Cambodia real estate enters the International pproprty sector with a successful property show that highlights the interest in the region.
The country’s leading developers benefited from thousands of sales leads generated over the two days; and a staggering 30 deals were converted onsite at the show – equating to over $3 million in total property value.
Forty percent of those who attended the event were Chinese, or Mandarin-speaking, 20 percent were from other countries; and 40 percent were Khmer nationals. As Cambodia’s leading property classifieds website, the turnout of the show represents the targeted audience of the Realestate.com.kh website and related media channels.
Century 21 in Cambodia
The Global Strategic Business Development (GSBD) Team at Century 21 Cambodia will soon embark on a month-long “Global Strategic Business Development Tour” whereby they will visit China, Hong Kong, Macau, Taiwan, Thailand, Singapore, Japan, Malaysia and Indonesia, promoting Real Estate investment opportunities in Cambodia.
The tour team will consist of Mr Kuy Vat, Chairman/CEO Century21 Cambodia; Mr Seraj Sutton, Director of Global Strategic Business Development at Century21 Cambodia; and Mr SamAth Him Sprung, Director of Global Strategic Business Development at Century21 Cambodia.
Century21 Cambodia, through their tour series, wish to be a catalyst in spotlighting Cambodia in the world market for property investment; and will be approaching major players in key markets in order to combine their regional expertise and to expose the Cambodia market to the huge Century21 Global Network.
Even while Cambodia’s construction and economic boom continues, many perceptions of the wealth of the country and the potential for returns on investment are still being overlooked in major global markets, despite nearly two decades of swift economic growth.
While the Century21 Overseas tour seeks to identify investment opportunities abroad, it also seeks to alter this mindset and funnel investment capital back to the Cambodian property sector.
Let the buyer beware!
Despite the huge growth in the Cambodia real estate industry, there are still many operators that are conducting real estate scams for a quick profit. Here is a list of the most common scams in the market, compiled by Realestate.com.kh. If you ever think you might be getting scammed, immediately seek professional legal advice.
These real estate scams involve declaring a property larger than it actually is and then selling it. The seller might say the property size is at 6×16 when it’s only 4×10. Buying in this condition sets you up to potentially get part of your house demolished in the future. Sometimes the owner will be aware of the issue, and sometimes they won’t – so this isn’t always a deliberate scam.
Checking the title at the relevant authority for these sizes will clarify this situation. Properties with an LMAP title have had the borders defined and GPS coordinates prescribed. These are the safest titles, and they can be executed at cost. The additional cost, however, will guarantee you are buying exactly what you think you are.