armchairlawyer wrote: ↑Thu Aug 27, 2020 7:24 pm Lets do some Math.
$500 psm gets you a decent quality build in Cambodia.
Prime PP land costs 5000 psm (less now of course but we'll use that),
You build a 25 storey block.
That reduces the land cost to 20 psm.
So a 35 sm studio (like the ones they want to sell for 50k) should be $18,200.
Maybe wait for the price to come down a bit more!

To build a 25 storey block needs a lot of up front capital and for that you get the rewards. If they sold them for that price no one would bother building them

whatwat wrote: ↑Thu Aug 27, 2020 9:17 pm

armchairlawyer wrote: ↑Thu Aug 27, 2020 7:24 pm Lets do some Math.
$500 psm gets you a decent quality build in Cambodia.
Prime PP land costs 5000 psm (less now of course but we'll use that),
You build a 25 storey block.
That reduces the land cost to 20 psm.
So a 35 sm studio (like the ones they want to sell for 50k) should be $18,200.
Maybe wait for the price to come down a bit more!

To build a 25 storey block needs a lot of up front capital and for that you get the rewards. If they sold them for that price no one would bother building them

Yep.
But you can't wind back the clock.

You are still far better off buying a flat in city center such as 7 Makara and renovating it. Bigger upside and you would enjoy a much larger and more convenient living space. Close to many major markets and still within walking distance to riverside.

Don't buy a place with elevators, hugely expensive to properly maintain so you know its not going to get done right

Dunderhead wrote: ↑Fri Aug 28, 2020 12:16 pm Don't buy a place with elevators, hugely expensive to properly maintain so you know its not going to get done right

Never thought of that! Could end up like timeshare units that have high maintenance charges and low demand. Negative prices!

canucklhead wrote: ↑Fri Aug 28, 2020 12:06 pm You are still far better off buying a flat in city center such as 7 Makara and renovating it. Bigger upside and you would enjoy a much larger and more convenient living space. Close to many major markets and still within walking distance to riverside.

Can you name me some older affordable condominiums buildings with larger units in 7 Makara area cause online i only see super pricey units..It Still amazes me that for a third world country here with cheap labor and cheap building materials the condo prices are way above the average condo prices in the USA , Europe and or Thailand !

Strawberryshake wrote: ↑Fri Aug 28, 2020 3:55 pm

canucklhead wrote: ↑Fri Aug 28, 2020 12:06 pm You are still far better off buying a flat in city center such as 7 Makara and renovating it. Bigger upside and you would enjoy a much larger and more convenient living space. Close to many major markets and still within walking distance to riverside.

Can you name me some older affordable condominiums buildings with larger units in 7 Makara area cause online i only see super pricey units..It Still amazes me that for a third world country here with cheap labor and cheap building materials the condo prices are way above the average condo prices in the USA , Europe and or Thailand !

I think he meant you should buy a non-condo. There's plenty of them for sale too, and they cost a lot less per sq m.

BTW, falling condo prices is also happening in the USA. This from a note put out yesterday by Neil Howe, author of The Fourth Turning,

The Covid-19 pandemic, interestingly, points to a very different future. Where have home prices and rents been rising fastest this summer? Big houses in the exurbs.

Where have they been sinking? Apartments and condos in the major cities, especially in such expensive and trend-setting downtowns as Manhattan, Boston, and San Francisco. These are places where no one thought prices would ever drop.

Among all the cultural creatives migrating away from these big cities with their laptops are millions of Millennial professionals. Many find themselves pleasantly surprised by how much nicer life is without the stress and commute and high cost.

armchairlawyer wrote: ↑Fri Aug 28, 2020 4:09 pm

Strawberryshake wrote: ↑Fri Aug 28, 2020 3:55 pm

canucklhead wrote: ↑Fri Aug 28, 2020 12:06 pm You are still far better off buying a flat in city center such as 7 Makara and renovating it. Bigger upside and you would enjoy a much larger and more convenient living space. Close to many major markets and still within walking distance to riverside.

Can you name me some older affordable condominiums buildings with larger units in 7 Makara area cause online i only see super pricey units..It Still amazes me that for a third world country here with cheap labor and cheap building materials the condo prices are way above the average condo prices in the USA , Europe and or Thailand !

I think he meant you should buy a non-condo. There's plenty of them for sale too, and they cost a lot less per sq m.

BTW, falling condo prices is also happening in the USA. This from a note put out yesterday by Neil Howe, author of The Fourth Turning,

The Covid-19 pandemic, interestingly, points to a very different future. Where have home prices and rents been rising fastest this summer? Big houses in the exurbs.

Where have they been sinking? Apartments and condos in the major cities, especially in such expensive and trend-setting downtowns as Manhattan, Boston, and San Francisco. These are places where no one thought prices would ever drop.

Among all the cultural creatives migrating away from these big cities with their laptops are millions of Millennial professionals. Many find themselves pleasantly surprised by how much nicer life is without the stress and commute and high cost.

Yes you’re right he said flats i misread that for condos. I‘am new to Cambodia so how can we own flats as a foreigner? What I heard is foreigners can only buy condos with strata title in ur own name. I expect the Cambodian property sales prices and the rents also to be going only downwards for the unforeseeable future.

Strawb take a look at khmer24.com website. Use the filters on the search for house for sale. Flats are listed as houses here.

Strawberryshake wrote: ↑Sat Aug 29, 2020 2:34 am
Yes you’re right he said flats i misread that for condos. I‘am new to Cambodia so how can we own flats as a foreigner? What I heard is foreigners can only buy condos with strata title in ur own name. I expect the Cambodian property sales prices and the rents also to be going only downwards for the unforeseeable future.

It's tricky. The condo law was passed in 2009 and only covers buildings constructed since then. Condos have come down in price but they are still expensive compared to non-condos and the massive oversupply suggests the price deflation will accelerate.
To own a non-condo, you have to get Cambodian citizenship (now very expensive), or buy it in a Khmer person's name (risky) or form a company (little bit risky and expensive regular charges). You can get soft title to a non-condo that does not include the ground floor but this is risky as soft title is not ownership and in central PP it has become problematic for foreigners to acquire. These obstacles may increase in order to try to stimulate the flagging condo market.
I know a successful Khmer real estate investor and he is not buying in PP atm, he considers it overpriced in all areas, he is buying in the provinces but only land, paying around $1 psm (up to $5 in some cases).
With rents so reasonable atm, that is a great opportunity to avoid the stress of ownership. Buy gold and bitcoin!