Phnom Penh, the bustling capital city of Cambodia, is quickly becoming a hotspot for ex-pats looking to live and work abroad. Owning a condo in this vibrant metropolis offers a range of benefits that make it an attractive option for those looking for a new home. Phnom Penh has everything from the low cost of living and luxurious amenities to the convenience of city living and access to a vibrant ex-pat community. Moreover, the condo for sale in Phnom Penh can be quite useful.
With stunning city views and modern, comfortable homes, ex-pats can enjoy the best of both worlds: a low-maintenance lifestyle in a dynamic and culturally rich environment. So, why wait? Make Phnom Penh your next home and experience the many benefits of owning a condo with IPS Cambodia in this exciting city!
Can Foreigners Own a Condo in Phnom?
Foreigners and non-Cambodians can legally own the condominium in Cambodia. However, you need to have the title of Strata Titles to own the properties. The title is recognised nationally, so people can easily own a condo in Phnom.
The process of owning a condo in Cambodia will also largely depend on the nationality and developer you have. You can work with a real estate agent to help you in the process of owning a condo.
If you’re planning to own a condo in Phnom, you must also know about its benefits. You can find various condos for sale in Phnom Penh.
Some of the major benefits of owning a condo in Phnom are as follows:
- Healthy and Fresh Environment
The condos are usually located in high-rise apartments. Living on the higher floors allows you to breathe fresh air and watch the open view of the city. Moreover, these condos in Phnom are equipped with all the amenities of modern living.
- Time Saving
The traffic in Phnom Penh is increasing tremendously with each passing day. Therefore there are always traffic jams. Living outside the city or on the outskirts can be quite problematic for travelling daily. The condos for sale in Phnom Penh are located in the middle of the city, with proximity to banks, business centres, cafes, offices, and more. Therefore, you don’t have to worry about being late for your office.
- Vacation Home
The condos are good vacation homes. Most people living in flats or villas prefer getting a condo as a home vacation. Moreover, condos can be quite beneficial for entrepreneurs as they also serve as a nice office place.
- Perfect Place for Investment in Southeast Asia
The condos in Phnom Penh are extremely good investments. Although Cambodia has a rising real estate market, the prices of real estate properties are quite reasonable. There is no flashy sales technique; therefore, you can expect affordable deals. You will likely experience the madness of living in Southeast Asia at an affordable rate.
- International Groups are Moving Here
Various multinational groups are establishing their business centres in Phnom Penh. The city perfectly balances the corporate structure and local business activities. International groups are establishing their presence in this region, helping to expand the footprint.
- Tourism is at Peak
Tourism is at its peak in Cambodia. If you own a condo in Phnom Penh, you can put it out for rent for travellers or people who want a short-term home. You can get good returns when you own the condo. Apart from condos, Phnom Penh has plenty of boutique villas and various amenities. Airbnb in this region is optional. Since tourism is at its peak, you can get nice returns when renting the place.
Most of the condos are under Housing Associations. Therefore, owning a condo is more affordable than purchasing a home. If budget is your problem, you should definitely choose condos. At an affordable rate, you can get a wide range of amenities. Condos usually help in generating more income apartments. Furthermore, you may also be able to enjoy tax deductions.
Condominium communities have 24*7 security. The management keeps a check on safety and security. The management representatives and security will always be around to keep an eye on the neighbours. Therefore, you don’t have to be worried about it.
The condos are equipped with a wide range of amenities like gym and swimming pools that will be impractical to have in the house. Besides, many condos will also have other amenities, such as tennis courts, golf courses, and more.
Condos are quite accessible. They have a very welcoming community. You can be safe with the knowledge that there’s security available. Furthermore, they have an onsite management company to handle any problems.
Owning a condo in Phnom Penh offers ex-pats a unique opportunity to experience a new culture while still enjoying all the comforts of modern living. The city’s low cost of living, luxurious amenities, convenient location, and vibrant ex-pat community make it an attractive option for those looking for a change.
Working with a reputable real estate company like IPS Cambodia is essential to ensure a smooth and successful transition to your new home. You can check out the condo for sale in Phnom Penh. With their extensive knowledge of the local market and commitment to customer satisfaction, IPS Cambodia can help you find the perfect condo in Phnom Penh and make the most of your new life abroad.