Compass Real Estate > Cambodia Real Estate Information > Cambodian Estate News > Let’s Discover! The true occupancy rate of Phnom Penh's high-end condominiums is revealed.

Let’s Discover! The true occupancy rate of Phnom Penh's high-end condominiums is revealed.

2022-05-18
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Summary:The lighting rate is an important data that you can refer to when choosing to live or invest!

In the past two years, affected by the epidemic, Cambodia's real estate market has been relatively calm, and there are still many people who want to invest in real estate. However, everyone seems to focus on prices such as land prices, house prices, and rents, but ignore the one that is closely related to living and investment which is an important data such as living rate, lighting rate!

In Phnom Penh, the capital of Cambodia, the condominium projects which are completed as following:

926 buildings with 5-9 storeys

452 buildings with 10-19 storeys

120 buildings with 20-29 storeys

65 buildings with 30-39 storeys

And 40 high-rise buildings with more than 40 storeys

Among them, there are many condominium projects, some people just only invest and some live in directly, but how many people actually live in those buildings?

To this end, the Compass Vision team conducted a lighting rate evaluation for the condominium project in Phnom Penh.

Special reminder: lighting rate ≠ occupancy rate, this sample selected representative apartment projects with delivery time between 1-5 years ago, covering major districts in Phnom Penh such as BKK District, Chamkarmon District, Makara District, and Mean Chey District , the survey time is the key time period from 19:00 to 21:00 when people return home, which can reflect the living conditions of Phnom Penh apartments to a certain extent.

The following is the survey on the lighting rate of this Phnom Penh Condominium project, with a full score of five stars, please check (names won't listed in order)

R&F City

* Project name: R&F City

* Lighting rate: ★★

* Address: 300m South of Intersection of Hun Sen Boulevard (60m) and Street 271,Phnom Penh, Cambodia

* Delivery time: 2021, June.

* Total units: 9 buildings with 2,376 units

* The latest listing price of second-hand houses: $120,000/unit (one-bedroom) and $140,000/unit (two-bedrooms)

* Rental price: $450-700/month

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Detective description: From 7:00 p.m. to 9:00 p.m., the owners of R&F City condominium went home one after another, or because the project delivery time was still short, the overall lighting of the community was not good. There are still many residential projects on both sides of Samdach Hun Sen Avenue where the project is located, as well as Chip Mong and AEON3 shopping malls, so the main road at night is very quiet and the road is very long, so it is not safe to go alone. However, the project is brightly lit and has a 24-hour security system, so the residence owner is relatively safe.

Urban Village Phase 1

* Project name: Urban Village Phase 1

* Lighting index: ★★☆

* Address: located on Hun Sen Avenue and Norodom Avenue, Meanchey District

* Delivery time: 2020

* Total units: about 828 units

* The latest listing price of second-hand housing: $85,000/unit (one-bedroom), $95,000/unit (two-bedrooms)

* Rental price: $380/month (studio room), $450/month (one bedroom), $550/month (two bedrooms)

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Survey description: Urban Village Phase 1 Project is located in the south of the central city of Phnom Penh. The surrounding facilities are the same, and the surrounding area is very quiet, but the project delivery time is 2020, so the lighting rate is slightly better than R&F City.

Sky Villa

* Project: Sky Villa

* Lighting rate: ★★★☆

* Address: No. 192, St. 163, Sangkat Veal Vong, Khan 7 Makara Phnom Penh (next to Phnom Penh Olympic Stadium)

* Delivery time: December 2020

* Total units: 35 floors, about 256 units

* Project Condition: rental and sale

* The latest listing price of second-hand houses: $930,000-1.47 million/unit (prices vary according to apartment type, floor, and owner's preference)

* Rental price: $3800/month (two-bedrooms); $4100/month (three-bedrooms)

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Survey description: As one of the landmark projects in Phnom Penh, Sky Villa stands at the intersection and is very eye-catching, but during the morning and evening peak hours, the surrounding main roads are also prone to traffic jams. The project not only sells new houses, but also has special rental houses, and the lighting conditions are relatively good.

Silvertown Metropolitan

* Project: Silvertown Metropolitan

* Lighting rate: ★★☆

* Address: Sangkat Beoung Keng Kang 1, Beoung Keng Kang District

* Delivery time: December 2018

* Total units: 15 floors, about 110 units

* New house price: $210,000/unit

* Rental price: $1,200/month (two bedrooms)

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Survey description: From 6:00 to 9:00 pm, the residents went home one after another. There were residents on every floor, but there were still many rooms that were not lit. Silvertown Metropolitan is located in the BKK district. The surrounding area is very lively and the transportation is convenient. There are BKK Market, Noro Mall and other small supermarkets, as well as some Chinese barbecue and other restaurants within 800 meters of the surrounding area, making life very convenient. On the other hand, rooms close to the main road will be affected by noise at night. At the same time, there are more apartments of the same price in the surrounding area, which gives tenants a larger choice of space.

The SkyLine

* Project: Sky Line

* Lighting rate: ★★★☆

* Address: St.134 Sangkat. Veal Vong,  Khan 7Makara

* Delivery time: December 2018

* Total units: there are 2 buildings, about 790 units

* Rent price (can be classified according to different formats): about $500/month (one bedroom)

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Baoli Mansion

* Project: Baoli Mansion

* Lighting rate: ★★★

* Address: Sangkat Mittapheap, 7 Makara District, Phnom Penh

* Delivery time: December 2020

* Total units: 28 floors, about 644 units

* Project Condition: rental and sale

* New house price: $94,000/unit

* Rent price: $350-450/month for one bedroom (rent prices vary slightly according to floor and area)

Survey description: The Sky Line and Baoli Mansion are only separated by a secondary road, and the surrounding facilities are basically the same as the living environment. Both projects are located in the core area of Phnom Penh, with abundant supporting facilities. The Prime Minister's Office, high schools, universities, markets, and hospitals are scattered around, making it very lively. From 7:00 p.m. to 11:00 p.m., residents returned to the apartment, and the overall lighting conditions were good. The surrounding buildings are relatively low, living in two projects, you can see better city views, and the apartments have 24-hour security.

The Peak

* Project: The Peak

* Lighting Rate : ★★★

* Address: Sangkat Tonle Bassac, Chamkarmon District

* Delivery time: 2021

* Total units: 55 floors, about 1,014 units

* Project Condition: New house sold out and rent

* The latest listing price of second-hand housing: $160,000/unit (studio room), $180,000-$260,000/unit (one-bedroom), $300,000/unit (two-bedroom)

* Rental price: $600-650/month (studio room), $750-850/month (one-bedroom), $1250-1550/month (two-bedroom), $1700- 2000/month (three-bedrooms)

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The Bridge

* Project : The Bridge

* Lighting Rate: ★★★

* Address: Sangkat Tonle Bassac, Chamkarmon District

* Delivery time: 2018

* Total units: about 746 units (one-bedroom to three-bedroom, and Penthouse), about 900 units (SOHO)

* The latest listing price of second-hand housing: $150,000/units

* Rental price: $600/month (one-bedroom), $1000/month (two-rooms), $700/month (studio room with fully furnished)

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Survey description: The Peak and The Bridge are also across the street. There are abundant transportation, life, leisure and entertainment facilities such as Naga, AEON 1, Golden Street Plaza, Diamond Island, etc, are all around. People living in this area are relatively many. The two projects are also landmark buildings in the area, with no high-rise buildings blocking the view of the river and city. The two projects are large in size, and the lighting rate is not high from 8:00 to 9:30 in the evening, and they seem to be scattered. At the same time, due to the wide newly built roads in the surrounding area, the speed of vehicles is fast at night, so you need to pay special attention to travel safety when you live here.

Sky Tree Condo

* Project: Sky Tree

* Lighting rate: ★★☆

* Address: Toul Sangke, Khan Russei Keo

* Delivery time: December 2020

* Total units: about 600 units

* Project Condition: rental and sale

* New house price: from $150,000/units

* Rental price: $650-1,200/month (two-bedrooms), $2000/month (three-bedrooms)

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Survey description: The project is close to Chroy Changvar Bridge, and belongs to a traditional residential area. The market, middle school, clinic and other supporting facilities are completed, and life is more convenient, but the traffic is somewhat congested. At night, only a few units have lights on.

Picasso City Garden

* Project: Picasso City Garden

* Lighting rate : ★★☆

* Address: BKK1

* Delivery time: 2021

* Total units: about 144 units

* Rental price: $1350/month (one  bedroom), $1500-$2150/month (two bedrooms)

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Survey description: The project is located in BKK1, surrounded by BKK market and Chip Mong Noro shopping mall. The living life is very convenient and quiet. When Compass Team arrived at the project early when looking for a room, and the lights were not well lit. However, according to the security guard, most of the residents returned from 8:00 to 10:00 pm. The project serves high class customers. It not only has 24-hour security, but also has very strict management and safe.

Prince Central Plaza

* Project name: Prince Central Plaza

* Lighting Rate: ★★★★

* Address: Sangkat Tonle Bassac, Chamkarmon District

* Delivery time: 2017

* Total units: about 1786 units

* The latest listing price of second-hand housing: $50,000-$90,000/unit (studio room), $120,000-$190,000/unit (one-bedroom), $360,000/unit (three-bedroom)

* Rent price: $350/month (studio room), $400-$560/month (one bedroom), $700-$800/month (two bedrooms)

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Survey description: The project is located next to the Bassac River. It has been delivered for 5 years already. Various types of bottom businesses are mature, daily life is convenient, there are many occupants, and the overall lighting condition is good. In terms of architectural style, it is relatively modern, and the security is also very responsible. However, during the morning and evening peak hours, the main road in front of the project is more congested.

Summary

Prince Central Plaza, Sky Line, Baoli Mansion, Sky Villa and other apartment projects in developed areas have more light opening. The Peak and The Bridge are well-known and popular, but due to their large size, the lights are actually on. It is not as good as imagined; the new projects on both sides of Hun Sen Avenue are still under construction and the lighting on rate is relatively low.

From this point of view, whether the basic facilities are mature is a major factor affecting the occupancy rate of the project, so everyone should focus on investigating when investing in real estate.

In addition, please note that due to the influence of objective factors such as home delivery time and owner's departure, this survey was assessed through night visits and visual inspections and may have Inconsistencies with actual data that are just reference document.

……………………

Compass Real Estate Platform, the Cambodian quality housing search platform, the new house projects are strictly selected by the platform, covering all types of apartments, townhouses, villas, land, etc., both self-occupation and overseas investment can be taken into account. In addition, the platform organizes special room and group buying activities from time to time to provide exclusive discounts for home buyers.

At the same time, Cambodia Compass Real Estate Platform also provides one-stop real estate entrustment management services for property investors in Cambodia. There are two modes of property rental/sale and property trusteeship, which perfectly solve the problem of vacancy, resale, contract signing, collection of various fees, property rights renaming, housing handling issues.

Contact number:+855 (0) 69373359 (CN/EN/KH)

Cambodia investment property, real estate trusteeship, Find a house, They are all in Compass!!

  • ---------------------------------- The End ----------------------------------

Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

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