Compass Real Estate > Cambodia Investment Guides > Second-hand housing policies in Cambodia.

Second-hand housing policies in Cambodia.

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2019-08-28
Summary:Second-hand housing policies in Cambodia.

Cambodia Housing Policy:
Purchase Conditions
The Cambodia government welcomes foreigners to invest in property, and the policy of buying houses for foreigners is more relaxed than Thailand, so long as they have a passport, they can buy property.
On April 5, 2010, the Cambodia Parliament discussed and passed the Foreigners Property Law, which was jointly formulated by the Ministry of Land, Urban Planning and Construction and the Ministry of Justice. According to the law, foreigners will have the right to buy houses in Cambodia and have legal property rights.
It also stipulates that foreigners who purchase houses above the second floor of high-rise buildings in Cambodia can obtain the same property rights certificate as Cambodian, and can rent and sell houses independently. They have unlimited rights and are permanent property rights.
Distinction of Property Rights
Land property rights and housing property rights can only choose one from the other. Local people buy houses and own land property rights.
Foreigners hold property rights above the 2nd floor and only register the property rights of buildings without land property rights.
The real estate certificate is the complete property right. The rights of foreigners are identical with Cambodian nationals. In the future, if it is rebuilt, it will be punished according to the proportion of land area on the real estate certificate.
Certificate of Property Rights
Cambodia's property rights certificate is commonly known as hard title; it is a certificate registered in land administration organs according to land law, printed on official good hard paper, and can be mortgaged to banks.
Time Limitation of Foreigners Property Ownership
Foreigners can purchase housing with no land or more than two floors by means of passports. They can buy houses with 100% property rights, but not more than 80% of the whole apartment building. They only enjoy permanent property rights of housing, and have no property rights to land.
After reading the above information, I believe you have a clear understanding of the relevant laws and regulations of Cambodian real estate property rights. So what else should we pay attention to in the actual real estate sales?
Cautions for Cambodian Housing Purchase:
Property Right Certification Processing
When the purchaser needs to register the property right (hard card) after the delivery of the housing, the purchaser shall pay 4% of the relevant document fees and tax fees stipulated by the Cambodian Government.
Taxes and fees need to by for housing
If a hard title is required, a registration tax (4% of the house purchase contract or in accordance with the provisions of the Cambodian government at that time) will be paid.
The annual real estate tax is 0.1% of the total house price assessed by the tax Ministry, which is higher than $25,000, and less than $25,000, which is not subject to property tax (calculated according to the provisions of the Cambodian Government).
For example, the annual real estate tax is ($25,000) X 0.1%.
Procedures for delivery
Stamp handprint for  transfer.
Prepare a letter of authorization (entrusting the company to rent or sell on its behalf).
Bank account opening (including network account opening). (Money should be exported from Phnom Penh's bank through network, and local bank network authorization signature is needed.)
Pay off the house payment.
Six months'management fee and basic water fee and electricity fee are paid in advance. The management fee and water and electricity fee are paid by the tenant after the house is rented on behalf of the tenant. The basic water and electricity fee is refunded more or less.
Signing Household Convention and Property Management Provisions
Upon completion of the formalities for housing delivery, it may be stipulated that the tax payment fee and agency fee for the complete documents shall be handled with a hard card and the ownership registration formalities shall be completed.
Transfer fee
The buyer must pay 4% of the declared price of the Cambodian government as a "housing transaction tax" or as stipulated by the Cambodian government at that time. (usually paid for the procedure of purchase housing)
A commission based on the market is required if an intermediary is sought. (3%).

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