Cambodia Listed as a Top Retirement Destination
By | January 8, 2014

Cambodia has for the first time made it onto the Global Retirement Index, a yearly list of the world’s top retirement locations.

The list, compiled annually for the past 30 years by International Living Magazine, compares countries throughout the world across a range of categories including cost of living, ease and cost of purchasing real estate, entertainment and amenities, climate, health care and ease of integration.

Panama, which offers an attractive pensioner residence program and pensioner visas, topped the rankings. Cambodia, which sneaks onto the list at last place out of 24, scores variably across the categories, earning full marks and topping the rankings on cost of living, but scoring lowest by a significant margin in the health-care category.

Cambodia’s comparatively low scores in the table, including the lowest scores in both real estate and “special benefits offered to foreign retirees,” should not put off those dreaming of a better life abroad.

“Remember, we measure here only the very best havens. So the country last on our list—newcomer to the index Cambodia—is still one of the best in the world,” says the report.

David Murphy, director of Independent Property Services in Phnom Penh, said that though there is a definite market here for retirees, it is usually a specific type of retired person who chooses to come to Cambodia—younger and more transient.

“The market in Cambodia is for active retirees, those who come for a year or two and are self-funded and generally wealthy that work in development projects around the country, usually just renting properties in Phnom Penh,” he said.

A new law enacted in 2010 allows foreigners to own apartments and condominiums, but not land, a restriction that might still put off some pensioners looking for a place to settle down.

“I wouldn’t say the property law is prohibitive, but I would like to see the laws on land ownership for foreigners relaxed,” he said.

Ho Vandy, co-chair of the Government-Private Sector Working Group on Tourism, said that as yet there are no official figures on the number of foreigners who had retired to Cambodia, as it is a relatively new phenomenon.

“We are now more open to foreigners, and after the regional integration of the Asean community in 2015 there will be more development and more investment, and Cambodia will increasingly become more attractive to all kinds of tourists,” he added.

© 2014, The Cambodia Daily. All rights reserved. No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.

LATEST

It’s dinnertime at My Furry Place. Dogs of all shapes and sizes follow the whiff of brown rice and beef liver into the kitchen of Elma Placido, the owner of this pet sitting business in Phnom Penh. In an adjacent room, about eight cats are perched on any bit of furniture they can find.

One man was killed and two were seriously injured in Kandal province on Tuesday night after a fight broke out during a Khmer New Year party at a local pagoda, police and local officials said.

Along Phnom Penh’s industry-heavy Veng Sreng Street on Wednesday, garment factories lay idle in observance of Khmer New Year. The dorms around them were empty, save for the few workers who could not afford the bus ticket home for the holiday, which ended Wednesday.

Thirty-nine years after the Khmer Rouge took power on April 17, 1975, tribute is being paid afresh to survivors and victims of the regime with a new series of exhibitions planned at Phnom Penh’s Tuol Sleng Genocide Museum, a former Khmer Rouge prison.

Security guards at the center of a yearlong land dispute between families in Phnom Penh’s Boeng Kak community and the Khun Sear Import Export Company on Wednesday accused the families of attacking them during a late-night Khmer New Year drinking party.

The Cambodia Daily | All the News Without Fear or Favor | The Daily Newspaper of Record Since 1993