When we were based in PP they’d be interested in condos, mostly one to two apartments but sometimes whole blocks, and the sellers were mostly locals but also Asian.
The locals had owned the condos for a longer period but the Asians - all less than six months. They either sell quick or hold on for the long haul, for parking money.

In SHN it’s again mostly Asian (Chinese, Singaporeans, Hong Kongease) but also locals buying condos and land. The locals tend to flip the land within six months but oddly the Asians keep the land for building purposes. The locals tend to buy smaller blocks (100 to 3000 sq meters) and the Asians much bigger plots. Our land owners are all locals and barangs - allthoigh strictly speaking their local wives/partners own it.
We’ve seen a move from PP to SHN within the last 12 months for all types of buyer and seller.
Sihanouville is super hot now. (Not “now” as it’s rainy season and pre election but May is a traditional month for Chinese to do business).

I’ve heard today the French place (Chopsan?) near the gas station and Orange have all been given their marching orders or are in the process of being sold. The small market is also being closed down all the way around to the SUZUKI shop plus the big garage up CT road on the left is closing. You’ll see a lot of closures of established companies closing this month.
I’m actually off work because I had a Moto accident, which was not caused by anyone but my own bad off roading ability on my XT600! (Which I borrowed)
Luckily I can do a lot from home.

Yes sorry.

When we were predominantly based in PP we had a mix of Asian and local condo owners/sellers, I never got involved in land sales. As we’ve recently concentrated on SHN our customers who own land to sell are all locals and barang, I personally don’t get involved in condo sales, but there are some Asian resellers but they tend to hold onto it or build - hence why I don’t come across them as “owners”.

To be honest most of the Asian customers don’t own the land. They all have local partners, wether it’s a business shell or a nominee setup.

Locals are cashing in that’s for sure.

pauladams wrote: ↑Mon May 14, 2018 2:41 pm Yes sorry.

When we were predominantly based in PP we had a mix of Asian and local condo owners/sellers, I never got involved in land sales. As we’ve recently concentrated on SHN our customers who own land to sell are all locals and barang, I personally don’t get involved in condo sales, but there are some Asian resellers but they tend to hold onto it or build - hence why I don’t come across them as “owners”.

To be honest most of the Asian customers don’t own the land. They all have local partners, wether it’s a business shell or a nominee setup.

Locals are cashing in that’s for sure.

What do you find the property value threshold to be, where foreigners opt for the business shell setup over the nominee arrangement ?

I’ll be honest I’ve not actually thought about it. I don’t personally get involved in the technical side that much. I’m just the front man. Get the deal done! (Which isn’t that hard to be fair)

Personally I’d imagine because of the current upward trend people are less adverse to risk so I’d say it just personal choice. That will change.
My colleague deals with that side of things as I’m not a lawyer and my Chinese isn’t as good as his, especially in the technical side, and he’s from PRC!

armchairlawyer wrote: ↑Sun May 13, 2018 9:23 pm

Kammekor wrote: ↑Sun May 13, 2018 5:41 pm Whenever I trade with China I pay in USD, so I don't see it happening that fast. Plus.... The Cambodian government is still pretty weak, the Bong Thom's like the USD they can spend anywhere without capital controls and resentment against the Chinese is on the rise. And bong Narin and Srey Lek love their dollars too....

They also love their gold. Gave's point is that China will be pushing hard to reduce the use of the USD in Asia and those selling to China will be persuaded to accept RMB for their goods and services. When those RMB are exchangeable for gold, they will presumably have no objection.
For those buying from China, there is no problem with dedollarisation, you will simply have to convert your USD into RMB before you make payment.

When? You mean if? And that's never going to happen. No country is stupid enough to link it's currency to gold. Within 5-10 years exports from that country would be too expensive.

pauladams wrote: ↑Mon May 14, 2018 2:41 pm Yes sorry.

When we were predominantly based in PP we had a mix of Asian and local condo owners/sellers, I never got involved in land sales. As we’ve recently concentrated on SHN our customers who own land to sell are all locals and barang, I personally don’t get involved in condo sales, but there are some Asian resellers but they tend to hold onto it or build - hence why I don’t come across them as “owners”.

To be honest most of the Asian customers don’t own the land. They all have local partners, wether it’s a business shell or a nominee setup.

Locals are cashing in that’s for sure.

I think your five year idea is too ambitious, it'll be in two years time that SHV either crashes or the residencies flip over from majority construction workers to majority consumers and it's all milk and honey for three more years until the shine comes off the place. It's been about a year since the first building boom started and after three years is when people holding loans for these buildings are going to start to crack. The last couple of big projects will be complete by then and the construction workers will go home. They are currently the significant portion of renters and they are mostly looking for two year lease contracts. Once that's over we'll see whether Shv suddenly does become a tourist boom town or it just dies on its arse and the bubble bursts. The geophysical aspect of Shv's clay soil where all the houses here are floating on soggy bogs is going to start hitting in about that time, too. My house was a new build 2 1/2 yeas ago and it took them nearly that long to fix the problems and there's still plenty of bog around me at the moment. The ones that aren't shop houses floating lengthwise and are top heavy apartment blocks on thin pillars are going to start to creak once the water works out where it's going to go. That Russian dude Cvik was not so stupid with his tower blocks up hill.

armchairlawyer wrote: ↑Mon May 14, 2018 4:11 pm

Kammekor wrote: ↑Mon May 14, 2018 3:57 pm

armchairlawyer wrote: ↑Sun May 13, 2018 9:23 pm

Kammekor wrote: ↑Sun May 13, 2018 5:41 pm Whenever I trade with China I pay in USD, so I don't see it happening that fast. Plus.... The Cambodian government is still pretty weak, the Bong Thom's like the USD they can spend anywhere without capital controls and resentment against the Chinese is on the rise. And bong Narin and Srey Lek love their dollars too....

They also love their gold. Gave's point is that China will be pushing hard to reduce the use of the USD in Asia and those selling to China will be persuaded to accept RMB for their goods and services. When those RMB are exchangeable for gold, they will presumably have no objection.
For those buying from China, there is no problem with dedollarisation, you will simply have to convert your USD into RMB before you make payment.

When? You mean if? And that's never going to happen. No country is stupid enough to link it's currency to gold. Within 5-10 years exports from that country would be too expensive.

Not necessarily. The point in any case is dedollarisation will accelerate (according to Gave and others). Financial sanctions imposed by the USA stimulate this further as states such as Russia and Iran (and companies trading with them) are prohibited from using the USD. If sellers are being offered a currency other than USD, they will need to trust it. Covertibility to gold is a way of achieving that trust. It would not involve putting that currency on a gold standard, they only need to offer the buyer a short-term conversion option into gold.
As I said before, it won't affect you as a buyer of Chinese goods, except that you would have to convert your USD into RMB immediately before you make payment.

You are aware conversions typically cost 1% (exchange rate) plus fees?