In 2008, Cambodian real estate was riding high and Cambodians watched their land and houses skyrocket in value, only to see it drop drastically again thanks to the world economic collapse. Homeowners now find themselves still stuck in a buyer’s market, and new property taxes will add to their financial load.
Real Estate Values & Property Tax (Main Story)
As the real estate market continues a very slow recovery from the economic downturn of 2008, the Ministry of Economy and Finance has added a Property Tax to raise revenues from land and homeowners. Many questions remain unanswered: How will tax rates be determined for each property?; Who is exempt?; and in light of the static and depressed nature of today’s real estate market, why is MEF adding this financial burden for struggling homeowners at this time?
Apsara Authority versus Villagers (Feature)
Many people living within the Apsara Authority’s restricted areas near Angkor Wat are unhappy with the Authority’s restrictions on constructing or renovating houses. The Apsara Authority says it is simply following the guidelines of its World Heritage site agreement with UNESCO. The Apsara Authority is caught between the need to preserve Cambodia’s heritage and the responsibility to the people whose land and homes fall within the Angkor perimeter.
According to EV
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