5 Important Tips to Follow while Investing in a Property in Cambodia
Most people looking forward to buying properties in foreign countries are making investments in order to grow their wealth. Several Westerners are invested in real estates in Asia, particularly in countries like Cambodia, Thailand and Malaysia. Here we’ll talk about things to remember while buying a property in Cambodia.
1. Find Secure Areas
First of all, you should look for real estates in places where there are excellent safety features. Cambodia has changed a lot in last few years; still, there may be a risk in some areas. In order to protect your investment and give you and your tenants peace of mind, check if the property has adequate security features like gates and onsite security.
2. Visit the Area
Prior to investing in a property in Cambodia, or for that matter any country, you should visit the area where you want to invest. Some of the most popular areas in Cambodia include the capital city of Phnom Penh, the coastal community of Sihanoukville and Siem Reap, a famous tourist destination. For example, The Bridge Cambodia is a 45-storey mall composed of 2 magnificent towers located in the heart of Phnom Penh offering the breathtaking view of the city’s skyline, is a great investment option. Visit the area and know its characteristics before making a decision of investing money there.
3. Do Your Research
You can save your time by going through online property portals that feature places that are for sale. Upon finding listings in the area where you are interested, you can send messages to local property agents showing your interest. When they communicate to you, ask them to schedule visits to the properties you have shortlisted.
It’s usually tough for foreign citizens to purchase real estates in other countries and in Cambodia, the status is no different. The only kinds of properties that foreign nationals can buy outright are condominiums or units having strata titles. This is important to understand when you start searching for properties. If the restrictions on property ownership are beyond your understanding, take help of someone experienced in Cambodian property investment to know their regulations.
5. Get Advice
Meet a professional advisor experienced in real estates and get their advice about where to invest money. They have the latest information based on which they can help you decide where to purchase a property and calculate the exchange rates so that you can choose real estates that you can afford. They can even help you decide whether to invest your money in a commercial or residential property for better returns on investment.
Follow these tips and you can become a proud owner of a nice property in the beautiful country of Cambodia.