There are various different types of real estate in Cambodia from condos to borey and villas. This article guides you through the pros and cons of the various types of real estate in Cambodia
Real Estate in Cambodia
Traditionally real estate in Cambodia, especially in the capital Phnom Penh fell into two categories – shophouses and villas. Older shophouses can be a bit dilapidated and in need of some investment to make suitable for modern living while many villas have generally been converted into hotels and offices or demolished for a condo or office development. More recently there has been an increase in newly built borey developments and condos.
Borey Developments
Borey are gated communities with many amenities such as a pool, tennis court, shopping facilities, food outlets, markets, schools and clinics, as well as providing good security. Real estate in a borey can be the perfect setting for bringing up a family, especially if you purchase a detached home in suburban developments such as Borey Williams, which is close to modern amenities and good infrastructure, and has a contemporary American-style design. They can also provide great investment opportunities either via rental or through purchasing a small commercial or retail property in the borey. Boreys represent great opportunities for taking that first step on the Cambodian property ladder.
Condos in Cambodia
In recent years there has been a flood of condos or high-rise and mid-rise apartments to purchase in Phnom Penh. Part of the reason for this boon is because the condos are marketed and sold to foreign buyers, although foreigners can also purchase property in a borey by means of nominee structure. The advantage of purchasing a condo is that they tend to be in the heart of the city and are equipped with all the modern amenities. This is currently a buyers’ market due to the surfeit of property available, but make sure to do your due diligence on the developer and don’t look for a quick re-sale.
