[PROPERTY REPORT]
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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