As Cambodia’s property market continues to boom, the number of foreigners eager to invest in housing is also rising.
With Cambodian property laws allowing foreigners to purchase accommodation above the ground floor in buildings with a strata title, the investment market is thriving.
Maybank is on hand to help foreigners looking to invest in the property.
We offer housing loan for completed properties with strata title issued, as well as for properties still under development (even if the strata title has not been issued) for properties that we have a special arrangement with
We finance properties in Phnom Penh and other major provinces, for investments purposes and for owner occupation. For foreign buyers, we can loan up to 50 percent, or $500,000, on the property valuation or purchase price of the property, whichever is lower. The tenor of the loan can be up to 10 years, or until the age of 65, whichever is earlier.
For Cambodian locals seeking a housing loan, a minimum combined annual income of $12,000 is required, with loans of up to 70 percent of property valuation or purchase price of the property, whichever is lower, and for a tenure of up to 25 years.
We also offer our housing loan customers attractive interest rates to take up a car loan as a bundle.For more details, customers are advised to discuss their financing needs with a Maybank Relationship Manager, who will be able to advise them on the products most suitable based on their needs and the financing terms.
Our current housing loan promotional interest rate is 6.88 percent p.a. for completed properties and for owner occupation.
We also offer financing bundles of up to 100 percent of the property value.
Help is also on hand for those with difficulty repaying loans. Advisors are available to restructure customers’ existing loans, for example stretching a house loan of 15 years to a longer period to reduce monthly payments.
To further increase convenience and accessibility, we are able to leverage on our regional network and presence to extend mortgage facilities to facilitate investment overseas such as the purchase of overseas properties.
Premier Wealth customers can take up a loan with Maybank in various countries, including Malaysia, Singapore, Australia and/or London.
The mortgage facility is also available in various currencies (GBP, SGD, AUD, USD, MYR) depending on where the property is located. We can match the financing currency to the asset currency to reduce foreign exchange exposure on loan repayment and to off-set any rental income in domestic or purchase currency.
Interested parties are advised to speak to our Maybank staff on recommendations on the best loan solutions on their needs.