June 25, 2011

Cross border development


Across the border in Cambodia other luxurious developments are emerging with Song Saa and Morakot Island leading the way. Taking advantage of the relatively new luxury property market in Cambodia, these developments offer a niche alternative while also offering investors attractive lease terms. In contrast to Thailand’s 30 year lease laws, Cambodian property laws allow for 99 year leases on land, undoubtedly a bonus. In terms of land ownership however, the two countries still restrict foreign ownership of land to a 49 per cent shareholder basis. Thailand however, allows for full foreign ownership of apartments and condominiums, something which is not yet allowed in Cambodia (although at the time of writing, a bill allowing foreigners to own condominiums was waiting for approval and enactment).

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