ABC Radio Australia
The Cambodian government has drafted a law that could pave the way for foreign ownership of property in Cambodia.
Existing rules prohibit foreigners from owning land, which supporters say prevents speculation and price volatility.
The proposed changes would allow for foreign ownership of houses, apartments and condominiums from the second floor up for resale.
Foreigners would also be able to inherit property.
The Minister of Land Management, Urban Planning and Construction, Im Chhun Lim has told the Phnom Penh Post the proposed law has been submitted to the private sector for feedback.
The Cambodian government has drafted a law that could pave the way for foreign ownership of property in Cambodia.
Existing rules prohibit foreigners from owning land, which supporters say prevents speculation and price volatility.
The proposed changes would allow for foreign ownership of houses, apartments and condominiums from the second floor up for resale.
Foreigners would also be able to inherit property.
The Minister of Land Management, Urban Planning and Construction, Im Chhun Lim has told the Phnom Penh Post the proposed law has been submitted to the private sector for feedback.
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