Due to rising prime retail real estate prices, many new restaurateurs looking to set up shop in both Phnom Penh and Siem Reap are choosing whether to accommodate high property rental rates into their business costs in order to sit on the vein of the tourist and expat traffic – or whether they step outside the prime retail real estate zones and give their customers a reason to come to them. In Siem Reap, says Dave Murphy of IPS Cambodia, who have offices in both Phnom Penh and Siem Reap, prime retail real estate space is heavily centered around Pub Street, and the surrounding lane ways. “In a city with far fewer expats than Phnom Penh,” says Murphy, “this is where the money really gravitates for restaurateurs.” Check out what's on offer in Siem Reap! For those cooking in Phnom Penh, their scope for prime retail real estate, primarily, is around the riverside district, BKK1 and the central suburbs of Duan Penh and Tonle Bassac. “However,” notes Murphy, “where these businesses ultimate choose to set up depends on their products and who they are catering for - as most expats are not particularly attracted to the Riverside area.” And, in fact, prime retail real estate rental prices in affluent areas such as BKK, Duan Penh and Tonle Bassac are growing faster than those on riverside, spurred by high demand - “which suggests,” says Murphy, “that F & B businesses in Phnom Penh are realizing there is a strong market in Phnom Penh that lies outside of the tourist dollar.” Check out what's on offer in Phnom Penh! For Edward Carminati, managing director of Il Forno Restaurants in Phnom Penh and Siem Reap, BKK1 was the preferred location for his second Italian restaurant destination after great success in Siem Reap. “We didn’t choose to set up on Riverside,” says Carminati, “because we know, from our experience with our tourist driven venue in Siem Reap, that tourists primarily want to eat Asian food, and their spending limits are often smaller that the expat community.” “In fact,” continues Carminati, “BKK1 offers us access to a whole new market.” In Siem Reap, 90 percent of Il Forno’s customers are tourists – the other 10 percent are expats, who predominantly work in the NGO sector. In Phnom Penh, Carminati’s new venue caters to 80 percent expats, 10 percent Khmers and a measly 10 percent tourist traffic. See BKK1 real estate here!“In Phnom Penh,” says Carminati, “the expat community has much higher spending power than we are used to in Siem Reap. Here you have the NGOs, but you also have the corporates. The long-term expats are looking for a taste of home, and an ambient, authentic dining experience – we can offer that all year round.” Carminati confirmed that his costs of doing business are 300% higher in Phnom Penh’s BKK1, sitting on some of the countries most prime retail real estate, than they are in Siem Reap, but the profit available in Phnom Penh easily legitimizes these rates. In Siem Reap, the market is far less complex. Pub Street is the pinnacle of demand for prime retail real estate thanks to a high turnover of affluent visitors, but likewise rental rates. “It is becoming an extremely hard area to break into for new business ventures,” says Murphy, “as pub street has quickly been deemed prime retail real estate leaving few owners willing to sell, and rental rates climbing every new term.” This means new F & B enterprises have no choose but to move off the main street, where rental rates are lower – but so is foot traffic. However, in both Siem Reap and Phnom Penh, some restaurant owners are showing that it is not always crucial to have your property in the hottest areas. “Those businesses with high quality user reviews, and effective marketing, can take cheaper space in side streets off Pub Street, or a lesser known part of Phnom Penh, and customers will still find them,” believes Murphy. Carminati notes that, in fact, Il Forno’s less prominent retail space in Siem Reap, launched in 2011, located down a laneway off Pub Street, has been a blessing in disguise. “Our rental rates are more reasonable than on Pub Street, although growing fast, and, in fact, our location offers customer’s privacy, relative peace and tranquility, something very hard to offer when your restaurant sits directly on Pub Street. This keeps us well-reviewed, which makes tourist willing to come and find us off the main drag.” This is not unlike the booming F & B market in downtown Melbourne in the 1990’s, says Murphy. Spurred by the coffee culture boom, “any new cafe owners in the central Melbourne F & B industry either bought into prime retail real estate areas at huge cost – or did something very clever and unique to service their clients while they sat in the lower rental zones.” Check out IPS's listings here!

ANZ Royal Cambodia and Realestate.com.kh are working together to make your dreams of owning a home a reality. We want to help all Cambodian's leverage their finances effectively to improve their life, and the life of their families, today!Realestate.com.kh is the number 1 property portal in Cambodia, with over 15,000 properties for rent and sale, and attracting 1000's of visitors everyday! [caption id="attachment_79387" align="alignleft" width="259"] Realestate.com.kh are on ANZ Royal ATM screens across Cambodia![/caption] A standout feature of our website is being able to apply for a home loan directly - and you can even use our clever home loan calculators to work out how much you will likely need to loan, based on the price of the property you are considering. Once you know the value of your dream house or commercial property, with Realestate.com.kh you can apply for a loan directly to ANZ Royal Cambodia with the click of your mouse. This process makes getting a home loan easier than ever before - all from the comfort of your home, office and even from your mobile phone! Find out more today about how you can finance your dream home with ANZ Royal and Realestate.com.kh, Cambodia's home of real estate.

Without even considering HOW to buy into a booming real estate market, many people question whether it is a wise decision to buy into a property boom at all - and this is a fair reaction...It is also a question which is highly relevant to the current Cambodian property market, as land prices skyrocket in urban hubs such as Phnom Penh and central Siem Reap.To answer whether or not you should buy into a property boom - there is no perfect answer for every potential investor - as whether you should, or should not, buy during a property boom will depend almost entirely on your unique circumstances.  Each type of property buyer has a unique set of considerations before deciding whether to buy during a property boom.With that in mind, Realestate.com.kh wants to advise each type of property buyer respectively:The "First Home" Buyer; should you buy during a property boom? First home buyers are generally the most price sensitive type of buyer, because they may not have any equity (current properties) to use for a mortgage on their next property investment. Therefore, they are usually dependent on only their deposit savings to buy a new property. For this type of buyer, deciding whether to ride a property boom, comes down to only buying when you can actually afford to. First time home buyers have likely delayed their purchase, hoping that the market is going to adjust - downwards. However, unfortunately, in a property boom, delaying a purchase on a rising market often only costs the first home buyer more in the long run - as the average property prices don't stop growing. Keep in mind that property investment is for the long-term, even in a property boom, so the most important thing is to save hard for a larger deposit and avoid mortgage commitments, if possible. Then, aim to buy a property in a good position where you can add value over time.A "Change of Scenery" Buyer; should you buy during a property boom? In general - most people moving, will move to another property in their local area. However, many people look to escape the congestion of urban areas as they begin to grow up - in search of a quieter life on the outskirts of the city, suburbs, by the beach, near a forest or on a farm. Making a successful lifestyle-change property purchase will depend on how familiar you are with that new market, as well as the state of the property market in which you are selling your current property. Strong selling conditions in central Phnom Penh, for example, the extremely well-valued Chamkarmon district, mean it’s the perfect time to sell for those considering a lifestyle change property - and wanting to move to a location outside the central city: for example, trade in your high-valued villa property in BKK1, for a Borey home along Chea Sophara Road. Usually, prices are lower in areas outside the city, so selling in the city and moving to the country right now, during the property boom, means your purchasing power will be maximized. You should be able to get a bigger and better property with more privacy, and be near mortgage free - because you current home's sale should cover purchase fees. No mortgage would also improve your lifestyle, remember, but you might be trading this pressure for a slightly longer commute to work...The "Down-Sizing" Buyer; should you buy during a property boom? The down sizer, those people looking for a smaller, cheaper home, is often in the best position to buy their next home during a property boom. The chief example of a down-sizer is the retiree. Like an property up-grader, they tend to be selling at the same time as they are buying. However, the down-sizer is lucky that their new home tends to be worth less than the one they are selling. Strong demand will assist this type of property buyer, such as that present during a property boom - because it means a maximum sale price is available. With property boom conditions helping to assure a strong result, retirees and other down-sizers are more likely to be in a position to put some money in the bank and buy a less expensive retirement property.The "Property Investor"; should you buy during a property boom? Every property investors needs to ensure the money-return is sufficient before taking the plunge into even a property boom market. In a rapidly rising market such as Cambodia, that means keeping a strong head and not getting caught up in the boom fever. One of the main factors influencing your decision of whether to buy in a booming market, as a property investor, will be whether you will also be selling in a booming market, since capitalizing on demand for your existing property will boost the cash you have available to fund your next purchase. Consider your circumstances seriously before stepping into even a booming market - and consult a financial adviser to help make the right decision.Read more about how to approach property investment decisions, on Realestate.com.kh today!

Here are the top 6 reasons why Online marketing should be the #1 tool to grow your business, real estate agency or new development sales force... and why it can ultimately replace traditional sales methods. Online Marketing for property sales allows your business to Test Ideas Quickly:Online marketing campaigns are quick and easy to set up, and they can be switched ON and OFF with the click of a mouse. You can also have more than 1 variant running in parallel at the same time - split testing - which allows you to directly compare 2 marketing campaigns at once. Therefore it is very quick to test new ideas.Fast to Scale Up:Once you have a new Online Marketing Campaign working well it is easy to replicate it at a much larger scale - because with all the data and analytic's at your fingertips, you know exactly what worked, and what did not work. This makes online marketing campaigns perfectly suited to scaling up.Push beyond Your Tradition Reach:The internet helps you to reach people anywhere in the world. Your target market expands dramatically when you can reach people beyond your actual location - especially if you are looking for international property investors. With Online Marketing you can engage with someone, who knows someone, who knows someone you know in just matter of seconds - and across thousands of kilometers. That is the power of social networks and online marketing. If you have a small network of 450 contacts online, your potential to expand this network through online marketing is massive.Online Marketing beats Cold Calling because Your Sales Leads are Qualified and Excited!Knocking on the doors of strangers with cold calls or emails means they don't know anything about your service or properties - and this makes sales progress slow. With online marketing your customer knows all info before they reach you, and they are excited! Which client has a better chance of direct sales? Digital marketing helps you to build a pipeline of "inbound" sales leads that are easier to convert into a sale because all the educating and convincing is already done before you talk to the prospective client.  It is always more rewarding when you meet people who are looking forward to talk with you!Online Marketing comes at a Lower cost compared to traditional ways:Using the internet to find real estate buyers is much more cost effective compared to other mediums simply because internet infrastructure is much much cheaper compared to physical infrastructure. And the best part - you only pay for what you use, and you can start small!Build a "brand" through Online Marketing to stay ahead of the pack:It gives a strong competitive advantage when you can differentiate yourself against competition by branding yourself online, and online marketing helps you to create and promote that brand very easily and very cheaply.In conclusion, online marketing can be a very powerful sales tool for your real estate venture, whether you are an agent or property developer, for just two key reasons - Firstly, it helps you to TEST ideas, and it helps you to SCALE things up. These are the two key components of marketing success - and they are right in front of you! However, having said that - don't forget 2 things:A Sound Business Model must come first:You must have a solid business model built around customer value before you can think of online marketing. Online marketing will not replace or improve a bad business idea.Don't forget Traditional Marketing:This is no argument of Online Marketing vs. Traditional Marketing. Add traditional channels of marketing as your business grows, but start with digital for the reasons above. Interested in checking out online marketing that pays? Check out our guides now!

First came artificial islands off the coast of Dubai, and the next stage is building villa homes that will be sit half above, and half below, the water. A first for the world property market! A developer, known as the Kleindienst Group, is now set to build the villa project. Each Villa home will have two floors above water level - and one beneath - as part of The World islands project, known specifically as the Heart of Europe. The 1,700 sq ft villas, expected to be finished in 2017, have been introduced at the price of Dh5 million, on a construction-linked payment plan. Read more of the latest real estate news today, on Realestate.com.kh

Diamond Island, known as Koh Pich in Khmer, is a piece of land located just a few kilometers south of the merger-point of the Mekong and Tonle Sap rivers. Diamond Island is separated from Phnom Penh’s Tonle Bassac area by just a narrow channel and connecting bridges. Now covered in the widest and least-congested roads in central Phnom Penh, this island is filling up quickly with residential, retail and hospitality projects aimed at affluent locals and foreign investors.

Sihanoukville has long been a part of the government’s plan to develop the Southern coast as Cambodia’s next tourism hotspot after Siem Reap, and if recent arrival numbers are anything to go by it seems to be growing in appeal. However, as new property developers and casino operators descend on the city, and as budget backpackers continue to zip past to the beaches of nearby islands, it is yet to be seen how the development will play out and what crowd it will bring in. In the first eight months of the year Sihanoukville airport handled a total of 65,698 passengers, with total arrivals at 35,882, up 149 per cent and 140 per cent year-on-year, respectively. Check out properties for RENT in Sihanoukville now! But as nearby islands such as Koh Rong and Koh Rong Samloem become more heavily marketed, and with the amount of visitors increasing every year – including tourists from other Asian countries –Sihanoukville still looks scarcely more than a forgotten seaside town. Ho Vandy, a tourism expert and former co-chair of the Private and Public Sector Working Group, said the city has been neglected and outpaced by visitation to the islands, which is largely apparent in the low season. “There needs to be more attractions such as theme parks and special places to visit to get more tourists all year round,” he said. But beyond the view of sleepy restaurants along Ochheuteal and Serendipity beaches that offer nearly identical sun-bleached and faded menus, Sihanoukville has a growing property sector driven by largely Chinese and ASEAN investment that could pick up the slack during the quiet periods. Check out properties in Sihanoukville, on Realestate.com.kh! One industry that appears to be taking off more than others is gambling, as integrated hotel and casinos aimed particularly at the rising number of Chinese visitors, multiply. Ros Phirun, spokesman for the Ministry of Economy and Finance, said the number of licensed casinos operating in Sihanoukville has doubled since last year to 15, with an additional five applications pending approval. “Before, casinos were mainly at the border but as the economy grows and more tourists visit the coast more casinos are opening… and for first time Chinese are going to the seaside to look for opportunities to invest,” said Phirun. Sihanoukville’s casino boom now puts the city on a par with Poipet, near the Thai border, in terms of the number of licensed facilities, though, still lags behind in volume. But this could change as Chinese arrivals continue to surge. From January to August of this year, arrivals from China to Cambodia totalled 461,518, up 26.5 per cent year-on-year and accounting for 15.2 per cent of total arrival numbers. These numbers have secured China’s place as the second biggest source market behind Vietnam. With Sihanoukville International Airport now operating flights from South Korea, Singapore and China, as well as daily flights to Siem Reap, the coastal city totalled more than 1 million visitors during the eight-month period, boosting its connection not only China but the rest of Asia. Phirun says the casinos, lit up at night in Chinese characters, predominantly do business with online games rather than face-to-face and that the growth of casinos will hopefully draw in more business tourists with greater spending power. “Sihanoukville previously attracted local tourists who mostly visit on the weekend and during the holidays, which means business is very slow during the week. If the city can attract more investors in gambling, then construction, hotels and a bigger tourism business will grow accordingly,” he says. But despite the economic potential of hotel and casinos, the country’s gambling industry has long maintained a murky reputation, while Sihanoukville rarely makes positive headlines. Check out properties in Sihanoukville, on Realestate.com.kh! Earlier this year, there was a highly publicised incident involving a group of armed men launching an assault in the Queenco Hotel and Casino to extort money from music festival organizers. The music festival, Kazantip, which had for years been held on the Crimean peninsula before shifting to Georgia, was eventually cancelled after what government had deemed it an “indecent” and “illegal” event. Meanwhile, casinos in the border towns of Bavet and Poipet have been dogged by stories of kidnapping and extortion. Yet, the absence of law, oversight and bad press has still attracted brisk investment amid relaxed regulations and fewer restrictions compared to neighbouring countries. Check out properties for RENT in Sihanoukville now! The Post reported last month that a senior official in Cambodia’s anti-money laundering agency said the body lacks the resources to investigate or penalise financial institutions that break the law, leaving the country open to exploitation by organised crime. But at the moment, it seems any investment is good investment explained Luu Meng, President of Cambodia Hotel Association. He said that with Chinese investors taking risks by building large scale properties, this could hopefully lead to diversification within the market when more cautious investors show interest. While he said it is important to have a balance of regional and foreign investors, regardless “Sihanoukville has been waiting for many years for someone to start it off...and it’s always good to have more tourists looking for different things,” he said. “It’s always good to see construction going on and it’s a good indication there will [be] even more development because more than a year ago Sihanoukville was so empty.” However, it’s not just casino operators that are looking to cash in on Sihanoukville’s growth. The city has caught the attention of major property developers. Earlier this year Cambodian property and hotel conglomerate SGPD Corp. broke ground on The Sunshine Bay, a 31-storey mixed development with three towers comprising 900 units, water parks and bars, to be located on Independence beach. Prices per unit start from $123,000. The developers reportedly sold more than 200 units before the groundbreaking ceremony in May to Taiwanese, Chinese and Cambodian investors. Another such property is D’Seaview, a 735-unit condominium backed the Singaporean agribusiness company HLH Group Ltd under their newly formed Camhomes branch, will be located near Sokha Beach. Through private subsidies the company is marketing units as low as $33,000 for Cambodian citizens. Construction on the project is expected to begin later this year, with a completion date of 2018. Ross Wheble, country director for global real estate consultancy firm Knight Frank, said Sihanoukville’s first real condominium projects are aiming to bring international standards to the city and breaking a long spell of inactivity and relatively flat land prices. Check out properties in Sihanoukville, on Realestate.com.kh! “This in part can be attributed to the increase in scheduled flights to Sihanoukville Airport which is only going to increase over the medium to long term, in addition to the growth of the industrial sector and the increasing number of [special economic zones],” he said in an email. The inflow of investment is also seeing Sihanoukville’s popular beach, Otres, gain interest as higher-end hotels offering luxury amenities set up in the stretch farther away from the city called Otres Two. “Presently, Sihanoukville itself does not have so much of a good reputation and Serendipity Beach is not the best. The reason we are seeing development at Otres Beach is that it is catering to the more upmarket/family tourist segment as opposed to the backpacker market associated with Sihanoukville,” said Wheble. Check out properties for RENT in Sihanoukville now! Norn Thim Sothear, director of Sihanoukville Property, said the speculation in Otres Two also comes amid a lack of space on Otres One, which has pushed land prices up by about $100 since last year, totalling $600 per square metre along the entire beach. Whether Sihanoukville’s growth will complement the government’s tourism drive and attract a breed of tourist other than backpackers or whether it will turn into a generic casino town like Bavet will remain to be seen. But for now the focus is taking that initial plunge and shaking the city from its slumber. “It requires someone to take the risk. Someone has to begin building and we’ll need to wait for the customers to see what happens,” said Meng. Check out properties in Sihanoukville, on Realestate.com.kh!  or Check out properties for RENT in Sihanoukville now! George Styllis, Phnom Penh Post, Post Property

In the current state of relative political stability and strong economic growth while the earning potential of Cambodians increases, the overall supply of Borey housing has risen by 15 per cent compared to the same time last year, a recent study has found. According to a recent study by Bunna Realty Group, up until the third quarter of this year, the number of Borey projects has swelled to 110, up from 74 last year. Additionally, a total of 151 residential projects entered the market. The study found that there are a total of 47,000 residential units presently available, up from 42,000 last year with a rate of sale hovering around 80 per cent. While flats are still regarded as the best-selling type of housing, which range from $44,000 to $190,000 dollars, villas were also on the rise. A newly built villa can start at $60,000 and run as high as $1 million based on size, location and design. Most of the Borey projects were located in the Sen Sok District with a total of 35, 26 in the Russei Keo District and 22 in the Por Senchey District. Looking at rate of sales, the study found that Borey Peng Hout was the most popular, with Borey New World and Borey Chip Mong Land also posting strong numbers. Hin Socheat, research director of Bunna Realty Group, explained that due to the increase of demand in housing along with the ability of homeowners to receive housing loans from banks and low interest mortgages directly from Borey developers, homeowners have been able to invest in homes at lower interest rates. “The popularity of independent living away from the family, the increase of middle-income families and the fluctuation of people migrating to Borey’s has contributed to the increase,” he added. According to a report by the National Bank of Cambodia, 19 per cent of bank loans in Cambodia focus on the real estate sector with at a total of $2 billion. “Bank loans have become a core part in pushing real estate sector in Cambodia further and it facilitates even more investment and admission into this sector,” he said. However, he added that while the prices for Boreys have increased from last year, “this study [did not] focus on that issue” and looked at only supply and demand. Siv Meng, Phnom Penh Post, Post Property

LinkedIn has more than 187 million members across 200 countries around the world. While some see LinkedIn as no more than an online resume/CV, LinkedIn should be considered an online social media site for business professionals looking to connect, network and engage - and it is perfect for real estate agents. As a real estate agent or professional, LinkedIn is a cheap and handy addition to your online business profile.  For real estate agents, it is also the perfect place to identify targets and initiate sales! In regards to staff recruitment, it is also your window into the professional community, available as soon as you sit down at your computer – allowing you to shop around for your next recruitment drive. Did you miss Part 1? Read it here! Or maybe you are looking for Part 2? See it here!Maybe you would like to get started, but don’t know how? Here are a few useful tips, Online Advice for Realtors, from Realestate.com.kh, to boost your real estate business online and use the power of the LinkedIn network!Online Advice for Realtors Part 3: Get Involved and Create Engagement: The power of LinkedIn lies in its unique ability to research, locate, connect and engage all in one location. It is a social network dedicated to boosting your business by working alongside your current offline marketing efforts. With that is mind, stop lurking and get involved! Join groups about real estate and investment: Start a topic around a niche that you understand well, and get a conversation going within that group.  When group members reply, be ready with helpful answers to these questions. Doing so can help establish who you are in the market - and allow you to comfortably connect with people within that group. Like or comment on the status of your connections: If they post their latest blog article, make a comment indicating what interested you about that. What did you like most about it and how will that impact the way you do business? We all love hearing feedback, especially from trusted business connections. This allows people to view you as an active and thoughtful professional, and build trust once they meet you in person. Follow companies through LinkedIn’s “Company Follow”: Here you can identify possible staff recruits, keep up-to-date with the company through status updates and even choose to receive notifications when an employee makes a move. Research you competitors within your local market through LinkedIn’s “Advanced People Search” feature. Don’t Forget Your Back Links: LinkedIn gives you the ability to link out to your website, blog or any other website you choose. It is a simple set-up process and a fantastic way to establish your brand while driving traffic to additional online properties you are listing. Also, make sure to change the standard “My Website” title that LinkedIn provides. Edit that basic information to give connections a better understanding of your services and the specific information you are offering on your company website. Did you miss Part 1? Read it here! Or maybe you are looking for Part 2? See it here!

LinkedIn has more than 187 million members across 200 countries around the world. While some see LinkedIn as no more than an online resume/CV, LinkedIn should be considered an online social media site for business professionals looking to connect, network and engage - and it is perfect for real estate agents. As a real estate agent or professional, LinkedIn is a cheap and handy addition to your online business profile.  For real estate agents, it is also the perfect place to identify targets and initiate sales! In regards to staff recruitment, it is also your window into the professional community, available as soon as you sit down at your computer – allowing you to shop around for your next recruitment drive. Did you miss Part 1? Read it here!Maybe you would like to get started, but don’t know how? Here are a few useful tips, Online Advice for Realtors, from Realestate.com.kh, to boost your real estate business online and use the power of the LinkedIn network!Online Advice for Realtors Part 2: Make Online Connections: After completing your profile, as explained in Part 1, it is time to make some new connections. Start by reaching out to your current friends, existing clients and professional relationships that you have already established outside of the internet. Use LinkedIn’s search to explore by name, company or keyword. Go through your business card collection and add them all to your new online phone book. Choosing “advanced search” will offer a substantial amount of options allowing you to do a deeper dive into keywords, location or industry. Your LinkedIn contact database will now always be updated on your job status, blog posts and can contact you directly via LinkedIn messages. You will also be able to follow their updates, so you stay well informed. One very important note: Be careful approaching strangers and trying to connect with them. This can affect your reputation as a real estate professional. If you do this too much, it can also get you banned from adding any additional connections (if you are marked as a spammer by LinkedIn). Having said that, it is always acceptable to ask your current connections for recommendations or referrals to someone they are already connected to. Check out Online Advice for Realtors: Boost your LinkedIn Profile Part 3 here

LinkedIn has more than 187 million members across 200 countries around the world. While some see LinkedIn as no more than an online resume/CV, LinkedIn should be considered an online social media site for business professionals looking to connect, network and engage - and it is perfect for real estate agents. As a real estate agent or professional, LinkedIn is a cheap and handy addition to your online business profile.  For real estate agents, it is also the perfect place to identify targets and initiate sales! In regards to staff recruitment, it is also your window into the professional community, available as soon as you sit down at your computer – allowing you to shop around for your next recruitment drive. Maybe you would like to get started, but don’t know how? Here are a few useful tips, Online Advice for Realtors, from Realestate.com.kh, to boost your real estate business online and use the power of the LinkedIn network!Online Advice for Realtors Part 1: Perfect your Professional LinkedIn Profile: Your LinkedIn profile must be compelling, concise and clear - so that potential clients, recruits or business relationships can immediately identify your specific area of expertise. With so many members, you must keep your profile clean, complete and up to date - or you will quickly get overlooked among the crowd. Take your time when preparing your profile content: Just as your company website is a direct reflection on the professional nature of your business, so is your LinkedIn profile. You wouldn’t hand out a CV for a job without checking grammar, dates and spelling, so don’t do this on LinkedIn!  Errors within your profile send a message that you don’t want associated with your professional reputation. Add all relevant skills and training you’ve gained throughout your career: Remember, buyers and sellers will research online, digging for details about you and your business long before they ever connect with you offline. Make sure they know your value perfectly before they meet you. Let your unique personality and abilities shine through: While this is a professional network and not Facebook, you do want to inject character into your profile in order to stand out from the masses. Differentiate yourself from the other real estate professionals in your area; that will grab other users’ attention. Make sure you always update your professional headline: Because, your professional headline acts as a short bio which leads people to click onto your full profile, it should be attention grabbing and include words that position you as a leader within the real estate industry. To be found when potential clients search for “real estate” or “realtor” within your area, use words related to your industry and area. You can also optimize your LinkedIn profile with keywords specific to your expertise and location.  For example, if you specialize in leasing apartments in Phnom Penh, Cambodia, your keywords would be “Leasing Specialist Phnom Penh Cambodia.”  These are directly searchable terms that allow people to quickly find you when searching real estate professionals in that area, with skills in a certain niche of real estate. Optimize your profile image: This means using your identified keyword (including your name) in the saved title of your head-shot image – for example: “leasing specialist phnom penh Cambodia john carter.jpg”. In addition, since this is a professional community, make sure your image is a high-resolution head-shot that makes you easily identifiable. Don’t put up a photo from Facebook of you at a night club – remember it is a PROFESSIONAL social network. It also helps to customize your profile URL with your name (first and last) making it easier to locate your profile in the LinkedIn search. By default, LinkedIn will give you an arbitrary URL when you initially set up your profile. But it is easy to customize this link and create your unique LinkedIn URL destination. Check out Online Advice for Realtors: Boost your LinkedIn Profile Part 2 here

The following information explains the steps necessary for transferring land titles of ownership in Cambodia, thanks to Realestate.com.kh.Step 1 Land Title Transfer in Cambodia.The buyer verifies the title certificate with the Land Office, checking for potential liens (debt) or other encumbrances: For the first step, the buyer must obtain a copy of the initial title certificate from the seller and verify proper ownership, ensuring that the seller is the rightful owner of the title certificate. He/she verifies the title certificate with the land office to ensure that there are no liens, mortgages or other encumbrances registered already for that property. Relevant Government Agency: Land Office Estimated time to complete the step: 10 days (should occur simultaneous to steps 2 and 3)Official cost: According the Prakas 995 dated of December 28th 2012 on public service at Ministry of Land Management, Urban Planning and Construction = KHR 50,000/US$12.50Step 2 Land Title Transfer in Cambodia.Obtain information on the property from the relevant Commune Council Official: The land purchaser must contact the village chief or the commune council official, in which the property is located, to obtain information on the land, in addition to an official search upon the title at the municipal land office. Relevant Government Agency: Commune Council Estimated time to complete the step: 10 days (should occur simultaneous to steps 1 and 3)Official cost: No CostStep 3 Land Title Transfer in Cambodia.The buyer must obtain the certificate of incorporation of the seller’s company and other official documents from the seller: If the landowner is a legal entity, the buyer must obtain a copy of the ID of the shareholder, or person acting on behalf of the company, and a certified/notarized copy of the certificate as issued by the Ministry of Commerce. These documents are needed to verify the accuracy and identity of the company name appearing on the title certificate. A Power of Attorney is also needed, as well as a resolution signed by the Board of Directors from that company authorizing the named individual to represent the company at the land office, accompanied by the Power of Attorney implementing that Resolution.Relevant Government Agency: Ministry of Commerce Estimated time to complete the step: 10 days (should occur simultaneous to steps 1 and 2)Official cost: KHR 80,000/US$20Step 4 Land Title Transfer in Cambodia.Apply for registration at the District Land Office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC): When 2 persons/companies wish to buy/sell real property, they must first go together to the district office of the Ministry of Land Management, Urban Planning & Construction (MLMUPC) and arrange to prepare and sign documents. The documentation needed includes the company’s statute, its Certificate of Incorporation, and Power of Attorney (obtained in Step 3). At the same time, the original Title Certificate held by the seller must be presented to the Khan at the time of signing the deed, in order to have the name of the new owner officially inserted on the document.Relevant Government Agency: District Land Office, MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction) Estimated time to complete the step: 20 - 30 daysOfficial cost: A cadastral transfer fee of KHR 600,000 is paid to MLMUPC.Step 5 Land Title Transfer in Cambodia.Pay transfer tax at the Tax Collection Office: A transfer tax of 4% of the total value of the property is paid to the Ministry of Economy and Finance at the Tax Collection Office, relevant to the location of the transferred property. A Tax Receipt is then issued to prove that the property transfer tax has been paid. The 4% transfer tax is set out in Article 40 of the Law on Finance 1995. In Phnom Penh, however, this tax is not assessed based on the true transacted value of the property; but, rather, based on a schedule of price of property determined by the Phnom Penh Municipality. The assessed valuation by the Phnom Penh Municipality is usually based on the total number of square meters, the land’s location, use, potential use etc. The tax is thus not based on the actual price for which the land is sold; rather it is based on the assessed value made by the Municipal office. If the land is more than 1200m², the surplus of the land will also be subject to "unused land tax." For land less than 1200m², the unused land tax is not applicable. *The time for the tax office to complete the calculation of transfer tax will depend on the location of the land and its size. Relevant Government Agency: General Department of Taxation Estimated time to complete the step: 1 day*Official cost: 4% of property value (transfer fee)Step 6 Land Title Transfer in Cambodia.Return to Cadastral office to complete the registration process: After all taxes are paid, the parties may return to the cadastral office at the MLMUPC and sign/thumbprint a MLMUPC form for buying/selling real property, as filled in by MLMUPC official. The signing/thumb printing must be witnessed by a local authority such as commune chief, who will also thumbprint. These procedures are based on Land Law Arts. 65, 244 and 245. Land Law Art. 69 bars transfer unless all necessary taxes are paid. The documentation provided should include payment receipts of transfer tax (obtained in Step 5). Relevant Government Agency: MLMUPC (District Land Office of the Ministry of Land Management, Urban Planning & Construction) Estimated time to complete the step: 5 daysOfficial cost: Cadastral service fee paid in Step 4Step 7 Land Title Transfer in Cambodia.Obtain the certificate of title from the Municipal Land Office: The Khan/District land office forwards all the “transfer documents” to the Municipal Land Office where it issues the final Certificate of Title in the new owner’s name. It is now registered. Relevant Government Agency: Municipal Land Office Estimated time to complete the step: 1 to 2 weeks. The last procedural step in practice can take several weeks, depending on the diligence of the land officials and interested parties.Learn more about all aspects of land law in Cambodia in our Investment Guide 2019. You'll become an expert on the Kingdom!

Developers in China facing debt problems are turning to buyer’s incentives such as luxury cars in a mad rush to flip an catalog of unsold apartments in a real estate development about seven times the size of Manhattan Island. Hopson Development Holdings Ltd., in May this year, offered a free Porsche to the first 30 home buyers of apartments in their development complex in southern China as a publicity stunt, and market stimulant. As a result of this policy, Evergrande Real Estate Group Ltd. is allowing home buyers to cancel prior purchases in the development and get all their money returned before the completion of the project - demonstrating their mistrust in the developers. These types of grand offers show huge urgency among developers forced to generate quick cash to reduce debt over their developments in mainland China. Yet, a similar story was seen in Melbourne recently as a luxury development in Toorak gave away BMW i3s, the manufacturer’s latest electric model, to the first home buyers to sign up. Developer forgets carpark!

Local property developer, WorldBridge Land, Co. Ltd., and Singapore-based construction company, Strait Construction Group Pte, Ltd, last week announced a $100 million Memorandum of Understanding on affordable housing with the government.Singaporean developer HLH Group Ltd also announced its entry into the Cambodian property market with the launch of CamHomes in June of this year, a real estate agency under the company, Public Housing Development (Cambodia) Ltd.While at the birth of both of these recent ventures, government representatives have announced their goals of developing policy for constructing public housing for low-income and lower middle-income earners in Cambodia, there has been no indication as of yet that these two recent agreements with private companies reflect this policy directly.Yet, a Google search reveals that the terms ‘affordable housing’ and ‘public housing’ have been used synonymously by local and regional media to describe the very same projects.Per definition however, ‘public housing’ refers to a form of housing tenure in which the property is owned by a government authority.Supporting a lack of clarity surrounding the government’s direct ownership of new housing projects, at last week’s signing of the Memorandum of Understanding between the Government, WorldBridge and Strait Construction, Im Chunnlim, senior minister of the Ministry of Land Management, Urban Planning and Construction, reiterated that Cambodia’s government has drafted a policy on housing which indicates seven choices to solve housing issues, one of which shall be a collaboration with the private sector.Im added that in the draft policy, companies can give part of their housing to the government to sell to the middle class; the government can give a piece of land to a developer to build housing for the middle and lower class by requiring them to sign up for a long-term mortgage without interest; or the government can allow for infrastructure and social development in the case that the developers have a piece of land or enough capital to invest. But in return developers must give a certain area back to the government to use as housing for the middle and lower class.Yet despite this statement, there has been no public clarification as to whether any such direct terms were stipulated in last week’s MoU.Upon further email enquiry yesterday, WorldBridge chairman Oknha Sear Rithy told Post Property that his investment had already shaped into a construction plan saying there would be two townhouse projects in the southwest of Phnom Penh and they “should finish by the end of 2017”. The land, he added, was owned by the developer and not the government.While the investment volume of $100 million and the construction details are clear, the price of individual units, the amount of subsidies going into them and who will pay the subsidies is not, according to the Oknha, who added that these questions are currently being discussed.What also remains unclear is the mechanism, through which subsidies could be raised. An employee of WorldBridge mentioned to Post Property on the phone that taxation relieves on imported construction material could be a form of government subsidy that would pay for the discount on the original price per housing unit. In addition to that, construction permits could be granted to the developer for free. Whether these subsidy mechanisms – which were not brought up in senior minister Im’s rundown of subsidy solutions – would suffice for subsidies in housing units, Oknha Rithy said he could not comment until “after our team finalised it”.Other than knowing how much a housing unit could cost and how it could be subsidised, it would be important to decide which people in need would benefit from the programme and if the administration to decide would be in place.To that the Oknha said: “Next year we will start the first project. While the scheme of subsidies is still in discussion, I hope to have concrete information by the end of this year.”Considering all the uncertainties revolving around the MoU, a successful partnership between the private sector and government to build public housing seems up in the air.If the government does not have the means to pull their weight in the scheme, WorldBridge could at least complete the project and see the housing units without subsidies, according to Oknha Rithy.“Yes, we can stand alone but I am sure the government is supporting us and will cooperate with us,” he told Post Property yesterday.On Saturday September 26, Deputy Prime Minister Sar Kheng, spoke at the launch of the CamHomes showroom. He called CamHomes D’Seaview development in Sihanoukville a step in the right direction to home ownership, saying, “[In the] Cambodia context, a supply of contemporary housing to accommodate growing middle income populations is still one of the major developmental challenges facing the Royal Government of Cambodia.”He went on to say that CamHomes was said to fall in line with the National Public Housing policy currently in the process of development by the Ministry of Land Management, Urban Planning and Construction – a plan which he expects to see the results of in the next few years.While CamHomes’ approach may be in line with a policy that may take years to materialise, one has to note that CamHomes is a developer realising its project with private sector funds.Deputy Prime Minister Sar Kheng also noted at the CamHomes launch that while the construction and property sector has substantially relied on the private sector for investment projects, the government has been actively promoting an investment climate conducive to the growth of the market.Dr Peng Hong Socheat Khemro, general director of the Ministry’s Housing Department for the Ministry of Land Management, Urban Planning and Construction, officially spoke with Post Property in May 2015 regarding the planned public housing policy.When asked about the progress of this strategy in May, Dr Peng Hong Socheat Khemro said that “Our first job is to develop the mechanism. Our second job is to educate national, provincial and commune-level government officials about what we are trying to do. We will move on to the construction trial stage only when we have the mechanism and the ability, which will possibly begin in 2017 or 2018.”Thus, affordable housing appears to remain the initiative of the private sector in Cambodia.This article was a co-production of Realestate.com.kh and The Phnom Penh Phost, Post PropertyIf you want more information and updates, subscribe to the mailing list now or check out the news section of Realestate.com!

For all you happy home bodies out there, check out this funky Japanese invention - the all day bed! Your bed, sofa and table, thrown together in one super soft piece of furniture. Stay at home in bed all day!But, maybe not perfect for Cambodian home bodies - with an electric heater underneath the whole unit, and a luxurously heavy blanket thrown on top, keeping you nice and toasty all day long.Read more of the latest and greatest real estate news right here on Realestate.com.kh!

Kim Heang, owner and director of Khmer Real Estate became president of the CVEA (Cambodian Valuers and Estate Agent Association) a month ago, scoring 18 of 49 votes. Announcing the time for talking was over and it was time to act he has stirred up the CVEA. He pushed through votes on service fees that some members complained about and two vice presidents resigned around his inauguration. They have been replaced by Kim’s private sector competitors. Each of them has a specific target sector to win over for CVEA, namely condos, boreys, embassies and banks. Kim claims the entire voter base of 49 is behind him instead of having cliques that block each other. A CVEA founding member, he is determined to evoke change and ‘bring CVEA onto its next level of professionalism’. Post Property met Kim to follow up on his promises of unity and education, his difficult inheritance and his vision for Cambodia’s real estate market of the future. With your predecessor Sok Bun being in jail due to a scandal of a violent outburst do you feel that you are accepting a difficult inheritance? How has the association suffered from this blow and what are you going to do to make it better? Some people say he became the president at the wrong time, and some people just see the damage to the reputation caused by him. We have to accept that he has done positive things too; at least he supported CVEA with $50,000. We still have some money from him. Maybe he does not have a good relationship with the local media, but all media are my friends. If he didn’t have to leave office I could not have become president. Now the members may think it’s good to have a president who is not rich or an Oknha. What are your goals for the presidency? I will be president for one year and two months, so I know if I want CVEA to run smoothly, it needs money. Without money, you cannot do anything in Cambodia. After checking with my accountant, I found out that every year we need around $25,000 to $30,000 for operation. So my first priority is to get funds for CVEA. As CVEA is a non-profit organisation, we will die without sponsors. But we have been around since 2008 and real estate organisations want to be a part of us. We have talked to some developers and they are happy to fund us. My second priority is to build a united team. As president, I have the right to select the vice presidents to support me. Instead of choosing my friends to sit for the vice presidents, I asked my competitors in the election campaign to be my vice presidents. I got 18 votes out of 49 votes in the election. If I asked my friends to become the vice presidents, there would be a problem for CVEA. As my competitors have their own supporters, if I ask them to become my vice president, their supporters will also come to me. Now I can get all the supporters and we are united. Then we have to do some promotion and bring our members to our business partners. Under the lead of our vice presidents, our members have met all the foreign embassies, talked to some bank directors and visited many condominium and borey projects. This is especially important to small companies as they do not have many of these opportunities. How are you going to improve the position of smaller real estate companies as you promised when you went into office? Banks are willing to talk to some large real estate companies, but banks do not know who the small company is. That happens a lot, in property. Five companies account for 70 per cent of the market. Members of CVEA, no matter which company they are from, can get one month of commission. Others only offer half month’s commission to small companies. For small companies, if they are alone, they cannot get access to finance. But as a CVEA member, they can. Small companies have limited knowledge, a disadvantage. There is a need to educate the people. How are you going to tackle your pledge to develop a training centre? What are the standards you aim for? Some members suggest that CVEA provides training and does the training for profit. However, we already have some members working on this. If CVEA does the same that means CVEA is competing with its members. CVEA does not need profits, so we let our members provide the training. If these companies need our support to provide training, we are happy to do so. But we have to see what the curriculum is about and who the teachers are as what I have told to those companies who want to cooperate with us. However, until now no one has sent me the details or curriculum of their training but we will give them some time first and wait until the end of this year. Otherwise CVEA will do the trainings by finding partners from Singapore and Malaysia. Only for the moment we should provide those regional real estate training standards, but in three to five years, CVEA needs to have international standards like from the UK or USA. How can you achieve this long-term goal when you are only president for one year and two months? We will see. Real estate schools are mainly there to recruit new, qualified agents – will you have a ‘war for talents’ among CVEA members? Would people in CVEA’s top positions not channel the best graduates into their own companies? My way is not pushing or stopping anyone. After all it’s a free economy and money goes first and companies have limited capacities to hire new agents. I don’t see an issue there. How do you define “value and fame”that you promised bringing to the CVEA? Our members are cheating on each other more than cooperating, so we have to work as a team. They are not cheating on the money but on the services. Sometimes some real estate agents just pretend to be a booker and go with other agents in order to add the other agent’s property to their portfolio. This confuses the real estate industry as people cannot tell who the booker is and who the real estate agent is. So we have introduced a consultation fee to stop agents who pretend to be bookers. If someone wants to see a property, we will charge locals $5 and foreigners $10 per booking. It is a kind of internal regulation. I know not all people are going to follow, but as long as about 20 to 30 per cent of them do then people will start from now on as they need time to adopt the new strategy. This can also help screen out the fake clients as they will not pay the fee. What will be your focus of the AVA (ASEAN Valuers Association) congress in June next year? For the congress, we are supposed to have five countries from ASEAN to join. But some of our members worry that we do not have money or human resources, or that we do not know how to organise it. However, I have 10 years experience in teaching at university and I have travelled a lot. I have done real estate business for 10 years and joined a lot of congresses and events. So I know how to do it. By doing so, our country can gain a lot of international media coverage. We hope to promote not only real estate and construction but also tourism and our country to the world. Please give me some details about your cooperation with the government? How do you work together? You mentioned ‘transparency’ in an earlier interview. CVEA was founded in 2008 and it was under the Ministry of Finance until last year, but still officials want to control you. I was the one to say CVEA must separate from the ministry even before I became the president. When under the ministry, decisions were made so slowly. Time is money but officials did not care. Now we can work 10 times faster than before. Besides, there is no boss in the meeting. All members, whether you are a big or small company, are equal and have only one vote, and they have the same opportunity in meeting our business partners. In your pitch for presidency you said “I will gain the trust of the members and the general public and will set a goal for the organisation which I can achieve during my term as president”. Do you think it is difficult to gain the trust of the members and what are the issues and challenges? I’ve already gained the trust of them. I got my competitors to be my vice presidents and those three may become the next presidents. So they have to compete; they compete with each other but not with me. I came alone and I didn’t bring my people, so they trust me. I work for CVEA, but not for my own company or for the public. Many people in the CVEA worried when I became the president as they were afraid I will get my people in to take over. But all the staff I just kept the same. I said you stay where you are and I give you a five per cent increase in salary. There are four people – three the same as before and one new as there is more work. I am not coming here to sleep; I do a lot of work. Julius Thiemann: Phnom Penh Post, Post Property

Chamkarmon district has surely been seeing a continuous rise of land prices year after year, BKK, Toul Tumpung and surrounding areas proving to be a haven for foreigners and very wealthy Khmer. But, according to a recent report and commentary from experts within the industry, lack of infrastructure capacity, and trends among locals moving to the city’s outer reaches, will eventually slow Chamkarmon development growth.According to a report from the VTRUST Journal of Real Estate released on October 26 this year, Phnom Penh’s land prices have risen by approximately 10 per cent year after year. In Chamkarmon this climb has been the most extreme. In Chamkarmon district, especially BKK, sub streets cost around $2,000 to $3,500 per square metre, and land along major streets costs about $4,000 to $6,000 per square metre.With property demand continuing to grow within the Chamkarmon district, specifically within Boeng Keng Kang, Tuol Tumpung, Tuol Svay Prey and Oulampik in the first half of 2015, 20 new developments worth over $3.2 billion have been approved to start construction within the Chamkarmon district. These new developments are expected to reach an estimated value of $3.6 billion this year. From 2011 to 2014, according to the report, developments were valued up to only $2.2 billion each year.However, according to Hoem Seiha in a recent Phnom Penh Post report, the director of research for VTrust Appraisal Co., Ltd., eventually this lack of infrastructure will cause land prices to stabilize in the longer term.“With 20 per cent car ownership per household in the city and the ever-increasing rate of the white collar class who commute from different areas to downtown Phnom Penh, the lack of adequate parking solutions will be the daunting challenge for business communities in the CBD,” he said in a recent interview.As a result of this, the outskirts of Phnom Penh will cause future competition with the Chamkarmon district as Khmers move away from the congested inner city. Northwestern Phnom Penh is seeing massive growth, as is Northern Phnom Penh, and also land around the International Airport.As outer suburbs of  Phnom Penh gain stronger infrastructure and pools of private real estate investment funding, such as Aeon Mall 2, Chip Mong Land and New World Sen Sok in Phnom Penh Thmey, Camko City in Russey Keo and Grand Phnom Penh in Chrang Chamreh, the limitation of new development space in the Chamkarmon district will have to ease demand. The focus of the city will likely shift too, as commercial and retail spaces also continue to push outside of Chamkarmon and the CBD.

A developer in Melbourne, Australia, who has built a 72-level tower in the central city, has failed to build the underground car parking promised in the original development plans. [caption id="attachment_79012" align="aligncenter" width="300"] Illustration: Matt Golding[/caption] The developer, the Brady Group, did not provide two of the three levels of underground car parking originally promised, causing the Melbourne City Council  to now consider what enforcement action it can take against the developer.Norman Fay, Brady Group spokesman, did not dispute the developer failure to provide the promised car parking levels when challenged. Mr Fay said an application to retroactively alter the development permit was now being considered by the planning department.Brady Group originally had obtained a 2009 developer permit off planning minister Justin Madden to build the tower, with just one level of underground parking, but later got an updated permit off Matthew Guy to proceed with three levels of underground parking. It is not clear who failed to check if the  building adhered to the updated permit but, regardless, the developer is in breach of their permit.Read more of the latest and greatest real estate news right here on realestate.com.kh

On the eve of Halloween, Realestate.com.kh has taken a quick look at the top 3 most haunted houses in the Kingdom!#3:Famously on the market for sale in 2013 in Siem Reap, this property attracted attention for all the wrong reasons. Let’s just say the Open Home Showing was not a huge success....#2: The oh-so eery Independence Hotel in Sihanoukville was put on the world stage when a travelling poltergeist proved locals were correct when they deemed it haunted!#1: Coming in at number 1,  immortalized in the Korean horror film, “R-Point”, this haunted palace known as the Bokor Hotel was built in the 1920’s and has frightened visitors ever since atop Bokor Mountain in Kampot - until it was eventually abandoned. Happy Halloween from Realestate.com.kh and we hope all your home’s stay ghost free...

Although the price of land in Phnom Penh has increased continuously until present, it has yet to have any detrimental effects on the flow of trade within the city. Quite the opposite; rising land prices have instilled confidence in the economy and encouraged foreign investors to come to Cambodia and invest their resources in the country, expanding trade and stimulating ongoing economic growth. While land prices are not on par with the region, this is not necessarily a bad thing, say experts. Chrek Sokny, CEO of Century 21 VTrust, said that in 2015 land prices had hardly climbed since the year prior, however, land prices in 2015 seem slightly higher when compared with 2013. He notes that, however, land prices in Phnom Penh vary depending on the region, with some suburbs seeing land prices increase up to 20 percent, whereas aggregate increases only reflect a 10 to 15 percent rise city-wide.      Sokny added, "The rise in land prices currently does not affect the flow of investment because the price of land in our country is a lot less expensive in comparison to neighboring countries." He continued, "The increases in the price of land of 10 to 20 percent are in line with the country’s economic growth, so it does not cause difficulty for new investors at the moment. But if it continues to rise in the next four to five years, that will hurt people who intend to invest in Cambodia."      Sorn Seap, spokesperson for the Cambodian Valuers and Estate Agents Association, raised a similar view to Sok Ny. Seap suggests that land prices are currently rising in line with economic growth because land prices generally rise or fall depending on the state of a nation’s economy.  It is clear that land in Phnom Penh has the highest value; Siem Reap and Sihanoukville follow respectively. He added that the current land price does not affect the flow of direct foreign investment into the Kingdom since there are still a huge number of investors coming into Cambodia seeking various opportunities - mostly from Japan, Korea, China, Singapore, Malaysia, Taiwan, China, Hong Kong and other regional counterparts. "Phnom Penh land price increases on average five to 15 percent per year. If it continues to rise, it will disturb the investment flows in the coming years because the market size of Cambodia, compared with the regional economy, is still small. Therefore, if the price of land were to become equal with regional prices, investors would naturally go to other countries where market opportunities are more profitable," added Seap. He continued, "I think we will be unlikely to see the impact of this phenomenon in the next five years, as the Cambodian economy is still not that robust. Investors both inside and outside the country only come in with a specific purpose and conduct detailed research before they start investing.” Sorn Seap concludes, "It's a real market now though, not an inflated one - because an inflated market would jam when there was a problem, and a real one wouldn’t." For instance, when the land price fell generally during the global financial recession in 2008, land prices along Mao Tse Tung Boulevard did not go down. In fact, in contrast, prices in this area continued to rise slowly. This is because transactions were still occurring along this street, marking it as a real and robust marketplace. “The increased price of real estate and land today is a good sign that we, as a national economy, are on the right track, and we won’t have a problem in the near future,” Seap confirmed. According to a study by World Trust Estate on the price of land in 12 Khans of Phnom Penh in the first quarter of 2015, Phnom Penh land prices have gone up between 10 and 30 percent depending on the area. The areas are defined by whether they contain commercial activities, residential property or industrial undertakings. Particularly, the commercial area along the main road in Khan Chamkarmorn this year has increased between $3,500 to $8,000/m2, compared to only $3,500 to $5,500 the previous year. Land in trade zones located along smaller roads have increased from $2,500 to $3,000/m2 last year, up to $2800 to $4,000/m2 this year. The same study found that the price of commercial land along streets in Khan Tuol Kork has increased from $3,000 to $5,000/m2 in 2014, to between $3,500 to $8,000/m2 this year. Commercial land along smaller roads have also increased to current prices of around $2,500 to $3,000/m2, compared to $1,800 to $4,000/m2 last year. Residential land has risen from $2,800 to $3,500 the year prior, to about $3,000 to $ 5,000/m2 currently. Soeng Bonna, CEO of Bonna Realty Group, said in a phone interview recently that land prices in Phnom Penh are divided into three zones: Zone 1 is the city centre, where land prices seem a little higher. Land price in the suburbs, Zone 2, are still moderate in terms of the size and strength of the economy, as well as incoming investment trends, but the price in these areas is lower compared to other countries’ examples. He said the average price of land in the city centre costs $3,000 to $5,000/m2, which is good, but lower than prices recorded in other countries. He notes that these prices reflect that it is harder to gain revenue and profit from an investment in land here in Cambodia. “Land prices in the neighboring countries are higher than ours, but they have bigger population densities, larger economies, and more investment. If we continue to think our land price is low and keep demanding an equal price, both domestic and foreign investors will lose their ability to invest in Cambodia," said Bonna. He added that prices of land in industrial zones, Zone 3, are ranging from $20 to $50/m2 which reflects the current lack of infrastructure in these areas. Realestate.com.kh is proud to support the CVEA's Property View publication. Click here to get your copy, or if you are interested to join the CVEA today. https://realestatekh.activehosted.com/form/40