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Help Me Buy A Flat in PP...
Posted: Sat Apr 11, 2020 9:17 pm
by MikeD
Hello Expats and the like.
First, I hope you are WELL and SAFE from COVID 19.
I want to find some reliable, reputable, local contacts to help me buy a flat in PP. You know how the locals value the ground floors for business reasons? Well, sometimes they have an excess floor above they want to rent or sell. I have some questions about that and want to know what your thoughts are:
1. How much this one floor ownership option would cost in the Deun Penh or Riverside area compared to just renting it?
2. Where is the best place to look for these kinds of lower cost arrangements? Do you know anyone or websites in particular that offer these options?
3. I am buying to let friends and relatives stay while I am not there. Prefer a two bedroom configuration with a bathroom, kitchen space, etc. You know the things that a New Yorker would want.
4. If you can help, post here, pm me, OR better yer send me your number to chat on Whatsapp. Thanks in advance...MikeD
Re: Help Me Buy A Flat in PP...
Posted: Sat Apr 11, 2020 9:26 pm
by PSD-Kiwi
First things first...familiarise yourself with the laws surrounding foreigners purchasing & owning property.
Here's a start
https://www.realestate.com.kh/news/fore ... hnom-penh/
Re: Help Me Buy A Flat in PP...
Posted: Sat Apr 11, 2020 9:32 pm
by Captain Bonez
???
Re: Help Me Buy A Flat in PP...
Posted: Sat Apr 11, 2020 9:43 pm
by John Bingham
Now isn't a good time, wait at least 6 months for some good discounts.
Re: Help Me Buy A Flat in PP...
Posted: Sun Apr 12, 2020 6:31 am
by pczz
MikeD wrote: ↑Sat Apr 11, 2020 9:17 pm
Hello Expats and the like.
First, I hope you are WELL and SAFE from COVID 19.
I want to find some reliable, reputable, local contacts to help me buy a flat in PP. You know how the locals value the ground floors for business reasons? Well, sometimes they have an excess floor above they want to rent or sell. I have some questions about that and want to know what your thoughts are:
1. How much this one floor ownership option would cost in the Deun Penh or Riverside area compared to just renting it?
2. Where is the best place to look for these kinds of lower cost arrangements? Do you know anyone or websites in particular that offer these options?
3. I am buying to let friends and relatives stay while I am not there. Prefer a two bedroom configuration with a bathroom, kitchen space, etc. You know the things that a New Yorker would want.
4. If you can help, post here, pm me, OR better yer send me your number to chat on Whatsapp. Thanks in advance...MikeD
You cannot just buy a flat above a shop anymore, AFAIK. Foreigners can only buy a flat on a stratos license which is basiclalay in a condo, unless that law has since been cancelled
Re: Help Me Buy A Flat in PP...
Posted: Sun Apr 12, 2020 8:30 am
by WildA
MikeD wrote: ↑Sat Apr 11, 2020 9:17 pm
Hello Expats and the like.
First, I hope you are WELL and SAFE from COVID 19.
I want to find some reliable, reputable, local contacts to help me buy a flat in PP. You know how the locals value the ground floors for business reasons? Well, sometimes they have an excess floor above they want to rent or sell. I have some questions about that and want to know what your thoughts are:
1. How much this one floor ownership option would cost in the Deun Penh or Riverside area compared to just renting it?
2. Where is the best place to look for these kinds of lower cost arrangements? Do you know anyone or websites in particular that offer these options?
3. I am buying to let friends and relatives stay while I am not there. Prefer a two bedroom configuration with a bathroom, kitchen space, etc. You know the things that a New Yorker would want.
4. If you can help, post here, pm me, OR better yer send me your number to chat on Whatsapp. Thanks in advance...MikeD
Dude slap yourself and wake up. The last thing you want to do is buy a condo or apartment in some country where the construction standards are as relaxed as two yogis on ludes and the rule of law is at the whim of some dude that doesnt speak your language.
Rent in the world, buy in the USA
Re: Help Me Buy A Flat in PP...
Posted: Sun Apr 12, 2020 6:24 pm
by MikeD
Hello Expats, Friends and the like: I want to clarify that you can make "special arrangements" if you buy the flat from someone you know even thought the law precludes ownership of non Khmer citizens. I know this option has been exercised before. You just have to secure the ownership of your flat with a side collateral against the main owner.
However I am more interested in whether to A) rent indefinitly, B) buy or C) use AirBnB option based on what I wanted to do. Furthermore, I wanted a Western style property - a bathroom with a separate toilet, shower/tub, A/C unit, etc.
Re: Help Me Buy A Flat in PP...
Posted: Mon Apr 13, 2020 9:25 am
by WildA
[Mod edit: come on, no need to troll here]
Re: Help Me Buy A Flat in PP...
Posted: Mon Apr 13, 2020 10:15 am
by armchairlawyer
pczz wrote: ↑Sun Apr 12, 2020 6:31 am
You cannot just buy a flat above a shop anymore, AFAIK. Foreigners can only buy a flat on a stratos license which is basiclalay in a condo, unless that law has since been cancelled
A foreigner could only ever buy the right to possession of anything except condos built after 2009. That didn't stop many apartments above shophouses being successfully bought and sold by them. Then Daun Penh got restrictive about it a few years back. It's a risk for a foreigner buying that kind of place anywhere now and very risky in Daun Penh.
Btw, a lot of vendors on the riverside in the late afternoon now selling condos and borey houses. There's a lot of stock to shift.
Re: Help Me Buy A Flat in PP...
Posted: Mon Apr 13, 2020 10:22 am
by offroadscholar
MikeD wrote: ↑Sun Apr 12, 2020 6:24 pm
Hello Expats, Friends and the like: I want to clarify that you can make "special arrangements" if you buy the flat from someone you know even thought the law precludes ownership of non Khmer citizens. I know this option has been exercised before. You just have to secure the ownership of your flat with a side collateral against the main owner.
However I am more interested in whether to A) rent indefinitly, B) buy or C) use AirBnB option based on what I wanted to do. Furthermore, I wanted a Western style property - a bathroom with a separate toilet, shower/tub, A/C unit, etc.
You're circumventing the law with the
special arrangements, therefore your khmer nominee/partner has no legal obligation to honor it.