From holidaylettings.co.uk2 June 2008
Cambodia is being tipped as a new property investment hotspot, as the government announces plans to welcome more direct flights into the country. Overseas Property Professional (OPP) explains how this, and further measures, could lead to a surge in development.
The Cambodian government is actively promoting the country's tourist and investment potential, hoping to experience the same development boom as neighbouring Thailand. Following a meeting with Qatar officials, Cambodia's foreign minister Hor Nam Hong said: "We are expanding the direct flight service with Qatar to attract tourists and investors to our country." Plans to relaunch the country's national airline have also been announced.
Experts predict that the changes will stimulate growth in the property sector. Speaking to OPP, Liam Bailey of David Stanley Redfern commented,: "In Cambodia, property market growth has been largely limited to Phnom Penh...The recent massive increases in visitor numbers, which will be helped by the new airline, will spread property market growth to other areas, and new Cambodian property hotspots will be emerging soon."
The Cambodian government is investing heavily in the country's infrastructure to accommodate increasing visitor numbers, constructing motorways and a third international airport. In a further bid to attract more overseas investors, the Cambodian government is also reportedly considering changing its ownership laws by the end of the year. The changes would allow freehold ownership to non-nationals.
Much of the tourism interest of the country centres around the temples, which are particularly popular with visitors from Australia and New Zealand.
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