Time Square Ocean View Review: Megakim $40k Entry Condo
Time Square Ocean View by Megakim: the cheapest foreign-eligible Phnom Penh condo near $40,000, payment plan, BKK3 location, yield reality and risks.
By Invest Cambodia Editorial · Updated June 28, 2026 · 12 min read
Quick answer: Time Square Ocean View is Megakim World Corp’s cheapest foreign-eligible condo in Phnom Penh, with units from about $40,000 on a 20% down, roughly 40-month payment plan, built by Grade-A contractor Haspo Group in the BKK3 cluster. Its case rests entirely on the lowest absolute ticket, not on premium quality or deep resale demand. Verify the foreign quota, the contractor, the construction stage and a realistic net yield before you transfer a deposit.
Invest Cambodia Editorial reviews individual projects so foreign buyers can judge price, developer and risk before any money moves. This is an independent review of Time Square Ocean View: what it costs, who builds it, how the payment plan and BKK3 location stack up, and the diligence a sub-$50,000 off-plan purchase still demands.
For wider context read cambodia-property-investment-guide-2026, can-foreigners-buy-property-cambodia, off-plan-property-cambodia-guide, and phnom-penh-rental-yield-guide. The 2026 backdrop is roughly 76,000 to 80,000 Phnom Penh condo units, 3% to 4% annual absorption, an 8.9% banking NPL ratio, and foreign buyer share led by Poland, Russia and France per realestate.com.kh.
What is Time Square Ocean View and who builds it?
Time Square Ocean View is an affordable high-rise condominium in the Time Square series developed by Megakim World Corp, a Phnom Penh developer focused on the entry tier of the foreign-buyer market. It is built with Grade-A contractor Haspo Group and competes on the lowest absolute ticket size in the city, not on premium positioning.
Start with the name, because it is the first thing to read honestly. Phnom Penh is an inland river city on the Tonle Sap and Mekong, not a coastal one, so “Ocean View” is a brand flourish rather than a literal description. That is not a defect, but it sets the tone for a buyer: judge this tower on its price, its build and its rental demand, not on its marketing. Megakim runs the Time Square label across several buildings, including Time Square 11 and Time Square 306, which gives the developer a recognisable affordable line and a track record you can actually walk through. The developer profile, contractor record and series overview sit in megakim-world-corp, and the district context is in bkk3-phnom-penh. The single most useful habit here is to treat the brand and the specific tower as two different things: a strong series does not guarantee one building, and the unit you buy is delivered by a contractor on a site, not by a logo.
How does foreign ownership work at Time Square Ocean View?
Foreigners can own a Time Square Ocean View unit on the standard Cambodia basis: strata co-ownership above the ground floor, within the 70% foreign quota per building. Cambodian land and ground-floor commercial space remain off-limits, so the legal path is the strata title, not freehold land.
The quota is where an entry-tier tower needs the most care. A low ticket attracts a wide pool of overseas buyers, which means the 70% foreign allocation can fill faster in a popular Time Square building than in expensive stock. A near-full quota matters twice: it limits what is available to you now, and it narrows your future resale pool, because once the foreign ceiling is reached the onward market skews toward Cambodian buyers. Ask for the building’s official foreign quota ledger in writing rather than accepting a verbal “almost sold out” claim, which is a routine pressure tactic. The full ownership framework is in can-foreigners-buy-property-cambodia, and the strata-title mechanics in foreign-ownership-strata-title-cambodia.
What does Time Square Ocean View cost, including the real total?
Time Square Ocean View is genuinely entry-tier, with units marketed from about $40,000, at or below the $1,800 per sqm Phnom Penh average. That places it among the cheapest foreign-eligible condos in the city and far below OCIC’s premium entry near $106,000. The headline buys a small unit, so the per-square-metre and total acquisition costs matter more than the sticker.
| Cost line | Indicative range | Buyer action |
|---|---|---|
| Unit price (entry) | From about $40,000 | Confirm exact stack, floor and net sqm |
| Legal review | $800 to $2,500 | Use an independent Cambodia lawyer |
| Transfer and stamp duty | Lower through 31 Dec 2026 | Model under the incentive window |
| Furnishing | $5,000 to $15,000 | Budget for rental readiness |
| Management fee | $40 to $80 per month | Confirm the sinking fund |
| Vacancy allowance | 1 to 2 months per year | Stress-test net yield |
On a $40,000 unit the soft costs are proportionally heavier than on a premium purchase. Legal review, furnishing and transfer can add a meaningful percentage to the all-in figure, so the buyer who quotes only the headline overstates the return. Build the cambodia-property-taxes-fees-2026 numbers into the model, and use the stamp duty incentive that runs through 31 December 2026 to lower the 2026 transfer cost. The point is not that Time Square Ocean View is expensive, it is not, but that the lowest ticket in the city still carries fixed costs that a careful buyer prices in before the deposit.
How does the Megakim payment plan work here?
Megakim commonly markets Time Square Ocean View on 20% down with the balance spread over roughly 40 months of instalments. The decisive question is not the length of the plan but what the payments are tied to: instalments linked to verified construction milestones protect the buyer, while payments due on calendar dates regardless of progress shift delivery risk onto you.
| Plan element | Typical structure | What to verify |
|---|---|---|
| Down payment | About 20% | Refund terms if the project stalls |
| Instalment term | Roughly 40 months | Milestone-linked or calendar-based |
| Trigger for payments | Construction stage | Written, evidenced progress |
| Protection | Escrow where available | Named in the sales contract |
| Handover balance | On completion | Conditions for title transfer |
A payment plan is a risk-sharing instrument, and on a sub-$50,000 off-plan unit reading it carefully matters more than almost anything else. The 20% down, 40-month structure is normal and is exactly what brings foreign ownership within reach of buyers who cannot pay cash. The exposure appears when the schedule is decoupled from the build: paying instalment 18 of 40 on a stalled tower leaves your capital stranded in a thin resale market. Ask for milestone-linked releases and escrow, treat any pressure to deposit before you have read the contract as a red flag, and study the off-plan protections in off-plan-property-cambodia-guide.
What is the BKK3 location like for tenants?
Time Square Ocean View sits in the BKK3 cluster, a dense, central residential and commercial district where Megakim concentrates much of its supply. BKK3 carries real expat and local-professional tenant demand, but it is also where entry-tier inventory competes hardest, so location works for you and against you at the same time.
BKK3 is walkable, close to BKK1’s offices and embassies, and well served by cafes, schools and services, which is why it draws younger professional tenants and value-conscious expats. That demand is genuine, and it is the main reason an entry unit here can let at all. The counterweight is concentration: several affordable towers chasing the same price-sensitive tenant pool caps rent growth and lengthens void periods when supply spikes. For a side-by-side on where the district sits against the premium core, read bkk1-vs-bkk3-investment and the area deep-dive in bkk3-phnom-penh. The practical takeaway is that an Ocean View unit is a BKK3 rental play first and a brand play a distant second.
What rental yield can Time Square Ocean View realistically deliver?
A low entry price can support a stronger gross yield on paper than premium stock, but any 12% to 15% gross yield claim should be treated as marketing only with no guarantees. Underwrite net yield after vacancy, management and maintenance using realistic BKK3 rent comps, and expect entry-tier tenant demand to be price-sensitive.
The arithmetic favours cheap stock on paper: a lower purchase price against achievable rent produces a higher gross percentage. The catch is on the cost and demand side. Entry towers compete for value-conscious tenants, vacancy can run higher, and management plus sinking-fund costs eat a larger share of a small rent. Model with occupancy near 85%, verified fees and one to two months of annual vacancy, then discount the brochure figure heavily. Foreign tenant demand still concentrates in BKK1, BKK3 and Tonle Bassac near schools and offices, so the realistic income is set by location and management discipline, not by the headline yield, as phnom-penh-rental-yield-guide sets out.
Advantages and disadvantages of Time Square Ocean View
Its advantages are the lowest absolute entry price in the foreign-eligible market, payment-plan accessibility, a recognisable affordable brand and a central BKK3 address; its disadvantages are entry-tier completion and liquidity risk, presale-financing exposure, price-sensitive tenant demand and cluster supply that caps rent growth.
| Advantages | Disadvantages |
|---|---|
| Entry from about $40,000, lowest ticket tier | Entry-tier completion risk on off-plan |
| 20% down, roughly 40-month payment plan | Presale-reliant financing under 8.9% NPL |
| Grade-A contractor Haspo Group | Thinner, price-led resale liquidity |
| Central BKK3 rental location | Cluster supply caps BKK3 rent growth |
| Potentially higher gross yield than premium | Yield claims of 12% to 15% are marketing only |
| Brings foreign ownership within reach | 70% quota can fill fast in popular towers |
These are two sides of one affordability coin. The low price that opens the door also concentrates the market’s completion, financing and liquidity risks, and the payment plan that improves access also exposes a buyer who does not tie instalments to construction. A disciplined entry buyer accepts these knowingly and manages them with contract terms, rather than assuming a cheap price removes them.
Risks, red flags and what to verify
The main risks at Time Square Ocean View are off-plan non-completion, calendar-based payment plans that ignore construction progress, unevidenced yield and quota marketing, presale-financing fragility, and treating the Time Square brand as proof for this specific tower. Run the checklist and stop if several flags appear together.
- Calendar-based instalments: Insist on milestone-linked payments and escrow, because a plan tied only to dates makes you carry delivery risk.
- Presale dependence: A tower funded entirely by continuous sales is fragile under the 8.9% banking NPL ratio, so confirm the financing model in writing.
- Unevidenced marketing: Treat any 12% to 15% gross yield or near-full quota scarcity claim without documents as marketing only.
- Brand assumption: Verify this tower’s licence, title and Haspo contractor on the project papers, because a shared brand does not certify one building.
- Deposit pressure: Demands to pay before independent checks exist to block verification; a credible developer expects you to take your time.
Insider tip: Before you sign for an off-plan Ocean View unit, ask to inspect the oldest completed Time Square tower, not the newest showroom, and look at how its lifts, corridors and common areas have aged and how they are maintained today. A developer’s worst-kept finished building is a more honest preview of your unit than its glossiest sales gallery.
Which buyers does Time Square Ocean View suit?
Time Square Ocean View fits buyers prioritising the lowest entry price, payment-plan access and gross-yield potential who accept entry-tier completion and liquidity risk. It is the wrong fit for buyers prioritising capital quality, brand-led resale demand or a short, certain hold, who are better served by premium stock.
| Profile | Goal | Fit | Starting point |
|---|---|---|---|
| Entry investor under $50k | Lowest ticket | Strong | under-50000-condo-phnom-penh |
| Payment-plan buyer | Spread cost over time | Strong | off-plan-property-cambodia-guide |
| Yield hunter | Higher gross yield | Moderate | phnom-penh-rental-yield-guide |
| Capital-quality buyer | Brand resilience | Weak, prefer OCIC | megakim-vs-ocic-entry-price |
| Step-up buyer | More space near same tier | Consider | square-castle |
Scenario A: A buyer with $45,000 takes an Ocean View unit on 20% down and a 40-month plan, ties instalments to construction milestones, confirms the foreign quota in writing, and accepts entry-tier liquidity risk for the low ticket.
Scenario B: A yield-focused buyer models the unit on realistic BKK3 rent comps at 85% occupancy, discounts the brochure yield heavily, and only proceeds if the net figure survives vacancy and management costs.
Scenario C: A buyer who needs a certain, short exit recognises this is the wrong tool, because entry-tier resale is thin, and shifts toward completed stock or compares the step-up option in time-square-11-bkk3.
How to run due diligence before you deposit
Verify the licence and land title with a Cambodia lawyer, confirm the remaining foreign quota in writing, check the Haspo contractor on the project documents, inspect a completed Time Square tower, model net yield with realistic comps, and tie any off-plan instalments to verified construction milestones with escrow where available.
Entry-tier diligence is not lighter diligence; a smaller ticket still buys a real off-plan risk. Because Time Square Ocean View leans on payment plans and presales, the contract and financing model deserve as much scrutiny as the unit. Apply the developer red-flag screen in developer-due-diligence-red-flags-cambodia, follow the transfer-day steps in due-diligence-process-cambodia-step-by-step, and keep the wider strategy in cambodia-property-investment-guide-2026 in view so a low price does not crowd out the bigger picture. Confirm the foreign quota ledger, get milestone-linked instalments and escrow in the contract, inspect an older completed Time Square building, and model the net yield with verified BKK3 comps before any deposit changes hands.
MORE Group escrow and payment terms: Time Square Ocean View Review
Time Square Ocean View Review SPA terms in 2026 typically require 20 down with 40 months monthly after deposit escrow is Rare Time Square Ocean View under Megakim typically requires 20 down on a 40 months monthly after deposit schedule with escrow listed as Rare
| Project | Developer | Deposit | Schedule | Escrow practice | Verify before wire |
|---|---|---|---|---|---|
| Time Square Ocean View | Megakim | 20% down | 40 months, monthly after deposit | Rare | Lowest entry $40k: confirm sqm on list |
Our escrow red flag checklist for Time Square Ocean View Review starts with whether instalments are calendar based or tied to construction milestones Time Square Ocean View under Megakim typically asks 20 down with 40 months monthly after deposit while escrow is recorded as Rare In Cambodia’s 8 9 NPL environment we treat missing escrow language as a case study risk buyers who wired 20 down on a 40 month Megakim calendar plan without milestone exhibits bore delivery risk in prior cycles Request Lowest entry 40k confirm sqm on list in writing and compare against OCIC 30 milestone templates before any second payment Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
MORE Group rent comps: BKK3 entry cluster
realistic rent underwriting for Time Square Ocean View Review uses BKK3 entry cluster comps not island or CBD premiums unless the unit delivers that location Time Square 11 completed at 480 month on 42 sqm implies about 7 1 gross before vacancy in our Q2 2026 archive
| Building / source | Unit | Size | Monthly rent | Indicative gross | Note |
|---|---|---|---|---|---|
| Time Square 11 (completed) | 1BR furnished | 42 sqm | $480 | 7.1% | Young expat segment |
| Time Square 306 (completed) | 1BR semi-furnished | 44 sqm | $520 | 7.0% | Russian Market access |
| Local BKK3 mid-rise | 1BR unfurnished | 40 sqm | $380 | 7.5% | Local tenant mix |
| Time Square cluster avg | 1BR blended | 43 sqm | $450 | 7.2% | Portal archive Q2 2026 |
MORE Group rent comp case study for this page anchors on Time Square 11 completed a 1BR furnished at 42 sqm quoting 480 per month implies about 7 1 gross before vacancy at typical ask prices The spread to Time Square 306 completed at 520 shows furnishing and floor drive a 7 0 to 7 1 gross band We underwrite net returns after 1 to 2 months vacancy 8 to 12 management and sinking fund lines because 12 to 15 brochure yields remain marketing only in 2026 Banking NPL near 8 9 raises completion risk on competing off plan supply that can soften rents 6 to 12 months after handover Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
MORE Group buyer nationality mix: Time Square Ocean View Review
enquiry mix on Time Square Ocean View Review shows which nationalities actually buy this ticket size a lead indicator for resale depth Polish leads at 17 4 on this page skewed toward lowest 40k ticket driver Confirm live comps with a Cambodia lawyer before transfer.
| Nationality | Share signal | District / project skew |
|---|---|---|
| Polish | 17.4% | Lowest $40k ticket driver |
| Russian | 15.2% | Ocean View specific funnel |
| Chinese | 5.8% | Growing on handover marketing |
MORE Group buyer nationality methodology tracks enquiry share from realestate com kh and Phnom Penh shortlist requests not census data On this page the leading signal is Polish at 17 4 with skew toward Lowest 40k ticket driver Polish 9 0 Russian 9 6 and French 7 4 remain citywide anchors in 2026 but building level mix diverges Megakim entry towers overweight Polish and Russian buyers while BKK1 and Koh Pich overweight French and Chinese enquiries Use the table as a resale liquidity hint when foreign quota nears 70 Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer Treat every row as indicative Q2 2026 archive math Confirm live rent quota and SPA escrow language with a licensed Cambodia lawyer before transfer.
Insider tip: On Time Square Ocean View Review, archive three rent comps, the foreign quota letter, and escrow or milestone exhibits in one folder before you wire more than 10% to 20% deposit, because 2026 stamp duty relief binds to registration timing not SPA date alone.
Frequently Asked Questions
Time Square Ocean View is Megakim's lowest entry tier, with units marketed from about $40,000, at or below the $1,800 per sqm Phnom Penh average. That headline buys a small studio or compact one-bedroom, so confirm the exact unit, floor and net size on the official price list before relying on the figure.
Yes. Foreigners can hold strata co-ownership above the ground floor within the 70% foreign quota per building, the standard Cambodia rule. Ground floor and land stay off-limits. Confirm the remaining foreign quota in this specific tower in writing before any deposit.
Megakim commonly markets 20% down with the balance over roughly 40 months. The decisive detail is what instalments are tied to: milestone-linked releases protect you, while calendar-date payments leave you carrying delivery risk if the tower stalls.
Treat any 12% to 15% gross yield claim as marketing only with no guarantees. A low entry price can lift the gross percentage, but model net yield after 1 to 2 months annual vacancy, management fees and maintenance using real BKK3 rent comps, and expect price-sensitive tenants.
Megakim sells the Time Square series largely off-plan on instalment plans. Verify the current construction stage with site photos, confirm the Haspo contractor on project documents, and tie payments to verified milestones. Phnom Penh's 8.9% banking NPL ratio makes presale-funded delivery risk real.
Both are Megakim entry stock. Ocean View anchors the lowest ticket from about $40,000, while Square Castle sits a notch higher from about $50,000 for slightly larger or better-specified units. The choice is budget against space, not entry tier against premium.
Frequently Asked Questions
Time Square Ocean View is Megakim's lowest entry tier, with units marketed from about $40,000, at or below the $1,800 per sqm Phnom Penh average. That headline buys a small studio or compact one-bedroom, so confirm the exact unit, floor and net size on the official price list before relying on the figure.
Yes. Foreigners can hold strata co-ownership above the ground floor within the 70% foreign quota per building, the standard Cambodia rule. Ground floor and land stay off-limits. Confirm the remaining foreign quota in this specific tower in writing before any deposit.
Megakim commonly markets 20% down with the balance over roughly 40 months. The decisive detail is what instalments are tied to: milestone-linked releases protect you, while calendar-date payments leave you carrying delivery risk if the tower stalls.
Treat any 12% to 15% gross yield claim as marketing only with no guarantees. A low entry price can lift the gross percentage, but model net yield after 1 to 2 months annual vacancy, management fees and maintenance using real BKK3 rent comps, and expect price-sensitive tenants.
Megakim sells the Time Square series largely off-plan on instalment plans. Verify the current construction stage with site photos, confirm the Haspo contractor on project documents, and tie payments to verified milestones. Phnom Penh's 8.9% banking NPL ratio makes presale-funded delivery risk real.
Both are Megakim entry stock. Ocean View anchors the lowest ticket from about $40,000, while Square Castle sits a notch higher from about $50,000 for slightly larger or better-specified units. The choice is budget against space, not entry tier against premium.
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