Weak second hand property market
Weak second hand property market
Agents give you a good picture and very eager to help when buying a property in Phnom Penh, but they don't bother to reply you if you want to sell.
- ផោមក្លិនស្អុយ
- Daylight, I need Daylight !?!
- Reactions: 685
- Posts: 4715
- Joined: Sun Feb 05, 2017 4:42 pm
Yes absolutely true, It seems most people already woke up and see that all those big new buildings are empty! even the places that are for rent are empty.
Some Chinese companies still try to build because they simply put down cheapppp KIT buildings like these:
they are building fast you think...? they can do much faster but here in phom penh they just cut away even more labour than they already do in China so the cost price of the buildings is even cheaper than cheap per square meter..
About the old apartments they are desperately trying to sell them because they want to live in a new Borey project with at least a new small Lexus or they want to go back to the province and buy up all the land there.. but if they can not get the price for their old rotten building that someone ever got.. they will keep staying there until they get their dream price so the city will not develop like they all hope of.
They should make new price rules on old buildings who block the progression and image of the city. prices based on facts so that is average salaries, bank loans and so on.. let a proper Institute do it and enforce the rules and let all these people swallow the fact that the house price should be just about max 800$ per square meter. Old owners refuse to sell can get money or a discount on the new built units.
why keep protecting these people who are blocking the progression of the whole country!!?
Than developers can finally create new affordable apartment blocks for the working class..
For the future I think streets will look the same still lots of old houses that some owners don't want to give up because they think they are worth a million, only there will be some nice Boreys with a high fence around it where they start allover again, some Boreys have a marketplace as well.
And for the shophouses who block the sidewalks everywhere, they should simply build a few shopping parks with places like Makro and Tesco Lotus. Don't worry the ministers and okhna's should run it... won't be possible otherwise anyway.. and make sure the prices are so low nobody can compete. so than all those messy shophouses can finally close their doors.. after we wiped down the sidewalks ofcourse..
Some Chinese companies still try to build because they simply put down cheapppp KIT buildings like these:
they are building fast you think...? they can do much faster but here in phom penh they just cut away even more labour than they already do in China so the cost price of the buildings is even cheaper than cheap per square meter..
About the old apartments they are desperately trying to sell them because they want to live in a new Borey project with at least a new small Lexus or they want to go back to the province and buy up all the land there.. but if they can not get the price for their old rotten building that someone ever got.. they will keep staying there until they get their dream price so the city will not develop like they all hope of.
They should make new price rules on old buildings who block the progression and image of the city. prices based on facts so that is average salaries, bank loans and so on.. let a proper Institute do it and enforce the rules and let all these people swallow the fact that the house price should be just about max 800$ per square meter. Old owners refuse to sell can get money or a discount on the new built units.
why keep protecting these people who are blocking the progression of the whole country!!?
Than developers can finally create new affordable apartment blocks for the working class..
For the future I think streets will look the same still lots of old houses that some owners don't want to give up because they think they are worth a million, only there will be some nice Boreys with a high fence around it where they start allover again, some Boreys have a marketplace as well.
And for the shophouses who block the sidewalks everywhere, they should simply build a few shopping parks with places like Makro and Tesco Lotus. Don't worry the ministers and okhna's should run it... won't be possible otherwise anyway.. and make sure the prices are so low nobody can compete. so than all those messy shophouses can finally close their doors.. after we wiped down the sidewalks ofcourse..
U can try, ask the agents that u want to buy or rent a property, u will get very efficient and positive response, in 2 wks or max 1 month everything settled. In contrast, ask them to sell a property for u, try it, and u will understand the real market. Either u sell it at a low market price (provided that your property is in good location and good condition) or they just keep u wait.... eventually no contact with u
-
- I Am Losing It All to the Internet
- Reactions: 0
- Posts: 1476
- Joined: Mon Nov 26, 2012 5:44 pm
With do much new stuff coming on line unless you have a building in a stellar location with something unique then I think you can expect little interest from realtors. Their books are stuffed with poorly constructed new shit they're trying to peddle. Go north west of Camko City and you will find street after street of vacant new builds.
Certain developers have some cachet - Penh Hout for instance but even look at some of their slightly older boreys round 371 and they half empty with nobody wanting to rent. Cambodians are like magpies - they like nice new shiny stuff.
Certain developers have some cachet - Penh Hout for instance but even look at some of their slightly older boreys round 371 and they half empty with nobody wanting to rent. Cambodians are like magpies - they like nice new shiny stuff.
- Dahon
- I live above an internet cafe
- Reactions: 2
- Posts: 182
- Joined: Sun Oct 23, 2016 4:09 pm
- Location: Shanghai, China
I guess this is why the country does not develop, money is sunk into lousy projects and when they don't sell the
credit is allowed to roll over into new loans. Maybe the interest should be raised or a heavy property tax levied on unsold
property so developers actually have to move their shit. The the business cases might become more realistic.
$800 per sqm actually buys You an ok apartment in Chinese smaller cities of just 2-3 million people or so, and that
is in a country with a stronger economy. Ok, PP is the capital but still $800 is not a bad price in the suburbs. But
the Chinese build at least 3-540 stories today and the architecture is maybe not very inspiring.
credit is allowed to roll over into new loans. Maybe the interest should be raised or a heavy property tax levied on unsold
property so developers actually have to move their shit. The the business cases might become more realistic.
$800 per sqm actually buys You an ok apartment in Chinese smaller cities of just 2-3 million people or so, and that
is in a country with a stronger economy. Ok, PP is the capital but still $800 is not a bad price in the suburbs. But
the Chinese build at least 3-540 stories today and the architecture is maybe not very inspiring.
Cambodia - tickets booked, moved on to mission planning DONE
Mission completed, reported to Col Braddock. DONE
Now ranting about the experience ONGOING
Mission completed, reported to Col Braddock. DONE
Now ranting about the experience ONGOING
You do realise that there's also a property market outside of PP?
pew, pew, pew, pew!
-
- Similar Topics
- Replies
- Views
- Last post
-
- 1 Replies
- 1796 Views
-
Last post by Marinaris
Fri Jun 12, 2020 2:03 pm
-
-
Below $24,225, value, no property tax. Otherwise, 0.1% per annum
by Guest999 » Mon Aug 31, 2020 10:54 am » in Houses, Apartments and Real Estate - 1 Replies
- 1678 Views
-
Last post by logos
Mon Aug 31, 2020 12:59 pm
-
-
-
Is there new Capital Gains tax after Gifting property?
by Guest999 » Sun Oct 18, 2020 10:41 am » in Houses, Apartments and Real Estate - 12 Replies
- 3846 Views
-
Last post by KPMGreader
Wed Nov 18, 2020 12:46 pm
-
-
-
Explainer – Can foreigners buy property in Cambodia?
by cirmedia » Sat Apr 09, 2022 12:39 pm » in Cambodia News - 2 Replies
- 3051 Views
-
Last post by logos
Sat Apr 09, 2022 5:04 pm
-
-
-
Are you looking for a property, land or house in Siem Reap?
by Mentoeng » Tue Jul 07, 2020 9:08 am » in Houses, Apartments and Real Estate - 7 Replies
- 2981 Views
-
Last post by Guest
Sun Aug 09, 2020 4:06 pm
-