Why invest in real estate in Bali?
06/11/2024
Bali real estate Investor tipsCambodia’s2nd-largest city, Siem Reap is home to the temples of Angkor Wat, a UNESCO World Heritage Site that welcomed 2.6 million tourists every year until 2019.
Siem Reap is a cultural and tourist hub, but is also economically dynamic. Indeed, the city is increasingly attracting well-off Cambodian professionals and expatriates looking for a quieter place to work than the capital, while retaining a good level of infrastructure.
However, unlike Asian capitals such as Bangkok or Phnom Penh, Siem Reap has the particularity of not having any “vertical” development with tall buildings over twenty floors. This is due to strict construction standards limiting the size of buildings to preserve the landscape and environment around the temples of Angkor Wat.
Conversely, the city’s objective is not to “spread out” over several hundred km2 – as can be seen in large American cities – as this would make the city dependent on roads and the automobile, and reduce the quality of life in the suburbs.
Siem Reap’s challenge is to develop by optimizing its urban space, town center and accessibility to services. To achieve this, the construction of “mixed” buildings combining residences, shops, offices, parks… is a good solution, already implemented by leading property developers in Siem Reap.
For investors, buying in a mixed-use development in Cambodia, and more specifically in Siem Reap, means taking advantage of both a diversified clientele and a property that meets the country’s needs in terms of urban development.
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