Siem Reap serves as a doorway to enter one of the paramount wonders of the sphere, Angkor Wat however. It also holds the magnetism of attracting the people at a significant level. It is one of the hot tourist spots for travelers worldwide, which is located precisely the north-west part of Cambodia.
The picturesque city is located near the shores of the lake Tonle Sap, which has the greatest sweet water reservoir in the province of the country as well as in South-east Asia. The actual name of this province is coined praising the victory of the Khmer Empire after defeating the Thai kingdom during the 17th century.
Climatically this country is warm and humid throughout the year. The best time to visit would be the months of October until March, for the foreigners to enjoy the wonder of stone crammed provinces. However, the people during this region are around a few lakhs, but the foreigners who visit this province are more who are eager to explore the different regions among the town. This town has around 11 districts and one municipal corporation that are further divided into 907 villages.
Learn about Investment opportunities:
The rise in land prices is due to many subsidizing factors like increased number of tourists in last few years, booming retail markets, restaurants, hotels in nearby places of Angkor Wat, relaxed government policies, and so on. A foreigner can seek this as an opportunity to invest in the booming city.
When Investing in a Land:
Holding property under the name of a foreigner needs proper documentation and safe procedures, under the Land law of Cambodia. One needs to abide by those restrictions while investing in the property.
A foreigner can invest in land along with the Cambodian citizen either by choosing any one of the options as follows;
- Registering under the name of Nominee
- starting a business firm
- entering into a long- term lease agreement
- getting a land concession
- getting married to a Cambodian citizen
Investing in Condos, the best option:
When a foreigner wants to free from hassle lifestyle, not expecting on too many benefits and returns, buying a condominium will be the greater choice of investment. A foreigner can occupy either on the first floor or above but not on the ground floor due to restrictions. Although around 70% of condos are possessed by foreigners and it is one of the best options to invest. As a foreigner can hold condos on his name. It seems to be one of the smartest ways to spend in the flourishing provinces of tourists, easy maintenance with many amenities including swimming pool, gym, security services at 24/7, and a lot more.
Best places to invest in Siem Reap:
Most of the people living are dependent on tourism, and if any foreigner wishes to invest in Siem Reap new homes, primarily to accommodate the tourist, the best places to start with are as follows;
- SvayDangkum is the best place to start with investing in Siem Reap. It is predominantly a domestic area, and one can explore new villas and condos at the best prices.
- Sla Kram, one of the predominant city center regions, makes it ideal to invest. It is gaining limelight in recent years due to the proximity of the city.
- Sambour is also one of the best places to spend as it is likely to be developed in the next few years. It is located in such a way that it has good access to the ring roads.
- Sra Ngae is situated in the Krong Siem Reap area, and it is also nearby to the city center, seems to be a lucrative investment option.
- Wat Damnak is one of the famous tourist spots consists of commercial developments and residential properties. It is also one of the ideal places for future investment.
- Wat Bo in Siem Reap is a city of commercial along with a few residential properties. It is the home of the famous Wat Bo temple.