Foreigners Guide to Buying a Property in Cambodia
Cambodia is a country of enchanting historic architecture and lush green, adventurous scenery.
If a foreigner plans to buy a property for sale, here are a few tips.
Guide to buying a property in Cambodia
- A current passport and visa are mandatory if a foreigner needs to buy a property in Cambodia.
- Foreigners cannot hold property on the ground floor. They can only own properties on the first floor or above.
- If a foreigner wants to own a private property title, in conjunction with a national, then he can own 49% of the property. A share of 51% or more must be owned by the Cambodian national.
- Before 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.
- Apartments can be purchased on a long term lease of 10-15 years. A lease can be assigned, sold or inherited, making it a beneficial option.
- Although hard-titled properties are considered the most secure, the soft-titled one has its benefits.
- Soft-titled properties 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.