Things You Should Avoid When Buying a Property in Cambodia

Cambodia is a kingdom of wonder. It is lush green and has adventurous scenery.

If a foreigner plans to buy a property in Cambodia, here are a few things he should avoid.

 Avoid the following things before buying a property in Cambodia

• Old or expired passport and Visa will not be accepted if you wish to purchase real estate.
• Avoid blindly signing a property; one must always conduct a title search about the owner of the property, since it could be fraudulent. The property may have encumbrances or mortgages.
• It is advisable to purchase Soft-titled properties since they can be converted into hard ones. They have fewer procedures, government fees, and tax work compared to the latter. Only 10% of properties in Cambodia have hard titles.
• Cambodia has a great variety of locations. It has busy cities, locations at the ocean and country sides. Be sure of the location you wish to live in, before jumping into a purchase.
• Check the climatic conditions you wish to live in. Some cities have four seasons every year and others have only two. Avoid locations that do not suit you.
• Avoid buying land and leaving it unused. It will be taxed at a high market price rate of 2% each year.