Residential Real Estate Cambodia – What do you need to know?

05 September 2022 | Posted in Content Hub, News

Residential Real Estate Cambodia – What do you need to know?

Investing in real estate in Cambodia is not a very complex process, however, still, there are many procedures you need to be aware of. First on the list is understanding the type of real estate you want to invest in. Among the many types of real estate, investing in residential real estate in Cambodia has garnered much attention. So what is residential real estate?

Residential real estate refers to an area of property that is developed for the purpose of living. Lands and buildings that are developed for residential are more often than not pursued by families or individuals who want to live independently. Nonetheless, this does not mean that purchasing residential real estate is only limited to the sole purpose of living.

What is the different type of residential real estate?

The demand for affordable and standard housing in Cambodia gradually increases simultaneously with the increase of residential real estate development projects too. There are many types of residential real estate such as flats, studio units, duplexes, penthouses, and many more. However, there are a few particular common types such as:

    Apartments:

Apartments are generally popular among working young adults, both locals and foreigners. There aren’t many facilities provided for most apartments beside security and maintenance. Strata titles are not eligible for apartments, therefore the building is usually built with the intention of renting.

    Condominiums:

Condominiums are especially on the rise in Cambodia. The variety of condominiums caters to many different groups of people depending on their financial capabilities, lifestyles, and locations. Some common characteristics of condominiums purchasers tend to be millennials who prefer to have access to modernized facilities and the convenience of a quality lifestyle.

    Shop Houses:

For newlyweds and families with basic income, owning a shophouse is a very attractive choice. With shophouses, families are given free will to either rent out the property or open their own business while also living there. The difference between shophouses and normal houses lies in the simple fact that shophouses are developed within a community that allows businesses to flourish with proper security and management.

    Boreys:

Everywhere you go, you are most likely to see banners advertising real estate development projects referred to as Borey. In one borey, there are multiple different structures and housing types all including in one medium to large-scale residential real estate development including link houses, shophouses, villas, and other infrastructure buildings to complete the dream lifestyle. Since there are a variety of housing types in one borey, there is no specific categorization of residential house purchasers in a borey.

Who should buy Residential Real Estate?

In alignment with the purpose of residential real estate, those who are in search of a permanent place to live are more than eligible to buy any type of residential housing. Common buyers of residential real estate housing include newlyweds, detached families, and those looking to improve their living environments.

Why should you buy any type of Residential Real Estate?

If you identify closely with the people listed above, then here are more reasons why you should make the investment in residential real estate:

  1. The purchase will result in you having a permanent household for yourselves and your family.
  2. You will feel satisfaction and stability from this purchase as a house owner.
  3. From this investment, you can increase your passive income or add to your property list
  4. It is a safe investment for both the short-term and long-term run considering if there is any inflation or economic crisis, etc.

What should you consider when buying any Residential Real Estate?

Like any purchase, before deciding on which housing type or real estate project to buy, these are a few things you should consider:

  • Pricing: before anything else, you should be aware of the price of the residential house you have your eyes on. Check whether or not it is within your budget or possible for you to purchase it whether on a loan or in installments.
  • Purpose: be sure of the purpose of your purchase such as the reasons why you want to make the purchase, to begin with. This will help you with your decision toward the purchase as well.
  • Location: take note of the location of the house and see if it is aligned with the purpose of your purchase.
  • Quality Check: observe and research the residential housing type and project you are interested in. The basic checklist on this quality check should include the design and building quality, the living environment and communities, and of course whether it is lawful or not.

In conclusion, investing in residential real estate may seem like it is only for living but in reality, there is more than just that. Investing in residential real estate will help to increase your income flow one way or another, provide stability and security, and allow you to gain more assets for future plans. If you are looking to buy residential real estate in Cambodia but feel lost or need professional advice, CBRE can be your agent for finding the best-suited residential real estate for you!

Click here to read about: The Rapid Growth of Phnom Penh Real Estate Market

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