Is right now a good time to buy a property in Phnom Penh? (2026)

Authored by the expert who managed and guided the team behind the Cambodia Property Pack

Get all the data you need about the real estate market in Phnom Penh

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Phnom Penh. If you’d like to learn more about us, you can check our presentation page.

Is it smart to buy now in Phnom Penh, or should I wait as of 2026?

Do real estate prices look too high in Phnom Penh as of 2026?

As of 2026, residential property prices in Phnom Penh look corrected rather than broadly overpriced, with many condos about 5% to 15% below boom-era expectations, but some prime villas and luxury condo units still too expensive for the rental income they can realistically produce.

This fits what buyers see on the ground, because many Phnom Penh condo listings now come with price cuts, long payment plans, low down payments, or developer incentives rather than firm seller pricing.

The second useful signal is that the cheapest new condo launches in Phnom Penh are now much more practical and income-aligned, which means developers are no longer pricing only for speculative foreign buyers.

You can also read our latest update regarding the housing prices in Phnom Penh.

Does a property price drop look likely in Phnom Penh as of 2026?

As of 2026, the likelihood of another meaningful property price decline in Phnom Penh is medium, especially for high-end condos, investor-owned resale units, and projects with many similar unsold apartments.

Over the next 12 months, a realistic range is roughly 3% to 7% down for weak condo stock, flat to 3% down for good central units, and 2% down to 3% up for stronger landed housing corridors.

The biggest macro risk for Phnom Penh property prices is tighter credit, because weaker lending makes it harder for local families and small investors to buy condos, borey houses, shophouses, and villas.

This risk is real but not catastrophic, because the World Bank, ADB, and IMF still expect Cambodia to grow in 2026, even though they also warn that construction, real estate, and household income are under pressure.

Finally, please note that we cover the price trends for next year in our pack about the property market in Phnom Penh.

Could property prices jump again in Phnom Penh as of 2026?

As of 2026, the likelihood of a renewed broad price surge in Phnom Penh within the next 12 months is low, because supply is still heavy and buyers are still cautious.

The most realistic upside is a 3% to 6% rise in selected practical segments, while a citywide 10% jump in Phnom Penh residential property prices looks unlikely in 2026.

The biggest demand-side trigger would be a return of investor confidence, especially if bank credit becomes easier and foreign buyers come back to completed, rentable condo stock.

Please also note that we regularly publish and update real estate price forecasts for Phnom Penh here.

Are we in a buyer or a seller market in Phnom Penh as of 2026?

As of 2026, Phnom Penh is a buyer-leaning residential market, especially for condos, high-end resale units, and projects where developers still have unsold inventory.

The closest practical months-of-inventory estimate is about 18 to 30 months in weaker condo segments and 12 to 24 months in stronger landed housing corridors, which normally gives buyers room to negotiate.

There is no official citywide price-reduction share, but our working proxy suggests that many negotiable condo listings allow 5% to 12% discounts and weak high-end resales can need more than 15% to clear.

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.

Are homes overpriced, or fairly priced in Phnom Penh as of 2026?

Are homes overpriced versus rents or versus incomes in Phnom Penh as of 2026?

As of 2026, Phnom Penh homes look fair to slightly cheap versus rents in practical condo segments, but still stretched versus local incomes in many formal condos, borey houses, villas, and shophouses.

The simple price-to-rent signal is mixed, because a gross rental yield of 5% to 8% implies a rough price-to-rent ratio of about 12 to 20 years, which is acceptable only if vacancy and fees stay under control.

The income signal is weaker, because many decent Phnom Penh condos still cost several years of average local household income, so the safest demand comes from renters, professionals, expats, and higher-income Cambodian buyers.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Phnom Penh.

Are home prices above the long-term average in Phnom Penh as of 2026?

As of 2026, Phnom Penh condo prices are below the speculative trend seen during the boom, while prime landed homes remain closer to their long-term high because land still carries value.

The recent 12-month signal is negative for the wider residential index, with Phnom Penh RPPI still falling in early 2026, which is very different from the fast price growth seen before the market cooled.

After inflation, Phnom Penh residential prices look even softer, so the real price position is below the prior cycle peak for many condos even if some sellers still ask boom-era prices.

What local changes could move prices in Phnom Penh as of 2026?

Are big infrastructure projects coming to Phnom Penh as of 2026?

As of 2026, Techo International Airport is the biggest infrastructure factor for Phnom Penh property prices, and its strongest effect should be in southern corridors such as Meanchey, Dangkao, Chbar Ampov, Kandal-border areas, and airport-link locations.

The key delivery step has already happened because Techo International Airport opened in September 2025, so the 2026 impact is less about construction hype and more about which neighborhoods gain jobs, roads, hotels, logistics, and commuter demand.

For the latest updates on the local projects, you can read our property market analysis about Phnom Penh here.

Are zoning or building rules changing in Phnom Penh as of 2026?

There is no clear single zoning shock in Phnom Penh in 2026 that suddenly makes residential land scarce or creates a rapid citywide price jump.

As of 2026, the net effect of rules and development behavior is more market discipline than scarcity, because developers are delaying weaker projects and shifting toward smaller, more affordable homes.

The most affected areas are high-supply districts such as Chamkarmon, Sen Sok, Chroy Changvar, Meanchey, Toul Kork, and Boeung Keng Kang, where buyers should check future supply before paying a premium.

Are foreign-buyer or mortgage rules changing in Phnom Penh as of 2026?

As of 2026, foreign-buyer rules in Phnom Penh look broadly stable, while mortgage and credit conditions matter more for prices because local buyers depend heavily on bank or developer financing.

The most likely foreign-buyer issue is not a new ban, but stricter due diligence, title checks, quota checks, and enforcement around what foreign buyers can legally own in co-owned buildings.

The most likely mortgage issue is cautious lending rather than a simple rule change, because banks and developers are still dealing with real estate stress, weak absorption, and slower construction activity.

You can also read our latest update about mortgage and interest rates in Cambodia.

Will it be easy to find tenants in Phnom Penh as of 2026?

Is the renter pool growing faster than new supply in Phnom Penh as of 2026?

As of 2026, the renter pool in the best Phnom Penh neighborhoods is growing, but citywide new condo supply is still large enough to keep tenants selective.

The best renter-demand signal is the continued role of Phnom Penh as Cambodia’s job, embassy, NGO, school, tourism, and business center, which supports BKK1, Tonle Bassac, Daun Penh, Toul Kork, and Toul Tom Poung.

The supply signal is less friendly for owners, because Phnom Penh had more than 63,000 condo units by late 2025 and still had additional completions and unsold stock competing for tenants.

Are days-on-market for rentals falling in Phnom Penh as of 2026?

As of 2026, rental days-on-market in Phnom Penh are probably falling only for well-priced, well-managed units, with good central 1 bedroom rentals often taking about 30 to 60 days to lease.

The difference by location is large, because a strong unit in BKK1, Tonle Bassac, Daun Penh, Toul Kork, or Toul Tom Poung may lease in 1 to 2 months, while overpriced or poorly managed units can sit for 4 months or more.

When rental time falls in Phnom Penh, it is usually because the unit offers the right mix of price, building management, parking, security, walkability, and access to schools or offices.

Are vacancies dropping in the best areas of Phnom Penh as of 2026?

As of 2026, vacancies are probably dropping in the best practical rental areas of Phnom Penh, especially BKK1, Tonle Bassac, Daun Penh, Toul Kork, Toul Tom Poung, Boeung Trabek, and selected Chroy Changvar projects.

A realistic proxy is 8% to 15% effective vacancy for good mid-market rental condos in the best areas, compared with 20% to 35% for weak luxury units, poor layouts, or oversupplied locations.

The practical sign is that tenants in the best Phnom Penh areas negotiate less on clean, furnished, well-managed units, while still pushing hard on tired units with poor lifts, weak parking, or bad building management.

By the way, we’ve written a blog article detailing what are the current rent levels in Phnom Penh.

Am I buying into a tightening market in Phnom Penh as of 2026?

Is for-sale inventory shrinking in Phnom Penh as of 2026?

As of 2026, for-sale inventory in Phnom Penh is not clearly shrinking in condos, and we would describe it as high but more disciplined than during the speculative launch years.

The closest months-of-supply proxy is roughly 18 to 30 months for weaker condo stock and 12 to 24 months for better landed corridors, which is above a balanced market and gives buyers leverage.

Are homes selling faster in Phnom Penh as of 2026?

As of 2026, Phnom Penh homes are not selling fast by healthy-market standards, with realistic median selling time often around 90 to 120 days for normal residential listings.

Compared with the boom period, selling time is clearly longer, and versus 2025 it looks more stable than sharply improving, with prime well-priced stock moving faster than generic stock.

Are new listings slowing down in Phnom Penh as of 2026?

As of 2026, new developer launches in Phnom Penh are slowing and becoming more selective, but we are not confident that resale listings are falling enough to call the market tight.

The seasonal pattern is not as transparent as in more mature markets, but developer activity now looks more cautious, with fewer speculative high-end launches and more focus on affordable or core product.

The clearest reason new launches are slowing is developer caution, because weak sales rates, construction pressure, and cautious credit make large speculative projects harder to justify.

Is new construction failing to keep up in Phnom Penh as of 2026?

As of 2026, new construction is not failing to keep up in Phnom Penh condos, because the bigger problem is too much past supply rather than too little new housing.

The recent trend is that condo completions continued in 2025, while developers became more selective with new launches and landed housing additions slowed compared with the size of the existing market.

The biggest bottleneck is financing, because weak sales, slower credit, and high existing inventory make it harder for developers to launch large new projects with confidence.

Will it be easy to sell later in Phnom Penh as of 2026?

Is resale liquidity strong enough in Phnom Penh as of 2026?

As of 2026, resale liquidity in Phnom Penh is moderate for good assets and weak for generic assets, so owners should not assume a quick exit unless the property is clearly better than nearby alternatives.

A realistic resale benchmark is 90 to 120 days for normal homes, 3 to 6 months for well-priced central condos, and 12 months or more for overpriced high-end units.

The property characteristic that most improves resale liquidity in Phnom Penh is practical usability, meaning a clean title, completed building, good management, livable layout, parking, and location near real renter or family demand.

Is selling time getting longer in Phnom Penh as of 2026?

As of 2026, selling time in Phnom Penh is longer than during the boom years, but it looks closer to slow stabilization than a sudden new deterioration.

The current median resale time is about 90 to 120 days, with a realistic range from about 75 days for sharp-priced BKK1 or Tonle Bassac units to 150 days or more for overpriced or weak-location listings.

The main reason selling time can lengthen in Phnom Penh is the gap between sellers who still expect old boom prices and buyers who compare every property with developer discounts and flexible payment plans.

Is it realistic to exit with profit in Phnom Penh as of 2026?

As of 2026, the likelihood of selling a Phnom Penh property with a profit is medium over a normal long holding period, but low for short flips bought without a discount.

The minimum holding period that makes profit more realistic is usually 5 to 7 years, especially if rent covers part of the ownership cost while the market slowly recovers.

A simple round-trip cost drag is roughly 7% to 10% of the purchase price, so on a US$100,000 home that means about US$7,000 to US$10,000, or about KHR 28 million to KHR 40 million, or about EUR 6,500 to EUR 9,300.

The clearest way to improve profit odds in Phnom Penh is to buy below comparable completed stock in a high-demand area such as BKK1, Tonle Bassac, Toul Kork, Toul Tom Poung, Daun Penh, Sen Sok, or Chroy Changvar.

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 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 Phnom Penh, 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 we trust it	How we used it
National Bank of Cambodia	Cambodia’s central bank is the main authority for monetary and RPPI data.	We used it as the anchor for Phnom Penh residential price direction. We treated it as stronger than listing-site asking prices.
Global Property Guide Cambodia price history	It structures Cambodia housing price data in a clear and comparable way.	We used it to cross-check the early 2026 RPPI decline. We did not use it alone for final price conclusions.
Knight Frank Cambodia Real Estate Highlights H2 2025	Knight Frank publishes detailed Phnom Penh supply, price, and absorption data.	We used it for condo supply, landed supply, new launches, and sales rates. We relied on it heavily for district-level market pressure.
Knight Frank Cambodia Real Estate Highlights H1 2025	It gives granular residential data before the H2 2025 update.	We used it to compare the first and second halves of 2025. We used it to see whether the market was improving or still weakening.
CBRE Cambodia Phnom Penh Mid-Year Review summary	CBRE is a major property consultancy active in Phnom Penh.	We used it to cross-check Knight Frank’s view of weak condo demand. We also used it for the difference between luxury and mid-market demand.
B2B Cambodia summary of CBRE Mid-Year Review 2025	It reports CBRE market figures in a readable way.	We used it to triangulate condo launches, high-end pricing, and leasing activity. We treated it as a secondary source, not the base source.
World Bank Cambodia Economic Update, June 2026	The World Bank is a top macro source for Cambodia.	We used it to judge whether property weakness is backed by broader economic stress. We also used it for growth, credit, and income risk.
Asian Development Bank Cambodia 2026 outlook	ADB gives Cambodia-specific regional forecasts.	We used it to cross-check growth assumptions for 2026. We used it to test whether rents and end-user demand can keep growing.
IMF Cambodia 2025 Article IV	The IMF is authoritative on credit, banking, and macro risks.	We used it to assess real estate stress and credit risk. We used it especially for the risk of a slow grind rather than a quick rebound.
U.S. International Trade Administration construction guide	It is a government source on infrastructure and construction conditions.	We used it for infrastructure and construction context. We linked those projects to southern and suburban Phnom Penh demand.
U.S. International Trade Administration tourism guide	It reports official tourism and airport context.	We used it to confirm Techo International Airport timing. We then assessed which Phnom Penh areas may benefit most.
Cambodia foreign ownership law	This is the legal text governing foreign ownership in co-owned buildings.	We used it to explain what foreign buyers can legally own. We separated strata condos from landed property restrictions.
Open Development Cambodia law record	It is a recognized Cambodia legal-data repository.	We used it as a cross-check for the foreign-ownership law. We avoided relying on private blogs for legal conclusions.
Global Property Guide Cambodia rental yields	It gives a transparent yield framework for buyers.	We used it to estimate gross rent-to-price value. We then adjusted for vacancy, management, and local district quality.
Knight Frank Phnom Penh apartment rents	Knight Frank publishes practical rent ranges by Phnom Penh area.	We used it to ground rent assumptions in real neighborhood ranges. We used it as a rental cross-check, not a price-index source.