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Law on Foreigner Property Ownership Implemented - June 2016
Posted: Mon Jun 20, 2016 10:40 am
by IPS Cambodia
A directive from the Ministry of Land Management, Urban Planning and Construction on June 13th 2016 is now fully implemented for foreigner property ownership.
Khan Daun Penh officials announced that as of June 13th 2016, the Sangkats will no longer transfer soft titled property into a foreigner’s name – essentially they are now enforcing a law that has always been in existence but previously allowed individual Sangkat’s to enforce it at their discretion.
Be informed and read all about it here :
http://tinyurl.com/j4eqvpc
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Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Mon Jun 20, 2016 11:09 am
by bolueeleh
good for you, more business for you
Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Mon Jun 20, 2016 11:50 am
by bolueeleh
Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Mon Jun 20, 2016 12:54 pm
by prahkeitouj
It might be good and bad, but I guess good thing for local who can't afford to buy any land yet while it is increasing everyday.
Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Mon Jun 20, 2016 4:55 pm
by bolueeleh
prahkeitouj wrote:It might be good and bad, but I guess good thing for local who can't afford to buy any land yet while it is increasing everyday.
why good? you dont want to be able to work and save money and buy a land in the future?
Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Fri Jun 24, 2016 7:54 pm
by prahkeitouj
bolueeleh wrote:prahkeitouj wrote:It might be good and bad, but I guess good thing for local who can't afford to buy any land yet while it is increasing everyday.
why good? you dont want to be able to work and save money and buy a land in the future?
Why not? I think good for locals:
1. They will have more jobs
2.most foreigners are paid better than us. They might save money much more than us. But When foriegners are difficult to buy land, the price of land or house will be decreased because not many foreigners could buy it. so it might be better for us.
Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Fri Jun 24, 2016 8:46 pm
by table42
Little salary,first why will locals have more work if foreigners don't or can't buy real estate? And then do you really think that the price of houses and land will decrease so much that middle class Cambodians will be able to afford them? How large is the middle class anyway?
Sorry, but I think only wealthy Khmer will be able to afford them and there will be a lot of empty new homes.
Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Fri Jun 24, 2016 8:54 pm
by kiwiincambodia
prahkeitouj wrote:bolueeleh wrote:prahkeitouj wrote:It might be good and bad, but I guess good thing for local who can't afford to buy any land yet while it is increasing everyday.
why good? you dont want to be able to work and save money and buy a land in the future?
Why not? I think good for locals:
1. They will have more jobs
2.most foreigners are paid better than us. They might save money much more than us. But When foriegners are difficult to buy land, the price of land or house will be decreased because not many foreigners could buy it. so it might be better for us.
But why can't a foreigner who has solid connections to Cambodia, say a family, and will be living here a long time, if not forever buy land?
Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Fri Jun 24, 2016 9:11 pm
by Duncan
kiwiincambodia wrote:prahkeitouj wrote:bolueeleh wrote:prahkeitouj wrote:It might be good and bad, but I guess good thing for local who can't afford to buy any land yet while it is increasing everyday.
why good? you dont want to be able to work and save money and buy a land in the future?
Why not? I think good for locals:
1. They will have more jobs
2.most foreigners are paid better than us. They might save money much more than us. But When foriegners are difficult to buy land, the price of land or house will be decreased because not many foreigners could buy it. so it might be better for us.
But why can't a foreigner who has solid connections to Cambodia, say a family, and will be living here a long time, if not forever buy land?[/quote]
You can. Just put it in the families name and do a 30 year lease back to yourself. Even a loan agreement for the money to buy it if you want. But if you are so convinced they are your ''family '' there would be no need for that anyway.
Re: RE: Re: Law on Foreigner Property Ownership Implemented - June 2016
Posted: Tue Jun 28, 2016 11:35 am
by prahkeitouj
table42 wrote:Little salary,first why will locals have more work if foreigners don't or can't buy real estate? And then do you really think that the price of houses and land will decrease so much that middle class Cambodians will be able to afford them? How large is the middle class anyway?
Sorry, but I think only wealthy Khmer will be able to afford them and there will be a lot of empty new homes.
Still some foreigners buy real estate and need lawyers,right?
I'm sure that middle class locals can afford to buy houses or land if it is decreased.