There are many benefits to condo ownership, from the convenience of condo living to the investment potential. Condominiums in Sihanoukville Cambodia offer a prime location with many amenities and easy access to entertainment, shopping and dining. Read on for more information about how you can find a condo for sale in Sihanoukville.
While condo living may not be for everyone, condos in Sihanoukville offer many benefits. Condos are typically built with luxury amenities and new construction meaning condo owners will enjoy these lifestyle benefits and access to a prime location with easy access to entertainment, shopping and dining. If you’re considering moving to Sihanoukville and want the convenience of condo living then read on for more condo information.
Your beachfront lifestyle
Living by the beach is a dream for many people and buying a condo in Sihanoukville is a great option for those who want to be close to the beach at an affordable price.
After you’ve settled in you can participate with your new condo community by joining any condo committee meetings or events. Speak with other residents at the pool area or over coffee in the lobby to learn about their experience living there. Be sure to network and make friends so that you feel at home.
The condo lifestyle offers convenience, plenty of opportunities for socialisation and involvement in activities, as well as a chance to invest in your future by purchasing property now. Condo life provides that perfect balance between home and community while still maintaining the investment potential of your property.
As condo prices in the Sihanoukville real estate market continue to grow, it is a good time to invest and purchase one for your future.
Top tips for buying a condo in Sihanoukville:
- Research the condo market and prices in Sihanoukville;
- Choose a condo size that suits your needs – do you prefer a studio condo or two-bedroom condo?
- Consider amenities important to you such as whether there are pools, gyms, well maintained gardens, etc.
- Find out what is included with the price of the condo and what is an extra cost – such as maintenance fees.
And lastly, our top tip is to contact a reputable real estate agent for expert help.
Financing a condo purchase in Cambodia
Cambodia offers a variety of condo projects, from low cost condos to luxury condo developments. Naturally, these come with different price tags – so first step is to find a condo within your budget.
As a foreigner it can be difficult to obtain a typical mortgage from a bank in Cambodia. Fortunately many condo developers in Cambodia are now offering buyers owner-financing schemes, meaning you don’t need a large deposit up front for the purchase price – this makes it easier to buy your condo. Local Cambodian buyers have more choice of financing options through local banks.
Most projects are sold off-plan. This means you should be aware that the condo will not be finished for a year or more. By buying early on you can often get a good deal and your pick of the best units available. But do your due diligence to find a developer with a good track record as you do take the risk of construction delays or in rare cases the project not being completed.
Can foreigners buy a condo in Sihanoukville?
Yes. Overseas or expat buyers can own a strata-title condominium 100% and can later sell or transfer the title to another non-Cambodian. Almost all condo developments are registered as strata title since foreign buyers are a key sales market for the developers.
The condo market in Sihanoukville is still very active and there are many projects currently underway so you will have many projects to choose from when looking for a condo for sale in Sihanoukville.
What about buying a condo as an investment?
Purchasing a condo for investment purposes is a popular choice for condo buyers in Cambodia.
Investment condo projects are often built to a higher standard with better amenities, so they appreciate in value more quickly than other types of property – this means you can enjoy an increased income return on your investment over time.
When you buy a condo for investment, you will typically want to rent it out instead of live there. A real estate agency can help you with both the condo purchase and to find tenants. Many investment clients are based overseas and handle the process remotely with an trusted agency.
Renting your condo can provide you with an excellent way of offsetting the cost of loan payments, maintenance and other costs associated with condo ownership, while still enjoying the long term investment growth associated with property ownership.
Sihanoukville has seen significant condo developments in recent years as property investors realise the future potential of the city. Most developments are in good locations – a beachfront condo on one of Sihanoukville’s many idyllic sandy beaches is a highly desirable asset.
Is now a good time to look for a condo for sale in Sihanoukville?
Now may be the perfect time to buy a condo in Sihanoukville. Before the pandemic this beautiful beachside city on Cambodia’s south coast was seeing a steady increase in tourism and now boasts excellent infrastructure. It has been a popular destination for visitors from all around Asia and Europe as well as locals seeking out their own slice of paradise.
While the tourist numbers were affected by the pandemic, the real estate prices also stopped climbing leaving buyers with a good opportunity. Add that to its affordable cost-of-living, improving infrastructure, and strong economic growth rates – it’s no wonder investors are starting to take notice. If you’re looking for your next investment opportunity with potential for high returns or just want a new place to live by the sea, you can find some great options when looking for a condo for sale in Sihanoukville.
We recommend to contact a reputable real estate agent to help with your condo purchase. Try an international agency with a Cambodia office such as Knight Frank, or a local agent like IPS or Pointer. For further information read our Relocation: Moving to Cambodia guide.