Kanchana Paha
Property Report
The Cambodian government would like to earn more revenue from property-related taxes in 2011.
The Ministry of Land Management, Urban Planning, and Construction’s spokewoman Nun Pheany said that an increase in activity in the property sector generated increased revenues last year.
According to the latest figures from the Ministry, tax revenues from transferring, leasing, and selling property increased by 60 per cent over the past year. Over US$19 million was collected in 2010, up from US$12.16 million in 2009.
“We hope tax revenue will gradually increase in 2011 due to people’s confidence in today’s economic stability, which will allow them to expand their property businesses such as transferring, leasing, and selling property,” said Nun Pheany.
As reported in the The Phnom Penh Post, the National Valuers Association of Cambodia’s president Sung Bonna also agreed with the ministry that property transactions were on an upturn.
He pointed that agricultural development would likely create more activity in the property sector through increased buying and selling in 2011. He said: “We are seeing growth in property business actively starting from January, and this is a positive sign indicating that our property business is recovering.”
In terms of the price, the National Valuers Association says that Cambodian property prices have not returned to pre-crisis levels yet.
3 comments:
ah chhkae os nis rik reay ning ban luy chol hopav vea roal khnea. vea sabay chet nas pruos vea kit tha ke ning deung tha luy pun nis ning chol roat. tam pit ah os nis dak khnong hopav vea smos.
Most of all money and property are in ah Kwack and thugs hands!
Who else have money to buy or land to sale?
Wake up ah kwack you the only rich in the land od suffering!
May Koh pich Ghostsssss get you soon!
it's about time cambodia took this property seriously. in wealthy countries of the world, they all taxed properties, so cambodia impose property taxes, etc, so to give assistance to poor people and for infrastructure development, etc, etc... one of the key is to fix and have good tax collection agency and collect taxes for the state, you know!
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