22 Reasons To invest In The Peak?
- Be Among the Elite in Cambodia & around the World
- 5-Star Shangri-La Hotel Next Door
- Worldwide luxury branding
- Prestige of ownership
- 2 Levels of “Hotel-Grade” facilities
- Integrated Mixed Development with 5-storey Shopping Mall & Offices
- Good long-term upkeep
- First mover advantage/frontier market
- Affordable Luxury, especially the Elite
- Singapore SGX-listed developer Oxley
- Tallest 55-storey building
- Iconic Timeless Design
- 12% Nett Guaranteed Rental Returns over 2 Years!
- Magnificent River & City Views
- And FROM ONLY US$1xxK!!
- Within walking distance to NagaWorld Casino, Embassy of Australia, Embassy of Russia, Ministry of Foreign Affairs, National Assembly, Dream Land, AEON Mall (Cambodia’s biggest Megamall)
- Within 5 minutes to Independence Monument, Elite Town Golf Club, Koh Pich City Hall
- Tourist hub, near CBD
- 24-hour security system with CCTV cameras, card access control
- Phnom Penh International Airport within 30 Minutes
EASY Payment Schedule & Sales Procedure
Why Invest In Cambodia?
- Strong emerging economy with 7% annual growth (one of the fastest growing)
- FTA with ASEAN from 2015 – growing opportunities for businesses and more expatriates entering Cambodia
- First Mover Advantage – super prime location now only $500 Psf vs Manila $800+ Psf vs Bangkok $1,200+ Psf (Orchard is $3,500+ Psf)
- Investor-Friendly – no withholding tax, easy repatriation of profits. No ABSD, no SSD, no Capital Gains Tax, no TDSR. Able to “flip”/subsell
- Deferred Payment Scheme
- Potential currency gains as prices are in USD$ which is appreciating as the US economy recovers. USD$ is also the “World Currency” and less volatile than local Asian currencies
Solid economic growth and strong foreign investor demand are helping to drive Cambodia’s condo boom.
Extracted from PropertyGuru By Romesh Navaratnarajah
Cambodia’s real estate market is heating up, especially in its capital Phnom Penh, with foreign developers from China, Singapore, Taiwan and Korea looking to expand their footprint in the fast-growing city.
For Singaporean developers, restrictive cooling measures in the city-state, as well as the passing of legislation some years back allowing foreigners to own Cambodian property, have been the main pull factors for companies such as Oxley Holdings, Teho International and TA Corporation to develop large-scale commercial and residential projects in Phnom Penh.
Under the Foreign Ownership Property Law, foreigners can own upper-floor units, but not ground floor units, and up to 70 percent of a condominium project.
According to property consultancy CBRE, this restriction has little impact on foreign buyers, considering that apartments are usually not built on the ground floor.
Outperforming the neighbours
In its inaugural Cambodia Real Estate Highlights report, Knight Frank said it expects the country’s economy to grow at an average of seven percent year-on-year until 2018, outperforming other economies in the region. Much of the growth will come from the manufacturing, agriculture, tourism and construction sectors, with the latter helping to boost the fledgling property market.
Today the city of Phnom Penh is a hive of building activity, “dotted with mid- to high-rise projects under construction”, says Sofia Perez, Research and Consultancy Manager at Knight Frank Cambodia.
She notes that “11 condominium developments were launched in H2 2015, which will add 1,768 units to the existing stock”, in contrast to the 2009 and 2010 period, when only 732 condo units were put up for sale.
Over the next four years, Knight Frank expects the supply of new residential apartments in the city to surge by a whopping 641 percent. Meanwhile, CBRE believes that Cambodia’s condominium market offers great potential, and expects over 9,000 units to enter the market between 2015 and 2018.
However, with thousands of units expected to be ready in the next few years, some analysts are warning of a possible oversupply.
“There are growing concerns about a potential oversupply in the near future, with many anticipating supply to quickly outpace demand. This can be attributed mainly to limited local market demand coming from high-net-worth individuals and expatriates living in Cambodia, which has forced many developers to target the overseas market,” said Perez.
“Taiwanese, Chinese, Singaporeans, Japanese and Malaysians are some of the main overseas investors buying the majority of the residential units.”
In addition, Knight Frank revealed that many developers are looking to increase sales by offering incentives such as upfront discounts, furniture packages and guaranteed rental returns.