Property prices stagnant following election

Property prices stagnant following election

Thu, 29 August 2013 Siv Meng Although house prices increased sharply in early 2013, they have remained stagnant following the national election last month. Kuy Vat, the President and CEO of VTrust Group, said housing prices in many projects remain unchanged, because most customers are waiting for the formation of the new government. “Prices and purchasing increased before the election, but since this most customers have seemed hesitant, causing the price to become stagnant,” he said. Po Eavkong, the Managing Director of Asia Real Estate Cambodia co, Ltd, said house prices during the first half of 2013 increased five to seven per cent compared with the same period last year, but prices have not changed following the election. However, now many sellers are asking for higher than the market price, which is similar to before 2008, but the increases are not as much as in 2008. “If the new government is formed and it is peaceful, the price of property, especially housing, will increase, but it should not be too high,” he said. Noun Rithy, the General Manager at Bunna Reality Group Co, Ltd, disagreed, saying that prices for the first half of 2013 were 10 per cent to 25 per cent higher than during the same period last year. He added that the rise in price is to the increased demand for housing in Phnom Penh, which is currently 100,000 housing units per year. “The housing price is stagnant currently, not entirely because of the election, but it is also the arrival of the rainy season. I see that political issues do not change remarkably and this situation...
Running a serviced property business

Running a serviced property business

Read Original textThu, 1 August 2013 Post Staff Doing business on serviced properties is lucrative in the Kingdom’s current market. Nevertheless, before jumping into this business, you might need more than capital – and that’s why property enterprise leaders always refer to sound out information about the market, gain real estate related skills, show a keen interest in this business and spend time dedicated for the business. Once you have most of the things above, it means you’re well-prepared to start. But this isn’t easy for every property owner because an owner might find they fit well with a certain approach, but might not with another. 1). Manage on your own Of course, having a 10-20 storey building is your big asset to start an investment in a serviced property. However, there’re some pros and cons when it comes to managing your own properties. First, the benefits you as a property owner gain from managing your own property are the gross incomes. You have an opportunity to enjoy your sole-proprietorship cross incomes, especially when you reach a peak of occupancy rate. However, it isn’t a way to be a smart property investor. Because you’ll have to devote most of your time and energy to the management of your property, you’ll be tied up with it and won’t have much time for future business ideas and policies to expand your investments. When it comes to managing your own property, things that might adversely affect your productivity are a loss of focus, high operation costs, limited operation capacity and quality and risks involving unstable cash flow to settle the operation costs...