Looking for a relatively accessible urban condominium as a standalone asset → Cambodia usually offers a lower entry point.
If a resort-led lifestyle purchase within a regulated foreign-buyer scheme is the priority → Mauritius.
It depends on your objective and time horizon; this compares markets, not two specific properties.
Mauritius packages approved property with island living and a residence route above the qualifying threshold; Cambodia offers a far lower USD entry point and year-round urban demand without that migration benefit.
Cambodia and Mauritius sell almost opposite foreign-property propositions. Cambodia’s typical investment is a strata-title apartment in an urban condominium, acquired for long-term rent, personal use or a relatively accessible position in a developing market. Mauritius built much of its international segment through approved IRS, RES and PDS developments: villas and serviced residences where the legal route, resort environment and potential residence permit above a qualifying purchase threshold form part of the product.
The legal map is now broader than “foreigners can buy only PDS”. Current rules also allow certain apartments in buildings of at least ground plus two floors, subject to a prescribed minimum price and approval. That route does not automatically carry the residence benefit attached to a qualifying higher-value acquisition. A cheap apartment in the ordinary domestic market is therefore not as freely accessible to a foreign buyer as an eligible Cambodian strata unit. The permitted category comes first; project, price, approvals and resale conditions follow.
The income logic is different too. Phnom Penh serves offices, schools, international companies and urban households throughout the year. Mauritius can offer beach access, a global lifestyle brand, personal-use weeks and international guests, but holiday income depends on season, airlift, operator performance, marketing and owner-use restrictions. Every threshold, charge, price and yield below is indicative and must be reconfirmed with the EDB, notary and tax adviser for the exact transaction.
Rules and deal terms can change; check the exact unit, current documents and contract before committing.
| Criterion | Cambodia | Mauritius |
|---|---|---|
| Accessible entry | often US$40k–100k | G+2 from MUR 6m |
| The G+2 threshold does not itself grant residence; confirm current eligibility. | ||
| Residence route | not automatic with purchase | from US$375k |
| The Mauritian permit generally continues while the qualifying property is held. | ||
| Ownership channel | strata, 70% quota | PDS/IRS/RES or G+2 |
| Foreign buyers may use only an authorised category with required approvals. | ||
| Land and villas | direct foreign ownership restricted | through approved scheme |
| A villa label does not prove foreign eligibility for the land. | ||
| Settlement currency | USD price and rent | MUR with FX component |
| EDB describes an 85% MUR and up-to-15% FX rule for applicable transactions. | ||
| Registration duty | often about 4% | often about 5% |
| Tax base, relief and additional charges depend on the transaction. | ||
| Core occupier | long-term urban tenant | tourist or lifestyle resident |
| Mauritius varies by coast, season and project operating model. | ||
| Management model | condo plus agent | often resort operator |
| A rental pool may control rates, personal-use dates and letting freedom. | ||
| Seasonality | generally steadier | tourism-sensitive |
| A strong island brand does not remove vacancy or air-access risk. | ||
| Resale audience | investor or urban user | qualifying international buyer |
| A Mauritian successor buyer must fit the project’s legal route. | ||
| Personal utility | Asian city base | island, beach, residence |
| Lifestyle value is real but should not be presented as yield. | ||
Phnom Penh provides a broader selection of foreign-eligible condominiums and USD long-term rent. Building quality, micro-location and evidenced tenant demand matter more than a marketed return.
A qualifying property above the prescribed threshold can combine occupation with a residence route. Confirm scheme status, amount, family eligibility and the consequences of resale.
Central Phnom Penh demand is tied to work, education and corporate relocation across the year. Vacancy remains possible, but it is less directly linked to resort occupancy and flight schedules.
Beachfront setting, limited high-quality supply and a professional resort operator can create genuine utility. Assess net income, rental-pool restrictions and the eligible resale audience.
Purchase price, rent and many costs can remain in one base currency. Mauritius requires a separate MUR and foreign-exchange model under the current settlement rules.
IRS, RES and PDS are not merely resort branding. They are approved channels through which a non-citizen may acquire specified residential property. Due diligence should confirm the development certificate, seller authority, Economic Development Board approval, exact lot and subsequent transfer conditions. Existing IRS and RES communities remain relevant, while PDS became the main framework for newer integrated residential developments.
The foreign market is not limited to PDS villas. EDB also publishes a route for apartments in buildings of at least ground plus two floors, subject to a prescribed minimum cheque. Such an apartment may be materially cheaper than a residence-linked villa, but it is a different legal product and normally does not create an automatic residence permit. Cambodia is simpler for an apartment: confirm the co-owned-building status, permitted floor, foreign quota and strata title. In either country, the brochure name is not the ownership evidence.
In Mauritius a qualifying property purchase of at least US$375,000 can support a residence permit for as long as the buyer holds the property. For a family or entrepreneur, this can be a central part of the acquisition rather than a peripheral benefit. The buyer still needs to confirm that the exact scheme and unit qualify, how a spouse and dependants are treated, what compliance documents are required and what happens when the property is sold.
A Cambodian strata title does not create an equivalent residence right. Immigration status is handled separately. The fair comparison therefore cannot stop at price per square metre: part of the Mauritian premium buys a migration option and lifestyle utility. A buyer who does not need that option should not automatically assume that the next purchaser will pay the same premium for it.
International Mauritian projects often advertise in euros or dollars, but the country’s operating currency is the Mauritian rupee. In its current property-acquisition FAQ, EDB describes an applicable settlement structure under which 85% of the purchase price is paid in MUR and up to 15% may be paid in foreign currency or MUR, with an evidenced foreign source of funds. The exact mechanism, exemptions and bank process should be settled before the reservation agreement.
That adds an FX layer largely absent from Phnom Penh’s USD model. Even when a Mauritian asset rises in MUR, the dollar result depends on the exchange rate; the Bank of Mauritius has documented periods of rupee depreciation against the dollar. Underwriting needs both an MUR cash-flow statement and a base-currency return. A euro brochure does not remove rupee exposure, just as a dollar price in Cambodia does not guarantee capital preservation.
A Mauritian resort residence may participate in a rental pool. The operator combines inventory, sells accommodation, deducts operating costs and distributes revenue under a contractual formula. The owner gains professional distribution and service but may surrender control over pricing, personal-use dates, refurbishment and guest selection. Underwriting should use audited or independently evidenced performance for comparable units rather than projected occupancy.
Phnom Penh more often uses a conventional long lease: a known tenant, monthly rent, an agent and periodic maintenance. The model is simpler, not passive. In both countries, show gross revenue, commission, service charge, utilities, furniture reserve, vacancy, tax and net cash flow separately. Any guaranteed-return claim deserves specific review of security, duration and the financial strength of the party making it.
Mauritius received roughly 1.44 million tourists in 2025, and official figures for early 2026 continued to show growth. A recognised global destination supports premium coastal locations and well-run residences. Tourist arrivals are not property buyers, however. A resale purchaser also needs sufficient capital, regulatory approval, the right personal objective and tolerance for service charges. The more distinctive and expensive the villa, the thinner the set of genuinely comparable transactions.
A small Cambodian urban unit reaches a different audience: investor, expatriate, eligible local user or personal-use buyer. Its secondary market can also be thin, particularly while the developer sells new stock with incentives. A Mauritian exit model should begin with the number of purchasers who can legally acquire the unit; a Phnom Penh model should begin with completed resales in the same building and the continuing quality of management.
Cambodia’s advantage in this comparison is not a resort image but accessibility and a workable USD model. With capital below Mauritius’s residence threshold, an investor may acquire one or more condominiums, retain a vacancy reserve and target a year-round tenant. Its weaknesses are the lack of an automatic residence link, a less premium international brand and limited secondary-market transparency.
Mauritius is stronger as a combined purchase: home, ocean access, serviced living and a possible immigration outcome. Its weaknesses are the high cheque, MUR operations, tourism exposure and community costs. The choice therefore rarely comes from one yield figure. Where the primary goal is investment cash flow, Phnom Penh is usually easier to structure. Where personal use and a residence permit form part of the objective, Mauritius can rationally justify the premium.
Mauritius is a regulated premium proposition built around approved schemes, lifestyle and sometimes residence planning. Cambodia is the accessible city-income alternative, without the same status benefit. I would separate scheme and immigration eligibility from asset quality, then test management costs, MUR exposure and the very specific resale audience.
Elvira Shamuratova
Founder of Elvira Cambodia · Associate Director at Pointer Property · strategic partner of NovAsia
No. In addition to PDS and legacy IRS/RES projects, authorised categories include certain G+2 apartments. This does not open the entire domestic market or give every property a residence benefit.
The core indication is a qualifying property worth at least US$375,000 within an eligible route. Confirm the exact unit, family coverage and current EDB requirements before purchase.
It is the published threshold for the relevant apartment category. It is not the residence threshold and must be checked with project approval and current rules.
Settlement and operating costs remain subject to local currency rules. The owner’s dollar or euro return depends on MUR exchange rates, banking charges and conversion dates.
That is a common buyer-side indication, but the applicable base and rate depend on the legal route and transaction. The notary should provide a current completion statement.
An opaque distribution formula, high deductions, owner-use limits and no verified payment history. Review the operating agreement, budgets, actual distributions and exit rights.
Long-term rent in central Phnom Penh is generally steadier than resort letting. Strong management and longer Mauritian residential leases may reduce seasonality but cannot remove it.
It depends on the asset. A Mauritian buyer must qualify for the approved route; a Cambodian buyer must fit the foreign quota and title. Both require property-level comparables, not a national narrative.
Primary documents and datasets, with issuing body and date.
The country-specific rules belong in one guide, not repeated in full on every comparison.
Foreign ownership and strata title · Taxes, fees and cost of ownership
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