Cambodia, home to the world-famous heritage site Angkor Wat is a beautiful country known for its rich history, tradition and remarkable architecture. Cambodia’s economy isn’t behind either, as it has been growing at an average annual rate of 7.7 up until 2019, before the pandemic hit the world.
Foreign tourists have returned, and a recovery in manufacturing industries is driving economic growth to new heights. Many Multinational companies have set up their base, and expats are moving to Cambodia for work and leisure. As the standard of living has improved for the locals and the number of expats settling in Cambodia, demand for Condominiums and apartments in Cambodian cities has increased.
For all those planning to invest in Cambodia’s apartments and condominiums, expert real estate agents’ expertise and assistance will help you find the best options. Connect with awarded real estate agents at IPS Cambodia to find the best options.
Difference Between Condominiums and Apartments in Cambodia
Individuals and families have different requirements based on economic status and family structure—people live in various homes, such as apartments, condominiums, houses, or villas. The experience of living in each residential type is unique. There has been an increase in the shift from apartments to condominiums over the years. Let us look at how the two are different.
- Apartments are residences with basic facilities such as elevators or parking spaces for their residents. In contrast, a condominium has full-fledged facilities like a Gymnasium, recreation room, party hall, play area for kids, walking track and garden spaces.
- Apartments are more affordable options as compared to more luxurious condominiums.
- A unit in a condominium is owned by an individual who may have bought it for himself to live or for investment. On the other hand, an apartment is part of a landlord’s entire residential building.
- An association of unit owners manages a condominium, whereas a landlord controls an apartment.
Best Condominium Listing at IPS Cambodia
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Phnom Penh
2 Bedroom Condo For Rent – Agile Sky Residence, BKK3, Phnom Penh: Located in BKK1, it is available for $1100/month. The unit has two bedrooms and measures a total of 55 sqm. The unit has a fully functional kitchenette with an induction cooker, built-in oven and kitchen cabinets. The unit has two bedrooms with queen-sized beds and one bathroom with all the modern facilities. It is about three minutes from Olympia Mall and the Russian market and about five minutes from the Russian hospital and the Royal Palace.
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Siem Reap
Studio Condo For Rent – Rose Apple Square, Siem Reap: At $500/month, this Studio is a good bargain—one room and a bathroom suit best for a single or even a couple. The uni also has a compact kitchenette and pantry. Besides all the modern facilities in the house, the highlight is a private balcony that brings fresh air and sunlight to the house. Located just four minutes from pub street and six minutes from the heritage walk and Wat Bo, it has amenities like a gym, playground and pool. This is a perfect place for golf lovers, as the Angkor Golf Resort is just ten minutes away.
Best Apartment Listings at IPS Cambodia
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Phnom Penh
2-Bedroom Apartment For Rent – 7 Makara, Phnom Penh: Located in Beoung Prolit, this unit is available for $800/month. It is 150 sqm, with a spacious balcony with a mid-city view. The apartment has a fully loaded-kitchen with all electronic appliances and a built-in stove. Strategically located, the apartment is five minutes from the Olympia Mall and ten minutes from the Russian hospital and the Royal Palace.
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Siem Reap
3-Bedroom Flat For Rent – Sala Kamreuk, Siem Reap: This three-bedroom flat is available for $400/month. It has one bedroom on the first and two on the second floor, with four bathrooms and two balconies. The apartment is fully furnished, an added advantage for the new tenants to help settle faster. It is about three minutes from Neak Tep Hospital and pub street. It’s located just across the bridge from the ISSR primary school. The theMakro supermarket is just about ten minutes, making it easier to get fresh stock regularly.
Conclusion
The Kingdom of Cambodia, a country in the southern peninsula of Southeast Asia, is no longer just a place for tourism alone. Due to its economic growth, it is increasingly gaining popularity amongst investors, Multinational companies and foreigners. The increased standard of living has also led to increased demand for residential properties that offer luxury and all the modern amenities to make life easier and better.
IPS Cambodia has been doing great work in providing and matching tenants with suitable properties which fulfil their requirements. The many filters on their search portal make it easier for the clients to view the listings of apartments and condominiums available in the market and within their specific criteria. Call now or book an appointment for free viewing with the best team of professional real estate agents who will guide and match you with the right fit.
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