Promising Outlook ? Cambodian Real Estate Market
Discover expat-quality housing in several key areas such as Daun Penh, Chamkarmon, and 7 Makara in Cambodia.
The post Promising Outlook ? Cambodian Real Estate Market appeared first on LUXUO.
Cambodian property market. Image: B2B Realty
Cambodia was the only country in Asia that skipped the Financial Crisis in the 1990s. It also avoided the tech bubble of the early 2000s and even ducked the 2008 Financial Crisis. So why is this country so lucky" It’s because the country is a frontier market and is less associated with the global economy.
Being in the frontier market means the country undeniably attracts many foreign real estate buyers and investors. The bustling capital of Phnom Penh is also attracting many multinational corporations to set up their businesses there. With droves of well-paid expats spending their six-figure salaries there, that means finding residential projects to meet their standards might become a problem. Foreigners can own strata titles for condominium units under their own names. However, strata titles are not permitted for land or shophouse apartments. Annual property taxes are 0.1 per cent of the property’s market value in excess of 100,000,000 Khmer riel (approx. US$25,000). Foreigners enjoy freehold ownership and total control over their properties if they follow the books. Quite simply, you can profit by investing in such frontier markets especially if they are not overrun by foreign capital and large investment firms. One can buy...
The post Promising Outlook ? Cambodian Real Estate Market appeared first on LUXUO.
Cambodian property market. Image: B2B Realty
Cambodia was the only country in Asia that skipped the Financial Crisis in the 1990s. It also avoided the tech bubble of the early 2000s and even ducked the 2008 Financial Crisis. So why is this country so lucky" It’s because the country is a frontier market and is less associated with the global economy.
Being in the frontier market means the country undeniably attracts many foreign real estate buyers and investors. The bustling capital of Phnom Penh is also attracting many multinational corporations to set up their businesses there. With droves of well-paid expats spending their six-figure salaries there, that means finding residential projects to meet their standards might become a problem. Foreigners can own strata titles for condominium units under their own names. However, strata titles are not permitted for land or shophouse apartments. Annual property taxes are 0.1 per cent of the property’s market value in excess of 100,000,000 Khmer riel (approx. US$25,000). Foreigners enjoy freehold ownership and total control over their properties if they follow the books. Quite simply, you can profit by investing in such frontier markets especially if they are not overrun by foreign capital and large investment firms. One can buy...
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