Introduction
Real estate in Cambodia is booming. The country has some of the lowest prices in Asia, and many foreigners are looking for an investment opportunity. Recent years have seen a lot of new developments cropping up around the country, but it’s still important to be discerning when buying real estate abroad.
I personally own a condo in Cambodia. It’s a great place to have an investment property or even just own a second home. If you’re thinking about buying one, here’s everything you need to know about real estate in Cambodia
This guide is aimed at anyone interested in buying real estate in Cambodia. It takes you through the process of finding the right property, making an offer, negotiating the contract, paying for the property, and making an appointment with a Notary Public to finalise the sale.
Everything You Need To Know About Real Estate In Cambodia
Buying property in Cambodia is a complicated process. If you’re thinking about buying property in Cambodia, here are some things you need to know.
Types Of Real Estate Property In Cambodia
There are numerous types of real estate property in Cambodia, the factors affecting their prices, and the laws that apply to them.
Shophouses
Shophouse is where to take if you have a tight budget. These are the narrow and long structures with stores and shops on the ground surface.
Apartments
The specialized apartment complexes or individualized spaces in Cambodia have become more prevalent. Most of them are entirely furnished and similar to those in another major metropolis.
Serviced Apartments
Serviced apartments are establishments that have been outfitted with high-end facilities. In addition, there are gyms, swimming pools, and cleaning services available.
Vilas
Villas are single-family homes or premier properties with anywhere from three to ten bedrooms. Almost all are two or three stories tall, include parking, and a few even have swimming pools. They can be used either for businesses or residences.
Rental Cost In Cambodia
The cost of rental properties is important to factor before deciding on real estate investment. In Cambodia, the rent varies considerably based on the kind of property, location, and other services.
For as little as 300 USD monthly, you may get an authentic Cambodia property for rent.
A shared apartment may cost as minimum as 150 USD a month, whereas a luxury apartment may cost about 500 USD monthly.
Besides, serviced luxurious apartments in the Western-style are outstanding, and prices range from 500 USD to 2,000 USD monthly. These are usually fully furnished, and the properties include security, gyms, and a pool.
Hiring An Real Estate Agent In Cambodia
Working with a real estate agent in Cambodia is likely the ideal approach to locating your ideal real estate property if you are a newcomer. In a few cases, agents in the area are paid a commission by the landlord, so you don’t have to deal with additional expenses. Instead, you only need to let them know what you are searching for, and they will take care of getting you to all of the available properties for investment or rent.
If you engage a real estate agent, they may also assist you in negotiating the final amount.
Signing A Lease Agreement For Rental properties
When you sign the lease agreement, ensure having a copy in English so that you can go through it and understand. Lease agreements are typically for about six months or one year. Deposits really shouldn’t exceed a one-month rent, electricity must not cost over 0.25 USD/kWh, and water must not cost more than 0.50 USD/cubic meter.
Cambodia’s Best location
Most visitors to Cambodia stay or invest in one of the country’s three main cities: Phnom Penh, Siem Reap, or Sihanoukville. A few minor cities are also popular with both tourists and long-term visitors. Also, a few well-known destinations include Kampot, Kep, Battambang, and Koh Kong.
Phnom Penh is undoubtedly the greatest area to stay in Cambodia if you enjoy certain comforts.
However, if you look for art and nature, Siem Reap is the ideal place to go. Besides, if you want to chill, you may consider Kep or Kampot.
For ex-pats searching for a laid-back lifestyle with fresh sea air, one of these places is the finest place to reside in Cambodia.
Conclusion
We wish you luck in your search for a property in Cambodia. You may contact or explore IPS Cambodia for all of your real estate investment opportunities and requirements and use it as a resource when navigating life as a foreigner in Cambodia.
