When people are considering buying Phnom Penh real estate, they often end up looking at two options – either purchasing a condo in the city or a borey. The lack of available central villas, which have largely been transformed into boutique hotels or office blocks, and the somewhat ramshackle appearance of the traditional shop front house means that realistically these are your only alternatives if considering purchasing real estate in Phnom Penh.
Phnom Penh Real Estate – Condo v Borey
A clear advantage of buying a condo is that you can purchase an apartment in the central Phnom Penh area. However, with rising pollution the advantage of this is somewhat debatable. Technically the only real estate in Phnom Penh that foreigners can buy is strata title, ie a condo, although there are ways such as incorporating a land holding company, and the nominee structure, to circumvent this.
However due to its predominantly central location and attractiveness to foreign buyers the price of purchasing a condo can be prohibitively expensive. This is why buying a property in a borey has for some time been an increasingly attractive proposition.
Advantages of Borey
For many purchasing a property in a borey is realistically the only way they can make that first step into the Phnom Penh real estate market, due to its relatively affordable price. For others, however, purchasing a property in a borey represents a lifestyle choice.
That said there are borey and there are borey. Some borey resemble ghost towns with little atmosphere or social amenities, where people buy the property solely for its retail value. As with all ventures into the Cambodian property market it really pays to do your research before making that initial down payment.
Location, Location, Location
A golden rule of all property purchases anywhere in the world is ‘location, location, location’. Some locations such as central BKK1 are evergreen, but that also means they can be outside your budget. We advise that you consider more up and coming areas such as Chbar Ampov just over the Monivong Bridge and The Chroy Changva peninsula if you are looking for real estate in Phnom Penh.
A third area is in Kambol district to the west of the city, which is close to the popular Sok Sen area with its AEON Mall 2 and Makro. Kambol has many of the advantages of Sok Sen without the soaring prices, making it, in our opinion, an excellent location for those people looking to invest in the Phnom Penh real estate market
Fortunately for you this is also where Borey Williams has developed its two borey. We
pride ourselves upon creating communities where people want to live and bring up their children, much like the communities you can find in the US and the West. All our borey have large communal areas, including swimming pools and leisure facilities. Making your home at Borey Williams represents not just a sound investment it is also joining a welcoming and vibrant community.