Among the numerous real estate properties you can buy, investing in land remains to be the best investment you can make. Not only is it a scarce investment among numerous reasons to buy land in Cambodia, but it is versatile since you can turn it into whatever venture you want.
However, not all land is the same since some of them can only be used as is while others can be used for development projects. So, if you want a land that can be buildable now or in the future, you need to know how to differentiate it. Here are the curated tips to know if a land is buildable, continue reading below!
1. Check land regulations
The first thing you need to check if the land is buildable, is to see what the land regulations are like in Cambodia. While it’s clear that regulations on land in the country depend on what type of land it falls under—state (public or private), private, and communal land—there can still be restrictions imposed that will prevent you from building on it.
For example, what are the zoning codes within that particular area you need to follow, does it fall under the Special Economic Zone (SEZ), or is it in a protected area? Moreover, even when you buy land intended for commercial or residential purposes, the area it is in can have specific regulations that you need to follow. So, it’s important to check what the land regulations are to ensure that you buy buildable land.
2. Check if it’s accessible
If you’re building a project on land, the key thing is to ensure it’s accessible by your potential clients or customers. Make sure that major roads within the area connect or pass by the land you’re eyeing, or there’s a way that allows you to easily go to it. Since Cambodia is a developing country, while it has made massive strides in recent years, there are still some areas that are not fully within reach so you need to always do your due diligence.
3. Conduct due diligence
Similar to buying or renting other real estate properties, when you want to buy land, you need to do your due diligence to check if it’s buildable. One way to do this is to do a title search which will tell you more than just who owns the lot but the restrictions it has as well as easements.
4. Check recent land developments or news in the area
While the land laws in Cambodia are strict, the buildability of land is not set in stone and vice versa. In short, a land that cannot be used for development purposes can suddenly be used depending on other land developments or news within that area. For example, a land is only unbuildable due to accessibility issues to it and there’s no irrigation system set up. However, if the land becomes accessible due to recent major road work and a developer sets up an irrigation system, then it’s possible to launch development projects there.