Cambodia’s shared economy means a system where customers and businesses temporarily borrow, rent, or share real estate property rather than owning or purchasing them. This ecosystem is usually expedited on virtual networks or through real estate agencies where the demand and supply are feasible for the investors.
Since shared economy real estate is still an emerging sector in Cambodia, looking for reliable and trustworthy options remains a prerequisite for a safe and secure investment. If you plan to invest in Cambodia’s Shared Economy Real Estate, local real estate agents from IPS Cambodia will help you with the best options.
But before that, let’s first get an overview of the shared economy real estate sector and how it benefits local and foreign investors!
What Is The Shared Economy In The Real Estate Sector?
The real estate sector is completely transformed due to the shared economy, creating potentials and opportunities and interrupting the conventional business approaches to make money through their property. It is also called the gig or the collaborative economy, where the trend of people renting or sharing their services or assets to those who prefer sharing temporarily rather than investing in it completely.
City-goers’ and investors’ requirements have increased the demand for a shared economy. However, it significantly impacted the housing sector since people prefer sharing rather than opting for huge investments in owning a property.
People found it much more convenient to share a property since it greatly benefitted them. Instead of having huge expenses, students and the young population preferred sharing utilities, maintenance expenses, rent, and bills and avoiding the burden of huge investments.
The Benefits Of Investing In Cambodia’s Shared Economy Real Estate Sector
● High Rent
Investing in the shared economy in Cambodia’s real estate has provided additional earning sources for owners. They rent their properties, making it possible for students, people starting their businesses, or travellers looking for short-term accommodation.
This system has led to high rent and declining cost-effective accommodations. However, the shared economy continuously evolves and grows even if the high rent is a major concern.
● Low Barriers
Barriers to entry to the property without significant upfront finance are minimal compared to entering regular properties. Barriers to entering are minimised due to the affordable shared housing plans. Therefore, it becomes convenient for ex-pats, students, the young population, and new investors to get hassle-free accommodation.
● Tax Incentives For Investors
The Cambodian law provides many tax incentives for investors. A professional can guide you about the tax incurred or the incentives on tax. Expats residing in the Cambodian region can also benefit from exclusive deductions and exclusions, including the Foreign Housing Exclusion.
● Rising Demand For Shared Economy
Cambodia’s real estate market is witnessing the rising demand for a shared economy because of its affordability. This system is more cost-effective than the standard housing options since people sharing the property can share their expenses, including utilities, rent, etc.
It greatly minimises the cost of living since people in shared property share furniture, appliances, and other resources. It allows them to save their expenses of utility bills, appliances, maintenance, and other associated costs.
Conclusion:
Cambodia’s economy has witnessed considerable growth in the past two decades. This growth is due to the Canadian government’s approaches and efforts, improved property tax administration, and other reform programs. The regulatory policies for shared economy management and usage have also contributed to the demand for the system.
A shared economy significantly impacts the real estate sector, providing diversity, accessibility, and affordability to the residents. Potential risks may be involved in such housing, but this system offers people, specifically the young generation, flexible and affordable living.
IPS Cambodia helps people find reliable and cost-effective shared properties that will help them with significant money savings and convenient living when their properties, maintenance, and expenses are shared. Their professionals will assist you in getting the shared economy at the ideal location and affordable cost.
Connect with the rewarded local real estate agents in Cambodia now to know more about the benefits and options for Cambodia’s shared economy real estate sector.
