Cambodia Opens Real Estate Market To Foreigners

Have you been hankering to buy real estate in Cambodia? OK, maybe not. But you may want to give it some thought now that a new law allows foreigners for the first time to purchase real estate in the impoverished Southeast Asian country.

Those in the know already know that some investors have long gotten around the prohibition. But do you really want to do something blatantly illegal in a place such as Cambodia? Well, now you won't have to.

The new law has passed the lower house of the Cambodian parliament. It still needs approval from the Senate there and the King, but that's considered nothing more than a technicality by the 'in the know' crowd.

There is just one small caveat you should be aware of, however, if you are thinking of buying into the Cambodian dream.