Real estate investing in Phnom Penh
Real estate investing in Phnom Penh
long story short, I made a lot of money in cryptocurrencies and I now want to invest in Real estate.
I hesitate between Vietnam and Cambodia, leaning more towards Cambodia at the moment. Is it a good moment to invest in real estate in Cambodia? How easy is it for a foreigner to get a long term visa, open bank account, get mortgages etc here?
Anybody invested in Vietnam also? I would prefer to invest in Vietnam but the 50 years old lease (you basically never own the real estate) seems weird to me. And it also seems MUCH MORE difficult to do business in Vietnam (the visas, setting up a business, etc)
I hesitate between Vietnam and Cambodia, leaning more towards Cambodia at the moment. Is it a good moment to invest in real estate in Cambodia? How easy is it for a foreigner to get a long term visa, open bank account, get mortgages etc here?
Anybody invested in Vietnam also? I would prefer to invest in Vietnam but the 50 years old lease (you basically never own the real estate) seems weird to me. And it also seems MUCH MORE difficult to do business in Vietnam (the visas, setting up a business, etc)
Visas on arrival are not being issued. A visa from your nearest Cambodian embassy is possible but you’ll need a sponsor and a job.
Why do you need a mortgage (which you can’t get) if you’ve made lots of money?
You can only own strata title apartments and shop houses above ground floor. You can’t own land but can lease it - 25 year is popular.
Prices will go up but not for another two years.
There’s an oversupply of condos everywhere.
Why do you need a mortgage (which you can’t get) if you’ve made lots of money?
You can only own strata title apartments and shop houses above ground floor. You can’t own land but can lease it - 25 year is popular.
Prices will go up but not for another two years.
There’s an oversupply of condos everywhere.
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pew, pew, pew, pew!
"Is it a good moment to invest in real estate in Cambodia?"
Yes, along the Road #4 corridor linking Phnom Penh with Sihanoukville. As soon as the new Chinese road is finished, factories will be springing up through Kandal and Kompong Speu.
You'd need a Cambodian partner, or at least a foreign partner who has deep ties to the elite.
As YTP says, during the covid crisis you won't get a visa, but the positive aspect is the road is still being constructed and will therefore be near completion when things get going again.
Yes, along the Road #4 corridor linking Phnom Penh with Sihanoukville. As soon as the new Chinese road is finished, factories will be springing up through Kandal and Kompong Speu.
You'd need a Cambodian partner, or at least a foreign partner who has deep ties to the elite.
As YTP says, during the covid crisis you won't get a visa, but the positive aspect is the road is still being constructed and will therefore be near completion when things get going again.
If he really has a lot of white money, then he might go for the investment Cambodian citizenship, effectively providing more buying options. An alternative might be the "local company" road, where the company does own the property and the owner owns the company with a disabled majority of Khmer shareholders.YaTingPom wrote: ↑Sun Apr 18, 2021 12:22 pmVisas on arrival are not being issued. A visa from your nearest Cambodian embassy is possible but you’ll need a sponsor and a job.
Why do you need a mortgage (which you can’t get) if you’ve made lots of money?
You can only own strata title apartments and shop houses above ground floor. You can’t own land but can lease it - 25 year is popular.
Prices will go up but not for another two years.
There’s an oversupply of condos everywhere.
Though, the money might not be known to his/her local tax-office, so he needs to go somewhere, where the ownership registrations aren't that much structured and no back-home reporting is done.
Why mortgages: Well, that's an amplifier on the amount of investments you can make. Have USD 1M, you could get some 50-75% mortgage at a low interest rate, giving you the opportunity to invest USD 2 - 3M. It just does increase the overall ROI, spreads the risk over multiple projects and "shares" the risk with the bank.
Or so to say, the questions aren't that stupid
A mortgage always makes sense as it leverages your coin.
I wouldn't touch condos in the city, especially new units, oversupply and crappy Chinese built quality.
Your best bet, if you can overcome the Visa and ownership restrictions, would be farmland in the provinces. A lot of distressed sales going on right now, with every possibility of doubling or tripling your investment within a few years.
PS get out of Doge if you're still there
I wouldn't touch condos in the city, especially new units, oversupply and crappy Chinese built quality.
Your best bet, if you can overcome the Visa and ownership restrictions, would be farmland in the provinces. A lot of distressed sales going on right now, with every possibility of doubling or tripling your investment within a few years.
PS get out of Doge if you're still there
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Foreigners can only legally own Strata-titled properties - shop houses above ground floor are not strata-titled, foreigners cannot legally own them.
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I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
Why you want long term visa? If you are after that then look different countries. They are making it harder every year.drfreud wrote: ↑Sun Apr 18, 2021 4:49 amlong story short, I made a lot of money in cryptocurrencies and I now want to invest in Real estate.
I hesitate between Vietnam and Cambodia, leaning more towards Cambodia at the moment. Is it a good moment to invest in real estate in Cambodia? How easy is it for a foreigner to get a long term visa, open bank account, get mortgages etc here?
Anybody invested in Vietnam also? I would prefer to invest in Vietnam but the 50 years old lease (you basically never own the real estate) seems weird to me. And it also seems MUCH MORE difficult to do business in Vietnam (the visas, setting up a business, etc)
Foreigners cannot get mortgages.
Yes it's still good time and it's easier compared to Vietnam. Look affordable condo projects in Phnom Penh area. It's the high end condos that have oversupply and it's hard to make money with those as sale prices are way too high compared to rents. Affordable units you can still make easily 15-20% ROIs and long term 10% should be very achievable too.
Also Sihanoukville is good place to look as the prices are pretty reasonable still there. Though again, avoid investing "high end" projects as the ROI will not be that great in those.
Interesting topic and very informative answers. I cannot seem to send a PM across. Can anyone very kindly share or advise what would be a recommended project for investment? Anyone has any comment on D.I. Riviera? Very much thanks in advance.
Oh this is so so true on the crappy built quality! Anyway really not advisable to touch the new condos in city? Not even those affordable cheaper ones? Many thanks in advance for your reply.
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I've heard this but I'm a little bit confused by some of the phrasing so sorry if the answer is available elsewhere. I thought that foreigners were not allowed to purchase non-Strata-titled properties that were located on the second floor (or first floor I guess they call it here) or above. If I wanted to purchase a villa that had a second floor I would not be able to?
barangfantasia, a villa does not fall under the Strata title category, therefore as a foreigner you cannot legally own. There are methods of purchasing non-strata Titled properties, but you will never legally own any such property 100%, and will not have the Title issued in your name.
Strata title is currently restricted to condominiums and office buildings.
A quick summary of what a Strata Title in Cambodia is:
A Strata Title is a special title commonly used for condo unit purchases that is available to both Cambodian nationals and foreigners.
Strata Titles can only be granted if the property in question satisfies these criteria:
- Only applicable to buildings constructed in 2010 and beyond.
- Foreigners can only own 70% of the total surface area of the building or property.
- Strata Titles cannot be issued for properties on the ground floor and/or underground.
- Strata Titles cannot be issued for any property within 30km of the nearest land border.
Most new condo development projects offer this type of title to accommodate foreign demand to own property in Cambodia.
The Law on Foreign Ownership’ was promulgated on 24 May 2010. This law limits foreign ownership to co-owned buildings. Foreigners still cannot own land, as it is unconstitutional. Strata Titles are issued by the Ministry of Land Management, Urban Planning, and Construction. This means Strata Titles are recognized on a national level.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Strata Title transfer.
Strata title is currently restricted to condominiums and office buildings.
A quick summary of what a Strata Title in Cambodia is:
A Strata Title is a special title commonly used for condo unit purchases that is available to both Cambodian nationals and foreigners.
Strata Titles can only be granted if the property in question satisfies these criteria:
- Only applicable to buildings constructed in 2010 and beyond.
- Foreigners can only own 70% of the total surface area of the building or property.
- Strata Titles cannot be issued for properties on the ground floor and/or underground.
- Strata Titles cannot be issued for any property within 30km of the nearest land border.
Most new condo development projects offer this type of title to accommodate foreign demand to own property in Cambodia.
The Law on Foreign Ownership’ was promulgated on 24 May 2010. This law limits foreign ownership to co-owned buildings. Foreigners still cannot own land, as it is unconstitutional. Strata Titles are issued by the Ministry of Land Management, Urban Planning, and Construction. This means Strata Titles are recognized on a national level.A Transfer tax of 4% percent will be paid based on the total property value upon the facilitation of the Strata Title transfer.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
MESONG at diamond island , contact me I’m the sales there
You must be praying that potential buyers don't read the Google reviews on the same ... ouch.
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Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
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