1- Condominium (Condo)
A co-ownership condominium operates under a single building management, where individual units are sold to co-owners by the original developer. Each co-owner has the flexibility to either move in or rent out their unit as an investment.
The condominium holds a strata title, ensuring each owner has legal ownership of their respective unit while sharing responsibility for common areas and facilities.
For condo rentals, services are not automatically included and depend on negotiations between the tenant and the unit owner. Living costs in a condominium typically include the building management fee, parking, and any additional services required. However, tenants can always discuss with the owner whether certain services should be included or excluded in their rental agreement.
This structure provides both residents and investors with flexibility, making condominiums an attractive choice for comfortable living and rental income generation.
2- Apartment/Flat
An apartment/flat typically refers to a residential unit above a shophouse property, where the ground floor is used for commercial purposes and the upper floors are residential. It can also refer to a single apartment unit that has been renovated or converted into a residential space within a flat house, usually between the first and fifth floors. These buildings generally have a shared staircase used by neighbors for access to upper floors.
Ownership titles vary depending on the floor level. A hard title is usually granted for units on the ground floor, first, or second floors, while the last floor or any additional floors built on the rooftop typically receive only a soft title, acknowledged at the Sangkat and Khan levels.
Living in a flat or a renovated flat does not require management fees. Most of these properties do not have dedicated parking lots, and utility bills are charged at state rates, directly from government supply.
3- Serviced Apartment
A serviced apartment refers to a residential building with multiple units owned by a single company or private owner, managed under one unified management. These buildings are exclusively for rental purposes and are not available for sale.
Serviced apartments provide comprehensive services, including 24-hour security, free access to all facilities within the building, regular cleaning services, high-speed internet (WiFi), cable TV, and optional laundry services. Maintenance for all types of repairs and fixes is also included. The only additional costs beyond the rental price are typically for electricity, drinking water, or cooking gas.
4- Borey (Gated community)
Borey refers to a gated community of landed houses or villas with security, rules, and regulations. These houses are built by a single developer and sold to individual homeowners. Some homeowners live in the property, while others rent it out.
Living in a Borey comes with lower utility bills paid to the government, as the rates are lower compared to those in condominiums or serviced apartments. Tenants are responsible for maintenance and repairs during their stay, while the owner is only responsible for major structural issues, roof leaks, plumbing, and electrical problems.
Living in a Borey requires a long-term commitment, with a minimum contract period of one year.
Please contact us for further information about property types in Phnom Penh!
