodian government’s plan to keep the country competitive despite a sluggish global economy. It is quite clear among public officials and private groups that COVID-19 will not be letting up anytime soon and playing the long game would be the more beneficial path to take.The future of historic Siem ReapThe Angkor Wat grounds are regularly maintained by Cambodian authorities despite virtually little tourist activity. Photo by Daka Kun Realty.Siem Reap and its temples are often looked at by international observers as a tourist town. The city’s economy is largely built around the interest the Angkor Wat Temple generates via international tourist arrivals and the businesses that follow. But what most outsiders overlook is how the temples are much more than a source of income for Cambodians.“Angkor Wat is a source of pride for the Khmer people,” said Daka Kun. “Our ancestors built these magnificent structures and that gives us something to be proud of.” She mentions that the lack of tourists has not stopped Siem Reap residents from visiting the temples. Both locals and expatriates still hold picnics on the open grounds, run laps around the temples, and even enter the complex to experience the temples by themselves.“The Angkor Wat is featured on the Cambodian flag and is a powerful symbol for the country,” said David Granger. “Angkor Wat is referred to as the 8th wonder of the world and is the largest religious structure in the world, meaning there will also be a fascination in this temple complex by international visitors”David explains that because the temples are part of the UNESCO listing, Siem Reap city is protected from the overdevelopment that befalls other cities. This ensures that Siem Reap will always retain the charm that makes it such a popular city to live in and to visit.“We expect that when pressure from COVID on the international economies begins to fade, the benefits of the infrastructure project will begin to be seen with the unfreezing of price rises in the Siem Reap property market,” he said.For business owners like Bun, infrastructure developments like the 38-road project and the new airport are signs that Siem Reap will remain to have a bright future. “Siem Reap may not have the same vibrance as before,” said Bun, “But people here have not lost their spirit and we’re all ready to welcome tourists back once COVID-19 is over”.*This article is part of Realestate.com.kh’s Industry Insights series. Check Realestate.com.kh's property listings in Siem Reap today!Article by:

The PARC 21 Residence is extending its special offer with another round of discounts. Buyers can get a minimum of 6% discount for the whole month of July!The popular project has been well received as one of the few developments that build on Chamkarmon’s status as the more affordable alternative to centrally located districts like BKK1 and Daun Penh, without being too far away!What makes the PARC 21 Residence popular?Despite the ongoing pandemic, the keenest of property buyers are still looking for property in Phnom Penh. The PARC 21 Residence is one of the few developments offering a clear value proposition to many buyers and investors on the hunt for the best prices possible.The PARC 21 Residence is a new 132-unit residential property being developed in Boeung Trabek, Chamkarmon. The project adopts the Singaporean residential concept of “A City in a Garden”, which sees the use of smart spatial planning to create a comfortable living environment in the middle of a busy and growing area.As a result, PARC 21 has attracted a portion of young Cambodian professionals looking for a comfortable place to live close to a lot of shops, restaurants, bars, and markets. The PARC 21 Residence has also attracted many families, especially expatriate families. The project is close to international schools such as the CIA First International School, Canadian International School, iCAN British International School, and the International School of Singapore (ISS).Local markets such as the Boeung Trabek Market and the popular Russian Market are nearby (less than 3 minutes). Modern shopping centers are also within a comfortable drive. The AEON Mall 1, the most popular purpose-built shopping mall in Phnom Penh, and the Chip Mong Noro Mall, one of the newer shopping malls along Preah Norodom, are both less than 10 minutes away.All these conveniences resulted in the PARC 21 Residence closing over $700,000 in property deals in just 1 week of an exclusive partnership with Realestate.com.kh and FazWaz Cambodia - one of the highest sales figures achieved in such a short time during a pandemic.Interested in learning more? Download the free brochure or inquire about the project through our listing!DOWNLOAD FREE BROCHUREORVIEW PARC 21 PROPERTY LISTINGArticle by:

Weekly property news recap for real estate-related events this 4th week of June.PARC 21 Residence closed over $700,000 property deals in first week of exclusivity with Realestate.com.kh and FazWaz CambodiaPhnom Penh’s booming property market offers plenty to home seekers and the rising competition makes it hard to stand out, especially during the pandemic. But PARC 21 edges other projects within its vicinity through clear communication of its value to buyers simply looking for a good deal. Read the full article here.MPWT completes feasibility study on Phnom Penh Monorail and Subway projectThe feasibility study of the Monorail Way and Subway project for Phnom Penh has been completed, according to Sun Chanthol, the Minister of Public Works and Transport. In the report to Say Chhum, the President of the Senate, the MPWT Minister shared the achievements and progress of the Ministry with the rest of the government ministers. Read the full article here.“A new look” for Sihanoukville after online gambling and initial impact of COVID-19Despite the bygone days of casinos, Sihanoukville managed to still have aces up its sleeves. Check out these photos showing how Sihanoukville progressed through the gambling ban and the initial impact of the global pandemic. Read the full article here.Readiness to host SEA Games 2023 boosts confidence in Chroy Changvar propertiesVath Chamroeun, Secretary-General of the National Olympic Committee of Cambodia (NOCC) held firm that Cambodia will not give up the hard work invested in preparing for the games. He also underlined the committee’s efforts in implementing its strategic plans for the SEA Games 2023. The Secretary-General extended Cambodia’s readiness to hosting the ASEAN Para Games 2023. Read the full article here.Do you need help looking for property? Let us help!

The upcoming SEA Games 2023 and ASEAN Para Games 2023 are expected to introduce a new round of interest in Chroy Changvar district. Supplied.In a report by the Khmer Times, Cambodia reaffirmed its readiness to host the upcoming SEA Games 2023.The Kingdom’s commitment to hosting the event was made by Vath Chamroeun, Secretary-General of the National Olympic Committee of Cambodia (NOCC) in a virtual meeting with representatives from the Southeast Asian Sports Federation to discuss Vietnam’s proposal to postpone the SEA Games 2021 to next year.Chamroeun held firm that Cambodia will not give up the hard work invested in preparing for the games. He also underlined the committee’s efforts in implementing its strategic plans for the SEA Games 2023. The Secretary-General extended Cambodia’s readiness to hosting the ASEAN Para Games 2023.The upcoming SEA Games are expected to boost Chroy Changvar as one of the most-eyed property markets in Phnom Penh. The peninsular district has been on the sights of many developers for its pristine natural beauty and the increasing popularity of suburban living, especially among the Cambodian middle and upper class.Developments like The Peninsula Private Residences, La Vista One, Morgan Park Villa, and Morgan EnMaison are popular projects drawing significant attention from property buyers and are becoming established investment properties in the district.The WorldBridge Sport Village will house several sporting facilities allowing residents to live a healthy and fit lifestyle within Chroy Changvar. Supplied.In the context of the SEA Games 2023, however, the WorldBridge Sport Village stands to benefit the most as the project is adjacent to the Morodok Techo National Sports Complex where the SEA Games 2023 will be held.The WorldBridge Sport Village will be the first sports village in Cambodia and occupies a 63,576 sqm area. As the country’s first true sports village, it will offer modern sports facilities like an aquatic centre and training halls & fields. Residents at the WorldBridge Sport Village will get to live a fit lifestyle in any one of the project’s 1,747 residential units made up of condos and landed properties.The WorldBridge Sport Village broke ground earlier this year and is expected to be completed in time for the 2023 SEA Games and 2023 ASEAN Para Games. You can view the full property listing for WorldBridge Sport Village here.Interested in properties in Chroy Changvar? Let us know!

The PARC 21 Residence showroom in The Point Community Mall along Mao Tse Toung Boulevard. Supplied.The PARC 21 Residence recently closed $700,000 worth of units in the first week of marketing and sales with partners Realestate.com.kh and FazWaz Cambodia.In a press release earlier in June 2021, the PARC 21 Residence appointed Realestate.com.kh, Cambodia’s largest real estate classifieds portal, and FazWaz Cambodia, the first tech-enabled real estate brokerage in the country, as its exclusive marketing and real estate partners, respectively.Positive market receptionThe PARC 21 Residence takes inspiration from the Singaporean idea of “A City within a Garden”, a concept using smart spatial planning to create a comfortable urban residence. Supplied.The PARC 21 Residence is a new 132-unit development in Boeung Trabek, Chamkarmon. Its location is a high-traffic area near the popular Toul Tompoung Market (Russian Market) known for its many shops and restaurants and close to two major roads: Preah Monivong and Mao Tse Tong Boulevard, both roads leading to central business districts like BKK1 and Daun Penh, and to developing areas like Sen Sok, Chbar Ampov, and Meanchey.“Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations,” said Pearl Yu, Senior Sales Manager for PARC 21 Residence. “Our location in Boeung Trabek meets this demand for the same urban convenience without the same high costs”.With the help of Realestate.com.kh and FazWaz Cambodia, PARC 21’s vision of providing a quality residence was well received by many property seekers in Phnom Penh.“I liked the style and concept of PARC 21 Residence. It’s in a good location for a great price. I believe it’s a sound investment for passive income”, Mr. Albert, Singaporean, purchased a 2-bedroom penthouse.“It’s just what my family is looking for. It has a great view, feels cosy, and is in the best spot for my family to move around. PARC 21 is especially close to international schools where my children go. For family time, there’s plenty to go to as dozens of restaurants offer local and international food close to PARC 21”, Mr. Paul, British, purchased a 3-bedroom penthouse.“My family has been looking for a new home near the city center for quite some time now. We saw PARC 21 is close to the markets and to an international school my daughter attends. And with the deal FazWaz Cambodia was able to negotiate, it was an easy decision for us”, Ms. Thida, Cambodian, purchased a 2-bedroom apartment.Despite the ongoing pandemic, the PARC 21 Residence quickly closed over $700,000 in sales as it was able to communicate its value through its exclusive marketing and sales partners.ADVERTISE WITH USValue per square metrePhnom Penh’s booming property market offers plenty to home seekers and the rising competition makes it hard to stand out, especially during the pandemic. But PARC 21 edges other projects within its vicinity through clear communication of its value to buyers simply looking for a good deal.The PARC 21 Residence offers a great value per square metre compared to other projects within a 5km area. The project is close to many popular commercial destinations such as:Russian market (<3 mins away)Boeung Trabek Plaza (<3 mins away)Chip Mong Noro Mall (<5 mins away)AEON Mall 1 (<10 mins away)Naga World (<11 mins awaySeveral international schools of note are within a comfortable drive from PARC 21:ISS International SchoolZion International SchoolBlueBird British International SchoolCIA First International SchoolThe Giving Tree International SchooliCAN British International SchoolCanadian International School (CIS)East-West International SchoolFootprints International SchoolThe PARC 21 Residence is on track to deliver its units for handover by June 2022. If you’re interested in this project, let us know today!PARC 21 Full Property ListingDownload PARC 21 Brochure

It seems that only a few months ago, commuters on National Road 3 complained about the difficulty of commuting due to the bad road conditions, but recently the Ministry of Public Works and Transport released new updates on the latest progress in the rehabilitation of National Road 3 - soon approaching 100% completion.Senior Minister Sun Chanthol and a joint delegation inspected the progress of National Road No. 3 on June 22, 2021, a long stretch of road from Chom Chao roundabout to Kampot and has a total length of 134 kilometers. The project was built by China Road and Bridge Corporation under the technical supervision of Guangzhou Wanan Construction Supervision Co., Ltd.The project took 48 months to build, with a total budget of $219,911,000, with financial assistance from the People's Republic of China and the contribution of the Royal Government of Cambodia. This project is almost 100% completed.The road will also be equipped with 14 speed cameras and 2 weighing stations. Plans are also in place to install AI Camera and High Speed ​​Weigh in Motion sensors.On that occasion, HE Senior Minister requested all people who use the road to respect the law to take care of our national property to survive and use for a long time because the Royal Government has made efforts to raise funds to build difficult and insisted: "Do not risk overweight transport that causes road damage. Do not cause traffic accidents, do not exceed the speed limit set by law to contribute to the building of our motherland to grow even more under the wise leadership of Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia."HE Senior Minister also shared plans to improve National Road No. 41, National Road No. 31, National Road No. 33, the construction of the bridge in Kratie, and some other construction projects to help reduce logistics costs to attract investors.It should be noted that the completion of the National Road 3 project will not only save time and money to travel to the area along the road, but it will also promote tourism to the relevant provinces to attract more tourists.

The BTS SkyTrain in Bangkok is an example of a mass transit system running through a city’s busiest areas. Photo from Property News.The feasibility study of the Monorail Way and Subway project for Phnom Penh has been completed, according to Sun Chanthol, the Minister of Public Works and Transport. In the report to Say Chhum, the President of the Senate, the MPWT Minister shared the achievements and progress of the Ministry with the rest of the government ministers.Minister Sun Chanthol additionally reported that the MWPT cooperated with the Japan International Cooperation Agency (JICA) to plan the development of the Electronic Data Interchange (EDI) Port project, the upgrades to the Phnom Penh Autonomous Port, and the development of a mass railway transport system.The absence of a mass transport system remains a much-needed development sector in light of Phnom Penh’s rapid city growth and expanding middle class. While a growing road traffic volume may indicate increasing economic activity, there are drawbacks such as increased travel time, fuel costs, and environmental damage.While technical specifications of the proposed city train have not yet been unveiled, it was noted that the train and railways will be using materials to reduce noise coming from the train - a factor that will affect the living standards of residents nearby the tracks and stations. The cost of this recently proposed train is reportedly lower than those previously considered.There has been no report on the possible train route as of writing. It is worth noting, however, both residential and commercial properties nearby mass transport projects see a significant increase in value given the nature of mass transport systems making it easier for commuters to go to the busiest areas of a city like Phnom Penh.Article by:

Sihanoukville continues its construction boom even after the departure of online casinos in late 2019. Supplied. Sihanoukville was once a city that drove both local and international headlines. Considered the next hot property investment destination, Sihanoukville blew up as a prime residential, commercial, retail, and up until 2019, gambling hub in Southeast Asia. The city was the microcosm of Cambodia’s rapid development in the past decade. Boomtowns, like Sihanoukville, are cities experiencing a fast pace of growth but often have limited infrastructure to support them. Photo from the Southeast Asia Globe. Sihanoukville, a once-sleepy beach town on the southern coast of Cambodia, became a boomtown in light of Cambodia’s fast-paced real estate growth and the rise of online gambling operations in Southeast Asia. The latter was a key driver to the city’s growth as droves of operators flocked to the city to take advantage of gambling licenses allowing operations to be set up legally. Online casinos geared towards the Chinese market were the most prevalent in the city attracting many Chinese nationals to move and work in the city. The influx of a new market with higher budgets drove Sihanoukville’s property markets to skyrocket in a matter of months. According to the Khmer Times, the government granted over 160 gambling licenses to operators across the country in mid-2019. Photo from Bloomberg/Getty Images. The city’s boom would soon meet its first slow down as in August 2019, the government decreed that it would no longer accept and renew online gambling licenses. The news rippled throughout Cambodia forcing online casino operators to move out of Sihanoukville and other gambling towns like Poipet (bordering Thailand) and Bavet (bordering Vietnam). According to government numbers, over 100,000 foreign nationals left the Kingdom by early 2020. The exodus of online casinos from Sihanoukville would not be the end of its struggles. As Cambodia ushered in 2020, the outbreak of COVID-19 soon reached the Kingdom with the first positive case of a resident of Sihanoukville province. The already dwindling numbers of international travelers further hurt Sihanoukville’s economy transitioning back to a beach resort/ecotourism for local and international visitors. The COVID-19 outbreak was a blow to the city that put it on its economic knees. Despite the bygone days of gambling, Sihanoukville still had aces up its sleeve. Sihanoukville’s new look in 2021 Photo from Discover ASEAN Facebook. Historically, major port towns throughout history have developed the fastest with some progressing to become the capital cities like Bangkok, Manila, Tokyo, and Singapore. Sihanoukville may not be Cambodia's capital, but it may as well be the queen city of the south as it hosts Cambodia’s only major deep-sea port managed by the Sihanoukville Autonomous Port (PAS). This allows the city to be the gateway of international brands to Cambodia’s growing consumer market. Photo from Discover ASEAN Facebook. As a province, Sihanoukville is home to many Special Economic Zones (SEZs) providing much-needed employment and skills to the area. Sihanoukville also has the Sihanoukville International Airport (KOS) which delivers tourists directly to beaches that have seen many renovations after the departure of online casinos and the lull in international travel. Photo from Discover ASEAN Facebook. The hurdles the Sihanoukville experienced in the past 2 years may have slowed its progress but it has not put it to a halt. On the contrary, it has even allowed for big luxury developments like Morakot Island (Koh Puos) to establish itself as a private island getaway offering large villas in the city. Sihanoukville, on the grander scheme of things, has been afforded the breathing space it needed to quietly transition into an area that capitalizes on its manufacturing hubs, skilled labor, natural resources, and access to the wider international market. Interested in properties in this major coastal town? Check out our property listings in Sihanoukville. Article by:

Phnom Penh, Cambodia - Parc 21 Residence appointed Realestate.com.kh, the largest property classifieds portal in Cambodia, as the exclusive marketing partner for the 132-unit condominium project located in Chamkarmon, Phnom Penh. Parc 21 Residence has also chosen Fazwaz Cambodia as its exclusive real estate agency for the development. Earlier in 2021, Realestate.com.kh & Fazwaz Cambodia announced an MOU in a massive boost for agencies and property developers in Cambodia. Pearl Yu, Senior Sales Manager at Parc 21, noted, “We launched Parc21 in May 2020 in line with the booming tourism market and growing Cambodian middle class. Based on our research we felt like the majority of condominium developers entering the market were focused on Tier 1 locations such as BKK1 and Diamond Island, and that there was a real need to fulfill a gap in the market to meet demand from both local and international buyers looking in Tier 2 locations”“Early sales were extremely promising, but of course, no one could predict COVID-19 and the prolonged effects on real estate markets. As a response to the slowdown, we decided to focus less on sales and marketing of the project and focus our efforts and resources on continuing Parc 21’s construction. We can proudly say that today we were only delayed a month due to the pandemic and we are on track to hand over units in mid-2022”“Considering we are handing over in 2022, we reached out to Realestate.com.kh to help supercharge our marketing again, we worked with them when we launched and joined the online sales event in June 2020 where we successfully sold one of our Penthouse units, most impressively Fazwaz Cambodia has closed more than $4 million in condo sales in Q1 2021, during one of the toughest periods to sell units, we were very attracted to both Realestate.com.kh and Fazwaz ability to attract high net worth local buyers and international investors” Tom O’Sullivan, CEO of Realestate.com.kh said, “Realestate.com.kh has been at the forefront of real estate marketing in Cambodia since 2009, we are well versed in where to focus marketing spend to get the best quality leads for developers, separately we also work with all of the real estate agencies in Cambodia so its very efficient for developers to work with Realestate.com.kh to distribute their offers, promotions and marketing material to every agent in Cambodia. Realestate.com.kh, as a marketing platform, is supplemented  by Fazwaz’s strong sales team and strategy and plays a major role in the end-to-end sales and marketing process for Parc21” James Whitehead, CEO of Fazwaz Cambodia said, “We have had the opportunity to work exclusively with multiple developers but we wanted to make sure it was the right project to bring to the market as our first exclusive project in Cambodia, despite Parc 21 scaling down sales and marketing efforts in 2020 they still charged ahead with the construction of the project and handing over next year - this gives us (Fazwaz & Realestate.com.kh) and buyers great confidence to really get behind this project“About Parc 21 ResidenceParc 21 is a residential property development located in Boeung Trabek, Chamkarmon district in the capital Phnom Penh, Cambodia. Parc 21 is developed by JV Parc Residence Co., Ltd, a joint venture between investors from Singapore and Hong Kong.Parc 21 Residence is located in the cosmopolitan district of Chamarkmon. The project is made up of 21 floors with 132 residential units each with a balcony. Parc 21 also boasts several amenities including a swimming pool, jacuzzi, gym/fitness center, and office area to complement its modern residential comforts.Parc 21’s location is an area popular among locals and tourists for its many shops, restaurants, pubs, and cafes. It is a key development strategically located in the south-central area of Phnom Penh with high rates of growth and convenient access to other areas of the city such as Daun Penh, Boeung Keng Kang, 7 Makara, and Meanchey districts.About Realestate.com.kh Realestate.com.kh, established in 2009, is home to over 20,000 live property listings making it the largest real estate classifieds portal in Cambodia. Realestate.com.kh works with the leading real estate agencies and property developers in the Kingdom to meet the demands of both local and international property seekers and endeavours to further develop the larger Cambodian property market as the most attractive real estate investment hub in Southeast Asia.Aside from being a popular online platform, Realestate.com.kh also organized several popular offline events since 2018 that connected real estate agents, property developers, investors, and home seekers with the best deals available on the market.About Fazwaz CambodiaEstablished in 2020 in Cambodia, FazWaz KH is the first tech-enabled real estate brokerage in the Kingdom. FazWaz Cambodia represents a new way of doing real estate by giving anyone the opportunity to make money in the country’s growing real estate market and provide the best service and safest possible investment to property seekers and investors in the country. Contact Information:Tom O’SullivanRealestate.com.kh, CEOtom.osullivan@realestate.com.kh James WhiteheadFazWaz Cambodia, CEOjames@fazwaz-kh.com