If you’re looking to buy or rent a property in Chroy Changvar, take a look at our listings below.
Many people fresh into the market in Phnom Penh are all interested in a river view.
However, many have no realisation of what can be achieved by investing on the other side of the river. If anything, the view is way better as it incorporates the ever-changing and vibrant Phnom Penh Skyline, minus tourists for the most part.
Chroy Chagvar is racing forward rapidly, with residential apartments and condo buildings being completed in all district areas.
Previously part of Russey Keo up until 2013, the district consists of five communes:
National Highway 6A is the main road that runs straight through Chroy Changvar. This road opens up important commercial and travel routes to Kampong Thom, Kampong Cham, and, most importantly, Siem Reap.
Chroy Chagvar is both the district and the peninsular it covers.
The district connects to Phnom Penh by a central bridge and a smaller one further up National Highway 6A. The primary bridge being the Cambodia-Japan Friendship Bridge.
The original bridge has undergone a recent renovation in 2019 and a new twin bridge construction to alleviate traffic congestion in and out of the city.
Initially built in the 1960s, the bridge represented the upturn and prosperity of the district.
The Transformation from Marshland to Real Estate
At the beginning of the 2010s, Chroy Changvar, for the most part, was 75% marshland; now, the district is one of Phnom Penh’s real estate success stories.
In 2021 Chroy Changvar has been the fastest growing area of the city. New condominiums and hospitality-related businesses such as hotels, bars, restaurants and Western supermarkets are leading the charge. And with more big-name projects being approved and going live in 2022, we do not see this slowing down.
Incredible progress has been made for kilometres on both sides on National Highway 6A, with vast tracts of marshland transformed into new shopping malls, large restaurants, a plethora of commercial services from mobile phone shops to garage repairs, car showrooms and international supermarket chains:
Thousands of square meters of marshland are now stable and ready to be built on in Chroy Changvar.
Luckily traffic is nowhere near as heavy as Phnom Penh, especially if you are heading south from Cambodia-Japan Friendship Bridge into the heart of the peninsular.
Traffic can get congested on both sides of the Cambodia-Japan Friendship Bridge, especially at rush hour. Still, outside of these times, all the roads are manageable.
In the area, you will find lots of motos and tuk-tuk’s to get around and now PassApp and Grab offer transport services all over the city.
Also, reliable bus services are now available using Line 06.
Chroy Changvar has seen some of the city’s most significant development projects go live in recent years, and there is no sign of it slowing down.
Chroy Changvar Satellite City is the epitome of what is happening in this exciting district.
Overseas Cambodia Investment Corporation (OCIC) has invested over $1.6 billion into a 300-hectare complex project.
Included will be the following:
The Peninsular Private Residences are almost complete and will be yet another addition to the skyline and the growing reputation of Chroy Chagvar as a haven for investors.
With developers offering condos off-plan and with a Guaranteed Rental Return (GRR) set over a period of years and favourable and plentiful payments terms, this is an ideal time to be investing.
The district also comprises multiple Borey projects; here are a few worth noting:
Extremely popular with middle-income Cambodians, the Borey projects are an investors stalwart for their portfolios. Boreys saw incredible capital growth rates in the 2010s, and once travel restrictions are lifted, we see this trend continuing.
Boreys also offer more flexibility in what you purchase than a condominium, with residential homes, shophouses, villas and other commercial options in each development.
We have seen much attention on areas such as Meanchey, Tuol Kork and Sen Sok. Still, we feel Chroy Changvar fits the same mould and comes with better strategic benefits than the other areas.
There is lots of undeveloped land and more being converted from marshland. The district also has excellent access to the city centre, which is only 10 minutes away.
Residential land in the district ranges from as little as $45 up to $1400 per m2.
Commercial land starts around $500 to $2500 per m2. Chroy Changvar Commune is the top end of the market, where we have seen as much as $3000 per m2 on the main roads.
Off the main roads, we have seen land as low as $800 per m2.
Koh Dach and Koh Oknha Tei (Silk Island)
An increasing number of people are travelling out to these two picturesque islands.
Here, the land is cheaper than anywhere else in Chroy Changvar. You still need to take an 8-minute boat from National Highway 6A across to Koh Dach; a small bridge connects the island themselves.
However, there are plans to link the islands with a bridge to the mainland. As you can imagine, the value of the land on the islands will increase rapidly when this happens.
Much land is available on these islands sitting in the middle of the Mekong. When you are only 30-minutes from downtown in a capital city, that’s very attractive given you live on an island.
Tourists can buy a range of handmade silk products, wood carvings, pottery, and many other goods and handicrafts.
With a substantial real estate market selection, this is an excellent area for investors or tenants. The district is fast becoming a significant commercial and residential hub of the city.
Easily accessible in and out of Phnom Penh, with its islands just a few kilometres up National Road 6A, the area is flourishing.
The area is also home to the Koh Pich Playground, a fairground for children. New malls and shopping outlets, other entertainment venues and a fabulous new street food scene; it’s hard to say anything negative about the area.
Riverside is Riverside on the Chroy Changvar side. Very few tourist touts venture this way. Some of the city’s finest fresh seafood restaurants reside looking over at Daun Penh and the heavy tourism that engulfs it.
Here the river views are better and cheaper than its opposite counterpart, and investors have much more scope to consider what they are looking for here.
Chroy Changvar is not slowing down, and neither are we at Lux. We are constantly looking for new real estate options for our clients here.
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