Phnom Penh (FN), Nov. 26 – Cambodian Prime Minister Hun Manet announced that, to support the recovery of the country’s real estate sector, the Royal Government will extend the stamp duty exemption for house buyers purchasing properties valued at less than USD 70,000 until the end of 2025. This exemption also applies to properties with pre-sale contracts signed before 2020.

In addition, Samdech Thipadei is preparing an incentive to exempt first-time homebuyers purchasing properties worth up to USD 210,000 from property transfer tax, speaking on Tuesday (Nov. 26) during the closing session of the 2024 annual meeting of the Ministry of Land Management, Urban Planning, and Construction.

“Buyers who purchased properties before 25 February 2020 [under principles announced by Samdech Techo] will not be subject to stamp duty. I now declare that first-time buyers purchasing properties valued at less than USD 70,000 will also receive a stamp duty exemption until the end of 2025, including those who have not yet transferred ownership,” the premier underscored.

Samdech Thipadei added, “I am working on an additional policy for first-time homebuyers purchasing condominiums or other properties valued between USD 70,000 and USD 210,000, which will also qualify for a stamp duty exemption. This policy will be in effect until 2025.”

On the occasion, the premier instructed the General Department of Taxation to communicate and enforce this policy through its network of tax offices across all provinces and municipalities nationwide.

Samdech Thipadei Hun Manet also explained that the preferential transfer tax is a measure to revitalise the real estate sector by injecting liquidity and facilitating property transactions, ultimately contributing to economic growth.
=FRESH NEWS