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Phnom Penh is the largest and the wealthiest and the capital of Cambodia. Surrounded by the river the city never dries out of freshwater and other natural resources. Although, the town enjoys a tropical climate, during monsoon, at times the city is flooded with rain as the river banks overflow and create havoc for the citizens.
The largest population of Phnom Penh is the native Cambodians. The city does have other minority population groups of Chinese, Vietnamese and smaller cultural groups. Phnom Penh with its vibrant cultural tourist attractions, natural resources, and foreign investment has dominated the tourism industry within Cambodia.
Properties of all types are in high demand at Phnom Penh. With many foreign investors entering the market, demand and supply are very much increasing.
Phnom Penh condominium market is a massive supplier of high-end luxury condos. A recent study has projected the need for mid-range condos targeting the local Khmer population. Residents that have been renting are now starting to enter the property market and a condo would be an ideal start onto the proper ladder. The construction industry is doing its best to attract both the locals and the expats to the property market.
Classified into three groups, condos appeal to all types of buyers.
Affordable Condos: Budget based condos are for the Phnom Penh residents, who wish to own a property on a meager salary. These condos consist of 1 or 2 bedrooms and are ideal for a small family of two or three members. With a room measuring 30 to 50 sq meters, the budget condos would cost $1600 per square meter. These condos are also suitable for short term stay.
Mid-End Condos: This type of condo is available with 3 to 4-bedrooms. These condos target the middle-class population. Mid-End condos would cost around $2500 per square meter.
High-end Condos: Otherwise known as luxury condos come packed with varied amenities. It may consist of 7 to 8 rooms, situated at the top floor of a building. The facilities provided are of a five-star hotel and would cost $3,300 and more per sq meters.
Doun Penh: Is the second largest and the major district of Phnom Penh. It is the commercial hub and home for many industrial Businesses such as the Sorya shopping center and Mokod Pich Jewelry Enterprise and they are the largest Jewelry Company in Cambodia. The district is further divided into small regions, which makes it popular with expats and an ideal place to stay.
Dango: Is the largest district of Phnom Penh and is very attractive to expats to move into this area, with its large-scale industries, affordable condos, and unlimited work opportunities to make a good living.
Sen Sok: Is the administrative district of Phnom Penh and contains all the big hospitals and universities. With so many educational facilities available within this district, it has made it very popular for investors and expats.
Tuol Kouk: The district is very popular and Tuol Kouk offers a mixed bag of property types for sale, with mid-range to luxury condos and high-end condos and villas. Various NGO offices, Universities, and governmental offices are located here and the district is also quite close to the airport.
Phnom Penh promises a good leisure and quality lifestyle for its residents. Although transportation is well structured and maintained, many prefer to use bikes for the convenience it provides over the other modes of transportation.
Phnom Penh City believes that all residents should lead a healthy lifestyle, and it allows a two-hour lunch break from work for rest and helps to make the city the most sought after for employment by expats. Many prefer to take a short nap in hammocks before they head back to work. You can find a relaxing spa or a massage for only $10 to relax after a hectic day at work. The Government believes in providing the employee's plenty of time to be with their families and to live life to the fullest as the government offers 18 Public holidays a year.
The City experiences two types of weather seasons throughout the year, dry season from October to late April and the monsoon or rainy season is from May to late September. The hottest months of the year are usually from March to June with temperatures of over 35°C and Humidity is at its worst in March and April.
Expats can go on a casual stroll along the river banks, go on a relaxing boat ride or simply watch the sunset.
GDP Growth: Phnom Penh projects a double-digit GDP growth and promises a bright future for investors.
Favorable Investment laws: The government is gathering input from the private sector and development partners to amend the country’s Investment Law and make the country a more attractive destination for foreign investment.
Large Foreign investors: Political ties up with China helped the country progress at a rapid pace. The agriculture, infrastructural, manufacturing units’ developments created the need for modern amenities-built houses. The condominiums are in huge demand due to the foreign expats immigrating for work to the city.
The cost of living is extremely cheap in comparison to Western countries.
Garment-making and tourism are the main economic sectors in Cambodia, but skilled professionals are also highly sought after.
Cambodia has lots of private language schools which are constantly looking for new staff. Bear in mind that these jobs are usually poorly paid, but should provide you with enough to get by and enjoy your life while living in Cambodia.
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