Logo of Phnom Penh Post newspaper Phnom Penh Post - More people turning to Kingdom estate agents

More people turning to Kingdom estate agents

Content image - Phnom Penh Post
A for sale sign is posted in front of a plot of land outside the capital. Sreng Meng Srun

More people turning to Kingdom estate agents

The trend of buying and selling properties via registered real estate agencies saw a remarkable increase this year, with industry insiders expecting further demand next year.

Cambodian Valuer sand Estate Agents Association (CVEA) president Kim Heang said while the country’s real estate sector is growing, the trends of using services from agents have also increased.

“Today, many Cambodian buyers, sellers or leasors go to licensed agents to utilise their services,” he said, adding that getting advice from experts saved time and money.

“It is different from before when buyers or sellers traded on their own or via informal brokers.”

However, the association did not give any official data on the growth of the services.

“Our survey indicated that the use of services in the first half of the year could increase by 10-20 percent compared to the same period last year,” said Heang. He predicts that it will increase further next year.

Century 21 Dream Property CEO Keam Seaklong said that his company experienced a growth of 40 percent from last year. It was recently named the best US real estate firm in the Kingdom.

“Acceptance of services by agents or skilled companies can help clients to save time and get good value,” he said.

A report from the Ministry of Land Management, Urban Planning and Construction said last year, the government received $78 million in tax revenues from property transfers.

MOST VIEWED

  • Government set to slash holidays

    The private sector has welcomed the government’s move to reduce the number of public holidays in the in the Kingdom – known for having the most public holidays in the world – by seven days. However, the government had just added the “Day of Remembrance” on

  • Kith Theang being held in PJ prison

    Kith Theang, the brother of prominent businessman Kith Meng, was charged by Phnom Penh Municipal Court late on Monday and sent to the capital’s Police Judiciare (PJ) prison over the nearly 50kg of drugs found in a February 23 raid by authorities on the Rock

  • Farmers told not to plant next rice crop

    THE Ministry of Environment has told Cambodian rice farmers to refrain from planting crops in the midst of a drought heightened by record temperatures due to this year’s El Nino phenomenon. Temperatures are expected to peak in April and May. “Every year, [farmers usually]

  • Phay Siphan: Preah Sihanouk will become a second Singapore

    Government spokesman Phay Siphan said on Monday that Preah Sihanouk province will become a second Singapore, as authorities were warned that its development, fuelled largely by Chinese investment, was coming at a cost to locals. Siphan was speaking at a press conference after a seminar