The new property law will support the real estate market in Cambodia

The new law on the property market will support Cambodia's real estate, which is going through hard times, according to Global Property Guide. In May 2010, King of Cambodia has approved a law allowing foreigners to own apartments and condominiums in the country, and thus, according to the president of the National Association of Appraisers of Cambodia, the number of freehold sales increased. "We have already sold 80% of homes in our project, and 60% bought by foreigners. With the new law, sales are getting better and better, "- says representative of the company that built Bal Resort. Ownership of land in Cambodia contradict the country's constitution, but a foreigner can arrange long-term renewable rent on the ground. According to Global Property Guide .