Gov't will prepare a New Policy of Tax Exemption of House Price Lower Than $210K for This Special Condition

Samdech Moha Bovor Thipadei Hun Manet, Prime Minister of Cambodia, stated that to promote the recovery of the real estate sector in Cambodia, the royal government will continue to exempt buyers of houses priced below US$70,000 from registration tax until the end of 2025, even if the house was purchased before 2020.

In addition, the prime minister is also preparing a new incentive policy, allowing first-time home buyers with a price of US$210,000 or lower to receive an exemption from registration tax.

The statement by the prime minister was made at the closing ceremony of the annual meeting of the Ministry of Land Management, Urban Planning, and Construction on November 26, 2024.

The Prime Minister stated that, “Currently, I am preparing another policy for first-time home buyers from Borey or condominium projects. This policy will exempt tax registration fees to help the buyers who buy homes with a price of more than US$70,000 to less than US$210,000. Noted, it is for the first-time purchase only and not the second one. This new policy will be implemented by the end of 2025.”

He also stated that the exemption from registration tax fee is a measure to help the real estate sector inject cash (create a buying and selling transaction flow) into the real estate sector, boosting the national economy.

It is worth noting that, for restoring the real estate sector, the Royal Government of Cambodia has also introduced a few measures to reduce the tax burden on real estate developers and citizens who own real estate, including: 1. exemption from capital gains tax on real estate; 2. allowing project-based tax packages for construction development companies; and 3. exemption from registration tax on the ownership transfer or right to occupy all types of residential properties in Borey form with a price of less than or equal to US$70,000.