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Phnom Penh's condo market offers some of the most affordable prices in Southeast Asia while delivering strong rental yields between 6-8%.
As of September 2025, the average condo price sits at $1,800 per square meter, with luxury units in BKK1 reaching $3,000 per square meter and budget options in outer districts starting from $1,200 per square meter. The market has rebounded 5-10% over the past year following infrastructure improvements and the upcoming Techo Airport opening.
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Phnom Penh condos average $1,800 per square meter city-wide, ranging from $1,200 in budget areas to $3,000 in premium neighborhoods like BKK1.
Total purchase costs including fees range from $60,000-$100,000 for budget units to $250,000-$500,000+ for luxury properties, with strong rental yields of 6-8% making it attractive for investors.
| Category | Price Range (per sqm) | Total Unit Cost |
|---|---|---|
| Budget Condos | $1,000-$1,400 | $60,000-$100,000 |
| Mid-range Condos | $1,450-$2,200 | $110,000-$180,000 |
| Luxury Condos | $2,500-$3,500 | $185,000-$500,000+ |
| BKK1 Premium | $2,650-$3,000 | $250,000-$500,000+ |
| Russian Market | $1,200-$1,452 | $60,000-$120,000 |
| Chroy Changvar | $1,700-$2,000 | $100,000-$180,000 |
| Toul Kork | $1,450 | $90,000-$150,000 |
What's the current average price of a condo in Phnom Penh?
As of September 2025, the average price per square meter for condos in Phnom Penh is $1,800 city-wide.
Entry-level new condos in peripheral locations start from $1,500 per square meter, while prime neighborhoods like BKK1 and Tonle Bassac reach $3,000 per square meter. The price range spans from $1,200 per square meter in budget areas like Russian Market to $3,500 per square meter for luxury developments in central districts.
Most buyers can expect to pay between $1,450-$2,200 per square meter for mid-range condos with decent amenities and locations. The market has stabilized after rebounding 5-10% in 2024-2025 following the COVID-19 downturn when prices had declined up to 30% between 2019-2023.
For comparison, this makes Phnom Penh significantly cheaper than Bangkok ($3,000-$6,000 per sqm), Ho Chi Minh City ($2,500-$5,000 per sqm), or Manila ($3,000-$4,000 per sqm).
It's something we develop in our Cambodia property pack.
How do condo prices vary depending on the neighborhood?
| Neighborhood | Price per sqm (USD) | Characteristics |
|---|---|---|
| BKK1 | $2,650-$3,000 | Expat hub, embassies, premium amenities |
| Tonle Bassac | $2,500 | Upscale, river views, luxury new projects |
| Chroy Changvar | $1,700-$2,000 | Riverside, growing area, infrastructure development |
| Toul Kork | $1,450 | Family-friendly, mid-range, near CBD |
| Russian Market | $1,200-$1,452 | Budget/lifestyle, vibrant local-foreigner scene |
| Chbar Ampov | $1,600 | Affordable, rapid development |
| Citywide Average | $1,800 | Market benchmark |
What's the difference in price between luxury condos, mid-range condos, and budget condos?
Budget condos range from $1,000-$1,400 per square meter with total prices of $60,000-$100,000 for units between 25-70 square meters.
Mid-range condos cost $1,450-$2,200 per square meter, translating to $110,000-$180,000 for units typically sized 50-90 square meters. These properties offer better amenities, modern fixtures, and are often located in more desirable areas with good access to infrastructure.
Luxury condos command $2,500-$3,500 per square meter, with total prices starting at $185,000 and reaching $500,000+ for premium units. These developments feature 100+ square meter units, smart home technology, concierge services, high-end finishes, and prime locations in central districts.
The main differentiators are location (central vs peripheral), unit size, amenities (gym, pool, security), and finishing quality. Central city locations, larger unit sizes, and premium amenities push properties into luxury brackets, while outer areas offer budget options suitable for first-time buyers or investors seeking higher rental yields.
How much does price usually change depending on the condo's size and surface area?
Phnom Penh condo prices are quoted per square meter, so the total cost scales directly with unit size.
Studio and 1-bedroom units (25-50 sqm) typically cost $60,000-$100,000 total. These smaller units face more competition in both rental and resale markets but offer lower entry costs for investors and first-time buyers.
2-bedroom units (50-90 sqm) range from $110,000-$180,000 and represent the sweet spot for both personal living and rental investment. These units attract families, professionals, and expats, making them easier to rent and resell.
3-bedroom and luxury penthouse units (100+ sqm) cost $185,000-$500,000+ and are in high demand for central locations. Larger units in premium areas command premium pricing due to limited supply and strong demand from affluent buyers and long-term renters.
The per-square-meter price generally decreases slightly for larger units within the same development, but prime locations maintain consistent pricing regardless of size.
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What is the typical total purchase cost once you include fees, taxes, and registration costs?
Beyond the purchase price of $90,000-$250,000 for most units (luxury $250,000-$500,000+), buyers face several additional costs.
Legal and notary fees typically range from $1,000-$2,000 for standard transactions. First-time buyers benefit from stamp duty exemption on properties up to $210,000 as part of 2025 government incentives, otherwise stamp duty is 4% of the property value.
Annual property tax applies at 0.1% of government-assessed value for properties exceeding $25,000. Monthly maintenance fees cost $1-$1.50 per square meter, translating to $60-$100 monthly for average units.
Agent commissions for resale properties range from 1-3% of the purchase price. Buyers should budget an additional $5,000-$10,000 above the purchase price for setup, registration, insurance, and initial costs.
Total ownership costs beyond purchase price typically add 5-8% to the initial investment, making a $150,000 condo cost approximately $158,000-$162,000 all-in for the first year.
How does getting a mortgage affect the total cost of buying a condo in Phnom Penh?
Foreigners face mortgage interest rates of 7-10% annually and must provide 30-40% down payment with evidence of international income.
Loan terms are limited to maximum 20 years for foreign buyers, significantly shorter than typical 30-year mortgages in Western markets. Cambodian citizens enjoy more competitive rates of 4-8% annually with better terms and lower down payment requirements.
Developer financing sometimes offers lower or zero initial interest rates but comes with shorter repayment terms and higher total costs. The high interest rates for foreigners make cash purchases more financially attractive, especially given the strong rental yields of 6-8% that can justify leverage costs.
For a $150,000 condo with 35% down payment ($52,500) and 8% interest rate over 15 years, monthly payments would be approximately $930, totaling $167,400 in payments plus the down payment for a total cost of $219,900 versus $150,000 cash.
It's something we develop in our Cambodia property pack.
Can you give me some concrete examples of recent purchase prices for condos?
| Project | Starting Price | Price per sqm |
|---|---|---|
| Le Condé BKK1 | $150,000 | $2,424 |
| La Vista One | $95,000 | $1,452 |
| Urban Village 2 | $90,000 | $1,400-$1,500 |
| Diamond Bay | $185,000 | $2,500 |
| Recent 1BR Resale | $90,000-$120,000 | $1,600-$2,000 |
| Studio Units | $60,000-$85,000 | $1,500-$2,200 |
| 3BR Luxury | $250,000-$400,000 | $2,500-$3,200 |
Which neighborhoods are considered the most expensive, which ones are more up-and-coming, and which ones are still budget-friendly?
The most expensive neighborhoods are BKK1 and Tonle Bassac, commanding $2,500-$3,000 per square meter due to their status as expat hubs with luxury amenities, embassy proximity, and premium river views.
Up-and-coming areas include Chroy Changvar, Toul Kork, and Chbar Ampov, priced at $1,450-$2,000 per square meter. These neighborhoods benefit from infrastructure development, family-friendly environments, and growing expat communities while maintaining more affordable entry points.
Budget-friendly options center around Russian Market and outer districts, offering $1,200-$1,452 per square meter. Despite lower prices, these areas maintain good rental yields and attract diverse communities of locals and foreigners seeking lifestyle-focused living.
Chroy Changvar stands out as the most promising up-and-coming area due to riverside location, infrastructure improvements, and proximity to the new Techo Airport opening in July 2025. Toul Kork appeals to families and professionals seeking mid-range options near the CBD.
The Russian Market area offers the best value for lifestyle-focused buyers and investors seeking strong rental yields from the vibrant local-foreigner community.
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.
If I want to live in a condo, what are the smartest choices today compared to buying for rental or for reselling later?
For personal living, BKK1, Tonle Bassac, and Chroy Changvar offer the best combination of amenities, expat access, and quality of life.
Short-term rental investments perform best in BKK1 and Russian Market areas due to proximity to tourist attractions, business hubs, and transportation links. These areas command higher nightly rates and maintain consistent occupancy from business travelers and tourists.
Long-term rental investments should target Toul Kork, Chroy Changvar, and Chbar Ampov, which attract families, professionals, and expats seeking stable housing. These neighborhoods offer strong rental yields with lower vacancy rates and longer tenancy periods.
For resale and capital appreciation, focus on the airport corridor, Chroy Changvar, and Russey Keo areas benefiting from infrastructure-driven growth. The Techo Airport opening in July 2025 is a major catalyst for these areas, with improved connectivity driving long-term value appreciation.
The smartest strategy combines strong rental yields (6-8% gross) with capital appreciation potential, making mid-range properties in up-and-coming areas like Chroy Changvar the optimal choice for most investors.
How have condo prices changed over the past 5 years and over the past year?
From 2019-2023, Phnom Penh condo prices remained largely flat or declined up to 30% due to oversupply conditions and COVID-19 market disruption.
The market reached its lowest point in 2021-2022 when travel restrictions and economic uncertainty significantly reduced demand from both local and international buyers. Many developments faced construction delays and pricing pressures during this period.
In 2024-2025, prices rebounded 5-10% as the market recovered, particularly in high-end and mid-range segments. This recovery was driven by infrastructure improvements, increased foreign investment, and anticipation of the new Techo Airport opening.
Rental yields remained strong throughout the downturn at 6-8% gross (3-5% net after costs), providing income stability for investors even during price declines. The recent price recovery has restored confidence without eliminating the yield advantage that makes Phnom Penh attractive.
As of September 2025, the market shows stable growth momentum with balanced supply and demand, suggesting the volatile period of 2019-2023 has concluded.
What's the forecast for condo prices in the next 1 year, 5 years, and 10 years?
For late 2025, prime area prices are projected to reach $2,650-$3,000 per square meter, representing continued modest growth from current levels.
The 5-year forecast through 2030 anticipates approximately 40% price appreciation, with top districts reaching $3,000+ per square meter. This growth will be driven by infrastructure completion, increased connectivity, and Cambodia's economic development.
Over 10 years to 2035, expect steady moderate growth with improved connectivity driving more significant price appreciation in peripheral districts. Areas currently priced at $1,200-$1,600 per square meter may reach $2,000-$2,500 per square meter as infrastructure expands.
Rental yields are expected to remain appealing at 5-7% but may soften gradually as capital values rise and the market matures. The Techo Airport opening and associated infrastructure development will be key catalysts for sustained growth through 2030.
It's something we develop in our Cambodia property pack.
How do Phnom Penh condo prices compare to similar big cities in the region?
| 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% |
| Jakarta | $2,200-$3,800 | 5-7% |
| Yangon | $1,500-$2,800 | 6-9% |
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 represents one of Southeast Asia's most affordable condo markets while offering superior rental yields compared to regional capitals.
With prices averaging $1,800 per square meter and infrastructure improvements driving growth, the market presents compelling opportunities for both personal living and investment purposes.
Sources
- BambooRoutes - Condo Prices Phnom Penh
- IPS Cambodia - Phnom Penh Condo Market Trends 2025
- CBRE Cambodia - Real Estate Law 2025 Guide
- DaBest Properties - Cambodia Property Tax Incentives 2025
- BambooRoutes - Cambodia Buy Property
- Global Property Guide - Cambodia Price History
- The Wandering Investor - Phnom Penh Real Estate Guide
- BambooRoutes - Phnom Penh Price Forecasts