Is land Property Best Choice for Real Estate Investment in Cambodia?
Cambodia’s real estate sector has over the last 10 years experienced strong growth, which helps to contribute significantly to boosting the kingdom’s economy. The growth in this sector has made some people in the kingdom become rich thanks to their smart investment and opportunity to take advantage of this industry.
But how to invest in a smart way and what real estate types are better for investment to get high profits in the short and long run? Is it land property, houses or condo the best choice for real estate investment in Cambodia?
Regarding this question, Ms. Tang Hour, CEO of Amatak Property Service, said, “all real estate investments whether it is land, houses or condo have the potential to gain high return, but if you invest in land property, there is a high chance to get good return on investment because land property can be subdivided into plot land and used to build all types of buildings such as Borey, condo and other commercial centers.”
Currently, land property is the most popular real estate types among Cambodian people because it is limited, easy to buy and sell and not as competitive as other property types.
Ms. Tang Hour added if you want to invest in land property, you need to think of the most potential locations and the speed of development in the area. Currently, all suburbs of Phnom Penh capital are experiencing remarkable housing development growth combined with the government’s infrastructure support. This makes land property in the suburb, especially along NR.1, 3, 4 and 6 most attracting for real estate developers.
Meanwhile, Mr. Sok Kimeng, General Manager of Sovanna Phum Real Estate, said, “investment in land property has the potential to gain more profits than other property types because land in some areas, particularly in the outskirts and provincial towns adjacent to Phnom Penh, is still affordable and you can buy and sell it later for a profit.”
Although land investment takes a bit longer time to make profit, the chance to get return is quite high. Based on his experiences in the real estate sector, Mr. Sok Kimeng explained that the investment in land, houses or condos can yield different return, depending on your financial resources.
At present, due to the adverse effect of the prolonged covid-19 pandemic on the economy, some land properties are on sale below the market price between 10 and 20 percent. This is a good time for those with sufficient money to buy now and sell later for a good profit during this period.
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