buying and selling property

This is a part of our Cambodia forums to chat about anything Cambodia-related. This discussion forum is at the top of our site because it's usually the busiest part of the expat community chatter with random topics on just about everything, including expat life, Khmer politics, Cambodian blogs we have or have come across, or whatever else our members want to discuss. Whether you're an expatriate, tourist, Cambodian or random traveler just passing through South East Asia, you are welcome to talk about anything or start new topics yourselves.
engexpat
Tourist
Posts: 29
Joined: Fri Oct 11, 2019 9:24 am
Reputation: 1
Great Britain

buying and selling property

Post by engexpat » Fri Jan 31, 2020 5:03 am

anyone have any knowledge/experience buying and selling property in cambodia is the legal side to much hassle ect im looking into buying small properties to flip as a side business it will not be my main job its more for my kid and something for me to work on instead of spending all my time in bars is there any websites or auctions to buy run down property? also how would i go about buying i know i cant do all in my name and would put in my childs name but when selling would this cause problems?
User avatar
Kammekor
Expatriate
Posts: 2889
Joined: Fri Sep 01, 2017 12:50 pm
Reputation: 1073
Cambodia

Re: buying and selling property

Post by Kammekor » Fri Jan 31, 2020 6:20 am

engexpat wrote:
Fri Jan 31, 2020 5:03 am
anyone have any knowledge/experience buying and selling property in cambodia is the legal side to much hassle ect im looking into buying small properties to flip as a side business it will not be my main job its more for my kid and something for me to work on instead of spending all my time in bars is there any websites or auctions to buy run down property? also how would i go about buying i know i cant do all in my name and would put in my childs name but when selling would this cause problems?
Your child needs to be Cambodian and 18 years or older for this trick to work.
Lonestar
Expatriate
Posts: 149
Joined: Fri May 16, 2014 6:00 pm
Reputation: 55
Cambodia

Re: buying and selling property

Post by Lonestar » Fri Jan 31, 2020 6:42 am

Years ago a friend of mine had a property in his minor son's name. When he went to sell it, he had to go to court and convince the court he was acting in the child's interests.

There are a few ways you can buy property. One of which is through a Khmer nominee that you have a trust agreement with. You could go through an attorney or through one of the larger realty companies in town if you want to go this route. I did in the past without any difficulty.

Best of luck
pczz
Expatriate
Posts: 3200
Joined: Sun Mar 22, 2015 1:00 pm
Reputation: 795
Location: phnom penh
Great Britain

Re: buying and selling property

Post by pczz » Fri Jan 31, 2020 7:44 am

Flipping is not much of a pasttime here although a few foreigners have had a go. First thing is most Khmer just demolish what they bought and start again, so they are not that interested in an old pile ofmconcrete thats been tarted up, and secondly it takes on average 3 lifetimes to sell anything anyway. Flipping land is probably easier
User avatar
Duncan
Sir Duncan
Posts: 8151
Joined: Tue Jun 03, 2014 8:22 pm
Reputation: 2332
Location: Wonder Why Central

Re: buying and selling property

Post by Duncan » Fri Jan 31, 2020 9:33 am

Lonestar wrote:
Fri Jan 31, 2020 6:42 am
Years ago a friend of mine had a property in his minor son's name. When he went to sell it, he had to go to court and convince the court he was acting in the child's interests.

There are a few ways you can buy property. One of which is through a Khmer nominee that you have a trust agreement with. You could go through an attorney or through one of the larger realty companies in town if you want to go this route. I did in the past without any difficulty.

Best of luck

Quote from realestate,com kh , Cambodian Investment Guide 2019.

FOREIGN OWNERSHIP THROUGH NOMINEE STRUCTURE.
Nominee structures are not recognised under Cambodian law and are not valid legal structures.
Realestate, com.kh firmly recommends seeking independent and legal assistance in this scenario.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
User avatar
timmydownawell
Expatriate
Posts: 2499
Joined: Tue Mar 22, 2016 12:50 pm
Reputation: 659
Location: Phnom Penh
Cambodia

Re: buying and selling property

Post by timmydownawell » Fri Jan 31, 2020 5:23 pm

pczz wrote:
Fri Jan 31, 2020 7:44 am
it takes on average 3 lifetimes to sell anything anyway.
This in particular. It would be easier to sell if barangs were allowed to buy/own non-strata properties, but the market is currently constrained by this.
No matter how much it rains, the dirt never washes away.
User avatar
Bitte_Kein_Lexus
Expatriate
Posts: 3492
Joined: Sun May 18, 2014 7:32 pm
Reputation: 708

Re: buying and selling property

Post by Bitte_Kein_Lexus » Fri Jan 31, 2020 5:55 pm

What kind of properties are you thinking of flipping? For the most part, I'd say the ship has sailed for the flipping game as property prices are too high and margins on renovations too low for much of a ROI on that side of things.
Ex Bitteeinbit/LexusSchmexus
pczz
Expatriate
Posts: 3200
Joined: Sun Mar 22, 2015 1:00 pm
Reputation: 795
Location: phnom penh
Great Britain

Re: buying and selling property

Post by pczz » Sat Feb 01, 2020 3:31 am

timmydownawell wrote:
Fri Jan 31, 2020 5:23 pm
pczz wrote:
Fri Jan 31, 2020 7:44 am
it takes on average 3 lifetimes to sell anything anyway.
This in particular. It would be easier to sell if barangs were allowed to buy/own non-strata properties, but the market is currently constrained by this.
Dont hink any barang would be daft enough to buy an apartment in Cambodia. no building control, no soundproofing, appalling building quality, no maintenaince agreement to limit increases, no sink fund, no fire precautions and twice the price of Thailand. if you want to invest in property europe would be better. Anyone can own property in Uk, pay 70,000 for a 3 bed outside major cities, spend 5000 redecorating and rent it out for 600-700 a month. Far better return than Cambodia and safer. Or splash out 250,000-350,000 euros and buy a 3 bed with pool in grece or spain and get a residence permit for you and your family and you don't even have to live in it so you can airbnb it
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post