buy or rent property in Siem reap
Is your intention to buy or rent property in Siem Reap? We will share information and our experiences so that you can decide. You have decided that Krong Siem Reap is the destination of your dreams and intend to move here. Maybe you have retired or simply wish for a better life.
Have you found a Cambodian wife but still want to live a life that has an expat community and some western luxuries. Siem Reap is an ideal place to have a base whether you decide to buy or rent a property; be it a small flat or a luxurious villa.
What you need is information for which to make your decision on the solution that best fits your needs and budget.
Buying A Property In Cambodia
Firstly you cannot and will not outright own your villa or house in Cambodia. No matter what legal framework is used it will try and circumvent the fact that foreigners cannot own land in Siem Reap or anywhere in Cambodia.
If you were buying a house in Australia, United Kingdom, USA or anywhere in the West and were asked to authorise the documentation you are asked to sign here, you would run a mile. You will never be fully in control of the land deeds.
There are no realistic property valuations that are easily researched. Nor are there many if any chartered surveyors. These are 2 groups that you would demand in your home country.
However, there is a good chance that the property is for your partner. There has to be a clear understanding that if this property will be for your partner and their family. You might as well put it in their name.
One final note about buying a property in Siem Reap. You cannot move as easily.
Buying a flat or a villa in Siem Reap is a lifestyle investment, which is the best reason for investing in a property.
Renting A Property In Siem Reap
There are many advantages for renting a property in Siem Reap. This list is not extensive. We always appreciate input as to why you decided to rent.
- Contract can legally be in your name.
- You can move easily if you decide that you prefer a different area of Siem Reap.
- It is easy for you to move to a bigger or smaller property.
- There is no need for you to invest huge sums of your nest egg. As low as $1,000 USD to start renting rather than $50,000 – $250,000 to buy.
- A rental agreement is far cheaper than the costs of buying.
- The timescales involved in renting a property can be as little as a few days. Buying a property can take months.
- There are no issues with inheritance and wills.
- You can keep your savings safe in your home country.
- You will be able to afford a more luxurious property than you could afford to buy.
- You do not have the underlying costs of maintaining a property. Building insurance. Structural repairs. Renovations. Painting and decorating.
- Bad neighbours – move. You are here to enjoy Cambodia.
- Land appropriation by the government. You avoid any risk of property repossession.
- Planning permissions are not required when you rent.
These are some of the issues that can and often are overlooked.
Try Before You Buy
Siem Reap Property Rental is proud to offer the 1st rent to buy product in Krong Siem Reap. SRPR is creating a portfolio of properties which you can rent before you buy. This allows you to get a feeling for the area before you commit to buying.
There is a minimum rental period of 3 months, which we believe is the least amount of time to fully explore Siem Reap.
We have a selection of sellers who are willing to rent you a property for 3-6 months with an option to buy at a prearranged fixed price.
There is no better method for you to discover if your ideal property is in fact your ideal property. Or a disastrous choice for you and your family.
Think of the issues you will not have post purchase of your ideal villa or condo. Problem neighbours. Too near or too far from Siem Reap nightlife or markets. Are the best schools within an easy daily journey. Is it possible to commute daily to the market for fresh vegetables and fruit?
Rent to buy is the best of all worlds for you to find your tropical home.
Finding The Ideal Siem Reap Property
In addition to the above SRPR offers a research service. You tell us what you want and we will find properties that fit your requirement, or your deposit returned. Full details on our property service page.
Contact Siem Reap Property Rental today – we can help