Sihanoukville or Kampong Som is the famous city of Cambodia. Sihanoukville is popular for many things. It is renowned for real estate, tourism, etc. If you are planning to invest some money in Sihanoukville, real estate can be the best option.
Out of different rapidly growing frontier Asian markets, real estate in Cambodia is best for real estate investors and foreigners. In Cambodia, some popular cities for real estate are Sihanoukville, Siem Reap, and Phnom Penh.
The main reason why you should consider investing some money in Cambodia properties is due to the country’s excellent economy. Do you know Cambodia has not suffered a single year of recession in the last 20 years? The country passed the 1990s Asian Financial Crisis, the 2000s tech bubble, and the 2008 Financial Crisis.
Many giant companies have invested their money in the countries. Companies like Nike, Samsung, Toyota, etc. are setting up their business operations in Cambodia. Over the past years, the foreign investment activities in different cities of Cambodia has been increased.
Hence, investment activities in Sihanoukville, Cambodia is increasing. If you are a foreigner planning to invest in the country, it is a good idea to invest your money in the real estate market.
Foreigners can buy properties in Cambodia. In the country, the ownership for the land is classified into four different titles: hard title, soft title, LMAP (Land Management and Administration Project) title, and Strata title. The different title suggest different ownership types.
For example, hard titles, soft titles, and LMAP titles are only for Cambodian citizens. Foreigners can’t buy property under this title. Strata titles are for both, Cambodian citizens as well as foreign citizens. If you are a foreign investor, you should know about each of the property ownership titles in Cambodia. Let’s talk about each ownership title:
- Soft titles: Soft title is the most common form of land ownership in Cambodia. This title is the form of customary ownership in Cambodia. The title is just for Cambodians, and foreigners can’t own any property under this title. You will find that majority of soft titles are ultimately being converted to hard titles.
- Hard titles: Hard title is the strongest form of land ownership in Cambodia. In the country, the official recognition of property ownership is the Land Department of the Ministry of Land Management, Urban Planning, and Construction (MLMUPC).
- LMAP titles: This title was introduced by World Bank with approval from the government. It ensures more security and safety. Just like soft and hard titles, this title is available to Cambodian citizens only.
- Strata titles: Strata titles were introduced in 2009. Strata titles allow foreign nationals to own private units of co-owned buildings in Cambodia.
As we have seen, property investment in Cambodia is increasing. The good thing is the country allows foreign investors to own property in Cambodia. After knowing and understanding government guidelines for real estate investment for foreign citizens, you can own the property under the strata title.
If you are interested in real estate investment in Cambodia, Sihanoukville Province can be a great choice. While planning to invest in any real estate, the major mistake many people often make is they don’t take guidance from experts. To ensure the proper investment, it is advisable to take the help of an good real estate company.
Dragon Real Estate is the best real estate company in Cambodia. You can buy or sell apartments, condos, commercial properties, lands, villas, houses, etc. If you want to buy, sell, or even rent any property in the country, you can get into touch with Dragon Real Estate.