Restrictions on Foreign Real estate investors
The Bridge
Real estate prices in Asia have been on the increase over these past few years. This was evident regardless of the Asian financial meltdown in 1997 and the near missed global recession in 2008.
Cambodia
Below are a few with the cooling measures governments had applied to tackle this sensitive issue of providing affordable housing for his or her own citizens.
Phnom Penh
Let's first take a look at land scare Singapore, an obvious hotspot considering her small size, political stability and attractive demographic. Foreign institutional and retail investors from around the world as distant as USA, Canada, Europe, Middle East, and neighbouring countries like India, China, Indonesia and Malaysia are flocking to this island state to snatch the private properties.
Prices for leasehold condominiums located in the sub-urban area can simply cost $1 million. To retard the escalating property prices also to pacify the outcry from the citizens, the Singapore government reacted swiftly using these latest sets of cooling measures, effective 1 December 2011.
1) Foreign investors will be put through a 10% stamp duty as well as the current 3% with the property price.
2) Permanent Residents buying their 2nd or even more property will probably be put through one more 3% stamp duty from the current 3%.
3) Singaporeans buying their 3rd or maybe more property will be exposed to the excess 3% stamp duty.
Real-estate prices have gone up a lot that some analysts on this island state expect prices to fall up to 20~30% from end 2012 to 2013. But with that said, this can be put through the cost-effective developments coming from U.S, Europe and China.
Next, let's explore Malaysia. This country is separated into two portions from the sea. Peninsular Malaysia lies south of Thailand, and it is bordered on the west from the Strait of Malacca. Over the South China Sea are Malaysia's eastern states of Sabah and Sarawak.
Malaysia can be a relatively large country and thinly populated. The highest power of property investment is within the capital. Despite Singapore, there aren't any restrictions on foreigners owning landed properties, though foreign investors are subjected to the next pair of regulations.
1) A foreign-owned levy 11,000 Malaysian Ringgit
2) Minimum property price is 500,000 Malaysian Ringgit
3) Not able to own Malay reserved land
4) Come to grips with no more than 2 properties only (If there is intention to own a 3rd property, application for approval must be submitted to Foreign Investment Committee of the Economic Planning Unit at the Prime Minister's Department).
The most recent project situated on the southern section of the country is anticipated to be the next economic power state for the country having its proximity to Singapore. The Malaysian government had already invested millions of dollars into the development of this project and it is expected to spend millions more, considering the sheer size and economic importance of the region.