Cambodia real estate market – A quick overview
Why invest in Cambodia?
As a land of mystical places, Cambodia never stops to fascinate the visitor. Surrounded by Thailand, Laos, and Vietnam, the country with its rich landscape and heritage sites is enticing. As far as the economy is concerned, there has been a steady growth in this country. The growing economic trend in every sector of Cambodia has increased real estate. As a result, many investors including foreigners are showing interest in buying property in Cambodia.
Development in the real estate sector:
With a majority of Cambodia real estate development happening in Phnom Penh, which is the capital city of Cambodia, other places like SiemReap, Sihanoukville, Poipet, Bavet, and Kep are also witnessing a spurt of growth. Recent reports have shown that there has been a constant flow of real estate development work going on in these areas. Residential and commercial areas are both finding its development to cater to the needs of the influx of people moving here in search of growth. However, one exciting factor about Cambodia is that the real estate rates here are cheaper making it affordable for everyone.
The locals, as well as foreigners, are looking forward to investing in properties majorly in Phnom Penh, with the increase in employment opportunities. The connectivity to other places from here also makes it a better choice for investors. Nevertheless in areas like SiemReap and Sihanoukville also, there is a steep demand in investing in properties.ChamkarMon district in Phnom Penh has a few excellent international schools along with some sprawling villa developments here, making this area a better choice for people looking for better standards of living. Since major cities are witnessing a considerable rise, investment in mid-tier towns such as Poipet and Battambang is also worth considering as they are a promising future in these areas.
Types of houses available for investment:
Villas, townhouses, row houses, apartments, and condominiums are some of the kinds of constructions available in Cambodia. Nevertheless, the condo market has seen a rise in the recent days, due to its affordability and the conveniences that come along with it. There is one to suit every type of investor. The rates of the condominiums differ according to the budget of the investor. There is a high-end and mid-end range of homes available for investment. The upcoming middle-class sections will be more benefitted as the mid-range homes cater to their growing needs of buying a property.
How can a foreigner invest in Cambodia?
The introduction of ownership law as far as foreigners are concerned has also brought a change in the investment scenario, bringing in a lot of foreign investments, especially in the apartment and condo sector, as there are restrictions for foreigners owning land area in Cambodia.
Many multinational companies have started their operations in the major cities of Cambodia, which has given rise to the job market rise here, making it a preferable place for investment. The future is optimistic for investments in Cambodia, with the development in infrastructure and construction of roads throughout the country. As per the studies and analysis with regards to the trends in real estate, it is a promising one at least for the next few years. A few experts say that there was no reason to see a downward trend here.