Condo market slowdown expected as elections approach.

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by rogerrabbit » Wed Sep 11, 2019 3:12 am

Adam Xie wrote:
Tue Sep 10, 2019 4:45 pm
VOA

Horm Piseth gets to view these cranes from his condominium on Chroy Changvar peninsula, on the eastern bank of the Tonle Sap. The 33-year-old businessman last year purchased the condo in a modern housing development. The $80,000 investment got him a one-bedroom apartment, with the added benefits of a gymnasium and swimming pool.

https://www.voacambodia.com/a/as-skylin ... 72733.html

The only reason why so many condo was build, is because not all Chinese can easily purchase land or property at ground floor in the KOW, shall Chinese be granted the legal right to purchase and owns such property, all Borey in KOW can be sold off in 6 months, with housel price rocket to sky.

BTW, why bother to buy a Condo, when you can easily buy a shop house or small villa in a close door community with price around USD80,000 with a 30 minutes drive way from city centre.
Is that 30 minutes drive during rush hour? If yes, please let me know where can you find small villa with that price?
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by Adam Xie » Wed Sep 11, 2019 11:38 am

rogerrabbit wrote:
Wed Sep 11, 2019 3:12 am
Adam Xie wrote:
Tue Sep 10, 2019 4:45 pm
VOA

Horm Piseth gets to view these cranes from his condominium on Chroy Changvar peninsula, on the eastern bank of the Tonle Sap. The 33-year-old businessman last year purchased the condo in a modern housing development. The $80,000 investment got him a one-bedroom apartment, with the added benefits of a gymnasium and swimming pool.

https://www.voacambodia.com/a/as-skylin ... 72733.html

The only reason why so many condo was build, is because not all Chinese can easily purchase land or property at ground floor in the KOW, shall Chinese be granted the legal right to purchase and owns such property, all Borey in KOW can be sold off in 6 months, with housel price rocket to sky.

BTW, why bother to buy a Condo, when you can easily buy a shop house or small villa in a close door community with price around USD80,000 with a 30 minutes drive way from city centre.
Is that 30 minutes drive during rush hour? If yes, please let me know where can you find small villa with that price?
Borey Peng Huoth the star premier,
Borey Arata
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by rogerrabbit » Wed Sep 11, 2019 1:25 pm

Adam Xie wrote:
Wed Sep 11, 2019 11:38 am
rogerrabbit wrote:
Wed Sep 11, 2019 3:12 am
Adam Xie wrote:
Tue Sep 10, 2019 4:45 pm
VOA

Horm Piseth gets to view these cranes from his condominium on Chroy Changvar peninsula, on the eastern bank of the Tonle Sap. The 33-year-old businessman last year purchased the condo in a modern housing development. The $80,000 investment got him a one-bedroom apartment, with the added benefits of a gymnasium and swimming pool.

https://www.voacambodia.com/a/as-skylin ... 72733.html

The only reason why so many condo was build, is because not all Chinese can easily purchase land or property at ground floor in the KOW, shall Chinese be granted the legal right to purchase and owns such property, all Borey in KOW can be sold off in 6 months, with housel price rocket to sky.

BTW, why bother to buy a Condo, when you can easily buy a shop house or small villa in a close door community with price around USD80,000 with a 30 minutes drive way from city centre.
Is that 30 minutes drive during rush hour? If yes, please let me know where can you find small villa with that price?
Borey Peng Huoth the star premier,
Borey Arata
During rush hour it takes around 1 hour from both places to get to Vattanac tower according to google maps. So spending 8-12 hours each week commuting to work doesn't sound that appealing.
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by armchairlawyer » Wed Sep 11, 2019 1:44 pm

rogerrabbit wrote:
Wed Sep 11, 2019 1:25 pm

During rush hour it takes around 1 hour from both places to get to Vattanac tower according to google maps. So spending 8-12 hours each week commuting to work doesn't sound that appealing.
Maybe worth noting that it would take quite a long time to commute from/to most of the major condo locations (Olympic, Koh Pich, Russian Blvd, Tuol Kork) to Vattanac Tower.
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by rogerrabbit » Wed Sep 11, 2019 2:12 pm

armchairlawyer wrote:
Wed Sep 11, 2019 1:44 pm
rogerrabbit wrote:
Wed Sep 11, 2019 1:25 pm

During rush hour it takes around 1 hour from both places to get to Vattanac tower according to google maps. So spending 8-12 hours each week commuting to work doesn't sound that appealing.
Maybe worth noting that it would take quite a long time to commute from/to most of the major condo locations (Olympic, Koh Pich, Russian Blvd, Tuol Kork) to Vattanac Tower.
From Toul Kork of course (Toul Kork is worst possible place to buy anything imo) but not from those other places you mention. During peak hours travelling time is max. 30 mins. And if one is buying +80k property you might factor the future development as well. It's much more likely you would have some sort of train/tram/metro line going near your home if you live in area like Olympic/Koh Pich/HE blvd then area like Borey Peng Huoth the Star Premier.
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Re: Condo market slowdown expected as elections approach.

Post by armchairlawyer » Wed Sep 11, 2019 2:17 pm

RR. I admire your ability to take the long view!
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by Kammekor » Wed Sep 11, 2019 2:42 pm

rogerrabbit wrote:
Wed Sep 11, 2019 2:12 pm
armchairlawyer wrote:
Wed Sep 11, 2019 1:44 pm
rogerrabbit wrote:
Wed Sep 11, 2019 1:25 pm

During rush hour it takes around 1 hour from both places to get to Vattanac tower according to google maps. So spending 8-12 hours each week commuting to work doesn't sound that appealing.
Maybe worth noting that it would take quite a long time to commute from/to most of the major condo locations (Olympic, Koh Pich, Russian Blvd, Tuol Kork) to Vattanac Tower.
From Toul Kork of course (Toul Kork is worst possible place to buy anything imo) but not from those other places you mention. During peak hours travelling time is max. 30 mins. And if one is buying +80k property you might factor the future development as well. It's much more likely you would have some sort of train/tram/metro line going near your home if you live in area like Olympic/Koh Pich/HE blvd then area like Borey Peng Huoth the Star Premier.
If you're under 30 you might live long enough to see that happen. During the 10 years I've been around I've seen a zillion plans and the introduction of some city buses actually happened.
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by rogerrabbit » Wed Sep 11, 2019 3:54 pm

Kammekor wrote:
Wed Sep 11, 2019 2:42 pm
rogerrabbit wrote:
Wed Sep 11, 2019 2:12 pm
armchairlawyer wrote:
Wed Sep 11, 2019 1:44 pm
rogerrabbit wrote:
Wed Sep 11, 2019 1:25 pm

During rush hour it takes around 1 hour from both places to get to Vattanac tower according to google maps. So spending 8-12 hours each week commuting to work doesn't sound that appealing.
Maybe worth noting that it would take quite a long time to commute from/to most of the major condo locations (Olympic, Koh Pich, Russian Blvd, Tuol Kork) to Vattanac Tower.
From Toul Kork of course (Toul Kork is worst possible place to buy anything imo) but not from those other places you mention. During peak hours travelling time is max. 30 mins. And if one is buying +80k property you might factor the future development as well. It's much more likely you would have some sort of train/tram/metro line going near your home if you live in area like Olympic/Koh Pich/HE blvd then area like Borey Peng Huoth the Star Premier.
If you're under 30 you might live long enough to see that happen. During the 10 years I've been around I've seen a zillion plans and the introduction of some city buses actually happened.
I guess I have more positive view on things. JICAs has been planning one for what past 6-7 years and now the planning phase ends soon. Bus or any public transport system planning phase takes years, even decade. And Phnom Penh was very different place 10 years ago. Construction can easily again take another decade. I'm fairly sure we see some train based public transport system that work fairly well (not like the airport train) before 2030 in Phnom Penh too. It will not be extensive network but I'm confident that first line(s) will be running by that time.

But anyways the original article quoted by Adam was about locals who were around 30yo and had bought condo in city, and my posts were more related to them, than middle aged or older expats who most likely will not live rest of their lives in this city.
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by Kammekor » Wed Sep 11, 2019 5:35 pm

rogerrabbit wrote:
Wed Sep 11, 2019 3:54 pm
Kammekor wrote:
Wed Sep 11, 2019 2:42 pm
rogerrabbit wrote:
Wed Sep 11, 2019 2:12 pm
armchairlawyer wrote:
Wed Sep 11, 2019 1:44 pm
rogerrabbit wrote:
Wed Sep 11, 2019 1:25 pm

During rush hour it takes around 1 hour from both places to get to Vattanac tower according to google maps. So spending 8-12 hours each week commuting to work doesn't sound that appealing.
Maybe worth noting that it would take quite a long time to commute from/to most of the major condo locations (Olympic, Koh Pich, Russian Blvd, Tuol Kork) to Vattanac Tower.
From Toul Kork of course (Toul Kork is worst possible place to buy anything imo) but not from those other places you mention. During peak hours travelling time is max. 30 mins. And if one is buying +80k property you might factor the future development as well. It's much more likely you would have some sort of train/tram/metro line going near your home if you live in area like Olympic/Koh Pich/HE blvd then area like Borey Peng Huoth the Star Premier.
If you're under 30 you might live long enough to see that happen. During the 10 years I've been around I've seen a zillion plans and the introduction of some city buses actually happened.
I guess I have more positive view on things. JICAs has been planning one for what past 6-7 years and now the planning phase ends soon. Bus or any public transport system planning phase takes years, even decade. And Phnom Penh was very different place 10 years ago. Construction can easily again take another decade. I'm fairly sure we see some train based public transport system that work fairly well (not like the airport train) before 2030 in Phnom Penh too. It will not be extensive network but I'm confident that first line(s) will be running by that time.

But anyways the original article quoted by Adam was about locals who were around 30yo and had bought condo in city, and my posts were more related to them, than middle aged or older expats who most likely will not live rest of their lives in this city.
2030? Maybe.
The (initial) skytrain in Bangkok took about 17 years from idea to first ride.
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Re: As Skylines Transform, Local Buyers Persist With Familiar Housing Options

Post by Adam Xie » Wed Sep 11, 2019 6:34 pm

rogerrabbit wrote:
Wed Sep 11, 2019 2:12 pm
armchairlawyer wrote:
Wed Sep 11, 2019 1:44 pm
rogerrabbit wrote:
Wed Sep 11, 2019 1:25 pm

During rush hour it takes around 1 hour from both places to get to Vattanac tower according to google maps. So spending 8-12 hours each week commuting to work doesn't sound that appealing.
Maybe worth noting that it would take quite a long time to commute from/to most of the major condo locations (Olympic, Koh Pich, Russian Blvd, Tuol Kork) to Vattanac Tower.
From Toul Kork of course (Toul Kork is worst possible place to buy anything imo) but not from those other places you mention. During peak hours travelling time is max. 30 mins. And if one is buying +80k property you might factor the future development as well. It's much more likely you would have some sort of train/tram/metro line going near your home if you live in area like Olympic/Koh Pich/HE blvd then area like Borey Peng Huoth the Star Premier.
You are not using the optimal road, trust me, I got colleagues living in both community, and working place is right beside Vatanak, they usually takes 25-30m to get to office. Arata is a bit far, so took about 45 minutes
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