Siem Reap is a relatively small town with big benefits, having a wide variety of properties such as villas for sale and villas for rent around the area. This is according to the Independent Property Services Country Manager, Grant Fitzgerald, during his interview recently with Realestate.com.kh. He also gives a brief background and what he thinks about the villa market in the Siem Reap area.
Are Villas in Siem Reap Readily Available?
Fitzgerald says there are a lot of affordable villas here, some with a gardens and two to three bedrooms. These start at about $450 per month. Adding amenities such as a pool would increase this to around $1,200 a month. He adds that there are also new standalone villas, as well as villas inside gated communities - boreys - that are also coming up. He describes them as having gardens, pools, parking spaces, security, and being well-designed. These, according to him, makes Siem Reap an attractive area for both locals and expats looking for the villa life.
Why Are There More Villas in Siem Reap Than Phnom Penh?
Land prices remain lower in Siem Reap, according to Fitzgerald. This makes it affordable for expats and locals who plan on owning family-oriented properties. He also says that Siem Reap has traditionally been a relaxation and vacation destination for locals and expats. Holiday homes owned by locals in Siem Reap become rental properties for most of the year that the family isn't using it. These properties become rental villas, usually targeting affluent expats, for additional income.
What Are the Pitfalls of Buying or renting villas in Siem Reap?
Amidst the positive outlook towards villas in Siem Reap, Fitzgerald says that the major drawback of purchasing a villa is the maintenance and utility costs. Comparing it to the serviced apartment market, he states that there’s a huge responsibility that comes with villas. People don’t realize how much work, time, and money they are actually supposed to put into the property in order to maintain it. This task is even bigger when you decide to take on a villa with a pool or garden.