Welcome to Realestate.com.kh's Dream Home Report. Every week we will showcase one of our most luxurious, interesting and unique properties from throughout our listings database. We want to show you the gems of the Cambodian property market. This week we look to Sihanoukville and a set of Island Villa's that will make any beach lover excited. The resort features 27 intimate island villas, uncompromising on luxury and design to reflect the simple beauty of the natural environment. See the full listings here and here Villa 2 is one of only three two bedroom overwater island villas at Song Saa, and the only overwater villas with swimming pools in South East Asia. The island villas offer direct access from the deck area into the sea, as well as perfect views out over the local scenery. It is the perfect place to enjoy a sunset drink with friends and loved ones. Complete with private pools, high-end creature comforts and a world-class restaurant and lounge at the heart of the resort spectacularly positioned just off the island’s shoreline and surrounded by sea. A short stroll on the boardwalk will leave you perfectly positioned to take in dramatic sunsets, seascapes and starry nights. * Vista Bar and Restaurant * Driftwood Bar * Pool-side dining * Large infinity edge swimming pool * Spa and wellness sanctuaries positioned in the rain forest and along the shore * Yoga meditation centre on the shoreline, ideal for yoga at sunrise * Water sports such as scuba diving, kayaking, snorkelling and boating * Ecological programme to experience the areas flora and fauna * An exclusive island boutique featuring designer labels from around the world The villa is available on a sale and leaseback scheme where owners are entitled to 30 nights usage a year in exchange for a return. Located within the Koh Rong Archipelago off the coast of Sihanoukville, Cambodia, the luxurious and idyllic Song Saa Resort spans the islands of Koh Ouen and Koh Bong (known locally as Song Saa – Khmer for ‘The Sweethearts’), connected by a footbridge over a marine reserve which is home to an abundance of marine life including turtles, seahorses and exotic species of tropical fish. With an ever increasing number of international flights into Siem Reap and Phnom Penh, and with the recent introduction of domestic flights between Phnom Penh and Sihanoukville, access to Song Saa Private Island has never been easier. From Sihanoukville Port it is then a comfortable 35 minutes to and from Song Saa Private Island on luxurious speed boats. See the full listings here and here This listing is from Knight Frank Cambodia, one of Realestate.com.kh's latest "Featured Agents". Find out how to become a "Featured Agent" today!

Are you looking for a new home – but are too busy working and trying to make time for your family and friends? Are you sick and tired of driving around the street for hours looking for houses to buy or rent, scanning multiple property websites, and having hundreds of meetings with real estate agents - all with no success?Whether you are looking to buy a villa or a luxury condo, office space, a retail location, or industrial property for a new business venture - you will find the widest selection of real estate in Cambodia on our website, all of which you can search through with our intuitive search engine, specifying the exact criteria you are looking for in a new property, and the area in which you hope to live – right down to the nearest Sangkat.Welcome to the future of real estate shopping, today. Established in 2009, Realestate.com.kh has grown to be the number one real estate website in Cambodia. We are not agents; instead, our mission is to support agents and property buyers by making searching for and finding real estate in Cambodia fast and easy.If you want to spend more time doing what you love, and less time looking for a house...then you should visit Realestate.com.kh.We have more than 10,000 properties for sale and rent, from all the leading real estate agents in Cambodia. We can even set you up with a home loan suited to your needs, an insurance quote for your vehicle or new property, and professional valuation services.Finding your dream home has never been so easy. Easily access Realestate.com.kh from your smart phone, tablet or computer anytime, anywhere - and only search for what you want, in the areas you want to live – anywhere in Cambodia. And if you can’t find exactly what you want when you first search, sign up for Realestate.com.kh’s clever “Property Alerts” tool and get new listings that match your search criteria sent direct to your inbox as soon as they come online.If it is a real estate agent you need, check out our “Cambodian Real Estate Agent Directory” to get in contact with the nation’s best property professionals – just click “Agents” on the Realestate.com.kh menu bar above.Meanwhile, Realestate.com.kh is also your first stop for property market research. Our news blog contains up to date information on Cambodian real estate news, market trends, Khan Information and area reports, and the best advice for Cambodian property buyers and sellers. Learn about land title classifications, investment advice, rental laws, new developments and how to choose the best agent for your needs, and much more.Realestate.com.kh is your one stop shop for all things real estate. If you still require any assistance whatsoever contact us today at info@realestate.com.kh or 017436756.

Knight Frank, one of Realestate.com.kh's latest "featured agents", launches its first inaugural Cambodia Real Estate Highlights 1H2015 - this is the first-ever 10-page Cambodia Real Estate Highlights 1H 2015 Report which provides key information on developments in the retail and office sectors in Phnom Penh, which are pertinent to investors, developers and end-users in their decision-making process to enter the frontier market.   Knight Frank, the independent global property consultancy, launched its first-ever Cambodia Real Estate Highlights 1H 2015 Report on September 3 2015.Strategically located between Bangkok and Saigon, Phnom Penh is at the centre of the East-West corridor between the two major regional trading hubs.  With an open door policy on foreign domestic investment (FDI), Cambodia has witnessed an influx of foreign developers seeking to take advantage of the relatively low land prices and an increasing demand for international standard real estate products. Mr Ross Wheble, Country Manager of Knight Frank Cambodia, highlights, “We are already seeing significant FDI in infrastructure and the industrial sector, and we expect this trend to continue with majority of the FDI coming from China and Japan. [caption id="attachment_78273" align="alignright" width="255"] Mr Ross Wheble, Country Manager Knight Frank Cambodia[/caption] “With a key focus on attracting FDI into Cambodia, the Government has already approached the Royal Institution of Chartered Surveyors (RICS) to assist with the creation of a Construction Code to improve building standards, and to advise on the implementation of fire and health & safety standards. This not only benefits the people of Cambodia, but also provides additional investor confidence. “Cambodia is entering a new era of economic development.  With an abundant supply of natural resources and fertile land, we anticipate that the agricultural sector will be the next key growth area. Currently, it is underutilised due to a lack of local expertise.” Commercial real estate in Cambodia Cambodia was severely impacted by the global financial crisis since its economy relied heavily on exported goods.  Land prices in prime locations declined by as much as half between 2008 and 2010, with numerous large-scale development projects being placed on hold. With the implementation of government policies enabling strata titling and foreign ownership, the decline in land prices reversed towards the second half of 2010 supported by increasing demand from foreign purchasers of condominiums and rising rents for both office and retail space due to a limited supply. Today, land prices in Phnom Penh have increased by as much as 80% since 2010 with a forecast of a further 25% increase for 2015. Comparing with the ASEAN markets, Cambodia is an investor friendly market where companies operating in Cambodia can be 100% foreign-owned. This, coupled with the low cost of labour and comparatively low rental rates, makes it an attractive destination for companies to set up operation. Foreign investors in CambodiaChina, Korea and Japan were ranked as the top three highest investors in the construction industry in Cambodia.Approximately half of the occupiers of purpose built offices are international banks, insurance and investment firms, as well as logistics, construction and engineering companies, which usually take up larger office spaces.Other typical occupiers are law and accounting firms, manufacturing companies, real estate firms, energy providers and telecom groups, and firms providing a range of business consultancy services.Most foreign-owned companies are from China, Hong Kong, Japan, Malaysia, Korea and Singapore.Major developments from notable developers and firms: Hong Kong: Exchange Square by Hongkong Land, a 20-storey Grade A office building with retail podium located in Daun Penh, which will add 18,500 sq m of NLA to the current office stock. Construction for the first phase began at the end of 2013 and is expected to be ready for occupation by 2017. The property has been available for pre-leasing since launching in Feb 2015.Malaysia: Maybank Group’s headquarters on Norodom Boulevard is set to be completed this year, adding a total of 4,602 sq m NLA to the existing stock. Maybank building will be partly occupied by the bank. Lion Group’s proposed mixed-use development, located across from the Phnom Penh international airport, has started construction and is slated for completion by 2017. The development will include a 7-storey mall that will add 45,500 sq m of NLA to the retail stock.Japan: Aeon has maintained a high occupancy at 95%, which is a positive sign for the retail market. Domino’s Pizza, Lotteria & Pepper Lunch, are among some of the larger international F&B newcomers that can be found in Aeon Mall, while fashion retailers such as Giordano, Penshoppe and Levis have also opened their first outlets on the mall’s ground level. Some high end retail outlets were initially part of the tenant mix but were forced to vacate recently due to poor sales and high rental prices. Retailers such as L’Occitane, Clarins, TWG, Hugo Boss & Eric Kaiser occupy Vattanac’s retail podium, which is more than 50% occupied.Korea: Phnom Penh Tower, constructed by Hyundai Amco, continues to be one of the more popular office buildings with Japanese companies, including Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi, JETRO, Fuji Electric, Tama Global Investments and Creed Group. Hyundai Amco is also the main contractor for the construction of ACLEDA’s headquarters along Monivong Boulevard.China: China continues to invest heavily in infrastructure with the Shanghai Construction Group building the fourth Cambodia-China Friendship Bridge in Takhmao, whilst Sinohydro Corp has established an office in Canadia Tower and is currently exploring the possibility of constructing a hydropower dam in Koh Kong Province.Singapore: The Peak is a new mixed-use development being undertaken by Oxley Worldbridge, a joint venture between Singapore’s Oxley Group and Cambodia’s Worldbridge, that will include a hotel component operated as a five-star Shangri-La hotel, part of the Kuoc Group of companies, whilst another Singaporean developer, TEHO International, will construct a similar mixed-use development with the hotel component being operated as a five star Okura Prestige hotel. Cambodia growth engineGDP continues to grow at an average of 7% year-on-year and is forecasted to do so up to 2018.Four main engines of growth – manufacturing, agriculture, tourism and construction continue to drive the Cambodian economy, with the construction industry’s contribution growing alongside the rapidly developing real estate industry.ASEAN Economic Community(AEC) integration is expected to increase employment and volume of skilled workers, which will positively impact the commercial sector as more companies seek to take advantage of investment opportunities.Although anticipated to increase in 2H15, inflation is expected to remain manageable over the short to medium-term.The stable political environment in Cambodia has led to renewed investor confidence with increasing inflows of FDI.Office Sector The majority of existing office supply is dominated by Grade C stock, with 92% of them situated in central locations within Phnom Penh.The office stock will see an increase of 64% by 2018, with 60% of the incoming supply classified as Grade A and 40% classified as Grade B.Hongkong Land, ACLEDA and the Overseas Cambodia Investment Corporation will add a combined total net lettable area (NLA) of 112,180 sq m, or approximately 72% of the total incoming supply.Prime rental prices remained stable showing only a slight increase of 2% between 2H 2014 and 1H 2015, with the city-wide average rental recorded at USD 14 per sq m per month across all office grades.Occupancies for prime office space remained subdued at 44%, showing a 3% decrease in vacancy between 2H 2014 and 1H 2015.Retail Sector Current per capita retail space of 0.0087 sq m points to an undersupply in Cambodia especially when compared to its regional neighbours, Thailand and the Philippines.Average vacancy across all retail grades is 14%.A 122% increase in current NLA is expected by 2019.Future supply will consist of 88% prime space and 12% secondary space, with 60% located in central areas.With the impending future supply, the current undersupply will be catered for, with concerns of a possible oversupply by 2018.

As Cambodia’s property market expands and diversifies faster than ever before, both locals and expats are seeing opportunities in the real estate industry. As a real estate agent your earning potential is near limitless and, meanwhile, the market place is so broad and various, almost anyone can find their sales niche and succeed.In many other countries there are various types of real estate agents with real estate sellers’ licenses suitable to their domain – whether it be rentals, residential sales, commercial, land, high-end, low-end, new developments and so on. In Cambodia, however, real estate agents only need to be licensed by a registered real estate agency. For those that want to become an agent, they must choose what direction to take their career; and for those looking for a property, they must choose what type of agent is best for their property needs. Here’s a guide to the different types of agents available in Cambodia, and why you might or might not want to choose them for your next property search… Full Salaried Agents:Full salaried agents are registered employees at a real estate agency who receive regular pay checks regardless of their sales results. Meanwhile, full salaried agents also generally receive an additional income of between 10 to 15 percent share of the final commission sum when they do sell. The benefits for full salaried agents are that they are guaranteed an income even when the property market slows down and sales are hard – but their commission rates are smaller than some other agents. For agency owners, offering a constant salary to agents may limit their incentive to really chase sales. For property seekers, employing this type of agent may lead to a lower-quality of customer service because they have no exclusivity over your listing if selling, and comparatively low incentives to do what it takes to find you the perfect property if you are buying. The quality of service of this type of agent will depend solely on the reputation of the agency – so choose your real estate agency wisely.Employed Commission-Based Agents:This type of agent is likely the most common way of working in any real estate market. An employed commission-based agent is hired by an established real estate agency and is paid only when they close a sales deal. When they do sell, they will receive around 40 - 60 percent of the total commission share, and the rest of the commission will be given to their agency. After all, they provided the agent with the collateral, leads and listings necessary for the sale. For agents beginning their career, this is an easy way to get started. Why? You will have access to the company’s listings and joint marketing efforts, meaning that no upfront costs or efforts are required from you. You will be rewarded on your success with high commission shares – but if you can’t sell, you won’t make anything. For property buyers and sellers, be aware that while many real estate agencies employ agents on these terms, not all agencies are as good as each other. Therefore, before you hire an agent like this, you must investigate the reputation of the agency that they work for. A good agency will assist you with all aspects of property purchasing and selling - such as inspections, valuations, marketing and legal considerations before and after the sale. Look for a wide set of skills and an intimate understanding of the local real estate market. Don’t settle for less.Freelance Agents:Freelance real estate agents were once extremely common in Cambodia. However, they are now illegal. Any real estate agent in Cambodia must be registered to a licensed agency. As freelance agents were liable for full commission on sales, they were more motivated than other agents to close a deal, and often worked harder to find a mutually beneficial contact between the buying and selling parties. The risk of working with ‘cowboys,’ however was high - freelancers will do almost anything to try and close a deal. The freelancer answers to no one, and no agency. For these reasons, only deal with registered real estate agents in Cambodia.If you are looking for an agent, the first place to look is the Cambodian Real Estate Agent Directory at Realestate.com.kh.

The Cambodia Property Expo is coming! Don't miss out on buying your tickets.And, once you are there, make sure you come and chat to the team from Realestate.com.kh at our VIP expo booth. More details soon...

Eastland Development (HK) Ltd has entered the Cambodian property market with grand promises to provide high quality residential and commercial property solutions to Cambodian nationals and international investors. Furthermore, Eastland intends to do so with the highest standards of corporate credibility and professionalism in all their activities. The first of these projects to reach completion will be the East One International Apartments complex, located on the corner of Street 51 and Street 214, Duan Penh, providing luxury high rise living in the heart of Phnom Penh. The next project in the pipeline is the East View Residence and East Commercial Center (ECC), set to become an entrepreneurial hub for young Cambodian and international businesses looking to find their feet in the Cambodian and ASEAN marketplace. Other projects in the pipeline for Eastland include a high-star luxury hotel project and a modern shopping mall development, both set for design in the not so distant future. Eastland’s long term partners in all of these projects within Cambodia include the China State Construction Engineering Corporation, China’s largest and most renowned construction company, and Buildwork Asia, a full-service property management company from Japan with over 50 years of experience in the property management industry.

A lot of people talk about buying investment property. However, this is not always as simple as it seems. To make any property a lucrative investment, you need to buy the right investment property and you need to manage it correctly.Here are the top three ways to make your real estate earn extra income for you and your family.#1 - Buy a Rental Property: If you want to see your new property investment making money immediately, you should buy a property that you can easily rent out to someone else. The benefit of a rental property is that you can sell the property at a higher price than what you purchased it for - due to the appreciation of the land beneath it - while, at the same time, you collect an additional rental income. The rental income will help supplement your mortgage repayments on the property – or could even exceed them. In which case, you will receive extra money each month as landlord. When buying a property that you intend to rent, however, you must try to choose a property that has market value now. If it does not attract rental tenants straight away, you won’t see any money in the short term meaning you struggle to pay the mortgage repayments. So when you are looking to buy an investment property to rent, you must consider:Is it in a popular location for potential tenants? Eg. Close to universities and schools, close to shopping centers, close to major employment centers etc.Is it suitable for expat renters? If so, you can make more from rental opportunities if you market the property correctly to expats.Is the property currently livable? You may need to furnish the property, and make the property more attractive for potential renters. Eg. Consider security precautions; consider supplying services such as wi-fi or cable tv.All of these things require investing more money into the property but may be necessary to guarantee tenancy.Obviously, this also means you must have another property where you can live while you rent out your investment property. Alternatively, if the property is suitable, you may be able to live in part of the house, and rent the rest of it to tenants. Read #2 Here

A lot of people talk about buying investment property. However, this is not always as simple as it seems. To make any property a lucrative investment, you need to buy the right investment property and you need to manage it correctly.Here are the top three ways to make your real estate earn extra income for you and your family. Missed #1? Click here to read them first!#2 - Buy a Property to Live in with High Appreciation Potential: This is what most people immediately think when they think of the term “Investment Property.” Invest in real estate that you will live in yourself, and hope that while you stay there, the price of the land will rise enough to cover the mortgage that you took out to initially buy the property. If the property appreciates sufficiently while you stay, you will make money on top of the mortgage and this is your end profit. This is also an investment suitable for those who don’t want to rent a property. When you rent for a long time, you might feel like you are wasting money by giving it to your landlord. If you buy the property, this money you would have spent on rent is instead going to be spent on the mortgage repayments. When you are ready to move from the house, you have the opportunity to make money on top of any costs of the mortgage. But remember:This is a much harder game if you don’t have upfront cash to buy the property or subsidize the loan – because the mortgage repayments are going to eat into your investment earnings.It also requires a better understanding of the real estate market trends that you are in, as you must find a property that will appreciate reasonably quickly.This investment tactic tends to take longer – in that you may need to wait for many years before the property appreciates enough to be worth selling again.It also requires economic stability during that period, increasing the risk.But, if you choose the right property, in an area appreciating fast, this type of investment strategy can work. And meanwhile you always have a place to live. Here’s what to look for:Property and land tends to appreciate naturally as other things develop around it, so when you look for an investment property to live in, try to choose upcoming areas. Places where maybe the level of infrastructure is currently lower – but clearly rising quickly.Don’t buy in areas which are already fully developed, unless you get a very competitive price when you buy the property. The appreciation in these areas is likely to be slower.Look to see where other people are choosing for investment and speak with real estate agents.Always research the market before buying a live-in investment property.A note regarding Land Investment: If you want to simply invest in land – you must invest at or below market value. If you spend too much on a land investment, your risk that it won’t increase in value is high, and meanwhile, you get no benefit from the property what so ever.Read #3 Here

A lot of people talk about buying investment property. However, this is not always as simple as it seems. To make any property a lucrative investment, you need to buy the right investment property and you need to manage it correctly. Here are the top three ways to make your real estate earn extra income for you and your family. Missed #1 or #2? Click here to read them first!#3 - Buy a property, Increase its Value, and Flip It: Potentially the fastest way to make a return on your investment is to buy an investment property that you will be able to improve through renovations and then sell for more than what you originally bought it for. Yet, no money is easy money – and some investors do not consider the true costs and skills necessary to buy, fix and flip property.One way to do this is to invest in a ‘property with potential’:A property with potential is one which is currently underdeveloped – but has potential to be a very attractive property with a little work and money.Yet, again, location is everything when it comes to re-selling property. So not everyone has money to buy in the right area and then spend money developing the property.Remember - Always get a professional valuation before you purchase any investment property, and this will help you find out how you can realistically increase the properties market value.Once you have developed the property, re-value it and see where its market value has moved to.There is no doubt that this option requires significant upfront capital – cash now. But if you have it, buy more and get a discount:Developers and other property investors with various properties will often give a much better price if you are willing to buy a number of properties.The money you save with this bulk discount can be used to improve the property for resale.You could consider buying a whole floor of a condominium building, for instance, then live in one unit while you rent out the others, or renovate the others for resale yourself.Then, sell all of the units at a higher price when the land beneath the condo appreciates.Missed #1 or #2? Click here to read them first!

Currently, the private sector is the only real force bringing fire prevention and response considerations into new building developments in Cambodia, says Paul Hurford, Managing Director of Azisafe Cambodia. Yet, even these standards can prove problematic in the Cambodian firefighting environment. [caption id="attachment_77921" align="aligncenter" width="540"] Hong Menea, Phnom Penh Post[/caption] The Fire Prevention Law, which is currently in force in Cambodia, is an overarching document that represents a cross between a fire safety law, a fire service law and a catalogue of emergency response standards. “It reflects a law that was intended to have specific regulations created under it,” says Hurford, “yet these regulations have yet to be created.”This means the law currently has no direct compliance mechanisms, and little practical application. [caption id="attachment_77915" align="alignleft" width="200"] Hong Menea, Phnom Penh Post[/caption] Many new buildings currently being erected throughout Cambodia claim to bring international standards of fire safety, fully integrated into the new building’s design. However, Hurford notes, while Singaporean, Malaysian and Hong Kong fire standards are increasingly integrated into new developments, these countries have some of the best fire services in the world in regards to response capabilities and external fire infrastructure. “Although a new development may incorporate international standards in regards to fire prevention within its design – if the local fire service arrives and their equipment has different couplings to those installed inside the building, these international standard systems are immediately useless.” The same issue occurs when the response team is not trained in using these internal firefighting systems. For these reasons, to achieve worthwhile fire design, emphasis must lie on emergency response mechanisms related to each building, and appropriate training for first response teams for that building, says Hurford.  This means compatibility with available local firefighting equipment, but also a strong emphasis on training and response protocols. Some new developments are taking matters into their own hands in this regard, employing and training in-house firefighting teams. Hurford agrees with this measure, as “realistically, each development must be self-sustainable if they want to control fire risk in Cambodia.” This includes internal systems capable of fighting the fire, such as sprinklers, alarms, and appropriate extinguishers, but always combined with emergency protocols, training and education. Hurford notes that for developers, given the potential risk to their investment – “no one is really doing enough.” Meanwhile, response capabilities of the Cambodian fire service are limited by an equipment and skills gap. The Cambodian fire service exists within a culture of donation in regards to equipment, suggests Hurford -as internal funding is seldom afforded, there is an expectation that equipment will be donated. But this raises issues when that donated equipment does not suit the Cambodian firefighting environment. For example, says Hurford, the Japanese have donated many fire engines to the Cambodian fire service. While the equipment donated is of a high standard, it is suited to a Japanese firefighting environment where fire hydrants are always readily available.This means the trucks only have very small water tanks. In Cambodia,there are very limited hydrants available and, therefore, for a firefighting team to be successful, it must carry all necessary water to the scene of fire. “This is just one example,” notes Hurford “but it is symbolic of the Cambodian fire service’s equipment problem.” [caption id="attachment_77925" align="alignleft" width="350"] Hong Menea, Phnom Penh Post[/caption] Hurford suggests that the only way for the Cambodian fire service to move forward is to create standards suitable to Cambodia’s needs, tailored to Cambodia’s means – then train across the board on these standards. A few groups are currently trying to help with this, such as Eurocham’s current work on the new Construction Law, and the IBCs involvement with the Building Standards and Fire Safety Committee – both of which are working alongside the Government to move from a reactive state of affairs, toward reaching standardized fire safety mechanisms that will really save lives and property. Hurford is currently involved with the formation of the Emergency/Fire Response Working Group, set to meet for the first time this August. This working group shall bring together all government departments involved in emergency response mechanisms, along with private sector members with experience in the field of emergency response. The group shall conduct mutual trainingexercises for its members, and try to standardize training and communication procedures throughout the country. While this group is still very much in its infancy, it has already been endorsed by the Police Commissioner and Ministry of Interior. Hurford notes that everyone trying to work together on this is in itself a forward step.real estat

Mr. Sorn Seap, the current acting-president of the Cambodian Valuers and Estate Agents Association (CVEA), has witnessed the real estate and valuation industry learn to walk in the last 10 years of his career. [caption id="attachment_77779" align="alignleft" width="328"] Hong Menea, Phnom Penh Post[/caption] “Previously, entry into the valuation industry required no qualifications whatsoever,” Sorn recalled. “An appraiser, who always doubled as a real estate agent, was guided solely by their experience in that particular market and their relative understanding of any property market’s value.” Meanwhile, the same ‘rule of thumb’ was the only standard that valuation seekers could consider when choosing an appraiser. For these reasons, the National Valuers Association of Cambodia (NVAC) was launched in August 2008 by the initiative of H.E. Dr. Keat Chhon, deputy prime minister and minister for Economy and Finance. In 2009, the Association was adopted for the 8th full member of ASEAN Valuers Association (AVA) and duly imported the association’s standard of professional ethics into their mandate. Yet, with insufficient members to neither consolidate the interests of the entire market nor standardize land prices, the Association changed its name to the Cambodian Valuers and Estate Agents Association (CVEA) in April 2011 and included real estate agencies within the association.  Now, the CVEA has a registered membership list of 60 real estate agencies and valuation companies. They provide a code of conduct for ethical practice and professional standards to all of their members, which are endorsed by the MEF. They also host educational events for their members to encourage better practice throughout the industry. The demand for property valuations is clearly rising throughout the Cambodian economy, said Sorn, but this demand is also diversifying in Cambodia. While traditionally Cambodians only sought valuations in order to raise finance for a home or business loans offset by the value of their property, increasingly, valuations are being used by Cambodians as a tool to apply for visa applications, negotiating joint ventures and in order to assist in share issuing. This new demand is coming with a greater understanding within the valuation markets, believes Hin Socheat, director of research at Bonna Realty Group. “Average Cambodian property buyers and sellers are increasingly aware that if their property valuation reflects any bias whatsoever, their interests are at stake – whether it be through a lessening of their financing potential or damaging trust in a joint venture proposal,” he said. In addition, Hin  said banks and lending institutions can put themselves at additional risk when offering sizable low interest loans to clients on falsified valuations. Sorn suggests that “the general population still largely sees appraisals as a market value estimate and very little more.” In fact, international standards of valuation require a considerably technical and scientific approach to the factors involved in reaching that value estimate and a code of ethics that eliminates any possibility of bias. Meanwhile, valuation documents are generally produced in English in Cambodia– leaving a language barrier for many consumers. “All they see is the final valuation number, and this leads to a superficial understanding of the process behind that number,” said Sorn. Yet, without compliance mechanisms or overarching regulation, professional and domestic investors, including average home buyers and sellers in need of valuations, still must consider the credibility, company background and experience of any valuation company or independent appraiser before using their services. Hin mentions, for instance, that Bonna Realty Group received accreditation from the Security Exchange of Cambodia (SEC) at the end of 2014, meaning they have the necessary professional valuation standards to value Initial Public Offerings joining the Cambodian exchange market. Standardization of the valuations market may not be such a distant future for Cambodia, however. According to Sorn, the CVEA is currently working closely with the MEF to define an appraiser’s code of conduct and an overarching real estate law for Cambodia, both of which will enter into force in the coming years. “The hope of the MEF and CVEA is to complete this consultation and drafting process by 2017,” said Sorn. To draft these new laws, the MEF and CVEA are importing international standards from the Royal Institute of Chartered Surveyors (RICS), a world renowned land qualification and valuations authority and a regulatory regime that is proving popular in neighboring countries and in the Codes of Conduct of various Cambodian appraisal firms, including Bonna Realty Group, who is a member of CVEA. Malaysian standards of practice have also been a focal point in these consultations between the MEF and CVEA. Meanwhile, the CVEA and MEF are currently in the process of raising funds to bring the RICS training body to Cambodia to begin training programs on these codes of ethical practice within the real estate and valuation industries as soon as possible. Want to learn more about how a valuation can benefit you? Learn more and get a valuation today - right here on Realestate.com.kh

The strong growth in the economy has largely coincided with the construction boom in Phnom Penh and all over Cambodia. However, a recent trend that is symptomatic of the burgeoning amount of construction across Cambodia is the increase in house and business break-ins proximate to construction sites, said John Muller, Managing Director of Global Security Solutions (GSS) Cambodia. Although statistics are hard to come by, Muller, a security professional with almost 30 years of experience in South East Asia, and who follows this issue closely has noted a rise around construction sites where workers have ample time to survey the movements of occupants, determine their wealth and assess easy access points. He also noted that recently there have been various cases of increasingly bold break-ins where people are entering while occupants sleep and even entering bedrooms to take high value items. In order to mitigate this risk, says Muller, those living or working near construction zones should assess the most vital areas of their home or business, and secure those areas. “Your most vital areas are always the areas where there are people, first and foremost, and, secondly, the areas where you keep your most valued property,” he said. Always try to have only one point of entry to your home or business, recommends Muller, as keys are extremely easy to copy in Cambodia and locks are easy to break. House help and private security guards always represent a certain level of human risk as they assume positions of trust, yet may not attain a high enough salary to resist opportunistic theft or collusion with outside interests. Therefore, for those with the means, non-key personalized entry systems will avoid these risks, such as fingerprint or retina scanning systems and cameras on main entry points. Outside your property, trees on the borders of the property can act like ladders and cover for anyone hiding on the outskirts of the property. Lighting should be considered and sodium yellow lighting casts a shadow better than any other outdoor lighting, making intruders more obvious to you, your dog and any motion detecting alarms. Motion detectors are recommended outside the home or business, says Muller, connected to a siren alarm. However, if you have a large outdoor area, maybe a commercial property, motion detectors and cameras may be too expensive to monitor the whole area – in which case a dog and/or a professional guard may be the best option. Cameras are always recommended for the outside of your house and the main roadways because it offers a basic deterrent, regardless of whether or not they are functioning. If you have a camera outside, potential intruders see your house as a hardened target, comments Muller, and assume you have other security measures inside. Andre de Jong, Managing Director of Robert Bosch (Cambodia) Co., Ltd., suggests this increased risk of break-ins should really be mitigated by the building developer in charge of the construction crew – who has a duty to ensure on site security measures during the construction stage of the development. By installing cameras on the construction site borders, the property developer can deter construction workers from entering neighboring properties at all times. Furthermore, once the developer invests in such security equipment, this is not wasted capital whatsoever – as these systems can be transferred from the perimeter of the site into the new development once construction is complete. Such construction site security standards are standard policy for many international developments currently underway in Cambodia. However, it is not yet enforced in Cambodian building codes and legislation–something that de Jong hopes to see change in upcoming construction law policy reviews.

In Cambodia there are remarkably low penetration levels of insurance – among the lowest in the world. This results in risk and insecurity for those with assets such as property.Cambodians are, however, starting to realize the benefits that investing in insurance can bring and Cambodia’s insurance industry is rapidly expanding. For the consumer, this means more and more affordable ways to protect your vehicle, home and business.The majority of companies in Cambodia invest in property insurance.This means, for example, if the business is a manufacturing factory then this insurance would protect that business against the danger of fire and flooding. There has also been a surge in businesses buying interruption policies. Properties can be insured up to the cost of construction by owners or renters. Get in touch with one of Realestate.com.kh’s professional insurance contacts today and find out just how affordable peace of mind for your business assets can be. Khmer’s who are insured already generally tend to be older, aged 35 or above, and these Khmers are aware of the risks that exist and have enough assets that their risk is significant. Insurance gives peace of mind in protecting those assets.Residential property owners however are largely uninsured or underinsured in Cambodia.This is a very risky state of affairs and in some ways illogical when the cost of insurance is considered. For example, if your 3 bedroom home in Toul Kork, Phnom Penh, valued at $200,000 was to be damaged by fire, storm or a flood – it would cost all of your life savings to rebuild. An appropriate policy covering you against this risk might cost less than your lunch on a daily basis! Meanwhile, your life savings would be free from the burden of rebuilding your home, as would your mind be free from stress of that risk.Taking out property insurance if you’re renting a property in Cambodia is wise too, unless it’s written in your lease agreement that you are not responsible for damages to that property. These rental documents are typically very small, and may be unclear about the liability for damage to the building – so check with an insurance advisor or lawyer to guarantee you are covered for everything you think you are covered for.Insurance experts can help you identify where risk exists, quantify and analyze the various components of that risk, and help to develop suitable risk response strategies. Finally, they will offer you an insurance policy that will eliminate any financial risk. The insurance specialist’s job does not end there, however. They must continue monitoring these risks to determine how they change over time – and make sure you are aptly covered.If you already have insurance, it is also important to know exactly what your current insurance policy covers. Many property and business owners in Cambodia, and around the world, discover that their insurance coverage does not include what they thought it included - but when it is too late. Some are under-insured in Cambodia or are even sold the wrong insurance policy to start with. To avoid this situation you should be asking yourself very basic questions about your exposure across the entire range of possible problems.And the best place to start is by having one of Realestate.com.kh’s professional insurance contacts analyze your current insurance policies, and assess whether your risks are truly covered. Get a free quote HERE.

Sihanoukville is Cambodia’s only seaport, a crucial import/export hub for the massive garment and agriculture industries - and, simultaneously, a tropical holiday resort destination on Cambodia's southern coast. Due to these two features, Sihanoukville city is growing rapidly and is an increasingly important Cambodian economic center. The Sihanoukville real estate market is diversifying fast too. Thankfully, in contrast to the neighboring beach/port areas in Thailand and Vietnam, Sihanoukville does not suffer from the threat of major flooding, typhoons, tsunamis or earthquakes. Even during the rainy season, the coast of Sihanoukville happily hosts guests. This is certainly a positive thing for the Sihanoukville real estate market. Although tourism has increased rapidly over the past years, the beaches of Sihanoukville remain some of the most unspoiled and picturesque in all of mainland Southeast Asia. Major improvements are also being made to Sihanoukville's airport currently, and plans are supposedly in place to build an international airport on the island of Koh Rong in future. Tourism in the province is expected to see a large boost in coming years, and the Siem Reap real estate market is certainly reflecting this. Tourism clearly defines certain sectors of the Sihanoukville real estate market, and land prices directly reflect this in tourism hot spots around the city, and along the coast.However, because Sihanoukville has been developed as a tourism destination in a relatively short space of time. What was once a city defined by scattered bungalows - and very little else - is quickly being replaced by high-end resorts and beachfront condo developments, casinos, world-class golf courses and monopolized mass tourism networks. These dramatic changes are not-surprisingly putting pressure on amenities such as water and electricity throughout the city of Sihanoukville, especially near the largest new developments. Nevertheless, power cuts and water shortages are much less frequent in Sihanoukville than smaller, less-developed tourist destinations such as Kep, Kampot or even Battambang. Keep these infrastructural considerations in mind as you choose which part of the Sihanoukville real estate market you wish to buy property in. For those businesses and individuals wishing to ensure consistently stable electricity, backup generators are a common sight in Sihanoukville. They are a cheap and dependable option. This is standard practice for the majority of major hotels, resorts and restaurants in Sihanoukville. Renewable electricity solutions are also increasingly available throughout Cambodia, especially in regards to wind and solar power. Renewable power solutions can be bought and installed at very competitive prices in Cambodia, and offer significant financial rewards in the longer-term - as they lessen dependence on the grid. Water is predominantly city-sourced in Sihanoukville city. For property owners this might mean the occasional shortage can occur in Sihanoukville. Drilling a deep well is an option chosen by many with high water demands in Sihanoukville; yet, keep in mind that water may still require proper filtration once pumped. Alternatively, and considerably more inexpensively, water banks are a solution recommended by many Sihanoukville property owners with high, or consistent, water demands. Cambodia's only deep-sea port is located in Sihanoukville. Plans have recently been announced to increase the capacity of this port through sand dredging. Sihanoukville deep sea port can currently only host “feeder” vessels. What this means, is that any long haul sea freight being imported or exported from Sihanoukville must first connect to larger “mother” vessels at deeper-water regional ports, such as the hub ports of Hong Kong or Singapore. Only after transferring freight cargo from feeder vessels to these mother vessels can it then depart to final destinations in the US or Europe; or, in the case of import freight, landing in Cambodia at the Sihanoukville port. When this port expansion is completed in 2020, mother vessels will be able to dock at the Sihanoukville port. This will mean costs for importers and exporters operating from within Cambodia will be significantly reduced, as will the time it takes to reach final destinations worldwide. Significant reserves of offshore oil have been prospected near Sihanoukville and are currently being sold by the Cambodian Government to various international extraction companies. Because to these potential resources, a considerable amount of international aid has been poured into Sihanoukville to improve the infrastructure of the province so far. No doubt, in the future, as the oil is sold and extracted, the city’s infrastructure will develop hugely. Now might just be the perfect time to stake your claim in the Sihanoukville real estate market before prices soar in future - so you had better get there fast...

While appraisals are generally performed by skilled professionals, anyone involved in a real estate transaction can benefit from gaining a basic understanding of the different methods of valuation.When you use professional and independent property valuation services, you get a properly estimated value of your property.Read news about changes coming for the Cambodian Valuation industry HereMaking an investment in property is only an attractive option because you assume you will gain good returns from it in the future. However, to see the value of that property rise, you must make sure it is valued corrected, and by a trusted appraiser whose valuation will be widely respected. Accurate real estate valuation is important to mortgage lenders, investors, insurers, tax collectors and buyers and sellers of real property. Valuation services are available for different types of property and are not restricted to residential property. You can find them available for offices retail outlets, industrial estates, hotels, and any other real property. For most people, determining the asking or purchase price of a property is the most useful application of real estate valuation.How is a Property Valued?The property valuation report includes all features of the property and helps you, the owner, and prospective buyers, to understand its exact current condition.The goal of an appraisal is to determine a property's market value: the most probable price that the property will bring in a competitive and open market.An estimation of your property’s current worth or “market value” should consider any prior valuations of your property, suburb valuation trends, owner information, selling history, transfer history and comparable sales in the area.The property valuation gives an estimated market value of a property which is determined using various property industry sources, such as information from the relevant Cadastral office where the property’s title was certified, recent sales statistics, property specific details and relevant price trends.Unlike many consumer goods that are quickly used, the benefits of real property are generally realized over a longer period of time. Therefore, an estimate of a property's value must take into consideration economic and social trends over time, as well as governmental controls or regulations and environmental conditions that may influence that value.A Professional Valuation will, therefore, consider:Demand for that property - the desire or need for ownership supported by the financial means within the market to satisfy the desire;Utility of that property - the ability of your property to satisfy future owners' desires and needs;Scarcity - the finite supply of competing properties of a similar type and description; and -Transferability - the ease with which ownership rights over your property are transferred.Want to learn more about how a valuation can benefit you? Learn more and get a valuation today - right here on Realestate.com.khA comprehensive and respected valuation report will serve you in many ways. Here are just a few:Selling your Property: If you want to sell your property and need to find out the appropriate price, using the services of a property valuator is the best choiceBuying Property: When you are interested in buying new property and need to make a pre-purchase assessment of it, you can find all the information that you need by taking up the services of a property appraiser.Tax Compliance: In case of a matter related to tax payment, a valuation of the property by property valuators is necessary to determine tax liabilities fairly and openly.Assessing Rental Rates: In a situation where you wish to lease out your property and need to set an appropriate rental cost based on the qualities of your property, a property valuation service will be useful in determining the amount based on your property’s value.Legal Settlements: For settlement of property rights between members of the family, matrimonial settlements, litigation settlements, etc. you need to know the appropriate value of the property in order to divide it fairly.Mortgages and Loans: In order to borrow money from the bank, you need to provide information of your real assets by which you can guarantee the loan. A good valuation will help guarantee your next loan or Mortgage.Insurance: When you have to get the value of your property for the purpose of insurance cover and claims, nothing can get the matter through faster than hiring the services of professional property appraisers.Increasing the Value of your Property: By understanding how your properties market value increases according to the criteria of the valuation report, you can upgrade features of the property to increase that value in time for the next valuation. A valuation report allows you to objectively analyze your property, and any business ventures attached to that property, and improve its market value.Ready to find a property valuation expert? Look no further! Through Realestate.com.kh’s “Valuation” page, we can put you in touch with a professional property appraiser near you, suitable to your property valuation requirements. Get advice on a Professional Property Valuation HERE.

Selling or renting a property that you own is unlike any other financial transaction you will undertake in life; after all, most people’s biggest asset is their home. For this reason, selecting a Cambodian real estate agent is a major decision.Locating the best person to manage the sale or rental of your home or investment property, is crucial to obtaining the best price for your real estate investment in Cambodia. The real estate market in Cambodia is largely unregulated and, therefore, it is critical to make a good judgment of your Cambodian real estate agent.This is the Realestate.com.kh guide to help you select a Cambodian Real Estate agent that is right for you.What are some great skills an estate agent should have?But before we jump into the detail of sourcing, interviewing and assessing the performance of your Cambodian real estate agent, it’s important to know what traits a great real estate agent should have:An ability to meet expectations at each stage of the sale or rental process.An understanding of Cambodian property titles, and the laws & taxes, as well as common practice within these domains.The agent exhibits interest in meeting or exceeding your expectations.Positive referrals from former clients (consider social media, blogs, friends and family).Thorough knowledge of similar properties for sale or rent in your relevant market (this is especially important in the big cities of Phnom Penh, Siem Reap and Sihanoukville).Being prepared to be open and frank regarding the prospects of achieving your goals to rent or sell the property.How to find a Cambodian real estate agent:The Cambodian real estate industry is generally subject to few local laws. This means there are thousands of individual people who call themselves agents. This can make it extremely difficult to find a professional real estate agent, especially outside of the major cities of Phnom Penh, Siem Reap and Sihanoukville.The first place you might look at is the Cambodian Real Estate Agent Directory at Realestate.com.kh. Use the "Find an Agent" section to generate a shortlist, after which you should interview the agency (see our tips below), review feedback from former clients in blogs, Facebook, Twitter and other external publication online.If there are recommendations from former clients it is a good sign that the agent is reputable. From there, book an appointment with the agent. Generally, Cambodian real estate agents will suggest making an appointment at the property location. This is common as it enables them to perform an appraisal on the spot.Indicators that suggest the agent/agency is professional:The following are good indicators that the agency or agent you are considering dealing with is professional and committed to a high standard of ethics: Operating a trust fund: Trust funds are a great sign that the agency is serious about their business and protecting their client’s interests.Works from an office: Agencies who have premises with multiple staff are usually credible businesses.Has a website/conducts marketing: Agencies who have websites, conduct newspaper and online advertising and generally have good marketing are ordinarily serious businesses with a commitment to their profession.The Interview process: The interview process should be one of investigation to ensure the agent is a good fit for you. Here is a list of questions to ask the prospective agent during the initial meeting / real estate appraisal: How many years has the company/person been involved in the real estate industry in Cambodia?How many sales/rentals have they completed in the last year?The number of properties that are currently listed for sale/rent on their books?The number of prospective buyers/tenants they are in contact with?The preliminary estimate of your property listing in the current market, and the formula that they used to arrive at this figure?Proposed marketing strategy for the property (for example online, newspaper, an email database, events)? The most important question of all those above is the anticipated sale/rental price of your property. Ideally you will have also conducted your own research and have some notion of the price you expect to achieve based on other similar properties in your neighborhood. Experienced Cambodian real estate agents will provide an appraisal roughly in line with your research. In addition, highly professional real estate agents will also generally respond to your requests and provide a marketing proposal in writing following the interview. Making the Decision:Once you have reviewed your options and decided on the person who you believe will do a great job in handling the sale or rental of your home, you need to enter into a formal agreement. The written agreement will clearly outline the terms and conditions of appointing the real estate agent. It should contain an estimated sale or rental price, the total commission payable (in Riel or US Dollar terms), fees and charges, and marketing expenses. Assessing the performance of your real estate agent in Cambodia: So you’ve selected a great real estate agent and have the sale or rental process moving along; how do you know whether your agent is doing a good job? Here’s a checklist of things the agent should do, and if they aren’t doing these things, you might like to consider appointing somebody else: Provide you with regular updates regarding the number of buyers and tenants they have been in contact with (maybe agree beforehand on the best form of communication- email, apps such as WhatsApp/Telegram, phone calls etc)Have a screening process to determine a tenant or buyer’s suitability for the property (for example reference checks, confirmation of their job etc.).Ongoing marketing advice regarding the number of inquiries your property is receiving and how to increase its appeal to renters/buyers (for example, conducting advertising, furnishing the property etc.).Competently handle the negotiations of the monthly rental or the sale price of your property. This is probably the most important job of a real estate agent and a good real estate agent will be an expert negotiator.Demonstrate experience at handling the legal and financial process of managing the rental property and/or conducting the sale.Ready to start your search for the perfect Cambodian Real Estate Agent for you? Check out our Agent Directory now!

As the SEZ concept evolves in Cambodia, a variety of zones have emerged, each with differing characteristics and aims. In 2005, after special economic zones (SEZs) were formally introduced in Cambodia through the Sub Decree, Svay Reing’s Manhattan SEZ became the first to began construction the same year. The Sihanoukville SEZ remains Cambodia’s largest with over 1,000 hectares in the area. The $320 million development is said to be capable of hosting 300 factories, offering about 80,000 jobs. As the SEZ concept evolves in Cambodia, a variety of zones have emerged, each with differing characteristics and aims. Currently, around 30 approved SEZs in Cambodia have been authorized by the Cambodia Special Economic Zone Board (CSEZB), which operates under the umbrella of the Council for the Development of Cambodia (CDC). However, while many organizations have obtained SEZ licenses, there is a limited number of SEZs actually operating. “Overall, an SEZ is a safe place for FDI because the conditions are found to be stable, safe and have less inherent investment and direct operational risk as opposed to locating outside of an SEZ,” said Charles Esterhoy, COO of Phnom Penh Special Economic Zone (PPSEZ). [caption id="attachment_77479" align="aligncenter" width="300"] Vireak Mai, Phnom Penh Post[/caption] SEZs are generally able to save foreign investors from investing extra funds in land development, infrastructure, security and ongoing maintenance. With a Qualified Investment Project (QIP) license, SEZ tenants will receive tax exemptions on production materials and equipment depending on whether they are in an export or domestic industry. Set period Profit tax exemptions are also available. SEZs can also offer up to 50 years of renewable leases to foreign investors, often allowing them to develop, subdivide or sublease the property. Meanwhile, Cambodian companies can purchase the land outright for development. While property prices in the Phnom Penh CBD and other developing industrial areas are heating up, prices at SEZs generally only see increases based on the costs of operations and the growth plans of that specific SEZ. Comparing prices across SEZs within Cambodia is, therefore, difficult - as each location is unique in what it provides investors and its overall business model. Cambodia currently has some of the highest costs of shipping and slowest freight speeds in the ASEAN region. Efficient import and export of materials and goods into/out of Special Economic zones is, therefore, a vital aspect of their operations for prospective FDI. One such example has been the recent implementation of the ASYCUDA system at PPSEZ, according to Esterhoy, which allows “brokers to process shipments on-line and with much more efficiency.” Oknha Sear Rithy, board of director for Kerry Worldbridge Logistics Ltd., likewise stressed the need to provide efficient logistic solutions in order to increase FDI in Cambodia. The Kerry Worldbridge Special Economic Zone (KWB SEZ), which opened in Dangkao last week, will be able to provide huge regional reach and efficiency in terms of supply-chain logistics, as the zone draws on Hong Kong-listed Kerry Logistics Network Limited’s vast experience in this field, inside and outside of Cambodia. [caption id="attachment_77480" align="aligncenter" width="300"] Vireak Mai, Phnom Penh Post[/caption] Cambodia also has some of the highest electricity prices in the region. This means, SEZs focus on reducing costs of electricity within the zone and guaranteeing its consistency, two factors especially important for manufacturers relocating to Cambodia. PPSEZ have partnered with Colben Energy to provide efficient electrical power distribution and stable backup power inside PPSEZ for this reason. Meanwhile, Oknha Sear Rithy said that KWB SEZ is currently speaking with renewable energy providers regarding plans to bring green energy solutions to the newly- bonded industrial zone. These energy solutions are potentially cheaper than the Cambodian grid can currently offer, and provide for FDI conscious of their environmental footprint. SEZs are assisting in the diversification of Cambodian export industries and have a close relationship with the Government - but are fully backed by private capital. This makes the application of new and innovative industrial policies particularly easy in SEZs, many acting as testing zones for wider policy initiatives. As per the 2005 Sub Decree that first instated SEZs in Cambodia, all Cambodian SEZs must employ a majority local work force. Although foreign managers, technicians and experts may be hired, the foreign staff should not exceed 10% of the total workforce. Zone developers often work with the Ministry of Labour to conduct vocational training to promote new skills and knowledge throughout the workforce. Potential investors in the semi-high tech manufacturing sector often worry that they may face a skills-gap when they move into the Cambodian labour market, one which is still principally engaged in lower-skilled manufacturing sectors such as garments and agriculture. However, SEZs are increasingly offering integrated vocational training facilities within their SEZs, supported by the Government, to ensure their staff can meet the demands of new and higher-skilled industrial developments being brought to the country through FDI. “These sectors,” sais Esterhoy, “create new opportunities, new skills and illustrate the potential of the Cambodian work force.” Both Esterhoy and Oknha Sear Rithy are seeing a consistent stream of interest from many specialized and semi-high tech manufacturing sectors who are seeking not only a stable manufacturing environment but also a stable business environment. Cambodian SEZs can apparently offer this.

As the Cambodian property investment market continues to expand, adding more high-rise condominiums to an ever-developing skyline, the construction sector has become a backbone of the Kingdom’s economy that attracts investment from across the region. As the Cambodian property investment market continues to expand, adding more high-rise condominiums to an ever-developing skyline, the construction sector has become a backbone of the Kingdom’s economy that attracts investment from across the region. But as the ASEAN integration opens up at the end of this year, with the promise of deeper market integration, the race to attract foreign investors to individual markets appears to be accelerating.For example, this month, two Vietnamese laws will take effect in a bid that could shake up the regional competition in property investment. One of the laws allows foreigners to fully own houses and apartments, while the other is geared towards large investors who wish to lease houses, land and to develop residential and non-residential property investment. According to Huynh Dai Thang, country partner of DFDL Vietnam, the anticipation for the law has already placed Vietnam higher on the property investment radar. “As a matter of fact, the interest of foreigners in ownership of properties in Vietnam has increased recently,” he said. The new laws allow for increased flexibility that seeks to draw in more investors for new development projects and also to fill vacancies in the countries’ apartment buildings with additional transparency. “

Location is a huge factor in Siem Reap retail real estate and real estate in the city generally.Siem Reap retail property prices peak in locations around the Old Market/Pub Street area. This is because of the constant stream of tourists that can't help but pass through this hub area. However, the spaces available here are particularly limited, lease conditions are often complex, and prices are increased dramatically every time leases are renewed. Owners of properties in this area are well aware of this value, and tend to try to match prices of neighbouring properties. This is causing a snow ball effect. In this area, land purchase prices lie between $1,700 and $5,000 p/m2. Along the smaller streets of this zone, the land price drops to $1,500 to $2,000 p/m2. Although rents in high profile areas of Siem Reap have risen rapidly in the last ten years, in a macro/broad sense the Siem Reap market for real estate is developing. By increasing the property prices in the Siem Reap CBD, tourist hot spots and key residential areas in the city, the Siem Reap real estate market is defining itself moreso than it ever has in the past - and it's highest value areas. In future years, this definition will likely increase the value of the overall market, and the potential revenue of properties in these areas. Some tenants coming to the end of long leases in these popular areas have faced over 300 percent rent increases. This, however, is opening up properties for investors with sufficient funds to compete, and enough innovative product ideas to legitimized their rental bills.As rental agreements expire currently, price hikes are scaring away some tenants in the Siem Reap real estate market – opening the market for new investors with new ideas for making the most out of the property. As rental agreements expire currently, price hikes are scaring away some tenants in the Siem Reap real estate market – opening the market for new investors with new ideas for making the most out of the property. Competition breeds innovation, after all, and the pockets of many tourists' visiting Siem Reap can certainly afford to support a growing market such as this.Limited lease lengths, however, may mean higher risk exists for Siem Reap retailers when investing development capital into rented buildings and land for retail or commercial purposes. New businesses siting on a 5-10 year leases, for example, will naturally be reluctant to extend or dramatically refurbish current premises/buildings/infrastructure on that rental property, as they are worried their rent will increase dramatically, or end entirely, after the rental contract expires. This fear will stunt any business venture. When the lease ends, your business will risk losing the value added to the fixed assets of the property. Accordingly, pressure to create revenue to match this risk defines the Siem Reap retail hotspots.There is all sorts of Siem Reap retail property for sale and rent, Cambodia’s tourism mecca. Siem Reap's close proximity to the Angkor Wat temple complex has turned the city into one of the world’s premier travel destinations - with over one million visitors every year. Check out our prime retail space listings if you are wanting to join the race for the lucrative tourist dollar in the city center. Or maybe you want to settle down and relax outside central Siem Reap, in which case take a look at the host of affordable apartments, flats, villas and borey houses on offer in and around the city. Siem Reap is also a great place to farm and a variety of agricultural properties are now online. New development is bringing increasing options for serviced and non serviced office space in the city, as well as a growing collection of luxury condominiums and serviced apartments - prime for foreign investors. The city is compact and manageable for a first time buyer, with very encouraging rules for FDI. Begin your search for the best Siem Reap real estate in town by communicating with Siem Reap's most professional agents right here through our online portal. Or you can just use the search engine to enter in your criteria and you will be presented with a large list of Siem Reap real estate properties.

Tourism is a hot ticket in Siem Reap, and it is only set to grow. Siem Reap was ranked as the world’s second best holiday destination in 2015 by TripAdvisor.com. Yet, despite a rise in tourist numbers, Siem Reap land prices don’t seem to be rising dramatically.While the rise of tourism in Siem Reap, and its gradual spread across the city, is intimately connected to property prices and relative terms of rental agreements, recent statistics provide by Key Real Estate, Cambodia, suggest that Siem Reap land prices have barely changed at all during the first quarter of 2015, with the same quarter in 2014.One reason that rises in aggregate tourist numbers to Siem Reap may not be causing a significant increase in average Siem Reap land prices is the advent of mass-Asian tourism ventures in the region. Mass-Asian tourism ventures are a somewhat new force in the Siem Reap tourism and properties market, as Chinese, Korean, Vietnamese and other Asian entrepreneurs/investors are choosing to monopolize their parts of the Siem Reap tourism economy.It is not a phenomenon that is isolated to Cambodia, however, as similar ventures dominate many lower-cost tourism destinations around Asia.To explain the process of mass-Asian tourism in more depth, let's explore an example:  A Chinese tourism company operating in Siem Reap owns the tour company in China that attracts clients who want a low cost holiday in Cambodia; that same company buys and manages the hotels and restaurants in Siem Reap where these tourists will eat and sleep when they arrive; And the same company may even gain commission from the attractions their clientele visit when they tour around Siem Reap.Anybody in tune with the media in Cambodia will know that the tourism sector is quick to celebrate any rise in tourist numbers, and often this is equated to direct market growth.However, while these mass tourism ventures may appear to be boosting the Siem Reap tourism industry on macro-assessments, potential investors and retail renters should keep in mind that the income from this type of tourism is not necessarily flowing into the local Cambodian tourism economy or the hands and pockets of non-affiliated tourism vendors. Mass-Asian tourism may also not be driving demand for Siem Reap central city land. Asian tourism vendors can opt for cheaper destinations outside of the Siem Reap CBD - as they obviously already have a monopoly on their clientele.This means that they don’t need to set up operations in the highest tourist traffic areas, because their clientele are the definition of a captive market. This keeps their costs low, and their venture profitable. It is no wonder they are becoming such a dominant force in the Siem Reap Property sphere. According to the above graphic, provided by Key Real Estate, the Siem Reap real estate market can be generally divided into nine zones. Included for each zone are the average Siem Reap land prices, per square metre (p/m2).Siem Reap land prices in Zone A, including Pub Street and the surrounding area – a tourist hub in Siem Reap - lie between $1,700 and $5,000 p/m2. Along the smaller streets of this zone, the land price drops to $1,500 to $2,000 p/m2.Zone B, which encompasses the Central Market right through to National Road 6, has prices from $1,000 to $3,000 p/m2 on the main artery roads, and $700 to $1,200 p/m2 on smaller roads.Siem Reap land prices in Zone C, home to the Angkor Night Market, show an average of $1,000 to $3,000 p/m2 on main roads and $350 to $700 on minor-roads and pathways.Zone D reaches from Wat Domnak to Wat Reach Bo near National Road 6. In Q1 2015, this zone saw prices pitched between $1,200 to $2,000 p/m2 along main roads and $450 to $1,200 p/m2 on sub-roads.Siem Reap land prices in Zone E, including Wat Reach Bo all the way to the National Road, range in price from $1,200 to $2,000 p/m2 and in the region of $120 to $350 p/m2 on the minor-roads and laneways.Zone F, from Sameki Market along National Road 6 all the way to Angkor Pyongyu, have seen land prices along the main thoroughfare range between $850 and $2,000 p/m2, and from just $120 to $300 p/m2 on the smaller roads.Siem Reap land prices in Zone G, which includes the Sokha Hotel along National Road 6 to the western outskirts of Siem Reap city, range from $550 to $1,500 p/m2 and from $120 to $350 p/m2 on the minor-roads.Zone H, along the main road from Krom Market to the west border of Siem Reap city, have seen prices range from $400 to $850 p/m2 and from $90 to $250 p/m2 on the smaller roads and lanes. Finally, Siem Reap land prices inZone I, stretching from Angkor High School, now range from $170 to $350 p/m2 along the main road and from $60 to $250 p/m2 on the smaller roads.Want to read more about Siem Reap Retail Property Space? Check out a related Realestate.com.kh post HERE.