Buying Property in Cambodia

A Simple Step-by-Step Guide to Buying Condos in Cambodia

Buying a condo in Cambodia offers great opportunities for both living and investment. This guide walks you through the basics of what you need to know when buying property in Cambodia.

Smart Steps to Own Your Dream Condo in Cambodia

Want to make a smart real estate investment in Southeast Asia’s fastest-growing market? Cambodia’s property market offers amazing chances for buyers in 2024. Prices are rising fast, but they’re still much lower than in places like Bangkok or Singapore.

Did you know that buying a condo in Cambodia is totally legal for foreigners? Yes – you can own a condo 100% in your name through strata title. And with new buildings going up all over Phnom Penh, Siem Reap, and Sihanoukville, now’s a great time to buy.

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Editor’s Note: This guide was last updated in December 2024 by our team of local real estate agents and legal experts in Cambodia. We keep it current with the newest property laws, market prices, and buying rules.

Quick Guide – Key Things to Know:

  1. Foreign ownership rules: You can own condos above ground floor through strata title
  2. Property registration process takes 2-3 months on average
  3. Extra costs include 4% transfer tax and annual property tax
  4. Most property developers accept 10-30% down payment
  5. Top areas: BKK1, Tonle Bassac, and Russian Market in Phnom Penh
  6. Average rental yield: 6-8% per year
  7. Must check building permits and developer track record
  8. Property management services help with tenant finding and maintenance
  9. Local bank account needed for transactions
  10. Good investment returns possible with rising property values

Understanding Ownership Rights in Cambodia

The first thing to know about property ownership in Cambodia is what you can and can’t buy. Foreigners can’t buy land, but they can own condos. This rule comes from the 2010 foreign ownership rules.

Here’s what you can buy as a foreigner:

  • Condos above the ground floor
  • Office spaces with strata title
  • Units in buildings built after 2010
  • Properties more than 30km from borders

Here’s what you can’t buy:

  • Ground floor units
  • Land
  • Houses
  • Traditional apartments without strata title

The property market in Cambodia works with two types of titles:

  1. Hard title: The strongest and safest type
  2. Soft title: Common but less secure

For condos, you’ll need a strata title. This special type of property document gives you full ownership rights.

Cost and Payment Guide

Let’s talk about money. Here’s what you’ll pay when buying a condo:

Main Costs:

  • Purchase price: $40,000 to $500,000+
  • Transfer tax: 4% of property value
  • Stamp duty: Around $100-200
  • Legal fees: $500-2,000
  • Property registration fees: About $1,000

Extra Yearly Costs:

  • Property tax: 0.1% for properties over $25,000
  • Building maintenance fees
  • Insurance
  • Utility costs

See current prices on our property listings

Finding the Right Property

Smart ways to find good condos:

  1. Work with trusted real estate agents
  2. Check property features carefully
  3. Visit multiple units
  4. Compare market values
  5. Research the area

What to check before buying:

  • Building permits
  • Construction quality
  • Developer’s history
  • Building amenities
  • Nearby facilities
  • Future development plans

Talk to our expert team about your needs

The Buying Process Step by Step

  1. Property Inspection A good first step is to check the condo in person. Bring a flashlight. Test all switches. Turn on taps. Open windows. Look for cracks or water marks. Make notes about what you see.
  2. Due Diligence Next comes paper checking:
  • Ask for the building permits
  • Look at the strata title
  • Check the property deed
  • Read the building rules
  • Get proof of the property ownership
  1. Making an Offer Once you like a place:
  • Put down a booking fee
  • Sign a booking form
  • Get a sale agreement
  • Pay the first amount
  1. Payment Steps Most buyers pay in steps:
  • 10-30% as down payment
  • Rest in small bits over time
  • Final payment at handover

Setting Up Banking

You’ll need a local bank account. It’s easy to set one up:

  1. Pick a bank (ABA is good for foreigners)
  2. Bring your passport
  3. Show proof of address
  4. Make a small first deposit
  5. Get your bank card

Getting Help From Experts

Smart buyers work with:

  • Real estate agents who know the area
  • Lawyers who check papers
  • Bank staff who help with money
  • Property management teams

Our team can help you through each step

Making Money From Your Condo

Many buyers rent out their condos. Here’s what to know:

  • Rental yield is often 6-8%
  • Good tenant management matters
  • Use property management services
  • Keep up with maintenance
  • Plan for yearly costs

Tips For New Buyers

  1. Start Small Try a mid-size condo first. Learn how things work. You can buy more later.
  2. Check Everything Look at:
  • Water pressure
  • Air conditioning
  • Power outlets
  • Noise levels
  • Sun direction
  1. Know Your Rights
  • Read up on property laws
  • Learn about buyer rights
  • Ask about building regulations
  • Check your ownership certificate
  1. Plan Ahead Think about:
  • Future area growth
  • New train lines
  • Shopping centers
  • Schools
  • Hospitals

See our full range of properties

Ready to start your property journey in Cambodia?

Our team is here to guide you through each step

Contact us today for expert advice on buying your ideal Cambodian condo.

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