A foreign website compares Phnom Penh to Bangkok 30 years ago, meaning Cambodia is lagging behind, but the country has grown rapidly in the last two decades.
Investasian.com reported yesterday that Phnom Penh has been booming, attracting international investors, with some comparing the city to Bangkok 30 years ago. Previously, the city attracted many foreign investors.
Phnom Penh also attracts foreign visitors with its vibrant street markets, magnificent French architecture and historic buildings. Due to all these factors, it has attracted investors to come and get new experiences and started to invest in Phnom Penh to get high returns.
According to the website, most foreigners are rushing to buy more condominiums and businesses in Phnom Penh for living and doing business, while Cambodia is one of the countries in ASEAN that has attracted a lot of real estate investment in the past. A few years ago.
According to the website, most foreigners buy two types of real estate: residential apartments, businesses and condominiums. Purchasing a commercial residential apartment is usually possible to repair, rent, do business and resell for a profit.
On the other hand, buying a condo is not very profitable, but it is easy to own and maintain.
However, foreigners who wish to buy real estate in Phnom Penh always have the option of buying condominiums and non-business apartments. Buying condos in Phnom Penh can be a bit expensive and in some areas. Restrictions as well. Not only that, buying a condo is not very profitable compared to buying a commercial apartment.
However, according to the law on co-ownership of foreigners living in Cambodia, buying a commercial apartment is more difficult compared to buying a condo. Foreigners can occupy the entire condo, but in order to occupy other properties, they must have a land tenure company.
Overall, buying a business home in Phnom Penh by foreigners requires a long time, patience and high commitment to purchase and repair. Buying a condo can be less profitable, but it is easier to buy and own as a foreigner.