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Hong Kong Property Buyers Look to Cambodia

By in News & Tips with 0 Comments

Phnom Penh skyline

Hong Kong Property Buyers and investors have always set their focus firmly on the United Kingdom and Australia – until now.

Recently they have started to look at SE Asia, and especially to Cambodia, where rental yields are generally higher and capital outlays are very much lower.

A 500 sq ft apartment in London will cost around US$ 533,000 and in Sydney, Australia about US$ 455,300.

A similar-sized condominium in Bangkok, Thailand, will be priced around US$ 200,000.

Martha Yeung, who is the Overseas Department Director of Century 21, was quoted as saying: “A prime 300 sq. ft. studio in Phnom Penh costs about US$ 100,000 but can generate monthly rent of around US$ 1,500. This is a net rental yield of 7.5 percent.

She continued: “This is very alluring for average Hong Kong property buyers who possess moderate investment capital. They read our advertisements, attend our sales promotions and decide immediately to invest in Cambodian properties.”

Ross Wheble, the Country Manager for Knight Frank Cambodia, stated: “The trend we see is that when international developers enter Cambodia and have a strong customer following in their domestic market, many of the purchasers are from their country of origin.

“An example of this would be Oxley Group from Singapore when they launched their two projects, The Bridge and The Peak; many of the purchasers were Singaporean.”

He added that as more Chinese-based developers have entered the Cambodia property and real estate market, such as Meridian International Holdings and Eastland Development, his real estate firm has seen an increasing number of Chinese buyers looking at Cambodia as a property investment destination.

Article via: dotproperty-kh.com

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