Jul 25, 2022
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pismo beach, ca
pismo beach, ca
How Can Foreigners Buy Houses in Cambodia?
Q1: Can Foreigners Buy Houses in Cambodia? A1: Yes. Since 2010, Cambodia has enacted the Foreigners' Property Holding Act, which opens the door for foreigners to buy real estate. As long as they are over 18 years old, foreigners can purchase houses without land and above the second floor with their passports, obtain the same property right certificate as Cambodian citizens do, enjoy permanent property right, and can rent and sell houses independently. However, the number of houses purchased should not exceed 80% of the total number of houses in the apartment building. In addition, land and villas cannot be purchased in Cambodia by individual identity.
Q2: How Long Is the Property Right of a Cambodian Property? A2: There are two kinds of local property rights: permanent right and limited-term right. For the permanent right, the owner can have the property right permanently. For the limited-term right, the owner can only have the property right for 99 years, but the contract can be renewed after 99 years. Special attention should be paid to the fact that there are no restrictions on the ownership of any property bought by foreigners.
Q3: Apart from the purchase price, what other expenses do I need to pay for buying a house in Cambodia? A3: In the course of the transaction, the fees should be paid: deed tax, which is 0.04 % of the house price. In the process of applying for the property right certificate, the fees should be paid: registration fee, cost of the housing ownership certificate, maintenance fund of common equipment in the public area, etc. In the process of occupancy, the fees should be paid: property management fee, heating fee and insurance premium. Other: No property tax, no inheritance tax or luxury tax. Compared with the 5% tax abroad, the cost of buying and holding a house is very low in Cambodia.
Q4: Do Cambodian properties have a shared area? A4: No. The area of a Cambodian house is calculated according to the actual area used.
Q5: How about the decoration of apartments and property facilities? A5: Cambodian apartments are mostly finely decorated, and part of them are fully decorated, including soft furniture, which enables residents to check in with luggage at once. General apartment property facilities include: parking space, gym, swimming pool, library, sauna room and so on, these are free to use. Property management fee: generally, $1-2 per square meter per month. According to the provisions of real estate developers to collect property management fees, the level of property management fees depends on the completeness of supporting facilities.
Q6: How to rent or sell Cambodian properties? A6: Uoolu Platform can provide you with one-stop overseas housing hosting solutions (property management, lease and sales, etc.).
Q7: Which cities in Cambodia are suitable for investment? A7: The most valuable investment destination cities in Cambodia are Phnom Penh and Sihanouk. Phnom Penh is the capital of Cambodia and the most promising city in Cambodia. In recent years, housing price has increased by an average of 15% annually. Apart from this, Phnom Penh also sees a considerable rental income, with a rental return of more than 6%. In addition to Phnom Penh, Sihanouk, Cambodia's second largest city, is a city with both land, sea and air ports and famous beach resources. It has the largest casinos and gambling industry in the world. At the same time, hotels here are bound to grow faster than we can imagine.
Other questions and confusions about Cambodian real estate investment? Welcome to leave a message in the comment area or log on to uoolu.com to learn more about Cambodian real estate market. Facebook: Uoolu Twitter: Uoolu Overseas Real Estate Investment Linkedin: Uoolu
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