reamcity

For many foreigners, investing in Cambodia real estate is a very intriguing but complex venture. This vast country with rich natural resources and full of historical and modern attractions is a wonderful place for a vacation. However, if you are an individual who wishes to be self-employed, own a business or even just rent a flat or villa, you would need to know more about Cambodia's Real Estate market. The real estate market in Cambodia can be quite confusing, as there are a lot of foreign investors here who do not speak the language of the country's people. As a result, some transactions are either overlooked or misconstrued resulting to a loss of money.

There are 3,032 real estate listings currently found in Cambodia. Contact a Cambodia property broker who could assist you in finding the ideal property of your dreams. Not able to purchase yet? Compare apartments for rent in Cambodia to help you understand the country's real estate market.

Cambodia's real estate market has seen an upward trend due to the influx of foreign investments, which resulted to higher property prices. A survey conducted by the International Organisation for Investment (OII) revealed that in the last ten years Cambodia has recorded a remarkable growth of more than 30 per cent. This result was attributed to the liberalization policies implemented by the government. A marked increase in foreign direct investments (FDI) was also registered.

Cambodia's real estate industry benefited greatly from these foreign investments as they significantly increased property prices. However, this is not the case for all areas as some areas were negatively hit by the foreign investments resulting to lower property prices. A major reason for this is the inappropriate utilization of Cambodia's surplus agricultural land. According to the government's policy of encouraging economic development through strategic investments, the excessive use of agricultural land by foreign investors needs to be curtailed. Thus, the government is keen on ensuring that unused land is utilized effectively so as to contribute to the overall economic progress of the country.

Another challenge that the Cambodia real estate industry has faced is the influx of foreigners who do not follow the law of the country and do not hold the required ownership documents. As a result, foreigners are avoiding the country altogether and choosing another country where they can invest in real estate. Ownership issues regarding Cambodia property are also proving to be a hindrance for foreigners. The lack of documentation and ownership verification processes makes the process of purchasing real estate complicated and time consuming. Also, foreigners who decide to purchase properties in Cambodia need to be extra cautious as they are not subject to the ownership laws of the country. check here

Lastly, foreigners have a difficult time acquiring freehold ownership because of the absence of relevant laws in Cambodia Real Estate market. For example, the Property Registration Law and the Real Estate Renting and Development Act that apply in most Asian countries do not apply in Cambodia Real Estate market. Finally, foreigners face difficulties in dealing with properties that are held in different parts of the country, as they are not aware of the particular legal requirements applicable in each area. As a result, property buyers and sellers are not confident about buying real estate from foreigners.