Finding the perfect home to buy or rent is an exciting yet challenging process. With the right search strategy and tools, home seekers can effectively navigate the complex real estate market.
Expert real estate agents can provide invaluable insights, access to inventory not publicly listed, and guidance on negotiations – especially for first-time home buyers unfamiliar with the process. Using an agent and conducting your own search increases the likelihood of finding an ideal home in the desired location that meets your budget.
Are you also looking for apartments in Phnom Penh? If yes, then this guide by the local real estate agents in Phnom Penh, at IPS Cambodia will assist you. ensuring a seamless and hassle-free apartment hunting process, expert real estate agents at IPS Cambodia assist investors with listing, paperwork, legal documentation and after-services including management and other aspects. Connect with the experts now to know more.
And if you’re here to find the apartment hunting tips to make your search easy, scroll down to the details in this blog below to explore!
Overview Of Phnom Penh’s Real Estate Market
Phnom Penh’s real estate market has been growing rapidly in recent years, driven by Cambodia’s economic development and rising foreign investment. As the nation’s capital and largest city, Phnom Penh has seen significant real estate construction and increasing property prices.
In the housing market, more Cambodians are moving to Phnom Penh seeking jobs, leading to rising demand for housing. Many new apartments, condominiums, and gated housing communities have been built to accommodate mid-range and high-end buyers. Property prices in central areas and for higher-end units have increased substantially. However, cheaper options are still available further from the city centre.
Tips For Apartment Hunting in Phnom Penh
Apartment hunting in Phnom Penh can be overwhelming because of the variety it has to offer. That is why it will be better to consider these tips, as they will help you in finding the right place sooner.
● Plan For Apartment Hunting Determine Preferences
One of the factors to consider while finding the right apartment for yourself is the size. The bigger the size of the apartment, the higher the rent or purchase price. If you are single then a one-bedroom apartment will be sufficient for you, and if you are a couple or small family, then it is best suited to rent a three-bedroom apartment. There are a variety of apartments that you can look at, which includes serviced apartments, studio apartments, duplexes, lofts, etc.
● Assess Budget Considerations
Always consider what your pocket allows you. There is no point in going above and beyond if you can’t sustain. Make a list of all your expenses which should include the rent, basic utilities and other expenses mandatory for you. It’s important to determine your maximum limit.
IPS Cambodia has a variety of affordable apartment options in Phnom Penh, which can cater to your needs based on your budget.
● Research And Visits
Once you have analysed your requirements and budgets, research the kinds of apartments you can get. In this, IPS Cambodia can help you by showing some of the best listings they have to offer you based on your affordability. You can also visit their website, and know the wide variety of listings with detailed information.
After selecting a few apartment options in Phnom Penh, you can request a property viewing with IPS Cambodia, where you will be allowed to visit the property and check the location and the amenities, but all assisted by an expert.
To make an informed decision, check for all the details mentioned in the listing. Inspect the condition of the apartment and check for the damages. While inspecting the apartment, click pictures of any damage so that you have proof in case of any disagreement with the owner.
- Checking Facilities
Checking for the facilities is very crucial. The facilities that the apartment has to offer should align with your requirements and your lifestyle. Some of the most basic facilities to look for include –
- Fitness Centre
- Swimming pool
- Kitchen appliances in the apartment
- Laundry service
- Parking facility
- Wheelchair accessibility and lift
- Lounge area
However, these are some basic facilities, and there can even be more in the list.
● Safety And Security
Safety and security should always be the point of concern. It is extremely important to know the security aspect of the building your apartment is in. Surveillance cameras, access card systems, security systems within the apartment, and 24/7 security personnel at the entry gate are mandatory services.
By incorporating the security aspect while apartment hunting, you will be able to make an informed decision that will prioritize your security and well-being.
● Understanding Legalities, Documentation, And Cost
To ensure a smooth transition into your new apartment, understanding the legalities is important. Finding the Cost associated with renting or buying an apartment, and documentation required for the same can be a very complex task.
With IPS Cambodiaexperts, this will not be a problem. They can take care of all the legal formalities and sort out the documentation for you. Understanding the lease agreement, security deposit associated with it, house rules etc is important for clarity. In case of any confusion or problem, IPS agents can help you and they can negotiate for you.
Finding Your Next Home with IPS Cambodia
IPS Cambodia is a prominent Real Estate Agency in Cambodia. It does not matter if you are an expat or a resident, IPS can offer its expertise in all the fields. They can help you in investing in land or a condominium, an apartment, a flat, or a villa. With an experience of over 10 years, they have a variety that no other has to offer. Their expert agents and knowledge of the property market of Cambodia can help you negotiate a very beneficial deal.
With IPS as your trusted partner, the journey of finding a new home in Phnom Penh will be a seamless process. From property visits to legal documentation, IPS agents can help you with it. Connect with the experts now for a seamless-apartment-hunting procedure in Phnom Penh!
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