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Cambodia joins Asia’s resort property market

By on Dec 23, 2009 in Resorts

Song Saa Island Resort, Cambodia’s first exclusive private island development was successfully launched through CB Richard Ellis last week at the Catch Beach Club in Phuket. Over 60% of the units were booked a week running up to and during the launch event.

The resort, due to start construction next month comprises 14 one and two-bedroom villas with a starting price of USD 200,000 and a 10% guaranteed yield for 3 years. Song Saa Islands (Koh Ouen and Koh Bong) are located in the Koh Rong archipelago, Cambodia’s largest private island. The islands are accessible via a 30-minute boat ride from the Cambodia resort town of Sihanoukville, where an airport is now complete with domestic and regional flights expected to begin next year.

The success of Song Saa Island Resort marks the beginning of the international development of the Cambodian coastline and is the first project to target foreign buyers.

Song Saa has clearly demonstrated that there is a global interest for a quality product with professional management in this emerging location. The project has by far, exceeded sales performance of other Phuket and Samui properties.

The project offers a 99-year leasehold tenure, the best available ownership structure for foreigners compared to other resort markets in the region.

  • Will the Cambodian coastline be the next Phuket?
  • Is a 99-year leasehold structure in Cambodia preferable to a series of 30-year renewable leases in Thailand?
  • Should Thailand extend its lease term to attract inbound foreign investments in a bid to compete with its emerging neighbour?

These are all questions that Thailand may have to answer going forward – what is your opinion?

Comment

david

please send me more information on the cambodia Song Saa








 

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