House For Sale In Siem Reap
House For Sale In Siem Reap
The Siem Reap province is located in the northwest area of the country, along National Road No. 6, about 314 km from the capital city. Siem Reap is one of the three country’s major economic areas. The other two areas include the Phnom Penh Commercial City and the port city of Sihanoukville. Siem Reap is also home to the world’s famous tourist destinations known as the Angkor Wat temple.
What are the types of House For Sale In Siem Reap?
Currently, the residential sector in the province is rapidly growing, with inbound tourists numbers increasing year to year. This increase has contributed to the sprouting of different types of housing such as boreys, shophouses, apartments, villas, and condominiums.
Each type of housing is different in terms of physical specifications, living conditions, and functional use to satisfy the local and foreign market demands.
Borey Homes for sale in Siem Reap
What is a Borey?
A borey is a type of housing project that is popular for Khmer standard of living, and is available for both middle and upper-class people. This type of residential development is also a good investment for developers in the country because Boreys in Siem Reap are generally located in commercial areas, close to the market.
A Borey development that is secured as a gated community. It includes single villas, twin villas, and flat houses. Borey developments also have a range of properties that serve the needs of individuals and families. For example Borey Angkor Palace, Borey Nagara and Borey Brem Brey where rank anywhere from 1 to 4 bedrooms and the starting price is $60,000. It also offers public areas, like gardens and children’s playgrounds.
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Shop house for sale in Siem Reap:
What is a shophouse?
A shophouse is like a flathouse, a linked house, or a townhouse. Shophouses are mostly two or three stories high with a shop on the ground floor for mercantile activity and a residential space above the shop. The shophouse units are usually around the 4×16 to 5×20 sqm size and the price rank from $60,000 upward.
Normally, a shophouse is to serve a business purpose. This type of house is a good investment choice for those who wish living and running a business at same place. However, shop houses usually do not have a garden or front yard, but a small outdoor space behind the home. They generally don’t have a standalone fence for security, but feature a very secure front and back entrance, and protective steel bars. Although,parking space is usually not included in the basic shophouses, many shophouse owners park their motorbikes on the ground floor.
Are there different classifications for a shophouse?
When it comes to purchase a shophouse, buyers can chose between a Khmer style, or modern one. A Khmer-style shophouse has a traditional design which is focused on a vernacular architectural construction. Modern shophouses instead, have adapted a more contemporary and western design. It’s hard to spot the difference from an external viewpoint because some western shophouses are renovations of the Khmer style ones, and often are in the same buildings.
Villa house for sale in Siem Reap:
What is a Villa?
A Villa is a type of private and luxurious residence in the province. A villa is different from regular houses because it is a detached townhouse that also offers yard space. There are different types of villas such as a hybrid, twin, and single.
What makes a villa an attractive place to live in?
Siem Reap is a place surrounded by nature: it offers trees, greenery, gardens, a good airflow and low pollution due to the limited traffic. Villas therefore, are the perfect choice for nature lovers and those aiming to find ultimate privacy. Villas for sale are generally available from $150,000 – $230,000, depending on their location.
Another factor to take in consideration is the long term prospective of the investment: Siem Reap is one of the main tourist destinations of Cambodia, bringing millions of tourists every year. For instance, according to Apsara Authority report there was more than two million visitors in Siem Reap every year.
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Condominiums for sale in Siem Reap:
What is a condominium?
Condominium units exist within a tower building with a number of residents. Individual unit owners share ownership of the common areas in a condominium. These include the recreation rooms, playgrounds, gardens, and also the courtyards. Common areas can be used by anybody residing in the building. But the individual condo units remain the private ownership of the residents. Condominiums usually have staff on-site to assist the needs of the unit owners. Condominiums also offer security features and shared parking areas.
What makes condominiums attractive living spaces?
Condominiums is a great choice for a first house since it offers many amenities and management-facilitated services which save money, time, and efforts of the owners. Generally, condominiums are located in the inner city, near the commercial hubs. Condos usually offer great views, and feature fresh air and cool temperatures.
Even if condominium units have just a wall separating you from your neighbors, this type of housing is still more private than a standalone home and will also have added security services. Maintenance fees and association dues will, however, be charged to all residents to manage common areas. Lastly, condominiums usually have many internal regulations and may have restrictions in regards to the restructuring of the unit.
Are there a lot of condominiums in Siem Reap?
There are currently only three to four condominium projects in Siem Reap with starting price at at around $50,000 per unit. These units start from 2 bedrooms upward, covering 600 to 700 square meters in total. Those projects include the Angkor Oasis Condominium and the Inter Angkor Condominium which are located along National Road No. 6 & Sivatha Boulevard, respectively.
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Where do locals and foreigners prefer to live in Siem Reap?
Cambodians won’t have any troubles living in Siem Reap, it’s just a matter of deciding on preference and needs. But for foreigners, there are two main areas they are likely to settle down. Asian tourists such as the Chinese and South Koreans, prefer to live in the west side of the Siem Reap river due to the high concentration of tourist companies, restaurants, bars, stores, and souvenir shops.
Europeans or westerners in general, prefer living on the eastern side of the Siem Reap river because the residential areas are mainly located in green areas, integrating homes with nature.
If I buy a house in Siem Reap for investment in which area should I buy?
Mr. Sok Sarath, a real estate agent in Siem Reap, suggested that those buying to invest, should consider the area around the ring road. According to Mr Sarath, this area with the most potential whether for living or investing. Other areas worth of investments are the Central and Upper Market.
Why should one consider to invest in Siem reap instead of Sihanoukville or Phnom Penh?
The biggest incentive for investors to invest in the province lies in its land prices. They are significantly lower compared to the land prices in Phnom Penh. The population is also relatively low, creating an environment of tranquility suitable for those wanting to escape for the chaos of big cities. Moreover, the province has also seen an increase of businesses such as hotels, restaurants, private clinics and schools, resulting in a perfect place for families.
Where are the most developed areas in the town?
Mr Sarath suggested that the number of houses for sale in Siem Reap is rising inside the ring road area of the city, especially along main roads such as Sivatha Boulevard, Charles de Gaulle Street and Route No. 6 . This is because of the continuous growth of both domestic and international tourism.
In the meantime, new entities such as construction material and agricultural companies have turned up along Road No. 6 to the Prasat Bakong district, toward Phnom Penh.
Is Siem Reap flood-proof?
Residents of Siem Reap don’t seem to worry about flooding. In recent years, there have been no floods in the area. However, if you are going to buy a house on the ground floor, double check with the previous owner and neighbours whether or not your new home is prone to flooding.
How is the Infrastructure in Siem Reap?
Roads Infrastructure:
Siem Reap infrastructure is developing rapidly: roads are interconnected to different areas of the province which is key for the development and expansion of the city.
The roads of Siem Reap also connect to a number of different temples of Siem Reap, Phnom Penh, Battambang, Kep and Kampot, Sihanoukville, and Kampong Cham. Road links between the provinces benefits the real estate market in Siem Reap.
Public Service Infrastructure:
For families looking to settle down in Siem Reap, there is an increasing number of international schools being offered, which in turn are are rising the educational standards at impressive rates. Healthcare is developing too; Siem Reap has a number of international standard hospitals and clinics – including the international standard Thai-managed Royal Angkor International Hospital, which is affiliated with Bangkok Hospital Medical Center, offering services for locals as well as expats.
How is Food and Entertainment in the town?
Siem Reap offers a great mix of cultures and flavours from all over the world.. The area is filled with Khmer, European, Chinese, Korean, Japanese, Thai, Indian, French, and other international restaurants. These are available, especially on Pub Street — a place that is reminiscent of the cities of Europe.
Other than street food, the city offers many places for entertainment:pubs, bars, karaokes, and clubs where people can enjoy talking, drinking and, dancing.
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Source: News – Real Estate Cambodia