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Rental Guide

City Living: Finding your new address in Cambodia

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Moving near the Central Business District could be such a chore, yet a good thing for some. With the demands of this era’s on-the-go lifestyle, it is no surprise how some people end up trotting from one district to another—either to keep up with the fast pace of city living or to take a breather and slowdown in the suburbs. Whether you’re changing zip codes for work or pleasure, here are some questions you have to consider when finding a new address in the city.   Can I afford it? While the posh central business district of Phnom Penh is attractive for each city dweller, not everyone can afford living in Cambodia’s capital. Check your budget and scout for cheap yet comfy houses near the CBD’s vicinity to score a good deal. Reliable online listings like IPS Cambodia is a gold mine for everyone looking for a new home in the country. Is the city accessible? Long-term or short, make sure that your new city has access to everything you need. Hospitals, schools, and offices are the nitty-gritties. Malls, parks, and other leisure establishments are a big plus. For expats, check if the city you’re eyeing has access to your …

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Considering Relocation: Three Points to Ponder When Moving To A New Place

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With Cambodia’s continuous hustle and bustle, it is no surprise how every basic necessity has been innovated to keep up with the needs and wants of every on-the-go city dweller. Need a quick bite before a meeting? Street food carts got you covered. Car won’t start and you need to be somewhere? Tuk-tuks and motodops to the rescue! Need data ASAP? Thank God for $1 cell cards! Indeed, modernization has helped make people’s lives easier. But what if, despite all the comforts of the modern society, you still find yourself uncomfortable because the neighborhood you’re in does not match your personality? What if, despite the convenience of transportation, you still can’t enjoy the easier commute because of the long travel hours? Or simply, what if, despite your condo being near your workplace, you find yourself living from paycheck to paycheck because the monthly rent keeps you from making ends meet? Read also: Relocation Guide to Cambodia: 10 Things to Consider When Moving to the Kingdom of Wonder If you said yes to one of these questions, it might be time for you to consider relocation. We have listed three points to ponder when moving to a new home. Accessibility  Aside …

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IPS Siem Reap Exclusive Listings: Properties You Won’t Find Anywhere Else

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They say that first impressions are important because they are the most lasting. When in Siem Reap, you can easily spot unique properties that is not only visually satisfying, but also easy on your pockets.  At IPS, we pride ourselves by understanding the essential requirements of buyers and renters in an overwhelming real estate market. In this article, we have handpicked small and medium sized apartments that IPS manage across Siem Reap. You can consider this as an insider guide when picking your next home. If you’re especially curious on the murals inside Pagodas and fancy the mixture of different religious architecture – Wat Bo is the place for you. Recently opened in late 2015, Mony Ratanak Apartments offers a full range of amenities and services including an action pool, tuk-tuk service, gym, and 24h security. One bedroom units are available at 600 USD per month up to 1,500 USD for a luxurious 2 bedroom sky-flat. IPS’ Property Management Officer, Kunthea Hem believes that the apartment gains its success through a balance between quality service and the diversity of the tenants that occupies the premise with more than 10 nationalities that are mostly young professionals or businessmen with their families. …

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A Brief History of Cambodian Property Law

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In the first of a series of informational articles for property investors, General Manager Grant Fitzgerald offers a clear view of an investor’s legal rights. When it comes to property ownership for foreigners, there’s a lot of misinformation out there. It’s easy to see how investors looking to profit from the rebuilding of Cambodia, particularly the thriving capital, can be misled.On one side, investment can be deterred by unnecessary pessimism that insists the market lacks security, while on the opposite side, we see the dangers of over-optimism and a lack of due diligence. With the exception of condos,  foreigners are not allowed to own property in our own name whether it be a ground floor, first floor, second floor apartment, a villa, land or any other type of property you might come across. Yet this fact doesn’t stop major investment pouring into the nation’s property market, and without that influx of capital, Phnom Penh’s skyline wouldn’t be changing so rapidly. Article 44 of the Cambodian Constitution states:‘only natural persons or legal entity of Khmer nationality shall have the right to land ownership. Legal private ownership shall be protected by law’. So how can so many foreign investors be profiting from …

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Market Update

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The past six months has seen a continued softening in the rental property market. The weakness has been experienced in all rental categories, with the middle and top-end categories experiencing reductions of up to 20% and the low-end property sector absorbing up to 15% reductions in rental returns. So does this mean there are some bargains out there? Maybe. Quality western style housing is still holding its own due to a lack of supply but with some large projects due to be completed at end 2016 we could see a supply shift impacting negatively on rental prices (from the owners’ viewpoint). Some recent examples highlight the current market movements. A high-end Villa located in BKK1 was returning $4,500 per month until lease end three months ago; the property has been viewed by a number of punters with the property recently leased for a two year period at $3,800, a little over 15% below the previous contract. The trend is not isolated to the top end of the market. A block of flats consisting of quality one bedroom apartments has been receiving average rentals of $650 per month; we are now marketing recent vacancies at $550 per month, a decrease of …

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Renting a Villa in Phnom Penh – The Unattainable Dream

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 A new year spells the beginning of a new chapter for many peoples’ lives. For some it marks the start of a new job and relocating to a new country. Those who are lucky enough to make the move to Phnom Penh are met with mixed feelings of excitement and trepidation of what to expect. When it comes to meeting the housing requirements of new arrivals, IPS spend an inordinate amount of time scouting for properties… and curbing new arrival’s expectations. Many expats have visions of moving to Phnom Penh and settling in to a large, French, colonial villa with open spaces, leafy garden and a swimming pool, in the heart of the city. There is also the belief that these types of houses are in abundance, and still relatively cheap. This unfortunately is a myth. One that is peddled by the few lucky residents of these houses who are still living on leases they signed 5 years ago (who have been shielded from the property price explosion in Phnom Penh). The myth is also perpetuated by those who reflect on living in Phnom Penh over a decade ago when the rental landscape for this type of property was vastly …

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Phnom Penh’s Changing Rental Market

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Phnom Penh has always had a transient expat population, even more so than its South East Asian neighbors. With NGOs, embassy’s and multilateral organizations employing such a large proportion of the work force, typical employment contracts lasted one, or two years at most. A twelve-month lease contract suited both tenants and landlords, alike: It gave tenants the security for the term of their stay in Phnom Penh and landlords were able to increase prices with ease, as the next round of workers entered the country. The rental market in Phnom Penh has changed dramatically over the past three years with a number of high quality developments coming to market. This has coincided with the reduction in aid spending around the world. As a result, the employees at NGOs and other Aid organizations have less job security; shorter contracts and their living allowances have not kept pace with inflation. Landlords have to adjust to this change and we are seeing more competition between landlords to secure long-term tenants. We are also starting to see more flexibility and sophistication in lease contracts to match the uncertainty in employment. It is taking some time for this adjustment, but the landlords that provide flexibility …

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Unlicensed, online agents under scrutiny

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Unlicensed, online agents under scrutiny Thursday, 23 July 2015 Charles Rollet – Phnom Penh Post   The government’s ongoing campaign to crack down on unlicensed real estate players has shifted to the online world, although whether that will be enough to clean up the sector remains to be seen, according to industry insiders. The Ministry of Economy and Finance traditionally issues real estate licenses for individuals and property firms, but unlicensed agents have long plagued the property industry by creating unfair competition, registered agents say. “Licensed agents have to pay tax, [but] they just take the money without paying, so the rates they charge is cheaper,” said Nguon Chhayleang, CEO of Century 21 Regent Realty. Although they may be cheaper, unlicensed agents are also more prone to taking part in scams and because of their unregistered status, are much harder to hold accountable. To end this impunity, the government has been finding real estate agents’ listings online and seeing if they are registered with the government. Keuk Narin, a local real estate analyst who runs the property website MLS Cambodia, said he had received notice from the Ministry earlier this month about unlicensed agents using his site to promote properties. “The …

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Watch our Promotional Video

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If you are currently looking for a new home in Cambodia but are tired of walking the streets looking for those elusive “for rent” signs, we can help you find the properties you want from the comfort of your home or office. Email us at inquiry@ips-cambodia.com or call us on +855 77 959 861 and let us know what you need.

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Condo supply to impact the rental market

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Future condo supply to impact the serviced apartment market In the first half of 2015, the supply of serviced apartments saw an increase of 14 per cent when compared to the same period last year while rental prices remained stable. According to a recent report from CBRE Cambodia, a total of additional 349 serviced apartment units will serve the market by the middle of 2016, with 5797 units present and 11 condo projects underway. The occupancy rate of serviced apartments declined from 90 per cent to 70 per cent at the end of 2014. However, in the second quarter of this year, it grew 80 per cent with the rising per cent of serviced apartment supply. A typical serviced apartment provides an array of amenities. Photo Supplied Ann Thida, associate director of CBRE Cambodia told Post Property via email that despite the increasing demand, leasing prices for serviced apartments remained stable. She added that 90 to 95 per cent of tenants are foreign investors and foreign professionals from Europe and Asia. A service apartment unit differs from a condominium with the services and amenities they offer, such as 24-hour staff and extra security. Entering the lobby of a serviced apartment …

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