Ahead of the launch of next week’s new guide to the city’s top properties, the Post presents a brief insight into some of the capital’s up and coming districts
Tonle Bassac district is conveniently situated, with the arterial boulevards of Sihanouk and Norodom allowing for quick access to Phnom Penh’s commercial and entertainment district. A focal feature of the suburb is the number of gated communities, including Bassac Garden City, Les Jardins Du Bassac and Borey Chamkarmorn. Villas in these secure communities range from US$2000 to $3,500 per month, while apartments can be found for $1,000 to $2,000.
The area has a number of popular serviced apartment complexes such as Green Mansions II, Skyline and the high-end dK Sanctuary, where 2 and 3 bed apartments can be leased monthly for around $2,000 and $3,000 respectively.
Tonle Bassac has become very popular with expatriate families, due to the number of attractive villas with gardens, however, while demand is now shadowing supply, villas can be acquired from $1,500 to $3,500 per month.
Psar Douem Thkov
Psar Douem Thkov is located south of Toul Tom Poung and is bound by St 271 and the southern portion of Monivong Boulevard. By central Phnom Penh standards, villas here are large, usually with a garden, and more affordable than their BKK1 cousins making this area attractive to families that want to avoid the high rents of central Phnom Penh.
Due to the large amount of Villas, Psar Douem Thkov is fast becoming a budget option for commercial and NGO office space. Villas converted to offices are significantly cheaper per square metre than centrally located options, with the standard price between $5 and $6 per square metre.
The area is well serviced with easy access to Sovanna shopping centre and the new Boeung Trabek Plaza. With travel time to central Phnom Penh an easy 10 minutes by tuk-tuk, Psar Doeum Thkov is quickly emerging as a quality living option that won’t stretch the budget.
Wat Phnom is located to the north of Phnom Penh’s centre and has good road connections to most of Phnom Penh, with easy access to the central city via Norodom and Monivong Boulevards and also to outlying areas of Chroy Changvar and Toul Kork.
Accommodation options are currently limited in Wat Phnom. Serviced apartments are scarce and are limited to Palm Palace and the well-established Garden Mansion. Two bedroom apartments in these complexes range from $1,100 to $1,400 per month.
Villas in the area are numerous, however many have been built and maintained with the Cambodian resident in mind. Wat Phnom has an enviable amount of French Colonial architecture that will benefit from significant renovation and investment. Villas within the area currently range from $1,200 to $2,500 per month.
Wat Phnom is an emerging area which should be considered by any property investor.
Chruoy Chongvar, located over the Japanese Bridge to the north east of Phnom Penh central is a residential and industrial district occupying the sliver of land between the Tonle Sap and Mekong rivers.
Access is an ongoing issue for Chruoy Chongvar residents. Currently the Japanese Bridge is the only form of direct road access to the area. Travel time by car to Phnom Penh central during peak hours is approximately 20 minutes.
Rental rates in Chruoy Chongva are well below mainland rates. It’s even possible to rent a 3 bedroom Villa with pool on a huge block with manicured gardens for under $2,000 per month.
An equivalent property in Central Phnom Penh would be in excess of $3,000 a month or higher to rent and without the river views. Chroy Chongva is well worth a look.
If you require further information on property in Phnom Penh, Director of Independent Property Services David Murphy can be reached at 077959861 or [email protected]. Alternatively, visit the website at www.independentpropertyservices.com