Sometimes purchasing a property in Cambodia, or anywhere else in the world for that matter, seems like navigating a minefield. You know there are great deals out there, but how do you secure one. This is why at Borey Williams we have compiled this handy guide to residential property investment.
3 Residential Property Investment Tips
Shop houses and flat houses are a dime a dozen but landed property in the city centre will always come at a high cost. Many sit around vacant unless they are in a suitable location to run the ground floor as a retail business. Condo developments can be prohibitively expensive, and most central Phnom Penh villas have either been demolished or converted into commercial space, which is why we recommend that you consider purchasing a property in a borey. But which borey should you choose? Here are out three tips.
1. Choose the Right Neighborhood
The old adage of location, location, location applies as much to borey in Phnom Penh as to lofts in downtown Manhattan. Some borey neighborhoods are more desirable than others. When selecting in which borey you are considering purchasing your dream home, we suggest you look for high occupancy rates, whether existing residents are happy, and the extent and quality of local amenities, including those within the borey itself. Fortunately for you, Borey Williams ticks all the right boxes here.
2. Buy From Plan
Another tip is to consider buying in a new development or from plan. You will often find that when the developer is just breaking ground is when the best deals can be found.
3. Make Money From Day One
Some proper developers, such as Borey Williams, raise the price of their homes incrementally as the construction progresses. This allows customers to profit by some 15%-20% by the time their home has been completed. Meaning that you have literally made money on your investment even before you have moved into your ideal home.
Of course, we can’t guarantee that every property investment will be a successful one, but if you follow the above advice you will substantially increase your chances of a healthy return.