Axis Residences is bringing a unique standard of quality to the Phnom Penh condo market. Already, whilst the Singaporean-inspired project is still under construction, Axis is becoming a pop culture icon among a new generation of Khmer's looking for their first home in central Phnom Penh. The Axis residences showroom, now open in Phnom Penh, is built to the exact specifications of the completed units, as per international standards. This authenticity gives visitors to the Axis showroom a perfect understanding of the look and feel of their new condo home-to-be. But not only are the Axis Residence's units impressing customers, with early sales off to a flying start, the sleek and contemporary design is also impressing Cambodian celebrities and film makers. Recently, the renowned film production company, Hong Meas HD TV, has been using the Axis Residences showroom to film various drama series and movies. The directors and producers of these productions are well-aware that the younger generation of Khmer are craving a higher standard of living, and a taste in design style that the market currently sorely lacks. Because the Axis showroom epitomizes the style and quality that the new generation of home buyers are craving, and feature brand name appliances and fixtures throughout, it is only natural that Axis Residences should be the ideal location to film these popular films and drama series. Spring CJW, the renowned Singaporean development company behind Axis Residences, however, is well-aware that many younger Khmer interested in purchasing their first condo home currently lack access to sufficient finance to make such a dream a reality... With that in mind, Spring CJW has created a very attractive 15 year end-financing package in partnership with Phillip Bank, uniquely designed for their customers. As the payment schedule for this loan is based on each construction stage, off-plan buyers will only have to pay as each stage of the development is completed. The Partnership between Axis Residences and Philip Bank The Phillip Bank loan package, available to Axis Residences buyers, only charges interest for the amount that is supposed to be paid. For example, if the sub-structural phase of construction is competed, just 10% has to be paid to the developer by the end-buyer. This means that customers who purchase via the Phillip Bank loan will only need to incur interest for that initial 10%. This is not a common practice at all in Cambodia, as most projects will charge the loan interest on the full sum owing, and few banks are willing to support condo buyers. Not only that but, again uniquely, the principle sum for the Phillip Bank loan will only be payable at the completion of the Axis Residences project in its entirety, which is around 2 years later. Customers who use the Phillip Bank loan option will thus be looking at only around a $90 installment payment per month for the first year. This is not only affordable for young buyers, but acts as a guarantee that the project is completed to the promised standards, in the promised timeframe. Although this is Spring CJW's first condo project in Cambodia, they have entered the market to stay - and customer-friendly initiatives such as this are a testament to that! At Axis Residences, younger buyers are offered a chance to secure a state-of-the-art home on finance terms that they can genuinely afford. This is a golden opportunity for young couples to own a new home with a lifestyle that will be the envy of their peers for many years to come. If you would like to learn more about Axis Residences, click HERE to check out the full listing on Realestate.com.kh today. Inquire directly with Spring CJW and join their friendly and knowledgable property consultants right here in Phnom Penh for a tour of the famous Axis Residences showroom. Don't forget to bring your camera! Click HERE to request an information pack today!

An Opinion piece from Mr Sim Hoy Chhoung, ceo of V Trust Appraisal Co. Ltd.As the banking sector is growing in order to fuel the mortgage and collateral-based lending industry, so is the potential concerns over the property valuation standards and risk management systems currently in place in the Kingdom’s banking sector. The global financial crisis, which led to real estate bubbles across various countries around the world, offers a good lesson to explain the current concerns.Industry leaders agree: a risk analysis should be carefully taken into account. This was the suggestion of Mey Vann, director general of the Department of Financial Industry, Ministry of Economy and Finance, as cited by the Phnom Penh Post on 19 August 2015, one day after the inter-ministerial seminar on “Opportunities and Potential Risks in Developing Cambodia’s Property Sector” at Cambodiana Hotel. The 2008 global economic crisis, which impacted Asia and Cambodia, offered a lesson that “we must not let happen again,” he said.But how can we curb the potential risks associated with mortgage and collateral-based lending? From my experience, compliance to standards and professionalism in property valuation is one of the best ways to help mitigate the risks associated with loan defaults that could potentially lead to a wider market financial crash. The Royal Institute of Chartered Surveyors (RICS), one of the world’s most well-recognized organizations, representing professionalism and ethics in land, real estate, and construction appraisals, stresses that accurate and professional valuations are vital to a healthy property market and a stable economy, forming the basis of performance analysis, financing decisions, transactional or development advice, dispute resolution and taxation. However, not all banks in the country comply with valuation best practices and standards. While all would consider property valuation as a crucial part of any risk assessment, not all of them have clearly-defined measures to ensure compliance, often deciding to offer contracts to valuation partners that are not independent, and do not enforce professional and ethical codes of conduct, or lack professional indemnity insurance coverage. This sentiment has also been echoed elsewhere. While many of the banks seem to forget the potential risks, officials advise that property valuation firms should not be biased or under any influence that could cause an unfounded value inflation or deflation of the subject property. Kim Vanda, director general of Banking Supervision of National Bank of Cambodia, said, in the same seminar, that the malpractice could potentially pose risks to the banking industry as a whole, adding banks that have in-house valuation units should also use independent valuation firms to ensure that the appraised values of the subject properties are reasonably concrete and consistent. To ensure a healthy property and banking sector, an understanding of the weaknesses in the valuation process could help. The Central Bank of Ireland issued the December-2012 study report entitled “Valuation Process in the Banking Crisis – Lessons Learned – Guiding the Future” identifying three overriding areas of primary weaknesses in valuation processes during the boom lending years. First, a weakness could come from an inaccurate or inappropriate definition of valuation requirements by credit institutions, thus leading to a subsequent inadequate assessment and understanding of valuations.Second, it could be the result of inadequate valuation processes and standards, or a disregard for adherence to such processes.Third, the weakness could also be the result of a lack of appreciation of the significance of the valuation document as independent evidence of risk mitigation effectiveness. Many bankers did not fully regard the importance of independent valuations and the valuation reports as a key document underpinning the basis on which they were acquiring the risk. Besides identifying the overriding areas of weaknesses, the study also highlighted a number of critical issues that credit institutions should pay attention to in the property valuation process - such as the issue of conflict of interest, valuer panel management, and inappropriate use of informal valuations. In many instances, lenders would accept existing valuations that had been prepared by valuers on behalf of the borrower, not the credit institutions. In this case the study recommends that the valuers’ duty of care is to the credit institutions and this should be emphasized by credit institutions in their written instructions to valuers in accordance with its clearly defined terms of engagement. Valuation reports should always be addressed to the credit institutions that is advancing the loan funds to avoid any complaint or manipulation between valuers and borrowers or owners of the property. When it comes to valuer panel management, the study identified some weaknesses in credit institutions practices including the appointment of valuers without sufficient qualifications, without any evidence of sufficient professional indemnity insurance, with inadequate or no review of panel members’ performance, or on the basis they are a customer of the bank. In sum, to create a healthy financial environment, banks should comply with valuation best practices and standards. Two of the most credible standardized valuation systems advised by the study report are the International Valuation Standards, known as the White Book, and the RICS valuation standards, known as the Red Book. Although the study report seems to stress more on experiences and applications in settings outside of the Kingdom, it does not make any difference since globalization has made almost all the world’s systems into ‘one’ that applies for all and, more importantly, all central banks should be subject to the Basel Committee on Banking Supervision which should incorporate best banking practices into all standards. That said, the country’s valuers association is also working to benefit the industry. Cambodian Valuer and Estate Association (CVEA), which represents the country’s valuation and real estate industry, has taken measures to set minimum valuation fee charges for the industry. The minimum fees should help prevent valuation firms from competing on fees and in-turn compromise the quality of the final appraisal. Sim Hoy Chhoung is the chief executive officer at VTrust Appraisal Co., Ltd. The views and opinions expressed in this article are those of the author and do not necessarily reflect the official position of VTrust Appraisal Co., Ltd.

Coming to the Cambodia for its pioneering launch, the Cambodia Property Awards 2016 is set to be the most recognized and credible industry awards ever to be hosted in the Kingdom, with the hottest names in real estate gathering together on Thursday, 26 February, at the prestigious Sofitel Phnom Penh Phokeethra. Nominees for the awards were announced this week, and include some of the country’s most renowned developers and developments. Shortlisted companies at the Cambodia Property Awards 2016 now bide their time until the announcement of winners at the black-tie gala dinner and ceremony on 25 February at Sofitel Phnom Penh Phokeethra. Get your tickets today!The full shortlist of the Cambodia Property Awards 2016:DEVELOPERBorey Peng Houth GroupOverseas Cambodian Investment Corporation Ltd (OCIC)DEVELOPMENTBest Condo Development (Central Phnom Penh)De Castle Royal by Nuri D&C Co LtdEmbassy Residences by Urbanland Asia Investment Co LtdOlympia City by The Olympia City DevelopmentSkylar by MeridianTK Royal One by TC Royal Manor Co LtdBest Condo Development (Greater Phnom Penh)Axis Residences by Spring CJW Development Pte LtdBodaiju Residences by Torreya Asset Holdings Co LtdBest Housing Development (Phnom Penh)Elite Town by Elite Town Development Co LtdGrand Star Platinum by Borey Peng Houth GroupOrkide Villa The Grand, Phnom Penh, Cambodia by Orkide Villa Co LtdBest Mixed-Use Development (Cambodia)Olympia City by The Olympia City DevelopmentTK Royal One by TC Royal Manor Co LtdBest Hotel Development (Cambodia)Courtyard by Marriott, Siem Reap by Grand Lion GroupBest Serviced ApartmentMaline by maline Apartments Co LtsDESIGNBest Residential Architectural Design (Low-Rise)Bodaiju Residences by Torreya Asset Holdings Co LtdGrand Star Platinum by Borey Peng Houth GroupOlympia City by The Olympia City DevelopmentStreet 240 by Street 240 Development Co LtdBest Residential Architectural Design (High-Rise)Embassy Central by Urbanland Central BKK Co LtdEmbassy Residences by Urbanland Asia Investment Co LtdTK Royal One by TC Royal Manor Co LtdBest Hotel Interior DesignCourtyard by Marriott, Siem Reap by Grand Lion GroupNote: The winners of the ‘Best of the Best’ awards for Best Commercial Development (Cambodia), Best Residential Development (Cambodia) and Special Recognition in CSR will be revealed during the awards gala. In addition to the award categories, property and e-commerce Oknah Rithy Sear will be presented the Real Estate Personality of the Year award by the editors of Property Report. More information on the inaugural Cambodia Property Awards are available on the website.Early bird tickets for the gala dinner are offered until 29 January only. Sponsorship and partnership opportunities are also available. For details, call +66 (0) 2662 5195 or email info@asiapropertyawards.com.

While expats and wealthy Khmer alike scramble to properties in the highly desirable Chamkarmon, Realestate.com.kh looks to Toul Kork: a highly underrated and competitively priced location for expats moving to Phnom Penh.Anthony Perkins, director of special projects, finance & investments at the Royal Group of Companies, says that, "If you have a family and are not particularly concerned about your travel distance to work, Toul Kork should definitely be considered as a prime place to find a home for rent or sale."Perkins notes that Toul Kork "appears to have far less electricity cuts than other parts of town, and the various "Boreys" (gated communities) dotted around Toul Kork also offer security and a guarantee of no ongoing construction adjacent to your house." For those choosing to live in BKK, you can safely bet your bottom dollar construction noise will become a part of your life... There are a host of schools in the Toul Kork area also, including international standard offerings, catering to all budgets and student age groups. Entertainment and shopping venues are also well respresented in Toul Kork, with the highly popular TK Avenue shopping plaza & surrounding area cinema/restaurants."Toul Kork is often a forgotten Khan for expats, but it shouldn't be," says Perkins, "particularly for those with a family." For expat renters, a decent 3-4 bedroom house can be secured in Toul Kork for under $1000 per month, with security provided, communal pools/gyms and the rarest of rare in Phnom Penh: wide pavements to walk on and trees!Interested in Toul Kork? Search from thousands of properties on Realestate.com.kh now!

You have enough in the savings for a down payment. You have been pre-approved for a home loan. Now it is time to start looking at houses. Before you do that, you need to think a little more about what kind of house you need and want.Most first time buyers in Cambodia choose a detached house with land in the suburbs. This was well suited to first-home buyers in the past because housing was generally less expensive than it is currently and transportation to and from major urban centers such as Phnom Penh was also less of a problem. These days, however, costs are generally higher and life is more complicated.  In response to a changing world, the housing market has diversified in Cambodia. This opens up more options, but it also means the first time buyer has to do a little more thinking about the kind of property that will work best for them. With this in mind, Realestate.com.kh has thrown together a guide to choosing your first home! Tips On How to Think About This Question: First and foremost, try to let go of the idea that a detached house is necessarily "best" property type for you! Instead, think of this as an apples to oranges comparison. If you think that a detached house is "best" property type, then you will think of other options as inferior simply for being different. This is very likely to lead to disappointment, especially if budgetary constraints are a large factor in your home-buying decision.Instead, stop and make a list of lifestyle choices, tailored to you and your families life. Try answering some of the following questions before you read any further. Then evaluate different housing options in light of how well they fit your unique needs, rather than how they compare to a detached house on a suburban estate:Do you have children?Do you want children?Do you have or want pets?Do you own a car or do you prefer walking, bicycling and taking public transport?How close do you want to be to your job? Once you answer these questions, look through our general overview of what property type might be good for your needs. They are the following:1. Detached houses/Villas on a suburban estate:Good points:Houses like this, whether inside or outside a borey community, are typically relatively spacious.You have your own yard, which is great if you have children or pets.Boreys generally nurture community life - and have common areas for you and your family to enjoy time spent with neighbors.Price per square foot is relatively low for this kind of property type in Cambodia.There is a good supply of such homes, and the market is seeing more and more coming online in the next few years.Buying pre-construction or off-plan means you can get a better deal as an early-bird buyer.Detached homes have good privacy from their nearest neighbors.Bad points:You will need a car if you plan to work in the city, which drives the cost up in real terms for this property type.Nosy neighbors in a suburban estate may pay more attention to you than neighbors in the city, thus reducing your actual sense of privacy, despite the extra space.It can be a long commute to work - this will ultimately affect your life in many ways - and lifestyle considerations can be as important as costs.Some people see maintaining their garden/outdoor areas as a burden.If you secure hard title, you get the benefits of owning land, and a fairly safe investment for resale appreciation.2. Duplexes or row houses.Good Points:You will still have a yard, albeit a bit smaller with this property type.The yard's small size reduces the amount of maintenance it requires.They are typically more affordable than a detached house.You will not have additional fees as you tend to have with villas and apartment homes.If you secure hard title, you get the benefits of owning land, and a fairly safe investment for resale appreciation.Bad Points:Shared walls with neighbors can be a source of noise.They tend to be small, so might outgrow it if your family expands.You still have yard work to do.3. Centrally-located Townhouses:Good points:Shorter commutes are common with this property type.They are often more affordable than detached houses, row house and duplexes.No need for landscaping. You don't have to mow a lawn or clean a pool.If you secure hard title, you get the benefits of owning property in the city, and a potentially highly profitable investment for resale appreciation.Bad points:They can feel cramped, and often lack natural light.Lack of parking.There are additional fees and restrictions on what you can do with the property.Their value tends to increase more slowly, making them less of an investment property.4. Apartment unit in a smaller, lower-standard building.Good points:They are typically close to the central business district, giving you easy access to shops and restaurants.Easy access to public transport.No need to maintain a garden.Shorter average commute to work.Generally, co-owned buildings are secure.If you are a foreigner, you can still own if strata titles are available.Bad points:Additional fees can be incurred within the apartment management policy.Cost of repairs is shared by the owners of the units.They tend to be small. If your family grows, you may quickly outgrow it.If you want pets, the owner may not allow this.If you don't get on with your neighbors, you have no-where to hide.5. A high-rise condo unit in the urban center:Good points:Extremely short commutes and good access to public transit.You may be able to live without a car, thus making this choice more affordable than it may appear at first glance.On site amenities may include spas, pools, gyms and cafes. These offer a unique lifestyle, compared to non-communal arrangements such as villas and detached homes.These units have good availability in urban areas, and the supply of condo units in Phnom Penh is rising extremely quickly.Amazing views and fresher, cooler air.No garden maintenance to do.Now that strata title is available, even foreigners can own a condo.Bad points:Potentially much lower appreciation than a landed property.Additional fees to pay for maintenance and management.If you are afraid of heights, this is not the home for you.If you love to garden, this is not the home for you.Depending on the size of the condo unit, you might not be able to house the extended family.Different properties appeal to different buyers. The best property for you depends on details about your life and the lifestyle you want to have.If you have an established family or plan to start a family soon, having space both indoors and out may be critical to your decision. In which case, a detached house, villa, row house or duplex may be ideal, assuming you can afford it.If you are young and carefree, being closer to amenities and freed up of maintenance responsibilities may have more appeal. Living close enough to walk to pubs and restaurants can free you up to have a drink without worrying how you will get home safely. For people who love the nightlife, this can mean that an apartment or condo unit close to the CBD is ideal. Got a loan? Learn how to pay back your mortgage faster at Realestate.com.kh now!

The National Committee on Management and Development has halted construction along Sihanoukville’s Otres Beach and also announced that some existing buildings will be demolished.The news comes as the Royal Group's proposed construction of a port on Otres Beach (to support development on Koh Rong) was abruptly halted this week, under order of the government.  According to Neb Samuth, Tourism General Director, in a recent Khmer Times report, Otres Beach has been selected by the ministry as a model case for ensuring that bays and beaches remain environmentally friendly. This protection is being implemented in order to encourage more domestic and international tourists to the coast of Sihanoukville and its islands. Samuth went on to say that a “Coastal Master Plan” is likely to get approval from the Ministry of Tourism and other government ministries in the middle of this year. Other fresh news on realestate.com.kh, Cambodia's #1 Real Estate news source: Chroy Changvar plot, open for bids & Property Registration Fees Waived for Family Members

These days, many potential property buyers in Cambodia use the internet and social media to search for properties... Hence, their very first impressions of a property are made from the photographic appeal of the real estate listing. As an agent, you tell your clients about their property's "curb appeal", and ask them to clean it up and make their property look more attractive to prospective buyers when it comes time for inspection. But, who is responsible for the online appeal? The agent has one chance to impress the potential client with a listing. You need to grab their attention in the first 20 seconds before they skim over your listing and move on to the next property listing. So, while the owner needs to clean the house - you, the agent, better keep the listing crystal clear. Even with this knowledge, most real estate agents are happy to take the listing photographs themselves. The photographs are sometimes grainy, walls and floors are tilted, colors are off, reflections of the agent appear in the walls and mirrors, and rooms are not made camera ready.The result? That newly renovated colonial apartment looks dark and dingy instead of warm, cosy and inviting.  That beautiful, breathtaking view over the Tonle Sab River is just a bright white burst of light. This is not the first impression that any property seller wants to convey.These sort of photographs may hurt a property as the potential buyer will more likely skip over it in favor of another one which grabs their attention.HIGHER PRICES: There are studies conducted in the US real estate market which indicate that property listings that use professional photography tend to sell for higher prices. MORE APPEAL AND ATTENTION: When high-quality photographs are used on the listing, they will help grab the buyer's attention, giving the listing more views and exposure. When the listing is viewed more, more potential buyers are having a closer look at the property. A buyer may be lost as they skim past a listing using low-quality photographs. In this competitive market, having a listing with more 'pop' will give your listings a distinct advantage over your competitors.WE HAVE THE TECHNICAL KNOWLEDGE AND EXPERIENCE: A professional real estate photographer has the experience and technical knowledge to photograph and show a property at its very best. We use composition and editing techniques, as well as lighting, to help grab and focus the buyer's attention on the property's primest selling points. Professional real estate photographers have spent countless hours practicing and refining their skills and techniques. We are on a continual learning process to bring out the best in a property that we possibly can. Many agents have bought expensive cameras and the use "Auto" mode to take their listing photographs. Just owning an expensive camera does not make one a good photographer. You need to be able to see the best composition and have an array of techniques at your disposal as each photograph is different. This only comes after years of experience, practice, and learning.With that in mind, contact Bruce today from BDV Photography for a free quote on your next property photo shoot: bdv@bdvphotography.net Want to see real life samples of photos taken by agents, browse through our list of properties up for sale and rent now!

On the heels of its first housing development success – Embassy Residences, which has sold 90 per cent of its units – local developer Urbanland is wasting no time in establishing its second project, Embassy Central. Being at the pulse of Boeung Keng Kang 1, and within strolling distance of renowned restaurants like Topaz Restaurant, Malis Restaurant, and Eric Kayser Bakery, with retail stores along the nearby Preah Sihanouk Boulevard such as Charles & Keith, Pedro, and Mango, and more cafés and bars interspersed around, there is no area more bustling and convenient than where Embassy Central is located. Thriving hub aside, Embassy Central itself is a building to behold; its discreet brilliance is reflected through its minimalistic and sleekly structured design. Only 25 storeys tall and 119-unit strong, Embassy Central holds its own in dedicating its composition to the importance of an urban lifestyle that is in sync with modernity, yet maintaining a green lifestyle with its outdoor landscape features. Check out the full Embassy Central listing today on Realestate.com.kh! With only 119 units, Embassy Central has a more private and intimate feel, with four sky gardens in different parts of the building that residents can fully utilise to their liking. These open spaces provide a tranquil respite from the hustling bustle of the city; spaces where you can exercise or do yoga amidst the rising or setting sun, sit and read a book by the trees, or simply bask in the crispness of the air. Besides its multiple sky gardens, another distinctive feature of Embassy Central is its vertical green wall garden that runs through the building from the 4th floor to the 25th, with the main purpose of brightening up usually enclosed hallways with natural sunlight. The condominium’s swimming pool is surrounded by lush greenery, as it is on the same floor where the vertical garden begins. The impressive architecture of this condominium comes from the same masterminds behind Cambodia’s most popular coffee chain – Brown Coffee. The same attention to detail, quirky steeled structures, and top-notch finishing seen in all Brown Coffee outlets across Phnom Penh are mirrored in Embassy Central’s building and showroom. Hok Kang Architects, who wholly designed Embassy Residences and Embassy Central, and are also the people behind Urbanland and Brown Coffee, aptly sums it up: “Embassy Central is a very special project for us. We want to design a building that responds to a hot tropical climate such as Cambodia. Vertically designed elements and oversized balconies help to shade the building from the harsh tropical sun. The building is punctuated by pockets of green gardens, giving it a more iconic architecture, and also its residents a more liveable space that is close to nature. Upon its completion, Embassy Central will be the emblem of contemporary urban living at its finest in the heart of BKK1.” Urbanland and Hok Kang Architects comprise a small but diverse team, and being local adds value and trust among Cambodians – that a relatively small developer is able to bring to the Kingdom international standards of ideas, design, and product. Urbanland is committed to investing in its home country, and seeing it thrive as an urban cosmopolis. The company prides itself on catering as much as they can to their niche clientele’s needs, offering interior design services or suggestions that will complement the overall flow of the building units’ designs. Embassy Central’s showroom is fitted with high-end furnishings, with cleverly streamlined storage spaces and enclosed air-conditioning, while everything that is attached to the walls such as the lights, cupboards, console table, and appliances come together with the unit. Singapore investment firm, Terrasia Capital Investment, has said that the quality of interior fittings and finishes is a game-changer that sets a very high benchmark for other developers to follow. In Urbanland’s Marketing Manager, Victor Huot’s words, “what you see and feel in our showroom will be the same experience you will get when you walk into your Embassy Central home.” “The most prestigious address in Phnom Penh, crafted with design and high-quality materials, Embassy Central is a gem of investment that will only increase in value over time,” Terrasia Capital Investment concluded. Check out the full Embassy Central listing today on Realestate.com.kh!

Phnom Penh: According to a recent report from the Phnom Penh Post, the government has undertaken a private design competition to select a new development project to be situated on a 14-hectare plot on Chroy Changvar peninsula alongside the Sokha Hotel. The plot of land set for development is a prime location, facing the main city riverside on Chroy Changvar. Although owned by Sokha Hotel, the group's own development design plans were not granted approval from the necessary ministries and have since been rejected.  13 different development companies have bid the Government for the rights to the project, but now the group has been reduced to five: including international developers from Malaysia, Korea and Singapore, as well as two local Khmer firms. The committee is set to resume on January 25 in order to narrow the current list down to three candidates. Supposedly, an official announcement of the project winner will come by mid-February this year.

Phnom Penh:  Mr. Kim Heang, president of the Cambodian Valuers and Estate Agents Association (CVEA), has urged the government to regulate property transactions in the upcoming Management Law and educate private property sellers as a means to control market price fluctuations running out of control in 2016. The initiative would mimic the US model in theory, making all property sellers bound to use a registered real estate company in order to sell their property. The proposal is intended to control the unfounded price hikes throughout the local market, and ultimately stem speculative fluctuations in aggregate market prices. More accurate property valuations would lead to a more sustainable market place, and grant local and international investors greater confidence to buy in. “Nowadays the property owner can easily make their own 'House for Sale or Land for Sale' sign,” says Heang. “Generally, when a private seller attempts to sell their own property, however, the price they seek in 30 to 50 per cent higher than market value.” This makes it very difficult to buy and sell, Mr. Kim Hang added, and creates unfounded speculation in the market. Hence, the CVEA is calling the Government to educate the market to these problems before they create the new Management Law. Mr. Kim Heang’s solution to these speculative bubbles from private sellers is to regulate that “all property owners should sell their property via the consultation of a registered real estate agency.” This will allow selling prices to better match the market price. And in doing so, will ultimately control real estate prices running out of control, and make the market more stable and sustainable, suggests Heang. Heang also added that “in many other developed economies, the real estate market management law demands the owner sell their property via an expert real estate company for this reason.” Mr. Bo Eavkong, general manager of the Asia Real Estate company, said that real estate companies currently have no right to force the property owner to consult with a real estate company when deciding their property value. "The first step is the Government educating people and urging the property owner to seek guidance from real estate professionals and trained valuers. Gradually, then the real estate sector will strengthen in terms of professional ethics." He added that, “if they want to sell their property for a reasonable price and sell it, they only need to spend 160$ for the fee of the expert real estate valuation. Meanwhile, selling over the market price is much more difficult, stalling the market,” says Bo. Mr. Khom Monyroth, consultant manager of Daily Realty Group, has agreed with what Mr. Bo Eavkong said, adding that education is a good start. “Even if the property owner studied the real estate prices of 4 or 5 other similar properties in the same area, they will automatically have a better understanding of the price at which their property will most likely sell for.” He also said that any “announcement or education won’t take effect immediately. Still, serious real estate investors must contact real estate agents if they want to succeed in the market. If you consult with a real estate company, you will understand that it is impossible to sell your property too much over the market price.” Stay tuned to realestate.com.kh news for more on this topic as the situation develops. Learn more about property registration, Cambodian land titles, strata title transfers andforeign ownership regulation on Realestate.com.kh today!

Last Saturday’s official D’Seaview groundbreaking ceremony was a great success, with over 200 honorable guests assembling at the construction site to celebrate the physical launch of Phase 1 of the project. The event was presided over by H.E. Yun Min, Governor of Sihanoukville province, and following the groundbreaking ceremony, a complimentary lunch was provided for all satisfied guests at the Sokha Hotel and Resort, Sihanoukville. Check out the full D'Seaview listing information on Realestate.com.kh. Already, a host of eager buyers are proud to gain the status of first movers for this momentous development. In the first phase of sales and booking, already over 80 percent of the 300 units in phase 1 have been successfully subscribed by both local and international buyers at price per square meter ranging from $1750 to $2200* *(updated October 2016). As stated by Dr. Wang Kai Yuen, Chairman/Non-Executive Independent Director at the D’Seaview Condominium Ground Breaking Ceremony on Saturday, “After the launch of Camhome’s unique queue system in September 2015, we have received more than 1,000 clients interested in this development and our upcoming developments. I believe more are coming, as Sihanoukville is one of the promising provinces in Cambodia, especially during the ASEAN Integration.” Nevertheless, as sales continue to expand, premier sea facing units and commercial opportunities are still available to buyers in the D’Seaview complex. But, those interested in these prime positions are urged to secure these units before they sell out! Further, a special “sure-to-win instant lucky dip” is being offered throughout the month of January to award attractive prizes for new buyers who purchase a D’Seaview unit at exclusive, off-plan prices. “Having accumulated more than 25 years of experiences in the design, construction and management of property developments in Singapore since 1988, D’Seaview will incorporate the latest in construction methods and modern building management concepts from Singapore,” said Dr. Wang Kai Yuen at the groundbreaking. The guaranteed quality of the D'Seaview project pays tribute to HLH group’s experience in the field of creating premium residential developments. The use of precast panels will allow for a smoother and more consistent finish throughout the complex; hollow core precast panels also allow service connections to be hidden within the wall therefore minimising the need for hacking and plastering or exposed ductworks; quality international standard fittings and fixtures will be used throughout, along with homogenous floor tiles, safety glass ( for windows which extends below 1m height), and a safe and quality assured elevator system; wall tiles to wet areas come standard, and beautifully-crafted roof terraces are provided for selected units; finally, all bathrooms have windows to allow for natural light and ventilation, and all enclosed kitchens have windows for ample ventilation. The design of D’Seaview likewise harks to the developer’s unique understanding of what creates an attractive and highly livable residential development, while concurrently paying tribute to the unique environment of Cambodia’s lush coastline. Naturally lighted and ventilated corridors, via cross ventilation, ensure a high level of comfort in all common areas within D’Seaview. As importantly, your new home will be a safe haven - with a high level of security via separate commercial and residential car park levels, card access and an integrated intercom service. Residential units will enjoy unrestricted sea views through design thanks to D’Seaview’s efficiently shaped floor plans. Prime units also include spacious balconies for outdoor enjoyment. Luxurious amenities shall fall at your doorstep, with subscription facilities such as a pool cafe, swimming pool, kid's room, yoga room, library, and fully equipped function rooms. Further, the complex will bring a level of convenience previously unknown to residential developments of Sihanoukville. Commercial lots will house a bank, childcare facilities, a hotel, restaurants, food court and mini market, all within easy reach of residents. Realise your housing and commercial dreams now; and visit Camhomes’ D’Seaview showroom at Canadia Towers and talk to their property consultants.Check out the full D'Seaview listing information on Realestate.com.kh.

Due to cheap labor, social and political stability, and incentive policies to attract FDI - especially in the construction industry from the Government -Cambodia has become a choice target for foreign property investors. Besides financial institutions, textile, and other manufacturing industries, the real estate market in Cambodia now is a lucrative market for property investors. Investors view Cambodia as an emerging country with a large potential economy. Within the next three to five years, it will develop its infrastructure beyond recognition; transportation, roads, energy and water together with financial institutions. The Cambodian real estate market is massively shared by the Asian region states such as the Chinese, Taiwanese, Japanese, Korean, and Singaporeans. Taiwanese however has become the top buyer in most major condominium projects in Phnom Penh such as Baily, Suncity Bassac and many more. As the local property market in Taiwan is slowing down, the number of real estate sales agencies in Taiwan is increasing hugely. Sales agency offices are also shifting their current operations toward Cambodian based real estate investments, according to The China Post. This new focus offers the Cambodian real estate market a chance to grow and extend the market to such regional property investors, as Cambodian property offers reasonable prices for these types of buyers.   As a result, Century 21 Cambodia is organizing another collaborative trip to Taiwan on the 17th of January 2016 to share the practical Cambodia market situation with Taiwanese property investors and to build a strong network between Century 21 Cambodia and Century 21 Taiwan. Check out Century 21's listings on realestate.com.kh today!

Yong Yap Properties have officially moved into their riverside office...And it is a beauty! At this momentous juncture, the Yong Yap Properties team would like to say thank you to all their valued and loyal clients for the support over the years. It is an exciting time for the Yong Yap Properties team and the new office will be their home base for the coming years.The new address is #95A st 118 cnr st 17 - but phone numbers are still the same 023 223 712 / 017 400 700.The Yong Yap team look forward to seeing you all shortly!And don’t forget to check out Yong Yap Properties’ listings on realestate.com.kh today.

Home security is something everyone should consider if they are living in Cambodia. Just a little bit of forethought and preparation can go a long way towards protecting your home, your assets and, most important of all, you and your family’s well-being.With the theme of home security in mind, Realestate.com.kh spoke with Mr. John Muller from Global Security Solutions Co., Ltd  (GSS) Cambodia to shine some light on the best ways to protect your home or place of work. BEFORE buying or renting any home or business premises, consider whether it is a security risk: Muller recommends calling in security experts to make a risk assessment of your new home and surrounding area.  “Is your home in a high crime area?” - ask this question before it is too late. “Is there is construction near your home?” Muller suggests that if this is the case, you need to be far more vigilant of your home security.   Construction workers generally receive low wages and are experts at installing or removing doors, windows, etc.  They also have plenty of time to survey your movements, and learn when the best time is to strike your home.MONITOR who enters your home or business closely:Muller suggests that conducting background checks on domestic staff and drivers is essential to maintaining home security. These are the people who you trust to come into your home, so you need to know that they are not a threat.    Establish specific protocols for your domestic staff such as never allowing vendors to enter your home without getting authorization from you first.   Muller gives the example of a maid allowing a TV cable company “representative” into your home without your prior permission.That person then plants drugs, etc, in your home out of revenge for a business conflict; or, alternatively, steals something while inside the house. “By allowing unauthorised entry, you are putting your home security at risk.” If you choose to hire a security guard, do some homework on that security company, their training programs, policies and directors. There have been many cases of local security companies being established by former criminals, says Muller, and this includes expat management.Use TECHNOLOGY to boost your home security:Investing in electronic security systems is highly recommended by Muller because relying on guard manpower alone makes you prone to many problems. Ultimately guards are human, and humans can fail! Electronic systems such as motion sensors, burglary and fire detection alarms linked to high decibel alarms are a good investment. These can be linked into central monitoring stations (CMS) manned by operators 24/7, and supported with armed response teams and close connections with police in the event of a break-in.Installing strong perimeter lighting is also important for business and home security. High resolution cameras are a great crime deterrent too. For perimeter protection, Muller recommends installing electrified fencing to prevent trespass.  This has become very popular and cost effective in defeating crime. Keep vegetation close to your perimeter cut short, recommends Muller: “It’s especially important to remove trees that are next to your perimeter fence. Criminals often use trees as ladders to trespass.”Be wary of KEYS:Replace keyed locks to vital entrances of your home or business with fingerprint readers with numerical code passwords. Keys are extremely easily copied and professional thieves can easily defeat most keyed lock devices.Don’t forget to consider FIRE SAFETY in your home security plan:Most homes and apartments in Cambodia have barred windows. Make sure that on each floor there is a way to escape via a locked hatch in case of a fire. The keys for this door can be hidden inside the window in a box not visible to thieves.   While you are at it, keep an updated list of your family, relatives, hospitals, fire department and the local police precinct contact numbers posted at several places in your home. If you wish to find out more about designing your own home security plan in Cambodia, contact the team at GSS today on 023 992 156

Welcome to another Realestate.com.kh Dream Home Report.Every week we will showcase some of Cambodia and the world’s most luxurious, interesting and unique properties. We want to show you the home gems of the International property market. This week we show you a home with a superstar legacy.David Bowie’s Caribbean island retreat has apparently been sold to an unknown buyer, according to a recent report from Domain.Rock legend Bowie died at the age of 69 at the start of this month.Bowie once used the island villa as his private getaway home throughout the 1990’s, with its own personal pool and wet bar. Recently on the market for an asking price of $20M, the five bedroom mansion is now under-offer – suggesting it has been snapped up by a savvy buyer who understands the potential appreciation value now the Bowie has passed. The Indonesian inspired villa home on the private island of Mustique was built as Bowie’s private getaway in 1992. The lush house overlooks the Caribbean. Check some more Dream Home reports here:Dream Home Report : Unique Khmer HomesDream Home : Song Saa Private Island Villa

D’Seaview brings Sihanoukville’s first fully integrated residential and commercial mixed development, located alongside Sihanoukville’s most beautiful beaches.With its twin towers standing at 28 storeys each, D’Seaview will bring a collection of premium executive condominiums, commercial units and a hotel to Sihanoukville’s pioneer integrated living complex.D’seaview’s waterfront location, close to Sokha beach, remains idyllic, yet the vicinity is overflowing with international and traditional Khmer dining, bars, discos, night markets, spas and shopping plazas. The official D’Seaview groundbreaking ceremony will be held at the development’s building site on Saturday, 16 January, to celebrate the physical launch of Phase 1 of the project. All are invited by Camhomes to witness the occasion and join the festivities, starting from 8am onsite. The event will be presided over by H.E. Yun Min, Governor of Sihanoukville province. Following the groundbreaking ceremony, a complimentary lunch will be provided for guests at the Sokha Hotel and Resort, Sihanoukville. In addition, Camhomes is offering a special “sure-to-win instant lucky dip” to award attractive prizes for new buyers who purchase a D’Seaview unit in the month of January. The development, encompassing 735 residential units, offices and hotel units, is slated for completion in an estimated 28 months. D’Seaview will give its residents a level of convenience that only a mixed use development can offer: living and shopping at the highest standards in the same building. Not only can residents live, work and play within the complex, investing in a mixed development with both commercial and residential owners, and tenants offers a unique hedge against future inflation, assuring appreciation for your asset. D’Seaview’s integrated hotel is also open to bids from investors, as well as local shophouse-style blocks that are targeted at Cambodian retailers who would like to set up their business as well as live within the complex. The resident’s lifestyle will reflect the quality of D’Seaview’s design concept, and already buyers are proud to gain the status of first movers for this momentous development. In the first phase of sales and booking, already over 80 per cent of the 300 units in phase 1 have been successfully subscribed by both local and international buyers at price per square metre ranging from $675 to $1943. And it is no surprise that Cambodians and international investors are increasingly looking south for new property investment opportunities. Cambodia’s southern coastal resort town, Sihanoukville, is not only one of the nation’s premier tourism destinations, known for its tranquil beaches and idyllic islands, but it is also the fastest growing commercial city outside of Phnom Penh. Sihanoukville is Cambodia’s coastal economic hub and is growing faster than ever; it is host to the nation’s sole deep-sea port, the largest Special Economic Zone, as well as a large scale oil and gas industry soon to commence extraction. As Sihanouk province grows in popularity, more flight and bus connections are being established, linking it to the rest of the country and region. Sihanoukville International Airport now operates flights from South Korea, Singapore and China, as well as daily flights to Siem Reap. Realise your housing and commercial dreams now; and visit Camhomes’ D’Seaview showroom at Canadia Towers and talk to their property consultants, or check out the full listing information online at realestate.com.kh. And don't miss the D'Seaview groundbreaking tomorrow. To find out more information about the D’Seaview groundbreaking ceremony, please call +855 23 985 828 today.

According to a recent Cambodia Daily report, Cambodians passing rights to property from relatives won't need to pay property registration tax - as according to a Government announcement at the CPP party's party congress on Sunday.Transferring property is generally taxed at 4% of the properties value, including other minor property registration fees. Learn more about the title transfer process here. Yet, according to the new directive, spouses, parents and children, will no longer require this tax, and has been said to be effective already. The same will apply to grandparents and grandchildren. Stay tuned to realestate.com.kh news for more on this topic of property registration as the situation clarifies. Learn more about property registration, Cambodian land titles, strata title transfers and foreign ownership regulation on Realestate.com.kh today!

Now that 2015 has come to an end, Realestate.com.kh would like to start 2016 with a recap of the Kingdom of Wonder and its burgeoning real estate sector.  In particular - let's review the office space and retail supply trends in Phnom Penh - 2015. Also, don't miss the Real Estate Review: 2016Real Estate developers in Phnom Penh are seemingly boosting Grade A and Grade B office space to welcome the AEC integration in 2016. The intention is to be ready for potential demand from incoming investors as the integration takes affect in 2017-2019. According to Knight Frank's report, there will be a 64% increase in office space stock by 2018: 60% of this office space will be Grade A category, 40% will be Grade B. The majority of all office space will be within Daun Penh and 7 Makara. No wonder business is booming...The retail sector is growing rapidly: New malls, such as Aeon - with Aeon 2 and Parkson on the way soon in 2016, are having a dramatic influence on Phnom Penh's retail sector. According to Knight Frank Cambodia's: “Cambodia Real Estate Highlights 1st Half 2015,” total supply is building fast 2011: 59,154sqm; 2012: 66,154sqm; 2013: 72,114sqm; 2014-15: 134,153sqm; 2016: 223,173sqm (est.); 2017: 297,591 sqm (est.). With the entrance of a host of new brands and extensions of existing franchises in the retail sector, the supply by district is evening out. The evening of the share of retail supply could be related to new and existing brands increasingly looking outside of the Phnom Penh city center, where their customers are increasingly choosing to live. Check out more great info-graphics, from Realestate.com.kh: Prime Development Land Price Growth Tops ASEAN and the Real Estate Review: 2016

Now that 2015 has come to an end, Realestate.com.kh would like to start 2016 with a recap of the Kingdom of Wonder and its burgeoning real estate sector. No wonder real estate is booming... The economy is growing rapidly: Cambodia’s economic growth over the last 10 years has been some of the fastest and most-consistent in the Southeast Asian region, recording an average GDP growth of 7.0% per year since 2010. In 2015, this rate dropped very slightly to 6.9%. Cambodia has a total population of 15.4 million, and Phnom Penh, Cambodia’s capital city and economic hub with a population of around 2.5 million, in 2015 was second only to Laos in Southeast Asia for the fastest rate of urban spatial extension, as indicated by the World Bank. One of Cambodia’s key secrets to success in its economic growth has been creating an attractive environment for foreign investment, and this remains a key driver. In 2015, Cambodia received over $4B in foreign direct investment (FDI) and has a permanent expat population of over 78,000. Realestate.com.kh suggest that Cambodia is becoming a magnet for FDI due to the abundance of low-cost labour, rapid urbanisation, an increasing middle-class consumer market, low barriers to entry for foreign businesses, relative proficiency in english language, attractive tax incentives and import/export duty exemptions, continually improving logistics networks, and an economy backed by the US dollar. Furthermore, with the solidification of ASEAN, Cambodia is well located, surrounded by strong regional economies who are increasingly outsourcing low and mid-level skilled manufacturing operations to the Kingdom. These new industrial opportunities are lessening the economy's reliance on the garment industry, and offering low-wage workers more opportunities for career and skills growth. Cambodians are also entering the global community en-masse through technology - namely through dramatic increases in internet penetration throughout the population. In 2015, Cambodia had over 5 million internet users, a third of the population. Since 2010, foreigners have also been allowed to own apartments and condominium units in Cambodia - but not land, and, accordingly, not the first floor of buildings. While foreign ownership of land in still unconstitutional, land can be easily held by foreigners on long leases that are renewable, and through majority locally-owned companies incorporated in Cambodia. These structures are arguably safer than comparative legal schemes in other Southeast Asian states in which foreign land ownership is formally prohibited. Phnom Penh Overview: Phnom Penh is the capital of Cambodia, situated at the confluence of three rivers, the Mekong, the Bassac and the Tonle Sap. The Phnom Penh metropolitan area is home to about 2.5 million permanent residents. Phnom Penh is Cambodia's economic centre as it accounts for the largest portion of the Cambodian economy. High economic growth rates in recent years have triggered a real estate boom in Phnom Penh and construction is taking place across the city, with a plethora of new hotels, restaurants, bars, and high rise residential and commercial buildings springing up around the city. Industrial zones at the edge of the city have also expanded continuously in recent years, along with huge growth in the “borey” sector throughout the suburbs of Phnom Penh, “borey” essentially meaning gated community residential developments with self-serving infrastructure. These types of properties are extremely popular with local buyers and offer various housing types. Most of these properties are being bought off-plan. The Phnom Penh Master Plan 2035, supposedly nearing completion by the government this year, seeks to dictate the urban planning for the expansion of the city and construct new infrastructure to accommodate the growing population. Until now, the city has had no zoning regulations of note nor identifiable urban development planning. According to Realestate.com.kh research, flats located in central Phnom Penh cost around $3000 USD p/m2, as averaged across the prime residential areas. Rents can range from $9 – $14 p/m2 per month, depending on location and quality. Villas are generally more expensive than flats, at around $3,500 to $4,500 p/m2. Rental prices for villas typically range from as low as around $6p/m2 to $27p/m2. Low-to-middle range apartment developments, targeting the local market, average $200 to $500 a month rental per unit in the central areas of Phnom Penh City. The high-end, serviced and luxury condo market is priced considerably higher than this – but these prices vary greatly across developments depending on scale, location and quality. Beoung Keng Kang, Chamkarmon, represents the highest priced district in Phnom Penh with price for land reaching 6000p/m2 in some parts. Previously, home villas were a popular option for families wishing to live in Chamkarmon generally, however, many of these villas have now either been demolished and the land sold for development, or converted into boutique hotels or restaurants. High-end condo developments and hotels are changing the area dramatically at present. However, growing congestion and a lack of parking in and around the city centre is increasingly causing problems for inner-city Phnom Penh residents. Other upcoming Phnom Penh residential property areas include the west and south of the city generally. The peninsular of Chroy Changvar is also seeing huge development from foreign and local developers, and here height restrictions on new buildings are largely unlimited. These locations are very close to central Phnom Penh yet land prices remain considerably lower. Real Estate Trends: Presently, prime and mid-level office space across Phnom Penh is rising dramatically, with a variety of new highrise projects beginning to be released into the market, or slated for completion in the coming years. These new office complexes are often coming at the cost of knocking down villas, flats and other older real estate. Grade B and C are proving most popular, as Grade A office space is beyond the budget of most local firms. Phnom Penh commercial property options are only set to boom in the upcoming future, especially with the rise of ASEAN and the AEC. Another trend is in regards to the advent of high quality shopping centers and malls. Cambodia’s first international shopping mall opened its doors in June 2014: Aeon Mall. Aeon has since seen high demand for store space from both international and local retailers. A new breed of international franchisers who have for many years ignored the Cambodian market and refused to enter it, see the attractiveness of occupying slots in complexes such as Aeon Mall as it reflects international standards of retail space and retail space management. The new mall has convinced some of these franchisers that opportunities exist and that there are viable spaces for them to locate their brand. Parkson Mall on Russian Boulevard is the next of its kind to open in Phnom Penh, and is currently under construction. Aeon 2 is also in the pipeline. TK Avenue is another well known, well-established and modern shopping plaza and cinema complex, located in Toul Kork. The condominium market in Phnom Penh continues to expand, with early investors in centrally located developments enjoying appreciation of up to 30% from off-plan purchases. High-end condominium development looks set to continue in prime residential locations, with developers also looking to offer luxury projects outside of traditional residential districts. While the condo market was originally dominated by foreign investors, Khmer buyers are beginning to demand condos, predominantly for investment purposes and rental returns. This has led to a trend of local developers offering lower-range condo development projects to the market, and these types of developments range of $30-60,000 per unit off-plan and are being bought primarily by local buyers. Domestic demand is a key element of a successful condominium project for any developer in Cambodia, due to foreign ownership of an individual building (strata law) being restricted by law to 70%. Another trend we will see more of in 2016 are mixed-development complexes, including condo, office space and retail. Realestate.com.kh suggests that the reason for this is that developers are aware of a potential oversupply in the pure-condo market in 2018-19 and are thus hedging thier bets with mixed development offerings. Increasing investment from Singaporean, Japanese, Korean, Hong Kong and Chinese residents continues to grow in Cambodia, and the comparatively high yield guaranteed by many developers is still attracting overseas purchasers who see positive chances for appreciation in Cambodian developments compared to their slowing home markets. Thus far developers in Cambodia have focussed on the highend market, and to some extend the upper middle class, as these two markets represent the lowest hanging fruit. Still, suggests Realestate.com.kh, a massive demand exists for quality, affordable housing development in Cambodia suited to the needs of the lower-middle class and lowest income earners, especially in expanding urban centers. Without any proposed government intervention in the market for this demand, this appears to offer a great opportunity to developers able to cater to this large demographic. Sihanoukville Rising: As property prices in Phnom Penh continue to push upwards, many investors are quickly being priced out of these first-tier markets, as are many developers seeking land for their next project. Sihanoukville in particular stands out as an exciting investment destination worth serious consideration. Home to the Kingdom’s only deep-water port, Sihanoukville is the capital of the province of the same name and is home to a fast-growing population of approximately 300,000. Many of Sihanoukville’s residents are there for the port or its associated export-focused manufacturing. The city is Cambodia’s second-largest manufacturing base after Phnom Penh, with most of its output consisting of garments and shoes. The government plans to transform this area into an entire Special Economic Zone (SEZ) and is currently dredging the port to support larger freight vessels. Large reserves of oil off the coast of Sihanoukville has also been prospected, and plans are being made for its extraction in the coming years. In 2015, the average percentage of growth year-on-year was around 15-25 percent for land located in the city centre of Sihanoukville, according to Realestate.com.kh research. But along the seaside road and main commercial roads, prices have rose dramatically in recent years - in some places between 40-50 percent compared to prices 2013-14. Sihanoukville offers opportunities for cheap land to be developed into resorts, offices, guest houses, hotels or apartments. As investment capital continues to flow into the region, in particular from the Chinese, the region is also seeing the beginning of a high-end condominium market, with various grand scale projects already underway. Read more great Cambodian real estate news, insights, property reviews and analysis on realestate.com.kh/news today. Also check us out on Facebook. Check out more great info-graphics, from Realestate.com.kh: Prime Development Land Price Growth Tops ASEAN

Whether you are approaching retirement, want to cut down your commute time, sick of an uncontrollable garden, or maybe just fancy a move – it could be a good time to downsize your home!Downsizing is a great way to cash in on your current real estate asset, especially when the market is hot - and can help you save some extra money once you move into a smaller, more-manageable home. What makes property owners want to downsize? - Here are a few of the most common reasons.Finally free from the kids!When your children move out to go to university, start a job in the big city, or marry and start their own family – your current house might have vacant bedrooms and lots of excess space. It can be great always having the bathroom available - but when there is a chance to cash in on your property asset by downsizing your home you had better ask yourself "Do you need such a big home now?" Without your kids causing havoc, a big home might feel empty once they go. It also requires a lot of cleaning and maintenance, without any real benefits for those still living there. If this sounds like something happening in your home, try marketing your property for sale and consider downsizing.Cut the Commute:Generally, the closer your home is to the CBD, the more expensive the land/property is. This is why inner-city workers are increasingly looking to apartments and condos in Phnom Penh.  If your house is in the suburbs of the city, but your workplace is in the center – every day you might be spending hours in traffic. So for those who know they will need to live in the city for years to come – consider downsizing your home, and move to an affordable apartment or condo in the inner-city.  Cut Living Costs:A home is always in need of cleaning and other general maintenance; a home is also always in need of electricity and water and other utilities. Of course, it is easier to clean one bedroom, compared to four. A big home can also be hard to cool, or heat – depending on the season. For these reasons, you can bet that a smaller home will be have less maintenance needed, and ultimately cost less to live in. Thus – a smaller house = smaller bills = less work + more cash in your pocket.  Cash-in on your Asset:It can be easy to make money by selling your over-sized home in exchange for a smaller one. And the extra money could even settle your mortgage repayments. Especially when the property market is as hot as the current Cambodian real estate climate – cash in on your current home, and buy a smaller, more affordable property with a good chance of future appreciation.Want more updates and information? Check out Realestate.com.kh now!