I wonder how many similar buildings there are to this place, a new high rise condo in Bkk with 222 units, of which only 10 are currently occupied. Is suspect there are numerous buildings like this around town and it makes a mockery of the efforts to build the tallest SEA building in Phnom Penh.
Who, exactly, are these aimed at?
http://m.phnompenhpost.com/post-propert ... ncy-dismal
Trendy commune Boeung Keng Kang 1 is now home to the latest residence in town. Platinum Bay, a 32-storey condo, has officially opened the doors to its 222-unit building. While finishing touches will be complete by the end of May, buyers have already started to move in – although the number is paltry. At present, only 10 units are occupied.
The developer, Tang Chen Investment Co., could not be reached for comment on the condo’s total occupancy rate. Platinum Bay, which announced its project in 2013, was initially slated for a 2015 completion.
Kek Narinn, CEO of Focus Property, whose office resides in BKK1, said earlier this week that the room rate in the commune has taken a slow dip due to the rise of new condos and apartments all opening their doors within months of each other. Despite this, he said, judging from the overall occupancy rate, BKK1 still ranks the highest among all of Phnom Penh’s main residential districts. This rate corresponds to almost 90 percent occupancy.
“Condo and apartment owners are going forward with preserving their current pricing without offering discounts, but this comes with added services and amenities, because competition is increasingly tougher now with the supply of homes spiking,” Narinn added.
On a monthly rental basis, according to Narinn, high-end apartments in BKK1 can command $1,500 for a one-bedroom unit, up to $2,500 for a two-bedroom, and between $2,500 and $3,500 for a three-bedroom apartment.
While BKK1 continues to enjoy higher occupancy rates for its residences than other areas, CEO of Century 21 Mekong Chrek Soknim said a deeper look has to be taken from a developers’ perspective. Investors are shifting strategies, with the first wave having mainly targeted the foreigner and expat market. Today’s investors, however, are finding more substantial value in prioritising the local market, with the provision of lower-priced condos and apartments.
Still, the mindset of locals perseveres in that they are still attached to their shophouse and flathouse dwellings when compared to the fairly new concept of high-rises.
Luxury condos with dismal occupancy rates
Well there's one I've been trying to get into for two years. They just keep saying full full full.
Unless everyone lives in the dark I just know it's not. A lot of this stuff is just a money laundering operation with the added bonus of land value appreciation a few years down the line.
Unless everyone lives in the dark I just know it's not. A lot of this stuff is just a money laundering operation with the added bonus of land value appreciation a few years down the line.
In my experience It's what owners say when they have principles and want to keep out a certain populationrobW wrote:Well there's one I've been trying to get into for two years. They just keep saying full full full.
Unless everyone lives in the dark I just know it's not
Should be able to grab them for pretty cheap, due to the high supply and virtually 0 demand...
- Felgerkarb
- Sir Felgerkarb, Kt Pb
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This is Cambodia, they will stay vacant until they decay to ruins before they reduce pricing by 100r.
====================
Why are the gods such vicious cunts?
Where is the god of tits and wine?
Why are the gods such vicious cunts?
Where is the god of tits and wine?
yes they rather screw someone over, instead of having their properties sold out.. ofcourse that is the whole psychology of these people they have some serious nasty thoughts inside them. and nobody can write or speak about it you will be attacked on all sides..
Some local khmers they even admit it when I asked them what is going on here. "Yes sir sorry its inside our culture" is what they will reply you if you are lucky and find someone willing to tell you.
I was looking for a place 3 weeks ago, when I decided not to take it he dared to give 1 dollar discount. not to me of course.. but he took exactly 1 dollar off the advertisement on khmer24 can you believe it..
really these people are mindsick
Some local khmers they even admit it when I asked them what is going on here. "Yes sir sorry its inside our culture" is what they will reply you if you are lucky and find someone willing to tell you.
I was looking for a place 3 weeks ago, when I decided not to take it he dared to give 1 dollar discount. not to me of course.. but he took exactly 1 dollar off the advertisement on khmer24 can you believe it..
really these people are mindsick
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