Siem Reap is viewed to be the gateway to the most visited old temple worldwide, the Angkor Vat. Following the increased number of tourists visiting the Siem Reap, both foreigners and locals would surely want to grab some share in the local Siem Reap real estate market.
Not only that you will find fantastic opportunities to purchase residential properties, but it is also getting more popular to purchase restaurants and hotels as well.
The Real Estate Market of Siem Reap
Contrasted with its rival, Sihanoukville that obtains income from different enterprises than the travel or tourism industry, such as fisheries, and manufacturing, Siem Reap’s economy depends vigorously on the tourism industry. Indeed, it’s said that half of the Cambodians who reside in Siem Reap work in this industry.
Simply look at the numbers:
The travel industry has expanded enormously in Cambodia the previous years and above 5 million individuals visit the nation every year. Siem Reap gets over 2 million tourists every year, making an extraordinary contribution in the local real estate market.
Many individuals will surely agree that these numbers represent themselves.
As one of the most visited cities worldwide, particularly from countries like Korea, China, and Vietnam, the travel industry develops by 10% yearly on the average.
Siem Reap Property Prices
Both Sihanoukville and Siem Reap have seen some stagnation in the prices of property, and this may continue like for quite some time. However, with the fast-growing economy, Cambodia is expected to perform very well on long-term.
Where Should You Purchase Properties in Siem Reap?
Although Siem Reap is a small city, it is highly imperative that you obtain some guidance and assistance especially when it comes to picking a location. Some ideal areas where investors and foreigners are:
- Kouk Chak
- Sala Kanraeuk
- Svay Dankum
- Sla Kram
Many attractions are spotted in these areas, and numerous tourists visit these places.
Purchasing a Condo in Siem Reap
If you wanted hassle-free procurement but not the perfect yields, the condo is perhaps the perfect choice for you. The truth is, you can pay and own a condo unit under your name even as a foreigner in this country making condos highly-sought after choices.
Moreover, in Cambodia, about 70% of the entire units in a condo can be owned by foreigners, which is a bit generous as compared to taking, for instance, the Philippines or Thailand. Condos are easier to maintain and commonly have great facilities and amenities like gyms, pools and round the clock security.
If you are planning to purchase properties in Cambodia, Seim Reap is a perfect place where you can find the best properties. Property prices in Siem Reap are very reasonable and competitive. However, prices of properties vary.
Thousands of properties for sale can be found in Siem Reap. Work with the leading agent and expect to find your new property or investment today. Siem Reap property market will never fail to give you the most practical and ideal choices.