Buy soft-title apartment in PP

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rabbit_ear
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Re: Buy soft-title apartment in PP

Post by rabbit_ear »

armchairlawyer wrote: Sun Apr 04, 2021 8:04 pm
rabbit_ear wrote: Sun Apr 04, 2021 5:09 pm
And sure on the reward side we all have very different expectations. For myself I see good opportunity. Inflation is high here so I would not be surprised to see overall price level double in 10-15 years, real-estate even more. PP won’t be the same then, but it’s easier to accept change here if it positively affects my own bottom line. As for the timing, it looks like a good opportunity. There is fear here now, masks, curfew… I’m not judging, just observing. Covid doesn’t seem to go away from people’s perceptions. Times of fear and panic is usually a good time to buy, if you believe in the asset.
What do you call high?
Inflation in Cambodia in 2020 was 2.54%. In 2019 it was 2.01%.
Real estate prices generally fell in 2020.
The only good prospect for real estate price increases for the foreseeable future would be land in the provinces, bought at the right price.
As for trusting in the long-term reputation of a real estate agent, what could possibly go wrong?
It's a common investment mistake to miss opportunities at market lows and then to go all in at the top of the market.
If you have a good Khmer lady you can trust (like Kammekor) I would say do it regardless but without that, no.
If you do go ahead, trust in a good lawyer as opposed to an agent.
You are right, inflation is lower than I thought. Other than that, I am not sure why you think I would go all in at the top of the market. I expect to get the place significantly below market. because of corona and also because I know the landlord's situation at least partially.
But I'm not married to the purchase either. I'm just doing due diligence, here and also from other sources, a lawyer being one of them. I am also in no rush. I try to understand the situation as good as I can, so that I know what I will be negotiating for with the landlord when the time comes.
If the price doesn't balance out the risk for me, I'll move on and no harm done.
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Bitte_Kein_Lexus
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Re: Buy soft-title apartment in PP

Post by Bitte_Kein_Lexus »

Whenever there's a thread about buying land/property, you get one or two people who chime in with actual experience, and twenty who have none but want to tell you how/why not etc. Hilarious.
Ex Bitteeinbit/LexusSchmexus
rabbit_ear
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Re: Buy soft-title apartment in PP

Post by rabbit_ear »

Bitte_Kein_Lexus wrote: Wed Apr 07, 2021 6:33 am Whenever there's a thread about buying land/property, you get one or two people who chime in with actual experience, and twenty who have none but want to tell you how/why not etc. Hilarious.
Speaking of which, you mentioned you sold a property to a foreigner not so long ago. Can I ask how you did that? Or maybe I just pm you if that's ok.
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Grand Barong
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Re: Buy soft-title apartment in PP

Post by Grand Barong »

Bitte_Kein_Lexus wrote: Wed Apr 07, 2021 6:33 am Whenever there's a thread about buying land/property, you get one or two people who chime in with actual experience, and twenty who have none but want to tell you how/why not etc. Hilarious.
"There are as many opinions as their are experts" Franklin D Roosevelt
daeum_tnaot
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Re: Buy soft-title apartment in PP

Post by daeum_tnaot »

I knew some one who did it years ago using a company structure. Otherwise you could hit str 136 and take your chances there.
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truffledog
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Re: Buy soft-title apartment in PP

Post by truffledog »

Bitte_Kein_Lexus wrote: Wed Apr 07, 2021 6:33 am Whenever there's a thread about buying land/property, you get one or two people who chime in with actual experience, and twenty who have none but want to tell you how/why not etc. Hilarious.
1) Many expats probably lack the funds to even consider "buying" in any form possible
2) Most of us have come to Cambodia by travelling and consider Cambodia just a stopover only and the base of choice for THE ACTUAL MOMENT BEEING. Such people wuold never by any property as it means "setting an anchor" that binds you. Those people are always "ready to move" if the conditions change.
3) Many people have witnessed fuckups of any kind related to buying property in a asian country and therefore strongly advise against any purchase of property. I personally witnessed quite a few in different countries and have become very adverse in regards of investing in property. The a´last thing I would do.
work is for people who cant find truffles
Dunderhead
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Re: Buy soft-title apartment in PP

Post by Dunderhead »

Wise words, as with all investments, timing is critical, the best time to invest in property in SE Asia was between 1995 and 2007 The time to sell was 2010 to 2019. Of course this is only easy to see in hindsight
and I am generalising. Now is time to wait, as long ad the covid restrictions are strangling the economy, and lending rates are so high, prices are headed down.
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