Compass Real Estate > Cambodia Investment Guides > Real Estate Policy > Buy and Sell Policy > A Condo With Strata Title Purchase Benefits for foreigner

A Condo With Strata Title Purchase Benefits for foreigner

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2022-12-29
Summary:Condominium or condo is similar to but easily labelled living space. Over time, condo-living has become increasingly popular. Many people like to live in a condominium for a number of reasons. Some of the major benefits of living in a condo are: Maintenance reduced, safety, accessibility and amenities.

Condominium or condo is a similar type of living space, but easily labelled. Condo-living is becoming more and more popular over time. There are several reasons why many people like to live in a condominium. Here are some major advantages of living in a condo: reduced maintenance, safety, amenities and accessibility.

Note that older condos are more expensive when you plan to buy a new condo. And it is recommended to read the governing documents thoroughly before making the decision. We'll discuss the benefits of the purchase of a strata condo in this post. 

In Cambodia, the title of the strata refers to the ownership certificate for each unit in a joint property. Strata title is the latest type of holding, enabling foreigners to possess property legally in Cambodia. Consider some advantages of buying an apartment with the title strata:

1. The foreigner can buy property

Cambodia has various titles of property: soft titles, hard titles, LMAP titles, and strata titles. Foreign citizens may not buy property under the soft, hard or LMAP titles of these four titles. You will have to own the property under the strata title if you are a foreign national interested in the purchase of an apartment in Cambodia. One of the main advantages of the title of strata is that foreign nationals may own the estate.

2. Services

As we have seen, both foreign and Cambodian citizens can own condo property with strata in Cambodia. Most people love their properties with amenities. It's a great idea to purchase a condominium if you love various facilities, such as a gym, beauty salon, swimming pool etc.

3. Security 

As the owner of the property, you want to buy risk-free and secure property. It's good to buy a condo if you're extremely concerned about security. It may have locked or gated entries, door guards or security professionals, depending on the condo. If you are someone who lives alone, then security will be the most important aspect for you. Living in a condo will reduce the risk factor.

4. Achievement

Their affordability is another thing that makes condos better than homes or other properties. Usually the price of condominiums is less than the cost of single families. If you don't have a one-family home from your budget, you can have a condo. The average selling price for a single family house is, according to NAR (National Association of REALTOR), about $260,000, but an average condo selling price is about $248,200.

5. Assessment

The appreciation is another major benefit of owning a condo. When you compare the historical prices of condos with the current price, the price is increasing. Although the condo price is slower than single-family homes, this can still be an excellent choice for both Cambodians and foreigners to invest. According to The Washington Post, between 2012 and 2017 the market value for condos has increased by 38.4 percent.

Compass Real Estate can help you if you plan to purchase a property in Sihanoukville, Cambodia. On our official website we have various types of condos for sale. We can help you if you want to sell or rent any Cambodian property.

Source : Compass Original

Disclaimer: The re-forward articles on Compass website are for the purpose of conveying more information, and it does not mean that the Compass website agrees with its views or confirms the authenticity of its content. Article noted as "Source: Compass original", please note that the source from Compass. The content of the article is for reference only and should not consider as investment advice, and it does not mean that Compass agree with its views.

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