Average Price of Residential Properties in Siem Reap
|
Residential Property Size
|
Avg. Price for Sale Property in Siem Reap
|
Avg. Price of Siem Reap Property for Rent
|
|
Studios
|
40,000
|
$200
|
|
Apartments 1 Bedroom
|
$110,000
|
$450
|
|
Apartments 2 Bedroom
|
$180,000
|
$600
|
|
Apartments 3 Bedroom
|
$$240,000
|
$1600
|
|
Apartments 4 Bedroom
|
$360,000
|
$2,800
|
|
Houses
|
$150,000
|
$500
|
|
Condominiums
|
200000
|
1200
|
|
Villas
|
$400,000
|
$1000
|
Siem Reap Commercial Properties
As we venture into the world of commercial real estate in Siem Reap, it's essential to understand the diverse opportunities that this dynamic market offers. Here, we explore the spectrum of commercial property types, their characteristics, and how they cater to various business needs.
Multifamily
- Ranging from duplexes to large apartment buildings.
- Primarily for investment purposes.
- Varies in size and unit capacity.
Office Spaces
- IPS Cambodia has many options for those looking for office spaces, from small, shared spaces to large office buildings in Siem Reap.
- Many office buildings come with modern amenities like high-speed internet, conference rooms, and parking facilities.
Industrial
- Various sizes, including heavy manufacturing, light assembly, flex warehouses, and bulk warehouses.
- Tailored to specific industrial applications.
Retail Spaces
- Siem Reap's retail sector is thriving, and there are plenty of opportunities for entrepreneurs looking to start their businesses.
- IPS Cambodia retail spaces come in a variety of sizes, and the city's bustling markets and shopping centres are perfect for attracting customers.
Hospitality Properties
- With Siem Reap being a popular tourist destination, the hospitality sector is booming.
- IPS Cambodia offers from small guesthouses to large hotels and shophouses, there are plenty of options for those looking to invest in the hospitality industry.
- Siem Reap's growing tourism industry makes it an attractive option for investors looking for long-term gains.
Mixed Use
- Combine various property types like retail, office, residential, and industrial in one space.
- Commonly seen in high-rise downtown buildings.
Land
- Different types of land available, including greenfield/agricultural, infill, and brownfield land.
Special-Purpose
- Encompass a wide range of unique assets like amusement parks, theaters, and more.
Siem Reap's commercial real estate market offers diverse opportunities for businesses, from retail spaces to specialized properties. It's a vibrant market with options suitable for various investment and business needs.
Average Price of Commercial Properties in Siem Reap
|
Commercial Property Size
|
Avg. Price for Sale Property in Siem Reap
|
Avg. Price for Rent Property in Siem Reap
|
|
Retail Spaces
|
$1500/m2
|
$10/m2
|
|
Office Spaces
|
$1500/m2
|
$10/m2
|
|
Hotels/ Guest Houses
|
$1.6mill
|
$3,500/month
|
|
Shophouses
|
$200,000
|
$6009
|
Most Popular Areas in Siem Reap for Buying or Renting Properties
Siem Reap has several areas for renting or buying real estate. But the top 5 most popular place in Siem Reap for rental or purchase of properties are:
Sala Kamreuk
- Sala Kamreuk is a popular expat area where most residential properties, hotels, and commercial establishments are located.
- Flats/ Apartments for rent in Sala Kamreuk can range from $200 - $1500/month, depending on the number of rooms, quality of setup, and furnishings.
- Prices of land can range from $300-$400/sq.m.
Svay Dangkum
Wat Bo
- This part of town comprises residential properties and is a growing commercial district. It is the home of the famous Wat Bo temple. Being a few minutes away from Pub Street, Wat Bo gets an overflow of tourists that cannot be accommodated by the Old Market/Pub Street Area.
- It is comprised mostly of small shops and other commercial establishments.
- Apartments for rent range from $200 - $1500/month, depending on the number of rooms and quality of setup and furnishings.
- Land price per sq.m. is approximately $400-$2,500 (with the most expensive land being on the riverside).
Night Market (Old Market/Pub Street)
- This part of town is the most popular tourist area due to its busy night scene and lively bars that are open 24/7.
- The area is comprised mostly of restaurants, bars, hotels, and guesthouses as well as a few residential properties.
- Apartments can range from $300-$1000, depending on the number of rooms and quality of furniture.
- Land can be bought for $600-$2000 per square meter.
Slor Kram
- Slor Kram is close to the Wat Bo area and also receives an overflow of tourists. Nowadays, it is also becoming popular with locals and long staying expats due to its proximity to the city center.
- Apartments are becoming a little higher as well, with apartments ranging from $250-$700/month, depending on the number of rooms and furnishings.
- Land can be bought for $250 to $2,000 per square meter.
Top 6 Reasons to Invest in Real Estate Siem Reap with IPS Cambodia
IPS Cambodia, a trusted real estate agency in Siem Reap, stands ready to guide investors through the local market, unveiling a world of opportunities. Here are the top 6 reasons to consider investing in real estate in Siem Reap with IPS Cambodia.
Flourishing Tourism Economy
- Siem Reap's economy is experiencing a significant upswing, thanks to its flourishing tourism industry.
- As a gateway to the magnificent Angkor Wat temple complex, the city welcomes travelers from across the globe.
- This robust tourist presence translates to a growing demand for rental properties, promising attractive returns for real estate investors.
Investor-Friendly Climate
- Investment law in Cambodia create an environment conducive to real estate investment.
- The government's commitment to welcoming foreign investors with open arms is a reassuring sign for those looking to buy, sell, or rent properties in Siem Reap.
- This favorable investment climate extends a warm invitation to investors from around the world.
A Magnet for Foreign Investments
- Foreign investments in Cambodia are a driving force behind Siem Reap's real estate growth.
- The city's appeal to foreign businesses has spurred the demand for real estate properties. IPS Cambodia has a wealth of experience in assisting international investors, providing expert guidance for navigating Siem Reap's real estate market.
Legal Protection and Security
- The Cambodian government has enacted laws and regulations designed to safeguard investors' rights and ensure the security of their investments.
- IPS Cambodia possesses an in-depth understanding of the local legal landscape, offering investors a shield of protection and the confidence to invest wisely.
Lucrative Returns on Investment
- Siem Reap's real estate market boasts high returns on investment.
- With a burgeoning economy and a consistent need for rental properties, investors can anticipate substantial rental yields and property appreciation.
- IPS Cambodia's extensive property database is a treasure trove of opportunities for investors seeking rewarding returns.
A Diverse Property Portfolio
- IPS Cambodia proudly presents a diverse range of properties to cater to various investment preferences and budgets.
- Whether you aspire to own a luxury villa or have your sights set on commercial real estate, our team of real estate experts understands the intricacies of the local property market.
- They are well-equipped to provide valuable insights to support your investment decisions
Why Choose IPS Cambodia to Buy or Rent Real Estate in Siem Reap?
- Siem Reap is a city of great potential when it comes to invest into real estate in Cambodia. As the city expands, so does the demand for quality properties.
- With a plethora of real estate companies operating in the city, it can be overwhelming to choose the right one. However, one name that stands out in the crowd is IPS Cambodia.
- As a reputable real estate agency in Siem Reap, we offer a diverse range of residential and commercial properties.
- You can explore apartments, condos, studios, villas, land, houses, office spaces, rental spaces, and hospitality properties.
- This wide selection ensures you'll find the perfect match to suit your needs and budget.
- Our team of experienced professionals has extensive knowledge of the local real estate market and can guide you through the buying or renting process with ease.
- We prioritize transparency and honesty, ensuring there are no hidden costs or fees involved in any transaction.
- Our commitment to excellent customer service and a strong online presence makes us a reliable choice for anyone looking to buy or rent real estate in Siem Reap.
- We offer a hassle-free experience to their clients through our user-friendly website with a vast portfolio of property listings. We prioritize our clients' interests and work towards building long-lasting relationships based on trust.
Benefits of Choosing IPS Cambodia to Buy or Rent Real Estate Properties in Siem Reap
Wide Array of Properties
- IPS Cambodia offers an extensive portfolio of both residential and commercial real estate, ensuring diverse choices to meet your needs.
Local Real Estate Mastery
- With in-depth knowledge of Siem Reap's real estate market, IPS Cambodia provides valuable insights and guidance for informed decisions.
Transparency and Professionalism
- Count on IPS Cambodia for a transparent and professional service, backed by integrity and reliability.
Exceptional Customer Support
- Experience excellent and prompt customer support throughout your real estate journey in Siem Reap.
Tailored Solutions
- IPS Cambodia adopts a personalized approach, ensuring your specific requirements are precisely met.
Bank Loan Procedure / Finance Procedure of Buying a Real Estate in Siem Reap
If you're interested in purchasing a property in Siem Reap, then you may require financing options to make the investment possible. IPS Cambodia has tied up with various banks and financial institutions in Cambodia that offer loans to for buying properties at very affordable interest rates. Loans are only available to Cambodians, or foreigners married to a Cambodian.
Below is the procedure to apply bank loan to buy a real estate in Siem Reap:
Credit History
- To apply for a bank loan for purchasing a real estate property in Siem Reap, you will typically need to have a good credit history and a stable source of income.
- The bank may also require collateral as security for the loan.
- The loan amount that can be obtained can vary depending on various factors like the property value, repayment capacity, etc.
Loan Application Process
- After selecting the property that you wish to buy, you will need to approach the bank to begin the loan application process.
- The bank will then carry out an assessment of your financial situation to determine your eligibility for the loan.
- If you are eligible, the bank will provide you with the loan amount that you can use to purchase the property.
Additional Fees and Expenses
- Application Fees: These include appraisal fees, legal fees, and miscellaneous costs.
- Legal Fees and Associated Costs for Real Estate Acquisition in Siem Reap:
- Stamp Duty: 4% of the total property value (applicable for hard title).
- Property Tax: Levied at a rate of 0.1% per annum.
- Legal Fees: Optional legal assistance (lawyer) starting from $250 upwards.
- VAT (Value Added Tax): Developers bear a 10% VAT; resale VAT applies to VAT registered companies.
- Capital Gains Tax: Nonresidents are subject to a 20% profit tax on capital gains.
- Home Insurance: Varies based on property value.
- Real Estate Agent Fees: Typically 3% plus VAT.
Understanding these financial aspects and the bank loan process is essential when considering real estate investments in Siem Reap.
Common Payment Methods
Monthly Instalment Payments
- Payment Structure: Spread the property cost over time.
- Example: For a $100,000 pre-sale property in Siem Reap, pay a deposit ($2,000 - $3,000), 30% of the total cost within 7 days after deposit, and the remaining $70,000 in 24 monthly payments of $2,916 each over 2 years.
- Advantages: Stable monthly payments, reduced financial pressure, and no interest costs.
Payment by Instalment Based on Construction Progress
- Payment Structure: Payments linked to construction milestones.
- Example: Payments at stages like 30% down payment, 20% after foundation work, 20% after topping off the villa, 20% upon interior decoration completion, and 10% upon overall completion.
- Advantages: Funds raised in stages, lower financial risk, and no interest costs.
Full Payment
- Payment Structure: Pay the entire property price within 30 days of signing the sales agreement.
- Advantages: May secure the best investment price and expedite villa construction.
Bank Financing
- Payment Structure: Developer or traditional bank financing.
- Example: Some developments partner with banks (e.g., United Commercial Bank, Bank for Investment and Development of Cambodia, Phnom Penh Commercial Bank, Cathay United Bank) for mortgage support. Buyers make a 15% to 30% down payment, with the remaining 70% provided by partner banks, repaid over up to 20 years.
- Advantages: Offers the lowest monthly payment option, extended loan terms.
Note: Most banks do not provide loan support to international investors outside Cambodia. Foreigners with a long-term residence and work history in Cambodia may be eligible for home loans from banks.
These payment options provide flexibility for property buyers in Siem Reap, catering to various financial preferences and circumstances.
Legal Considerations While Buying Real Estate in Siem Reap
If you're considering buying real estate in Siem Reap, Cambodia, there are several legal considerations you need to keep in mind and IPS Cambodia can ensure a smooth and hassle-free transaction. Here are some key legal considerations to keep in mind:
Verify Property Ownership
- Before you start the buying process, it's essential to verify that the seller has the legal right to sell the property.
- You can do this by requesting a copy of the property title and having it verified by IPS, through the Land Management and Urban Planning Department.
Due Diligence
- Conduct thorough due diligence on the property to ensure there are no outstanding debts or liens on the property.
- Check the property's history and ensure that there are no disputes or legal issues related to the property.
Hire an Industry Professional
- It's crucial to hire an industry professional to guide you through the buying process.
- IPS is a registered and licensed real estate agency which can help you understand legal documents, verify the property title, and ensure that the transaction complies with Cambodian laws.
Sale and Purchase Agreement (SPA)
- Real estate agents draft a formal agreement (SPA) that outlines the transaction's terms and conditions, serving as a legal framework.
Collecting Requirements
- Specific documents, such as identification cards and marriage certificates, are provided to establish parties' legitimacy and property details.
Tax Obligations
- Be aware of your tax obligations as a property owner in Cambodia.
- Consult with a local tax expert to understand your tax obligations and ensure that you comply with all property tax laws.
Contractual Agreements
- Ensure that all contractual agreements are drafted in writing and that both parties agree to the terms and conditions of the contract.
- It's crucial to include all details of the transaction, such as payment terms, timelines, and any special conditions, in the contract.
Title Transfer Process
- This 90-day title transfer process involves updates from the Ministry and administrative tasks for property ownership transition, including payment of transfer taxes.
Final Payment and Title Handover
- The buyer and seller arrange final payment, and property title handover signals ownership change, concluding the process.
Understanding this legal roadmap of buying property in Siem Reap, along with expert guidance, is crucial to mitigate risks and challenges associated with property transactions, ultimately making the dream of owning property in Siem Reap a reality.
Steps to Buy or Rent Real Estate Properties in Siem Reap
If you're considering purchasing or leasing properties in Siem Reap, navigating the real estate process can appear daunting. However, with the support of a trusted real estate agency like IPS Cambodia, the journey becomes streamlined and hassle-free. Here are the key steps to guide you when buying or renting properties in Siem Reap.
Step 1 - Call our Executive
- The first step is to get in touch with one of IPS Cambodia's executives.
- You can call them or visit their website to schedule an appointment.
Step 2 - Tell Your Requirements
- Once you have scheduled an appointment, you can discuss your requirements with the executive.
- This will include your budget, the type of property you are looking for, and the location.
Step 3 - Find the Best Properties Available
- Based on your requirements, the executive will find the best properties available in Siem Reap.
- You can browse through their extensive portfolio of properties and select the ones that interest you.
Step 4 - Property Inspection
- Once you have selected a few properties, the next step is to inspect them.
- You can schedule a visit to the properties with the executive, who will guide you through the entire property inspection process.
Step 5 - Negotiating and Making an Offer
- Once you have found a property that you like, the executive will help you negotiate with the seller or the landlord.
- They will also assist you in making an offer.
Step 6 - Finance Support (if required)
- If you are a Cambodian, or married to a Cambodian, and want to finance a real estate purchase, IPS Cambodia has a team of experts who can help you with the process.
- They can assist you in finding the right lender, mortgage options, and getting the best possible interest rates.
Step 7 - Completing Legal Paperwork
- Once you have made an offer and it has been accepted, the next step is to complete the legal paperwork.
- IPS Cambodia's document processing services will help you with this process and ensure that everything is in order.
Step 8 - Transferring Ownership/Title Transfer
- Once the paperwork is complete, the final process is to title transfer/transferring ownership.
- IPS Cambodia's team will guide you through this process and ensure that everything is done smoothly.
Step 9 - Moving and Settling In
- Moving Services: Use a handy checklist to streamline the moving process. Also, check out our guide on tips for moving houses to make your moving process a breeze.
- Utility Setup Guide: Get guidance on setting up utilities efficiently.
- Tips for Decorating and Optimizing Space: Discover decorating and space optimization tips for a pleasant living environment.
- Community Integration: Gain a brief introduction to local communities and groups for a smoother transition.
- Navigating Cultural and Social Norms: Learn how to adapt to local cultural and social norms.
Step 10 - Property Management Services
- Connect with the property management team for ongoing support.
Step 11 - Maintenance and Repair
- Process for Reporting Issues: Understand how to report maintenance or repair issues promptly.
- Expected Timelines for Fixes: Get an idea of the expected timelines for resolving maintenance or repair requests to plan accordingly for any inconveniences.
KH