Can Foreigners buy Property in Cambodia
Cambodia has been hailed as one of South East East best property investment destinations. It is supported by Strong Economic Growth (averaging 7% for the past decade), Increasing Local and Foreign Direct Investments (FDI), Booming Tourism (record high tourists in 2017), a Rising Middle Class, Abundant of Strong and Young Workforce and Political Stability. The Cambodia property market demand and price has undoubtedly picked up strongly. Future Growth looks extremely positive as it is part of China's One Belt One Road Initiative that will see massive investments into its infrastructure and aid in its vision to becoming Middle- Income Country by 2030.The Property Market has generated much interest with Local and Foreign Developers competing for a slice of the growing property market. Singapore Listed Property Developer Oxley Holdings has also entered into the fray. Their first mixed development in Phnom Penh City Centre - The Bridge Cambodia is almost fully sold and is slated to be completed by early 2018.
The Main Question is: Can Foreigners buy Property in Cambodia?
Good News for Foreigners - with the new housing law with effective from April 2010, Foreigners are now allowed to own properties in Cambodia on Freehold Basis and up to a max cap of 70% quota of any Condominium Developments. It is rare that foreigners can own freehold properties which is one of the main reason that we see an increasing number of foreigners investing in Cambodia. Just to take note at this point in time - Foreigners are still not allowed to own Land outright or units on the ground floor in Cambodia unless it is a joint venture with the local partners.
Cambodia Property Tax has remained low and this opens up a window of opportunity for investors looking for High Capital Growth and Rental Yield.
Find out more on THE BRIDGE RETAIL MALL @PHNOM PENH and THE PEAK SHANGRI-LA HOTEL @PHNOM PENH
Like our post @ https://investintproperty.com/can-foreigners-buy-property-in-cambodia/
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