Property investors of Singapore are turning to residential market of Cambodian, media reports noted.
Last March, the first phase of new project La Vie Residences was launched in Phnom Penh by Singapore-based developer.
About 60% of the 180-unit of La Vie Residences has been sold to property buyers mainly from Cambodia, Singapore and Taiwan.
Construction works will commence in October for the for phase one of 17 storey development and expected to be completed in first quarter of 2018.
Investors of Singapore property have also pick up units at mixed-use development The Skyline @ Cambodia, located in central business district of Phnom Penh.
According to marketing agent Anthill Realtors, Since the preview last March, the 792 residential units of The Skyline by SGPD Corporation has moved 70 percent.
Majority of buyers were from Cambodia and Taiwan, while 20 percent were Singaporeans.
Entry-level investors who bought units were drawn to the six percent rental yield guarantee of the developer.
The Skyline’s offer to fork out half of the price before completion also drawn to the buyers of Cambodian projects.
