how to find the best-value real estate rentals in today’s ... · lamps and large wardrobe. rent...

How to Find The Best-Value Real Estate Rentals

In Today’s Cambodia

An International Living Australia Report

www.ilaustralia.com

http://www.ilaustralia.com

http://www.ilaustralia.com

How to Find The Best-Value Real Estate Rentals In Today’s Cambodia

Author: Janet Nisted

Editor: Barbara Ross

Designer: Ian Fleming

Cover Photos:©Barbara Ross ©Eoin Bassett ©Barbara Ross

© Copyright 2016. International Living Australia Publishing Ltd., Elysium House, Ballytruckle, Waterford, Ireland. All rights reserved. No part of this report may be reproduced by any means without the express written consent of the publisher. The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. Registered in Ireland No. 285214

3


Introduction

The small Kingdom of Cambodia has a range of lifestyle options to entice expats. Not only is the country economically stable, it’s safe, and the Cambodian people are incredibly friendly and welcome foreigners with open arms.

Most foreigners equate Cambodia with the world famous UNESCO-registered temples of Angkor Wat. But Cambodia offers much more.

First and foremost is the lowest cost of living in Asia. A couple can live here very comfortably for less than $2,600 per month, even less outside the cities.

But you don’t have to give up Western luxuries like modern supermarkets or fine dining. In Phnom Penh you’ll find top restaurants that cater to every taste—French, Chinese, Italian, Spanish, Australian and Cambodian. For example, you can eat a quality meal at an Australian-owned restaurant for under $7 or enjoy dinner for two at an authentic Italian restaurant for less than $25 including excellent wine.

At supermarket chains in Phnom Penh and Siem Reap you’ll find any local or imported item you desire, often at cheaper prices than in Australia (try a few hundred dollars per month per couple for groceries). The main cities also offer modern, Hollywood cinemas where you can enjoy the latest blockbusters.

Rental accommodation is extremely affordable, even in the most sought-after parts of Phnom Penh, with prices significantly lower in the smaller provinces, cities and towns. For example, just $428 a month covers a one-bedroom apartment in one of the nicest neighbourhoods at the centre of Phnom Penh.

Choose between life in a colonial city, with all the modern comforts of the West, or a more relaxed lifestyle in one of the country’s pristine, undeveloped beach areas.

Unlike some other countries in Southeast Asia, the visa process is very simple in Cambodia. You just turn up at the airport and pay for a one-month visa, then you can renew it for up to a year at a time. As long as you follow the laws of the land you are welcome to stay in the country for as long as you want.

4


Importantly, healthcare in Cambodia is both high quality and inexpensive, compared to services in Australia. Everything from basic healthcare check-ups to extensive surgery and comprehensive dental treatments are available in Phnom Penh at very affordable prices. For example, you can see a specialist for around $65, including physical examinations.

Medical tourism, particularly for dental work, is a growing industry in Cambodia, chiefly in Phnom Penh, as more regular visitors to the country take the opportunity to get lower cost, high quality treatments.

Read on to find out more about the large choice of great value rental property on offer in friendly Cambodia.

Sincerely

Jackie Flynn

Publisher, International Living Australia

5


Phnom Penh

The bustling capital of Phnom Penh has lush green areas throughout the city. ©Eoin Bassett

Once famed as the “Pearl of Asia”, the Cambodian capital, Phnom Penh, has lots to offer expats. You’ll find a stunningly low cost of living, bustling markets and a thriving food scene, set to a backdrop of colonial French architecture and Buddhist temples.

Phnom Penh was originally founded in 1372, and remains the country’s centre of business and commerce. It’s a modern, urbanised city with an exotic feel. French colonial buildings, traditional Khmer landmarks, tree-lined boulevards, temples and local markets combine to create a city that’s both exciting and beautiful.

Dubbed “The Charming City”, an active beautification program has rejuvenated both colonial-era buildings as well as traditional Khmer structures. Parks were renovated, roads repaved and street signs replaced. Special attention is given to celebrating Cambodia’s 28 annual public holidays, with spectacular displays attracting both tourists and locals.

There are plenty of modern shopping malls, and a chain of Hollywood-style cinemas. No matter what you are after, it’s likely you will find it in Phnom Penh.

6


Phnom Penh is a foodie heaven, with huge variety at an eclectic mix of establishments. Restaurants abound, from street stalls selling fried noodles and baguettes with pâté, to hugely popular barbecue joints or coffee shops selling rice dishes. There are restaurants offering Italian, Chinese and French dining experiences that rival the best in Sydney, for a tenth of the price.

Expat John Grady fell in love with Phnom Penh’s beauty, the warmth of its people and the incredibly low cost of living. He says, “Apartment rentals in nice areas of the city are available for as little as $350 per month. But what really amazed me was the low cost of eating out at great local restaurants. You can fill yourself with barbecued meats, grilled fish or Khmer soup, and endless bowls of rice or noodles, for less than $7.”

RENTALS IN PHNOM PENH

It has been estimated that at least 80,000 expat and foreign residents now live and work in Phnom Penh, including both Westerners and those from other Asian countries such as China and Korea.

A property development boom began in 2006, and today expats are spoilt for choice when it comes to rental accommodation. For under $350 per month, one-bedroom apartments are available. But if your budget stretches further, $2,500 per month will get you modern Western-style apartments that offer great value for money with lots of extra luxuries.

• A one-bedroom, one-bathroom furnished apartment is available in the Riverside area. The apartment has a large balcony, air conditioning and a Western kitchen. Monthly rent: $344.

• Also in the Riverside area, a one-bedroom, one-bathroom apartment is available. The apartment is fully furnished, and the rent includes Pay TV and WiFi. Monthly rent: $480.

• An 80-square-metre apartment, centrally located, one block from Norodom Boulevard is available. The third-floor apartment is fully furnished, has one bedroom and one bathroom, and a large four-metre bay window. The rent includes WiFi and Pay TV. Monthly rent: $650.

• A furnished, third-floor, one-bedroom, one-bathroom apartment is for rent one block from Riverside in Phnom Penh. The apartment is 63 square metres, and features a large living room with an open kitchen, and a balcony. Furnishings include a flat screen TV, fridge, freezer, gas stove, washing machine, lounge suite, queen size bed, lamps and large wardrobe. Rent includes WiFi, Pay TV and water. Monthly rent: $760.

• A fully-furnished serviced apartment is for rent in the central district of 7 Makara. It has one bedroom and one bathroom and a large living area and balcony. Monthly rent: $764.

• A brand new two-bedroom, two-bathroom apartment is available in BKK3, just 5 minutes from BKK1. The 80-square-metre apartment is fully furnished, has a balcony off the living room, open plan kitchen and master bedroom with ensuite. Parking is provided, plus internet, Pay TV and 24-hour security. Monthly rent: $1,042.

• A two-bedroom penthouse apartment is for rent in 7 Makara, near the Olympic Stadium. The fully-furnished property has a fully-equipped kitchen, and the block has its own gym and pool facilities. Monthly rent: $1,112.

7


• A two-bedroom, two-bathroom newly constructed apartment offers contemporary modern living in sought-after Toul Kork. The apartment is fully furnished and has all modern appliances, pool and gym. The apartment building comes with secure parking and 24-hour security. Monthly rent: $1,181.

• At the upper end, a five-bedroom, six-bathroom townhouse over three levels is available in Boueng Trabek. Stylishly designed, and fully-furnished, this spacious and elegant townhouse includes car parking and a huge balcony. Monthly rent: $2,500.

See here for more rentals: http://www.phnompenhrealestate.net/ and http://sunnyresidentrealty.com/.

http://www.phnompenhrealestate.net/

http://sunnyresidentrealty.com/

http://sunnyresidentrealty.com/

8


Siem Reap

The Angkor Wat Temple Complex draws millions of visitors to the area each year. ©Barbara Ross

Siem Reap’s proximity to the Angkor Wat Temple Complex means that millions of tourists a year visit the area. As a result, Siem Reap is a microcosm of everything related to Cambodian culture and heritage. The city itself is nicely representative of colonial Cambodia, with the Old French Quarter a showcase for French and Sino-Khmer architecture.

It wasn’t long ago that the major streets in Siem Reap were unpaved. There were no shopping centres, no cocktail bars...in short, it was a place only the most intrepid expats would consider living in. It was mainly just a place to stay when exploring the nearby temples at Angkor Wat.

These days Siem Reap is rapidly expanding. French-colonial buildings in the centre have been restored. Many of these buildings, along with Chinese shophouses, host businesses that cater to the huge number of tourists who now come to see the Angkor temple complex. Just 15 minutes from town, Angkor is easily the country’s most famous attraction.

9


Yet, despite the tourism trade, Siem Reap holds onto its small-town charm. “The lifestyle is so stress-free…life here is at a different pace,” says expat John McDermott.

Expat Narisara Murray says, “Even with all the international travellers and businesses that come here, it’s still a small town. You can get stuck in traffic behind a herd of cows, you can watch the monsoon storms sweep across the rice fields and you can hear the frog chorus in rainy season and roosters every morning. You’re a lot closer to nature than you are in a city”.

With the growth of tourism, all types of services are rapidly improving, from medicine to internet access. Roads through town that were once unpaved are now lined with international restaurants, galleries, bars and boutiques, and new businesses pop up every day. “That’s what’s so exciting about Siem Reap,” John says. “Everything is growing and changing.”

In addition, there is an entire food and beverage industry that has developed to keep the city’s guests and expats well taken care of. The best example of this is Pub Street, a long road that is packed with every type of bar and restaurant imaginable.

It’s estimated that around 3,000 to 6,000 expats live and work in Siem Reap. Real estate prices are significantly lower in Siem Reap than in Phnom Penh, and offer excellent value for money. Villas can be leased for less than $500 per month—this would give you a two-bedroom residence. If you’re after something more upmarket, however, you can live in luxurious surroundings in Siem Reap for very reasonable prices.

Narisara explains: “You can live in a wooden Khmer-style house on stilts for a couple of hundred dollars a month, or you can rent a modern villa with a landscaped garden a pool and sauna for a couple thousand dollars a month.”

RENTALS IN SIEM REAP

• A brand new two-bedroom villa is for rent in Sala Komrerk. The villa is fully furnished with a spacious living area and large kitchen. Located just five minutes’ drive to Old Market. Monthly rent: $484.

• A Khmer wooden house is available to rent in the Navutu area, five minutes’ drive to the Old Market. The house is fully furnished, with two bedrooms, two bathrooms, a fully-equipped kitchen and a tropical garden. Monthly rent: $618.

• A four-bedroom duplex villa is available. The villa includes a yard, and garage, and is located in a quiet, safe neighbourhood. Monthly rent: $691.

• A two-bedroom villa, just a five-minute drive to Pub Street, is available for rent. The villa is Western-style, with a spacious living area, a large garden and parking space. Monthly rent: $691.

• A one-bedroom, two-bathroom apartment is for rent in the Svang Dong Kom area. The apartment is Western-style, with a modern kitchen. It is fully furnished, and comes with air-conditioning, internet and Pay TV. There is a large garden, parking space and large swimming pool. Monthly rent: $903.

• A two-bedroom, two-bathroom apartment in the Tapul area is available for rent. This attractive brand new apartment has an open plan living area that connects to a kitchen and a balcony. The apartment complex also features a rooftop terrace with a view of neighbouring areas. Monthly rent: $1,042.

10


• A two-bedroom, two-bathroom apartment is for rent in the Lei Market area. The apartment is fully furnished and stylishly appointed. It has access to a private balcony and a lovely outdoor swimming pool, plus a parking space. Monthly rent: $1,112.

• At the upper end, a modern five-bedroom, six-bathroom villa is for rent in the Kok Chourk area. Set amongst tropical gardens, in a quiet neighbourhood, the property is within a secure compound. The property has an undercover rooftop barbecue area with sweeping views of the surrounding countryside. Monthly rent: $2,061.

See here for more rentals: http://www.ips-cambodia.com/property-search/.

http://www.ips-cambodia.com/property-search/

11


Sihanoukville

Sihanoukville is a popular relaxation spot for expats and travellers alike. ©International Living

Sihanoukville is a beach town some 225 kilometres southwest of Cambodia’s capital city, Phnom Penh. It is a relatively small tourist city, with a population of around 90,000 people. Its popularity stems from the large number of pristine beaches and undeveloped islands. It also has the best tourist infrastructure.

After Siem Reap and Phnom Penh, it is Sihanoukville where foreign tourists and expats, as well as Cambodians, come to relax and enjoy the ocean breeze.

Expat Brett Dvoretz says “Most days here are beautiful: warm and sunny, with a pleasant ocean breeze sweeping in from the Gulf of Thailand. In the evenings, vibrant splashes of magenta, fiery orange and bright pink dance across the sky as the sun sets over the water. Everywhere I look, I see coconut palms and sandy beaches. Some call it paradise. I call it home”.

The most popular beach for expats is Otres Beach—it’s quite remote and unaffected by development. Otres is the beach that expats in the know go to when they want to kick back with a beer at one of the beachside stalls or go for swim in the crystal clear water.

There are a cluster of 20 or 30 islands off the coast that are nearly completely undeveloped, apart from some bamboo huts and bungalows. It’s easy to get away from the stress of modern life here.

12


Estimates of between 2,500 to 5,000 expats live in Sihanoukville on a full time basis, with that number increasing during high season.

The cost of living is a so low that a single person can live very comfortably on around $1,300 per month, without having to budget. Enjoy the luxury of regular house cleaning for just $6.50 a day. Eating out is not a luxury here—for $2.50 you can have a freshly-cooked meal at a restaurant.

Until a few years ago the only type of property being built in Sihanoukville were hotels or local townhouses. Recently, however, there has been a rapid increase in large-scale modern property developments planned for the city, with a number of sizeable apartment complex projects being announced or already under construction.

Whilst you can rent a two-bedroom apartment from around $415 per month, if your budget allows, there are some great-value options that provide a lot more space and amenities. Brett lives in a Western-style villa and pays only $435 a month.

RENTALS IN SIHANOUKVILLE

• A third-floor, two-bedroom, two-bathroom apartment is for rent in the Sangkat 4 area. The apartment is fully-furnished, with a balcony, air conditioning and free WiFi. Monthly rent: $415.

• A single-storey house is for rent in the central part of Sihanoukville. The house has three bedrooms, three bathrooms and is fully furnished. Monthly rent: $553.

• A two-storey, five-bedroom, six-bathroom villa is for rent in Preah Sihanouk province. The villa is a huge 136 square metres, and there is a generous outdoor garden area. Monthly rent: $970.

• A two-storey, three-bedroom, four-bathroom villa is for rent. The villa sits on 160 square metres of land, is fully-furnished and has parking for two cars. Monthly rent: $1,108.

• A three-bedroom, four-bathroom apartment is for rent in the Sangkat 4 district, close to Hawia Beach. This fully-furnished apartment includes 24-hour security, free WiFi and free weekly cleaning. The complex has a large outdoor swimming pool. Monthly rent: $1,108.

See here for more rentals: http://realestate.com.kh/.

http://realestate.com.kh/

13


Battambang

The two-storey Governor’s Residence, with balconies and wooden shutters, is a handsome legacy left to Battambang by its European settlers. ©Wendy Justice

Battambang was originally settled during the 11th century and has continually grown and prospered as a major trading hub for the northwest of the country. While technically the second largest city in Cambodia (the current urban population is over 180,000), Battambang still retains its colonial small town charm.

As with Phnom Penh, the French developed the city. Key colonial public structures were built during the time of the French protectorate, much of which still stand today and set the atmosphere for the city.

Battambang has its own airport, although it doesn’t have much in the way of expat creature comforts. You won’t find any modern shopping centres or cinemas here. Despite this, there are around 1,000 to 2,000 expats who call Battambang home, preferring a pace of life that is slower than in the larger cities.

The most significant influence in the expat community comes from the large number of European residents based here, with several French-owned restaurants, bars and hotels, and guesthouses. While there are a number of other expat-orientated restaurants, there is very little in the way of nightlife with only a handful of bars around town.

14


Whilst one- and two-bedroom apartments can be found for around $400 per month, there is good choice at the more luxurious end.

RENTALS IN BATTAMBANG

• A three-bedroom, two-bathroom apartment in Sla Ket area is for rent. Just one kilometre from the night market, the apartment is fully-furnished and has a large balcony. Monthly rent: $360.

• A two-bedroom, two-bathroom, single-storey house in Svay Por is for rent. The house has a large kitchen and living room, parking space and garden. Monthly rent: $415.

• In the Boeung Reang area, there is a 114-square-metre apartment for rent. It has two bedrooms and two bathrooms, a modern well-appointed kitchen and superb views from the balcony. Monthy rent: $1,108.

• A four-bedroom, four-bthroom villa is for rent in the Boeung Reang area. This single-storey villa is fully furnished and has a large interior courtyard. Monthly rent: $1,163.



15


Kep and Kampot

The quiet beaches of Kep are where locals and expats holiday from the busier cities in Cambodia. ©Barbara Ross

The former French colonial beach resort of Kep is a favourite of expats, with its backdrop of faded pre-1960s villas and fantastic fresh crab market. Nearby is Kampot, which is a much-loved riverside town popular with many expats. The two towns go together—they are close geographically and are both delightful. They are just a scenic three-hour drive from Phnom Penh.

With a current population of just over 40,000 people, Kep is one of Cambodia’s smallest provinces. Established by the French in 1908 as a coastal retreat to escape the hot

16


season, Kep became known as the “Saint Tropez of Southeast Asia” for its similarities to the seaside resorts of France.

Kep is far more relaxed than the busier beaches and city of Sihanoukville. Life is quiet here, however, and you won’t find modern supermarkets. Fresh food is abundant however. At Kep’s New Market, a sprawling labyrinth of stalls, you can purchase anything from sprigs of green peppercorns to bright-blue crabs still sloshing about in net-covered buckets. Fresh produce is abundant: Hot-pink dragon fruits, fan-shaped oyster mushrooms and ultra-sweet bananas.

The main draw of Kep is the beach, and the famous Kep crab market. Here you can eat crabs fresh from the sea at one of the many wooden shack restaurants perched above the ocean on a stilted waterfront pier. The market attracts locals and expats of all nationalities who enjoy Kep crab cooked in delicious Kampot pepper sauce.

Kampot is a small city with a population of just under 40,000 people. It is known for its world-famous Kampot pepper, which is gown by the same families for generations.

The province is also known for cultivation of the pungent durian fruit, which is considered a delicacy in Cambodia, especially the type of durian grown in Kampot. A large durian statue stands proudly at the roundabout at the entrance to the city.

Kampot is a sleepy city centred around the riverside. The cool river breezes bless Kampot with a more comfortable climate than much of Cambodia. Expat Annie Pizey “fell in love with the Kampot river: its twists and turns, the reflection of the mountains on the water.” According to her, “The local culture and the scenery are magical. You want to pinch yourself to see if you are dreaming; it’s that unreal.”

Tourism has slowly developed due to its proximity to the Damrei and Bokor mountains. All along the riverside are bars and restaurants that cater to expats and tourists.

The numbers of expats in Kep and Kampot are quite small but it is thought there are over 1,000 people of different nationalities living and running small businesses in both places on a full-time basis.

You can find houses to rent in both towns for $400 to $600 per month. There is more choice in Kampot, especially if you’re after something at the top end of the market.

RENTALS IN KEP AND KAMPOT

• A one-bedroom, two-bathroom apartment is for rent in central Kampot. Partly furnished, the apartment is within walking distance to a shopping centre. Monthly rent: $373.

• A newly constructed two-storey house is for rent just 200 metres from Kampot Market. With three bedrooms and two bathrooms, the house is partly furnished. Monthly rent: $553.

• A three-bedroom, three-bathroom house is available for rent just three kilometres outside Kep. It has a large open kitchen and spacious outdoor area. Monthly rent: $622.

• A modern, spacious two-bedroom, two-bathroom apartment is for rent in the centre of Kampot town. Beautifully furnished over two storeys, the apartment has a well-equipped kitchen and loft master bedroom. Monthly rent: $1,386.

17


• A four-bedroom, four-bathroom villa just two kilometres outside Kampot town is for rent. Fully furnished and surrounded by a leafy garden, this two-storey villa is located in a quiet area. Monthly rent: $2,078.



how to find the best-value real estate rentals in today’s ... · lamps and large wardrobe. rent...

Documents