Why should you buy a condo in Cambodia?
Living in a condo can save time for those who are working. The people of Cambodia are rapidly urbanizing, especially people between the ages of 25 and 40. These people want to improve their careers and start a business. And being in the city helps them achieve these goals. Here are the reasons why you should buy a condo.
1. Less housework
The condo is small compared to the villa and there is no yard or road for maintenance. This means that residents spend less time cleaning and maintaining their homes. In addition, many condos offer cleaning and utility services without interruption.
2. Everything at your fingertips
Condos are often built in the commercial district of the city center. This means you have access to everything the city has to offer and can get there quickly.
In Phnom Penh and Sihanoukville, condominiums are close to schools, hospitals, government offices, markets, restaurants, banks and more.
Condo offers more luxury than other types of houses. Having a gym, swimming pool and meeting room in your building means you do not have to travel much.
3. Community Feelings
Neighbors can help you when you accidentally lock out of your condo. Or maybe they become friends and you can grill with them on the weekends. The condo gives you the opportunity to connect with other people living in the same community.
4. condos are more useful than renting a luxury house
For the same level of luxury, it may be better to buy a condo rather than rent a house. The monthly payment will be similar but with the condo you will get it back in the future. For example, if you rent a twin villa, you pay between $ 1,500 and $ 2,000 a month.
5. Return on Investment
Condos can be profitable in two ways. First, they appreciate the value of the past year. Maybe you will choose to live there for 10 or 20 years. When you decide to sell, you get more than you pay for. Second, you can rent a condo instead of living there. Rental rates in cities in Cambodia can range from $ 500 to $ 2,500. This means you can start earning about 8% and 10% per year.
6. Low maintenance
The condo does not need constant repair. Due to its small size, maintenance is usually covered at least in part by building management.
7. Low starting price
The condo is affordable compared to the property next door. In fact, in Cambodia it is cheaper than in other parts of Asia. Many condo units for sale in Phnom Penh sell for just $ 60,000 per unit. It is slightly higher for units around the city's central business district, such as Chamkarmon, where the average starting price is $ 100,000. For one bedroom.
8. Flexibility
In general, condos offer more flexibility than land-based properties. The buying process is faster and there are more options. Although clusters are gaining popularity in the suburbs and suburbs, condos will soon be covering the streets of the city.
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