Regional Competition For Property Investment May Increase
As the Cambodian property investment market continues to expand, adding more high-rise condominiums to an ever-developing skyline, the construction sector has become a backbone of the Kingdom’s economy that attracts investment from across the region. But as the ASEAN integration opens up at the end of this year, with the promise of deeper market integration, the race to attract foreign investors to individual markets appears to be accelerating.
For example, this month, two Vietnamese laws will take effect in a bid that could shake up the regional competition in property investment. One of the laws allows foreigners to fully own houses and apartments, while the other is geared towards large investors who wish to lease houses, land and to develop residential and non-residential property investment.
According to Huynh Dai Thang, country partner of DFDL Vietnam, the anticipation for the law has already placed Vietnam higher on the property investment radar. “As a matter of fact, the interest of foreigners in ownership of properties in Vietnam has increased recently,” he said. The new laws allow for increased flexibility that seeks to draw in more investors for new development projects and also to fill vacancies in the countries’ apartment buildings with additional transparency. “
Purchasing your rental property is just the start. Next, you need to think about managing the property and making improvements.
What you consider essential when buying a property to live in is different to what you need to look for…
What you consider essential when buying a property to live in is different to what you need to look for…