Can Foreigners Buy Condos in Cambodia?

[geovalin]

In a word, yes. Foreigners have full rights of ownership over condo units, subject to the 2010 Law on the Provision of Ownership Rights, known as “the Strata Law.”  These rights, however, are restricted to buildings that have obtained a “strata title” – which is available only to buildings built after 2010. 
 

It therefore relates almost exclusively to the new condo projects shooting up all over Phnom Penh and other major cities. Older or smaller apartment buildings are unlikely to be strata title guaranteed.  According to the strata title regulation, foreigners cannot acquire a ground-floor unit legally, and any foreign ownership allocation is limited to a maximum of 70 percent of the units in any one co-owned building. The other 30 percent must be owned by Cambodia citizens. 
 

Co-owned buildings are defined as a building in which several owners reside, consisting of some parts that are the exclusive ownership of each co-owner (private units) and some other parts that are common spaces for the common use of co-owners (common areas).  Strata title has also recently been extended to commercial buildings and in particular shared office complexes. 

 

read more http://www.khmertimeskh.com/news/33419/can-foreigners-buy-condos-in-cambodia-/

 

 

-- © Copyright Khmer Times 21/12

[SiSePuede419]

Just because you CAN do something doesn't mean it's a wise, prudent idea.  

 

I mean you CAN jump off a balcony.  Doesn't make that a sound decision. ?

[Happy Grumpy]

Why did the same poster ask a question, then answer it himself as the OP?