What do you think about rental prices in Phnom Penh

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OrientInvestor
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Re: What do you think about rental prices in Phnom Penh

Post by OrientInvestor »

AndyKK wrote: Sun Apr 19, 2020 7:04 pm BKK1 and the luxury modern apartments and their facilities would possibly be an option if I was to work in that area of the city, a so called effluent area to live and be seen. I am not into that type of living. Phnom Penh is what it is, being everywhere is accessible being that there are no large distances involved. I live in an apartment block over the river (no Barrang neighbours), Shophouse type on two floors, safe with cameras and also security at the evening time. $120 per month.
I pay double that in my electricity bill every month and management fee alone is $170. Unbelievable how cost of living can differ in the same city.
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Re: What do you think about rental prices in Phnom Penh

Post by OrientInvestor »

rogerrabbit wrote: Sun Apr 19, 2020 6:36 pm
WineOxley wrote: Sun Apr 19, 2020 2:51 pm Rents have been rising over the years, especially around BKK1

Although there seems to be a little more supply during the virus.
Definitely not the case. Modern apartment rents have declined heavily from 2013. Back 2013 you had to pay well over $1000 for modern studio / small 1br in a building with pool and gym in BKK1 / Tonle Bassac area. Now you can rent modern studio / 1br with pool and other facilities for $600.
Rents for really basic rooms/apartment, shophouses and villas might have gone up as many that type building have been demolished in that area.
Obviously, in 2013 there were 2000 condominium units while now we have roughly 20,000. 10x in 7 years.

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AndyKK
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Re: What do you think about rental prices in Phnom Penh

Post by AndyKK »

OrientInvestor wrote: Sun Apr 19, 2020 7:59 pm
AndyKK wrote: Sun Apr 19, 2020 7:04 pm BKK1 and the luxury modern apartments and their facilities would possibly be an option if I was to work in that area of the city, a so called effluent area to live and be seen. I am not into that type of living. Phnom Penh is what it is, being everywhere is accessible being that there are no large distances involved. I live in an apartment block over the river (no Barrang neighbours), Shophouse type on two floors, safe with cameras and also security at the evening time. $120 per month.
I pay double that in my electricity bill every month and management fee alone is $170. Unbelievable how cost of living can differ in the same city.
Its not that unbelievable how cost of living can differ has in most capital cities, world wide that is where the work is to be found, and so too the money. But even so there is a large class divide between its people, and so with rentals, such as Villas costing $2000+ and rooms $40+
I recently had word of an old wooden building for $10 per month out near the Royal Cambodia Phnom Penh Golf Club. We went to look at it, but no toilet, I could have put one in no problem, but I wanted a years lease agreement. They now wanted $20 per month, me being a Barrang, but they would not go to the Sangkat and register me.
this is what I pay per month now -
Wifi $5
Water $5
Bin collection 5000reil
Electric 57.200reil
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Re: What do you think about rental prices in Phnom Penh

Post by pczz »

OrientInvestor wrote: Sun Apr 19, 2020 2:54 pm
Duncan wrote: Sun Apr 19, 2020 2:07 pm
OrientInvestor wrote: Sun Apr 19, 2020 1:31 pm I want to hear what expats think about rental prices in Phnom Penh. Especially compared to other neighbouring SEA countries.

Do you find them expensive? Especially when it comes to areas like BKK1 and Tonle Bassac.

If we compare now and few years back say 2016 and 2013 has the prices changed much?

When you are talking about ''rental prices '' you are talking about gross returns that the landlord is getting on the value of his property. Firstly you should ask yourself what return would you expect if you put money in the bank or loaned it out . What return do you expect to get on the money you have invested in your superannuation or a business .
Now go back and ask yourself ,, if I bought that property , at todays value, how much return on my investment would I want , then translate that into
rent per month.
From the investor point of view I know that as I am getting 6.5% net return on one of my apartments in PP, which I consider superb.

But I’m wondering what’s the expat feeling about rent price as I was a bit shocked when I arrived first that a nice 2 bedroom in BKK1 cost $2000 per month and more just for rent. But then I found out that in Yangon it can be at least double that, $4000 per month... Of course I’m talking about new luxury high rise Western style buildings with amenities.
Normal return on a proerty in the uk is around 8%, and you have proper tiitle and anyone can buy. Properties in Cambodia are not easy to shift, so its not very liquid as an asset. As for $2000 a month I think that is pushing it. $400-$500 for a 1 bed with pool bkk2/bkk3. For compariosn on alike for like my 1 bed apartmnent in greece was 270 euros a month including all utilities and 10 minute walk to the beach. 400 euro a month for anew 2 bed apartment same area.
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Re: What do you think about rental prices in Phnom Penh

Post by armchairlawyer »

"While some landlords are reducing rents to keep tenants, some of the tenants are moving out to cheaper places, making it desperate times for both tenants and landlords. Some tenants are even asking for a 50 percent discount having been hit by pay cuts, forcing the hands of property owners reliant on a steady cash flow." Real estate agent.

https://www.khmertimeskh.com/50714661/i ... al-estate/
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