Cambodia (Phnom Penh)

[naemlo]

Originally Posted by avenger8888

Am in Phnom Penh and staying at Sen Hen Hotel on corner of Street 600 and Street 313. Noticed lots of KTV joints around walking distance but don't dare to go in as they look quite seedy.

Guess most of your business activities are in Tuol Kouk area else seldom ppl will stay there. 1 street parallel to u is 592 which has a lot of local KTVs... Since u are alone, u better off and safer to venture into foreigners infected area. Tuk tuk to riverside at about USD 3-4. If u die die must go, there is 1 nice KTV near u, Egypt KTV. I went once but about 2 yrs ago. It is junction of Mao Tse Tong and 112. Google for it, about 5-10 mins from your hotel. Ger about 60-80 USD LT.

BTW, pray that it dun rain heavily else u won't be able to get back to hotel. I drove by the street a few times during heavy rain, only SUV can go thru... tuk tuk will need to go 1 big round else will struck in the flood.

[TonyCheong]

Originally Posted by naemlo

Guess most of your business activities are in Tuol Kouk area else seldom ppl will stay there.

Ask you one question about real estate.

There's one commercial and residential mix use development call The Bridge.
Have the locals shown high interest in investing or mostly Japanese speculating?

As you're boots on the ground I'd like to hear your opinion.

[BlurBlock]

Guess you must be the marketing agent. LoL. This project have about 50% local buying.

Originally Posted by TonyCheong

Ask you one question about real estate.

There's one commercial and residential mix use development call The Bridge.
Have the locals shown high interest in investing or mostly Japanese speculating?

As you're boots on the ground I'd like to hear your opinion.

[TonyCheong]

Originally Posted by BlurBlock

Guess you must be the marketing agent. LoL. This project have about 50% local buying.

Sorry hor I'm not property agent.

Thanks for the info.

[naemlo]

Originally Posted by TonyCheong

There's one commercial and residential mix use development call The Bridge.
Have the locals shown high interest in investing or mostly Japanese speculating?

U are the 2nd samster to ask me. This development is in the prime area. I think they selling about 3000 USD per sqm.

PP itself has a population of about 2 millions and small no. of true expats. The large no. of foreigners, ie teachers are low pay expat. PP is expanding outwards.... from 1 end to another end takes about 45 mins in bad traffic.

Rich locals prefer to stay in so called bungalow/castle which occupies about 1 or 2 hectare of land (can play hide n seek). They love to buy lands instead of property. Some might buy as they have nowhere to spend Middle class will never able to afford these units. Thus left with foreigners. I know of a Chinese rich man who bought about 20 units there.

In term of rental, only expat with company package or very well paid will stay there and nearby within 15-30 mins drive there are plenty of condos/apartments which are more affordable for expat.

Whether is it a good investment now depends on how u look at my story... Personally, buy to stay is good but buy to invest, hmmm ??????

[TonyCheong]

Originally Posted by naemlo

Whether is it a good investment now depends on how u look at my story... Personally, buy to stay is good but buy to invest, hmmm ??????

Thanks after your feedback I have a better understanding.

I only know this theory that foreigners can only support so much of the market.
Singapore is a very good case study.
Locals are the ones that make up the fundamentals.
If very low local support then it's not going to have a good yield unless the foreigner population increase tremendously.
Maybe can learn from Singapore.

As you said if buy for own stay that's fine but for investment is a different story.
This again same situation as Thailand luxury condos.
Easy to buy, hard to sell at a good profit.

For a safer investment better to go for mid price apartments/condos.

[Golden question]

It seem like quite a lots of development is happening in PP now especially.First went 3 years ago and everything is dark at the other side of riverside but now is full of lights from building at the opposite end and a merry go round.

Indeed lots of construction project is happening at PP.There was a very big project currently constructing beside the Olympic stadium and more taller modern building is been build like vanttac building.I too was looking at property over there but it seem to get a good rental yield might be a bit tought.

As what bro namelo share,small expat here.My take is they are been build to cater to Chinese market as rich Chinese like to buy property.Even diamond island have street name in Chinese.But one thing is their earning power have increase as 3 years ago,their night market was quiet with few stalls but now is full of stalls selling clothes.

Anyway is out of sex topic for this forum,just my observation only

[Golden question]

Explore one massage cum ktv joint.Saw a girl with mini skirt went in so just went in explore.Went in,straight away counter girl told me in Chinese,they only offer body or leg massage and nothing else.I pause a while and she say again.Since there might as well try my luck or just a massage.Went in room,ask to change to their massage 'uniform' and immediately know should be nothing.So avoid this if u are looking for massage with happy ending.

St 136 paradise massage ktv

[Golden question]

Btw,any senior bro happen to know any massage parlour with decent massage and have happy ending?I mean not those piano type

[naemlo]

Originally Posted by Golden question

It seem like quite a lots of development is happening in PP now especially.First went 3 years ago and everything is dark at the other side of riverside but now is full of lights from building at the opposite end and a merry go round.

A lot of locals moving over to the opp side of the river cause it is cleaner, road condition wider n better. The land still cheap and facing river too. No different except every day needs to go thru the Jap bridge. Hotels and malls are coming up, soon that area will be self sufficient then no need to go over to the other side.

Originally Posted by Golden question

Btw,any senior bro happen to know any massage parlour with decent massage and have happy ending?I mean not those piano type

In PP, I have yet to find decent massage with sex.... these 2 are always separated.

[TonyCheong]

Originally Posted by Golden question

As what bro namelo share, small expat here. My take is they are been build to cater to Chinese market as rich Chinese like to buy property. Even diamond island have street name in Chinese. But one thing is their earning power have increase as 3 years ago, their night market was quiet with few stalls but now is full of stalls selling clothes.

Diamond Island is another bubble?

http://www.property-report.com/cambo...nvestors-34672

Developers of a 100-hectare island development in Phnom Penh, Cambodia—intended to replicate Singapore’s successful Marina Bay Sands complex—highly depend on wealthy Chinese investors for the project’s future.

“Mainland Chinese, especially Shanghainese, are very impressive,” Um Bun An, sales manager at Casa Meridian, one of the condo developers on Koh Pich, told the New York City-based publication. “They don’t need loans. They make their purchases in cash.”

Originally Posted by naemlo

A lot of locals moving over to the opp side of the river cause it is cleaner, road condition wider n better. The land still cheap and facing river too. No different except every day needs to go thru the Jap bridge. Hotels and malls are coming up, soon that area will be self sufficient then no need to go over to the other side.

A very big potential on this side.

[xiaodikou]

Originally Posted by naemlo

A lot of locals moving over to the opp side of the river cause it is cleaner, road condition wider n better. The land still cheap and facing river too. No different except every day needs to go thru the Jap bridge. Hotels and malls are coming up, soon that area will be self sufficient then no need to go over to the other side.



In PP, I have yet to find decent massage with sex.... these 2 are always separated.

bro...other then soul where else can find massage with happy ending in PP?
I heard there was a fish tank massage at luxury, but was kenna raided. Still around now boh?

[naemlo]

Originally Posted by TonyCheong

Diamond Island is another bubble?

Diamond island is another prime development. Land price about 5000 USD per sqm.

The smarter Chinese are moving away from these places because the land is far too expensive. Slightly south of PP, along highway 21 about 30-45 mins drive from Diamond island. A huge area is under development by Chinese. Land price bought by the developer is 60 USD per sqm. The plan is to build a enclose self sustain "village" with international school, malls and so on..... I went there a few times n this is the place where money will grow.

Seriously, those with spare cash, it is better to frequent go n look see look see yourself. Reading n hearing will not do good.

Originally Posted by xiaodikou

I heard there was a fish tank massage at luxury, but was kenna raided. Still around now boh?

Used to have a lot of sex shops in PP but due to NGO pressure, a lot are forced to close. Only those with mighty power, still operating openly. Dunno about others as always brought there by local. Dunno how to give u direction. In the car, turn here, turn there.

I was in luxury few weeks ago.... didn't go for sex but only foot massage.

[TonyCheong]

Originally Posted by naemlo

The smarter Chinese are moving away from these places because the land is far too expensive. Slightly south of PP, along highway 21 about 30-45 mins drive from Diamond island. A huge area is under development by Chinese. Land price bought by the developer is 60 USD per sqm.

Hahaha history repeating itself again.

http://www.nytimes.com/1999/10/01/bu...uzhou.2.t.html

The China-Singapore Suzhou Industrial Park, which was intended eventually to become a self-contained manufacturing, urban and high-technology center covering 70 square kilometers (27 square miles), was a joint project with the Chinese central government in Beijing. But it ran into trouble when local officials began a rival operation, the Suzhou New District industrial park.

Mr. Lee said the city government was "using us to get investors in, and when investors came in, they said: 'You come to my park, it's cheaper."'

US$60/m is dirt cheap!
US$60/m no huat also difficult.

Too bad foreigners cannot buy land under their own name but only with company name.

[naemlo]

Originally Posted by TonyCheong

US$60/m is dirt cheap!
US$60/m no huat also difficult.

1 of the partners is my friend, if u want to purchase units there to stay, to do business, I can intro. Another of my friend who marries a Khmer, bought a bungalow there for about 100k USD.