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Dante

Business Rental Koh Kong

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Dante

I was in Koh Kong recently and looked at a few rental places,with a view to starting a small business. I'd rather not say what type of business....nothing illegal! The rents being asked for were incredible. Two  separate places near the market in DongTong, $1000 US per month!  In KOH KONG!!

 One owner would only lease for 1 year as he was more interested in selling. Out of curiosity I asked how much, he said $290,000US !

Yes its got about 3 upstairs rooms, and ground floor would've been ideal for the business in mind, but that price was ridiculous . 

I live in Perth Australia, for $290,000 US I could buy a nice 2/3 bedroomed apartment  near public transport , shopping etc etc. There are little or no services or entertainment in Koh Kong to justify those quoted prices. Coincidently both owners want to sell, and said they are going to Phnom Pehn...maybe they're telling the truth maybe not. 

I read a lot of Chinese have moved out of Sihanoukville and property values and rentals fell, does anybody know if the same is likely to happen in Koh Kong? There is a casino also in Koh Kong ,and a massive apartment complex currently under construction nearby up at the border area Chaem Yam. 

Would appreciate any helpful input .

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Chit
John_Galt

It seems every city that had a lot of online casinos rental prices fell.

But everywhere else is the same.

Except Phnom Penh according to a friend who sells condos some places have gone up in price. 
 

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Dante

 

 

It looks like I have really and truly missed the boat ! 

About 5  or 6 years ago I had considered KK  as a place I could retire to, quiet, near Thai border, and not too expensive and have a local friend there. I was in no great hurry. I thought to myself this place hasn't changed in decades and probably won't. The pace of life is relaxed. 

Never in my wildest dreams did I consider property / rental costs in KK to outstrip Perth ! No local can afford those prices, or me  now ,for that matter, not to mention the fact that there is no value for money. I thought I would do some swimming at the large swimming pool in the resort near the border. Ha! Went to resort with my swimming gear thinking to do a few laps hoping it wouldn't be too busy. They wanted $10US entry! That's about $15 Aussie . I would need to swim 3 or 4 times a week to get back to the level I wanted to be at....that'd cost a small fortune at that rate.

no way would I pay that. It's $4:70AUD at my local Olympic sized pool with all the 9 lanes roped off for different swimmer levels. Top class facility. Admittedly  I get an entry concession for my age, less when I buy multi entry card. 

AndyKK kindly informed my about the other option - cycling- which sounded like I'd be taking my life in my hands on the local roads. So ,as I'm not a bar person that leaves very few choices on how to stay active and pass the time ...assuming I could afford food!  The perfect storm, on top of everything else the Aussie dollar has dropped through the floor against the $US and THAI ฿. I have a comfortable but boring life here, unless I win lotto looks like I won't be going anywhere. Such is life. 

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John_Galt
On 11/30/2019 at 4:51 PM, Dante said:

It looks like I have really and truly missed the boat ! 

 

For anything cheap in KK it looks like it. 

 

I am sure you could find somewhere else it all depends on what kind of lifestyle you want. 
 

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andy
On 11/28/2019 at 5:48 PM, Dante said:

read a lot of Chinese have moved out of Sihanoukville and property values and rentals fell, does anybody know if the same is likely to happen in Koh Kong?

It's a pitty we had not meet. I had just been, not long ago in Koh Kong to sort out some of my power tools I had left in safe hands when I left a year back.

Their are a few westerners in business there who are certainly in the frame of mind, denial may just be a better suited word. The Chinese have big plans for the area. Yes the other side of the bridge seems to be were the newcomers are buying and working, but that is due to circumstances. Getting back to your intentions of the town area. One the Chinese have the two biggest hotels and restaurant on the riverside, and all the evening food sellers have been slotted into the areas where they can trade. The riverside is on the agenda I believe to be the boat port that will link the other 4 main areas of the Chinese tourists. The prices you quote also may have been a bargain price, due to half the main street street I here is due to be rented to the Chinese.  I say this because it happens that a few Khmer friends have been told over a year back their lease will not be renewed, the new tenants had paid up front that far back, also one of my Khmer friends tell me its over twice what he is paying, and it would not give him any profit. There are also many more development, ether done or on-going. But consider this there are 20,000 people live in and around the town, and the same amount of Chinese are going to be descending at some stage in the near future. But I only listen and read, I have seen developers build overnight and others have had areas cleared and still nothing built in five years.

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Dante
13 hours ago, andy said:

But consider this there are 20,000 people live in and around the town, and the same amount of Chinese are going to be descending at some stage in the near future.


Thats a complete takeover! The whole way of life will be changed by that impact, and the chinese money will likely circulate in mostly only Chinese hands. I had no idea that was coming, thanks for the info,the locals won't stand a chance never mind the Barang. Maybe I dodged a bullet after all. 

Its practically impossible for a normal person to start a business there now ,in view of what you've said. The Chinese could change / eliminate the customer base overnight by forcing the locals out of town through expensive rents/ costs. I feel very sorry for anyone about to be affected ( if not ruined ) by that. It looks like you read the situation correctly Andy and got out in time. 

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andy
3 hours ago, Dante said:

It looks like you read the situation correctly Andy and got out in time. 

That was not the situation at all Dante the new comers have not really arrived, like I said the Khmers I know have got their leases into the early months of next year, so in effect I could have been still earning now, but not with the delay in tax papers and new changers in the law that I got tripped up by. The big boys in business had got out before I did, so that may tell you something. The new prison and road went in extremely fast, so did other projects of the Chinese and joint Khmer, in fact I have a few friends that are employed by the Chinese on take home wages of $600 per month. Did you notice the land plots for sale all out of town? Only the Khmers are buying, in fact I have friends whom are selling as they will move to Thailand in their retirements. Many projects too on the way there, in the Cardamoms, new roads and lots of trees cleared.  

Edited by andy

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Dante
14 hours ago, andy said:

That was not the situation at all Dante the new comers have not really arrived, like I said the Khmers I know have got their leases into the early months of next year, so in effect I could have been still earning now, but not with the delay in tax papers and new changers in the law that I got tripped up by.

 

oh I see , but regardless of how it came to be, it looks like the writing is on the wall for a lot of businesses in KK.  Although barangs will still look for western type food and drinks and to associate with other westerners.It depends on the rental costs  not going through the roof and driving them out of business or owners resisting big money for selling up. A hell of a risk for a small business. Strange times everywhere in Cambodia . When it was happening in Sihanoukville  I could understand it , touristy, beach life , but bloody Koh Kong ?  Is the casino the big draw or what?  Or is this the future for the whole of Cambodia ? I can see the attraction for the Chinese government in getting full economic control of the country as a foot in the door. 

Well whitey, is now witnessing a form of modern colonisation rather than carrying it out themselves the old fashioned way. But cambodia does need investment ,not sure if they have much choice in the matter. 

"He who sups with the devil should have a long spoon"

 

Edited by Dante

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andy
18 hours ago, Dante said:

Strange times everywhere in Cambodia . When it was happening in Sihanoukville  I could understand it , touristy, beach life , but bloody Koh Kong ?  Is the casino the big draw or what?  Or is this the future for the whole of Cambodia ?

There we would see the start of the mass arrival into independent business of Sihanoukville, change was and is massive, and to both parties. Everything happened at such a fast pace, building on a large scale that has never been seen in this county before, and without proper infrastructure and regulations in place, a learning curve for officials involved. But as always the word is money, get rich quick is on peoples minds for sure, difficult to say no to a pot of gold in the offering.

But I would think it be more on the lines of the big goal, being that China has opened its arms to Cambodia giving them possibly the ability to progress the whole country, now with hefty government aid, investments and loans, and then the Chinese independent businesses that this country have not really seen at this type of scale before. 

I missed the writing on the wall when first the Hydro dams were constructed, and that was before I decided to sell up and move here.

19 hours ago, Dante said:

 Is the casino the big draw or what?

It is for Thai visitors, and I imagen too for Chinese now, if not later. But that is by the way, it is owned by a man, being one of the richest and most powerful in the country. Cambodian-born Thai businessman Ly Yung Phat.  Nicknamed “the King of Koh Kong” for his prominence in the province, he currently serves as a CPP Senator and advisor to Prime Minister Hun Sen. 

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