Authored by the expert who managed and guided the team behind the Cambodia Property Pack
Everything you need to know before buying real estate is included in our Cambodia Property Pack
If you're a foreigner thinking about buying property in Cambodia, you're probably wondering which neighborhoods actually deliver good returns and which ones you should skip entirely.
Cambodia's real estate market has some unique rules for foreign buyers, especially around what you can legally own, and the right neighborhood can make or break your investment.
We constantly update this blog post to reflect the latest market data, legal changes, and on-the-ground insights from Cambodia's property market.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Cambodia.
What's the Current Real Estate Market Situation by Area in Cambodia?
Which areas in Cambodia have the highest property prices per square meter in 2026?
As of early 2026, the three most expensive areas for residential property in Cambodia are Boeung Keng Kang 1 (BKK1), Tonle Bassac in Khan Chamkar Mon, and the riverside pockets of Daun Penh near Wat Phnom, all located in central Phnom Penh.
In these premium Phnom Penh neighborhoods, you can expect to pay between $2,000 and $3,500 per square meter for quality condo units, which is roughly double the city-wide average of around $1,500 per square meter.
Each of these areas commands high prices for specific reasons that go beyond just being "central":
- BKK1: Embassy district with the highest concentration of international restaurants, cafes, and walkable streets.
- Tonle Bassac: Home to AEON Mall and premium serviced apartments, making it the retail and lifestyle hub.
- Daun Penh riverside: Historic district with river views, heritage buildings, and proximity to the Royal Palace.
Which areas in Cambodia have the most affordable property prices in 2026?
As of early 2026, the most affordable areas for foreign buyers looking at condos in Cambodia are Dangkao district in southern Phnom Penh, outer Meanchey district, parts of Sen Sok near Phnom Penh Thmey, and Kouk Chak in Siem Reap.
In these budget-friendly areas of Cambodia, you can find new condo units starting from $800 to $1,200 per square meter, which represents a 30% to 50% discount compared to central Phnom Penh neighborhoods.
However, each of these affordable areas comes with trade-offs you should understand before buying: Dangkao is still developing its retail and transport infrastructure, Meanchey's outer pockets lack walkable amenities, Sen Sok requires a car or motorbike for daily errands, and Kouk Chak in Siem Reap sits far from the main tourist draw around Pub Street and the temples.
You can also read our latest analysis regarding housing prices in Cambodia.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Cambodia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Which Areas in Cambodia Offer the Best Rental Yields?
Which neighborhoods in Cambodia have the highest gross rental yields in 2026?
As of early 2026, the neighborhoods in Cambodia delivering the highest gross rental yields are Toul Tom Poung (Russian Market) at 6% to 8.5%, the BKK2 and BKK3 edges at 6% to 8%, Toul Kork's Phsar Depou corridor at 6.5% to 8%, and parts of Sen Sok around Tuek Thla at 6.5% to 9%.
Across Phnom Penh as a whole, typical gross rental yields for investment properties range from 4.5% in premium central locations to around 9% in well-chosen suburban condos, with most investors landing somewhere in the 6% to 7% range.
These top-yielding neighborhoods outperform others for distinct reasons:
- Toul Tom Poung (Russian Market): Strong expat tenant demand keeps rents stable while purchase prices stay below BKK1.
- BKK2 and BKK3 edges: Walkable to premium areas but priced 20% to 30% lower than BKK1 itself.
- Toul Kork (Phsar Depou corridor): Schools and offices create steady long-term tenant demand from families.
- Sen Sok (Tuek Thla area): New mid-market stock attracts local salaried tenants at lower entry prices.
Finally, please note that we cover the rental yields in Cambodia here.
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Which Areas in Cambodia Are Best for Short-Term Vacation Rentals?
Which neighborhoods in Cambodia perform best on Airbnb in 2026?
As of early 2026, the neighborhoods in Cambodia that perform best on Airbnb are BKK1 and BKK2 in Phnom Penh with around 35% occupancy and $40 average nightly rates, Tonle Bassac near AEON Mall, and Wat Bo in Siem Reap which achieves higher nightly rates around $62 but lower occupancy near 24%.
In these top-performing Airbnb neighborhoods, a well-managed one-bedroom condo in Phnom Penh can generate $400 to $600 per month in short-term rental revenue, while a standout villa in Siem Reap's Wat Bo area might reach $700 to $1,000 during peak tourist season.
Each of these neighborhoods attracts short-term guests for specific reasons:
- BKK1 and BKK2: First-time visitors feel safe here with walkable restaurants and embassy proximity.
- Tonle Bassac: AEON Mall access and nightlife options appeal to business travelers and tourists alike.
- Wat Bo in Siem Reap: Boutique hotel zone with temple-visiting tourists seeking authentic local stays.
- Daun Penh riverside: City views and tourist sites within walking distance attract photography-focused guests.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Cambodia.
Which tourist areas in Cambodia are becoming oversaturated with short-term rentals?
The tourist areas in Cambodia showing clear signs of short-term rental oversaturation are Siem Reap's central tourist zone, Sihanoukville's beach areas around Otres and Serendipity, and parts of Phnom Penh's Daun Penh district with generic condo stock.
In Siem Reap alone, AirDNA tracks over 3,400 active vacation rental listings competing for guests, while Sihanoukville has hundreds of units chasing inconsistent demand from a smaller visitor base.
The clearest warning sign of oversaturation in these Cambodia markets is structurally low occupancy, with Siem Reap averaging just 24% and Sihanoukville hovering around mid-20% occupancy, meaning three out of four nights go unbooked even during decent seasons.
We have made this infographic to give you a quick and clear snapshot of the property market in Cambodia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Which Areas in Cambodia Are Best for Long-Term Rentals?
Which neighborhoods in Cambodia have the strongest demand for long-term tenants?
The neighborhoods in Cambodia with the strongest demand for long-term tenants are BKK1, Tonle Bassac, Toul Tom Poung (Russian Market), and Toul Kork in Phnom Penh, where quality units in good buildings typically find tenants within two to four weeks.
In these high-demand Phnom Penh neighborhoods, vacancy rates for well-priced, well-maintained apartments stay relatively low, with properties in prime BKK1 locations often renting before the current tenant moves out.
Each neighborhood attracts a distinct tenant profile:
- BKK1: Embassy staff, NGO workers, and corporate executives on housing allowances.
- Tonle Bassac: Young professionals and business travelers who prioritize retail access and nightlife.
- Toul Tom Poung (Russian Market): Long-term expats, remote workers, and lifestyle-focused renters.
- Toul Kork: Families with children attending nearby international schools.
What makes these neighborhoods especially attractive to long-term tenants in Cambodia is the combination of walkable daily conveniences, reliable building management, and established expat-friendly services like Western supermarkets, gyms, and healthcare.
Finally, please note that we provide a very granular rental analysis in our property pack about Cambodia.
What are the average long-term monthly rents by neighborhood in Cambodia in 2026?
As of early 2026, average long-term monthly rents in Cambodia's main neighborhoods range from around $330 per month for a basic apartment in Sen Sok to over $1,100 per month for a quality two-bedroom in BKK1 or Tonle Bassac.
In the most affordable neighborhoods of Phnom Penh like outer Sen Sok, Meanchey, and Dangkao, entry-level one-bedroom apartments typically rent for $250 to $400 per month.
In mid-range neighborhoods like Toul Kork and the Russian Market area, a decent one-bedroom apartment usually costs $450 to $650 per month, while two-bedrooms range from $600 to $850.
In premium neighborhoods like BKK1 and Tonle Bassac, high-end one-bedroom apartments start around $700 per month and two-bedrooms in newer buildings with amenities often reach $1,000 to $1,500 per month.
You may want to check our latest analysis about the rents in Cambodia here.
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Which Are the Up-and-Coming Areas to Invest in Cambodia?
Which neighborhoods in Cambodia are gentrifying and attracting new investors in 2026?
As of early 2026, the neighborhoods in Cambodia that are actively gentrifying and attracting new investors include the spillover streets around Toul Tom Poung (Russian Market), select riverfront sections of Chroy Changvar, certain Sen Sok corridors near improving roads, and Sala Kamreuk in Siem Reap.
These gentrifying neighborhoods in Cambodia have experienced annual price appreciation of roughly 5% to 10% over recent years, outpacing the broader market as new cafes, retail, and better infrastructure attract more residents and investors.
Which areas in Cambodia have major infrastructure projects planned that will boost prices?
The areas in Cambodia with major infrastructure projects expected to boost property prices are the south Phnom Penh corridors near Techo International Airport, districts along Ring Road No. 3, and the eastern corridor toward Vietnam along the planned Phnom Penh-Bavet expressway.
Specifically, Techo International Airport opened in September 2025 and is already reshaping the south Phnom Penh property market, while the Ring Road No. 3 project will improve access to edge districts, and the Phnom Penh-Bavet expressway will strengthen connectivity to Vietnam's manufacturing zones.
Historically in Cambodia, areas near completed infrastructure projects have seen price increases of 15% to 30% over the two to three years following completion, though gains depend heavily on whether the area also develops jobs, retail, and services alongside better roads.
You'll find our latest property market analysis about Cambodia here.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Cambodia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Which Areas in Cambodia Should I Avoid as a Property Investor?
Which neighborhoods in Cambodia with lots of problems should I avoid and why?
The areas in Cambodia that investors should generally approach with caution include STR-dependent locations with persistently low occupancy, outer districts with heavy new condo supply, and any situation involving "informal" ownership structures for landed property.
Here are the main problems affecting specific areas:
- Siem Reap's central tourist zone: Only 24% STR occupancy means most nights go empty unless your unit is exceptional.
- Sihanoukville beach areas: Mid-20% occupancy and volatile demand make rental income unpredictable.
- Outer Dangkao and Meanchey (generic new condos): Heavy supply pipeline creates price competition and weak resale liquidity.
- Landed properties with nominee arrangements: Legal risk is not compensated by any yield advantage.
For these areas in Cambodia to become viable investment options, Siem Reap would need sustained tourism growth to absorb existing listings, Sihanoukville would need diversified demand beyond gambling tourism, and outer Phnom Penh districts would need job centers and amenities to mature around new housing.
Buying a property in the wrong neighborhood is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Cambodia.
Which areas in Cambodia have stagnant or declining property prices as of 2026?
As of early 2026, the areas in Cambodia experiencing price stagnation or pressure include generic condo developments in outer Phnom Penh districts with heavy competition, tourism-only residential in Siem Reap, and parts of Sihanoukville that overbuilt during the pre-2020 boom.
In these challenging Cambodia markets, prices have either remained flat or declined by 5% to 15% over the past three to four years, with some Sihanoukville projects trading well below their original launch prices.
The underlying causes differ by area:
- Outer Phnom Penh new condos: Too much similar product chasing the same buyer pool creates discounting pressure.
- Siem Reap tourism-dependent units: Visitor numbers haven't recovered enough to support the existing accommodation supply.
- Sihanoukville speculative projects: Oversupply from the casino boom years still being absorbed with weak underlying demand.
Buying real estate in Cambodia can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
Which Areas in Cambodia Have the Best Long-Term Appreciation Potential?
Which areas in Cambodia have historically appreciated the most recently?
The areas in Cambodia that have shown the strongest appreciation over the past five to ten years are prime central Phnom Penh (BKK1, Tonle Bassac), the Russian Market area as it gentrified, select Chroy Changvar riverfront developments, and Siem Reap's Wat Bo boutique zone during tourism recovery periods.
Here's the approximate appreciation these top-performing areas have achieved:
- BKK1: Roughly 8% to 12% annual appreciation during strong years, with more modest 4% to 6% recently.
- Tonle Bassac: Similar trajectory to BKK1, driven by AEON Mall and new premium supply.
- Russian Market (Toul Tom Poung): Estimated 6% to 10% annual gains as the neighborhood upgraded its cafe and retail scene.
- Wat Bo in Siem Reap: Volatile but strong during tourism peaks, with quality properties holding value better.
The main driver behind above-average appreciation in these Cambodia areas has been the concentration of high-quality demand, whether from embassies, multinational offices, or tourism, combined with limited new supply of truly premium product in established locations.
By the way, you will find much more detailed trends and forecasts in our pack covering there is to know about buying a property in Cambodia.
Which neighborhoods in Cambodia are expected to see price growth in coming years?
The neighborhoods in Cambodia expected to see the strongest price growth in coming years are BKK2 and BKK3 (the "value-central" zone), quality pockets of the Russian Market area, airport-corridor neighborhoods in south Phnom Penh, and select Chroy Changvar riverfront projects with good access.
Here are the projected growth rates for these high-potential neighborhoods:
- BKK2 and BKK3: Expected 5% to 8% annual growth as buyers priced out of BKK1 shift here.
- Russian Market spillover streets: Projected 6% to 9% as gentrification continues expanding the desirable zone.
- South Phnom Penh airport corridor: Could see 8% to 12% if commercial development follows the new airport.
- Chroy Changvar select projects: Moderate 4% to 7% growth if bridge access remains convenient.
The single most important catalyst expected to drive future price growth in these Cambodia neighborhoods is the continued expansion of Phnom Penh's middle class and expat population into areas that offer better value than saturated premium districts.
We made this infographic to show you how property prices in Cambodia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What Do Locals and Expats Really Think About Different Areas in Cambodia?
Which areas in Cambodia do local residents consider the most desirable to live?
The areas in Cambodia that local residents consider most desirable to live are Toul Kork for families, BKK2 and BKK3 for young professionals, Sen Sok for those wanting newer housing stock, and parts of Chamkar Mon for its central convenience.
Here's what makes each area appealing to Cambodian locals:
- Toul Kork: Proximity to good schools and a family-friendly atmosphere with less traffic than downtown.
- BKK2 and BKK3: Walkable cafes and restaurants without BKK1's premium prices or tourist crowds.
- Sen Sok: Modern apartment buildings with parking and space, suited to car-owning middle-class families.
- Chamkar Mon: Central location with markets, hospitals, and government offices nearby.
These locally-preferred areas in Cambodia tend to attract middle and upper-middle-class Cambodian families, young professionals working in the city center, and small business owners who value practical convenience over lifestyle amenities.
Local preferences in Cambodia partially overlap with foreign investor targets in central areas like BKK2 and BKK3, but diverge in places like Sen Sok and Toul Kork where locals prioritize space and schools while foreigners focus more on walkability and nightlife proximity.
Which neighborhoods in Cambodia have the best reputation among expat communities?
The neighborhoods in Cambodia with the best reputation among expat communities are BKK1 (the established hub), Tonle Bassac (the modern convenience choice), Russian Market or Toul Tom Poung (the lifestyle neighborhood), and select Daun Penh riverside pockets for heritage appeal.
Here's why expats prefer these specific neighborhoods:
- BKK1: Highest concentration of Western restaurants, embassies, and English-speaking services.
- Tonle Bassac: AEON Mall, modern condos with gyms and pools, and easy access to nightlife.
- Russian Market (Toul Tom Poung): Bohemian cafe culture, artisan shops, and a tight-knit expat community.
- Daun Penh riverside: Colonial architecture, river views, and proximity to cultural sites.
The expat profiles in these popular Cambodia neighborhoods vary: BKK1 attracts diplomats and corporate transferees, Tonle Bassac draws younger professionals and business travelers, Russian Market appeals to long-term expats, remote workers, and creatives, while Daun Penh attracts heritage enthusiasts and older retirees.
Which areas in Cambodia do locals say are overhyped by foreign buyers?
The areas in Cambodia that locals commonly say are overhyped by foreign buyers are certain premium-branded buildings in BKK1, generic Siem Reap guesthouses marketed as "investment opportunities," and Sihanoukville beach properties pitched with unrealistic return projections.
Here's why locals consider these areas overvalued:
- Some BKK1 buildings: Foreigners overpay for the "BKK1" label on buildings with small units and poor management.
- Siem Reap tourism properties: Locals know occupancy is low and competition fierce despite optimistic marketing.
- Sihanoukville beach investments: Locals remember the bust cycle and question demand fundamentals beyond speculation.
Foreign buyers typically see potential in these areas that locals don't value as highly because foreigners often prioritize "prime address" marketing, tourism growth narratives, and beach lifestyle appeal, while locals focus more on practical rental demand, management quality, and realistic income projections.
By the way, we've written a blog article detailing the experience of buying a property as a foreigner in Cambodia.
Which areas in Cambodia are considered boring or undesirable by residents?
The areas in Cambodia that residents commonly consider boring or undesirable are purely residential outer districts without mixed-use street life, new condo zones in Dangkao and outer Meanchey lacking retail and dining, and industrial-adjacent areas in Sen Sok far from established neighborhoods.
Here's why residents find these areas less appealing:
- Outer Dangkao: Few restaurants, cafes, or entertainment options make daily life car-dependent and isolated.
- Far Meanchey: Limited public transport and sparse retail mean errands require significant travel time.
- Industrial Sen Sok edges: Factory proximity and lack of greenery create an uninspiring living environment.
- New condo clusters without amenities: Buildings exist but surrounding infrastructure hasn't caught up yet.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Cambodia, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Cambodia Foreign Ownership Law (2010) | It's the primary legal text defining what foreigners can own in Cambodia. | We used it to establish the legal boundaries of foreign property ownership. We also used it to explain why condos are the simplest option for foreign buyers. |
| Cambodia Land Law (2001) | It's the foundational national law for all land ownership rights in Cambodia. | We used it to explain why foreigners cannot directly own land. We also used it to frame title risk and the importance of hard titles. |
| Knight Frank Cambodia H1 2025 | Knight Frank is a major international consultancy with transparent research methods. | We used it for price per square meter data, supply pipeline analysis, and district comparisons. We also used it to identify where new condo launches are concentrating. |
| AirDNA Phnom Penh | AirDNA is the industry standard for short-term rental analytics worldwide. | We used it to quantify Phnom Penh STR occupancy, average daily rates, and revenue potential. We then converted those metrics into realistic yield estimates. |
| AirDNA Siem Reap | It provides consistent STR data allowing direct comparison between Cambodia markets. | We used it to assess Siem Reap's vacation rental demand and identify oversaturation. We also used it to compare Siem Reap performance against Phnom Penh. |
| Cambodia Ministry of Tourism Statistics 2024 | It's the official government dataset for tourism arrivals and patterns. | We used it to ground vacation rental analysis in actual visitor demand. We also used it to explain why different markets behave differently. |
| Associated Press (Airport Opening) | AP is a trusted international news agency reporting verifiable events. | We used it to confirm the September 2025 opening of Techo International Airport. We also used it to anchor our infrastructure impact analysis. |
| Cambodia MPWT (Expressway) | It's the government ministry publishing official transport project information. | We used it to identify infrastructure corridors affecting property values. We also used it to explain which areas benefit from improved connectivity. |
| DFDL Legal | DFDL is a well-known regional law firm specializing in Southeast Asian property law. | We used it to translate legal text into practical buying guidance. We also used it to flag common pitfalls like ground-floor restrictions. |
| BNG Legal | BNG Legal is an established Cambodian firm providing structured property guidance. | We used it to verify practical ownership routes for foreigners. We also used it to reinforce warnings about nominee arrangements. |
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