Tag Archives: Property market

Property draft law is asked to speed up by PM

According to a statement from the Council of Ministers, Cambodia’s prime minister Hun Sen asked the Ministry of Land and Management and Justices to speed up the completion of a draft law on foreign ownership of property who would allow them to buy their own property above the ground floor. “Hun Sen has recommended that … Continue reading

New MFI to issue property loans

WHILE most banks remain reluctant to provide real estate loans to customers amid the global financial downturn, a new microfinance institution set to launch June 8 says it will channel lending to house purchases and construction. “For the first time, home financing will be available to middle- and lower-income Cambodians,” Talmage Payne, CEO of newcomer … Continue reading

Cambodia property market hit by the global financial crisis

The global financial crisis spread and hit hardly across the world. The surging value of real estate, construction, and property in the last few years has been affected by the world economic slowdown since 2007. Due to the impact of the economic downturn, Cambodia’s property agencies have closed down its door and the prices of … Continue reading

Fall of property fails to stop evictions in Cambodia

PHNOM PENH // A property boom in Cambodia’s capital has seen the houses of thousands of poor residents cleared to make way for upscale developments. Although the real estate bubble has burst, the evictions continue. Advocacy groups say about 70,000 people are in danger of losing their homes since the government began selling off land … Continue reading

Banking during economic decline

The World Bank and the International Monetary Fund released reports on the Cambodian banking sector that warned of potentially serious problems with liquidity and nonperforming loans. What is your reaction to those reports? Firstly, in terms of the banking sector, I think they were a little on the harsh side. Cambodian banks aren’t as developed … Continue reading