Recently, Chroy Changvar district has received a series of big achievements. In early March, the Cambodia-Korea Friendship Bridge project was approved by the Royal Government of Cambodia to build two bridges, connecting the night market to the Arey Ksat area through Chroy Changvar. In May, the second Macro Shopping Mall in Phnom Penh, worth more than $ 12 million, also chose to relocate to Chroy Changva.
In addition to the announced projects, there are rumors in the industry that the fourth AEON shopping mall in Phnom Penh will also be located in Chroy Changvar. At the same time, through the last issue of "Compass Real Estate View", we learned that during the epidemic period, the land price, house price and rent in the Chroy Changvar area remained stable.
(Chroy Changvar Map)
Since Chroy Changvar is still doing well, for investment and real estate, it should still be the focus of investigation, but the area of Chroy Changvar is relatively large, which is the best option to choose? Today's Compass Real Estate uses the method of on-the-spot research to explore the best home purchase outlet of this region for everyone!
As we all know, the Chroy Changvar district is also known as "Duck Island" because the terrain resembles a duck all the time. Combining regional planning and actual development, Compass Real Estate divided this survey into three parts, namely duck head, duck neck and duck body.
Duck Head: Mature or double-edged sword
According to the topography, the southern part is the duck head, which is also the central living area, according to the plan.
(First section of Chroy Changvar from the Wealth Mansion)
The head part is an early development area of Chroy Changvar region. The ferry terminal, night market, Norton University, Sunrise Japan Hospital, Chroy Changvar Middle School and other basic facilities are gathered here. The famous Sokha Hotel and the traditional wealthy area are also here. Living in this area is very convenient.
Surrounding facilities and full living facilities also helped to drive the development of the real estate market in the area. In that area, there is a specific market for new houses, rental houses and land. Of all the properties, condos and apartments are the most popular. For the rental market, the most well-known projects are Arakawa Residence, Bali Resort and other Mekong Group serviced apartment projects. The rental price ranges from $ 300-2,600/month. In terms of new homes, we see that include Wealth Mansion, Morgan EnMaison, The Peninsula, La Vista One and other projects that focus on condominiums with river views and range in price from $30,000 to $180,000 per unit. And the total price for a large condo overlooking the river can go up to $ 400,000+. In terms of the land market, the average price of a plot of land is between $800-3,500/㎡. According to the research, there are also lots of land in the area that are listed as "selling below market price" and also open for negotiation.
(Chroy Changvar Condominium Projects)
Maturity is an advantage of the head, but in Compass's eyes, it can also be a source of regional disadvantages. Due to the large number of people living here and large-scale development is being carried out, it is almost impossible for this central living area to lead to significant changes. With the exception of National Road 6, the Mekong River Road and the main road, the Tonle Sap Road, the remaining roads are narrow and dead-end roads. In addition to other apartment projects, other types of houses in the area that have been built for a long time have weak market competition. If you take an area that has been built since previous times, for example, even if it is a residential area for a villa type, but due to the long construction period, the building can be affected by sunlight and rain, which makes it look old. Properly maintained, due to the long construction time, this is very different from the current style. In ten years, the region will no longer be called a wealthy region.
(Chroy Changvar Traditional Rich Area)
If the mature living environment and market environment have brought a double-edged sword to the development of the region, then the confirmation of the Cambodia-Korea Friendship Bridge is a real benefit. Currently, from the center of Phnom Penh to Chroy Changvar, most cross the Cambodia-Japan Friendship Bridge, the Cambodia-China Friendship Bridge or the ferry. During the congestion, the two bridges were unstoppable, which led to the Cambodia-Korea Friendship Bridge connecting the Phnom Penh Night Market to the Sokha Hotel, Chroy Changva and to Kandal Province. After the completion of the AreyKsat area, the relationship between duck head and the central area of Phnom Penh will be greatly improved and the development of this area will also be growth.
Ducks (middle section): developmental patterns from the head part are beginning to appear
The approximate extent of the duck section is from the head to the intersection of OCIC Boulevard and National Road 6.
According to the plan, it can also be called the central business district and the new municipal central district. As the name suggests, it is a business gathering area such as municipal office buildings, office buildings, shopping malls, etc. The General Department of Taxation, International Convention and Exhibition Center, Ministry of Culture, Chroy Changvar District Administration, and Overseas Cambodian Investment Corporation (OCIC). The headquarters of the company (OCIC) will be located here.
At present, the Chroy Changvar District Administration, the International Convention and Exhibition Center, the Auto City, the Food Palace, and the Sakura Avenue shopping center have all been launched, and projects such as the General Department of Taxation are also in full swing.
(Chroy Changvar Administration)
(Cambodia National Customs School)
In fact, the duck neck part is mainly covered by the Chroy Changvar Satellite City built by OCIC. At present, from Dinosaur Paradise to the north along OCIC Avenue, a number of borey house projects have been built neatly along the line, and they are listed on Sakura Avenue for shopping both east and west sides of the center.
Continuing to the north, you will come to the roundabout at the bridge head of the Chroy Changvar Bridge. Most of the plots around the roundabout have been fenced. It is reported that it is OCIC's new townhouse community. In addition to the projects under construction, the vacant land on both sides of OCIC Avenue has basically been divided into blocks, the staff has begun to measure, and engineering vehicles have come and gone from time to time. Further more, the land near the Cambodia University of Science and Technology has also been fenced for the Satellite City villa project.
(Situation of vacant land on both sides of OCIC Blvd)
It should be recalled that a few months ago, both sides of OCIC Boulevard were still a vacant area full of thick grass. Now the project is planned and construction has started. Judging by the speed, the changes here will be even more special in three months. At the same time, the duck section also has a big advantage, the Koh Norea Bridge. According to the investigation at the four poles of the bridge to support the cable to stand strongly. Bridges and housing projects are built by OCIC at the same time and support for the housing project can be guaranteed.
(Chroy Changvar Bridge)
Duck body (bottom section): The last part can draw on the potential for strong development
The duck body part is the vast area north of the intersection of OCIC Boulevard and No. 6 Highway. According to the plan, it can be divided into high-end villa areas and cultural and sports areas.
In the high-end villa area, the borey community gathers together, and brand developers such as Peng Huoth, Orkidé, Chip Mong, and New World Group have settled in one after another. Continue north along National Road No. 6, you can see Borey Heng Heang City, The Mekong ROYAL, Borey Peng Huoth the Star Jumeirah and other borey communities that have been delivered for occupancy. There are also projects under construction, with different styles and a hundred flowers contending, which is completely Cambodia Townhouses and Villas Architecture Awards.
(Villa in a certain community in Chroy Changva)
The basic living facilities outside each community are completed, and various supermarkets, restaurants, and coffee shops have gathered, forming a small and large-scale community business. It is worth mentioning that the first 7-Eleven convenience store in Cambodia is also sited in this area.
(7-Eleven convenience store)
On the map, there are still large vacancies in this area, which have been basically divided up by brand developers such as Orkidé and Chip Mong. There are many products for buyers to choose from. In addition to various townhouses and villas, private Customized, that is, through the developer to buy the land and choose their favorite architectural style, the developer will build it for the buyer. Of course, private customization only belongs to high-end single-family villas. According to on-site investigation, some high-value-worth individuals have joined the order to make ranks.
(Private custom development projects available)
When you arrive at the cultural and sports area, the first thing that catches your eye is the Morodok Techo National Stadium, the venue for the East Asian Games. In addition, the Win-win Monument, Garden City Golf Club, Safari Park Phnom Penh, Phnom Penh Garden City Water Park and other entertainment facilities are all located here.
A good place for leisure and suburban tourism. At present, only one residential project, World Bridge Sport Village Site, is built in the area. There are few living facilities in the surrounding area. The residential houses are also in twos and threes.
(Morodok Techo and World Bridge )
At present, the duck body part also has favorable development factors such as NaDi Business Arena, Makro and other supporting facilities. When more brand developers enter and develop, and more high-end projects are handed in, this area will become the only wealthy area in Phnom Penh. But it will take more time to witness the formation of such high-end residential agglomerations.
(Rendering of the Borey Nadi by GC City)
For the entire Chroy Changvar district, next year's East Asian Games is an excellent opportunity for regional development, which will promote the rapid improvement of the entire region, but external factors alone are obviously not enough to support it. After the East Asian Games, the development of the region will be based on Driven by the internal capacity of the region, by then, the adsorption power, product fulfillment power, and follow-up planning power of major brands will become important criteria for real estate investment.
Compass believes that in terms of real estate development, there are slight differences in the internal development of Chroy Changvar area: the duck head is divided into early development bases that are mature, and basic living needs such as eating, shopping, and travel can be well met, and they are suitable for direct boarding. ; The duck neck part is becoming more and more mature. It is a new municipal center area with wide main roads. New projects led by brand developer OCIC are in full swing, and new changes will occur every few months; the development level of the duck body part is relatively not high. At present, sports venues, zoos, and water parks are attracting popularity. The area itself is planned as a high-end villa area, and there is still a large area of undeveloped land, which is suitable for long-term investment.
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.