Tips for Investing in Property in Cambodia

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Most people who buy properties in foreign countries are not looking for a new residence, but they are making investments to grow their wealth. Many westerners seek investments in Asia, especially in places such as Cambodia, Malaysia, and Thailand. If you are interested in making property investments in Cambodia, here are some tips to help you.

Travel to Area

Before putting money into a property investment in Cambodia, or any other country, you should plan a visit to the area where you want to invest. In Cambodia, some of the popular areas include the capital city of Phnom Penh, the beachside community of Sihanoukville, and Siem Reap, which is a popular tourist destination. Travel to the area and get to know its characteristics before deciding where to invest your money.

Search Online

To save time looking for properties, you can use online property portals to find places that are for sale. Then, when you find listings in the area in which you’re interested, you can send messages indicating your interest to local real estate agents. When they contact you, ask them to schedule showings for the properties you’ve found for when you visit Cambodia.

Research Restrictions

It is often difficult for foreign nationals to buy property in other countries and Cambodia is no different. The only types of properties that foreigners can own outright are condominiums or units that have strata titles, which is important to know when you begin searching for properties. If you don’t understand the restrictions on property ownership, contact someone who is experienced in investing in Cambodia property to understand their regulations.

Seek Advice

Before jumping into foreign property investing, meet with an advisor experienced in the industry to get his or her advice about where to put your money. He or she can look at current information to help you decide where to buy property and figure out the exchange rates so you can select properties you can afford. He or she can also help you decide whether to put your money into residential or commercial property for a better rate of return.

Look in Secure Areas

In order to protect your investment, you should look for properties in secure areas that have good security features. Cambodia has changed over the past few decades, but some areas can still be dangerous. To give you and your tenants peace of mind, look for properties that have features such as onsite security and that are in gated communities.

Budget for Taxes

When figuring out how much you can afford to pay for a property, don’t forget to figure in the taxes that you will be required to pay. Foreigners have to pay several taxes in Cambodia and then there are taxes on rental income as well. Capital gains taxes and a VAT, or value added tax, will also be added to real estate transactions for buyers and sellers.

If you are not familiar with property investments in other countries, find someone who can help you get started. No matter where your properties are located, property investing can be lucrative.

Content Concord is the writer behind belfieldrealestate.com, a blog focused on real-estate. She is a professional writer specializing in real-estate, business Investing and many other intellectual fields.

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