Phnom Penh is the capital and the business hub of Cambodia, attracting many foreigners who want to invest in this emerging market. With an annual economic growth of 7%, a young workforce and pro-foreign policy, it’s not strange why both locals and foreigners have decided to open up property agencies here.
But it’s not always easy to find an agency that suits your needs and that cater you in the best way. Therefore, I’ve written this article where I list some of the biggest agencies in Phnom Penh and tell you more about their founders, services and more. Let’s have a look.
David Murphy established IPS in 2009 and it’s currently one of the biggest and most reputable agencies in Phnom Penh. During his career, he’s owned a hotel for several years, managed to become a licensed Valuer in Cambodia and prior to that worked with infrastructure development projects.
David has managed to create a team that consists of both local nationals and foreigners that speak a number of languages.
IPS has a number of different properties up for listing, they sell both commercial and residential real estate, for example:
- Sales and leasing (commercial and residential)
- Property Management
- Due diligence, Search & Ownership Transfers
#182, St.63, BKK1, Phnom Penh
2. Daily Realty Group
Daily Realty Group was established in 2012 by four local Cambodian nationals and currently has three boards of directors:
- Hay Ravy (Sales Manager)
- Din Ngoun (Valuation Manager)
- Ros (Ly) Soben (Managing Director)
The company is a member of CVEA, one of the fastest growing agencies in Cambodia and currently has a team of 9 professionals.
Include both commercial and residential property, for example condos, apartments, factories, retail property, townhouses and much more.
The company offers a number of services, the main services are listed below:
- Property management
#88-90C, Street 360, Sangkat Boeung Keng Kang 3, Khan Chamkamorn, Phnom Penh City, Kingdom of Cambodia
3. CBRE Cambodia
CBRE employs over 80,000 people globally and is one of the largest real estate agencies in the world, both in terms of number of employees and revenues. They’ve had a presence in Cambodia for more than a decade and offer a number of real estate services.
CBRE serves a number of big clients, in the banking and aviation industry just to mention a few, and has won numerous awards over the years. One of the most prestigious is the Asia Pacific Property Awards, where CBRE was voted as the Property Consultancy of the year in Cambodia (2017-2018).
You can find both commercial and residential properties up for listing at CBRE, some property types include: condos, land, industrial properties, business, hotels and more.
- Sales and leasing
- Consultancy services
9th Floor, Phnom Penh Tower, No. 445, Monivong Blvd, corner of St. 232, Sangkat Boeung Prolit, Khan 7 Makara, 12258 Phnom Penh
4. Century 21
Century 21 has a large network of franchised real estate agencies internationally. It has thousands of offices overseas and tens of thousands of professionals working in different countries. They currently have 10 branches located in Phnom Penh.
The CEO of Century 21 Cambodia is Kuy Vat who has a long experience in the real estate industry. He’s also holding high positions within a number of local groups, for example:
a. Chairman of the Cambodian Investors Club
b. Vice Chairman of the Cambodian Valuers and Estate Agents Association
c. Vice President of the Cambodia Chamber of Commerce
Century 21 is involved in transactions of both commercial and residential real estate, for example family houses, condos, penthouses, land, retail properties and more.
- Sales and leasing
- Investment, research
- Real estate development
Mao Tse Toung Boulevard (245), Phnom Penh, Cambodia
5. Khmer Real Estate
Dr. Kim Heang founded Khmer Real Estate in 2007, over 20 professionals work for the company and it’s become one of the largest real estate agencies in Phnom Penh. Kim has understood the importance of hiring foreigners, to assist in catering expats and foreign buyers.
The company has staff that speaks both German, Chinese, English, Vietnamese, French and more. Worth mentioning is that Kim has been interviewed in the Phnom Penh Post and other newspapers in Cambodia.
You’ll be able to buy both residential properties and commercial properties, including condos, apartments, factories, offices, hotels, land, villas and more.
- Sales and leasing
- Property transfers services
#736, Street 128 (Kampuchea Krom Blvd), Phnom Penh Capital, Cambodia
6. Town City Real Estate
Town City is a quickly growing company with over 25 professionals. It was founded by Van Chanthorn in 2013 and mainly employs local Cambodians. John has a long experience in real estate and has also earned an MBA. Worth mentioning is that the company is a fully licensed agency and a member of the Valuers and Estate Agents Association (CVEA).
The company deals with both residential and commercial real estate and you’ll be able to find everything from condos, villas, businesses and hotels on their website.
- Sales and leasing
No. 394 -396 (Home City Building), Monivong Blvd, BKK1, Chamkarmon, Phnom Penh
7. Angkor Real Estate
Angkor Real Estate was founded by Ros Hay, the company has helped mainly foreign clients for a couple of decades back. It’s currently one of the biggest real estate agencies
Ros has contributed to articles in newspapers like Phnom Post several times. The company helps foreigners to buy properties in the following cities: Sihanoukville, Phnom Penh, Battambang, Siem Reap, Kampong Cham and Kampot.
You’ll be able to buy both residential and commercial properties, some property types include:
- Villas and houses
- Office space
- Retail properties
The company offers a number of services, for example:
- Property management
- Title search/li>
#21, Street 388, Sangkat Toul Svay Prey 1, Khan Chamkarmorn, Phnom Penh, Cambodia
How high are the agent commissions in Phnom Penh?
The rate is usually between 2-3%, depending on the property value. The seller generally pays the agent after the property has been sold.
Where should I buy a condo in Phnom Penh?
Phnom Penh is not as big as Saigon or Bangkok for example, but you still have a number of interesting areas. Two of the most interesting areas, if you plan to buy a condo, are Doun Penh and Chamkarmon.
Doun Penh is one of the most famous areas in Phnom Penh, this is where most commercial activity is done, you’ll find a number of famous buildings and areas, such as:
- The Royal Palace
- Raffles Hotel
- The Central Market (you know the big white/golden iconic building)
The area has many condo buildings and is a popular spot for foreign buyers.
If you compare to Doun Penh which is in the Central district, Chamkarmon is fairly more relaxed and located in the Southern parts.
The area has less tourists but is still popular among expats and condo buyers who wish to own property in Phnom Penh.
You can find some iconic landmarks like the Russian market and the Phnom Penh in this area.
How much do I need to pay for a condo in Phnom Penh?
Prices differ much depending on areas and the standard and size you need. You can find a 1-2 bedroom in Doun Penh for around USD 200,000, while the price is around half in Chamkarmon.
Should I hire a Solicitor in Phnom Penh?
My direct answer to this is: Yes.
Buying property in an emerging and developing country like Cambodia is still risky, land grabbing is not rarely heard of and things are not as transparent as in Singapore or Kuala Lumpur, for example.
A local Solicitor should have a proven track record and helped foreigners buying property before. Be sure to prepare questions and do due diligence.
The Solicitor can help you with a number of services, for example:
a. Check the title
b. Communicate with the seller
c. Confirm that the seller is the owner
d. Help in communications with local banks
e. Draft contracts
f. Registering the property in your name at the Land Registry