Condo For Sale in Phnom Penh (Chroy Changvar)

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SiloBob
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Condo For Sale in Phnom Penh (Chroy Changvar)

Post by SiloBob » Sat Oct 12, 2019 12:53 pm

100 sqm,2 bed,2 bath,10th floor with balcony & Mekong views
master bed 5.5 x 3.6m with ensuite
second bed 3.7 x 3.5m
wood floor
built in robes
air con & ceiling fans
gas cooking
large windows,lots of light
wood blinds & curtains included
Mekong View Tower 1, Keo Chenda St, Chroy Changvar.
$138,000
phone Ian 011911273 (English only)
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Duncan
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by Duncan » Sat Oct 12, 2019 2:45 pm

If I was an Australian thinking about buying a condo the very first thing I would look at is the Bodycorp agreement. This would tell the buyer,, who owns the land, who manages the building , what the fees are that EVERYONE pays for a monthly maintenance and if the fees can be increased,,, how often and how much money goes into a sinking fund for maintenance and major repairs in the future years. Can the body-corp or land owners sell or lease the management rights to someone else and will your agreement and fees still remain at the present level. Next on the list the body-corp agreement should spell out what happens if one or more owners do not contribute to the monthly maintenance costs and you end up with a bigger share of the costs, I'm sure a few thousand $ will solve the problem in a court dispute .

So the land owner decides to rip up the swimming pool cause the running costs are to high, and builds another ten stories of apartments to rent out,,, what do you do . Was there anything mentioned in you agreement that the nice view you have would be compensated for if it was blocked and you now have to look at a back of a ten storey building and all it's blue plumbing.

Then the condos that they manage are rented out to villagers and their families ,,, ten people to a room ,,, which lower the value of your condo , to the stage where you just want out, and will accept any low offer at all, so the land owner makes you a ridiculous low offer which you accept, cause you know you will not get another offer.
The condo you have just sold is rented out to more villagers and the other condo owners follow in your footsteps, and eventually the land owner owns all the condos, then reovates them all and sells them as the best deal in town to ????????? ......Another You



SiloBob ,,If YOU were an Australian, you would post a copy of the Body-corp agreement first, as this would give all intending buyers a chance to study it before wasting time in looking at condo that might be another nightmare.



Hey, That's my view and I'm' sticking to it.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Bitte_Kein_Lexus
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by Bitte_Kein_Lexus » Sat Oct 12, 2019 2:50 pm

That's a big condo. How old are the Mekong View towers now? I get all the names confused. Good luck with the sale.
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clutchcargo
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by clutchcargo » Sat Oct 12, 2019 4:35 pm

@Duncan In fairness to OP, and to put things into perspective, your genuine concerns would equally apply to all PP condo purchases would it not?
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Duncan
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by Duncan » Sat Oct 12, 2019 5:15 pm

clutchcargo wrote:
Sat Oct 12, 2019 4:35 pm
@Duncan In fairness to OP, and to put things into perspective, your genuine concerns would equally apply to all PP condo purchases would it not?
Yes , Definitely. I dont want to be unfair to OP on his first post, and would welcome any pics and comments on the '' body-corp '' agreement to help sell the property that he has advertised.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by willyhilly » Sat Oct 12, 2019 6:00 pm

No agreement in Cambodia is worth the paper it is written on. Is there even a body Corp, there is no legislation that I remember. The Body Corp are the owners who get to vote for a committee to make decisions about the building. Everyone has one vote but proxies can be harvested. Limited to two per owner I think.
It’s all pretty democratic with an executive of three. But with no legislation there are no rules. Buying into a condo woujd be madness, surely.
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by rogerrabbit » Sat Oct 12, 2019 7:16 pm

willyhilly wrote:
Sat Oct 12, 2019 6:00 pm
No agreement in Cambodia is worth the paper it is written on. Is there even a body Corp, there is no legislation that I remember. The Body Corp are the owners who get to vote for a committee to make decisions about the building. Everyone has one vote but proxies can be harvested. Limited to two per owner I think.
It’s all pretty democratic with an executive of three. But with no legislation there are no rules. Buying into a condo woujd be madness, surely.
There is a law in the making. Also the better condos (the developer is usually foreign based) they do have strict rules that state how many person can stay in unit, what happens when management fees are not paid etc. Each unit owner also has voting rights and a committee who makes decisions etc. Buying condo in a good project is not that madness really.
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by SiloBob » Sun Oct 13, 2019 7:20 pm

Hi people,SiloBob here...the good news is I'm dropping the price a bit to $135,000 ono as I'm leaving Cambodia after 3y,actually my second time here as I was living here in 2009 for 2y....a bit different then.

Mekong View Tower 1 was built in 2009 I believe,the same group is just completing MVT 6.

As for Body Corporate Agreements & the like,I think they are a bit thin on the ground in Cambodia.Some condos may have them but mostly I believe such legal constructs are not the norm.If you want to buy a condo you just have to accept that's how things are & plunge in.I have been here 3y & have not had any problems with management or facilities.The management fee is $70/mo,rubbish is collected on each floor everyday,public areas cleaned everyday & there is 24h security both outside & at reception.New lifts were installed this year (no cost to residents).There are quite a few expats living here,some for a number of years.In my opinion the management is doing all the right things by it's residents.

Other facilities I didn't mention in the ad are swimming pool,gym,underground parking,mart on premises,skybar & restaurant on 16th floor.

If you're in the market & the price is about right for you,come & have a look.Chroy Changvar is quieter,cooler & more open than the city & only 15m away.
SiloBob
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by SiloBob » Sun Oct 13, 2019 7:30 pm

I do have some photos of the condo but I couldn't figure out how to post them on the ad.

Mail me & I'll send them [email protected]
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Re: Condo For Sale in Phnom Penh (Chroy Changvar)

Post by beaker » Sun Oct 13, 2019 7:57 pm

1. Select 'Post Reply'
2.Then just click on the 'i' symbol with the green dot then select the picture you want to upload.

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