On the 20th of August, 2017, Creed Group will officially open the “ARATA Garden Residences” (ARATA). Creed Group is a Japanese real estate firm with more than 20 years of experience in the real estate market of Japan, and has been investing in the growing real estate markets of Malaysia, Vietnam, Myanmar, Bangladesh, Laos and Cambodia since 2012. ARATA is Creed’s third project in Cambodia -- made possible with the help of local investor “Triple Gem Assets Co., Ltd.”Creed Group's first project is the condominium “Bodaiju Residences”, located just opposite of the Phnom Penh International Airport. The second project is “Boray Maha Sensok”, which will be completed at the end of 2017.Creed and Triple Gem have started cooperating with another Japanese developer “Hoosiers Holdings” for ARATA. Hoosiers has developed 261 projects and 20,000 units since its establishment in 1994. It is listed in the First Section of the TSE (Tokyo Stock Exchange). Creed and Hoosiers will be bringing the “Japanese way” of managing, construction quality, and landscape design into Cambodia.ARATA is composed of more than 500 units for phase 1. It provides various selections of house types such as Shop Houses (A&B), Luxury Link Villas (A&B), Twin Villas, Jack Villas, Queen Villas, and King Villas.It also offers a variety of facilities such as a swimming pool, a kiddie pool, a playground, a coffee shop, a mini mart, gym, a badminton court, and a regular shuttle bus to the 2nd AEON Mall. The projects focuses on being a modern and fresh living environment. It's a large-scale landscaped development that can sustain the thick and abundant greenery for a very long time. This results in creating a more pleasant environment for the entire district over the years. ARATA means “New” in Japanese and "Thmey" in Khmer, inspired by “Phnom Penh Thmey”.One of the advantages of ARATA is its remarkable location. It is located at Banla Saet Village, Sangkat Khmounh, Khan Sen Sok, Phnom Penh, which is one of the fastest growing areas in terms of land price and population, and on the 40-meter wide road according to Phnom Penh’s master plan. Moreover, it is only about 800 metres away from Hanoi Boulevard and has easy access to the 2nd AEON Mall, Makro wholesale, and other business establishments.Besides its location advantages, the iconic architecture is designed by Japanese Architect Hisaya Sugiyama, principal at Quincy Studio Inc. One of his outstanding concepts is the park along the 40-metre-wide road. The 1 hectare of the park is uniquely landscaped, running vertically from east to west. And the ground is purposely uneven to create the walking trails and the shades. It is designed for the residents and the neighbours to gather and create a community space where they can walk, sit on the bench and chat, relax, dance, or play sports on the grass.Get more information about ARATA Garden Residences and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

Looking for your first home is a big step in your life. Scouting for a good location, picking a type of house, fixing your budget, then finally moving into the property is a long and often stressful process. And while you may have found a good home, it may come empty and needs a bit more personalization. This will be another task that will take time, money and attention.Below are a few basic tips for first time homebuyers to help decorate and settle into your new home, thanks to Realestate.com.kh:Interior design concept:Before you get started, consider what your design concept will be and what you personally want  for your house. In line with this, there are three type of concepts you can select, including traditional, modern, and contemporary. Whatever concept you choose, the overall goal should be to turn the empty space into a flexible and multi-functional area.In Cambodia, people believe in feng shui, and believe this layout offers more luck for the family. So, you should consider this concept when renovating and decorating in Cambodia - as it will boost your chances of a higher resale of the property in future.Budget plan:Homeowners will always need to have a budget plan before considering any plan of the interior design of the house. You can have a design firm check to see if the master plan will fit into your budget. A render sketch is first designed by the interior designer to show the property owner for approval. After this, a clear quotation is issued. You can now use this to cross-check if the design fits your budget.  Normally, for this service, a minimum price starts at around $4,000 in Cambodia. However, you can spend more or less depending on the type of materials you prefer.Materials:Material is a significant factor that can help your house become more attractive. There are many types of materials you can choose from, including either recycled or modern material. In Cambodia, however, recycled material sometimes costs higher than modern materials due to the lack of resources - including equipment and specialists. The quality of materials determine the price of each material type.Contractor and interior service:Choosing an interior design firm doesn’t mean you choose the contractor. You can choose the interior firm for both designing and construction services. But you can also hire them separately. As a suggestion, homeowners should avail of both services from one company because it’s easier in terms of coordination. Hence, the process is bound to finish on time and to spec.Keep your eyes on the interior designer firm:You can let the contractor do their work, but you need to check on the progress of the design in order to make sure everything is done correctly and that everything will be completed as scheduled. Ensure that the materials you ordered are not being exchanges for cheaper replacements, and make sure that workers are not cutting corners in the work.Find out more about making the most out of your property investment on realestate.com.kh today.

Knight Frank Cambodia, a leading independent real estate consultancy in Cambodia, released its latest half yearly commercial and residential report for 2017. The report highlights 4 main sectors: office sector, retail sector, serviced apartment sector and condominium sector. Phnom Penh office sector:The Phnom Penh office space supply saw a 21 percent rise in the first half of 2017 compared to the same period last. Almost 50, 000 sqm of office space was delivered across 8 projects with the majority of the supply remaining Grade B and C buildings. Grade A office space represents only 16% of the total supply. According to the Knight Frank Cambodia report, as at H1 2017 the Phnom Penh office stock was recorded at 330,085 sqm of net lettable area (NLA) showing a 21% increase in office supply when compared with 271,913 sq m of NLA recorded at H1 2016.During H1 2017, 48,217 sqm of office space was delivered across 8 projects with Exchange Square being the only Grade A building adding approximately 18,000 sq m to the prime office supply. The new supply included City Tower Asia, Bred Bank building, Sokea International, Aston Tower, Time Tower, Ione Building and 79 Office Tower.With the share of Grade A office space supply expected to rise up to 72 percent as developers shift focus from residential to commercial development, rental prices for Grade A office space remain flat.As at H1 2017, asking rents for prime office space ranged from US$19 to US$38 per sq m per month. The completion of Exchange Square during the second quarter of 2017 has resulted in a stabilisation of rental prices for Grade A offices leaving potential tenants in a stronger negotiating position, according to the report.Regarding office sector outlook, the report predicts the office stock to reach 529,143 sqm within the next 3 years increasing the supply by 60%. Demand for office space is expected to increase over the medium term as Cambodia continues to attract foreign investment.However, the significant Grade A incoming office supply will require suitable pricing in order to attract tenants. Grade B and Grade C office buildings are likely to maintain their occupancy levels in the region of 85%.PHNOM PENH RETAIL SECTOR:At present, Phnom Penh retail is the most dynamic sector with new retail formats and operators continuing to enter the market. New entrants mostly came from the United States and Europe.According to the report, Phnom Penh’s retail sector is expanding with 267,870 sqm expected to come online within the next few years bringing the total supply to 430,275 sqm.The incoming supply will likely impact rents as landlords seek to retain existing tenants with prices and rental average asking rents for prime retail units (below 100 sqm) in prime shopping centres remaining flat. However, Vattanac Capital Tower maintained its leading position in terms of prime rents– up to US$70 per sq m per month, says the report.  Lower rates were noted in secondary malls like Sorya Center Point and depend on a number of factors such as tenant brand, the size of the unit and its location within a project. They vary from US$10 to US$22 per sqm per month for anchor tenants while the smallest units below 10 sqm find tenants for a rent of up to US$250 per sq m per month. Ross Wheble, Country Director of Knight Frank Cambodia, anticipates that the remainder of 2017 will continue on this upward trend with food retailing expected to account for the largest share of the market.Mr. Wheble points out that in addition to the incoming retail supply, the arrival of new international retailers is another sign of the potential that Phnom Penh is holding. European and American brands are gradually entering the market increasing the retail offer.PHNOM PENH SERVICED APARTMENT SECTOR:With new entrants to the market including one of the biggest international operators of serviced residences worldwide, The Ascott Limited, the serviced apartment sector in Phnom Penh is set to become more competitive with concern of the glut in the market.  According to the report, eight serviced apartment buildings completed during H1 2017, bringing the total supply to 4,531 units being monitored in Phnom Penh, recording an increase of 6.9% compared to Q4 2016.The increasing supply has placed downward pressure on monthly rental prices (figure 9) with central locations commanding an average monthly rental price between US$18 to US$30 per sq m, while average rental prices for mid-tier units fall between US$9 to US$16 per sq m per month as at H1 2017, says the report.Despite concerns of an oversupply, the serviced apartment sector recorded an occupancy rate of 70% over H1 2017. PHNOM PENH CONDOMINIUM SECTOR:Over the last five years, Phnom Penh condominium sector has been seeing an increase in supply, especially in the high-end segment thanks to its relatively attractive rental yield.According to the report, condominium supply was recorded at 4,794 units as at H1 2017 with an additional supply of 1,392 units. Despite an oversupply situation in the high-end segment, condominiums that are priced below $50,000 are recording strong sales. Commenting on this, Mr. Wheble said: “buyers are adopting a wait and see approach that can be partly attributed to the uncertainty surrounding the general elections in 2018. Prime locations like BKK1 and Tonle Bassac still command the highest rental rates as demand still outstrips the existing supply. In view of a slow down in the market, several developers have ceased sales and are returning buyer deposits.  The average monthly rent in prime locations ranges between US$16 to US$26 per square metre while outer areas command rents between US$9 to US$12 per square metre.  With regard to the condominium sector Outlook, Mr. WHEBLE stressed that the challenge in attracting buyers requires developers to provide better quality and well managed projects. The anticipated oversupply of high-end apartments and the uncertainty surrounding the upcoming general elections have impacted on the condominium sector.Download the full report today!Find out the best real estate news on Realestate.com.kh

Located in the northern part of Phnom Penh City, Toul Kork is increasingly attracting both expats and locals, largely because land prices in BKK have skyrocketed in recent years. The peak land price in BKK has changed newcomer’s mind by choosing to move to cheaper but potential location such as Toul Kork. Currently, Toul Kork is becoming more popular for newcomers, especially foreigners seeking permanent residence in Cambodia.Sorn Seap, founder and director of Key Real Estate, said: “Toul Kork has been regarded as a great residential area for a long time ago with many special characteristics. It is considered as the second best residential area after BKK, the best location in Phnom Penh. Recently, there are a few new projects underway such as The Gateway and Phnom Penh City Center, which contributes to Toul Kork’s attractiveness.”Mr Sorn explained that the development process with regards to residential and commercial operation in Toul Kork is quite similar to BKK. Therefore, how BKK has developed will apply to Toul Kork. In the near future, we will have another BKK area in Toul Kork.”Houses for rent and sale in Toul Kork vary in price based on locations, sizes, and functions. Villa house, in particular single villa house, is a good option for office spaces. But if you want to use your property for commercial purposes, you can consider flat houses which can be used as a shophouse.According to Mr Sorn, “Prices of Villa house range from $700,000 to $2 million. Prices of flat houses along the main road ranges from $300,000 to $600,000 while prices of those along the small roads range from $100,000 to $200,000”.“Renting price of villa house ranges from $2,000 to $5,000 per month, while renting price of flat house or shophouses ranges between $1,500 to $2,500 and $350 to $650 per month for the main roads and small roads respectively.”Check out all type of property for sale and rent with Key Real Estate.  A report released by VTrust Appraisal says that there was a slight increase in land prices in the area from 2013 to early 2016 which moved average rates from $2,150 to $2,530 per square meter. Prime commercial streets have also been reported to reach up to $5,750 per square meter in central Toul Kork. The lowest land price average comes from the Boeung Kak Ti Muoy Sangkat, at $1,820 per square meter. The highest land price average comes from the Phsar Depou Ti Bei Sangkat, at $3,630.“Over the last decade, Northern fringes of Tuol Kouk district were the first main destination for residential relocation because of its available large portions of vacant land and a neighborhood of the central parts of the capital,” according to the report.Specializing in all types of property for rent and sale throughout Toul Kork area, Key Real estate has more than 10 years of working experience with both local and international teams.With a vision to provide the best quality services for all property valuation in Cambodia, Mr Sorn concluded that Key Real Estate strives to offer its clients better and more reliable quality service, aiming to contribute to the growing Cambodia’s real estate sector. Key Real Estate is your win-win partners!”Learn more about hot location for home buyers in Toul Kork!

Developing a relationship with each and every customer is very important for real estate agents, as in understanding and recalling the history of every single property in your database. And these things must continue for the life of that customer - and of the property. But this task can be fairly difficult if you’re trying to grow your business in a rapidly expanding property market like Cambodia using basic management mechanisms such as paper documents and simple digital sheets.As the Cambodian market develops and competition grows from international agencies entering the market seeking new opportunities, those agencies managing their business without technology will quickly fall behind.For this reason, realestate.com.kh has brought the market a world-class Customer Relationship Management (CRM) system - available now! The system can also be coupled with professional website solutions, perfectly suited to real estate agencies. The CRM has been customized to Cambodia real estate conditions and thoroughly tested with a number of local agencies.Why Use a CRM?Managing your property listings, agent team, customer database and marketing from a single, easy to use system can allow you to build a secure database for your business, and make life easier on a day to day basis.Meanwhile, understanding the performance of your team and business as a whole is invaluable.This can be done real time with the realestate.com.kh CRM, and performance can also be indexed over weeks, months and years. A quality CRM allows you to grow your business sustainably, based on performance and realistic predictions - as opposed to guesswork.With the realestate.com.kh CRM you will know exactly the value each agent brings your business; in terms of new listings created, new clients introduced, and revenue for your business. You will also be able to diligently track the history of your property portfolio, as to never miss the next opportunity.Listing & Customer Management:With a multitude of properties in your portfolio, there’s a high possibility of losing track of important details – whether of transactions, inquiries or key documents. And looking for that specific information in spreadsheets and outdated websites can be time consuming and confusing for your staff. Managing your listings like this is inefficient and also dangerous if you don’t have full trust in your team of agents.Now, think about that process and multiply it by the amount of customers you have selling and looking for a property. Added up, this takes up valuable time you could have used to create more business opportunities and make more money.The realestate.com.kh CRM system allows you to enter and save your property data in one place. It then integrates those listings with your website and other marketing channels. You can enter both private and public information, and select which information to share to what forums, including your own website, partner websites and social media platforms.Every time a new request from a customer enters the CRM system, properties suited to that customer can be immediately matched to the buyer or renter and sent to them in a matter of seconds.A scheduling and alert mechanism, fully integrated with your calendar, will also make sure you never miss an appointment related to that customer or property. The same applies to other contacts crucial to your business, such as property owners, sellers and partner agencies.The realestate.com.kh CRM also gives you the ability to customize your listings with various photos to supplement listing descriptions, auto create advertising materials and watermark your images. Other tools within the interface help you manage, follow up, and track leads, and you can also provide performance reports to landlords and sellers.The realestate.com.kh CRM Co-Broke Ecosystem:When you match properties to your customer’s needs on the realestate.com.kh CRM, you can not only select from the properties from your own database, but you can also view the co-broking opportunities offered by every other agency using the system. This means that when you can’t find the right property for your new customer inside your listings catalog, you can automatically see a list of other properties available in the market - along with all the information regarding commission sharing conditions, available times for visits and much more.This is revolutionary technology which allows agencies in Cambodia to work as partners, not competitors - all the while protecting your businesses data and listings from being taken without your Permission.Co-broking agents will only see the information you allow them to see, and vice versa. But for your business, you will never have to turn down a request from a customer due to a lack of stock.Team Management:Handling a team – even if they are a team of experts – can also be challenging in terms of communication, tracking and understanding their performance over weeks, months and years. Everyone’s doing something and saying something - and it’s your job to gather all that information, verify its accuracy, and consolidate it into a usable resource to be able to develop your dynamics as a group entity.The realestate.com.kh CRM system not only gathers information from your team real time, it also monitors the listing creation, activity and ultimately deals-closed by the people on your team, making it easier for you to evaluate several factors such as strategies, work distribution, and hires and fires.Marketing Management:The realestate.com.kh CRM system allows you to perfectly monitor marketing statistics for individual listings and your business as a whole. It can perfectly track marketing ROI, individual property engagement statistics, and engagement reports that can readily be presented to owners.With the realestate.com.kh CRM you will never need to assess the benefit of your marketing channels using guesswork - every new business connection you achieve will be matched to the marketing forum that created it.Agents will also be able to create stunning, modern websites that will utilize SEO optimization tools and integrate perfectly with the CRM system.These are just a few benefits of the realestate.com.kh CRM, and we have solutions to fit every budget. Call us today for a full trial and don’t let your agency get left behind in the market.Email: Info@realestate.com.khPhone: +855 93 286 468Find out the best real estate news on Realestate.com.kh

Everyone wants a good home, whether for residential or business purposes. The ideal situation therefore, is to find a home that caters to both needs. Luckily, Borey Bo Ao has the flexibility for both types of usage without compromising the modern living experience.Located in Sangkat Steung Meanchey, Khan Meanchey, Phnom Penh, Borey Bo Ao includes shop houses, flats, and condominiums. Just 300 meters away from Veng Sreng Boulevard behind Phsar Ekreach 3, Borey Bo Ao is developed by a Chinese company, covering over 53,000 square meters of land area.Sales Manager at Borey Bo Ao stated: “This area features many people, but not many residential projects. The location of Borey Bo Ao is very convenient for both living and commercial activities. This project is ideal for those who want to live and generate income from the place”.Close to Borey Lim Chheang Hak, schools, hospitals, banks and surrounded by a many factories and industrial sites, the location of Borey Bo Ao, has what it takes to be a high potential business area.  Shop houses in Borey Bo Ao have already been completed and are set to be handed over to the customers in October 2017. Around 50% of shop houses have already been sold and after the first handover, the company will further develop 284 units of flat houses and shop houses.Meanwhile, the 2,070 condominium units will come soon after the completion of flat houses, according to Ms. Jin.In terms of pricing, Jin said: “Shop houses have a starting price of $180,000 and can go up to $185,000 while flat houses start at around $140,000.”Customers can enjoy convenient payment options by paying either directly or through a bank. A 4% discount is offered to those opting for a one-time payoff with a hard title as an ownership right, she added.With Borey Bo Ao becoming a high potential area in the near future, Jin concluded, “For those wanting to live in a less crowded place but with many business activities, purchasing a home in Borey Bo Ao is the best choice.”For more information, please visit the Bo Ao showroom or contact the project's sales team by clicking on “contact developer”.Get more information about Borey Bo Ao and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

Not so long ago, those seeking a property in Cambodia had to spend their weekends driving around the streets looking for shaky old sign boards indicating if properties were open for sale or rent. Frustrated with this process, Cambodian national, Mr. Moek Chenda, decided there must be an easier way…By 2009, Moek had launched the first version of realestate.com.kh, Cambodia’s first ever specialised real estate portal website - a place where all sellers could list their property and gain the right exposure, and providing a one stop online marketplace for property buyers and renters. Moek focused on growing traffic to the website, and continually making it easier for people to find their dream home without the stress and effort of running around town.As time went on, property buyers could spend more of their weekend relaxing with family, or enjoying a coffee at cafes in the city - all whilst being able to find their next property investment online.Now, in 2017, with the world and much of Cambodia moving their focus online, Moek and the team at realestate.com.kh decided to once again to revolutionize the way people find property in Cambodia and set out on a mission to build one of the most user friendly search websites and mobile apps, and one that fully integrated with world leading technology solutions for property buyers sellers, including 360 degree tours and CRM systems for real estate agents in Cambodia.In July of 2017 this dream has become a reality, with the full launch of realestate.com.kh world-class website and app.The realestate.com.kh’s website:The new realestate.com.kh website platform creates a seamless search across a database of almost 50,000 property listings. With updated search criteria, users can pinpoint the exact qualities they require in their property selection, whether it be a swimming pool, main road access or a nonflooding property. The property types, locations and specific criteria on the new realestate.com.kh platform are perfectly aligned with the Cambodian real estate market and buyer’s preferences in mind.New Developments, boreys and completed office and apartment buildings can also benefit from the new platform’s “Project Listings” function. This function allows 2 grades of listing: the first is the “Project Listing Page” which provide the full overview of the project, borey or building, information on the location, amenities and type of units available. The second type of listing is called the “Individual Property Pages”. These sub listings sit within the project listing and allow the seller to list everysingle individual unit available in the building or borey, with full information of each unit, floor plans and 360 degree tours. This new feature allows users to be even more informed about a property before making an inquiry; and therefore, increases the quality of inquiries for property for real estate agents and property developers through the website.IT Support Manager at realestate.com.kh, Bona Chhut, notes that, “the users of the website are the most important thing in this business - so we knew we had to focus on creating the most powerfulsearch functionality possible.” Chhut goes on to say, “we had to look at global examples - but really localize them for the Cambodian market; and we think we have done that!”One of the most useful tools on the new platform is the map search function. This allows users to simply trace the area in which they would like to find a new home for sale and rent, and then are immediately presented with a list of properties in that search zone. Users are also able to not only search by location, but also by landmark - such as Central Market, Riverside or Aeon Mall.This is because: “International investors and renters planning to move to Cambodia will often know the general area or landmark they want to buy or rent a property near, such as Independence Monument for example. But not everyone knows that its in Chamkarmon, for example. So we havetaken that frustration away from the buyer by introducing this powerful level of search on the new platform,” Thomas O’Sullivan, ceo of realestate.com.kh, notes.The website is now available in three languages: Khmer, English and Chinese - as “some of our clients target expat renters, some target Cambodian’s looking for a property in a borey, and so many of the condo developers are targeting international investors, many of which are now Chinese speakers,” O’Sullivan notes.The realestate.com.kh App, for Android and IOS:In combination with the new website, realestate.com.kh has also pioneered the first ever real estate search app, now available in both the IOS and Andriod app store for free download. The app allows a much simpler, faster-running and user-friendly interface for property seekers to find their dream home. Inquiring to the seller has also become much easier, as the app is directly linked to the users SMS channel on mobile, meaning they can contact the agent or seller direct to their mobile phone with an auto-generated text message.Realestate.com.kh Certified Listings:An issue with the old realestate.com.kh website was linked to the quality of listings. Many users gave feedback that some agents were listing properties no longer in the market, and wasting thebuyer’s time by fielding inquiries on these outdated listings. To mitigate this issue, the new platform includes a “realestate.com.kh certified listing” criteria. Certified listings are those listings that realestate.com.kh staff have physically visited, videoed using the “realestate.com.kh walkthrough tour” application, and can confidently present to the market as available and accurately presented on the website. This allows the property seeker to have full trust when inquiring on these properties, and with the agents using this type of listing. Meanwhile, when a user searches, certified listingswill be presented above those that are not certified in the search results - meaning additional exposure and inquiries for agents and other sellers that make use of this new product.Similar to the certified listings and walkthrough videos, the new realestate.com.kh website and app also integrate virtual reality technology with 360 degree walk through tours for property listings.These 360 degree tours allow customers to experience your show-flat or property in a fully immersive experience from anywhere! You can use it at AEON mall, in your real estate agent’s officein Singapore or in the lounge room of your best customer. “Realestate.com.kh 360 Degree Virtual Tours” allows this freedom. Best of all we do all of the work for you and we can build these tours within 72 hours (or even 24 hours if it’s a rush).For the user on our website and app, these new multimedia tours allow you to truly experience the property before you waste anytime visiting the property or developers showroom. These are just a few advances that realestate.com.kh has brought to market since humble beginnings in 2009… Keep your eyes open for more real estate tech innovation coming soon.Find the best real estate news on Realestate.com.kh!

Singapore Club Cambodia will celebrate the Singapore National Day 2017 in Phnom Penh next week. This special event, to be held at Hall A & B on Koh Pich Island, will start from 11:00 am to 5:00pm on Saturday 12th August, 2017. The event will showcase all thing Singaporean - a showcase of the culture and related businesses active in Cambodia.The Singapore Club Association is going to invite everyone - including the public, real estate sector professionals, business owners and other stakeholders involved - to join the celebration. Those who attend this event will get the opportunity to know more business, product and services from Singaporean in Cambodia.  Mr. Ryan Ong, Organizing Chairman of Singapore National Day Cambodia, said that, “the Singapore Club Cambodia will gather the media, Cambodian VIPs and a few celebrities from Singapore to join the event. With decisions from the committee of Singapore Club Cambodia (SCC), we hope invited around two to three thousand visitors and incorporated sectors like Food & Beverages, Services, Hotels & Accommodation, Education, as well as real estate businesses & brands in Cambodia that are founded or managed by Singaporeans. All will set up a booth at the exhibition hall.”Mr. Ong confirmed that the event will include a strong representation from the F&B sector, so as to provide the visitors with a range of fine food and drink - which is the most important feature of any successful event for Singaporeans. There will be a few lucky draw segments and many attractive prizes to be given away including Silkair ticket for two to Singapore  The sponsors of the celebration are Yeo’s and Tiger beer. For visitors, tickets are just $2 and include includes lucky draw, a beer and a can of soft drink from Yeo`s.Find the best real estate news on Realestate.com.kh

The recent news of an innercity-to-airport rail link has been welcomed by Cambodia property developers, especially those with projects situated near the proposed track. According to recent press, upon the railway’s completion in 2018, trains will be able to take passengers from the central city to Phnom Penh international airport in just 15 minutes travel time.During a handover ceremony last week in Phnom Penh for mechanical equipment donated by China, Transport Minister Sun Chanthol said: “this project will reduce traffic jams leading to the Phnom Penh airport and prevent people from being late to their flights. Thus far, 250 meters of the rail track has already been constructed by the country’s railroad company, Royal Railway.”“Four $1 to $2 million trains purchased by the company from Mexico will run along the route. During the first month of operation, rides will be free of charge,” added Mr. Sun.Commenting on this, John Guiry, CEO of Royal Railway, told local media that construction had begun about six weeks ago and was expected to wrap up by April 2018, with about 10 to 12 meters being laid down each night.”The project’s budget was confidential, but was “part of a current maintenance budget” for the company. Tickets would likely cost between $5 and $7, but the price would be set closer to the launch, added Mr. Guiry.By aiding traffic congestion and also shortening travel time to and from the airport, this new railway project is expected to further boost property investor’ confidence in the capital, in particular for projects situated along or near Russian boulevard.  Johnny Chan, Sales & Marketing Director of Creed Group, the developer of the Bodaiju Residences project, said: "this new announcement gives current and prospective investors in the Bodaiju project even more confidence that they have made the right investment decision.”Mr. Chan added: “the proposed rail line will offer residents of Bodaiju a fast and direct link to the inner city, and will mean that congestion along Russian Boulevard will be controlled into the future. This represents great news for developers such as the Creed Group with projects situated along this access way to the city."Meanwhile, Chenyi Chiu, General Manager of TK Royal One, said: “the passenger railway transport line is a significant signage of a modern city. Although it has been expected for long time, there has never been any confirmed plan for the Phnom Penh city passenger railway transport. The announcement in this July not only proves that Phnom Penh is now transforming into a modern city but also opening the new era of the railway economy.”  “The city development is going to follow the railway network to expand and start from the station along the railway. Sitting on the center of this main railway route, TK Royal One owners and tenants will be able to take the advantages to enjoy the convenience of new lifestyle and to gain the future property value appreciation. Besides, as a foreign real estate developer, seeing this transportation infrastructure indeed makes us have more confidence in Phnom Penh’s property market. However, we also look forward to seeing the railway network to expand more in the near future to make the city development much faster,” Mr. Chenyi added.Oknha Ly Kun Thai, CEO of The Gateway project, said: “this new railway is quite essential for Cambodia because Mass Rapid Transit (MRT) will increase commercial developments and boost the country’s economy as a whole. In general, the MRT is fast, reliable and efficient to all citizens living in the city. Therefore, having MRT helps reduce the number of vehicles on the road while bypassing traffic congestion during rush hours in the city, resulting in a shorter commute.”“An efficient mode of transportation is the key to city development that helps boost general commercial activity. This is good news for Cambodia’s property market as better and improved transportation infrastructure in the area will boost property prices and rental yield,” added Mr. Ly.Located along the Russian Boulevard and only a few hundred meters from the railway station,The Gateway is one of the mixed-use development projects in Cambodia to get major benefits from this new railway in terms of travelling time towards the airport and inner-city.Mr. Ly explained that the Gateway’s residents will enjoy great advantage of traveling to and from Phnom Penh’s International Airport in a very short time. Meanwhile, rail travel is a lot safer compared to road travel due to proper security monitoring throughout the system.Learn more about Investing in Cambodia on Realestate.com.kh

Cambodia’s former cinema buildings were indicative of the country’s famous architecture before the civil war. However, at the present time, most of the young generation is not aware of these buildings. This is the main reason “Amazing Cambodia” started to collect all existing old cinema photos - to allow Khmer people, both old and young, to be aware of the great architecture that existed in the past. Amazing Cambodia is a Facebook page whose purpose is to collect Cambodian historical images, music, films and other things of cultural importance and share them to everyone domestically and internationally.In an interview with realestate.com.kh, Mr. Srin Sokmean, founder of Amazing Cambodia, describes the way and why he compiles all those old cinema building photos.Why do you compile all these old cinema building photos?The reasons why I have been collecting those vintage images of Cambodia’s former cinema buildings is because they are one of my most favourite research topics. I am passionate aboutCambodia’s pre-1975 era of glorious arts and culture, and those numerous cinemas - especially the over 30 cinemas based in Phnom Penh that truly reflect that remarkable period. On the other hand, I heard the names of some of those cinemas in my childhood during the early 2000s, such as Angkor cinema and Kirirom cinema - so this made me curious to find out where they were now and what these buildings looked like.When did you start compiling all these old cinema building photos?First, I bumped into some magazine articles with several photos of old cinemas in Phnom Penh while I was reading one local magazine, “The Popular,” around 2004-2005. I was a big fan of that magazine, and I learned a lot from the articles about the transformation of those buildings at that time. Then I started to collect the magazine for further personal research. In 2010, I began using the internet, and since then it has become my greatest tool for research on the topic.Which is your favourite old cinema building photos? Why?My most preferred images are the ones from 1960s and early 1970s that depict the great architectural structures of the buildings and big crowds of audiences waiting to buy the tickets because those images illustrate the connection between the buildings and the successful film screenings in Cambodia back then. One of them is a vintage image of the front of Proum Bayon Cinema with a French movie poster extracted from “Cambodge d’Aujourd’hui” newspaper published in December, 1958.Could you briefly describe all these old cinemas?Based on my research data, there used to be approximately 36 cinemas in Phnom Penh and some others in the provincial towns throughout the country. These cinemas are divided into 4 timeline groups: (1) Pre-1950 such as Ciné Star, Lux, Eden, Casino, Majestic, Kim Phong, Kim Son, Trung Quoc and others mainly based in Phsar Kandal and Phsar Chas colonial zone. (2) 1950s such as Phnom Penh, Phnom Pich, Vimean Soursdey and Proum Bayon (3) 1960s such as Hemakcheat, Kirirom, Mkot Pich, Sar Proum Meas and 1970s such as Vimean Tip, Santepheap and Monoroth (unfinished). How do you feel about the demolition of the old cinemas - to be replaced with new ones?Honestly speaking, I really feel sorry for such big losses. Though we cannot prevent the city from rapid modernization, we could have renovated those heritage buildings and converted them into new facilities, such as museums, art galleries or performing arts theatres, in appropriate ways. For instance, we could have just repainted and repaired the most dilapidated areas.Meanwhile, the special architectural features should have been preserved - regardless of the new function that the building was to serve.What is the benefit of compiling all these old cinema building photos?Personally, I think that these kinds of historical photo archives are beneficial to Khmer nation. First of all, as most of the cinemas have gone, this collection functions as a mirror reflecting the number of cinemas we used to have in the past and how powerful our local film industry was before Khmer Rouge. Second, it also indicates the timeline of the building functions over decades. Third, it can be seen as a useful source for both local and international architectural students and cultural researchers.Do you have any special plan for all these old cinema building photos? Do you have anything to tell younger generations?I am starting to cooperate with Roung Kon Project, a group of architecture students from RUFA, to work on a research project on 5 former cinema buildings in Phnom Penh for a book publication, but we are just at the beginning.I have also established a photo exhibition in which some of the photo collection have been displayed. At the end, I want all Cambodian young generations to learn the historical values of those priceless buildings. Once they have gone, nothing can get them back, so the one thing we can do is to recall the past stories through our photographic evidence as well as our knowledge.Find out the best real estate news on Realestate.com.kh

Buying a new home does not mean that you spend only on the base price of the property - you also have to spend on additional costs associated with the property. Therefore, it is vital that you be aware of extra costs associated with property purchase in order not to have any unpleasant surprises.Last week, Realestate.com.kh explained in “Part 1” some basic additional costs including: Home Loan application fee and Legal fees, Ownership Transfer tax fee, Home insurance fee and Real estate agent’s fee. This week Realestate.com.kh will explain the remaining additional costs associated with your property. Below are other extra costs you need to know upon purchasing a new home.Interest of the home loan:When purchasing a home, most buyers in Cambodia usually do not have enough money to pay outright. Therefore, they choose home loan options either with company project or banks. Whether you choose to pay with the company project or banks, you still have to pay for home loan interest.When you opt for bank loan, you are required to submit collateral, hard title, and an income confirmation letter in order to qualify for a home loan. Bank loan terms can range up to 15 or 20 years, depending on the decision you and the bank agreed to; interest rate can range from 8%  to 10% per annum. Generally, banks will not offer you 100% of total home value but only 70%.Application For Registration and Title Verification Fee:Done at the District Land Office of the Ministry of Land Management, Urban Planning & Construction, you must pay a cadastral transfer fee of KHR 600,000 in order to insert the name of the new owner on the legal documents. Checking for potential liens or encumbrances under a title will cost you around $12.50, according to Prakas 995 which is dated December 28th, 2012.Property tax:All the immovable properties need to pay annual tax; however, it will only apply for the property with a value of $25,000 and above. According to the Prakas of the Ministry of Economy and Finance, the tax is being collected annually at a rate of 0.1% of the value of the property.The property tax is computed by taking 80 percent of the property’s total value, subtracting $25,000, and then multiplying that by 0.1 percent. And the property’s value is obtained through a government valuation, depending on several factors such as data collection on relative properties in the market, quality and location.On going costs: This includes maintenance fees, repair costs, and bills such as internet, electricity, and water. Maintenance fees are paid by home owners for the upkeep of the building. This fee varies between borey home and condo.For borey home, the maintenance fee includes cleaner, security guard, and public light in the project area. It will be charged between $20 and $50 per month. For condo, the fee ranges from $0.50 to $2 per square meter. In addition, living in condo requires you to pay for parking space which ranges from $50 to $60 per month. Also, you should prepare some money for furniture and any future renovations.These are the remaining additional costs associated with property purchase. Check out our additional costs part 1 @Realestate.com.kh/news. Realestate.com.kh will explain more details of this topic and you can find it in our full guide online @ Realestate.com.kh/news.

Launched in 2015, Axis Residences is the first Cambodian eco-friendly condo development project to receive 'Highly Commended Award' or global Green Mark Gold Award for the Best Condo Development at the inaugural Cambodia Property Award 2016.Strategically located along Street Doung Ngeap number III and just 5 minutes from Phnom Penh International Airport, the $70 million development project is made up of eight condo buildings of 10 floors each – making up a total of 566 units. Scheduled to finish in 2018, Axis Residences has almost completed its structural works.Axis Residences is in talks with award winning Service Apartment 85SOHO from Singapore-listed property management group, LHN Group in providing all units in Axis Residence with service apartment style, high level hotel-like concierge experience for all residents.About 6 km from central Phnom Penh, Axis Residences is close to major international schools such as Northbridge International School and CIA First International School, Royal Phnom Penh hospital, Rathana Plaza supermarket and shopping complexes such as the Lion City & Okide The Grand.  Axis Residences boasts its sustainable building environment and is founded as the best condo development with significant eco-breakthroughs. Building environment refers to quality of buildings and structures as well as the surrounding infrastructures that would offer a full set for community's living.Mr. Anthony Ong, director at Spring CJW Development in Cambodia, said: “Axis Residences have cleared the preliminary assessment and will be the first residential development in Cambodia attaining Green Mark Gold Plus Accreditation by internationally-acclaimed Singaporean Building and Construction Authority (BCA), an agency under Singapore's Ministry of National Development focusing on Singapore’s building excellent environment.”“The intention of BCA is to promote sustainability in building environment and raising environmental awareness among developers, designers and builders when they start project conceptualization and design, as well as during construction process,” he added.Designed and developed by Singaporean developer Spring CJW Development Pte Ltd and Singaporean Consultants, Axis Residences will become the pioneer and the only condominium in Cambodia incorporating the innovative green features that benefits the residents with both a stable electrical supply and a reduced utility and maintenance bill. And this comes through the high technology of sustainable solar PV energy (Solar Panels) into the development.A sophisticated building complex encompassing excellent quality, modernity and convenience, Axis Residences is becoming popular in Phnom Penh largely thanks to its eco-friendly environment.Mr. Ong stresses that as environmental concerns are on the national and global agendas, eco-buildings such as Axis Residences is immediately becoming the preferred choice by its quality and lifestyle of Phnom Penh’s living residential.He said: “we are confident that Axis Residences will complement tenants' green credentials and benefit companies in areas of long-term energy cost savings as well as health overall. Within Axis Residences, we believe that going green is no longer an option, but a responsibility. We are committed to do our part by developing properties that have minimal impact on the environment while enhancing the quality of life for the communities.”Mr. Ong concluded by saying that Axis Residences will be a best choice for national and international business people who seek a green residential address in the upcoming Phnom Penh’s western district.Axis Residence is currently in process of being certified Green Mark Gold accreditation by BCA: making it the first and only condominium to achieve this internationally acclaimed accreditation in Cambodia.Get more information about Axis Residences and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

With Phnom Penh’s sewage system left unsettled, heavy rainfall floods the city during monsoon season and this usually has a negative impact on general business activity. In addition, the rainy season seems to reduce real estate transactions across the market, largely because most buyers are not intending to buy during this flooding period.  Mr. Sorn Seap, CEO of Key Real Estate, said: “wet season does have a negative impact on Cambodia’s real estate market by slowing down the market transactions. During this season, not many buyers are willing to buy property due to a spate of economic downturn.”Mr. Sorn added, “even if a number of sellers try to push for more real estate transactions in rainy season, weather conditions are not preferable for general real estate transactions. To some extent, rainy season reduces profits of some businesses such as retail shops, which face less customers. In fact, real estate buyers just pause some time awaiting for the dry season to come.”Commenting on this issue, Mr. In Sitha, an independent property consultant at cambodia21.com, said: “rainy season reduces some buyers conversions compared to the dry season due to unfavourable road conditions; namely, it is hard to travel through flooding in the city during heavy rain. Hardest hit is plot land market, as one can not go to see the plot land during rainy season and thus reducing the transactions.”Meanwhile, Mr. Yim Socheath, director at Cam D Network Property (CDN Property) Co., Ltd, said: "it is much harder to find clients in rainy season. Economic activity is not so good during this period with customers not spending much money to buy products. It is time for farmers to plant their crops and thus they do not have money to spend yet. As a result, general business activity ranging from retail to real estate will not grab much customer’s spending.”However, wet season might be a good time for buyers to buy property as during this period they can check all aspects of the property such as flooding condition, entrance quality and water infiltration. After checking all of those aspects, buyers can see how good the property is during that period.Moreover, property selling prices in rainy season may also be more attractive than in the hot season. Buyers are likely to get more bargaining power in rainy season as the buyer pool dries up.Mr. In added: “due to the limited property transactions during rainy season, property sellers in Cambodia will ultimately turn to promotional strategy in order to get a quick sale. With this aim, advertising campaigns to reach most property buyers is required to boost more sales during this stagnant period.”Cambodia is not the only nation to be affected by rainy season in terms of real estate transaction downturns. Neighbouring Myanmar is also faced with the same problem, where property transactions drop by up to 30 percent during wet season.Mr. Kaung Thu Win, Founder & Director of Myanmar's leading real estate portal, shweproperty.com, said: “Typically, we see about a 30% decrease in real estate transactions during rainy season, in regards to both developers and homeowners. Most homeowners won't try to sell their home during rainy season for fear of getting lower profits. For property developers, they often offer a rainy season promotion to increase sales. Point in case, our 2nd Affordable Housing EXPO next weekend has every developer running special offers for monsoon season.”Mr. Kaung added: “Most landowners might list their property on the website but won't come down on price, unless there is a reason or motivation behind the sale. In Myanmar, the buyer has more negotiating power with sellers. For real estate developers, the price is very different with much more promotions and discounts. Starting in September, at the end of the monsoon season, most developers see a huge influx in buyer inquiries and are less likely to negotiate.”While rainy season in Myanmar does not see impressive real estate transactions, dry season is a good time for real estate sector, especially for sellers.“In dry season, it's really a sellers market, which is why real estate is doing well here right now. In Myanmar the most popular projects sell out extremely fast, so buyers are more intent on getting a better located unit (river view or view of park, or pagoda) than negotiating price,” according to Mr. Kaung.Ostensibly, the rainy season is not the main factor affecting the entire real estate transactions in Cambodia and Myanmar. The transactions lie in prospective buyers who see the future benefits of the property and are willing to for it.Mr. In stressed that it is demand and supply factor which is the core determinant of real estate transactions, not season. For example, If a buyer badly needs a property somewhere, he or she will ultimately goes to hunt for that property regardless of rainy or dry season. The season is just part of the decline in property transactions but not a big issue for prospective buyers.If you wish to rent or buy a nice property for either living or running business,  check out more listing on Realestate.com.kh!

Launched in early 2016 and developed by a renowned construction company J&L Development, Sky Tree Condominium is considered a safe and peaceful residence, providing a topnotch residential building at the center of Phnom Penh.With the building’s construction completed for five floors, the 32-floor Sky Tree project  is expected to finish in late 2018 and hand over to clients in early 2019. Obtaining financial support from banks, Sky Tree has recently announced the first joint-venture loan which was offered by several financial institutions and banks from overseas.Mr. Wu Chen, CEO at J&L Development Company, said: “We got $35 million from six international banks to support our construction project. With this loan, we guarantee the project will definitely be 100% completed as promised. On the other hand, this loan will also be used to support our customer through our home loan project.”He added “J&L is the first developer in Cambodia which was chosen by six international overseas banks. These include Taiwan Cooperative Bank, Land Bank, Bank of Taiwan, Sunny Bank, Bank of Pan Xin, and Taiwan Biz Bank.” “J&L has strictly studied the pre-qualification process through its connection between its parent company in Taiwan and the J&L Company in Cambodia. The criteria is mainly focused on the financial management of the parent company, the location of Sky Tree condominium, the financial management of J&L, and the standard quality of the project. They also inspected whether the project can get support from the government of Cambodia,” according to Mr. Wu.He explains that “J&L gained the trust from the banks thanks to our project having strong management in all aspects. And this will be a good example for other developers and investors in Cambodia to follow.”Built with Singaporean standards, Sky Tree project will be a high-rise complex with a total of 1,104 residential units. These units will range from one to three bedrooms. The unit size will start anywhere from 61.75 square meters to 140.93 square meters. In terms of special features, Wu mentioned that “Sky Tree has, by far, the highest standard for interior design out of any projects currently underway in Phnom Penh. The project is maintained with impeccable attention to detail and high quality materials, finishes, and fixtures. It features marble flooring, proper ventilation, door handles imported from Germany, and plugs by J&L. Every door is also equipped with carbon fiber steel and it is totally thief, fire, and sound proof. The unit’s entrance door does not face an opposite unit’s door. And each unit also includes an emergency lift.”“On the other hand, Sky Tree will also offer a nice open view of the building by utilizing a big balcony. And each window uses double glass that can protect you from the heat and the UV rays. Keep cool inside. It’s soundproof and very eco-friendly,” he added.Wu also says that “the foundation work is also an effective technical construction process and is a first in Cambodia. Piling work is 40 meters under the rock and it’s built with a unique technique to strengthen and protect it from natural disasters such as storms or an earthquake. In order to ensure the quality of the building, we also did testing on clorise concrete and iron reaction which no other projects have done in Cambodia.In addition to these, the northern Phnom Penh suburb area is also becoming an up and coming area in terms of commercial, business and housing developments. The Sky Tree development is situated at the Russey Keo district, a very prominent neighbourhood of the Toul Kork district. Wu is proud to say that the project is “strategically located in a very desirable area, surrounded by various amenities. It’s close to the Oknha Khleang Moeung Boulevard -- next to the Phnom Penh City Center, embassies, five star hotels, supermarkets, a golf course, the central station, the Prime Minister’s office, ministries, and other establishments.” “For prospective buyers and investors interested in the Sky Tree, they will be satisfied to know that there are around eighteen facilities provided inside the complex such as branded shop outlets, a reception hall, a spa room, a gymnasium centre, a swimming pool, a playground, sky gardens, a green garden, an audio-visual room, a sky bar on the top floor, a reading room, a medical center, laundry, security centres, a property management office, visitor parking spaces, a car basement, and a helipad,” according to Mr. Wu. He concluded by saying, “An international standard condo exists in Cambodia. And it’s best suited for local and foreign investors. The unit prices are very affordable. They start at only $89,440 per unit. Live in Sky Tree today, live in one of Phnom Penh’s prospective areas for growth! Get more information about Sky Tree and learn more about Cambodia’s newest developments by visiting Realestate.com.kh!

Located in Russey Keo district of Phnom Penh City, Sky Tree Condominium is a freehold mixed-use development project developed to respond to the needs and lifestyles of modern people. A luxury residence project, Sky Tree offers luxury condominiums, serviced apartments with full hotel management services, and comprehensive amenities for a premier and convenient lifestyle. In order to know more details of the project, Realestate.com.kh interviewed A.Ganesan, assistant to CEO at Sky Tree showroom.Mr. Ganesan said: “Sky Tree Condominium, developed by J&L Development, is more than just a residence and is suitable for both living and investment. With over 20 years of local experience. The developer wants people to enjoy a great and diverse environment with comfortable life”He added: “the project is in the development zone with the price of land increasing about 10% annually. The developer asserts that when you buy a residential home in this project, the value of a home can increase up to 20%.”Sky Tree targets local buyers and buyers from Asia and Europe. 40% of the total complex will be dedicated to exclusive public facilities such as rooftop gardens, a helipad, a medical clinic, a sky bar, gym, spa, international retail outlets, car parking, business facilities, and much more.Built with Singaporean standards, Sky Tree project will be a high-rise complex with a total of 1,104 residential units. These units will range from one to three bedrooms. The unit size will start anywhere from 61.75 square meters to 140.93 square meters. They also sell Studio units for a starting price of only $ 55,611.For more information, visit the Sky tree Project Office directly or visit Realestate.com.kh

Located in the edge of northern suburb of Phnom Penh, Sen Sok bordering potential Toul Kork is expected to be a very attractive area for both middle and high-income families. The area is most suitable to those who want to avoid heavy traffic in Central Phnom Penh and need a more peaceful place to live.Phnom Penh’s rapid land price growth is a main factor leading most people to relocate from the heart of the city to suburban areas such as Sen Sok to form new towns and communities. At present, Sen Sok is being boosted by the construction of the coming second Aeon mall project. This will push for more demand for the area, especially housing units.According to the 2016 report on the Phnom Penh property market from local firm Vtrust Appraisal, Sen Sok has enjoyed rapid growth in terms of residential and commercial developments. The area has witnessed a remarkable change in pace of developments, especially in mixed-use housing and infrastructure. This growth will continue its pace as developers foresee market optimism over the next coming years.Sen Sok is a great choice for everyone to live a modern life in the city. Wanting to buy or rent properties in the area, you can ask for more information from Key Real Estate, a local and trustworthy real estate agency. The company specializes in all types of properties in the area, especially residential houses and has many years of experience in Cambodia’s real estate market.  Sorn Seap, founder and director of Key Real Estate, said: “we have many types of houses for sale and rent in Sen Sok and there are now two available residential houses: Villas and shophouses. If you want to purchase all types of properties in this area, contact us for more details.”He added: “Key Real Estate offers clients good and reliable quality service and aims to contribute to the growing Cambodia’s real estate sector. Key Real Estate is your win-win partners!”Price of villa houses and shophouses in Sen Sok is similar based on locations but is more expensive than normal flat houses.Regarding price of residential houses in the area, Ms. Chheng Chhay Hong, Sale and Marketing Manager of Key Real Estate, said: “For villa, price can start from $200,000 to $500,000 while the price of shophouses located in the front main road available for both living and running business ranges from $200,000 to $400,000. As for cheaper flat house, price starts from $50,000 to $150,000.”As for price of rent, she added: “rental price for villa starts from $1,500 to $3,000 per month; some villas in Borey starts from $800 to $1,200 per month and shophouses from $1,000 to $2,000 per month. Price of a normal flat starts from $300 to $600 per month.”If you wish to rent or buy a nice property for either living or running business,  check out more listing with Key Real estate for more details.

Buying a new home to live in is a necessary thing for everyone in Cambodia, especially in Phnom Penh as most of them are renting but considering buying one for their family. However, buying a new home does not mean that you spend only on the base price of the property - you also have to spend on additional costs associated with the property. Therefore, it is vital that you be aware of extra costs associated with property purchase in order not to have any unpleasant surprises.Below are a few basic tips, thanks to realestate.com.kh, to help you first-time home buyer manage your budget for a new property:Home Loan application fee and Legal fees:When you apply for home loan, lenders will charge you fees to cover the charges incurred for valuation and processing of the loan. Then you have to pay 1 percent of total loan to lenders. Also, you have to pay $250 dollars to lawyer for legal services: legal advice, property checks, and legal processing.Ownership Transfer tax fee:This is the tax fee to be paid to the city or province where your property is located for the transfer of ownership from seller to buyer. The home buyer needs to pay 4% of the property transfer ownership fee and also needs to pay $1,000 for the service of cadastral office. Usually, it takes around 12 weeks to complete the transfer of hard titles done at the cadastral office. A hard title, an ownership certificate issued by the Cadastral office, is the most secure form of ownership and recognized at the national ministerial level as well as at the sangkat and district level.Home insurance feeCambodia’s ministry of finance and economy requires home buyers to buy home insurance if they borrow money from a bank. The home insurance fee depends on the size and value of the home. if the home price is above $100,000, homeowner must pay $100 or higher per year. If the price is $100,000, homeowner must pay less than $100 per year.Real estate agent’s feeIt is the fee seller has to pay to real estate agency for home transaction. But sometimes it is buyer who has to pay the fee to real estate agency. In Cambodia, real estate agency charges commission fee of 3% from seller not buyer for the home transaction.  But in some cases, buyers also have to pay the commission fee of 3% when they want to buy property from someone. This occurs when seller is unwilling to sell the property, but buyer is willing to buy and asks for agency to persuade seller to sell their property.”However, these are only a few basic additional costs associated with property purchase - and there are more to keep in mind. Realestate.com.kh will explain other additional costs in part 2 next week in Wednesday’s property section! Or find the full guide online @ Realestate.com.kh/news

Located in Sangkat Koh Rong of the Mittakpheap district in Sihanoukville Province - and about 25 kilometers away from the mainland of the province - Koh Rong Island is the second largest island of Cambodia after Koh Kong, with a total land area of approximately 78 square kilometers. With four village communities comprising over 3,000 villagers, the island is one of the most attractive islands for both local and international tourists. And this looks set to continue due to the announcement of upcoming mega tourism projects to be developed by The Royal Group, a major Cambodian consortium. To boost development in Koh Rong, in 2008 the Royal Government of Cambodia granted a 99-year lease of land concession to The Royal Group to develop five-star hotel and luxury resorts on the island. Both the government and the Group aim to transform the island into Asia’s most attractive tourist destination.  Mr. Seng Hour Lean, Chief of Sangkat Koh Rong, said: “Koh Rong will become one of Southeast Asia’s most attractive islands owing to its natural beauty and upcoming development projects by The Royal Group and another 100 smaller firms. The Royal Group of Oknha Kith Meng has been developing there already, with basic and major infrastructures being expected soon.” Meanwhile, Mr. Den Sakal, CEO of Universal Real Estate, based in Sihanoukville Province, said: “Koh Rong is one of the most beautiful beach islands in Cambodia, attracting a lot of national and international tourists every year. Every time tourists visit Sihanoukville, they never forget to visit Koh Rong. The island has excellent amenities and services similar to those in Sihanoukville. These services include: beaches, hotels, guesthouses, bungalows, restaurants, night clubs, and pubs.” However, over the past few years there has been controversy regarding Koh Rong land titles for villagers residing on the island. Some who have lived on the island before 2008 had a legal land titles for their land, while those coming to live after 2008 have had no legal land title. Yet the strength of these titles amid disputes remained uncertain.Commenting on this issue, Mr. In Nan, partner of KohRongProperty.com, said: “people say they have land ownership rights on the island but do not have hard title for their land ownership. They can sell and buy the land as normal - but price is not high without the hard title. I am concerned about the slow process of the island’s development as the government is taking so long to address the conflict between villagers and companies and to ensure the legal land title for residents.”Yet, Mr. Seng confirmed that the government has already solved the land title issue for the residents of Kong Rong. And the issuing was publicly announced to villagers today, the 14th of July 2017. Therefore, local residents will now feel comfortable and can sell or buy the land if they want to without any concern.”Regarding upcoming development projects in Koh Rong, he added: “The Royal Group alone plans to develop over a total area of 2,500 hectares; another smaller 100 companies will also be developing on the island. Airport, Casino, transportation services, water treatment plants and electricity will soon be developed there. Moreover, the government also plans to make Koh Rong into a tourist city, which is good news for local villagers in particular and the province in general.”Development plans in Koh Rong will be a huge benefit to local people as land price is expected to skyrocket and residents will have a better chance of earning more money when more and more tourists flock to the island.Mr. In said: “Koh Rong is an island of great future potential, especially for tourism sector since it is one of the most beautiful islands in Cambodia, offering best place for relaxing and refreshing with green area in the sea. Local people can run every type of small businesses to respond to local market’s demand. They will feel delighted with more job opportunities which ultimately raise their standard of living.”Regarding land prices, Mr. Den and Mr. In shared the same comment that: “land price varies based on its particular area: coastal land, residential land, or farmland. Land price can range from $35 to $75 dollars per square meter After the government confirms legal land titles to residents of Koh Rong and ends conflict and uncertainty between land of residents and land of companies, it is highly likely that land prices will skyrocket and Koh Rong will change its new face among other islands of Cambodia.”Mr. Brad King, Managing Director at Cambodia Real Estate, based in Sihanoukville with an office on Koh Rong Island, said: “Koh Rong will be Sihanoukville’s next boom destination for real estate investors, in particular those focussed on high-end hospitality.”Mr. King continues, “Investors should turn their attention to Koh Rong island land investment, as at the moment the land price on the island is much cheaper than the Sihanoukville mainland, where speculation from investors, in particular the Chinese, is pushing prices higher than similar plots of land along Thailand and the Philippine Coastline. This is stunting ongoing investment on the mainland, and price speculation is becoming ridiculous. Average land prices on Koh Rong however now are around $50 per square meter - compared to over $1,000 along the Sihanoukville coastline. Furthermore, the beaches of Koh Rong are some of the finest in the region.”Mr. Prum Seng, CEO of Nan Seng Co, Ltd., a real estate firm based in Sihanouk, said that, “Issuing the hard titles for villagers will offer a positive benefit for both residents and investors. Villagers will meet a great opportunity of land price growth for their plots of land - and their business opportunities will grow quickly now. And people can sell their land without any concern anymore. Meanwhile, investors will receive a 100%  guarantee that they can now safely purchase the land on the island with fully respected hard title ownership.”  He added that, “We can expect the future of Koh Rong to be very bright. While the land is small, demand for that land will be huge once the land titles are fully approved. This is an exciting time to live and do business here.”Check out Land for sale and rent on Koh Rong Island now

Cambodia is set to receive the most benefits among the Southeast Asian nations in terms of Chinese outbound real estate investment this year. Juwai.com report projects that in 2017, real estate investors from China will invest US$80 billion worldwide, ranking this year among the top three years on record along with 2015 and 2016. Southeast Asia gets a special highlight section in the report because it will be one of the most successful regions this year at winning an increased share of China's of real estate investment flow.Southeast Asia appeals to growing numbers of retail-level Chinese buyers. In each of Thailand, Malaysia, the Philippines, Vietnam, Indonesia, and Cambodia, Chinese real estate buying inquiries via Juwai.com in the first quarter of 2017 were up at least 26% compared to the same period in 2016. Cambodia was up over 300% more than any other country in SEA while the Philippines and Vietnam were up 130% and 60% respectively.Why does Cambodia become the most favourable country among Southeast Asian nations appealing to retail-level chinese buyers in Q1 2017?Alex Loo, Business Development Director of SC Capital Co., Ltd., said: “the reason is largely thanks to Cambodia’s friendly relation with China and the investment cooperation between the two nations is also strong. In 2016, Sino-Cambodian trade volume increased by 7.4% over the previous year.”Mr. Sunny Soo, Managing Director at Keystone Property Consultants Co., Ltd., agrees that Cambodia offers a stronger political economy and friendliness to Chinese investors, compared to neighbours Vietnam and Thailand. Meanwhile, says Mr. Soo, “the US dollar is a incentive for Chinese property investors, offering a reliable hedge against the uncertainty of the RMB.”This year Xu Ningning, Executive Director of China-ASEAN Business Council, visited Cambodia. He met with Minister of Land Management, Urban Planning and Construction to promote the development of China-Cambodian construction industry and its business cooperation, which will be to a certain extent, China's real estate developers to further investment into Cambodia.Mr. Loo added: “For overseas investment, economic growth is the main attraction of the country. Cambodia's economic development is very rapid; the basic annual GDP growth rate remained at 7% per annum.”“Over the past 10 years, Cambodia has opened up its economy and experienced new opportunities and challenges. To strengthen international competitiveness, the Cambodian government has promoted export liberalization and implemented tax reform to attract investors. Cambodia's economic growth rate for the world's top few is expected in the next few years,” says Mr Loo.Meanwhile, Laurence Hamilton, Vice President of NC Max World Co.,Ltd, said: “demand from Chinese Retail Buyers has been driven by stricter regulations in the Chinese monetary markets, causing many Chinese Investors to seek overseas property investments where possible. Cambodia has been particularly favorable due to its use of the US Dollar, a relatively stable currency. Of course Cambodia is also realizing one of the highest GDP growth rates in the region, which, in turn, is generating real property appreciation.”Even though Southeast Asia is not China’s largest outbound real estate investment, the region is the fastest developing market in the world, generating much higher returns than in developed markets.Mr. Hamilton added: “Although the tertiary markets of Europe and USA remain strong vehicles for Chinese investors, a large portion of that foreign direct investment has shifted to South East Asia’s developing economies over the recent years. This is because the developing markets have generated much higher returns on investment than in developed markets, with much less risk than previously stigmatized.”He explains that China is in the process of overtaking the United States as the world’s largest economy. This inevitably has a huge impact on the immediate region, especially given China’s extrovert, trade-driven foreign policy. Chinese real estate investment in Cambodia will be a win-win scenario, with the Chinese acquiring real estate at an attractive price point, generating US dollar residual income, and the Cambodian Economy being boosted by the increased demand for business goods and services, which generates jobs and tax revenue for the country.Commenting on this, Mr. Loo also said: “China's investment is giving smaller neighbors in Southeast Asia an unprecedented change to help Cambodia, Laos and Myanmar become larger Chinese export destinations. China will provide $10 billion in infrastructure loans to Southeast Asia. China's direct investment in Southeast Asia is mainly concentrated in Indonesia, Malaysia, Cambodia and Thailand, with a focus on infrastructure, energy, finance, real estate and transportation.”Chinese outbound real estate investment this year and next will continue to be a main contributor to Cambodia’s overall economy, especially the real estate sector.Search for real estate and property all over Cambodia on Realestate.com.kh NOW!

Are you looking to invest in a property in Cambodia? Consider buying a Borey! These exclusive gated communities are gaining popularity in the country, offering modern amenities. But before you jump in, it's essential to understand the process of purchasing a Borey property. In this guide, we'll take you through the steps involved in buying a Borey in Cambodia and provide useful tips to help you make a wise investment.  What to Expect from a Borey Borey is characterised by a group of low-rise residential properties located in a gated community. These include villas, flats, townhouses, shophouses, and even the occasional condominiums. Borey developments have a variety of properties that cater to both individuals and families. It typically has its own infrastructure and services which include roads, water, electricity, and waste management. But the biggest selling point of a Borey is its huge space and security. It also generally has a quieter scene because of its exclusivity.Buying a home within a Borey development is a good option because it means that your new home will be surrounded by all the right infrastructure, such as water, electricity and appropriate road systems. It should also mean that the community is secure and contains common areas for your family to enjoy. The downside is added costs compared to stand-alone properties, a possible waiting period before you can move into your new home, and also the potential dangers of buying into a Borey project that doesn’t fulfil all its promises.Where are most of the Borey for sale located?Major Borey developments are located on the outskirts of Phnom Penh city - and very few are located in the inner-city districts. This is because they require more land to set up and this is hard to find in the already-heavily-congested districts of the city. They are also increasingly appearing in other major provinces, such as Siem Reap, Sihanoukville and Battambang.(A Borey complex in Sen Sok district, one of the districts in Phnom Penh popular for this type of gated-community development / Realestate.com.kh)  Meanwhile, new Borey projects are being launched near main highways outside of the cities, particularly in areas with significant industrial activity and factory-worker populations.A Borey developer can take land that is totally undeveloped (farmland, rice paddy and lakes) and lay the base infrastructure for a new mini-city. For this reason, the boom in Borey developments is essentially creating new areas of the city suitable for residential properties. For the developer, by developing the necessary infrastructure, they can transform the land and increase the price per square meter dramatically after the project is completed.  Can Foreigners Buy Borey?Foreigners are not allowed to buy homes in Boreys because these are predominantly landed properties. Article 8 of the Land Law states that “a foreigner who falsifies national identity to become an owner of land in Cambodia shall be punished as determined under article 251 of this law. Any property bought under these circumstances will be seized as state property without compensation from the state.” Yet, some storeys do have condominium units available with strata titles fully applicable to foreign buyers. Also, foreign buyers could consider buying a Borey home that is landed via a Cambodia nominee.  I’m Cambodian, Can I buy a house for sale inside a Borey?If you are a Cambodian citizen looking to buy a landed property, Borey Developments can be a great option for you. The good news is that there are no legal hurdles or financial constraints to worry about as long as you fulfil your legal and financial obligations. With the growing popularity of Borey communities in Cambodia, more and more developers are making it easier for locals to purchase properties.  What documents should I look for when choosing a new house in a Borey development?Many developments will pass themselves off as Boreys. But fake projects don’t have the necessary approval and documentation. They simply call themselves “Borey” in their marketing drive. Buyers need to check for five vital documents to ensure the quality and credibility of the Borey development.(A sleek interior design of a house in one of the Borey developments in Phnom Penh / Realestate.com.kh) These 5 crucial documents are the hard title, company registration, approved master plan, construction license and Borey License.Hard Title: You have to look at two classifications of hard titles when dealing with Boreys.The first is the hard title for the whole Borey development. This is called a master title - and will cover the entire piece of land on which the project sits. The second one should be hard titles that are subdivided for each residential unit included in the Borey. These are called individual titles. A legitimate Borey development should be able to produce both of these hard titles for potential buyers. If they can’t show this, don’t put any money down until they do.Development Company Registration: Development companies will need to register themselves to gain approval from the necessary ministries to proceed with construction. However, construction is not always a sign that they’ve been approved. You can ask to see their company registration just to make sure both the project and the developers can proceed legally.Master Plan Approval: The Ministry of Land Management will need to approve the developer’s Master Plan first by the Ministry of Land Management before construction begins. A credible developer will be able to provide you with it or at least show you a copy.Construction License: The construction company then goes through a thorough background check with the Ministry of Land Management. Boreys must have a single registered construction company building the units and infrastructure to ensure consistency and quality throughout the development. Once this has been cleared, the construction company is then given a license.Borey License: The Ministry of Economics and Finance releases the license for Borey once everything is in order. This means that the developer has satisfied the requirements of the government in terms of quality, design, sales plans, and documentation.Should I buy with a hard title or a soft title?In reality, you can buy with a soft or hard title. Most importantly, you have to look to make sure that the developer has a main hard title.Ms Lay Solida, Lawyer at CBL Law Group, said that “Borey projects should be legal and recognised by related ministries. The most important thing is that the Borey project has the main hard title.”Boreys must have hard titles for the whole development area. Hard titles give an assurance that the developer fully and rightly owns the development of land. You can go the extra mile by checking if there are any pending legal issues with respect to the hard title. These specific sets of documentation serve as your protection for you and your investment.Mr Dara has just bought a house in a Borey in Phnom Penh. He said he’s already familiar with the above-mentioned documents. He explained, “I have just bought a house in Phnom Penh. I chose to pay an instalment with the project owner. And for now, there is no hard title issued or even a soft title. It’s just a buy-sell agreement letter. There is a guarantee to be issued after payment is completed. And if I want a hard title, I need to process the documents myself.”Kheang Puthy, CEO Sleuk Rith Realty, told a local news agency, “We need to check all the legal documents, like ownership title, construction license, and agreements from the related ministries. You’ll be safe when you buy a Borey that has all the documents.”But what if the Borey for sale has a hard title for the entire development but still only gives you a soft title?Mr. Cheng Soknov, Loan Staff at the ACLEDA Bank, is optimistic. He said that it “is not a problem if you just have a soft title when you buy in a Borey project, the most important thing is that the Borey project is legal. We can make a hard title later.”If the development title is hard, then hard titles can be made for individual properties bought by customers. It is still the most secure option to make sure you have an individual hard title for your home section. This can be achieved, but it will cost you 4% of the property price. Once you get this though, you can live without fear of any title issues moving into the future.(A modern kitchen in a show house in a Borey project in Phnom Penh/ Realestate.com.kh)  Why is a master plan for the Borey for sale so important?Every development project needs to have a master plan. Before the development projects get the other licenses, they also need to have a detailed plan to show to the ministry to monitor whether the development would be successful or not in the future.In some cases, the ministry must conduct research on sales strategy because sometimes the owner will not make a deep study of the market and surrounding area to see if the project is likely to be absorbed by the market.Ms. Chan Socheata, the Head of the Office of Business Management Housing Development at the Department of Industry and Finance also said that "if that project sold out lower than the market price, we (the ministry) can meet with the owner to consider selling prices compared to the costs and other expenses for the project sold out at a reasonable price."The importance of Boreys having a construction license, registration certificate, and a Borey licenseThe Ministry of Economy and Finance and the Ministry of Land Management, Urban Planning and Construction have made announcements together that some of the construction projects are not registered with the relevant ministries so as to contribute to the development of real estate.Ms. Chan Socheata said that “generally, before the issuance of the license for any project development, the ministry evaluates through its checklist to find out whether the development has a clear and strong source of income, capital, collateral, land title, and other assets that support their project”Socheata advised, “All project developers have to get a license from the Ministry of Economy and Finance. And this is something that any buyer should seriously consider before buying residential properties off-plan, whether condo or Borey. Keep in mind to ask whether that project has got a license in order to protect your own benefit and not waste money with unnecessary trouble.”Overall, if we buy any project that does not have a valid license, it's very risky. And when those projects have a valid license, it’s useful to create a solid basis for the financial system, prevent financial crises, make strong regulations for buyers and sellers in the real estate industry, and have a clear guarantee from responsible developers and buyers especially to protect and prevent risks when the company goes bankrupt. Check Licence with Developer There are still concerns about some developers only registering a legal construction licence through the local government and not on the national level. This can be very troublesome for buyers in relation to either the ownership of the land or the house mainly due to the fact that possibility that the authorities won’t honour your local registration.So, before deciding to buy a house from any project, make sure it’s legal and they possess the following other legal documents such as a master plan and hard title.The types of Borey Development Budget Plans?Generally, there are three types of Borey development budget plans.The first is when a project owner uses their own capital as an investment.The second is when the project owner partners up with a bank.The third is when the project owner collects money from customers first in order to start the construction (off-sale plan).  The first situation is the safest for the buyer - because it means that the developer has sufficient capital to complete the project even without pre-sales to buyers and/or the financial support of the bank. Having said that, a project in partnership with a bank is also common in the Cambodian market and should be no real cause for concern if the developer has a good reputation and track record, and partners with a reliable and well-respected bank.The third scenario should, however, raise some concerns for the buyer. If the project doesn’t sell as fast as the developer expects, it may be halted or slowed down. In this case, if you have bought a unit presale, you may not get your new home when you expect it. And in the worst-case scenario, you might never get it at all. Also, if a developer runs out of money as the project nears completion, shared facilities within the Borey may suffer and not be built to the original promises made to early buyers - such as roads, security and community areas.(A fully-furnished and decorated master bedroom in a completed Borey project in Phnom Penh / Realestate.com.kh)  Pay With an Instalment Scheme?The economics editor of BTV, Mr Yin Leangkong warns against the usage of instalment schemes. He continues, "In fact, some developers use payment methods that don’t require a deposit. It means that customers can redeem their properties once the project is completed.” But he also stressed that "instalments may take approximately 5 to 10 years to pay. And pay costs can exceed the sale price."It is a buyer's decision to choose which payment method suits them. The instalment plan entails a higher price than normal and requires you to wait and pay for the construction until after the project is completed.  The money gathered is either allocated for the construction or for marketing.Purchase Before Construction is Finished?Paying before the completion of the project can be an advantage. The farther away it is from the completion date, the smaller the property price is. But when a project developer has to wait for money from the client to complete construction, the buyer should consider the capital and budget plan of the project. It could be riskier when you buy that kind of project because it might not have enough money and go bankrupt if clients don’t come in soon enough.If the developer received loans from the bank for the project, this gives customers the confidence to buy the property because banks have strict requirements and protocols before they approve a loan.Are Home Loans Available?It would be helpful to check if there are loan agreements available to assist you financially if you’re not able to afford the full price immediately. This gives you the flexibility to pay at a pre-arranged and more comfortable pace. There are several home loans available but different banks offer them at different interest rates as well. But sometimes Borey Developments also partner with local banks for these home loans. So, it’s best to check with both your local bank and the developer to see what your options are. Consider your home loan options before you agree to buy - not afterwards!  Get a loan from the bank or from the developer?If you get a loan from the bank, you can normally get up to between 60-70% of the property price. However, you need to have a stable income and collateral. The interest rates start at 7% per annum, with a loan term of up to 15 years. Borrowers are sometimes required to make a 30% down payment on the house price.It’s easier to get a loan directly from the Borey developer. You don’t need collateral, an income statement, or a down payment. You just have to make sure that you have a stable income to pay. But they will also be very quick to take back your asset if you fail to pay.When you get a loan from banks, they will investigate your financial capacity. They will also need to investigate whether the Borey is a safe investment or not. This is harder to satisfy for the buyer - but it may pay off in the long run.Boreys may offer easier loan terms, but you have to face more risks than a loan with the bank.    Article by: