Buy or rent properties in a borey in Cambodia. Look through our listings below.
Boreys are gated communities that contain a range of housing.
With so many different housing types, it gives the buyer a wide range of preferences for square meterage, floor areas, number of rooms and, of course, varied prices that suit a range of professionals, families and business owners.
Depending on the development size as a whole, some Boreys may have additional amenities such as playgrounds for children, retail stores, and markets. The extra allure of a Borey is the security aspect, usually 24-hour with private security and necessary infrastructure.
The Khmer communities income brackets measured the market value of Boreys in the past, but in recent years the dynamic has changed as many foreign nationals are looking for this kind of lifestyle.
With Khmers now starting to make increased salaries with the recent domestic economic boom, higher-grade housing is in demand more and more every year.
Borey land prices have been growing steadily for a decade before the recent pandemic, but here lies a great opportunity where the market has seen a correction, and prices are now even more attractive.
With this statistic alone, the answer is Yes. Here at Lux, we fully expect Cambodia to return to pre-pandemic economic and real estate growth.
Few projects have slowed down or stopped. The country is focused on expanding and attracting more foreign companies to come to Cambodia, creating better-paid jobs for Khmers and bringing in high paid foreign workers.
We were looking at Borey’s holding an average price of around US$700-715 per square meter in 2018. In 2019 it jumped to around US$930-940 per square meter, a considerable increase in any global market.
With outward expansion, Boreys bought now closer to the city, will see the upward trend we saw between 2018-2019 again in the next few years.
Cambodia’s Capital is the obvious place to start. There are many Boreys in Phnom Penh.
You will find some Boreys now considered (in the city), such as a number in Chroy Changvar just leading up National Road 6, as they were built long before the construction boom when Chroy Changvar was considered out of town. Now, most of the Borey’s are in new up and coming districts like Sen Sok.
It is common for Boreys in prominent places such as Siem Reap, Sihanoukville, Battambang, and Phnom Penh that new developments are mainly on the outskirts; very few are built in the inner cities, the land is at a premium and expensive.
Boreys require large tracts of land and with the countries towns turning into cities this kind of land is not available anymore. So the developers look to build on the outskirts near main highways for access and the local market closer to the industrial factories for the worker populations.
A Borey developer looks to buy cheap undeveloped farmland, lay the foundation for a mini-community infrastructure, and bring business, facilities, and amenities to make them self-sufficient but with access to the city or town.
Therefore, the developer buys cheap land, offers the properties off-plan at more affordable prices, transforms the land, and the value drastically increases.
Boreys represent an intelligent investment, or for those willing to travel into a city to work, an excellent place to consider for a home.
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