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Green and blue mesh cover buildings under construction in Phnom Penh. Heng Chivoan

Experts and investors in the property sector are optimistic about the growth of the Kingdom’s real estate market in 2018 and have expressed confidence in the sector’s viability.

According to Ann Sothida, country director of CBRE Cambodia, an additional 13,000 condo units are expected to enter the market in 2018, which will attract new investment and enlarge the local rental market. Office lease demand remains healthy, with B-grade and C-grade buildings in high demand. The retail sector is also doing well, with two international shopping malls scheduled to open their doors this year.

“I think FDI flows are still stable, not plummeting, and this market is absorbing a lot of interest, helping to make the buying and selling of houses and boreys [gated communities] more profitable,” she said. “Boreys now have reasonable prices and the buying trend is still doing very well as boreys focus on local buyers.”

Grace Rachny Fong, executive president of Century21 Cambodia, said the real estate market has not changed since 2017. Two large projects will be launched this year that will solidify the market, she added, without naming the projects.

“Looking at FDI flow, I think it is stagnant and may represent a slight decrease, since investors from Europe have shown concerns,” she said. “However, investors from Asia are still coming here.”

Chrek Soknim, CEO of Century21 Mekong, said 2018 could prove difficult due to the upcoming national election and real estate prices having already peaked. He said it was unlikely that prices would rise beyond their current levels.

“Land prices will not drop, but it’s hard to sell land because the number of buyers is not increasing much,” Soknim said. “Even if prices drop they will not fall as much as they did in 2008 because in 2018 investors are using loans from banks. After 2008, investors focused on buying using cash.”

“The condo market is not at risk,” he added. “The amount of locals buying condo units has increased by 5 percent if we look at the total purchase and sales figures.”

Kim Heang, president of the Cambodian Valuers and Estate Agents Association, said he expects the price of land to change because in the last few years sellers have been able to set their own prices. Now, buyers are dictating the prices.

“The housing market is still doing well, but reasonably priced houses are in high demand,” he said.

Ly Hour, president of the Housing Development Association of Cambodia, said investment in the construction and real estate sector remained steady. Affordable housing is still in demand and the sector will continue to attract both local and international investors.

“Everything is still doing well this year, from local investors to the influx of international investors,” he said, adding that Chinese, Korean, Japanese and Singaporean investors are still coming to Cambodia.

Source From : Property Area

 

 
A new prakas requires all signage at real estate construction sites to be written in Khmer language, which could reduce confusion and ambiguity. Moeun Nhean

The government has issued new regulations that require and define the use of Khmer language on signs, banners and announcements displayed at construction sites. The move is ostensibly aimed at promoting national cultural identity, but could also help local buyers see past the poorly scripted, confusing and often deceptive claims that appear on signage at construction projects, which until now has never been inspected or restricted by any authority.

A prakas issued by the Ministry of Land Management, Urban Planning and Construction late last month lays down new rules on “the use of Khmer and foreign literature on construction banners or advertising signage at construction sites”. The regulation states that all information on banners or advertising signage at project sites must be written in Khmer language based on the standard Choun Nath dictionary. The Khmer text on the signage must appear above any translation into foreign languages, and must be at least twice the size of the translated text.

The prakas addresses a long-standing issue in the real estate sector, where many of the signs and banners erected at project sites include confusing statements and mistranslations written in foreign languages.

In October 2017, Post Property reported that XO Condo project was advertising “Buy 1 Unit Free 1 Unit” on a billboard erected at the project site in Phnom Penh’s BKK1 neighbourhood. When asked, a sales representative clarified that the company was not offering a free unit to customers who purchase a unit, but rather would provide a unit for customers to live in until their unfinished unit in XO Condo is ready for occupation. ​

Source From : Property Area

 

 
A small boat lies anchored next to Koh Por island near Kep. Moeun Nhean

The Ministry of Land Management, Urban Planning and Construction will send experts from its Cadastral Survey Department to study the investment potential of 75 islands that lie off Cambodia’s coast.

Chea Sophara, minister of land management, urban planning and construction, said during the ministry’s annual year-end review in December that the ministry intends to send a delegation to the islands by May 2018 to study the potential of each island.

“We must not be proud about visiting other countries’ islands,” he said. “What is important is that we know the islands of Cambodia, which are better.”

Sophara said the delegation would study the investment potential of the islands and their capacity for development. He added his ministry would take strict measures to prevent unlicensed construction.

“We forbid any construction without authorisation in order to avoid demolition after construction,” he said.

Only a handful of islands along the coast are being developed, including Koh Song Saa, Koh Russey, Koh Krobey, Koh Sdach, Koh Rong, Koh Rong Samloen, Koh Thansour, and others. The government has already offered land concessions to local and international investors to develop the land.

Ho Vandy, an adviser to the Cambodia Association of Travel Agents, said the islands have a high potential as tourist destinations, but would need to be developed in order to realise this potential. He warned, however, that investors had to consider environmental sustainability and avoid building anything hazardous on the islands such as petrol stations.

“We welcome development, but it is crucial to preserve the environment to ensure sustainability so that we can all benefit from the development,” he said.

Yon Min, governor of Preah Sihanouk province, said the province has 32 islands, some of which are being developed. Many of the islands, he said, have a strong potential for tourism because they boast beautiful beaches and coral reefs.

“If there is really going to be a study on the potential of the islands, it will be a great thing and the province fully supports this,” he said.

Source From : Property Area

 

The marketing of condominiums and apartments in Cambodia is becoming increasingly challenging as supply swells and rental prices come under pressure.

A new report by Bonna Realty Group found that the total supply of apartment and office units in Phnom Penh increased by 20 percent last year while average rental prices fell by about 8 percent.

Noun Rithy, CEO of Khmer Foundation Appraisals, said this week that while rental supply increased significantly last year the decrease in rental prices was relatively small and not something to worry about.

“I still see positivity in this sector as more foreigners are coming to Cambodia, especially investors,” he said.

According to a recent report by CBRE Cambodia, some 1,200 apartment and condo units were added to the market in 2017, increasing the total supply to nearly 8,000 units. With more units due to come online in 2018, CBRE country director Ann Sothida expects competition to intensify in the market, though rental prices appear to be holding their ground.

“This year, the service fees on apartments for quality, services and management will be extremely competitive,” she said.

Sothida insisted that rental rates on apartments were not falling, but noted that many renters were choosing condo units over apartments due to lower service fees. Whereas the monthly rent on a condo unit might be $15 per square metre, it could range from $18 to $25 per square metre on a comparable apartment unit.

Grace Rachny Fong, executive president of Century21 Cambodia, said that while the rental prices of apartment and condo units in the capital remain high, those located far from the centre or without high-quality amenities and infrastructure are struggling to find new tenants.

She said units in the capital’s upscale Boueng Keng Kang 1 neighbourhood, mostly top-tier Grade A and A-plus quality – are consistently fully occupied with embassy officials, company executives and staff of international organisations.

“It has been a bit hard for Grade A apartments to find tenants as they are pricy, however the A-plus and B grade units are still doing well in the market,” she said, adding that these units tend to attract expats who come to Cambodia with their families for work and stay for a long period of time. ​

Source From : Property Area

 

 

ភ្នំពេញ៖ បរិយាកាសនយោបាយ និងតម្លៃដីធ្លី និងអចលនទ្រព្យហក់ឡើងខ្ពស់កប់ពពកសម្រាប់ឆ្នាំ ២០១៨ គឺជាក្តីព្រួយបារម្ភរបស់អ្នករកស៊ីអចលនទ្រព្យ និងអ្នកជំនួញ ដោយពួកគេគិតថា អាចនឹងមានបញ្ហាប្រឈមខ្លះសម្រាប់ទីផ្សារមួយនេះ ។

 

ក្នុងរយៈពេលប៉ុន្មានឆ្នាំកន្លងមកនេះ ត្រូវបានគេមើលឃើញថា ទីផ្សារអចលទ្រព្យបាននឹងកំពុងរីកចម្រើនយ៉ាងខ្លាំង លោក ច្រឹក សុខនីម អគ្គនាយ Century12 Mekong បានថ្លែងអោយដឹងថា សម្រាប់ឆ្នាំ ២០១៨ នេះ បានបង្ហាញថា អាចនឹងមានការលំបាកចំពោះការលក់អចលនទ្រព្យដោយសារតម្លៃឡើងថ្លៃកប់ពពក និងការបោះឆ្នោជាតិនឹងឈានជើងមកដល់ឆាប់ៗ ។ លោកបន្តថា តម្លៃអចលនទ្រព្យអាចនឹងហក់ឡើងខ្ពស់ជាងបច្ចុប្បន្ន។

លោកថា «តម្លៃដីនឹងមិនធ្លាក់ចុះទេ ប៉ុន្តែវាពិបាកក្នុងការលក់ចេញ ដោយសារតែចំនួនអ្នកទិញគឺមិនកើនឡើងច្រើន។ ប្រសិនបើតម្លៃដីធ្លីធ្លាក់ចុះ ក៏ពួកគេមិនទិញច្រើនដែរក្នុងឆ្នាំ ២០១៨ នេះ ព្រោះអ្នកវិនិយោគទុនឆ្នាំនេះ ប្រើប្រាស់ប្រាក់កម្ចីពីធនាគារ។ បន្ទាប់ពីឆ្នាំ ២០១៨ តទៅ អ្នកវិនិយោគនឹងប្រើប្រាស់សាច់ប្រាក់របស់ខ្លួនគេដើម្បីទិញដីធ្លី»។

 

លោកបន្តថា សម្រាប់ទីផ្សារខុនដូរវិញគឺមិនមានហានីភ័យទេ ព្រោះចំនួនអ្នកទិញខុនដូក្នុងស្រុកបានកើនឡើង ៥ ភាករយ។ នេះបើយើងមើលតួរលេខទិញ និងលក់។

លោក គីម ហ៊ាង ប្រធានសមាគមអ្នកវាយតម្លៃអចលនទ្រព្យកម្ពុជា បានអោយដឹងដែរថា តម្លៃដីធ្លីនឹងមានការផ្លាស់ប្តូរ ដោយសារតែកាលពី ២ទៅ ៣ ឆ្នាំមុន អ្នកលក់មានលទ្ធភាពកំណត់តម្លៃដីខ្លួនឯង តែមកដល់ពេលបច្ចុប្បន្ននេះ គឺអ្នកទិញគឺជាអ្នកកំណត់តម្លៃអោយវិញ។

លោកបន្តថា «ទីផ្សារគេហដ្ឋានគឺកំពុងតែមានដំណើរការល្អប្រសើរ ប៉ុន្តែគេហដ្ឋានដែលមានតម្លៃសមរម្យគឺកំពុងស្ថិតក្នុងតម្រូវការខ្ពស់»៕

Source From : Property Area

 

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