Kampot is expected to become the top-tier destination for developers and investors seeking investment in vacation home among four other major tourist hotspots in Cambodia while demand of second-home for vacation start rising in the Kingdom.
Chrek Soknim, president of Cambodian Valuers and Estate Agents (CVEA), told Z1 News last Saturday that vacation home investment is mostly to be built in these four provinces — Preah Sihanouk, Kampot, Mondolkiri and Pursat’s Veal Veng district. These locations are drawn by tranquil charm and natural scenery.
When it comes to describing array of recreation options, Preach Sihanouk and Kampot are located in the coastal area, whereas Mondolkir and Pursat’s Veal Veng district boast a spectacular scenic beauty. However, Soknim said Kampot is becoming the first-tier destination and set a new benchmark for such a leisure development in the country.
“Kampot has its special potential and vibrant because here visitors can enjoy the coastal, forest and mountain sceneries as well as other tourism sites,” he said, adding that its proximity to Phnom Penh and growing popularity with domestic tourists, as well as numerous infrastructure projects including the tourism port, the widening and improvement of National Road 3, which all of these boost more potential to the province.
“I think, the real estate here at Kampot will see a significant growing in the next five years, especially in vacation home and leisure investment,” he noted.
Forest Harmony Co.,Ltd, a leading local developer, is investing a large-scale in vacation home in Kampot province. Its project called Harmony Valley, which is the western architecture designing style of vacation home project, is surrounded by beautiful and tranquil forests and hills. The project is about 18 Kilometer away from Kampot town situated in Phary Village, Prey Thnong Commune, Toek Chhou District.
The first phase of Forest Harmony project, comprising of 78 villas spreading over 13 hectares of land, was launched in December 2019; with almost villa sold out up to now, according to In Sitha, Forests Harmony’s Director.
“Construction of the first phase is well underway and scheduled for the completion within 24 months. Local and foreign investors are coming to visit and seek the opportunity investment our project every week,” he told Z1 News on Saturday last week.
Last year, emigrate.co.uk, a well-known site has over 300 comprehensive guides on emigrating to different countries, recommended Cambodia for its low living costs, stunning scenery and fascinating history – ideal for expat retirees.
To attract tourist destinations for foreign retirees, the Ministry of Tourism said it is drafting a second-home policy. According to the ministry, the policy is aiming to creates a new tourism product that will make tourists regular visitors to the Kingdom by ensuring they have legal ownership rights to their second homes.
Local newspaper quoted Ho Vandy, secretary-general of the National Tourism Alliance, as saying that similar policies had been successful in Thailand, Malaysia, Singapore and Indonesia. The policy has drawn investor-tourists, families and retirees elsewhere.
“Most second homes in other countries are built near the sea and in quiet places because tourists visit to relax in a good environment,” he was quoted as saying.