How to own a land with hard title in Phnom Penh’s CBD and build your dream villa?

Have you ever imagined about owning a piece of land and building a unique villa designed by yourself? In Cambodia, you can turn this dream into reality.

For Chinese people, hard title property rights are very attractive and best for investment; for western people, it is high-quality and low-cost which is very suitable for vacation and retirement; and for local people, it is the collection of residence and wealth.

It can be said that Cambodia real estate is suitable for investors from around the world, and land remains to be an area with the highest investment value.

So, how does one own a land with hard title in Phnom Penh’s CBD and how does one build their own dream villa?

Generally, there are two ways to buy land and build houses in Phnom Penh

At present, buying land and building houses in Cambodia real estate market can be divided into two situations:

⒈Buying a vacant land

After purchase, the land and receives necessary construction permit from the government, allowing the buyers to find a construction company to design and build their house.

⒉Buying land in a community

the buyer chooses to purchases the land in a Borey developer's community, in this case the developer is responsible for the government application and the construction. Of course, buyers can choose their favorite style, house type, and this cut down time and energy. At the same time, the facilities and environment in the community are pretty good.

However, no matter which way you choose, their basic processes are similar.

Choosing the land

▲Two River Residences's site photo

If you want to build a villa, the first step you need to do is to choose a land. For any landed-residence, it is not the house that increases the value but the land, so the selection of a good land is very important.

The main factors in determining the price of a land are its location and how much living space can be built on this land. 

At the same time, when buying land and building houses, especially villas, you’ll also need to consider the comfort of living, the land area, the direction, flatness, its shape, and underground pipelines….

In Phnom Penh, Koh Pich is a prime land that meets the above requirements. As the first successfully developed satellite city, Koh Pich is located in central Phnom Penh, with variety of facilities such as a Convention & Exhibition Center, Koh Pich Theater, a Wedding Hall, an international school, office buildings, high-end residential villa communities, and major parkways.

▲Map of Two River Residences 

More importantly, Koh Pich is also the first area in Phnom Penh to adopt a holistic urban planning concept. Whether the power supply system, the underground pipeline drainage system, or the distribution of roads and building functions, they have all been scientifically researched, this is important for Cambodia, which has a long rainy season and an improving infrastructure.

Koh Pich was developed and transformed in 2006, and has since become a prime CBD in central Phnom Penh. There are very few lands that are directly sold for residential construction here, most of them now are villa communities and condo projects that have been built by developers. Therefore, the land available for residential development is becoming increasingly scarce. 

Only through newly launched projects such Two River Residences is selling land. At present, there are 19 villa plots available for sale in its first phase.

Customized design and choosing a date for construction

▲Mock Up House Model

Is it possible to build your ideal home directly after buying land in Cambodia?

The answer is not exactly! In Cambodia, a construction permit from the government is required for building property.

To apply for a construction permit, you’ll need to provide a Cambodian identity card, land title, architectural Plan and other relevant legal documents. The time limit for reviewing the application is 45 working days and the cost depends on the building area and property type, for villas, one has to pay about 600,000 to 1,800,000 riels.

The land of Two River Residences Koh Pich is a land plot divided in the community. After purchase, the developer will assist in applying for a construction permit, which saves time, energy and money for the customer.

In addition, the developer will also provide services such as design, ground working, framework building, floor slab laying, electrical and plumbing working, etc., until the part of construction is finished. The developer can also provide decoration services as the owner’s requirement.

▲Two River Residences model house sample

At this stage, it is necessary to pay attention to the quality and reputation of the developer, and the building rules, choose a house width that fits the land size, and the interior layout, and also confirm the final cost, building materials, handover time and standard with the developer in the contract.

The Two River Residences project is developed by OCIC, which since its inception, has invested in variety of transformational projects, from condo’s, Borey communities, office buildings, convention and exhibition centers, schools, hotels, shopping malls, leisure and entertainment centers, bridges, an international airport, satellite cities and much more…. The group plays a prominent role in the construction and real estate of the kingdom. Therefore, customers have ease of mind when doing business with OCIC, as the quality is certified and guaranteed.

Receive the Key and do house inspection

Before the construction of the house is fully completed, the owner has the right to enter the house for an inspection to see if there are any places that need repairs and adjustments. 

If everything is fine, and the residence permits are duly processed, the owner should pay the remaining fees, and the developer will notify the owner of the final inspection and handover of the keys. Finally, you will have your own land and dream home built in the style of your choice.

Land area for sale in Two River Residences ranges from 450㎡-1055㎡, which supports loans, monthly payment of only 1%, the developer also provides interest-free installments up to 15 months, and another discount.

It should be mentioned that there are six legal ways for foreigners to purchase land in Cambodia. Among them, finding trust company is one of the methods and also one of the services that OCIC can provide through its affiliate Cana Trust. 

According to data from the Cambodian Valuers and Estate Agents Association (CVEA), the land price in the district where Koh Pich is located has reached $7,200/㎡, which rank it as one of the tops in terms of land prices in Phnom Penh, known for its strong ability to appreciate in value overtime.

Buy a piece of land, own a villa with front and backyard gardens, live a successful and beautiful life with Two River Residences!

▲Master plan of Two River Residences