BKK1 Phnom Penh – The Place to be seen
May 6, 2022
BKK 1 Phnom Penh is one of the dost important and indeed popular real-estate destinations in Phnom Penh. Known as the “foreign capital” since the
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If you are looking for real estate in Cambodia, then look no further. Here at Lux Realty, we cater for a diverse range of land and real estate options in this booming market.
Phnom Penh real estate has seen unprecedented growth in the last decade. Our team provides a wide range of options from French colonial villas to stunning modern homes, small to extensive commercial properties and brand new luxury condos for sale in Phnom Penh.
Our other team specialises in Kampot real estate. Our dedicated team sources premium options for new commercial properties, land investment options and stunning condos and villas for sale in Kampot.
At Lux, we work closely with pools of foreign investors to enable them to be part of profitable Cambodian land investments.
We use our extensive network of agents and countrywide knowledge to source land to invest in as a collective.
This innovative scheme opens the door for investors to profit from the construction boom and ever-increasing land prices in Cambodia.
We source multiple options to fit all kinds of portfolios.
BKK 1 Phnom Penh is one of the dost important and indeed popular real-estate destinations in Phnom Penh. Known as the “foreign capital” since the
World Bridge Sports Village represents a new level of contemporary living in modern Cambodia. Oxley Worldbridge (Cambodia) Co., Ltd is a joint venture between Singapore-based Oxley International Holdings and Cambodian-based Worldbridge Land (Cambodia) Co., Ltd.
In the first part of our guide on how to find your ideal property, we looked at the various factors involved when buying a property. For renting, there are of course certain similarities, though with the amount of properties available to rent in Cambodia, it may be a harder decision at times.
The housing market we see today started its main growth period during 2011, fuelled by strong economic growth and coupled with introducing the new foreign ownership law. On the back of this, Cambodia saw unprecedented growth in the economy for years.
With Cambodia being more accommodating to foreigners for investing and living, the Kingdom is becoming the most dynamic market in South East Asia.
In the last decade, the construction boom in many parts of the country provides options to suit every individual, family or business person.
In essence, you have every option an emerging market offers.
From luxury condos for sale in Phnom Penh, Siem Reap and Sihanoukville to villas for sale in Kampot, Kep and Koh Rong, the market offers something for everyone.
Land investing is now an available option, including investment properties and commercial land and property.
If you are looking for luxury or simply convenience, then you will find it in Cambodia through Lux.
The residential market offers a variety of choices in all shapes, sizes and prices including apartments, condos, houses and villas.
Our residential team look to understand the requirements of every individual or family quickly to present suitable options that satisfy your needs.
Using innovative ways of sourcing using local relationships and our networks, we deliver solutions and service delivery to suit everyone.
Commercial Services
The commercial market is challenging, but it delivers at all levels for small start-ups to international corporations.
Our commercial team provides advice and plenty of options to gain any business advantage for occupiers and investors.
The market consists of Borey’s, shop houses, restaurants, gyms, office spaces, hotels, shopping malls and more.
With the market ever-evolving, providing real-time information to give our clients a competitive edge is a challenge where we always deliver.
Investment Properties
Before you invest, you need an agency that matches investment objectives with strategic location planning at the forefront of recommendations.
With access to a range of development sites, serviced buildings, and commercial properties, we provide all kinds of asset classes to suit various portfolios.
With in-depth local knowledge, market know-how and a vast database, we give our commercial real estate investors the expertise and support to succeed.
Land Investment Services
Our innovative idea is setting a new standard in the industry. By working with pools of foreign investors, we purchase large tracts of land in areas that are fit for development.
We use our extensive network of agents and countrywide knowledge to source sought after land to provide fast and reliable returns for our clients. With land prices steadily rising and construction at an all-time high, this is an ideal model for investment returns.
Appraisal and Valuation Services
When investing, buying or selling any business or property abroad, it is vital to have dedicated professionals with experience in the marketplace ensuring transparency and appropriate pricing.
Our experts provide precise business, property and assets valuations using accurate information, techniques and access to a significant property database.
Cambodia is a fast-paced market, you need experts with their fingers on the pulse.
The answer is YES
Foreign ownership of property in Cambodia is permitted; however, there are certain restrictions that you need to be aware of before committing.
For a foreign buyer or investor, anything from the first floor upwards in a residential or office building can be purchased if a Strata title applies to the building.
The foreign ownership level cannot exceed 70% of any one building. The Strata title acts as a kind of hard title, allowing the building owner to divide it into various individual properties for sale.
This is ‘Condominium Law’. As a rule-of-thumb, these are generally granted for new buildings that are now being built specifically for this purpose. A Strata title does not apply to buildings constructed before 2010.
Alternatively, a foreigner can own 49% of private property regardless of the structure if they partner with a Cambodian legal entity.
This is defined by the legal entity having 51% or more of the shares held through a Cambodian citizen(s). If you enter into this agreement with a Cambodian national, all types of property and land are available to you.
This a universally asked question for any country or city.
To be able to find what you are looking for, you or your real estate company must ask the following questions:
These are fundamental questions that enable our staff to assess your demographic.
Phnom Penh, for example, has 1-bedroom houses up to 10-bedroom colonial villas, so there is a vast spread of properties and prices.
If you take into consideration off-plan, opportunities can start as low as US$56,000, with the higher end of the market being anywhere between US$1.5-2.5 million.
So there is something for everyone, but understanding your requirements is key.
After the Khmer Rouge fell, it took until 1989 where the government issued a Land Law. The law initiated a framework to recognise both property and property rights in the Kingdom.
Then in 2001, the Land Law was enhanced to help clarify ownership. Under current law, properties are registered in two ways:
With systematic registration, the government measures a plot of land and gives it registration and titles. With sporadic registration, this is actioned through the Central Cadastral Office. You may be familiar with the name of the two titles available:
Land Investment strategies are also available so, if you are a foreign investor, you need to fully understand the legalities and benefits of the different ownership options. So be sure to speak to your Lux expert to get fully informed.
Apartments can range from as little as US$25,000 on some of the older buildings in Phnom Penh up to luxury downtown penthouses in the range of USD$1-2 million.
For rentals, if you are looking for a small, simply old-style Khmer apartment in the major cities, you could rent from as little as US$150pm. Shared apartments between foreigners are also another option to split costs.
Couples and families looking for a minimum of 2-bedrooms can find plentiful options between US$250-1000+ per month, depending on location and amenities.
In most of the cities, you will find reasonably priced accommodation.
First of all, you will require a current Visa and passport.
Before we go any further, unless you have extensive knowledge of purchasing property or investment property in the Kingdom, you should seek the assistance of a real estate professional. The small fee incurred for this advice and execution is worth its weight in gold.
Before you purchase ANYTHING, you should conduct an ownership title search. This search will confirm who holds the title referring to the land/property and reveal any mortgages or unknown encumbrances.
Please understand that there can be hidden impediments in transferring the land/property that are not visible on the title search, such as a claim to the land/property from another local.
Also, it is essential to note that the buyer will not receive the original title deed to conduct background research, you will only receive a copy, and the document must be checked to ensure it is recent.
Foreigners can buy and invest in property and land in Cambodia.
There are four classifications of ownership in the Kingdom.
Hard Title – Soft Title – LMAP (Land Management and Administration Project) Title and Strata Title.
Land Investment strategies are also available so, if you are a foreign investor, you need to fully understand the legalities and benefits of the different ownership options. So be sure to speak to your Lux expert to get fully informed.
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