Cambodia Real Estate Market

[CanadianMan679]

I currently own and rent out condos as my business in the western world. I’ve been doing research on Cambodia and considering moving there full time and transferring my business abroad.

What is everyone’s opinion on buying and renting out condos in Phnom Penh or any other city in Cambodia.

My biggest concern is the vacancy rates as there is lots of supply for rentals so I would be stuck with no one living in said units unlike where I am now that almost doesn’t exist with the demand here.

Any thoughts on having said business in Cambodia?

[PSD-Kiwi]

My biggest concern is the vacancy rates as there is lots of supply for rentals so I would be stuck with no one living in said units unlike where I am now that almost doesn’t exist with the demand here.

You have answered your own question right there.

[CanadianMan679]

My biggest concern is the vacancy rates as there is lots of supply for rentals so I would be stuck with no one living in said units unlike where I am now that almost doesn’t exist with the demand here.

You have answered your own question right there.

Coming from a place of ignorance on the market there I’m hoping to get other expats experiences or some more knowledge on the fact

[phuketrichard]

Oversupply in Cambodia cause lots of black money going into building new condos/malls/even whole satellite cities outside PP

[Clutch Cargo]

OP, if you haven't seen it already, this topic goes into the issues of buying a condo here : general-chatter/should-buy-property-t47 ... 0a%20condo There are also other similar topics using the search function or look for 'similar topics' at the bottom of this link.

In addition to the posts above, my concern would be FOREX (at least in the immediate term). Dunno about $C but $A=$US.0.63 today....ouch!

[Tootsfriend]

I am assuming you are talking about property to rent for people to live in, then my advice is dont. It is also a investment that amateur investors get into, where as professional inverters would invest in commercial property. There is a big difference in the rate of returns between the two and in commercial properties it is the person or company that fits out the building to suite their needs. Unlike a private dwelling where it's you that pays for all renovations, and your tenant then wrecks everything, moves out and you start again.
Speaking from my many years of experience.

[Kammekor]

I currently own and rent out condos as my business in the western world. I’ve been doing research on Cambodia and considering moving there full time and transferring my business abroad.

What is everyone’s opinion on buying and renting out condos in Phnom Penh or any other city in Cambodia.

My biggest concern is the vacancy rates as there is lots of supply for rentals so I would be stuck with no one living in said units unlike where I am now that almost doesn’t exist with the demand here.

Any thoughts on having said business in Cambodia?

There's an oversupply so it's a renter's market unless you find a specific niche currently unfilled.

[rogerrabbit]

There are people who have "parked" their money in Cambodian properties and are not even expecting getting any rental income. Also there are lot of (local) people with loose money that might not be that much into property investment that they really understand what they are doing. They have their rental income expectation, which is many times very unrealistic, and they don't care if their units are sitting just empty for years. Because of these people it might look there are lot of vacancies in buildings. Then again the selling prices can be ridiculous as there is so much loose money on the market. If you can find a good deal then most likely the Cambodian property would make better ROI than your Canadian properties. Though I don't know anything about Canadian market but I imagine is more like European market (ROI being under 10% mostly).

But you really need to get here first and learn the market. I would say keep your property business in Canada and move here and then make decision after year or so.

[Mister Nice Guy]

Many expect property values to be 50 % of what they were September, 2022. That's in America. Deeper discount elsewhere.