Want to start living in a kingdom of surprises? It is one of the best places in Asia to stay as an expat. There are currently over 100,000 foreigners living here, and life is good. To help you, Real Estate has compiled Cambodia’s Expat Guide.
Where is Cambodia?
Cambodia Real Estate is in Southeast Asia. On the map, it sits between Thailand and Vietnam and below Laos. The southern coast of Cambodia is far from the Gulf of Thailand.
From 800 to 1300 AD, the Khmer Empire covered most of Southeast Asia. One of the great legacies of this period is the Angkor Wat temple in Sam Rap. This site is one of the most important religious monuments in the world. From 1867 to 1953, Real Estate Cambodia was a “protector” in the area known as French Indochina. Cambodia is still heavily influenced by French heritage.
The second most famous period in the history of Khmer is the infamous Khmer Rouge era. This highly Maoist government led by Pol Pot ruled the country from 1975 to 1979. In his short time, the Khmer Rouge committed the world’s worst genocide. About 2 million people were killed, or about a quarter of the country’s population.
Religion in Cambodia
About 97% of Cambodia’s population practice Theravada Buddhism, the official religion. However, the influence of the country’s Hindu past can still be felt, especially at historical sites. About 2% of the population belongs to the Cham ethnic group who practice Islam. In addition to the small Christian groups in the country, there are many ethnic religious groups in the north.
Cambodia, by definition, is a constitutional monarchy. The king’s power is mostly symbolic. In practice, Cambodia is a parliamentary democracy. Hun Sen, the current Prime Minister, has been chairing the National Assembly since 1985. His Cambodian People’s Party won re-election in July 2018 for another five-year term.
What Language do they speak in Cambodia?
Khmer is the official language of Cambodia. It belongs to the same Vietnamese family. Basic English is widely spoken in Cambodia, and Mandarin Chinese is gaining ground. However, many foreigners who come to Cambodia learn at least a few simple phrases. Now that you know a little about the country, it’s time to plan your trip to Cambodia. Living in a new country can be stressful at first.
The Currency in Cambodia
Cambodia uses both the US dollar and the Cambodian rail. The exchange rate is 6,000 Riel to 1 USD, and there are no coins. More places are accepting digital payments, but cash is still the default currency in Real Estate Cambodia. The situation around the currency in Cambodia is a bit strange. People use USD for large payments. However, shopkeepers are very specific about the status of bills. Bills of $ 100 or $ 50 with small tears will be rejected. Rail, on the other hand, is usually used in small quantities.
Cost of living in Cambodia
The cost of living in Cambodia Real Estate is very low. However, it all depends on your lifestyle. The three main expenses of living here are probably rent, food and entertainment. Let’s break them down one by one:
Rent Cost in Cambodia
Rental fees can vary widely depending on where you live, what type of accommodation you have and whether or not you have roommates.
l You can get space in a shared apartment for less than $ 150 per month, or in a luxury building for up to $ 500 per month. On average expect to pay between $ 400 and $ 600 per month for each bedroom.
l You can rent authentic Cambodian digs for less than $ 300 per month.
l Western-style luxury apartments, called serviced apartments, are the best. You can find them for $ 500- $ 2,000 per month. They are usually fully furnished and the buildings have pools, gyms and security. We’ve got you covered here too. Start browsing to find condos for rent in Phnom Penh.
l You can track price trends using our Cambodia Real Estate Trends tool.
Property in Cambodia
You can buy Property in Cambodia in four different ways. This process is neither risky nor easy if you have never been involved in the Cambodia Property Market. Therefore, I recommend that you seek the services of a reputable property lawyer and real estate agent as soon as possible who can guide you through the buying process. Let’s look at four different options you have when buying land as a foreigner.
l Buying Land Through a Cambodian Company
l Setting up a Leasehold Agreement
l Buying Land by Obtaining Cambodian Citizenship
l Buying Land With the Help of a Cambodian Nominee
There are the largest international airports in Phnom Penh, Siem Reap and Sihanoukville. If you are coming from far away, you will usually reach via other regional hubs like Kuala Lumpur, Singapore, Hong Kong, Bangkok or Taipei. Cambodia’s airports are small, but that means it’s easy to get in and out. He said that with the increase in the number of tourist arrivals every year, more and more flights are being added. As far as baggage and security are concerned, Cambodia’s airports are generally similar to any other country. The main airports have also seen several upgrades and new airports are being built in Phnom Penh, Sam Rap and Koh Kong.
Reasons to Invest in Cambodia
Here are many reason to Invest in Cambodia :
l Close to Thailand similar language and culture
l Open economy
l Competitive Incentive Investments
l Fast Track Investment Approval Process
l Low Labour Cost
l Strategic Location
l Preferential Trading Status ; MSN & GSP
l Access to ASEAN and World Markets
Best place to live in Cambodia
Most foreigners who come to Cambodia live in one of the three largest cities. Phnom Penh, Siem Reap or Sihanoukville. There are some small towns that attract both tourists and long term visitors. Kampot, Kep, Battambang and Koh Kong are also famous. Finding the best place to live in Cambodia is about your desire.
If you like luxury, Phnom Penh is probably the best place to stay in Cambodia. However, if you love nature and art, then maybe Sam Rap is the place for you.
How many expats are there in Cambodia?
It is difficult to say for sure how many foreigners there are in Cambodia. There are currently between 150,000 and 200,000 foreigners in Cambodia. In 2018, the government stated that the total number of foreigners in Cambodia was 160,000, and since the introduction of the FPCS app in 2020, approximately 160,000 foreigners from 183 countries have resided in Cambodia.
Asian and Western expats in Cambodia
Immigrants from Asian countries to Cambodia are mostly foreigners. These include Vietnamese, Thai, Malaysian, Indonesian, Japanese and Filipino. Cambodia also has a large number of Western immigrants. Most are French, British, Australian and American. However, many other Europeans also live here.
Cambodia is expat-friendly
Cambodia has consistently been in the top five for the most immigrant-friendly countries in the world. The local population is helpful and kind. Making friends is easy here. In less than a month, you will be invited to a Cambodian wedding. It’s easy to make friends with both locals and foreigners. It is very common to make friends with co-workers. Many offices have soccer teams or go out drinking together.
Start your own business in Cambodia
Many people come to Cambodia to start their own businesses. Overhead is low, and the Cambodia market is growing fast. Many people choose to open bars, restaurants, guesthouses or tour companies. There is also a growing market for big companies.