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Angkor TimesExperienced
Asked: January 15, 2021In: Make Money

How will the real estate sector change in 2021?

Although 2020 has passed, it has left a tragedy due to the spread of Covid-19 virus, which has severely affected the economies of many countries around the world. In addition, Cambodia has also been affected by Covid 19. There may ...Read more

Although 2020 has passed, it has left a tragedy due to the spread of Covid-19 virus, which has severely affected the economies of many countries around the world. In addition, Cambodia has also been affected by Covid 19. There may be many questions on this issue, how will the real estate sector change in 2021? Decline or increase?

According to Mr. Virak Virak, CEO of Century21 Fortuna Investment International Real Estate Agency, told Business Cambodia that the real estate sector in Cambodia in 2021 will increase.

Real estate sector change in 2021 in Cambodia

Real estate sector change in 2021 in Cambodia

And the reason for the increase is because in 2020 there was a global epidemic of Covid-19 virus for almost a full year from February to December until now, some sectors have been particularly affected. That is related to tourism and hospitality, as it affects some sectors as well, such as the real estate sector, which makes some investors withdraw to return to their home countries without being able to continue investing or operating their businesses.

However, by 2021, the situation of Covid-19 has improved a lot, because in other countries can control the situation and, in some countries, can produce more vaccines to prevent that. The prevalence of Covid-19 has been greatly reduced. And in a little while, I think in the next two to three months, cross-border travel will increase, so that the investors will be able to resume their duties, and like other business owners who have left the country. The rebirth of the Covid epidemic will return, so some businesses will gradually resume, investors will start to come and the situation of Covid in the country can be controlled, so that some sectors, especially real estate will start to increase gradually, and in 2021, while the Royal Government has also forecast economic growth in Cambodia.

How will the real estate sector change in 2021 in Cambodia

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Angkor Times
Angkor TimesExperienced
Asked: January 7, 2021In: Make Money

Which institution mediates and resolves disputes in the real estate sector in Cambodia?

Disputes between real estate developers and buyers regarding real estate purchase contracts may be the subject of mediation and conciliation by the Ministry or Department. The Ministry or the Department of Mediation and Dispute Resolution at the request of the ...Read more

Disputes between real estate developers and buyers regarding real estate purchase contracts may be the subject of mediation and conciliation by the Ministry or Department. The Ministry or the Department of Mediation and Dispute Resolution at the request of the parties within 2 (two) months at the latest.

Dispute resolution can lead to the signing of a conciliation agreement, which must be signed by the parties to the dispute and recognized by the department or department. The conciliation agreement has immediate effect on both parties.

Disputing parties who are dissatisfied with the decision or other measures of the Ministry or the Department have the right to file a complaint to the Legislative Council of the Ministry of Economy and Finance Objects before enforcing a lawsuit to court, except in criminal cases.

The Legislative Council of the Ministry of Economy and Finance shall resolve the complaint within 90 working days after receiving the complaint or within an appropriate period. In resolving disputes, the Legislative Council of the Ministry of Economy and Finance may invite the parties to the dispute to ask questions or provide evidence as necessary.

Which institution mediates and resolves disputes in the real estate sector in Cambodia

Which institution mediates and resolves disputes in the real estate sector in Cambodia

Decisions on dispute resolution shall be made in writing, stating the facts, reasons and conclusions. In case of dissatisfaction with the decision of the Legislative Council, the parties to the dispute may file a complaint to the competent court in accordance with the provisions in force.

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aalan
SOVANN
SOVANNExperienced
Asked: December 3, 2020In: Make Money

How will technological advances benefit the real estate sector in Cambodia?

How will technological advances benefit the real estate sector in Cambodia? ...Read more

How will technological advances benefit the real estate sector in Cambodia?

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