Buy or Rent Properties Siem Reap

Ancient History in Modern Surroundings 

Siem Reap is home to the world-famous temples of Angkor, now known as the Angkor Wat Archaeological Park.

The Angkor Archaeological Park is home to the last incredible remnants of the Khmer Empire that existed from the 9th to the 15th century.

Since Cambodia became known as a tourist destination, the re-birth of the famous temples has been astounding. As recent as the 2000’s only a handful of tourists could be seen in a day around the temple grounds.

With the announcement of Angkor being listed as a UNESCO World Heritage site, the average number of tourists visiting Siem Reap jumped to over 2 million per year, peaking at 2.6 million at the end of the last decade, with the province now holding around 7% of Cambodia’s populace.

Angkor is known as archaeology’s most important site in South-East Asia. To date, what has been found and protected is over 400 km2, including forested areas.

Siem Reap – The Relaxing City

With Siem Reap known primarily for tourism, it is surprising to many the demand for bricks and mortar and investment property real estate in and around the town. Through Lux, land investment in Siem Reap is now also a viable option for foreigners.

The market has witnessed a steady demand for all real estate sectors from houses and apartments for rent and sale, with a vibrant commercial sector coming to the fore.

You will find numerous hotels, guesthouses and restaurants to suit all kinds of business plans and budgets. Other businesses that thrive in the area are both directly and indirectly linked to outdoor and adventure tourism.

Suppose you are looking for an investment property, either residential or commercial. In that case, Siem Reap is undoubtedly a viable option, or maybe you are looking for a city with all amenities but without the traffic and the hustle and bustle; if any of these apply, then Siem Reap is for you.

Siem Reap – Where to go

As you would expect from a famous tourist area, you will find many hotels, resorts, guesthouses and hostels to suit all budgets and tastes, from Khmer style to Western 5-star.

Along with these come a range of commercial establishments that cater for the hospitality and tourism sector.

In recent years we have seen a significant influx of residential and commercial spaces coming onto the market. The influx has been from foreign investment, including expats who are now looking for longer-term stays and getting a foothold in the market before other significant developments start.

Naturally, Angkor Wat Archaeological Park and the surrounding area are where tourists are found and where local expats and professionals spend recreational time due to plentiful options.

The most frequented area is to be found on Pub Street next to the Old Market. Here you will find restaurants, bars and nightclubs frequented by tourists, residents and locals alike.

However, the province has plenty of other noteworthy attractions, with Buddhist temples found in several locations.

The Tonle Sap Lake is ideal for a day trip, just outside the city. The Tonle Sap area, which is known for its biodiversity, was designated a UNESCO biosphere reserve in 1997.

It is the largest freshwater lake in Southeast Asia and carries the distinction of being the only river in the world to reverse itself on its yearly cycle.

The Tonle Sap Floating Villages

The area has such a heavy UNESCO influence that it’s easy to see the business opportunities for commercial real estate and investment properties in Siem Reap.

For new residents and tourists looking to get out of town, the floating villages surrounding the lake are a great way to relax, with each village having distinct characteristics.

These floating villages depend on the lake, known as the richest fishery in Asia, for its natural resources. You can book a day trip from one of the numerous tourist agencies in the city.

Here you will find restaurants that catch your fish in front of you and a chance to interact with the local Khmers and see how life on the lake works.

The municipality also consists of the Angkor Silk Farm, Banteay Srei Butterfly Centre and the Lotus Farm.

Historical Places

For historians or anyone interested in Cambodia’s more recent past then a trip to the War Museum and the Landmine Museum will give you an insight into what happened here in recent history.

Everyday Siem Reap

Siem Reap has a multicultural expat scene and influence within the city. Although the Western expat scene cannot compare to Phnom Penh, it is diverse, offering a wide range of cultural events. Many artists and photographers have made this their home, with new galleries regularly on show around town.

The area is the food capital of Cambodia, and whether visiting or living, there is a wide range of Khmer cooking schools in the city that are a great way to immerse yourself in the country and its culture.

You will find many Japanese, and Korean expats have made their home here. Therefore, finding excellent cuisine from either country is never far away. At the higher end hotels and resorts, they now boast famous international starred chefs and guest chefs throughout the year.

In general, Siem Reap has all amenities for anyone to live as English is more prevalent than anywhere but coastal towns or islands and offers real estate options to cover all tastes and budgets.

Siem Reap Real Estate

Houses and Apartments for Rent in Siem Reap

Unlike Phnom Penh, you will not find high rise condos or office buildings due to the building restrictions found around Angkor Wat due to it being a heritage site.

Apartments and serviced apartments in Siem Reap are plentiful, though. In today’s market, you are spoilt for choice from houses for sale in Siem Reap to holiday rentals and hotels to buy and rent; there is something for everyone.

Costs

The market currently has a range from around US$150 per month up to US$2000 for apartments for rent. Of course, location and quality vary in line with these prices.

Like Phnom Penh, you will find many apartments in restored and renovated buildings and new low-rise modern condo buildings.

Serviced apartments in Siem Reap are becoming more popular as people are looking to set up business here. They are looking for a bit of luxury, sometimes as a stop-gap, while looking to buy a house or villa in.

Siem Reap has incredible colonial-style villas for rent along with new builds and houses that range between US$1000 – US$2,500 per month for luxury.

Here are some of the popular areas in Siem Reap:

• Sala Kamreuk – Is teaming with residential properties alongside mid-range guesthouses, hotels, and various commercial establishments
• Svay Dangkum – Another primarily residential area where the majority of the premium villas for rent and sale in Siem Reap are located
• Wat Bo – This is primarily a commercial area, with a scattering of residential properties and, of course, attracts visitors and tourists to the famous Wat Bo Temple
• Old Market – Pub Street If you are looking to invest in the bar, restaurant, hotel or guesthouse scene, this is the area of choice. Of course, the rentals tend to be higher in this area as it is the leading local, resident and tourist nightlife scene area
• Slor Kram – The area has its fair share of tourists in the high season, so that a shopfront may be a good idea. Steadily the area is becoming more popular with residents and expats as it is close to the city centre
• Wat Damnak – The perfect area if you are looking to buy or rent an apartment in Siem Reap. There are many commercial establishments and apartments with many serviced apartment options too
• Chreav – If you are looking at land for sale in Siem Reap, this is a rural area with many rice fields representing the best value in the surrounding area
• Bakong – Is a popular area for its floating villages, rice fields, and rural living. However, housing or apartments are non-existent, but again, if you are looking at land to buy in Siem Reap, you can find options from as little as US$6m2 up to US$30m2
• Kouk Chak – This is an exciting area. Over the past few years, apartment buildings have been developed, and there is a range of options to suit families here
• Sambor – Is also a rural area. With land for sale, if you can sit on land for a few years, this is a good area as it has access to the ring roads, and development plans are being discussed
• Old French Quarter – Consists of commercial establishments and numerous bars, restaurants, hotels and banks. If you are looking to invest, the land is expensive and apartments non-existent

Offices for Rent in Siem Reap 

As far as commercial office space is concerned, Siem Reap is way behind Phnom Penh, as most larger companies prefer to have their offices in the capital as in most countries. However, many companies do like to have second office representation in Siem Reap.

However, developments are providing businesses with more options:

• Heritage Walk Shopping Centre
• Kings Road Angkor Complex

These are both now offering commercial real estate and office space for rent and at very reasonable rates.

Land Ownership Rules in Cambodia

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.

Lux have an innovative Land Investment Service that is unique to Cambodia. 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.