There are many countries where you will be benefited by investing in properties. In Cambodia, you can invest in many properties to gain success as well as money in the real estate business.
Vital info – Before investing in a Cambodia property, you have to know the rules and regulations of Cambodia. It is a fact that the State Constitution of Cambodia doesn’t allow foreigners to buy land in Cambodia. No matter who you are and how much money you are willing to invest, this rule is for all. But, many properties were made earlier, where foreigners can invest their money. Either you can buy a house for rent in Siem Reap or build a home to sell. You can get such condominiums in Phnom Penh’s capital city. You will also get such types of properties in tourist spots, such as Sihanoukville, Siem Reap.
Best places to look for – In Cambodia, you have to look for certain places where foreigners can invest in properties. You can have a look at the Siem Reap’s tourist destination, Sihanoukville’s beachfront resort, Phnom Penh’s capital city. Additionally, you can visit Tuol Kuork as well as Russey Keo districts and even Boeung Ken Kang located in Chamkar Mon district. Keep these things in mind while looking for a land for sale.
More rules – Just like others you will feel that you can buy a full condominium even being a foreigner, but that’s not true. The owners of condos don’t sell the ground floor portion to the foreigners ever. Foreigners can only get at least 70% of one condo. The developer will continue to sell you a condo as long as it’s 70% limit is not reached. For instance, you may like a flat at the 18th floor, but you cannot buy it as it is not within the limit of 70% anymore.
Select great projects – If you want to buy a property in Cambodia, so that you can give it on rent, then you must buy a property which is secure and is present in a gated community. There must be 24X7 security in the area.
Money time – Riel is Cambodia’s official money and the US dollar is its unofficial money. You can use your US dollar to buy properties in Cambodia. Even with US dollar you can do your shopping, fill your empty tummy with delicious food and so on. You can buy furniture by giving US dollars, though for buying other things you have to pay in Riel only. This is the truth!