Cambodian market to open up?

by Robert Carry

Nuth Nurang, Secretary of State at Cambodia´s Ministry of Land Management, Urban Planning and Construction has revealed that the government is considering an amendment to Cambodia´s law that would allow foreigners to buy property in the rapidly emerging market freehold. To date, foreign investors have only been permitted to buy on a leasehold tenure of up to 99 years – an option which has proved popular with buyers seeking to invest in Southeast Asia. Liam Bailey of David Stanley Redfern, a UK-based overseas property specialists, believes a further opening up of the market to overseas investors would be a massive boon for Cambodia´s economy, “Foreigners being able to buy property freehold would blow the Cambodian property market wide open.” He continued, “The economy is regenerating all the time, especially in the world´s main growth hot-spot and a place experts believe will enjoy sustained growth over at least the next five years.”

For more information visit: www.davidstanleyredfern.com/investment-property/cambodia/