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Logo of Phnom Penh Post newspaper Phnom Penh Post - Developers, agents focus on fundamentals

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Century 21 Cambodia chairman Kuy Vat. Photo Supplied

Developers, agents focus on fundamentals

With a slew of new high-rise apartments, condos and commercial buildings slated to come online in the next few years, agents and developers are getting back to basics when it comes to selling property stock.

Ann Channy, chief of sales for World City, told Post Property that the company’s luxury villa project “Secret Garden” was performing strongly when it came to sales.

“Secret Garden is a big project which is located in Camko City. Phase one includes 45 villas out of a total 134 luxury villas and we have already sold 50 percent of all villas in phase one this year.”

Channy said the company’s emphasis on prime location while simultaneously offering a high-end residence was appealing to buyers.

“We believe in our core values which are offered to all customers, including the luxury home of comfort in a good and secure location, high-quality construction and standard infrastructure,” he said.

“This project is in the right location because there will be more recreational centres and supermarkets like Aeon Mall 2 located nearby.”

According to Channy, the prices for the villas start at $570,000 but can cost upwards of $1 million depending on the size of the land chosen.

He added, “We depend on buyers’ satisfaction and our location is the best selling point. We are proud of what we have been doing.”

Kouy Lengkheang, public relations and marketing strategy manager for Camhomes, said its strategies to win over buyers revolve around location, attractive financing options and infrastructure development.

“Our project, D’Seaview, is scheduled to finish by the end of 2018,” he said.

“We see a lot of potential opportunities to invest in the area which is an economic zone and located near Sihanoukville International Airport.”

According to Lengkheang, one of the most crucial means to getting more buyers is to provide an affordable way of payment.

“We provide a progressive means of payment for buyers. The buyer will pay at different stages as the work progresses, instead of making one full payment on the completion. Our company also provides a freehold.”

Meanwhile, for Century 21 Cambodia chairman Kuy Vat, professional marketing services assist the company in the challenging and competitive business of real estate.

Vat acknowledged that real estate agents commonly encounter the peaks and troughs experienced in the market, and this year was marked by weaker demand when compared to 2015.

“Our new developments are luxury condominiums and apartments which are difficult to sell,” he said.

“We try to find more investors from different countries, yet the only way to push the sale is to somehow change [Cambodians’] preference of living in laded properties.”

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