How about real estate in Phnom Penh? Can I buy it?

You can buy it. Phnom Penh is an international metropolis, and Cambodia is a very young country. The average age of the population is more than 20 years old. The recent two generations of young people are relatively powerful and have received higher education. For example, in Phnom Penh, basically if you can speak English, it will be as if you have never gone abroad and you will not feel any trouble. Its socio-linguistic level is really high. Another characteristic is that in a city like Phnom Penh, I think at least 10% of the population are foreigners. Europeans, Americans, and Asians, all you see outside are foreigners. They are not tourists traveling here, most of them are people like me who live here and do things here seriously. Of all the cities I've seen, Phnom Penh is one of the most cosmopolitan.

Cambodian real estate was not available before 2010. Before 2010, Cambodia did not allow foreigners to hold domestic property rights, not even above-ground property rights. But in 2010, the "Foreign Ownership of Property Act" should have been passed in May, which means that as long as there is no land, such as an apartment or a building, as long as you don't buy the first floor, it is the first floor on the ground. , starting from the second floor and going up, foreigners can buy whatever they like, and they can buy it with only their passports. So as soon as this bill was promulgated, Cambodia's real estate really started to take off.

Before 2010, many real estate projects were targeted at wealthy locals in Cambodia. After 2010, everyone went all out to target the foreign market. Foreigners can hold properties above the second floor, and they still have permanent property rights. There is no such thing as 70 or 50 years, and there is no luxury tax.

Cambodia is a country that uses US dollars to trade, and Cambodia has its own currency. , called Cambodian Riel, which was ignored by us directly. Because if you want to buy something of some value, you won’t buy it with riel. Anyway, I have never seen my friends use riel. Everyone uses US dollars, let alone buying a house. The price of the house is also in US dollars, and the transaction is also in US dollars.

Moreover, Cambodia’s foreign exchange policy is 100% open. No one cares about how much money you bring in. As long as you have that much money, you can bring it all in to buy it, and no one cares about you. You made money, you want to take it out, and no one cares about you. You didn’t make a penny and went to Cambodia and made tens of millions of dollars and left. Just leave! It is an absolutely open country.

As of today, Chinese people buying houses in Cambodia are sporadic, and most of them are people with ties to Cambodia. The day before yesterday, I met an elder sister who is from Zhejiang and runs a garment factory here. She bought two or three units in several early real estate projects in Phnom Penh. Now she sells one or two units from time to time and rents out the others, making a lot of money. too much. There are also people who do engineering here or invest here, or people who live in Cambodia for several months of the year. They know Cambodia and know that real estate is profitable. Generally speaking, Cambodia’s real estate is far from reaching its peak and is still on the rise.