Everything you need to know is included in our Cambodia Property Pack
Whether you're seeking a serene villa in Siem Reap, a trendy apartment in Phnom Penh, or a profitable rental property in the coastal town of Sihanoukville, Cambodia provides a wide array of real estate choices to suit your investment goals.
However, making a property investment in this country can be challenging, especially with all the new laws and regulations involved.
We're committed to breaking down everything you need to know in a way that's easy to grasp, making it simpler for you. If you have any lingering questions, please feel free to get in touch with us.
Also, for a more detailed analysis, you can download our property pack for Cambodia, made by our country expert and reviewed by locals.
How is investing in real estate in Cambodia?
Is Cambodia an attractive destination for property investment?
Cambodia has been emerging as a noteworthy destination for property investment, attracting interest from both regional and international investors.
The appeal of Cambodia's real estate market is multifaceted, combining robust economic growth with a vibrant cultural landscape.
A key factor in Cambodia's attractiveness as an investment destination is the dynamism of its real estate market. For instance, in recent years, cities like Phnom Penh, Siem Reap, and Sihanoukville have seen substantial growth in property values.
To illustrate, Phnom Penh has experienced a notable annual increase in property prices, often exceeding 10%. This growth is driven by increasing urbanization, a growing middle class, and significant foreign investment, especially in the capital city.
Looking at the historical performance of the Cambodian real estate market, it's been a story of rapid growth, especially post the early 2000s.
The market has remained relatively resilient, even during global economic downturns. While Cambodia's real estate market did feel the impact of the 2008 global financial crisis, the effects were not as severe as in many Western countries. Since then, the market has shown a strong recovery, buoyed by the country's overall economic growth.
In terms of investment opportunities, Cambodia offers a wide range. Residential properties in Phnom Penh and Siem Reap, which are bustling urban centers, tend to be popular, particularly among expatriates and the growing local middle class.
Additionally, commercial properties, including office spaces and retail outlets in these cities, are seeing increased demand.
For those looking at a different kind of investment, the coastal areas and islands like Koh Rong are becoming hotspots for tourism-related property investments, including hotels and resorts.
One unique aspect of Cambodian properties, especially in Phnom Penh, is their fusion of traditional Khmer architectural elements with modern designs. This blend not only adds a cultural charm to the properties but also appeals to a broad range of investors and residents who are seeking a mix of tradition and modernity in their living spaces.
Regarding the safety and stability of investing in Cambodia, the environment is generally favorable.
The country has been experiencing steady economic growth and political stability in recent years, making it a relatively safe investment destination compared to some other regions.
However, it's always advisable to be aware of the local laws and market conditions.
Knowing the local language, Khmer, is not an absolute necessity for property investment in Cambodia. In major cities and tourist areas, many professionals in the real estate and legal sectors are proficient in English, facilitating the investment process for foreigners.
Nonetheless, having some knowledge of the local language and customs can enhance your understanding of the market and assist in navigating local regulations and cultural nuances.
What are the trends forecasts for the real estate market in Cambodia?
Understanding the current trends in Cambodia's housing market is crucial for making informed predictions about its future. Presently, the market is experiencing a phase of rapid growth and transformation.
This growth is driven by several factors, including increasing foreign investment, a growing middle class, and urbanization.
A key trend in Cambodia's real estate market is the rising demand for residential properties, especially in urban areas like Phnom Penh, Siem Reap, and Sihanoukville. This demand is fueled by the country's young population and the influx of foreign residents and investors.
The commercial sector, particularly hospitality and retail, is also witnessing significant growth, thanks in part to the country's burgeoning tourism industry.
Looking ahead, several factors could influence the trajectory of Cambodia's real estate market. First, foreign investment continues to play a vital role. Cambodia's relatively open policies towards foreign property ownership, along with its strategic location in Southeast Asia, make it an attractive destination for investors.
As long as these policies remain favorable, the influx of foreign capital is likely to continue, bolstering the market.
Another factor to consider is the ongoing urbanization and infrastructural development. As more people move to cities and as transport and other infrastructures improve, we can expect a corresponding rise in property values in urban and suburban areas.
Additionally, the government's focus on developing key economic zones and improving connectivity between cities is likely to open up new opportunities for real estate development.
However, there are potential challenges and uncertainties that could impact the market. Political stability is a crucial factor. Any significant political upheaval or policy shift could deter foreign investment and affect the market negatively.
Economic factors, such as inflation, interest rates, and the global economic climate, also play a role. A downturn in the global economy could lead to a decrease in tourism and foreign investment, which would impact the real estate sector.
In terms of legislation and government policy, any changes in property ownership laws, taxation, or investment regulations could have a significant impact. For instance, stricter regulations on foreign ownership or changes in tax policies could either stimulate or hinder market growth.
It's also important to keep an eye on policies related to infrastructure development and urban planning, as these can directly affect real estate values.
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What types of property can you buy in Cambodia? What are the prices and yields?
If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Cambodia.
Investing in property in Cambodia offers a range of opportunities, each with its own set of considerations and potential benefits.
You can indeed consider building a property in Cambodia, and it's quite doable, especially with the country's growing economy and developing real estate market.
When it comes to the types of properties available for investment, you have a few options. Residential properties, including apartments, condominiums, and houses, are popular choices.
Commercial properties, like office spaces and retail outlets, are also viable options, especially in burgeoning urban areas. Then there are land investments, which can be appealing, but they come with their own set of regulatory considerations.
The average cost of residential properties in Cambodian cities varies widely. Phnom Penh, as the capital, tends to be the most expensive, but even there, prices can range significantly based on location, property type, and amenities. As a rough estimate, prices can range anywhere from $1,500 to $3,000 per square meter in prime areas.
However, more affordable options exist in developing neighborhoods or in smaller cities.
Regarding the ratio of renters to owners, Cambodia has a growing rental market. Many people, especially younger demographics and expatriates, prefer renting in urban areas. The buy-to-let market is quite active, with many investors purchasing properties specifically for rental purposes.
The rental yield potential can be attractive, especially in major cities and tourist hotspots. Yields can vary, but they generally range from 5% to 7% annually, which is quite competitive.
Rental demand in Cambodian cities is influenced by various factors including urbanization, the influx of foreign workers and expatriates, and the growing middle class. This demand makes the rental market quite robust, particularly in Phnom Penh, Siem Reap, and Sihanoukville.
Tourism plays a significant role in the property market, especially when it comes to short-term rental demand and pricing.
Cities like Siem Reap, close to the Angkor Wat temple complex, see a high demand for short-term rentals. This demand can drive up prices and yields during peak tourist seasons. However, it's also subject to fluctuations based on tourism trends.
Reselling property in Cambodia is relatively straightforward, but the ease of resale often depends on the property's location, condition, and market demand at the time of sale. The property market is still developing, so while there's potential for quick resale, it's not always guaranteed.
Typical holding periods for property in Cambodia can range from a few years to a decade or more. This range is influenced by the type of property, location, and market conditions.
As for capital gains, the market has seen steady growth in recent years, with some areas experiencing significant appreciation. Capital gains can range from moderate to high, but like any investment, they're not guaranteed and depend on various market factors.
Which regions in Cambodia offer the best investment opportunities?
Foreigners looking to buy property in Cambodia typically focus on areas like Phnom Penh, Siem Reap, and the coastal regions like Sihanoukville and Kep.
Each of these areas attracts a distinct type of foreign investor, influenced by various factors like lifestyle preferences, investment potential, and budget constraints.
Phnom Penh, the capital, is a hub for business and cultural activities. Foreign investors here are often drawn by the city's dynamic growth, strong rental market, and the potential for capital appreciation. However, property prices in Phnom Penh can be higher compared to other regions, reflecting its status as a major city.
The city's real estate market is diverse, offering everything from luxury condominiums to more affordable apartment options. The downside is that the cost of living can be high, and the city can be quite crowded.
Siem Reap, famous for Angkor Wat, appeals to those interested in tourism-related investments. This area attracts a mix of investors and lifestyle purchasers, with a focus on boutique hotels, guesthouses, and residential properties.
The property prices here are generally more affordable than in Phnom Penh, and the city has a more laid-back atmosphere. However, the reliance on tourism can make the market more volatile, especially in times of global travel disruptions.
Coastal areas like Sihanoukville and Kep have seen increased interest in recent years, especially from investors looking for resort and leisure properties. Sihanoukville, in particular, has undergone significant development, driven largely by foreign investment.
This has led to a surge in property prices, though some areas still offer value for money. Kep, being quieter and less developed, is more appealing to those looking for a peaceful lifestyle investment.
The downside of these coastal areas can be the lack of infrastructure and the potential environmental impact of rapid development.
Looking forward, areas around the Greater Phnom Penh region and secondary cities like Battambang and Kampot show potential for growth. These areas are benefiting from improved infrastructure and increased interest from both local and foreign investors.
The expansion of urban areas and the growth of the middle class in Cambodia could drive demand for residential and commercial properties in these regions.
When considering investment, it's essential to be aware of the legal landscape. Foreigners cannot own land outright in Cambodia but can own condominiums from the first floor upwards.
Also, the Cambodian property market can be opaque, with less regulation than in some other countries, so thorough due diligence is essential.
Areas to be cautious about include overly rural or remote areas where infrastructure is lacking and property resale can be challenging.
Additionally, areas with overdevelopment, such as some parts of Sihanoukville, might face issues like decreased property values and environmental concerns.
Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Cambodia.
| Area | Attraction | Property Prices | Pros | Cons | Suitable For |
|---|---|---|---|---|---|
| Phnom Penh | Business and cultural hub | High | Dynamic growth, strong rental market | High cost of living, crowded | Business-focused investors |
| Siem Reap | Tourism (Angkor Wat) | Moderate | Affordable, laid-back | Tourism-dependent market | Tourism-related investments |
| Sihanoukville | Resort and leisure | Rising | Significant development | Lack of infrastructure, environmental impact | Resort-focused investors |
| Kep | Peaceful lifestyle investment | Variable | Quieter, less developed | Limited infrastructure | Peaceful lifestyle seekers |
| Greater Phnom Penh & Secondary Cities | Growth potential | Varies | Improved infrastructure, growing interest | Emerging market risks | Long-term growth investors |
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Who can invest in real estate in Cambodia?
Investing in property as a foreigner in Cambodia
When investing in housing property in Cambodia as a foreigner, it's important to understand that there are certain regulations and restrictions that differ from those applied to locals.
First and foremost, foreigners cannot own land outright in Cambodia. However, there are alternatives like acquiring property through a long-term lease or owning a condominium unit, provided that the condominium building is at least 51% Cambodian-owned.
The restrictions on property ownership are not necessarily dependent on your country of origin.
Regardless of where you're from, the basic rules apply equally to all foreigners. This means that whether you're from the United States, Europe, Australia, or anywhere else, the limitations and opportunities in the Cambodian real estate market are the same for you.
Living in Cambodia is not a prerequisite for owning property. You can purchase and own property even if you don't reside in the country.
In terms of visas, holding a tourist visa is generally sufficient for the property purchasing process, but owning property does not grant you any special residency rights. A more stable visa or a residence permit might be required for long-term stays.
There's no restriction on the duration a foreigner can own property in Cambodia. Once you purchase a property, it's yours until you decide to sell it or pass it on. Speaking of which, properties can indeed be passed on to heirs or sold to another foreigner, subject to the same property ownership laws that applied to you.
Regarding documentation, while a Tax ID may not be mandatory for the purchase, it is required for ongoing tax obligations. Other necessary documents typically include your passport, a valid visa, and sometimes proof of funds.
It's advisable to have all your documents in order, as incomplete paperwork can lead to complications in the purchasing process.
No specific authorization from a governmental institution is required for foreigners to purchase property, but it's crucial to ensure that all legal procedures are followed, often necessitating the services of a local lawyer or a real estate agent who is familiar with the intricacies of Cambodian property law.
Having a local bank account is not mandatory but can be beneficial, especially when dealing with regular payments like maintenance fees or utilities.
While transactions can often be made in foreign currencies, having a local account can simplify these processes and help avoid exchange rate fluctuations.
Finally, in terms of taxation, foreigners are generally subject to the same property tax rates as local Cambodians. This includes taxes during purchase, such as stamp duty, and ongoing taxes like yearly property tax.
It's important to factor these into your budget when considering an investment in Cambodian real estate.
Residency and investment in Cambodia
Gaining residency in Cambodia through real estate investment is not as straightforward as it might be in some other countries.
Unlike certain nations that offer clear-cut "golden visa" programs linking property investment to residency, Cambodia's regulations are less direct in this regard.
Firstly, it's essential to understand that simply purchasing property in Cambodia does not automatically grant you residency. The country's laws regarding foreign property ownership are also quite specific.
Foreigners can only own property on the first floor or higher (not the ground floor) and only up to 70% of any one building. This rule is vital to remember when considering an investment.
However, owning property can indirectly aid in obtaining a long-term visa, which is a stepping stone towards residency. A common route is to acquire a business or investment visa, which can be renewed annually.
To be eligible for this, you might need to show your investment in Cambodia, which can include property ownership. But, remember, this is not a formal program linking property investment to visas.
The minimal investment is not explicitly defined for this pathway, as the business visa is more about your contribution to the economy rather than a set investment figure. This flexibility means your investment can vary widely based on the property and your business activities.
Once you have a long-term visa, you can then apply for a residency permit. The time frame to qualify for permanent residency is quite lengthy – typically, you need to have legally resided in Cambodia for seven consecutive years.
During this time, keeping your visa and residency permit valid and staying in compliance with all local laws is essential.
Permanent residency is a separate status and is not automatically granted at any stage. Even after living in Cambodia for over seven years, you need to apply for it and meet all the requirements set out by the Cambodian government.
Regarding citizenship, having permanent residency can eventually lead you to become eligible for citizenship, but it's a long process with additional requirements.
You'll need to demonstrate a deep understanding of Khmer culture, language, and history.
Also, it's important to note that Cambodia does not generally allow dual citizenship, so this could mean renouncing your current citizenship.
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How to get started to invest in real estate in Cambodia?
What is the step-by-step process to buy property in Cambodia?
We'll give her a brief overview. However, there is a detailed and dedicated document to the buying process in our property pack for Cambodia.
Buying a property in Cambodia involves a series of steps that can be both straightforward and complex, depending on various factors including legal procedures and cultural practices.
Starting with finding a property you like, this part is similar to other countries. You search through listings, visit properties, and once you find your ideal home, the real journey begins.
Making an offer is the first official step. This is usually done through negotiation, often with the help of a real estate agent. Once your offer is accepted, it's time to get into the legal aspects.
The legal side of buying property in Cambodia can be intricate, especially for foreigners. One crucial step is the due diligence process. This involves checking the property's legal status, ensuring there are no outstanding disputes or encumbrances. This part is critical and can be error-prone. Mistakes here can lead to significant problems later on.
It's advisable to work with a reputable lawyer or a legal firm experienced in Cambodian property law.
Next comes the drafting and signing of the sales agreement. This is a legal contract that outlines the terms of the sale, including payment schedules, property details, and other conditions. Payment terms in Cambodia can vary, with some sellers requiring full payment upfront, while others may agree to installment plans.
The registration of the property is a step that can be quite different from other countries. In Cambodia, property ownership is registered with the relevant Sangkat (commune) office and the Land Management Office. This process involves a fair amount of paperwork and can be time-consuming.
Ensuring all documents are correctly filled out and submitted is vital to avoid delays.
As for the timeline, the entire process from finding a house to full ownership can take anywhere from a few weeks to several months. The lengthiest parts are often the legal checks, negotiations, and the registration process. Patience is key during these stages.
Understanding the language can be a significant advantage. While it's not absolutely necessary to know Khmer, the local language, it can make the process smoother, particularly when dealing with legal documents or communicating with local authorities. Many foreigners rely on translators or local agents to bridge the language gap.
Cultural norms and practices in Cambodia can also play a role in the property buying process. For example, the concept of 'face', or maintaining respect and dignity in interactions, is important. Being respectful and understanding of local customs can facilitate smoother dealings.
Additionally, building a good relationship with the seller and local officials can sometimes be as important as the legal and financial aspects of the deal.
Looking for property in Cambodia
Please note that there is a list of contacts (real estate agencies, lawyers, notaries, etc.) and websites in our pack of documents related to the real estate market in Cambodia.
In Cambodia, the search for a house usually takes place through various channels, each with its own set of practices and nuances.
Understanding these options can help you navigate the market more effectively.
One common way people look for houses is through online housing portals. These websites list a wide range of properties, from apartments to villas, and are a good starting point for getting an idea of what's available in your desired area and price range.
These portals are user-friendly and often have English language options, making them accessible to both locals and expatriates.
Real estate agents play a significant role in the Cambodian property market. Many people prefer to work with agents because they provide a comprehensive service that includes finding listings, arranging viewings, and assisting with the negotiation and paperwork. Agents often have access to listings that are not available online or are not widely advertised.
However, not all agents are equally reliable. It's important to work with someone who is recommended, either through reviews or by people you trust. A red flag to watch out for is an agent who is pushy or seems more interested in closing a deal quickly rather than finding you the right property.
Facebook groups and other social media platforms are also popular in Cambodia for property searches. There are numerous groups where people post listings or ask for recommendations.
These platforms can be useful for getting insights from locals and expats, but it's crucial to be cautious as these listings are not always verified.
Direct access to property listings is possible, especially through online portals, but many buyers find it more convenient to go through agents who can provide curated listings based on specific requirements. This saves time and can lead to discovering properties that you might not find independently.
The role and responsibilities of real estate agents in Cambodia can be somewhat different from what you might be used to. Typically, a seller's agent is focused on marketing the property and getting the best possible deal for the seller, while a buyer's agent is supposed to look after the interests of the buyer. However, the distinction isn't always clear-cut, and some agents work as intermediaries for both parties.
Commission structures for real estate agents are not standardized in Cambodia. They can vary depending on the agent, the type of property, and the deal's complexity. It's important to discuss and agree on the commission rate before engaging an agent's services.
Typically, the seller pays the agent's commission, but this can be subject to negotiation.
When dealing with real estate agents in Cambodia, clear communication is key. Be upfront about your requirements and budget. Don't hesitate to ask questions or seek clarification on any aspect of the process.
Building a good rapport with your agent can be beneficial, but always maintain a professional distance and make decisions based on your best interests.
Buying property in Cambodia
Negotiation is quite common when buying a house in Cambodia. It's a part of the buying process where you can potentially save a significant amount of money. The amount of discount you should aim for depends on several factors, such as the property's condition, market demand, and the seller's urgency.
Generally, starting with an offer 5-10% below the asking price is not uncommon. However, it's important to gauge the situation and adjust your strategy accordingly. If it's a buyer's market, you might have more room to negotiate, but in a seller's market, low offers might be quickly dismissed.
Conducting due diligence is a critical aspect of buying property in Cambodia. This involves ensuring the property you intend to buy has a clear title and no legal encumbrances.
A title search is the first step in this process. This search will reveal the property's ownership history, any mortgages or liens against it, and whether all property taxes have been paid. To conduct a title search, you need to access the records at the local land registry office where the property is located. This process can be intricate, and understanding the legal terminology and procedures can be challenging.
While it's not mandatory to hire a lawyer or a notary in Cambodia for property transactions, it's highly recommended, especially for foreigners or those unfamiliar with the local real estate laws.
A lawyer or a notary can guide you through the legal intricacies, conduct a thorough title search, and help ensure that the property you're buying doesn't have any legal issues. The cost for these services can vary widely depending on the complexity of the transaction and the reputation of the lawyer or notary. It's wise to shop around and get quotes from several professionals before making a decision.
Regarding the specific documents required for the purchase, you'll need the property's original title documents, which include the land title certificate, and any other relevant legal documents pertaining to the property.
Additionally, you'll need to provide your identification documents. The process for obtaining these documents involves coordinating with the seller and possibly the local land office. Your lawyer or real estate agent can assist with this.
The transfer of property ownership in Cambodia is officially done through the transfer of the title deed, which must be registered with the local land registry office. This process involves submitting the necessary paperwork, including the sales agreement, proof of payment, and the original title documents. The local land office will then issue a new title deed in your name, officially transferring ownership.
This process can take some time, so patience is key.
Buying real estate in Cambodia can be risky
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Financing a property in Cambodia
Financing property investments in Cambodia as a foreign investor can be a bit challenging, primarily because the options are more limited compared to local buyers. Here's a breakdown of the process and what to expect.
Firstly, it's important to understand that getting a loan from a Cambodian bank as a foreigner is possible but not very common. Cambodian banks are often hesitant to provide loans to foreigners due to perceived risks. Those who do manage to secure a loan usually face higher interest rates compared to locals.
The average interest rates can vary, but they are generally higher than what you'd expect in many Western countries. You might find rates ranging from 6% to 10%, or even higher, depending on the bank and your personal circumstances.
Regarding the payment schedule, typically, you pay a deposit when you sign the initial agreement to purchase the property. This deposit shows your commitment to the purchase and is often around 10% to 30% of the total sale value. This percentage can vary depending on the agreement with the seller and the type of property. The remaining balance is usually paid upon the completion of the sale, which is when the transfer of ownership takes place.
For the majority of foreign investors, the more practical route is to bring funds from overseas or to secure financing in their home country, especially if they can access lower interest rates there.
The closing costs and fees associated with buying property in Cambodia can add a significant amount to the overall cost. These include legal fees, agent commissions, and transfer taxes. Legal fees depend on the complexity of the transaction and the lawyer you choose.
Agent commissions are typically paid by the seller, but it's always good to clarify this in advance.
When it comes to taxes, there's a stamp duty or transfer tax, which is typically 4% of the property’s assessed value and is paid by the buyer. This is a significant cost to consider when budgeting for your property purchase.
Property tax rates in Cambodia are relatively low. The annual property tax is around 0.1% of the property's market value, which is quite reasonable compared to many other countries. However, if you decide to sell the property, you should be aware of the capital gains tax. Capital gains tax can be a bit complex, as it depends on the type of property and the length of ownership, but it's generally around 20% of the profit made on the sale for foreigners.
Additional fees can include notary fees, registration fees, and potentially other administrative costs. It's essential to have a clear understanding of all these fees before finalizing the purchase to avoid any surprises.
What are the risks and pitfalls when buying property in Cambodia?
Investing in property in Cambodia, like in any country, comes with its set of risks, and it's essential for foreign investors to be aware of these, especially the unique challenges posed by the Cambodian real estate market.
Firstly, regarding the security of property rights for foreigners, it's important to note that Cambodia has specific restrictions.
Foreigners cannot own land outright; they can only own properties in co-owned buildings, and even then, only the upper floors. This limitation is a significant factor to consider as it can impact the resale value and the type of property you can invest in.
A unique pitfall in Cambodia is the issue of 'soft' and 'hard' land titles. A hard title is an officially recognized document providing the strongest form of property ownership. In contrast, a soft title is more common and less expensive but comes with higher risks as it's not recognized at the national level, only locally. Many foreigners aren't aware of this distinction and may inadvertently purchase property with a soft title, which can lead to legal complexities and disputes.
Another specific challenge is the lack of a comprehensive and transparent land registry. This can lead to disputes over land ownership and boundaries. Cases where land sold to foreign investors was later claimed by someone else with a seemingly legitimate claim have occurred.
It's crucial to conduct thorough due diligence and possibly hire a local expert or lawyer to navigate these issues.
Regarding environmental risks, Cambodia, like many Southeast Asian countries, is prone to certain natural hazards. Flooding, especially in the rainy season, can be a significant issue in certain areas. This risk is compounded by rapid urbanization and inadequate drainage in some cities. Climate change implications, such as rising sea levels and increased frequency of extreme weather events, could also impact property values in the future, particularly in coastal areas.
Case studies of foreign investment failures often revolve around insufficient due diligence, lack of understanding of local laws, and issues with land titles. For instance, there have been instances where foreign investors purchased property on leased land without fully understanding the terms of the lease or the process for renewal, leading to complications when the lease expired.
Insurance is a crucial factor for foreign property owners in Cambodia. Standard property insurance is available and recommended, covering risks like fire, theft, and sometimes natural disasters. Liability insurance is also worth considering, especially if you plan to rent out the property.
To mitigate these risks, thorough due diligence is essential. This includes verifying land titles, understanding local laws and restrictions, and being aware of environmental hazards. Hiring a reputable local lawyer or property expert can provide valuable guidance and help navigate the complexities of the Cambodian real estate market.
In case of conflicts or disputes, Cambodia does have legal protections in place for foreign property buyers. However, the legal system can be challenging to navigate, and cases can take a long time to resolve.
The reliability of legal recourse can vary, and it's often influenced by local dynamics and the specifics of the case.
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This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.