Rents in Phnom Penh plunge 20%
- Kung-fu Hillbilly
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Re: Rents in Phnom Penh plunge 20%
How many buttons, JB? And what do you get for your buttons?
I can feel a rent poll brewing. You can never have enough polls, innit?
- truffledog
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Re: Rents in Phnom Penh plunge 20%
I guess thats working expats (residing temporarily in Cambodia) working where the company pays the CIGNA type coverage or non residents that responded what they are paying living abroad.Kung-fu Hillbilly wrote: ↑Thu Feb 11, 2021 10:42 pmI'm often surprised by what people spend. In recent polls expats have disclosed they're paying over $7000 for insurancePhnom Poon wrote: ↑Thu Feb 11, 2021 10:33 pm who was paying nearly $3k for just an apartment, in cambodia?
work is for people who cant find truffles
- phuketrichard
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Re: Rents in Phnom Penh plunge 20%
if ur cooking at home, why would there be any difference?kritsana77 wrote: ↑Fri Feb 12, 2021 1:49 am I don't want to comment on the entire article. However, I constantly had stomach problems when I lived in LOS for 13 years . Constantly. However, I have been in PP now since August 2019 and no problems at all. I often cooked at home then as I still do today. Is it all MSG in Thai food? I don't know.
I used to have small acid indigestion and had to use Tums; cut out sugary drinks, cut down on bread and salt...
all is a good now
eat at home 90% of the time
FYI rents falling here in Phuket as well BUT ONLY on the top end / middle places, its all about covid and lack of customers.
There's some absolutely fantastic 4-5 bedroom, 6 bathroom, 2 pool homes overlooking the sea that were 120,0000 baht ( apx $4,000) and can be had for 80,000, ($2,600)
NO way i'd pay over $2,500 for an apt in PP regardless of what i was earning.
Last edited by phuketrichard on Fri Feb 12, 2021 8:43 am, edited 1 time in total.
In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
Re: Rents in Phnom Penh plunge 20%
And you were worried I would abuse my newly discovered techie skill!Kung-fu Hillbilly wrote: ↑Fri Feb 12, 2021 3:59 amHow many buttons, JB? And what do you get for your buttons?
I can feel a rent poll brewing. You can never have enough polls, innit?
Re: Rents in Phnom Penh plunge 20%
I would add that a fall in rents will mostly only occur when you move. Rents (and purchase prices) are notoriously well greased when on the rise, and very sticky when on the fall.
Landlords will be loath to reduce rents very much when you are in occupation. "I want a discount? No. Oh go on... No."
It is only when you serve notice and they realise you are serious will you have much leverage. If you landlord is Khmer, even this might not work.
Landlords will be loath to reduce rents very much when you are in occupation. "I want a discount? No. Oh go on... No."
It is only when you serve notice and they realise you are serious will you have much leverage. If you landlord is Khmer, even this might not work.
- armchairlawyer
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Re: Rents in Phnom Penh plunge 20%
When a sell-side realtor admits to any price falls at all, we know things are really bad in the market. When they admit to 20% falls, it's Armageddon!
- armchairlawyer
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Re: Rents in Phnom Penh plunge 20%
People who were not paying it. #expenseaccount.Phnom Poon wrote: ↑Thu Feb 11, 2021 10:33 pm who was paying nearly $3k for just an apartment, in cambodia?
- Clutch Cargo
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Re: Rents in Phnom Penh plunge 20%
Without me asking, the landlord dropped my rent last September amounting to -7.7%. I've been there over 4 years so I guess they don't want to lose a long term tenant. So hardly ground breaking reduction in the order of -20% but welcome nevertheless coz it shows they are reactive to market realities.
Then last month I noticed my electricity rate was dropped by 5c/kw amounting to -16.7%. Really happy with that coz the old rate was on the high side for a serviced apartment. I don't have plans to move out coz of the location so this is good.
However, I agree with Doc67..the bigger discounts are if you're looking now and in the higher price ranges. I reckon you could drive a hard bargain. Yet there is a reluctance to bring prices down for existing tenancies. I imagine the uncertainty as to when things get back to pre covid times is also a factor and they figure tenants are reluctant to go through the hassle of moving.
It's all a bit of a game really, tug of war between the landlord and tenant. I've heard a few stories about restaurant businesses with some landlords being accommodating for ones that are affected by the lack of tourists due to covid. Others will fight tooth and nail to not give in to reducing the rent. Comes at their peril though coz I know of 1 instance where they refused to reduce so the tenant didn't renew the lease and several months later the landlord has not found a replacement tenant and the shop is shuttered. And, when they were told the tenant was moving out, they were suddenly offering rent reductions...a case of too greedy and accommodating too late. I know another case where the restaurant tenant is thinking of bailing out on a lease for the same reasons.
Then last month I noticed my electricity rate was dropped by 5c/kw amounting to -16.7%. Really happy with that coz the old rate was on the high side for a serviced apartment. I don't have plans to move out coz of the location so this is good.
However, I agree with Doc67..the bigger discounts are if you're looking now and in the higher price ranges. I reckon you could drive a hard bargain. Yet there is a reluctance to bring prices down for existing tenancies. I imagine the uncertainty as to when things get back to pre covid times is also a factor and they figure tenants are reluctant to go through the hassle of moving.
It's all a bit of a game really, tug of war between the landlord and tenant. I've heard a few stories about restaurant businesses with some landlords being accommodating for ones that are affected by the lack of tourists due to covid. Others will fight tooth and nail to not give in to reducing the rent. Comes at their peril though coz I know of 1 instance where they refused to reduce so the tenant didn't renew the lease and several months later the landlord has not found a replacement tenant and the shop is shuttered. And, when they were told the tenant was moving out, they were suddenly offering rent reductions...a case of too greedy and accommodating too late. I know another case where the restaurant tenant is thinking of bailing out on a lease for the same reasons.
Re: Rents in Phnom Penh plunge 20%
If the ass wipes in charge would make it easier to pop over for a visit from Thailand, I would lend a hand by renting such a serviced apartment.
- Jamie_Lambo
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Re: Rents in Phnom Penh plunge 20%
you can stay at Nagaworld for $20 a night now lol
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