Phnom Penh’s condo market has been volatile and in a bubbly phase, mainly due to speculation and high supply. ...Read more
Phnom Penh’s condo market has been volatile and in a bubbly phase, mainly due to speculation and high supply.
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Australians are treated in the same way as other foreigners and have no issues buying strata-titled (condominium) units without the need of setting up holding companies or to partner with local nominees. Read more
Australians are treated in the same way as other foreigners and have no issues buying strata-titled (condominium) units without the need of setting up holding companies or to partner with local nominees.
Read less(All money in USD) Stevo and I earn less than $35,000 combined annually. We recently moved to a 1-bedroom apartment in a western-style building east of the Russian Market, one of the more popular expat areas. For us, the cost of ...Read more
(All money in USD) Stevo and I earn less than $35,000 combined annually. We recently moved to a 1-bedroom apartment in a western-style building east of the Russian Market, one of the more popular expat areas.
For us, the cost of living in Cambodia is pretty cheap. We only pay $400 per month in rent (including utilities) plus $50-$80/month for electricity. Our rent includes housekeepers who come twice a week.
Previously we lived in a 3-bedroom Cambodian style apartment for $350 per month on the west side of the Russian Market. There we paid $75-100 for utilities (trash collection, internet, water, electricity) and $40 for a housekeeper who came twice per week.
We eat at restaurants about four to five times per week ($5-15 per meal for two). Cooking a majority of our meals at home with produce bought from a local outdoor market in Phnom Penh and meat from “western-style” grocers helps to keep our cost of living in Cambodia down.
We go to events around the city several nights per week. We both go to a gym in Phnom Penh. Stevo does cross-fit , and I do yoga . If you’re looking for a cinema, Phnom Penh has many to offer. From laidback independent movie houses to one of the few 4DX screens in the world, you’ll definitely be able to get your movie fix.
Because of the cheap cost of living in Cambodia, we can afford to travel around Cambodia about once per month to Kampot, Sihanoukville, Siem Reap, and other provinces in Cambodia.
We have taken trips around the region to Thailand Myanmar Vietnam Malaysia , the Philippines Singapore Taiwan , and Laos , and are planning for more international travel.
We live better and feel happier than we did back in our hometown in southern California. Our life in Phnom Penh is simple, fulfilling, and never dull.
Eating deep-fried tarantulas, some of the best food in Phnom Penh, at Romdeng , one of our favorite restaurants.
What is the Real Cost of Living in Cambodia?
Source: twocantravel.com
Read lessPhnom Penh is divided into districts. A majority of expats live in BKK 1, 2 or 3, Russian Market, or by the Riverside. BKK 1 and 2 tend to be more expensive with restaurants, bars, and shops geared toward expats. ...Read more
Phnom Penh is divided into districts. A majority of expats live in BKK 1, 2 or 3, Russian Market, or by the Riverside. BKK 1 and 2 tend to be more expensive with restaurants, bars, and shops geared toward expats. BKK 3 (near the Tuol Sleng Genocide Museum) and the Russian Market have a good blend of western and local amenities.
The Riverside area tends to be crowded with tourists and can feel seedy due to the lady bars and nightclubs in the area. However, it is close to many restaurants, shops, and attractive tourist sites.
Another area of the city growing in popularity with expats is Tuol Kork, located 20-30 minutes from downtown. Phnom Penh is expanding outward, and the further outside the city center you go, the lower your cost of living in Cambodia is going to be.
Read lessBuying Property in Cambodia: The Definitive Guide Do you plan to buy property in Cambodia? It’s also the last frontier country in Southeast Asia where it’s comparatively easy to start a business. With that said, being a developing country, things are done differently ...Read more
Buying Property in Cambodia: The Definitive Guide
Do you plan to buy property in Cambodia?
It’s also the last frontier country in Southeast Asia where it’s comparatively easy to start a business.
With that said, being a developing country, things are done differently compared to what many foreigners are used to.
Before you engage in Cambodia’s property market, it’s important that you learn about ownership regulations, property options available, where you should buy property, and more.
Source: asiapropertyhq.com
Can foreigners buy property in Cambodia?
Cambodia’s property ownership regulations are similar to those in Thailand and many other Southeast Asian countries. Here, foreigners can only get freehold ownership of strata-titled properties (mostly condos) and aren’t allowed to own land.
Similar regulations apply in the Philippines, Vietnam, and Thailand, just to give you some examples. As read in Article 16, “Amended Law on Investment”, persons with Cambodian citizenship or Cambodian entities have legal rights to own land.
It’s simple as that. But there are ways for foreigners to buy and at least control land.
Source: asiapropertyhq.com
Buying Land in Cambodia
You can buy land in four different ways in Cambodia. The process is not risk-free, nor easy if you’ve never engaged in the Cambodian property market.
Therefore, I highly recommend you to hire a reputable property lawyer and real estate agent earliest possible that can guide you through the buying process.
Let’s look at the four different options you have when buying land as a foreigner.
Source: asiapropertyhq.com
1. Buying Land Through a Cambodian Company
This is probably the safest option to buy land in Cambodia. It’s recommended in many other countries, including Indonesia . Bear in mind that the process to set up a company does require a bit of capital and time.
As foreigners can only own 49% of company shares, assure that you set up the company with partners you trust.
Despite being a minority shareholder of the company, you will be able to control the ownership of the property by using different contractual setups.
It’s crucial to do due diligence and appoint a property lawyer to help you through the process.
Source: asiapropertyhq.com
2. Setting up a Leasehold Agreement
Foreign investors can lease land for a period of 15 to 50 years.
Sometimes, you’ll be able to extend the lease up to 50 years. If the state owns the land, the maximum lease period is 40 years.
Keep in mind, one of the most important tasks to manage before entering a leasehold agreement with a landowner is to check the title.
The title includes information about:
Your rights to control the property
Your rights to sell or rent out the property
If there are any encumbrances or mortgages since previous ownership
Source: asiapropertyhq.com
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