If you are looking to purchase property in the Kingdom, it is a good idea to have at least a cursory knowledge of the Cambodia real estate market. In this short guide we aim to provide you with the basic information on buying property in Cambodia. However, should you have any further questions our team is always willing to answer them.
Cambodia Real Estate Market
The good news is that the Cambodia real estate market has been consistently buoyant for a number of years and shows no signs of relenting any time soon. The growing population and sustained rising GDP mean that the demand for property in Cambodia is strong. So, you can predict a good return on your investment should you abide by some basic rules and understand the Cambodia property market.
Types of Property in Cambodia
The first thing to know is the type of property available to be purchased in Cambodia – for this article we are focusing on personal rather than retail property. Broadly speaking you can buy a villa or house, a shophouse or townhouse, a condo or apartment or a borey property in gated communities. There are restrictions on which type of properties foreigners can purchase in Cambodia but we deal with that in other articles.
Current Market Status and Outlook
The largest growing sector in the Cambodia real estate market is affordable housing appealing to first time home buyers. These are Millennials entering the housing market.
Rising property prices have forced these buyers to turn away from the city center or downtown area of Phnom Penh where the traditional shophouse property has become too expensive, and villas are nowhere to be found.
They are looking to suburban Phnom Penh where the real property bargains can be found, especially in the boreys, or gated communities. The good news is that when the Phnom Penh ring road is completed around the Cambodian capital, these areas will become more accessible, both improving quality of life here, and also stimulating further rises in property prices.