timmydownawell wrote: ↑Thu Dec 10, 2020 10:44 am

Doc67 wrote: ↑Thu Dec 10, 2020 10:19 am I heard that too, about the soft titles in Daun Penh. Quite a few expats got the soft title and now can't sell to another foreigner. It's hard to get reliable information as most are reluctant to discuss their predicament.

Apparently, it can be done via a property holding company and then granting yourself a very long lease (like 50 years with another 50 years after that), but that route does sound expensive to set up and maintain, especially for a $50k property.

And, of course, they can always change the rules and stick you with additional annual fees or taxes which end up being the same as a rent.

You could put the money in Prasac at 7% and the interest will virtually pay the rent.

The other thing with soft title is I understand that banks won't lend to buy them. That must be holding the market back massively.

Will they not lend to Khmer with sift titles?

Mortgage interest rates at 10%+ also put a big brake on the market.

The only real justification for buying an apartment here is to take advantage of a rapidly rising property market. Right now it isn't going anywhere good. If you want to rent an apartment for 3-5 years and do some improvements to it out of your own pockets, the line of landlords that will indulge you is very long.

I moved into my apartment 3 years ago and it was a nice quiet street, especially after 9pm. Now it has 3 after hours eat and drinking places, a bunch of Khmer assholes that get drunk every night until 12pm, shouting and laughing like fuckin hyenas and a newly arrived little dog that barks it head off all evening (owned by people that opened a convenience store that opens until 11pm.)

All of this noise pours in through an ill-fitting metal doors and window system with paper thin glass. Oh, for tight fitting uPVC window frames and double glazing.

I am so glad I didn't buy the place, I was seriously thinking about it. It hasn't gone up in value at all in the last three years and the street has gone down tubes in the same time.

clutchcargo wrote: ↑Thu Dec 10, 2020 11:11 am

Doc67 wrote: ↑Thu Dec 10, 2020 11:00 am
Plenty of room given for a three ring burner! Should of put in a two ring electric one; clean, neater and safer and takes up half the space.

And, no overhead exhaust! Guaranteed to stink out your dining/lounge room with a nice dish of smelly prohok..

Banned in my place, exhaust fan or not. Relationship ending consequences for breach of that rule.

clutchcargo wrote: ↑Thu Dec 10, 2020 11:05 am

timmydownawell wrote: ↑Thu Dec 10, 2020 10:44 am

Doc67 wrote: ↑Thu Dec 10, 2020 10:19 am I heard that too, about the soft titles in Daun Penh. Quite a few expats got the soft title and now can't sell to another foreigner. It's hard to get reliable information as most are reluctant to discuss their predicament.

Apparently, it can be done via a property holding company and then granting yourself a very long lease (like 50 years with another 50 years after that), but that route does sound expensive to set up and maintain, especially for a $50k property.

And, of course, they can always change the rules and stick you with additional annual fees or taxes which end up being the same as a rent.

You could put the money in Prasac at 7% and the interest will virtually pay the rent.

The other thing with soft title is I understand that banks won't lend to buy them. That must be holding the market back massively.

Mrs Cargo mentioned that to me too. However, when I look on the ABA website under both 'simple' and 'growth' loans they mention soft and strong title and even have a different interest rate for each https://www.ababank.com/en/business/loans/simple-loan/

There appears to be no mention of title type on Acleda's site https://www.acledabank.com.kh/kh/eng/ps_crhousingloan

That ABA one is a business loan not a mortgage. But Sathapana Bank apparently does lend on soft titles so perhaps my agent was wrong? Must just be each bank's own policy. https://www.sathapana.com.kh/personal/p ... home-loan/

timmydownawell wrote: ↑Thu Dec 10, 2020 1:32 pm

clutchcargo wrote: ↑Thu Dec 10, 2020 11:05 am

timmydownawell wrote: ↑Thu Dec 10, 2020 10:44 am

Doc67 wrote: ↑Thu Dec 10, 2020 10:19 am I heard that too, about the soft titles in Daun Penh. Quite a few expats got the soft title and now can't sell to another foreigner. It's hard to get reliable information as most are reluctant to discuss their predicament.

Apparently, it can be done via a property holding company and then granting yourself a very long lease (like 50 years with another 50 years after that), but that route does sound expensive to set up and maintain, especially for a $50k property.

And, of course, they can always change the rules and stick you with additional annual fees or taxes which end up being the same as a rent.

You could put the money in Prasac at 7% and the interest will virtually pay the rent.

The other thing with soft title is I understand that banks won't lend to buy them. That must be holding the market back massively.

Mrs Cargo mentioned that to me too. However, when I look on the ABA website under both 'simple' and 'growth' loans they mention soft and strong title and even have a different interest rate for each https://www.ababank.com/en/business/loans/simple-loan/

There appears to be no mention of title type on Acleda's site https://www.acledabank.com.kh/kh/eng/ps_crhousingloan

That ABA one is a business loan not a mortgage. But Sathapana Bank apparently does lend on soft titles so perhaps my agent was wrong? Must just be each bank's own policy. https://www.sathapana.com.kh/personal/p ... home-loan/

Bit off topic but the good thing about Sathapana bank is they spell out in full the terms and requirements on that link (eg borrow up to 70% and 11% interest for soft title).

A side anecdote, I withdrew money from one of their ATMs, the draw opened but nothing came out lol...yet my account was debited. So I went to their branch on Norodom in Daun Penh and I was referred to a supervisor there who said they would need to check their logs etc and I got my money back within a week. Thought it was gonna drag out for weeks. She even called me to notify me on progress. Good service there.

So ABA doesn't mention home loans from what I can see, Acleda does but no mention or soft/hard title, same Vattanac but Canadia says they accept soft title https://www.canadiabank.com.kh/personal/home-loan

Thank you all , Happy New Year 2021.
Please kindly pm, if you interested to buy or rent ,Have a great day .

armchairlawyer wrote: ↑Fri Jan 08, 2021 1:09 pm

Ken2016 wrote: ↑Fri Jan 08, 2021 8:39 am Thank you all , Happy New Year 2021.
Please kindly pm, if you interested to buy or rent ,Have a great day .

Happy new year to you too.
By the way, it has been noticed that your "House for Rent, Riverside" is in fact not a house and not on Riverside.
A more accurate description would be "Apartment for Rent on Street 130".

That is riverside area , Thanks