LEGISLATE TRANSACTIONS URGES CVEA

• 1 April 2016
• Property Focus
• 3013 Views

To ensure sellers to use a registered real estate company to value their property before placing it on the market, the CVEA has called on the government to regulate all property transactions as part of the pending management law.

The initiative would mirror the US model and is designed to control speculation and artificial price jumps in the local real estate market. Ensuring stability and consistency in pricing would strengthen the market by building confidence among local and international investors according to the CVEA.

“Generally, when a private seller attempts to sell their own property, the price they seek is 30 to 50 per cent higher than the actual market value,” CVEA president Kim Heang told Realestate.com.