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Phnom Penh's condo market offers significant value compared to other Southeast Asian capitals, with prices ranging from $1,600 to $3,000 per square meter as of mid-2025.
The city features affordable units starting around $90,000, mid-range condos from $110,000 to $180,000, and luxury properties exceeding $185,000. Popular neighborhoods like BKK1 and Tonle Bassac command the highest prices, while areas like Russian Market and outer districts offer more budget-friendly options with strong rental yields of 6-8%.
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Phnom Penh condo prices range from $1,600-$3,000 per sqm, with BKK1 being the most expensive at $2,650-$3,000 per sqm. The market recovered in 2025 with 5-10% price increases after several flat years.
Total condo costs including fees typically range from $95,000-$250,000 for most units, with luxury properties exceeding $500,000. The city offers strong rental yields of 6-8% and remains one of the most affordable capitals in Southeast Asia.
| Neighborhood | Price per sqm (USD) | Target Market |
|---|---|---|
| BKK1 | $2,650-$3,000 | Expats, luxury buyers |
| Tonle Bassac | $2,500 | Upscale, river views |
| Chroy Changvar | $1,700-$2,000 | Riverside, growing area |
| Toul Kork | $1,450 | Families, mid-range |
| Russian Market | $1,200-$1,452 | Budget-conscious, lifestyle |
| Chbar Ampov | $1,600 | Affordable, developing |
What types of condos are available in Phnom Penh and how do their prices differ?
Phnom Penh's condo market offers four main categories with distinct price ranges as of June 2025.
Affordable condos target local buyers and small families with 1-2 bedrooms spanning 30-50 square meters. These units feature basic amenities and start around $1,600 per square meter, with total prices typically below $100,000. Most affordable projects are located in outer districts or emerging neighborhoods.
Mid-end condos cater to middle-class buyers with 2-4 bedrooms covering 50-90 square meters. These properties include better amenities like swimming pools and fitness centers. Prices range from $2,200-$2,500 per square meter, with complete units costing $110,000-$180,000. Popular mid-range areas include Toul Kork and Chbar Ampov.
High-end and luxury condos feature 3+ bedrooms with 100+ square meters in premium locations. These properties offer luxury facilities including smart home features, concierge services, and premium finishes. Prices start at $3,000 per square meter or $185,000+ per unit, with penthouses exceeding $500,000. BKK1 and Tonle Bassac dominate this segment.
Serviced apartments overlap with luxury condos but provide hotel-like services popular among expats and short-term renters.
Which Phnom Penh neighborhoods have the highest, mid-range, and lowest condo prices?
BKK1 (Boeung Keng Kang 1) commands the highest condo prices at $2,650-$3,000 per square meter due to its status as an expat hub with embassies and premium lifestyle amenities.
Tonle Bassac ranks second in the highest price category at $2,500 per square meter, offering upscale living with river views and new developments. Both neighborhoods benefit from strong international demand and established infrastructure.
Mid-range neighborhoods include Chroy Changvar at $1,700-$2,000 per square meter, featuring riverside locations and growing infrastructure. Toul Kork offers family-friendly living at $1,450 per square meter near the CBD, while Chbar Ampov provides affordable options at $1,600 per square meter with rapid development.
The lowest-priced areas include Russian Market (Toul Tom Poung) at $1,200-$1,452 per square meter, which attracts buyers seeking vibrant local-foreigner community living. Outer districts generally offer the most budget-friendly options while maintaining accessibility to central areas.
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How much does buying a condo in Phnom Penh cost including all fees and charges?
Total condo acquisition costs in Phnom Penh extend beyond the purchase price to include various fees and ongoing charges.
Purchase prices range from $90,000-$250,000 for most units, with luxury properties reaching $250,000-$500,000 or more. Legal fees including notary services, registration, and lawyer costs typically total $1,000-$2,000. These fees cover property title verification, contract preparation, and transfer documentation.
Annual property tax applies at 0.1% of government-assessed value for properties valued at $25,000 or above. Monthly maintenance fees range from $1.00-$1.50 per square meter, translating to $60-$100 monthly for a typical 60-70 square meter unit. These fees cover building maintenance, security, and common area upkeep.
Optional insurance costs vary by provider and coverage level. Resale transactions incur agent commissions of 1-3% of sale price plus transfer fees. First-time buyers should budget an additional $5,000-$10,000 beyond the purchase price for all associated costs and initial setup expenses.
What is the price per square meter for condos in different parts of Phnom Penh?
| Area | Price per sqm (USD) | Characteristics |
|---|---|---|
| BKK1 | $2,650-$3,000 | Premium expat area, embassies |
| Tonle Bassac | $2,500 | Upscale riverside, new developments |
| Chroy Changvar | $1,700-$2,000 | Riverside, infrastructure growth |
| Chbar Ampov | $1,600 | Affordable, rapid development |
| Toul Kork | $1,450 | Family-friendly, close to CBD |
| Russian Market | $1,200-$1,452 | Vibrant community, lifestyle hub |
| City Average | $1,800 | Overall market benchmark |
How have condo prices changed in Phnom Penh over the past 5 years and recently?
Phnom Penh's condo market experienced significant volatility over the past five years with a recent recovery trend.
From 2019-2023, prices remained largely flat or declined slightly due to oversupply and COVID-19 impacts on the economy. In 2023, average condo prices fell 2-8% in real terms as the market absorbed excess inventory and faced reduced international buyer demand.
The year 2024 marked the beginning of recovery with modest price increases of 1.7% nominally, though inflation resulted in a 1.3% real decline. Market sentiment improved as international travel resumed and expat populations began returning to the city.
As of mid-2025, prices rebounded strongly with 5-10% year-to-date increases, particularly in high-end and mid-range segments. BKK1 and Tonle Bassac experienced the sharpest price appreciation due to renewed expat demand and limited quality inventory. The recovery reflects improved economic conditions and increased investor confidence in Cambodia's property market.
What are the price forecasts for Phnom Penh condos over the next 1, 5, and 10 years?
Phnom Penh condo price forecasts show continued growth driven by infrastructure development and economic expansion.
By late 2025, prime area prices are projected to reach $2,650-$3,000 per square meter, maintaining current momentum from the first half of the year. The new Techo Airport opening in July 2025 is expected to boost demand in southern and northeastern districts.
The five-year outlook through 2030 projects price increases of approximately 40%, reaching $3,000+ per square meter in top segments. This growth reflects planned infrastructure improvements including new bridges, highways, and urban development projects. Mid-range areas may see more dramatic percentage increases as they catch up to premium locations.
By 2035, moderate continued growth is expected with new infrastructure projects like additional airport connections and expanded public transportation likely boosting outlying districts. Rental yields are expected to remain strong at 6-8% but may moderate as prices rise and the market matures. Geographic price disparities may narrow as infrastructure improvements enhance connectivity across the city.
Can you provide real examples of recent condo sales and listings in Phnom Penh?
Recent condo transactions and listings demonstrate current market conditions across different price segments in Phnom Penh.
Le Condé BKK1 offers units starting from $150,000 at $2,424 per square meter and is nearly sold out, indicating strong demand in the premium segment. La Vista One provides river view units from $95,000 at $1,452 per square meter, attracting mid-range buyers seeking lifestyle amenities.
Urban Village 2 targets community-oriented buyers with units from $90,000 priced at $1,400-$1,500 per square meter. Diamond Bay represents the luxury segment with units starting at $185,000 and $2,500 per square meter, featuring premium finishes and facilities.
Typical resale transactions show 1-bedroom units selling for $90,000-$120,000 in established mid-range projects. These examples reflect current pricing across the market spectrum and demonstrate active buyer interest at various price points. Recent sales velocity has increased compared to 2023-2024, with quality projects selling faster than anticipated.
How do Phnom Penh condo prices compare to other Southeast Asian capital cities?
Phnom Penh remains among the most affordable capital cities for condo purchases in Southeast Asia while offering competitive rental yields.
| City | Price per sqm (USD) | Rental Yield |
|---|---|---|
| Phnom Penh | $1,800-$3,000 | 6-8% |
| Bangkok | $3,000-$6,000 | 4-6% |
| Ho Chi Minh City | $2,500-$5,000 | 5-7% |
| Kuala Lumpur | $2,500-$4,000 | 4-6% |
| Manila | $3,000-$4,000 | 5-7% |
Phnom Penh's affordability advantage extends across all market segments, with even premium areas priced below mid-range options in established capitals. The higher rental yields of 6-8% compared to regional peers make it particularly attractive for investment purposes.
What are the best condo options for living versus rental investment in Phnom Penh?
Optimal condo choices in Phnom Penh vary significantly based on intended use and investment strategy.
For personal residence, BKK1, Tonle Bassac, and Chroy Changvar offer superior lifestyle amenities including international schools, restaurants, and expat communities. These areas provide convenient access to embassies, international businesses, and cultural attractions important for long-term residents.
Short-term rental investments perform best with studio and 1-bedroom units in BKK1, Russian Market, and areas near tourist or business hubs. These properties rent fastest due to demand from business travelers and short-stay visitors. Location near restaurants, nightlife, and transportation links drives occupancy rates.
Long-term rental strategies favor 2-3 bedroom units in Toul Kork, Chroy Changvar, and Chbar Ampov, which attract families and expat professionals seeking more space and value. These areas offer good schools, family amenities, and reasonable commute times to business districts.
Gross rental yields range from 6-8% in top areas, but net yields after management costs, taxes, and maintenance are closer to 3-5%. Investors should factor in vacancy periods and property management expenses when calculating returns.
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Which areas and projects are considered smart investments for rental yield, lifestyle, or capital appreciation?
Smart investment opportunities in Phnom Penh vary by investment objective and risk tolerance.
For rental yield optimization, Russian Market, BKK1, and Toul Kork deliver consistent 6-8% gross returns due to strong tenant demand from locals and expats. Diamond Island also provides solid rental performance with its established infrastructure and riverside location.
Lifestyle-focused investments should target BKK1, Tonle Bassac, and Chroy Changvar for premium amenities, international community presence, and cultural attractions. These areas offer the best quality of life for owner-occupiers and attract high-quality tenants willing to pay premium rents.
Capital appreciation opportunities concentrate in the airport corridor, Chroy Changvar, and Russey Keo due to infrastructure-driven growth potential. The new Techo Airport and improved highway connections are expected to boost property values in these developing areas over the next 5-10 years.
Specific projects worth considering include Le Condé BKK1, La Vista One, Royal Platinum, Urban Village 2, and Time Square 8. These developments offer different value propositions from luxury positioning to community-focused design, allowing investors to match projects with their specific goals and budgets.
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What mortgage and financing options are available for condo buyers in Phnom Penh?
Financing options for Phnom Penh condo purchases include both local banking and developer-provided alternatives.
Local banks offer mortgages with up to 80% financing for qualified borrowers, with loan terms extending up to 30 years. Interest rates typically range from 7-9% for foreign buyers, with lower rates available for Cambodian citizens and permanent residents. Banks require thorough documentation including income verification, employment history, and property appraisals.
Developer financing presents an alternative often available for off-plan projects, sometimes featuring 0% interest for short initial periods. These arrangements may offer more flexible qualification criteria but typically require higher down payments and shorter repayment terms than traditional mortgages.
Foreign buyers can obtain mortgages but face stricter requirements and higher interest rates compared to local buyers. Banks may require larger down payments (30-40%) and proof of international income sources. Some developers accept installment payment plans during construction phases, reducing immediate financing needs.
Buyers should compare multiple financing options and factor in all costs including loan origination fees, insurance requirements, and early payment penalties when evaluating total borrowing costs.
Are there upcoming developments or areas expected to become more popular in Phnom Penh?
Several development trends and infrastructure projects are reshaping Phnom Penh's real estate landscape through 2025 and beyond.
The airport corridor represents the most significant growth driver with the new Techo Airport opening in July 2025 and improved highway connections. This development is driving demand in southern and northeastern districts previously considered peripheral to the main city center.
Russey Keo is emerging as a future hotspot with waterfront projects, new bridge connections, and major infrastructure upgrades making this area attractive for affordable and mid-range condo developments. The area benefits from both riverside location and improved connectivity to central districts.
Chroy Changvar continues its transformation with ongoing riverfront development projects and enhanced transportation links. The area's riverside location combined with growing infrastructure makes it increasingly attractive for both residential and commercial development.
New mixed-use developments are incorporating retail, office, and residential components to create more complete urban environments. These projects aim to reduce commute times and create more sustainable urban communities. Several major international developers have announced plans for large-scale projects in these emerging areas over the next 2-3 years.
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Conclusion
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.
Phnom Penh's condo market in 2025 offers compelling opportunities for both end-users and investors, with prices remaining competitive compared to regional capitals while providing strong rental yields.
The combination of infrastructure development, economic growth, and continued affordability positions Phnom Penh as an attractive destination for property investment in Southeast Asia.
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.
Sources
- Fazwaz Cambodia - Condos for Sale
- IPS Cambodia - Condominiums for Sale
- BambooRoutes - Cambodia Property Guide
- Dabest Properties - New Condo Projects 2025
- Dabest Properties - Cambodia Condo Trends
- BambooRoutes - Phnom Penh Real Estate Market
- RealEstate.com.kh - Cambodia Condominium Report
- Global Property Guide - Cambodia Price History
- ERA Cambodia - Investment Insights 2025
- InvestAsian - Cities with Highest Rental Yields