You have our deepest gratitude for supporting the launch party of the second edition of the Cambodia Real Estate Magazine on the 22nd of October at EPIC club of Phnom Penh!The Event & Magazine by the Numbers:The Cambodia Real Estate magazine party was a roaring success which was experienced by over 650 guests from over 274 leading local and international companies. Including 51 real estate agencies, 37 property developers, 21 banks and finance companies, 16 news and media platforms, 60 architect, construction and related businesses, 7 law firms, and 14 chambers, embassy and ministry related bodies! Making up the huge crowd were 112 General and Senior Managers, 30 CEO’s, 33 Directors, 126 real estate agents, 23 founders, 345 general employees, and 2 excellencies - including our esteemed Guest of Honour: H.E. Mr. Mey Vann, Director General of Financial Industry at the Ministry of Economy and Finance. The party was made possible by 8 very supportive sponsors: Imperial Crown, Ford, The Piano Shop, Cellcard, Kilat Events, E-Design Photography, Image Printing and, our lucky draw sponsor, BOSE. We are extremely proud to have increased our print run for the October edition of the magazine to over 15,000 copies, which are available FOR FREE at over 800 highly targeted and relevant pick up points countrywide. Pickup points include leading developer showrooms, real estate agencies, business lounges, business centers, chambers of commerce, embassies, cafes, restaurants and more! Online distribution of the magazine - through our website, email database and social media platforms - reaches over 100,000+ local and international readers.The Event in pictures:Check out the full photo album for the event. Please like and share!Cambodia Real Estate Volume III – Secure your spot before it’s too late!We are excited to announce that the third edition of The Cambodia Real Estate Magazine is due for release in January 2017. The content for the next magazine is already progressing rapidly and our existing advertising partners are continuing their support for Issue 3.If you would like to advertise in Issue 3 we strongly recommend booking your spot now as we already have limited availability for ad and advertorial space. Please call or email Jonathan Baxter at jonathan.baxter@realestate.com.kh or on +855 (0) 10 561 502Once again, thank you everyone for the support! And we look forward to hosting you all at the next Realestate.com.kh party in January 2017 - sure to be another event not to be missed...Event sponsorship opportunities for the next party in January 2017 are also available - but likewise filling up fast. If you are interested to sponsor our next event and promote your brand in front of the elite of the Cambodian real estate industry please call or email Jonathan Baxter at jonathan.baxter@realestate.com.kh or on +855 (0) 10 561 502Click here to download your free copy!

Selling your home takes a bit of thought process and energy sometimes. And one of the questions that frequently pops up is whether or not you should stick with one real estate agent - or list your property through multiple agents. This is especially true when you’re looking to sell your property fast for whatever reason.Both have clear advantages and disadvantages that sellers may want to consider first before deciding.Listing with Multiple Agents:If you want to make a quick sale, listing your property with multiple agents would seem like a logical choice. There’s a good reason for that. You get more exposure. These professionals can utilize different avenues such as the newspapers, real estate publications, and the internet to spread awareness for your property. More exposure means a gathered interest from a larger audience.This option also means more information about the property is released. Buyers can get to know your property better. Agents today are now also utilizing modern tools and techniques to target potential buyers better.The downside to using multiple agents though is that you’re working with a range of people and various sales strategies that are often times totally different from each other. This also entails that there are different degrees of understanding as to what type of buyers are qualified for the sale. There are self-professed private agents out there who will do anything to close a deal.Hiring multiple agents also means that negotiations will be done in isolation. The ones competing won’t be the buyers but the actual agents. This hurts your cause because you might find out too late that someone else may have made a higher offer.Listing with an Exclusive Agent:The thing about listing with an exclusive real estate agent is that their sales strategy – if it’s the right strategy – can save you a whole lot of time and effort. It focuses in on making sure that you get a good deal without demanding too much. This also offers the agent more flexibility to adjust their strategy based on your needs and on buyer feedback.You can hire a professional that specializes in your kind of property too. It is important to note that one effective person can outdo a hundred ineffective ones. Make sure you choose your agent wisely.Having an exclusive real estate agent also makes it easier for the buyer. Buyers would rather think about their personal needs more than they think about which agent they should contact. Keeping everything singular eliminates any possibility of confusion and makes it more convenient for buyers to make an offer.Exclusive agents also sometimes package property management services into the mix as a form of incentive. This is something you won’t get from multiple agents.The downside to this is that information about your property is limited to the stream of influence your agent has. Your reach is much more contained. There is also the risk of running into “commission cowboys”. These are self-professed private agents who will do anything to make a sale. This doesn’t always get you the best buyers.Remember that you will also play a big role in the process no matter what option you choose. What system you think will work best for you and how much effort you’re willing to put into the process is entirely up to you.  Choose wisely.Find Cambodia’s best real estate agents on Realestate.com.kh!

This article was originally featured on B2b Cambodia, one of the leading guides to doing business in CambodiaRealestate.com.kh celebrated its seventh anniversary of operations in the Kingdom in February this year—a landmark for both the company’s founders and the fast-growing Cambodian e-commerce sector. As the first mover in the online classified space for real estate in Cambodia—a market worth billions worldwide—Realestate.com.kh positions itself as a digital marketing partner for the leading real estate agencies, property developers and money lenders in Cambodia, essentially catching traffic from google searches and converting this traffic flow into direct sales, rental and home loan leads for its customers.Realestate.com.kh’s parent company, Digital Classifieds Group (DCG), is based in Australia with classifieds websites across three Asia Pacific markets. The group announced last monththe addition to its board of directors of Tim White, founder and ex-CEO of leading Australian real estate portal, www.allhomes.com.au; a website that White recently sold to Fairfax Media for over $54 million.With the appointment of a such an experienced partner, and sustained growth across all its active markets, DCG looks set to continue to expand its presence in Cambodia and across Southeast Asia.DCG’s entry into the Cambodian market and the rise of Realestate.com.kh is also a local success story for the website’s founder and majority shareholder, Cambodian national Moek Chenda.Chenda comes from an IT background, and was involved in the early creation and installment of IT systems for the Phnom Penh International Airport around 10 years ago. He also spent a large part of his early career developing and implementing CRM and website systems for local real estate agencies.Chenda launched Realestate.com.kh in 2009, using just one of the prime domain names he had purchased five years prior on the advice of a foreign colleague he had worked alongside during the airport project. In its early years, the website was solely managed by Chenda, with more and more local real estate vendors slowly but surely beginning to use his service.“When I was first building the website, my wife used to always bother me for wasting my time on it. She didn’t believe I could ever make money from it. She didn’t believe that websites made money, full stop,” recalled Chenda.“And it’s true. Before the market didn’t believe that a website could produce quality sales leads for their agency or project either. Many didn’t understand the value of SEO and the internet, that is, outside of basic Facebook marketing.”The business took off on all new legs in early 2015 when Chenda entered into a joint venture agreement with DCG, with the website appointing Australian expatriate Tom O’Sullivan, as CEO.“When I met Tom, I could immediately tell that these guys had the passion and the know-how to grow my business quickly, and I immediately trusted them,” said Chenda.O’Sullivan admitted to feeling he had just stumbled across the ideal partner without really trying. “We saw that the domain www.Realestate.com.kh was active, and had been for some time, so we reached out to meet the owner. When we met Chenda, it was clear he was the right choice as a local partner.”“He knows his trade inside out, and his connections within the industries, both IT and real estate, have proven invaluable,” added O’Sullivan. “Furthermore, he’s just a great guy to work and spend time with.”With the expertise and capital investment brought by DCG, Chenda’s website transformed dramatically in terms of user traffic growth and user experience. This led to a sharp increase in generated leads and in the portal’s clientele base.Click here to download your free copy!

Home and business security is of high importance for residential or business owners in Cambodia. Taking precaution for protection and crime prevention requires attention from the right providers in order to ensure that every property of yours is confidently secured.Ms. Sim Kalyan, the general manager of Global Security Solutions (GSS), joined Realestate.com.kh to talk about professtional home and business security. There are generally a few guidelines that deal with predictable risks and precautions for home security in Cambodia.What are the risks concerning home security in Cambodia, and business security?Kalyan says that most of the problems that home and business owners experience are theft, burglary, armed robbery, kidnapping, and fires. She explains that the armed robbers focus on the entrance of the house or areas near the house, while kidnapping could happen at home or elsewhere in order to get a ransom. These can cause injures or can even be deadly.How do you protect your home or business?Kalyan cited that the best solution for these risks is to find a professional private security company to help monitor the residential and business areas. These companies will then provide methods to protect your property. Another solution is to contact the police because they are trained specifically in the field of security and protection.Kalyan also provided two main key points which you can personally check:External Monitoring:Kalyan explained that external monitoring refers to the external aspects of housing such as location – whether it’s an unsafe area, there are reports of robberies, or there are pickpocket boys around. We can also inspect whether or not there are lights on the road. Another factor to check is whether or not the fence is strong enough or high enough.In terms of the home itself, she said that we must inspect the strength of the doors and windows on all levels. She also cautions to be careful with the veranda area.Internal Monitoring:Kalyan said internal monitoring means paying attention to people in the home such as helpers and drivers. This means a clear and thorough review of their backgrounds. We need to be clear who they are or what they are about before allowing them to live in the house. You should even be aware of people like postmen or cable fixers.Another thing Kalyan mentioned is that you need to have is a list of emergency contact numbers. It should be posted on the wall or somewhere where it’s convenient to find.Read more about home security in Cambodia tips on Realestate.com.kh!Click here to download your free copy!

Being away from home in Cambodia can be a frustrating feeling for some people. And worthwhile accommodations have been helping them feel a little less unsettled. Some people like extravagant rooms, some people want a variety of amenities, some people want a view of the city, and some just want a view of their surroundings.But Angelina Jolie likes to stay in places where she can immerse herself in the culture. That’s why choosing Phum Baitang by Zannier Hotels was an easy choice for her home in Cambodia.How It All Started:It was in one of Jolie’s numerous flights that she came across Phum Baitang on a magazine. It was perfect timing because she was then about to work on the Netflix movie “First They Killed My Father” at Battambang. She decided to make an arrangement for her and her family who stayed there for three to four months. She and her kids fell in love with the luxury resort instantly.Arnaud Zannier, founder of Zannier Hotels, recalled that at one point, Shiloh – one of Jolie’s children – set up a tent in the garden. Meanwhile, Jolie said that Phum Baitang is “where the best of Cambodia is shared with those who are looking to enjoy peace, tranquility and the uniqueness of the country.”Zannier says Jolie “loves the fact that the resort is very authentic, very simple, very emotional. We have tried to transport the real Cambodia within the walls of the hotel.”What the Hotel’s About:Phum Baitang Hotel is located in Siem Reap and is sort of a green village. There are a lot of authentic factors about this 5-star resort that make it stand out. But one of the rare things that Angelina Jolie fell in love with is the paddy field. It comes complete with farmers too.  More than that, the resort is an eight-acre property filled with greenery and natural elements such as stones and wood. It has 45 villas in total with authentic Cambodian architecture and designs. 25 of these villas have private terraces and the other twenty have private plunge pools.Phum Baitang also offers relaxation treatments and facilities through the Spa Temple which has 7 treatment rooms, a steam room, a sauna, and a relaxation area. They also have a Yoga pavilion, a 50-meter infinity pool, and a fitness room.Phum Baitang also boasts local and international cuisine through its two restaurants in the vicinity. You can also grab a few drinks at the cigar and cocktail lounge that’s situated near the paddy fields.So whether you’re looking for an authentic Cambodian experience or just a relaxing stay in the area that feels like a home away from home in Cambodia, Phum Baitang by Zannier Hotels might give you a mix of a little bit of both. And you might just bump into Angelina Jolie too…Looking for hotel properties? Check out commercial property for sale and rent across Cambodia.Click here to download your free copy!

A question is repeatedly raised regarding the crisis in real estate sector: “Will there be an upcoming loan crisis?” Yin Leangkong – editor in chief of the magazine Property View, and presenter and editor of real estate and economics at BTV– talks to Realestate.com.khTV about it.There have been talks of excessive credit growth in the real estate industry in Cambodia. This is causing concern of whether there might be a credit crisis down the line.  Recently, financial institutions have shown the year to year credit loan growth rate at an average of 30 percent. And this growth mainly focuses on the real estate sector. Do you have any comments relevant to this point?When credit loans increase, we find both negative and positive sides to this aspect. The positive is that when the credit increases, then there’s a cash flow for the citizens and the economy.It is good for citizens when they place this cash into targeted businesses by creating a business with a clear plan. It’s also even greater for business expansion, etc. These activities create more jobs for people.Also, when the working capital is running in the market, it shows positive effects for the economy.The downside in terms of the rapid growth in credit rate is that there are possible implications. For instance, the growth of the loan amount  from banks and microfinance institutions in Cambodia increased approximately 65 percent in 2015, in terms of Gross Domestic Product (GDP). This shows that the economy of the country may be in danger.But the situation changed in 2016. Loans decreased. So this significantly releases plenty of risk right away. The bank loans or microfinance loans were reduced and now there is a stronger and stricter loan application process than before.In your point of view, do you think that the real estate market will collapse like it did in 2008?It’s impossible! Actually, the real estate crisis in 2008 did not start out from Cambodia. It was a global crisis that started from the United States. And although the real estate market slowed down, intelligent and experienced investors in real estate have already taken precautionary measures. Moreover, government already issued regulations to prevent a crisis in this sector as well.Should micro finance companies and banks continue to provide loans for citizens?I think loan providing institutions should keep lending to people, but there should be a limitation and conditional loans must be specific and clear. When providing loan to people, you have to make sure it will contribute to help for a better standard of living for the customers. For a home loan, it may be suitable with the middle-class bracket. A term loan will provide both affordable standard of living to people. It also profits banks or microfinance institutions.But if there are too many home loans, it may be cause for a crisis. The global economic crisis that started from the United States is a good example. This crisis was due to an excessive amount of home loan buyers in the country that were offered with lenient home loan conditions.  They didn’t only buy to live in the properties, they also bought properties to sell for returns. Then when all those loans got stuck, they couldn’t be paid back; so this pushed the real estate crisis broadly to the entire economy.Thus, these loan and financial institutions should seriously consider making clear and strict loan policies before offering loans. It may not be possible for financial institutions to stop loaning immediately, but it would be good to balance the transparency between the supply and demand in order to benefit both the financial institutions and the citizens. It can also help make the macro-economy  better.Read more about latest real estate news in Cambodia on Realestate.com.khClick here to download your free copy!

This article was provided by Desmond Yap, General Manager of Yong Yap Properties. It seems like the directive of H.E. Kong Vibol, Director General of GDT,  presented in Cambodia’s first Tax Forum in September  is swiftly moving into action, with officers checking rental contracts of commercial locations for VAT and now what appears to be the introduction of a soft titled property transaction tax.We will unofficially call this a “stamp duty” tax for now.At the start of the week, Sreyleak EnChan, Yong Yap’s star consultant, was processing a new sale transfer at the sangkat office (local authority) when surprisingly, a new procedure was in place to transfer, with the need for the Ministry of Land Management, Urban Planning and Construction (MLMUPC) and the General Department of Tax (GDT) to be involved.Yong Yap Properties have met and discussed with the four main sangkats of khan Daun Penh in which they specialize in, along with verifying as much as possible with the khan and other related sources, the procedure now appears to be the following:Register to transfer property at your local sangkat office as per usualThe local MLMUPC office will be informed and an appointment arranged to inspect and measure the propertyA stamp duty tax invoice will be issued for the vendorOnce the sangkat has confirmed payment from GDT, the title process can continue as per normal to the khan.The additional costs appear to be $50 for MLMUPC to measure and issue invoice.  Stamp duty tax appears to be $6-8/m2 for the internal size of the property.  For the standard one bedroom flat, you would be expected to pay an additional $400-$700.  Transfer time is now expected to take 4 – 6 weeks, previously 3 – 10 days.This has come as no surprise as there has been rumors of imposing stamp duty tax on soft title properties since the start of the year.The surprise (or lack of in Cambodia) is that in typical Cambodian style, this law was enforced overnight without information passed onto the public or even the local authorities handling the situation, causing much frustration in the industry.Looking forward, if all our findings are correct, we hope this will bring more transparency and confidence in the security of soft titled properties to the market.  ACLEDA is the first major bank to provide loans for soft titled properties, with this additional tax registration, it should lead the way for other major banks to follow suit.See original story here.Find out more about land title in Cambodia on Realestate.com.khClick here to download your free copy!

In the past 2 decades, an old building in the city of Phnom Penh deteriorated and fell behind in terms of development. The White Building – also known as the Budin Building – is located in Sangkat Tonle Bassac, Khan Chamkarmon, Phnom Penh. Most of the people in the city regard it as one of the oldest buildings there. It was constructed in the 1960s and still stands strongly in the middle of the city .Everyone’s been keeping their eyes on it and asking what will happen to the old building.According to Radio France International, the White building will be rebuilt with a total investment cost of $80 million. This is a project by the Ministry of Land Management, Urban Planning and Construction in cooperation with the Japanese Arakawa company. This partnership comes after concerns that the dilapidated White Building may affect the health and the safety of the people living there. So, the Ministry of Land Management, Urban Planning and Construction decided to to rebuild it with the help of the Japanese company.On Thursday, 27th of October, 2016, the master plan of the project was presented at the Ministry of Land Management, Urban Planning and Construction, with the participation of the representatives of the White Building Community, the civil society, and other organizations that will be involved in the reconstruction.In the meeting, His Excellency Chea Sophara – the Senior Minister of Land Management, Urban Planning and Construction – has expressed confidence that the project will change the lives of people living in the area.The new White Building project will be 21-storeys high. 3 floors will be dedicated for parking and another floor will be dedicated for merchandise shops. The new building will also include 5 floors for accommodations. The 9th story  up to the topmost level is dedicated for the Japanese investment.If the residents agree with the proposal of the Ministry, the new White Building will be constructed over the course of the next 4 years.The White Building is one of the oldest buildings in Phnom Penh. It was constructed in Sangkum Reastr Niyum and was considered as apartment hall. The building was designed by the Khmer architect Lu Ban Hap in collaboration with Russian architect Vladimir Bodiansky. The White Building was inaugurated in the year 1963.Read the latest Real Estate news as it happens!Click here to download your free copy!

The General Department of Taxation (GDT) has extended the deadline for owners to settle their immovable property tax.  The usual deadline is September 30 every year. This year’s deadline has been extended to October 31, 2016, a month longer than the usual date. “Property” is referred to lands, houses, buildings and other constructions that are built on the land.The GDT has already issued two official notifications, numbers 12723 and 13466, reminding all owners of immoveable property to submit their Property Tax Application and pay their tax.Notification No. 13466 ordered owners of registered immovable property to pay their 2016 tax at any tax office or branch of Canadia or Acleda Bank, using the receipt for their 2015 property tax payment if the size of their property had not changed size, been separated, demolished, or changed hands. If any such changes have taken place then owners must inform the GDT so the department can update its records for any potential additional tax payments.Note that the failure to register immovable property and pay tax may result in penalties in accordance with tax regulations.The purpose of the law is to rationalize the use of land and to benefit the sub-national administrative budget. The property tax is to be imposed in all municipalities and provinces of the Kingdom and applies to immovable properties valued in excess of one-hundred-million Riel (25,000 USD).Property Tax baseThe tax is to be collected annually at a rate of 0.1% of the value of the property. The value of the properties will determined on market prices as evaluated by the Property Evaluation Committee established by the Prakas of the Ministry of Economy and Finance.Property Tax Calculation: an example from Cam Accounting & Tax Limited is a leading audit firm (Chartered Accountants) in Cambodia which offers Tax, Accounting and Audit Services.Mr. Heng owns one three-level building (E0, E1, and E2) of 4m x 16m with a total land area of 10m x 40m. The market prices per square metre would be evaluated by the Property Evaluation Committee as follows:Land price: $400/m2 Ground floor (E0): $120/m2 First floor (E1): $80/m2 Second floor (E2): $65/m2 Land price: $400 x $400 = $160,000 Ground floor (E0): $64 x $120 = $7,680 First floor (E1): $64 x $80 = $5,120 Second floor (E2): $64 x $65 = $4,160 Total price of property: $176,960 Property Tax = (80%* of Price of property – $25,000) x 0.1% = ($ 141,568 – $25,000) x 0.1% = $ 116.5 The information in this article was provided by Mr. Keat Heng (ACCA, CPA), Managing Director of Cam Accounting & Tax Limited.Contact Cam Accounting & Tax Limited for further assistance. The company will assist you with your immovable property and any payments you are required to make, calculating the amount of tax due by calculating the amount of property tax payable and submitting the correct payment to GDT.For further information or assistance, contact: Cam Accounting & Tax Limited Head Office:Head Office: Room 508, 5 Floor, Bayon Market, No. 33‐34, George Dimitrov (St. 114), Sangkat Monorom, Khan 7 Makara, Phnom Penh, Cambodia. Phone:(855) 97 5555 298 E‐mail: partner@cam‐at.comLearn more about Cambodia property tax by watching this video on property tax on Realestate.com.khClick here to download your free copy!

In a program with local media news, BTV, Mr. Chheang Sophanna – international sales manager of Pallas Group – said that the company plans to launch its $23.2 billion development project in March of 2017.  It will be located in the coastal area of Kampot and Kep.The government issued a license of development for to the project on October 12, 2016.Mr. Sophanna added that the Kampot and Kep project will be developed for residential holiday homes, business, and tourism and holiday homes. This is the first large-scale international project. It will be a great way to welcome foreign visitors from all around the world, he claimed.  Pallas Group is an international real estate company which is expected to occupy a total land area of 4,158 hectares in Kampot and 144 hectares of land area in Kep. Meanwhile, the company is also looking to do a similar project in Thailand and Vietnam. Kampot is situated 148 kilometres away, while Kep is located 170 kilometers away from City of Phnom Penh. Ms. Siriluck Choochart, the President of Pallas Group, mentioned that the project in the two provinces will be called the “French Riviera Marina”.The French Riviera Marina is set to become an international destination for purposes like residential, business, tourism, and film production. Siriluck cited that the company's Kampot and Kep project will create over 50,000 jobs after the construction begins and thousands more after the development is completed. And each project will be environment-friendly. It will also make use of modern construction materials and the most advanced construction methods. This project will be made with quality in mind and is slated to become the best of its kind in Cambodia.The French Riviera Marina will also offer a safe sea park that includes villas, hotels, apartments, a swimming pool, artificial beach, a private coast, a golf course, a port, boutique shops, leisure area, and many more.Enjoy more of the latest real estate news!Click here to download your free copy!

It is extremely easy to create a new listing on Realestate.com.kh, whether you are a private seller, landlord or real estate agent.However, there are some simple ways you can improve your listing quality and make sure every property you list on Realestate.com.kh gets the views and sales leads it deserves.The better your listing looks and the more information it contains, the more views your listing will receive from prospective buyers – and the faster you will sell or rent that property.And to ensure property seekers on Realestate.com.kh are presented with the highest listing quality possible, we automatically display listings with 0-1 images at the bottom of the list. Quality listings will always be preferred by our website, and sit higher in the list of search results.Tips to improve listing quality:1) Upload more than 3 Quality Photos:Some buyers who are accessing the site from outside Phnom Penh, or internationals who are searching for property from overseas on Realestate.com.kh, can’t view the property in person, or may have trouble navigating new cities in Cambodia. Hence, they rely on the photos more than most property seekers. Therefore, it is wise to make sure you (or your agent) take high quality photos – and lots of them. Furthermore, in most cases, the user on Realestate.com.kh only wants a physical property inspection if they really like the look of the property in the photos. There are so many properties to choose from on Realestate.com.kh, that home seekers will not waste their time looking at properties with poor quality photos; or photos of a messy house.The more photos – the better: After all, a picture speaks 1000 words. Realestate.com.kh’s internal data shows that your chances of selling a property can increase by 85% if you upload more than three images.Real Photos: It is very important that the photos you upload are of the actual property you are selling, as this will show potential buyers exactly how the property looks – and prove it is a genuine property for sale.Quality Photos: Always use a camera, not your phone!Clean the House: Clean the house thoroughly and remove clutter to make the space look as big as possible.Remove personal items and fixtures: People want to imagine their things in the house, not your things!Use the Light: Take photos in the daytime when the sun is out! Make the property look as light and lively as possible.Variety of Photos: Take a photo of every room in the house, and try to include any eye-catching and unique features that will draw users to your listing.Consider Functionality: Take photos that demonstrate the functional aspects of the house also. For example, include pictures of the connecting hallways, the security features, the laundry and the size of the car parking spaces. These may not be the most exciting images, but the to potential buyer or renter they hold a big value.Upload landscaped images: If the image you upload is portrait it appears cropped on the listing on Realestate.com.kh until the image is fully opened. If the image uploaded is landscaped, it looks good even when embedded inside the listing. So always flip the photo file before you upload it.2)Take time writing a Quality Listing Description:Offer as much detail as possible when you are writing your listing description. And most-importantly, put yourself in the property buyer’s shoes! What features will they find most attractive in your property? REMEMBER, do not rewrite the price, size of the property, number of bedrooms and bathrooms, your email address or phone number etc. in the description section, as this confuses the user. Instead, use the dedicated sections where you can tick the features of your house, and add price etc.English AND Khmer: Write an English AND Khmer listing headline and description in the designated section. Don’t kill half your audience by ignoring one language.Tell us the Title: What title do you have for that property – soft title, hard title, strata title etc.? Tell the buyer in the listing description.Special Features: What special features does the property have? If there is something special about the property, tell everybody!Property Uses: What is the property's current use? What are the property’s potential uses? Are there any restrictions on its future use?Nearby Amenities: What are the amenities and attractive places that are close by to your property – schools, hospitals, shopping centers, government institutions, transport etc.?Construction: Is the property’s location free from ongoing construction? As major cities in Cambodia see construction booms, a property free from the noise and distractions of ongoing construction is an attractive feature.Access Roads: How about the road quality and quality of infrastructure near the property?Renovations: Has there been any recent renovations to the property?Extra Notes: Is the price negotiable? Are contractual terms flexible? Are their benefits to long term rental agreements (if a rental)? Do any services come free/inclusive with the property?  References: If you have any online references from previous clients who recommend your services, or ex-tenants who have positive reviews about the property, or a personal LinkedIn profile, include these all in the listing description – and inside your seller profile on Realestate.com.kh. All these things will build trust between you and the potential buyer/renter.3) Get your Contact Details Perfect:Your listing is a waste of time if people can’t get hold of you! So make sure your contact details are perfect.Add two phone numbers and two email addresses if you know that sometimes you will be too busy to take the calls.Take time to improve your “Personal Profile” or “Agent Profile” on realestate.com.kh. This profile allows you to give some extra information about yourself and/or your real estate agency. Completing this profile before you list is the perfect way to create a sense of trust and familiarity between yourself and potential buyers and renters. The more people know about you, the more people will see you as a legitimate seller/renter.If you are an agent, you should also include your agency’s name and upload your business’ logo to your profile. Whenever your logo is spotted on a listing, buyers will immediately know who you are, and your agency’s reputation. This recognition will ensure you benefit from the reputation of your agency’s brand, your previous transactions and build long lasting and profitable relationships.Also, if you are an agent, add a professional photo of yourself. A professional picture adds more credibility to your listing.Make sure you are registered on realestate.com.kh’s “Find an Agent” page too – and complete the profile. This is where our users come to find an agent, so make sure you are on the list! 4) Make your Property Listing Headline Count!Add a “Property Headline” in both English and Khmer – and make it count. If it is simple and clear, people will find your items before they find another. Realestate.com.kh has thousands of listings, so you need to make sure your title quickly summarizes what you have to offer!SEO Optimize it: Think about what people normally search for on google or on realestate.com.kh, and make a title for your listing that includes key search terms.Give a short, simple and relevant name to your listing. For example, “Big Villa for Sale in Toul Kork” or “10th Floor Condo Unit On Street 51” are ideal name choices.It is just a title! Save any description for the dedicated description section.5) List a price – Don’t list Price On Application (POA):At realestate.com.kh, we have found that potential buyers generally read the home’s description and expect to see an exact listed price. As such, we strongly recommend that you include a price on any listing if you want to maximise your inquires.Don’t scare potential buyers: If a home features a long list of unique details but lacks a sales price, buyers tend to think the home is likely overpriced. Make it easy for someone to investigate your home further by providing as many details as possible: including a list price.If the price is negotiable: also let the user know in the listing description.If the terms of sale/rent are negotiable: let the buyer know in the listing description. 6) Follow up your sales inquires QUICKLY and PROFESSIONALLY:When you receive phone and email inquiries for your property on realestate.com.kh, it is extremely important that you follow up with the potential buyer and renter as fast as possible. If you don’t get in touch quickly, your potential buyer or renter will soon find another offer, and another seller who is more interested in them. Following up inquiries slowly immediate makes you seem unprofessional and unorganized!International leads process: For international inquiries it is best practice to first contact via email with clear information, and then follow up with a call in English language, or whatever is the preferred language of the international buyer.Know the language: If you don’t speak English, or whatever the buyer's preferred language is (albeit French, Chinese, Japanese, Thai, German etc.), find a friend who does speak this language fluently to follow up the lead for you.Remember, an international user who inquires through a property portal is a SERIOUS LEAD and should not be wasted. Internationals totally understand the real estate portal system, and will only inquire to you if they genuinely intended to!Local Buyers: For local inquiries from inside Cambodia, it is best to call directly, as soon as possible.Know your product! Always be professional and understand your property information perfectly before calling. If you seem confused about the details when you contact the potential buyer or renter, they will lose trust in you and your property.For agents listing old properties: if the potential buyer or renter has inquired for a property that you know is already sold or rented, please be honest about this when you contact them about their inquiry. If you are honest about this, you can then establish enough trust with the prospective customer for them to allow you to show them similar properties that you are listing. 7) Upgrade Listings:You can now upgrade your property listings for sale or rent to “featured” on Realestate.com.kh for only about $1 per day! This means your property will be on the top of the list, and get more exposure and more inquiries. Just click “Upgrade” on the property that you want to upgrade inside your seller’s office and we will do the rest!8) Refresh Listings:If your property is still for rent or sale, you can now refresh your listing once every 7 days and bring it back up to the top of the list! When you click “REFRESH”, the property will be moved back up to the top of the list where potential customers will see it!Harness the online revolution that is spreading across Cambodia – and get your listings sold on Realestate.com.kh today, Cambodia’s home of real estate.Make a listing now! It’s fast, easy and free, with no commission on sale!

North Park Condominium perfectly blends contemporary design with modern lifestyle amenities, in a lush, natural environment, featuring lavish-style grounds and facilities. The first thing you will notice on arriving at North Park is the sense of space. The same is true when entering the apartments themselves.With 1.2 hectares of beautifully landscaped gardens, North Park’s intention is to blend between interior space and its luscious open space surroundings. Designed to create a world class lifestyle unlike any other, North Park boasts stunning interior and exterior features with 5 star resort amenities.With a beautiful lagoon swimming pool, restaurants, gym, playground & 24 hours security, your daily life will be enhanced by the feeling of relaxation and exclusivity.Financial:35 percent of the 55 units in the Sapphire tower have already been sold before its official handover date on March of 2018. Currently there is a special promotion called North Park Guarantee (NPG) which enables serious buyers’ huge savings. For a limited time only the current promotion is open to 7 units which comprises of a discount, a 7% rental guarantee annually for 2 years and free property transfer.The Royal Group:The North Park Condominium is a project by the Royal Group of Cambodia. They are recognized as the country’s “most dynamic and diverse business conglomerate”. They are involved in telecommunications, financial services, media and entertainment, hospitality, property and transportation. They’ve also been part of large-scale development projects in other sectors such as the recent Royal Railways project.North Park Luxury:The North Park Condominium is a very low-density development that is family-centered. It was designed by international architects who followed international standards during the planning and execution of the project. Condo units range from one-bedroom to three-bedrooms that start anywhere from 55 square meters to 245 square meters. These all come standard with a large balcony looking over manicured landscaped gardens or a Laguna pool.They include amenities like the resort-sized pool, modern gym, children’s pool, lagoon, playground, restaurant, and BBQ area cater to different family members. The condominium also offers 24-hour security facilities and CCTV systems.It’s located along Street 2004 at the Northbridge Community in Phnom Penh. Notable landmarks in the location includes the Northbridge International School, CIA FIRST International School, Cambodian Country Club and Ratana Plaza Shopping Center.For a lavish and luxurious resort-like home for you and your family, the North Park Condominiums project is a perfect choice.Learn more about North Park Condominium today!Click here to download your free copy!

As the Phnom Penh Urban Area Expands Rapidly, Chaom Chau, Kakab is seeing huge Residential & Industrial GrowthIntroduction:Covering the majority of the western part of the capital, Pou Senchey district (locally called ‘khan Pou Senchey’ or Khmer: ខណ្ឌ ពោសែនជ័យ) is currently the largest of all 12 districts of  Phnom Penh and home to about 184,000 residents. As of today, Pou Senchey is administratively subdivided into 10 communes (locally called ‘sangkat’ or Khmer: សង្កាត់), namely Boeng Thum, Chaom Chau, Kakab, Kamboul, Kantaok, Ovlaok, Phleung Chheh Roteh, Samraong Kraom, Snao, and Trapeang Krasang.It shares borders with four other districts, namely Preaek Phnov district to the north, Sen Sok and Meanchey to the east, and Dangkao to the south.Market Summary:Pou Senchey, since the last decade, has seen a rapid pace of development, especially in the realm of residential, commercial, and industrial sub-sectors, leading to a considerable land price surge across the district. Observed within the period of the past three years, the district experienced an average annual growth of 31 percent in land prices, from US$110 p.sqm. in 2013, when averaged across the whole district, to US$170 p.sqm. in Q3 2016. Within those three years, 2014 and 2015 marked the strongest growth for land prices, yet during the course of three quarters of 2016 the prices were sluggish to move upward due to the situation that overall real estate market has cooled down steadily since late 2015.Fortunately, recent housing and plot land subdivision market stimuli practiced by many of developers have been seen to bolster the market growth again, albeit slowly, and this trend will continue helping boost market demand and thus keep real estate prices from going down negatively.Land Market and Pricing:In general, market prices for land across Pou Senchey district grew 31 percent y-o-y since 2013 until 2015, while the two bustling communes of Chaom Chau and Kakab grew about or less than 10 percent y-o-y because prices in the two communes were already high compared to the rest of Pou Senchey’s other communes.In term of land values and major business hubs, however, Kakab and Chaom Chau stand out from the rest thanks to their strategic locations as well as coverage of prime streets ideal for business positions. Kakab commune is immediately adjacent to Tuek Thla of Sen Sok district, while Chaom Chau commune is westwards next to Kakab.In Chaom Chau, land prices across the whole commune ranged from US$35 p.sqm. in undeveloped zones to a peak of US$1,800 p.sqm. along prime streets (e.g. Confederation de la Russie) and bustling commercial hubs. The average market price in Chaom Chau was US$400 p.sqm in Q3 2016, growing from US$320 p.sqm. in 2013. The average growth for land market prices was eight percent y-o-y.Immediately adjacent to Phnom Penh International Airport, Chaom Chau covers some part of the capital’s arterial street, namely Confederation de la Russie (Russian Boulevard in English), National Highway 3, and National Highway 4. Further, it shares a long distance of Veng Sreng Blvd.With similar geographic positioning, Kakab shares a similar market value as does Chaom Chau, but being closer to the central business hubs of the capital makes Kakab stand out in term of land prices and commercial demand. Land prices in Kakab commune grew 10 percent annually, from an average of US$380 p.sqm. in 2013 to US$490 p.sqm in Q3 2016. Kakab’s land market prices could range from a small base of US$70 p.sqm. in the undeveloped areas to a peak of US$2,080 p.sqm. along prime streets and in the most bustling commercial hubs.Nevertheless, a notable land price growth was mostly witnessed in less developed communes, as speculation seemed to be challenged by high prices in prime hubs and along major streets, but this speculative vision rather spilt over across the underdeveloped suburbs of Pou Senchey. For example, less developed communes such as Samraong Kraom, Kaboul, Snao, and Trapeang Krasang experienced a land price surge of about and more than 40 percent y-o-y, mainly due to their small price base and high price jump, as driven by the trendy development of plot land subdivisions.Samroang Kraom, which shares a long distance of Tomub Kop Srov Road, was seen with a remarkable growth in land prices following the road development that is currently almost complete. In 2013, the average market price of land in this commune was about US$45 p.sqm., and in Q3 2016 the average price reached US$150 p.sqm.. The average annual growth in the Samroang Kraom was almost 80 percent within the period of those three years.Similarly, Kamboul, Snao, and Trapeang Krasang experienced a big jump in land price growth, mainly driven by (1) increasing plot land subdivision development, (2) increasing demand for low-price land parcels and housing in the peripheral suburbs of the capital, and (3) the rapid pace of urban expansion especially since early this decade.Prime Street and Pricing:Chaom ChauChaom Chau is located west and south of Phnom Penh International Airport, being home to a large number of business hubs and residential zones, relatively similar to its neighbor Kakab. Residential towns and commercial activities concentrate only along the commune’s prime streets, thus making property prices along the streets higher than its less developed or undeveloped outskirts.In the third quarter of 2016, average land price along Confederation de la Russie (Russian Boulevard in English) in Chaom Chau commune was US$1,520 p.sqm., with a price range from US$1,400 p.sqm. to US$1,800 p.sqm.National Highway 4, the Kingdom’s arterial road interlinked with the capital’s main boulevard Confederation de la Russia, could be offered on the market at US$430 p.sqm on average. The base price started from US$140 p.sqm in the farther west parts of the commune and a peak of US$1,300 p.sqm. in the areas close to Chaom Chau Circle.On Veng Sreng Boulevard, land market prices could range from US$600 p.sqm in a less developed zone to US$1,550 p.sqm. in a more commercial zone, with the average market price at US$850 p.sqm.KakabKakab is closer to the city center, being home to Phnom Penh International Airport. The commune shares four of the capital’s main streets along which a large number of businesses are based, thus creating high values for land prices there.One of the high value, prime streets in Kakab is Confederation de la Russie (Russian Boulevard in English), along which land price could be about US$1,650 p.sqm. in Q3 2016, ranging from US$850 p.sqm. often for a large portion of vacant land, to US$2,080 p.sqm. for a prime commercial location.Another high value, prime street of Kakab is Street 2004, running off Confederation de la Russie through to Wat Ang Taminh Street. Along Street 2004, the average market price for land was US$1,300 p.sqm., with a range from US$800 to US$1,850 p.sqm.Next, along Oknha Try Heng (Street 2011), which runs off Confederation de la Russie through to the crossing railroad, average land price was US$780 p.sqm., with a range from US$570 p.sqm. to US$1,200 p.sqm. On the other hand, Street 105K is less competitive in land prices. By the third quarter of 2016 the average market price along this street was US$300 p.sqm., even if in the sought-after locations the prices could jump to US$750 p.sqm.Trend & Outlook:Market & Pricing TrendLand price growth across Pou Senchey district seemed stable since early last year, and it is predicted to see a slight increase over the course of the next two years by going through to 2018. In general, Pou Senchey’s pricing growth dropped negatively to 0.2 percent over the course of the first three quarters of 2016, though this has almost no impact on general price growth within the whole district.However, land prices as well as other properties in the form of land in Phnom Penh will start to pick up markly again by 2019.Urban ExpansionThanks to its many available large portions of land for new developments and  land properties with comparatively low prices, Pou Senchey has been seen with tremendous opportunities for urban expansion and relocation or new positioning of complementary services and amenities.Residential towns, several other types of cluster housing, and commercial establishments have been positioned in many different parts of the district, especially the district’s outstanding communes of Kakab and Chaom Chau, resulting in an increase of population there and leading to increasing demand for new housing units and related infrastructure improvements.Opportunities have been there since many years ago for Pou Senchey mainly thanks to its strategic locations, coverage of capital’s arterial roads and main streets, and large space available for urban expansion to host the increasing number of population as well as industrial and commercial positioning. Further, the increasing demand for development parcels with comparatively low prices also offer the district lots of opportunities for growth.Since recent years, it is notable that a number of developments have concentrated in the commune of Kakab and Chaom Chau, both of which shares arterial roads and main streets, along which commercial activities exist to complement the increasing number of residential communities nearby the areas.Tomnub Kop Srov Road, one of the capital’s ring roads, will be soon complete, while Veng Sreng Boulevard was rehabilitated by being expanded 22 meters wide and paved with concrete. Both of the roads run through parts of Chaom Chau and other parts of Phnom Penh. These establishments have created numerous opportunities, added further property values, and drawn new development potentials to the areas, especially along those streets.In Kakab, recent developments are in the realm of residential and commercial subsector. Notable developments under construction are Budaiju Residence (condominium project) and Lion Mall (commercial and shopping complex) along Confederation de la Russie, as well as many other cluster housing projects, both complete and under construction. Up to date, in Kakab commune alone, about 2,700 new cluster housing units have been complete, and 950 are under construction. Nevertheless, 3,300 units of the planned housing projects have been halted construction so far due to unsatisfactory pre-sale results.Industrial Trend:Increasing land prices and rental costs in the zones nearby inner city center will force existing factories that rely on rents to consider relocating to the suburbs such as western parts of Pou Senchey where rental costs and cost of living of workers are much lower. Easy access to National Highway 4, which directs to the Kingdom’s most important seaport, might also weigh the consideration for new factory and other industrial park positioning.As of today, Pou Senchey is already home to 40 percent of the total factories in Phnom Penh, ahead of Dangkao (22 percent) and Meanchey (15 percent).Learn more about Cambodia today in our detailed location profile!Click here to download your free copy!

There is an ongoing discussion about the supply of condominiums in the country, and the same question gets asked over and over again – whether it’s true that the country's condominium supply is more than the demand, and how that will affect the condominium market in the future. Realestate.com.khTV discussed this with Mr. Yin Leangkong – editor in chief of the magazine Property View, and presenter and editor of real estate and economics at BTV.A recent Knight Frank Cambodia report stated that “the condominium sector is forecast to grow by 723.5 per cent” by 2020. And The 2016 Century 21 Condo report estimates that there will be over 37,000 units to be released into the market by 2020. What are your thoughts on this and the current talk of a looming oversupply? Do you agree? And how will this affect the market moving forward? In my opinion, I both agree and disagree. If I talk about the negative side, we can just briefly look at the Cambodian lifestyle. It seems that the residential condominiums are not yet popular in the country. Although some people started buying condos gradually, some of them still worry about safety when living on high-rise buildings. For the moment, we cannot adapt. So, the projected surplus in the condominium market, it’s true.The number of condominiums in the current market hasn’t reached 4,000 units yet. But the number of condos on the market could potentially reach a figure of around 40,000 in 2020. So, I’m optimistic that the people's mindset will change in the next 10 to 20 years before the population growth in the year 2025. People have more difficulties to deal with the traffic growth of our country's.And since the economy is affected by these factors, the value of property is already at $40,000 to $50,000. At this price point, we can buy an old flat (second or third floor). If this is the case, the best option is to just buy a condo unit, a standardized housing that provides features such as safety, modern way of living, and other services. We saw it happen already in Thailand, Vietnam and Malaysia.Are there condos worth $40,000 to $50,000?Condominiums worth $40,000 to $50,000 are available in the market and have a strong potential for purchase among the young and middle-class local citizens. It is a response to market conditions. A number of local buyers who purchase luxury condominiums are foreigners or those who have higher living standards.What is the impact of the condominium surplus for buyers?It doesn’t affect the buyer too much. In fact, investors are the ones that will be affected. When the number of condominiums surplus, that means that there are no buyers. So, investors or condo owners are forced to give a discount.If we talk about the price comparison to neighboring countries, the condominiums in Cambodia are cheaper. But if you talk about value for investment and construction, there’s a huge difference because those investments are much more profitable. So, they can afford to give discounts to people who are in the middle-class range who cannot afford to buy housing – a point that many experts have suggested as well. You can invest for profit, but you should also consider the social aspects. Investors should work with people not only for business profit, but also because of a common interest to help them.Given the current market conditions, should investors invest in Cambodia or not?One of the questions investors ask is if it’s the right time to invest in the country, given its current market conditions. Investors will continue to repeat that question. The current political situation in the country is heating up, and the issue of election season is worrisome for some investors. But other investors think that it’s just the same occurrence in almost every country. So, they don’t worry about anything.In my opinion, should investors wish to make an investment in a community of the country, it should be based on the country's economic situation. Cambodia’s a tiger in Asia because of the country's stable economic growth of about 7 percent over the past five consecutive years. The macro-economic growth of the country has improved as well, according to a press release from the Ministry of Economy and Finance.Read more about: Are Cambodian living tastes changing?Click here to download your free copy!

With Strata titles being the more popular choice to enter into the Cambodian real estate market, some foreigners are not aware that they are actually able to utilize other means to own, or at least control, landed properties and land. Grant Fitzgerald, Country Manager of Independent Property Services, reveals – in his interview with Realestate.com.kh – other ways of buying land as a foreigner in Cambodia.Buying Land as a Foreigner in Cambodia via Nominee:Although a bit riskier than buying in your own name, Fitzgerald says that a widely-used method of buying land as a foreigner in Cambodia is through a nominee structure.He explains that “essentially, the nominee structure works by the foreigner buying for the property. However, the title is held in a Khmer national’s name.”But he clarifies that there are security measures that foreign nationals can take in order to protect their investments.He says that you need to secure four documents as a foreigner to buy through a nominee –  1) a mortgage agreement, 2) a loan agreement, 3) a lease agreement, and 4) a security agreement.1. Mortgage Agreement:He explains that a mortgage agreement is registered through the Sangkat and transforms the buyer into a bank, granting property activity by the Cambodian Citizen only through the approval of the foreign national.2. Loan Agreement:Meanwhile, he says that a loan agreement is a “paper loan that accrues interest over time” and is made between the foreigner and the nominee.3. Lease Agreement:He continues, the lease agreement “essentially allows the foreigner to live on the property” through a 50-plus -50-year lease agreement.4. Security Agreement:And the security agreement just basically sets out the obligations and limitations of each party. What Types of Titles Can Foreigners Own Through the Nominee Structure?Fitzgerald expounds that through this structure, foreigners are able to own any type of property or title. He says, “It’s all about setting it up correctly and using those security documents. When it’s done properly, it’s really safe and really effective.”Can Business Entities Own Land in Cambodia?Fitzgerald says that it is possible to own land as a company in Cambodia through a process similar to a nominee structure, but you have to set a specific type of business that you need to do through a lawyer. These are called land holding companies.He explains that a Cambodian national would still need to hold 51 percent of the company, but there are also legal documents these business entities can secure to gain majority of the power and rights, even with just 49 percent of the company shares.Check out our ultimate guide to buying through a nominee structure in Cambodia and learn more!  Click here to download your free copy!

A state visit between the  Cambodian government and the Government of the People's Republic of China last 13th and 14th of October 2016 was participated by both Prime Minister of Cambodia and President of China.This visit in Cambodia brought about an agreement and a memorandum of understanding of 31 points related to various fields, including the strengthening of international cooperation, economy and finance (business), taxation, law enforcement, industry and handicrafts, water resource management and  irrigation, environment, and infrastructural construction.Meanwhile, in the afternoon of October 14, 2016, Sun Chanthol – Minister of Public Works and Transport – signed an agreement for 3 major construction projects with China that are expected to begin construction in 2017. The three new projects include the National Highway projects from Phnom Penh to Sihanoukville, National Road project No. 11 from Neak Loeung to Tnal Toteung, and a project for a bridge across the Mekong river, in the area of Kroch Chmar to Steung Trang.National highway Project from Phnom Penh to Sihanoukville:This project will be built and managed by a private company before transferring to the Royal Government. It will be developed by the China Road & Bridge Corporation (CRBC).The whole project will cost a total of about $1,900 million. According to minister Sun Chan Thol, this new project will be serving as a significant, convenient, and fast transportation means for both locals and international visitors moving between the two areas.  National Road Project No. 11 Between Neak Loeung and Tnal Toteung:   This infrastructure project aims to restore the existing National Road No.11 from Neak Loeung to Tnal Toteung that’s developed and managed by the Kwangchow Van An Construction Management Company. The project will cost approximately $98 million and will measure 96,481 kilometers in length and a road width of 11 meters. The Bridge Construction Project Across the Mekong River Kroch Chmar – Steung Trang:This infrastructure project will build a bridge across the Mekong River in Kroch Chmar district, Tbong Khmum province all the way to the Stueng Trang district in the Kampong Cham Province. This project will cost a total of $57 million. It will have a length of 1,131 meters and a width of 13,50 meters.It’s important to note that along with the construction of the bridge, there is also another project being planned as a technical control project over a the bridge in order to control other technical aspects that will be done in cooperation with the Kwangchow Van An Construction Management Company.Among the 31 points in the agreement and the memorandum of understanding between Cambodia and China, there will also be more agreements for other real estate and infrastructure developments that will be done successively in the future such as: Exchange of Note on the Construction Project for Medical Center Cambodia - China Chinese Yuan Loan Agreement for the construction of Road No. 51 Concession Agreement for the development of the Siem Reap - Angkor International Airport Chinese Yuan Loan Agreement for the construction of Second Ring Road City Protocol Agreement for power plants, operating by coal, 450MV power in Sihanoukville Keep up with the latest infrastructure news on Realestate.com.khClick here to download your free copy!

A study of the Cambodian condominium market shows that buyers and developers often forget to take into account the internal regulations and the management of a condominium before purchasing or selling condominium units.Failure to do so can strongly affect the real estate asset, as internal rules and condominium management can have significant impacts on the value of the units.Some clarifications on the Condominium Law in Cambodia:Since the enactment of Sub-Decree No. 126 on the Management and Use of Co-Owned Buildings, dated 12 August 2009 (“Sub-Decree No. 126”), and the Law on providing Foreigners with Ownership Rights in Private Units of Co-Owned Buildings, dated 24 May 2010, the development of condominiums have significantly increased in Cambodia and, in particular, in Phnom Penh.Indeed, many developments, driven by international and domestic developers, have already been completed and many others are currently in construction with plans to be delivered in 2017 and 2018.  As a consequence, the real estate market in Cambodia provides potential buyers with a lot of options. However, before deciding to purchase, any potential buyer will have to consider various factors, such as the location of the condominium, the description and quality of the materials used, the size and price of the unit, the identity and experience of the developer, and the construction insurance policy.Two others factors, often forgotten, must also be reviewed as they can have a significant impact on the value of the unit and on the sought-after quality of life in a condominium: the internal regulations and the management of the condominium.The internal regulations are essential for a condominium and that is why these regulations are compulsory towards all current and future unit owners. They define the rules of life within the condominium and, in particular, the organization and functioning of the condominium on both legal and practical levels.The purpose of the internal regulations are also to set out the rights and obligations of the unit owners, to define the common areas and the private units and determine their conditions of use, to organize the management of the condominium and determine how expenses, in particular related to the cleaning, maintenance and repairs of the common areas, will be shared by the unit owners.The Royal Government of Cambodia understands that the internal regulations must be reviewed by a potential buyer before that buyer may decide to purchase a unit. Indeed, Sub-Decree No. 126 provides that the internal regulations must be issued at an early stage of the project (i.e. “before announcing the sale or rental of the private units of the co-owned building”)Another indicator of the importance of the internal regulations is the fact that they are required by the Land Office for the registration of the condominium and the issuance of the title certificates for each unit.Therefore, developers and buyers cannot overlook this document which will be in force during the whole life of the condominium and which may be used to resolve many issues which may arise between unit owners in a condominium or between a unit owner and the condominium itself.  It is, therefore, important that the language of the internal regulations be comprehensive and precise to allow for the amicable and efficient resolution of any problem that may arise. Sub-Decree No. 126 provides in its appendix a template of internal regulations.However, this template is very brief and fails to cover many topics such as the use of the common areas, the creation of a contingency fund, the security of the condominium, the powers and responsibilities of the management board, the holding and decisions of the general meeting of the unit owners, and the insurance policies of the condominium, etc.Consequently, it is highly recommended for developers to request the assistance of a professional (especially lawyers) for the drafting of their internal regulations in order to have a clear and comprehensive document. This will improve significantly the quality of the condominium and will surely give comfort to potential buyers.Furthermore, it is also recommended, before purchasing or selling in a condominium, to take into account its management.Indeed, proper management is essential for the good and efficient operation of the condominium so as to not negatively affect the value of the units.Sub-Decree No. 126 provides that a condominium should have a management board or an executive committee set up to manage the condominium but the sub-decree does not specify when the committee or board should be set up and if they are able to delegate their powers. Therefore, the unit owners are free to choose their mode of management and to organize it in compliance with their internal regulations.Generally, two options are offered to the unit owners for the management of their condominium. Unit owners can decide either to assume the management functions themselves or they can decide to appoint a third-party property manager who will bring its knowledge and professional expertise.We have seen in Europe, America and Asia, many cases of bad condominium management due to a lack of qualifications and experience. In these cases, the cleanliness, the maintenance and all necessary repairs and works may not be carried out in time. This always leads to deterioration or damage to both the common areas and private units. This will, of course, ultimately increase the expenses for the unit owners compared to the sums paid for proper maintenance and timely repairs.  We are also aware of many cases where the fees are not collected on time or where many mistakes have appeared in the accounts of the condominium or where inaccurate budgets have been adopted.All these examples of bad management have always for consequence an increase in the expenses and stress for the owners of units and a decrease in the value of the units. This also almost undoubtedly leads to a unit owner who wishes to sell or rent the unit receiving lower value than where proper management is in place.  Therefore, it is recommended to appoint to management qualified people who have the experience and systems in place to handle financial, legal and technical issues and have resources and relationships to ensure that the condominium runs efficiently.The duties and obligations of the property manager will depend on its mandate and the provisions of the internal regulations. A property manager can be responsible for day-to-day management duties, including ensuring compliance and enforcement of the internal regulations, carrying out the technical management and all necessary maintenance, work and repairs, preparing the agenda for the general meetings and the annual budget of expenses and collecting the condominium fees from the unit owners.In conclusion, we would like to highlight that the drafting of the internal regulations and the right management choices are crucial in order to preserve the value of the condominium units and to ensure that the building runs successfully. A high quality condominium building alone is not enough to attract quality buyers and to provide the sought-after quality of life in a condominium.  Clear and comprehensive internal regulations linked with highly qualified management and a high quality development will attract investors and tenants.ON THE AUTHORSING Sophealeak and Charles AMAR, lawyers at Bun & Associates, advise domestic and foreign clients seeking expert advice and innovative solutions in dealing with significant and complex transactions involving both raw and developed properties.  Their work includes advising on all issues relating to real estate investment, project development, construction, asset management. Our real estate team has also hands-on expertise and experience in advising clients on matters related to economic land concessions, special economic zones, agriculture, the environment and mining.For further information, contact: Fax: +855 23 999 566Telephone: +855 23 999 567Website: www.bun-associates.com E-mail: ing@bun-associates.com / amar@bun-associates.comAddress: Bun & Associates#29, Street 294, Phnom Penh, Cambodia, P.O. Box 2326This publication is for your information only. It is not intended to be comprehensive and it does not constitute and must be not relied on as legal advice. You must seek specific advice tailored to your circumstances. Any use of the information contained in this article or the receipt of this article is not intended to create nor does it create a solicitor-client relationship between you and Bun & Associates. Unless otherwise indicated, Bun & Associates owns the copyright of this article. If you seek to reproduce or otherwise use this article or any part of it in any way, it is your responsibility to obtain approval for such use where necessary.Interested to purchase properties with high appreciation poteential? Check out our investor guide on the topic!

Serving as a stronghold for political and economic stability for seven decades, the Kingdom of Thailand is now at a standstill as it grieves the loss of King Bhumibol Adulyadej – the world’s longest serving monarch. The King, who also served as Thailand’s main father figure, passed away yesterday at 2:52pm, Thailand time. The Royal Household Bureau characterized it as a peaceful death.Dealing with Uncertainty:Meanwhile, as crowds gathered at the hospital to show their sympathy, many are also concerned about economic changes arising from a new leadership. The King’s governance had brought about both political and socio-economic stability for the past decades. Some fear that foreign property investors in Thailand, a traditionally popular market in the region with attractive returns on investment, will see this small window of uncertainty as a foreshadowing of a decline in the market.Alex Evengroen, ceo of real estate firm Key Real Estate Co., Ltd., weighs in on the situation and says, “The challenge in Thailand’s real estate industry will be to keep improving and moving forward for foreign as well as for the local investors in Thailand. We will have to wait and see if in the near future the policies in Thailand will stay as it is or will become more flexible for people worldwide.”Property Investment Moving With or From Thailand?Although mixed perspectives are being drawn from this unfortunate event, some experts are hinting that potential investors may choose to place their money in nearby emerging countries like Cambodia until these uncertainties are eliminated and stability is once again ensured.Bobby Peoples, Country Manager of HomeConnect  Cambodia – a premier expat home search company – explains, “Due to the death of King Bhumibol Adulyadej, the military junta must show the Thai people during the following period of uncertainty that they can provide security, stability and political reconciliation. If they fail, both Thai investors and foreigners looking at property investment in Thailand may look to Cambodia as a safer option. Although this remains to be seen.”Evengroen, however, remained skeptical. He explains, “As a specialist in the Real Estate industry I do not think it will affect the Real Estate market in Cambodia due to the fact that not many Thai investors or homebuyers have invested in the real estate sector in general.”But Evengroen remains hopeful. He continues, “I hope that in the near future both countries will come together and discuss potential opportunities for the industry what hopefully will improve the ties and strengthen relationships for the future.”The world has lost a great man, and Thailand has lost the father of its people, but is it also about to lose an economic battle? The next few days are critical, and people will be at the edge of their seats, anxiously waiting as Thailand enters into a new chapter of its history.  Keep up with the latest real estate news, every day of the week!Click here to download your free copy!

Within the past two decades, different forms of land titles have popped up. Transactions have made a steady change as a result of that.And Grant Fitzgerald – Country Manager of IPS Cambodia – gives a bit of an overview on each type of title during his recent talk with Realestate.com.kh.Soft Land Titles in Cambodia:Fitzgerald mentions that soft titles are the most common form of land ownership. Around 85 percent of all properties in Cambodia are owned through a soft title and are registered both at Sangkat and Khan – council and district – levels only. He mentions that soft titles are transferred in less than 10 working days at a low cost.Hard Land Titles in Cambodia:Fitzgerald explains that hard titles are “the strongest form of ownership here in Cambodia.” Hard titles are registered at a national level – through the Ministry of Land Management, Urban Planning and Construction. Transfer of hard titles are done at the cadastral office and usually takes 12 weeks to complete. You also have to pay a 4 percent transfer tax.LMAP Land Titles in Cambodia:Fitzgerald explains that the LMAP or the “Land Management and Administration Project” came into existence in 2002 with the help of the World Bank. He says that the project was designed “with the idea of improving the quality of the information on the property titles here in Cambodia.”Similarly, the transfer costs and timeframe are almost the same between LMAP titles and hard titles. The difference though is that LMAP titles are anchored on GPS points and are aimed towards more rural geographical locations.Co-ownership “Strata Titles”:Fitzgerald explains that “strata titles are available for foreigners, where the others aren’t.” He also mentions that strata titles have a much more specific set of qualifications. Among these qualifications is the restriction of foreign ownership of up to only 70 percent of a building, provided that it does not touch the ground floor. It’s only applicable for buildings built after 2010 and should not be within 30 kilometers of any national border.Strata titles are also recognised at the Ministry of Land Management, Urban Planning and Construction.  And both transfer time and transfer costs are similar to Hard titles and LMAP titlesCheck out IPS properties for sale and rent on Realestate.com.kh today!

Siem Reap is a relatively small town with big benefits, having a wide variety of properties such as villas for sale and villas for rent around the area. This is according to the Independent Property Services Country Manager, Grant Fitzgerald, during his interview recently with Realestate.com.kh. He also gives a brief background and what he thinks about the villa market in the Siem Reap area.Are Villas in Siem Reap Readily Available?Fitzgerald says there are a lot of affordable villas here, some with a gardens and two to three bedrooms. These start at about $450 per month. Adding amenities such as a pool would increase this to around $1,200 a month. He adds that there are also new standalone villas, as well as villas inside gated communities - boreys - that are also coming up. He describes them as having gardens, pools, parking spaces, security, and being well-designed. These, according to him, makes Siem Reap an attractive area for both locals and expats looking for the villa life.Why Are There More Villas in Siem Reap Than Phnom Penh?Land prices remain lower in Siem Reap, according to Fitzgerald. This makes it affordable for expats and locals who plan on owning family-oriented properties. He also says that Siem Reap has traditionally been a relaxation and vacation destination for locals and expats. Holiday homes owned by locals in Siem Reap become rental properties for most of the year that the family isn't using it. These properties become rental villas, usually targeting affluent expats, for additional income.What Are the Pitfalls of Buying or renting villas in Siem Reap?Amidst the positive outlook towards villas in Siem Reap, Fitzgerald says that the major drawback of purchasing a villa is the maintenance and utility costs. Comparing it to the serviced apartment market, he states that there’s a huge responsibility that comes with villas. People don’t realize how much work, time, and money they are actually supposed to put into the property in order to maintain it. This task is even bigger when you decide to take on a villa with a pool or garden.Find the best villas in Siem Reap now! villas for sale and villas for rentClick here to download your free copy!