Local News
How Will Capital Gains Tax Affect the Real Estate Market in Cambodia?
Some have claimed that the tax is way too high and is not the right time amid the COVID-19 crisis. Others have said it is an effective way to control unregulated inflated property transactions and increase state revenue.
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Kampot Administration Process Land Acquisition to Long-term Occupants in Bokor National Park
The Kampot Provincial Administration is currently reviewing the applications and will soon gift land to those eligible long occupants in Bokor National Park, according to the work progress meeting on 09 September. Undersecretary of State at the Ministry of Environment HE Saut Yea said in the meeting that land ownerships would be granted only to […]
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Vann Molyvann’s house could become yet another skyscraper, expert warns
Photo by: Courtesy-of-IPS-Cambodia With the absence of preservation law and high land price, the unique house of renowned Khmer architecture Vann Molyvann might be torn down and replaced with a skyscraper, experts warns. According to Bloomberg CityLab article on September 9, his house is currently listed for sale at US$7 million. Since there has no […]
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362 Officials Assigned to Oversee Nationwide Implementation of Construction Law
The Ministry of Land Management, Urban Planning and Construction (MLMUPC) has appointed 362 officials to oversee the implementation of the construction law, including inspecting, monitoring, and investigating all construction developments nationwide. The special team, including those from the national and sub-national levels, were appointed following Prakas No 141 dated 04 September 2020. Their tasks are […]
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Winners Announced for PropertyGuru Cambodia Property Awards 2020
Winners of the PropertyGuru Cambodia Property Awards 2020 were announced at the Gala Dinner last night at Sofitel Phnom Penh Phokeethra, where International Holding (Cambodia) Ltd. emerged the biggest victor. Presented by Hitachi Elevators & Escalators, more than 30 trophies and nearly 25 Highly Commended distinctions were presented to almost a dozen companies, representing the […]
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Evaluation and Immovable Service Businesses Must Obtain Certificate or License
By law, all businesses in Cambodia must be registered and pay taxes. Similarly, businesses providing evaluation services and immovable services also require a professional certificate or business license from the Ministry of Economic and Finance. An evaluation service conducts an appraisal to determine the value of an asset and its benefits located or attached to […]
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Low Sales Rate Hits Phnom Penh Condominium Market
By Eric Wong Chon Lap With record units of residential properties available to the public in Phnom Penh, sales rates have fallen to a new low, with many empty homes in Phnom Penh which are mostly unsold or without residents. Due to COVID-19, we can foresee the postponement of new launches and discounts on unsold […]
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5th PropertyGuru Cambodia Property Awards to be held on Sept 4
The organisers have made the responsible decision of postponing the 5th PropertyGuru Cambodia Property Awards’ black-tie gala dinner and awards presentation, previously set for June, to ensure the safety and health of guests, venues, and staff members. Cambodia’s leading annual real estate gala event will now be held on Friday, 4 September 2020 at the […]
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GDT to Initiate Capital Gains Tax Collection from January 2021
The General Department of Taxation (GDT) of the Ministry of Economy and Finance will collect tax on capital gains from 01 January 2021, after delaying implementation since July 2020. According to the Prakas of the Ministry of Economy and Finance, capital gains refers to taxable income from the sale or transfer of capital deducted with […]
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CVEA President Chosen to Lead ASEAN Valuers Association Next Term
The Cambodia Valuers and Estate Agents Association (CVEA) President Chrek Soknim has been chosen to be the next president of the ASEAN Valuers Association (AVA). Cambodia is also honoured to also be hosting the AVA congress meeting next year. Mr Chrek told Construction & Property Magazine that he and all the CVEA members are very […]
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