Buy or Rent Apartment Blocks in Cambodia

Buy or Rent Apartment Blocks in Cambodia

Due to the current economic climate at LUX Realty, we see more apartments and apartment blocks coming onto the market.

Categorising Apartments

Apartments are classified as individual housing unit(s). Typically, in the Kingdom, apartments constitute two to three units per floor.

A ‘Flat’ is a term relating to an apartment on a single level. As in many cases, the units are conversions within an older building or big house.

An apartment falls into large-scale public accommodation and owned properties such as condominiums with strata titles with individual tenants that rent from a private landlord.

Of course, it refers to separate apartments, unlike apartment blocks that can be purchased and renovated. Typically, both have front entrances with standard facilities such as kitchens and bathrooms.

The more recent apartment buildings in Phnom Penh has been designed and categorised as ‘mixed use’. With residential accommodation above leading to facilities on the roof such as a pool, gym, rooftop bar, and restaurants. Whereby the buildings also consist of offices and other commercial services, typically on the first few floors.

The demand for condos and apartments from the expat community has grown exponentially in the past decade. In 2013 the demand way exceeded the supply, and that was where we saw in the space of 24 months vast amounts of apartments blocks and condominiums being completed and has continued unabated until this day, but the demand is still increasing.

With Cambodian law being easier for Westerners to conduct business than its neighbours, we do not doubt that this is the gem of Asia for this kind of investment and see very little reason for concern of a downturn or downside.

Cambodia has seen little slow-down in its ongoing construction boom through 2020-2021, unlike other countries that have grounded to a halt.

Owning an apartment block in Phnom Penh, Siem Reap or Sihanoukville will provide a foreign investor with a steady long-term income and requires relatively minimum management. There are plenty of local companies that we can suggest that would be happy to take on management and maintenance work at minimum cost.

As you can see on our page, we are starting to see entire apartments building coming onto the market for sale or rent across the country.

We also have apartment blocks for sale and rent in Siem Reap and Sihanoukville.

All these areas will be profitable as we expect Cambodia’s economic and real estate market to start following the upward trend we saw for a decade between 2009-2019 again soon.

Please make no mistake the global economic downturn has affected businesses of every kind. Still, as always in adversity, opportunities presents themselves and at attractive prices.

Anyone who likes to invest in the stock market when stocks are falling, where the next person would be petrified, can see the opportunity in adversity combined with value. This is similar to apartment block purchases but offers a safer, more secure, and steady way to enhance your wealth.

Apartment buildings are not bought over a phone call or by looking on a website. We are a full-service company. We like to get viewings for our clients and work through a profiling system of what kind of revenue you are looking for, what theme, style or design you have in mind, and how you are looking to structure your marketing. As here at Lux, we can assist on all these fronts.

We work closely with several companies in the country that can help bring ideas and assist you in making the most from this type of investment, satisfying both you and your occupants.

Contact Lux today for detailed information and statistics about purchasing or renting an apartment block in the Kingdom.