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developers can sell out units of condo to foreigners from the first
floor up (according to co-ownership building law). Despite from
Apartment market which the purpose of Rental. However, after the condominium completed their construction, some investors intend to rent out their units to tenant like apartment market as well. Thats why some people confusing that Apartments
and Condominiums are the same. Certainty, some condominiums
has captured the market for both selling and renting vice versus
apartments. For example, Project Condo Mekong Garden at Chroy
Chong Var, Project Gold 1 at BKK1, Project Condo 240, Apartment Silvertown Mitrol and Project HK Apartment. Etc. Through
our researched, there are around 25 projects condominium completed the construction with the total units of 4,300 by 2016.
PROJECT COMPLETION
500
450
400
350
300
250
200
150
100
50
-
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
Its showed the figure around 12% of the total number over
tinued sooner the problem was solved out and some proj-
CONDOMINIUM STATUS
Postpond
12%
Completed
13%
Off Plan
9%
10,000
8,000
Ongoing
66%
6,000
4,000
with a huge supply every year due for the completion one after
another timely. The highest supply still remains in Chamkamorn District with approximately 13,000 units equal 41% of total market share. Following by 7Makara District which absorb
a very huge project from Olympia City, Sky Villa and Skyline
Project. Those projects are the type of Mixed-Use Development
Project that comprised by Residential, Office Building and Retail Shopping Mall. Going after CBD area, Sen Sok and Chroy
Chong Var Districts also absorb many new supplies as well.
Totally, the supplies will be more than 33,000 units by 2020.
2,000
2009
2010
2011
2013
2014
2015
2016
e 2017
e 2018
e 2019
e 2020 Postpond
Project
By the first semester 2016, total supplies launched had closely to 7,000
units from 19 projects. Comparing to the same period in 2015 was risen 75%.However, the total unit supplied in 2015 had approximately 23,400 units of 73 project while by Q2 2016 the totally supplies are over 33,000 units of 95 projects by 2020.
7,000
6,000
5,000
4,000
3,000
2,000
1,000
-
Q2 2013
Even though many mega projects have launched but the location for their development
Q2 2014
um based on their location, building construction, facilities of the building and the purpose of
pool, gym, steam, sauna, children playground, restaurant, garden, function room and con-
Q2 2016
cannot classified their projects as grade A. Otherwise, we categorized graded of condominithe project. Those grade A projects with the high standard and fully facilities like swimming
Q2 2015
Grade C
5%
Grade A
28%
Grade B
21%
structed with the purpose of mixed use development mostly located in CBD area. Currently,
Grade B+
46%
grade B+ condo has very active in condominium market with the percentage of 46% of total
market share, while grade A 28%, grade B 21% and grade C 5%, However, Cambodia need
many grade C condo due to over limited living standard. If developer extend the market of
grade C, the condominium market will be more interested for local people with limited budget.
Mixd -use development project are the latest new development projects which brings
peopl e to be more comfortable of living, business and enjoyable. Currently, these type of projects
DIAMOND ONE
STAR POLARIS 23
SKY TREE
ONE PARK
SINO PLAZA
are b oth under construction and off plan projects. Those projects set to complete during 2017
PRINCE PLAZA
to 20 20. Normally, these projects always come up with at least 1 to 3 stories of retail store un-
CASA MERIDIAN
der t he residential units. Above retail store, they can share by unit office (SOHO), Parking Place
or Re creational Place like; Swimming Pool, Gym, Steam, Sauna, Fitness Center, Garden, Skybar,
Children Play Ground or sometime those facilities are located on the rooftop of the building. In assumpt ion, the total units of mixed-use development project have approximately 17,000 units.
BODAIJU
SKY 31
THE SKYLINE
SKY VILLA
TK ROYAL ONE
ORKIDE THE ROYAL
THE GATEWAY
THE PEAK
DIAMOND TWIN TOWER
THE BRIDGE
OLYMPIA CITY
D.I.RIVIERA
-
200
400
600
800
units launched from years to year but the sale result is start-
ple etc. By the 1st semester 2016, the sale result is 64%
compare to the same period in 2015 was 5% decreased.
Number of Building
80
70
60
50
8,000
76%
7,000
74%
72%
6,000
40
5,000
30
4,000
20
3,000
10
2,000
1,000
1 - 10 Floors
11 - 20 Floors
21 - 30 Floors
31 - 40 Floors
41 Floors Up
70%
68%
66%
64%
62%
60%
58%
Q2 2013
Q2 2014
Q2 2015
Unit Launched
Q2 2016
Sale Result
time to time. When developer launches their project, they provide customer with a special price or any discount price just
because they want to motivate their customer buying any unit
condo. The price itself is going to increase after the ground
breaking event started and continue to grow up when the construction finished 5th floors, 10 floors and remains risen until
the construction is finished. Therefore, after launched till completion, the price of condominium is 20% to 50% increased.
Selling price for condominium completed is USD 789 to USD 3,947/
sq.m, Project under construction is USD 938 to USD 5,791/sq.m
and project off plan (hasnt started the construction) is USD 778 to
USD 4,048/sq.m. Those price are for all graded of Condominium.
Through this figure, we have found that, the price of condominium under construction are higher than project completion and
project that just launched.
$6,000.00
$5,000.00
$4,000.00
$3,000.00
$2,000.00
$1,000.00
$Completed
On Going
From
To
Off Plan
Average
have categorized into four as A, B+, B and C. The price for grade A is USD 2,300 to
USD 5,791/sq.m, grade B+ is USD 1,718 to USD 3,725/sq.m, grade B is USD 1,000
to USD 3,000/sq.m and C is USD 789 to USD 1,700/sq.m.
Grade B+
From
Grade B
To
Grade C
Average
Because of land market price in CBD area is higher than other area, the
price of condominium in this area also higher than other area. Certainly, the price of
condominium in Chamkarmorn district is $873 to $5,791/sq.m, 7 Makara district
is 1,785 to $2,400/sq.m, Toul Kork district is $800 to $3,725/sqm and Daun Penh
district is $1,900 to $3,120/sq.m. The large gap for Chamkamorn district due to
some grade B projects constructed in the area with lower land market price compared to BKK1 and Tonle Bassac.
7 Makara
Min
Toul Kork
Max
Daun Penh
Ave
Russey Keo
Min
Mean Chey
Max
Sen Sok
Porsen Chey
Ave
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Apartment Grade A
Sokha Residence
Bellevue
ISL Modern
Apartment 240
Chateau the Meliya
Garden Mansion
Central Mansion
Maline
Himawarri
Samdech Pan
Palm Place
Skyline
Les Jadins Du Basacc
Syphon
Sivertown
Greater
Sokhom Residence
Sun City
Infinity 18
Gold One
Royal Home
Hamptons
Embassy Place
Some
form
grade
themselves
from
apartment
has
trans-
condominium
vice
versus
condominium. While some apartment also operate as hotel as well. According to our study showed
that, grade A apartment currently has 23 buildings with more than 1,500 units. Mostly those grade
A
apartment
located
in
Chamkamorn
District.
50
100
150
14,000
12,000
10,000
8,000
6,000
4,000
2,000
ning business and working. By the first semester 2016, there have 291 apartment buildings in
Phnom Penh closely 7,000 units plus the condominium which operating on the market now.
200
250
the hottest zone for residential and commercial. Owing to the fact that this
APARTMENT BY GRADE
mately 1,700 units or 45% of total market share. Following by Tonle Bassac Commune which absorb around 600 units or 16%, Toul Tumpong
21%
15%, Phsar Derm Thkov 12%, Toul Svay Prey 6%, Boeung Trabek 2% and
22%
Tumnub Toek 3%. Through the building under construction figure show
that among those commune in Chamkamorn District, Toul Tumpong and
Phsar Derm Thkov will come up with many apartments and condomini-
58%
um building than any other area in Chamkarmorn. Due to the fact that
land market price in Boeung Keng Kang and Tonle Bassac block has been
increase rapidly and difficult to find the vacant land for development.
Grade A
Grade B
Grade C
1,800
1,600
1,400
1,200
1,000
800
600
400
200
-
Tonle Bassac
Toul Tumpong
Phsar Derm
Thkov
Boeung Trabek
Tumnub Toek
96%
7,000
94%
6,000
92%
5,000
90%
4,000
88%
3,000
86%
2,000
84%
1,000
82%
80%
Q2 2013
Q2 2014
Unit Supply
Q2 2015
Q2 2016
Occupancy Rate
can base on some criteria like; The Location, The Price, Size, Service,
for Two Bedroom Unit range from USD 1,000.00 to USD 3,700.00/
month, for Three Bedroom Unit from USD 1,500.00 to USD 4,000.00/
month and for Penthouse, the type of special unit in one apartment building, range from USD 3,850.00 to USD 6,9850.00/month.
$1,400.00
$1,200.00
$1,000.00
$8,000.00
$800.00
$7,000.00
$600.00
$6,000.00
$400.00
$5,000.00
$4,000.00
$200.00
$3,000.00
$1 Bedroom
$2,000.00
$1,000.00
$Studio
1 Bedroom
Min
2 Bedrooms
Max
3 Bedrooms
Penthouse
Average
1 Bedroom
2 Bedrooms
Min
10
2 Bedrooms
Min
Max
Average
3 Bedrooms
Penthouse
Max
Average
3 Bedrooms
11