Property Focus
Demand for larger condominium units is poised to remain strong
The property market is predicted to see steady strong demand for larger condominium units, despite the limited number of new condominium developments in the market, or higher prices for smaller units in new developments. Consumers are now eager to purchase larger condominium units, which contain larger living areas with some space for a workstation or […]
Read More
Donaco International Seeks US$5 Million Loan for DNA Star Vegas in Poipet City
Border casino operator Donaco International Ltd says its directors have approved a new loan facility of US$5 million to support DNA Star Vegas in Poipet city, the GGRASIA reported on 3 May. The Monday 2 May announcement came as the firm passed the two-year milestone regarding the temporary closure of what had been its main […]
Read More
Hong Lai Huat to Sell Up To US$50m Worth of D’Seaview Units in Cambodia
Hong Lai Huat, on 4 May, announced that it has entered into a term sheet with Fabi Capital, where it will grant the latter the right to purchase up to US$50 million worth of residential and commercial units in D’Seaview. D’Seaview is the company’s upscale mixed-use development project located in Cambodia’s Sihanoukville province. It comprises […]
Read More
Award-Winning Residential Project La Palm Launches New Borey in Southern PP
After the success of their first project, Borey La Palm has once again inked a partnership deal with Pointer Property Co., Ltd. to launch its second project—Palm Springs. The signing ceremony appointing Pointer Property as the exclusive sales and marketing partner for the Palm Springs project took place on 30 April and was joined by […]
Read More
Stamp Duty Tax Exemption for Property Worth Under US$70,000 Extended to End of 2022
The government has decided to extend stamp duty tax exemption for property worth equal to or under US$70,000 till the end of 2022. The stamp duty tax exemption for houses and condos worth equal to or under US$70,000 will be continued to the end of 2022, as part of the government’s measures to boost economic […]
Read More
GDT to Send Property Tax Bills to Taxpayers’ Homes Annually to Encourage On-Time Payment
The General Department of Taxation (GDT) is planning to issue annual property tax invoices, just like water and electricity bills, and send them to taxpayers’ homes, to increase the efficiency of property tax collection. The remarks were made by HE Kong Vibol, GDT Director-General on 26 April 2022. “We are advising the units under GDT […]
Read More
Tax Obligations for Condos Under Construction
During the COVID-19 pandemic crisis, construction on many condo projects was delayed or suspended. Are these under-construction condo projects subject to property tax? According to officials from the General Department of Taxation (GDT) during the Q&A Facebook live session on 21 April, whether or not the condo project is subject to tax depends on two […]
Read More
GDT: Register Unused Land Before End of 2023 to Get Three Tax Incentives
The General Department of Taxation (GDT) has called on owners of unused land to register their tax obligations before 2023 to get tax incentives. Tax officials said in the online seminar on 21 April that owners who hold soft titles will get three incentives when coming to register their property for the first time. First, […]
Read More
Revenue From Stamp Duty Tax in Q1 at US$55.7 million, Up By 35% Y-o-Y
Revenue from stamp duty tax on property transfers was recorded at approximately US$55.7 million in Q1 of 2022, an increase of 35% compared to the same period last year. The figure was presented at a monthly meeting chaired by HE Kong Vibol, Director General of the General Department of Taxation (GDT), on 19 April. During […]
Read More
Eyes Back on Phnom Penh’s Property Market
By Eric Wong Chon Lap While many business sectors in Cambodia struggle to keep afloat from the current COVID-19 wave, property buyers are expanding their portfolios. As all businesses reopened and restrictions lifted, more attention has been drawn back to the Cambodian property market as investors demand first or second homes. With the government’s policies […]
Read More