The Associated Press
PHNOM PENH, Cambodia - Foreigners will be able to buy real estate in Cambodia -- as long as it's above the ground floor -- under a proposed law that cleared the lower house of parliament Monday.
Cambodia's National Assembly approved the long-awaited Foreign Ownership Property Law after a three-day debate by a vote of 85 to 11. It needs to pass the Senate and King Norodom Sihamoni before becoming law, both of which are considered technicalities.
Until now, foreigners could not own land or property in the impoverished Southeast Asian country, though many skirted the law by teaming up with Cambodian buyers.
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