Irrespective of the reason behind selling a Sihanoukville property, you should try to make the highest possible profit on your investment. Selling an investment property in Sihanoukville can be highly profitable if you consider the following factors:
- Timing of the sale
Proceeds from a property sale will definitely attract a substantial amount of capital gains tax and if you want to avoid paying huge taxes, it’s better to hold on to your property for at least a year. Capital gains taxes are applicable to properties that you sale during a particular year so holding it for longer period saves you money because of the adjustment.
- Value of a property
You must know the value of an investment property and should be aware of what it might fetch when sold. Research is key and you must find out the value of similar properties in Sihanoukville. A great way to find out prevailing rates is by getting touch with the local agents. You can also get your property valued by a licensed valuer.
- Settle on a sale method
You can either go for an auction or choose private sale. However, you should consider the pros and cons associated with both the methods of sale. Auction is good if the market is going strong; however, it’s wise to go for a private sale when you have enough time and are confident about the value of your property.