Angkor Grace Residence & Wellness Resort in Siem Reap is a holiday home investment available for both Cambodians and international buyers. Supplied.
Cambodia’s fast-growing economy has made it home to many expatriates and attracted a flurry of foreign investors. This influx of foreign buyers has also been influential in the progression of the Kingdom’s real estate sector with many developers molding their properties to popular designs abroad. But even foreigners cannot buy a home with a 100% payment right away, hence, the need for home loans.
There is a prevailing belief that expatriates or foreigners, in general, have a harder time getting a home loan. While it is indeed more challenging compared to locals, it is still possible for foreigners to get a home loan in Cambodia.
There are 2 primary loan sources in Cambodia: Bank loans and Developer loans. Bank loans are common across property sectors in different countries while developer loans are less so. Cambodia’s banking system has grown exponentially in the past 2 decades and bank loans are now more available to both locals and foreigners.
Getting a home loan as a foreigner
Not every bank offers home loans to non-Cambodians. Fortunately, there are banks such as RHB Cambodia, a Malaysian-owned bank, offering home loans to expatriates and foreign investors interested in Cambodian property.
Expatriates in the Kingdom and foreigners living abroad may be asked to present any of the following requirements when applying for a home loan:
If you are employed:
- Passbook / Bank Statement / 3 Months Payslip
- Employment Contract or Employment Certificate
- Work Permit (for expatriates in Cambodia)
- Curriculum Vitae (CV)
- National ID or Valid Passport
- Passing credit check from the Credit Bureau Cambodia (for expatriates in Cambodia)
- Sales Purchase Agreement
If you are self-employed or a business owner:
- Latest Business Patent
- Valid Business License
- Business Registration
- Bank Statement
- Financial Statement for the last 2 years
- 3 months sales or purchase invoice
- Company profile
- National ID or Valid Passport
- Passing credit check from the Credit Bureau Cambodia (for expatriates in Cambodia)
- Sales Purchase Agreement
These are the usual requirements for loans in Cambodia though keep in mind there may be other requirements depending on the bank. Nevertheless, having these at the ready will definitely help speed up the process and bank staff, especially from RHB Cambodia, are well-equipped to walk applicants through the process.
Additionally, new projects in Cambodia developed systems and partnerships with banks to fully assist non-Cambodians in purchasing a property. Prominent examples are The Peninsula Private Residences and Angkor Grace Residence & Wellness Resort projects that allow expatriates and foreign investors to own property in Cambodia be it for personal use or as an investment property.
What properties can I get a home loan for, as a foreigner?
The short answer is condominium units. This is because these are the only properties that come with a Strata Title. A Strata Title is a special title commonly used for condo unit purchases, and most recently office units, that are available to both Cambodian nationals and foreign nationals. To learn more about property titles, you can check our ultimate guide to property titles in Cambodia.
Cambodia’s property market has grown steadily over the past few years, its expansion has led to many developments not just in residential technology but also financial structures that allow both Cambodian and international buyers to access much-needed loan services. This increasing availability of loans to a wider market will be key to further establishing Cambodia’s status as a viable property investment destination in Southeast Asia.
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