If you are unfamiliar with Cambodia you might not recognise the term borey. The word originally meant a town or city, although it now refers to the gated communities that you can find in many parts of the country.
Who can buy property in a borey?
Only Cambodians can buy a property in a borey, so this is not an investment opportunity for any expatriate foreigner living in the country.
Do your research on the borey developer
Borey in Cambodia can suffer from similar issues to condos. So if you are considering buying a borey in Cambodia you should choose a trusted developer rather than one with little or no track record. Ideally you should examine other completed developments by the same company.
Buying and selling borey properties
As borey can only be sold on to Cambodian buyers, this can deflate the potential sell-on price of the property, something you should consider when deciding whether or not to purchase a property in a borey in Cambodia. However, especially if you are a first time buyer looking for a foothold in the property market, buying in a borey could represent excellent value for money.
If you can, it is a good idea to scope out a borey before purchasing, especially if you are buying from the current occupier. While certain borey have a great sense of community, others can feel quiet, as many people buy a property in a borey in Cambodia as an investment. Of course, silence might be exactly what you are seeking when deciding on which property to buy in Cambodia.
Finally, it pays to carry out due diligence when buying a property in a borey – as it does when purchasing any property in Cambodia. While zoning rules do exist in some borey, others take a more liberal stance to urban planning, which means you could discover your property is next to a noisy business. It pays to find out exactly what you are buying into before you commit your hard earned cash.
If you are interested in borey properties then explore more on our Borey in Phnom Penh page.