Phnom Penh’s Condominium market has boomed recently thanks to the increasing demand on housing of foreigners living and working in the Capital, the rising need of housing among the local population, the growing interest for buying condominium units as an investment, and the expected market demand bolstered by ASEAN market openness by the next coming year.
Though sales of condo units have been reportedly successful, the cultural shift of domestic home-buyers towards moving to condominiums is not a trendy movement, and this might need another decade.
However, condominium market is seen to be potentially successful within the context of the Capital’s development trend, when planning satellite cities are sprawling out to the outskirts to ease traffic tension. Within the central and commercial areas, Phnom Penh has been mapped out with high-rise development projects such as condominiums and commercial buildings to cope with increasing space limitation.

Source From: Century21 Cambodia

There is no connection between the thread title and the text (which is basically a Century21 ad).

"...the cultural shift of domestic home-buyers towards moving to condominiums is not a trendy movement, and this might need another decade." Sounds optimistic to me. How many condos are bought to actually be lived in vs. an investment - I'd love to know.

http://www.phnompenhpost.com/business/d ... ign=buffer

about damn time, 1800$ psm for the crap in PP is ridiculous, lets see how much hype the properties agents can blow this time round

For all you still don't understand it.. The prices in Phnom Penh are totally made out of thin air and speculation. Just go have a look in Diamond Island the Chinese kit buildings they are putting up are mostly empty..

and I not mean not occupied.. no The floors are empty and only concrete! They have just finished certain floors like for example the 10th floor and the 15th floor and the others they keep just concrete. and other floors they have done the corridors and front doors.. and behind those doors there is nothing! no walls yet no nothing! only concrete!

I have been in those buildings and because I was an over curious Mexican I went to the other floors without their permission after they said they would come back when I was left at the pool area.
damn their eyes were like they could kill me after they saw me again hahah but they didn't even know how much I have seen! because I was lucky to see some workers who left the doors open and most were sleeping anyway.

Also they have these paper lists with untits "sold out" and they told me oh no maybe we have still but we almost sold out.. reah right really redicilous their tricks!

they can build much faster but they are not spending here in cambodia they hire the cheapest of the cheap:

Not all condos are empty, I've shopped around PP quite a bit until I said bugger it all Im going to the countryside and many buildings were occupied which fully equipped rooms and decently furnished. That being said, many of those condos were bought as investments as well so as actual homes no. I remember a condo near russian market where over half of the units were for sale.

Why the hell anyone would invest here with legitimate money is beyond me though, just 10 years ago there was barely a half stable government.

SlowJoe wrote: ↑Tue Dec 25, 2018 4:08 pm Not all condos are empty, I've shopped around PP quite a bit until I said bugger it all Im going to the countryside and many buildings were occupied which fully equipped rooms and decently furnished. That being said, many of those condos were bought as investments as well so as actual homes no. I remember a condo near russian market where over half of the units were for sale.

Why the hell anyone would invest here with legitimate money is beyond me though, just 10 years ago there was barely a half stable government.

That's why it was a good time to buy and some of those that did have done very well. Ahem.

Hernández wrote: ↑Tue Dec 25, 2018 11:08 am For all you still don't understand it.. The prices in Phnom Penh are totally made out of thin air and speculation. Just go have a look in Diamond Island the Chinese kit buildings they are putting up are mostly empty..

and I not mean not occupied.. no The floors are empty and only concrete! They have just finished certain floors like for example the 10th floor and the 15th floor and the others they keep just concrete. and other floors they have done the corridors and front doors.. and behind those doors there is nothing! no walls yet no nothing! only concrete!

I have been in those buildings and because I was an over curious Mexican I went to the other floors without their permission after they said they would come back when I was left at the pool area.
damn their eyes were like they could kill me after they saw me again hahah but they didn't even know how much I have seen! because I was lucky to see some workers who left the doors open and most were sleeping anyway.

Also they have these paper lists with untits "sold out" and they told me oh no maybe we have still but we almost sold out.. reah right really redicilous their tricks!

they can build much faster but they are not spending here in cambodia they hire the cheapest of the cheap:

Which building was it? I can think one that could be this. But couple other buildings in Diamond Island that have been already finished are over 60% occupied and also +80% units are sold.

And how do you know they are sold or occupied? You trust those people on their word lol! or you have seen a list with red crosses sold or reserved

I never see lights buring and I seen a lot of those buildings from inside as well!

The standard trick here in Cambodia is to tell you that the sales are going so well and that they only have few left.. or they even say all is sold already.. to test if you really would have liked to buy... Than they say but maybe some room could become available.. to make you feel you are lucky and can still buy one lol.. This is their business model! I have seen it in Chroy Changva as well.. they kept marking units yellow from the Mekong View towers. But now you can see for example Mekong View II many floors not even built finished yet and the building material is rotting away on the side.. full with doors wood and so on.. I think I even have a pic somewhere in my old phone.

In the future they will keep building anyway.. in the riverside new buildings are blocked by the cartel Sangkats and the Kahn controlling them. Many stories there!

Take for example sun and moon, owner is an Ohkna even him had trouble getting that spot for the sun and the moon. they slowly bought up all those places and ofcourse nothing was said that a hotel would have been built..

there are also some smaller apartment buildings in the backstreets of the riverside area like 5 floors or so.. also they have to pay bribes to keep running there even when their property is all legal! I know this from the owners direct! I have stayed too often in those places.

Also all those people around that area want hundred thousends for their horrible most of them illegal rooftop houses. they don't realise it is a complete joke since you can buy citizenship in Europe or other parts of the world when you would only invest a few hundred k.

https://www.phnompenhpost.com/post-prop ... velopments

Here the Sino group from Hong Kong could not even sell more than 20 units! but it is a cartel you can not drop your prices because than you make the others angry they make the prices and they discuss them together you can not lower your price even if you are the Sino group or another big Chinese builder!
An employee involved in the project, requesting anonymity, told Post Property the company had halted sales and had already provided all buyers with a full refund. The given reason was that the project developers were going back to the drawing board to redesign the project. However, further details on what the redesign would entail could not be disclosed.

you will not find real info easily guys!

also who is going to maintain your apartment building? you think they have a collective for that? and even if they do you think they will spend that money.. ? Take a look at the CA& SA in Diamond Island for example the outside of the building is full with cracks and leaking and water is standing in some of the side barriers! Also it is full with rats in the basement and nothing is done about it. The manager is the biggest jerk ever and will laugh away all your complaints!

How are sales in that huge development on the Olympic Stadium land? Or the many places on Koh Pic? Some buildings will have done well, maybe in BKK1. What about the buildings around the Score Bar, how does anyone get a vehicle in or out of that street at anytime of day.

koh pich is diamond island you can read my post above about that one..

olympic area I only know the place is not much loved by locals so the prices should be low there.

Toul Kork I know that the chief of Toul Kork has a slightly different mentality and he want people to come building in his area that is why you can also see cheap apartments there. but this area is considered not good by many locals and seems not safe.

Also the Russian market area why can you find cheap apartments there.. well different building mentality there also..

I have spoken with numerous high position people in real estate and it all comes to the same " the riverside area is the play garden from some group with their own greedy vision so nothing can be done there"
Remember the big project they were making on norodom? for years there was this sign comming soon hotel pool gym and so on.. They were asking exorbitant amounts of money so they cancelled the whole project!


yes indeed I can imagine if you would build a nice apartment block at the back streets of the riverside area you will sell out in no time but this area is heavy stupid thinking + greed + begrudge otherwise it would have already turned into a western looking place years ago! There were so many foreigners trying to develop those places most of them lost their money and some projects you can still see are abandoned!