P ublic Housing Development (Cambodia) Ltd is preparing to shake up the Cambodian real estate market with CAMHOMES by introducing an innovative queue system that could revolutionize home buying in the Kingdom.
With only a few weeks to go until the company’s Phnom Penh sales office opens for business, the company has given potential applicants a first look at the queueing process that Camhomes believes will help more Cambodians achieve their dream of home ownership.
Camhomes’ launch will mark the first time that the queue concept, which was inspired by Singapore’s phenomenally successful public housing system, has been used in Cambodia.
Under the ground-breaking system, applicants will be asked to complete a simple four-step process:
Step 1: Join the Queue
Camhomes will invite prospective applicants to visit their soon-to-be-unveiled sales office in Phnom Penh. There, they will be given a queue number and an application form, which they will fill out and return to the sales office within a given time period. This will put them in line to be one of the first to own a Camhomes property.
Step 2: The Approval Process
Camhomes will carry out interviews and provide advice to help recommend the best type of property to suit each applicant according to their needs and budget, before submitting the application to the banks for housing loan eligibility.
Step 3: Interview and Consolidation
Camhomes will invite successful applicants back to the sales office on a ‘first-come, first-served’ basis based on their queue number and allow them to choose between the many different housing solutions on offer at developments in Sihanoukville, Phnom Penh and other major Cambodian cities.
Step 4: Moving In
With the process completed, applicants can relax in the knowledge that they have secured a Camhomes property. They will be able to watch with anticipation as their new home takes shape, until the exciting day when the development is completed and they can finally realize their dream of home ownership.
Similar systems have been in place in Singapore since the 1960s, and have proven remarkably popular with buyers and developers alike.
“The [Singapore] system...is the most appropriate system for the moment, balancing the need for fairness, prudence, and efficiency [while]...supplying enough flats, of good quality and at affordable prices, as quickly as possible to home buyers,” Mah Bow Tan, former Singaporean Minister for National Development, wrote in an editorial on housing supply in Singapore.
Excitement is already building over the prospect of purchasing a house using the new system.
“I think it’s a really fair way to allocate the properties. This will help encourage more people to buy their own home,” said Sim Sophea, 23, who recently married and is looking for a home for her new family.
The company believes the queue system will give everyone in Cambodia the chance to realise their dream of home ownership with an affordable Camhomes property.