Though previously a few steps behind her other Southeast Asian comrades, Cambodia is slowly but surely catching up in its cultural and financial sectors. With 74 per cent of its citizen literate and aged between 20 and 34 years old, the country is set to move only upwards in economic growth.
Photo: The Gateway mixed-use development in Phnom Penh, Cambodia
This is clearly reflected in the growing interest from investors, attracted by the strong and growing labour force with a high literacy rate, and the potential space for growth. As shifts in the Foreign Ownership Property Law now favour foreign buyers, Cambodia’s real estate market has boomed in recent years. Non-citizens can purchase up to 70 per cent of a freehold, leasehold or concession condominium development, of units above the ground floor. They are not however allowed to own land.
Property rental yields are high on the list of returns investors can look forward to. It has been reported that a 8 to 10 per cent ROI is not uncommon. Land prices are already rising quickly, especially in Phnom Penh. And investors are responding positively to well-developed properties with modern designs and good locations, such as the 39-storey mixed-used project, The Gateway, located in the capital city’s Central Business District. Investors can look forward to high capital gains in the long-term as the government continues to commit to developing infrastructure and
