In case you had not noticed or don't get around the PP city much , there is a continuing building boom going on with as many as 100 cranes dotted on the sky line. One might ask who is going to buy all these apartments etc when they are finished. But for those of you that were around in the early/mid 2000 , remember all the shop houses that were being built, and we [ including me ] said, who can afford to buy these new s/houses when factory workers were only getting $65 per month and m/dops were only earning $1 a day. Who would give them loans to buy ? Well go look for those empty shop houses now. We also said the when the ANZ Royal started business here they would not last against the 5 or 6 other banks in Cambodia [ Again , I will have to eat my own words ] More recently , who said that Cambodians will never live in apartments like those in the Rose Building cause they like to live on the ground floor where they can park their motorbikes.

Now lets talk about busts. Like before, there will not be a building bust, just a slight, hiccup post elections, then it will be a continuing race to build more and more ,bigger and bigger. Build it, and they will come.

no way jose, $5000 - $6000 per sqm? i have to be crude here, phnom penh aint no london, new york, paris, tokyo, shanghai or singapore, not even close to kuala lumpur or bangkok, only 2 types of people benefit from this madness, land owners and developers, people who bought in at this ridiculous price will learn their lesson soon enough, especially when cambodia starts using loans to finance their houses.

bubbles have not bust yet is because most people bought using cash, they have holding power, bubble burst when most buy on credit.

I have to tentatively agree. I've been to tons of condo developments and they're selling like hotcakes. It's quite surprising, but not that much considering the lack of quality housing. I personally can't see myself buying one because frankly speaking, they don't represent much value for your money as a foreigner. They go for around the same price as condos in my home city, so I don't see why buying here is a good idea unless you need to spend some laundered money or buy a place for your mistress. Still, the place is changing quickly and nothing will slow it down. Perhaps a hick in five years, but not anytime soon. Foreign investment in the sector is still pouring in at an astounding pace.

Bitte_Kein_Lexus wrote:Foreign investment in the sector is still pouring in at an astounding pace.

when IMF tightens cambodia banking laws on money laundering (after panama fracas) and world economy tanks and those investment starts pulling out to shore up their own finances, rental collapses follows by price collapses follow by default rises...

OMG i need a stiff one now

bolueeleh wrote: OMG i need a stiff one now

....said the actress to the bishop.

Money laundering.

I hear this a lot. Can someone explain how "dirty money" buys land and why don't hey just stick it in a bank to get interest?

Or just buy land and not bother to build?

Like any Cambodian bank will give a toss where it comes from.

Sent using Tapatalk on Leagoo Elite 4

SinnSisamouth wrote:Money laundering.

I hear this a lot. Can someone explain how "dirty money" buys land and why don't hey just stick it in a bank to get interest?

Or just buy land and not bother to build?

Like any Cambodian bank will give a toss where it comes from.

Sent using Tapatalk on Leagoo Elite 4

1 - bank "supposedly ask for source of income
2 - buy land and build something and declare profit, thus dirty money become clean money

ofc in between is much more complicated, i.e. first trsf money thru shell companies, after trsf close shell company, shell also declare profit and tax, 1 shell company sell to 2nd shell company and declare profit, open shell company in offshore accounts, ya dee ya da, shall bore everyone with details

bolueeleh wrote:

SinnSisamouth wrote:Money laundering.

I hear this a lot. Can someone explain how "dirty money" buys land and why don't hey just stick it in a bank to get interest?

Or just buy land and not bother to build?

Like any Cambodian bank will give a toss where it comes from.

Sent using Tapatalk on Leagoo Elite 4

1 - bank "supposedly ask for source of income
2 - buy land and build something and declare profit, thus dirty money become clean money

ofc in between is much more complicated, i.e. first trsf money thru shell companies, after trsf close shell company, shell also declare profit and tax, 1 shell company sell to 2nd shell company and declare profit, open shell company in offshore accounts, ya dee ya da, shall bore everyone with details

yeah plus who wants to give banks money, fuck the banks, if i had a big enough mattress to keep all my millions of dollars under without the hooker i took back for the night becoming suspicious then thats how id store my money!


Sent from my laptop via Tapakeyboard just to annoy Rutiger.

ooh thats better,that tapatalk correct end my gramner and spelling way too much!

im not convinced that money laundering goes on as much as people think or claim

banks in Cambodia dont care where money cones from

I think its just bad business

SinnSisamouth wrote:ooh thats better,that tapatalk correct end my gramner and spelling way too much!

im not convinced that money laundering goes on as much as people think or claim

banks in Cambodia dont care where money cones from

I think its just bad business

i dont use tapatalk as i only use the forums on my laptop...



Sent from my money laundering den via fuck the banks/taxman just to annoy Rutiger.