Cambodia has enjoyed continual growth in its GDP in the last nine years, and the country’s economy is predicted to strengthen well into the future as it enjoys rapid modernisation. Its property market, particularly in Phnom Penh and the surrounding urban areas, have witnessed a surge in prices as demand for quality, high-end accommodation grows. This has been driven by the influx in foreign investors attracted by the high returns on offer. The introduction of a law in 2010 allowing foreigners to have 100 percent ownership of property in Cambodia has also heavily driven the condominium market. The law states foreigners can own property that is above the ground floor in a building with a registered strata title that was constructed after 2006. At least 20 percent of the building must be allocated locally. As available space in the heavily developed city centre becomes increasingly scarce, buyers are looking to up-coming outlying areas, such as Chroy Changvar. Here, huge development is set to transform the peninsula, sending prices sky-rocketing ahead of the 30 percent enjoyed on the peninsula in 2014.
Why Invest in MekongView 1?
MekongView 1 is set in prime location on Chroy Changvar peninsular, across the Tonle Sap River from central Phnom Penh. The iconic, 12-storey building is situated close to the river and is surrounded by low to medium-high structures, meaning 360-degree views sweeping across the water and out to the countryside can be enjoyed. With Chroy Changvar pitched to be the next premium property hotspot, bargains can still be snapped up in the area. MekongView 1 offers all of the luxury amenities and design concepts combined with top class facilities from Singapore, at a fraction of the price of similar accommodation in central Phnom Penh. The location, away from the hustle and bustle of city life also allows residents to enjoy the fresh air, and peace, quiet and serenity of an almost rural setting. Access to central Phnom Penh takes a mere 10 minutes across the Japanese-Cambodia Friendship Bridge, with National Road 6 sitting close by.
A Helping Hand
Investing in MekongView 1 couldn’t be easier, thanks to a series of schemes put in place to help buyers purchase their dream property. These include buy-back and rental plans, and condominium purchase loans with low interest rates. For more information on financial options, please contact one of our advisors.
Condos Vs Villas
Condominiums offer a convenient living that villas are unable to capture in urban space. In Phnom Penh, condos are quickly surpassing other forms of accommodation as the more popular way of living, especially in urban areas where people tend to lead busier lives. Condominium developments are also often well located next to local amenities and good access routes, some offer resort-like amenities, such as MekongView 1’s maintained green, communal spaces. Lower maintenance costs are another benefit, with the exterior of the building often remaining the responsibility of the building’s managers.