Authored by the expert who managed and guided the team behind the Cambodia Property Pack
Yes, the analysis of Phnom Penh's property market is included in our pack
This article covers the current property prices in Phnom Penh, where prices have been heading over the past year, and what the market looks like going forward.
We regularly update this blog post so you always have access to the freshest data and analysis available.
Whether you are exploring your options or already serious about making a move, this guide gives you a clear picture of the Phnom Penh residential market in early 2026.
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 Phnom Penh.
What are the current property price trends in Phnom Penh as of 2026?
What is the average house price in Phnom Penh as of 2026?
As of early 2026, the estimated average house price in Phnom Penh is around 630,000,000 Cambodian riel, which works out to roughly US$155,000 or about 145,000 euros.
In terms of price per square meter, residential properties in Phnom Penh average approximately 5,100,000 riel per square meter, or around US$1,250 per square meter (about 1,175 euros per square meter).
With that average in mind, the realistic price range covering the vast majority of property purchases in Phnom Penh in 2026 falls between roughly US$60,000 and US$350,000, depending on the type of property, its location, and the floor area.
How much have property prices increased in Phnom Penh over the past 12 months?
Over the past 12 months from early 2025 to early 2026, residential property prices in Phnom Penh have increased by approximately 1% in nominal terms, which means prices are essentially flat once you account for inflation.
That overall flat picture does hide some variation though: condo prices in Phnom Penh have moved between roughly -2% and 0%, while borey landed housing in well-connected districts has done better, gaining somewhere between +2% and +4% over the same period.
The single most significant factor behind this muted growth is the ongoing correction in the Phnom Penh real estate market, which has kept buyer confidence cautious and shifted bargaining power clearly toward buyers rather than sellers.
Which neighborhoods have the fastest rising property prices in Phnom Penh as of 2026?
As of early 2026, the three Phnom Penh neighborhoods with the fastest rising property prices are Mean Chey, Chbar Ampov, and Sen Sok, all of which are benefiting from strong end-user demand and improving accessibility.
In these districts, annual price growth for borey landed housing is estimated at roughly +3% to +5%, which stands out clearly compared to the citywide average that is closer to flat.
The main driver behind these neighborhoods pulling ahead is a combination of infrastructure improvements, including the new ring road and the opening of Techo International Airport in September 2025, which have made these areas meaningfully easier to reach and live in.
By the way, you will find much more detailed price ranges across neighborhoods in our property pack covering the real estate market in Phnom Penh.
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 property types are increasing faster in value in Phnom Penh as of 2026?
As of early 2026, the property types showing the strongest value appreciation in Phnom Penh are mid-tier borey landed homes such as townhouses and link houses, followed by practical shophouses in dense residential areas, with condos lagging noticeably behind.
In the top-performing category, mid-tier landed homes in family districts of Phnom Penh are appreciating at roughly +2% to +4% per year, driven by real household demand rather than speculative activity.
The main reason landed homes are outperforming condos in Phnom Penh right now is that they match what actual families want to live in, especially when paired with financing flexibility from developers, while the condo segment is dealing with oversupply and heavy incentive competition that holds headline prices down.
Finally, if you're interested in a specific property type, you will find our latest analyses here:
- How much should you pay for an apartment in Phnom Penh?
- How much should you pay for a condo in Phnom Penh?
What is driving property prices up or down in Phnom Penh as of 2026?
As of early 2026, the top three factors shaping property prices in Phnom Penh are continued economic growth supporting household demand, new infrastructure like Techo Airport and Ring Road No. 3 lifting accessibility in outer districts, and ongoing real estate correction dynamics that keep buyer confidence cautious.
Among these, the strongest single upward force is infrastructure delivery: now that Techo International Airport is actually operating and the ring road is progressing, these are not just promises anymore, and properties in the southern and outer corridors of Phnom Penh are beginning to benefit in a more concrete way.
If you want to understand these factors at a deeper level, you can read our latest property market analysis about Phnom Penh here.
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What is the property price forecast for Phnom Penh in 2026?
How much are property prices expected to increase in Phnom Penh in 2026?
As of early 2026, the expected increase in overall residential property prices in Phnom Penh for the full year 2026 is estimated at between +2% and +5%, with the upside belonging to well-located landed housing and the lower end applying to parts of the condo market still working through oversupply.
More broadly, analyst forecasts for Phnom Penh property price growth in 2026 range from roughly flat (around 0%) in cautious scenarios to as high as +6% or +7% in optimistic ones, depending on how quickly confidence recovers and how much infrastructure-linked demand materializes.
The main assumption underlying most of these forecasts is that Cambodia's economy continues to grow at a solid pace in 2026, keeping household incomes and formation rates supportive of property demand even as the market digests the correction of recent years.
We go deeper and try to understand how solid are these forecasts in our pack covering the property market in Phnom Penh.
Which neighborhoods will see the highest price growth in Phnom Penh in 2026?
As of early 2026, the Phnom Penh neighborhoods most likely to see the highest property price growth through the end of 2026 are Mean Chey, Chbar Ampov, Dangkao, and Sen Sok, all of which are positioned at the intersection of growing family demand and improving transport links.
In these leading districts, projected price growth for landed residential properties in Phnom Penh in 2026 sits in the range of roughly +3% to +7%, with the strongest results going to locations that are genuinely close to new road access or the Techo Airport corridor.
The primary catalyst driving expected outperformance in these Phnom Penh neighborhoods is simple: commute times are getting shorter and daily services are improving, which means families who previously would not have considered these areas are now actively buying there.
One emerging Phnom Penh neighborhood that could deliver higher-than-expected growth in 2026 is Prek Pnov, which has a large share of new supply coming to market and stands to benefit disproportionately as infrastructure around it matures.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Phnom Penh.
What property types will appreciate the most in Phnom Penh in 2026?
As of early 2026, mid-tier borey landed homes, particularly townhouses and link houses in outer family districts of Phnom Penh, are expected to appreciate the most through the end of 2026.
This top-performing property type in Phnom Penh is projected to deliver price appreciation of roughly +3% to +7% in 2026, with the stronger results concentrated in districts where infrastructure improvements are most tangible.
The main demand trend driving appreciation for these Phnom Penh landed homes is genuine end-user buying: families purchasing properties to actually live in rather than to flip, which creates more stable and durable price support than speculative demand ever does.
On the other end, certain higher-priced condos in Phnom Penh, particularly in oversupplied corridors where developers are still competing heavily with incentives, are expected to underperform and could see effective prices stay flat or even dip slightly in 2026 as competition keeps headline rates in check.
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.
How will interest rates affect property prices in Phnom Penh in 2026?
As of early 2026, interest rates in Cambodia are having a notably practical effect on Phnom Penh's property market: because borrowing costs remain relatively high and credit access is somewhat constrained, buyers are pushing harder for developer financing, extended payment plans, and lower down payments rather than straight price cuts.
Mortgage rates for residential property purchases in Phnom Penh currently sit in the range of roughly 8% to 12% per year depending on the lender and borrower profile, and the direction of rates in 2026 is expected to remain broadly stable with modest potential for easing if confidence improves.
In practical terms, a 1% increase in mortgage rates in Phnom Penh typically reduces what a buyer can comfortably afford by around 8% to 10%, which in a market where many buyers are already stretching their budgets means developers respond with installment terms rather than letting headline prices fall visibly.
You can also read our latest update about mortgage and interest rates in Cambodia.
What are the biggest risks for property prices in Phnom Penh in 2026?
As of early 2026, the three biggest risks for property prices in Phnom Penh are a deeper-than-expected confidence shock that slows transactions further, mounting oversupply pressure in pockets of the condo market where incentives are already doing a lot of heavy lifting, and external economic shocks such as trade disruptions that could weigh on Cambodian jobs and income.
Of these, the risk with the highest probability of having a visible effect on Phnom Penh property prices in 2026 is continued buyer hesitation rooted in lingering confidence effects from the correction, since this can quietly suppress transaction volumes and make sellers more willing to discount even when they publicly hold firm on asking prices.
We actually cover all these risks and their likelihoods in our pack about the real estate market in Phnom Penh.
Is it a good time to buy a rental property in Phnom Penh in 2026?
As of early 2026, buying a rental property in Phnom Penh makes sense for buyers who approach it like an operator rather than a speculator, meaning the buyer-leaning market conditions give you genuine negotiating power and the ability to enter at fair or below-fair value.
The strongest argument for buying a rental property in Phnom Penh right now is that gross rental yields for well-located residential properties are estimated at roughly 4% to 7%, which is meaningfully attractive in a low-rate deposit environment, especially when entry prices can often be negotiated down or sweetened through developer financing terms.
That said, the strongest argument for waiting is that in segments with heavy condo pipeline, effective vacancy and incentive pressure could suppress net yields for the next 12 to 18 months, so timing your entry to a well-chosen location rather than buying anywhere in Phnom Penh matters more right now than acting quickly.
If you want to know our latest analysis (results may differ from what you just read), you can read our assessment on whether now is a good time to buy a property in Phnom Penh.
You'll also find a dedicated document about this specific question in our pack about real estate in Phnom Penh.
Buying real estate in Phnom Penh 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.
Where will property prices be in 5 years in Phnom Penh?
What is the 5-year property price forecast for Phnom Penh as of 2026?
As of early 2026, Phnom Penh residential property prices are expected to grow by roughly 20% to 35% in cumulative terms over the next five years to 2031, based on a base-case scenario that blends continued economic growth with a gradual recovery in market confidence.
The range of 5-year forecasts for Phnom Penh property prices spans from a conservative scenario of around +5% to +15% cumulative, if shocks persist or the correction drags on, to an optimistic scenario of +40% to +55% cumulative if infrastructure-driven demand takes hold and confidence bounces back faster than expected.
Translating the base case into an annual figure, the average projected appreciation rate for Phnom Penh property over the next five years works out to roughly 3.7% to 6.2% per year, which is meaningful but not spectacular by the standards of fast-developing Southeast Asian markets.
The key assumption that most forecasters rely on for this 5-year view is that urban migration and household formation in Phnom Penh continue at a steady pace, which the official population projections from Cambodia's National Institute of Statistics do support, creating durable underlying demand even when speculative activity is quiet.
Which areas in Phnom Penh will have the best price growth over the next 5 years?
The three areas in Phnom Penh with the best expected property price growth over the next five years are the southern and outer-connected corridors of Mean Chey, Chbar Ampov, and Dangkao, all of which are directly in the path of the city's infrastructure-led expansion.
Over five years, these leading Phnom Penh districts could see cumulative property price growth in the range of +25% to +45%, with the strongest outcomes tied to how quickly the ring road and airport-related activity translates into livable, well-serviced neighborhoods.
This broadly mirrors the shorter 2026 forecast in terms of which districts lead, though the 5-year view gives more weight to areas that currently feel "almost there" in terms of amenities, since another few years of investment can flip a district from secondary to mainstream fairly quickly in Phnom Penh.
Among currently undervalued Phnom Penh neighborhoods, Kamboul and Prek Pnov stand out as the ones with the most potential to surprise on the upside over five years, particularly if the Ring Road No. 3 project delivers on its connectivity objectives and draws more employers and services into the western and northern outer zones.
What property type will give the best return in Phnom Penh over 5 years as of 2026?
As of early 2026, mid-tier borey landed homes, particularly townhouses and link houses in Phnom Penh's family-oriented outer districts, offer the best expected total return over the next five years among common residential property types.
For this top-performing property type in Phnom Penh, the projected 5-year total return combining estimated price appreciation and rental income is roughly 45% to 65% in cumulative terms, assuming disciplined location selection and a realistic rental occupancy rate.
The main structural trend supporting this property type in Phnom Penh over the next five years is the ongoing shift of middle-income families out of congested central districts into outer neighborhoods as road improvements make daily commutes more manageable and borey developments continue offering practical family living at accessible price points.
For buyers who want a bit more security and don't want to chase maximum returns, well-located condos in established Phnom Penh districts like BKK1 or Chamkarmon offer a reasonable balance of steady rental demand, decent liquidity, and moderate appreciation, making them the lower-risk option for a 5-year holding period.
How will new infrastructure projects affect property prices in Phnom Penh over 5 years?
The three major infrastructure projects expected to have the greatest impact on Phnom Penh property prices over the next five years are Techo International Airport (already operational since September 2025), Phnom Penh Ring Road No. 3, and the broader road network upgrades connecting outer districts to the city core.
Properties located near completed infrastructure in Phnom Penh typically command a price premium of roughly 10% to 20% compared to comparable properties without the same accessibility advantage, based on historical patterns observed in similar outer-urban districts of Southeast Asian cities.
The Phnom Penh neighborhoods that will benefit most from these infrastructure developments over five years are Mean Chey, Dangkao, Chbar Ampov, Kamboul, and Prek Pnov, as all of these sit within the direct catchment area of either the airport corridor or the ring road routing.
How will population growth and other factors impact property values in Phnom Penh in 5 years?
Over the next five years, Phnom Penh's population is projected to continue growing through urban migration from rural provinces, and this steady inflow of new residents is expected to sustain underlying housing demand even when investor sentiment is soft.
The demographic shift with the strongest influence on Phnom Penh property demand over the next five years is the rise of young working households, typically in their late 20s and 30s with modest but growing incomes, who are transitioning from renting to buying and are price-sensitive but geographically flexible.
On the migration side, domestic movement from provinces to Phnom Penh remains the dominant force, while international migration, including returning diaspora and some expatriate communities, adds a secondary layer of demand particularly in the serviced apartment and central condo segments of Phnom Penh.
The property types and areas that will benefit most from these demographic trends are mid-tier borey landed homes in accessible outer districts of Phnom Penh, since they are sized and priced for the young family household that makes up the bulk of the city's growing buyer base.
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 is the 10 year property price outlook in Phnom Penh?
What is the 10-year property price prediction for Phnom Penh as of 2026?
As of early 2026, Phnom Penh residential property prices are estimated to grow by roughly 50% to 90% in cumulative terms over the next ten years to 2036, based on a base-case scenario that combines moderate economic diversification, sustained urbanization, and gradual infrastructure compounding.
The range of 10-year forecasts for Phnom Penh spans from a conservative scenario of around +20% to +40% cumulative, if recurring shocks keep risk premiums high, to an optimistic scenario of +100% to +140% cumulative if Cambodia successfully diversifies its economy and Phnom Penh becomes a more prominent regional hub.
Averaged out, the base-case scenario for Phnom Penh property implies an annual appreciation rate of roughly 4% to 6.5% per year over the decade, which is consistent with other developing Southeast Asian capital cities at a similar stage of urban maturity.
The biggest uncertainty factor in any 10-year Phnom Penh property forecast is how much Cambodia is able to broaden and diversify its economic base beyond its current key sectors, since a narrow growth engine creates fragility that can compress real estate values quickly if conditions shift.
What long-term economic factors will shape property prices in Phnom Penh?
Over the next decade, the three long-term economic factors most likely to shape property prices in Phnom Penh are Cambodia's progress in economic diversification, the compounding effect of infrastructure investment on urban accessibility, and steady demographic pressure from urbanization and household formation.
Of these three, the single most positive long-term force for Phnom Penh property values is infrastructure compounding: as each new road, bridge, and hub comes online it makes more of the city livable and commutable, which expands the effective housing market and supports prices in districts that are currently considered secondary.
On the risk side, the greatest structural threat to Phnom Penh property values over the long term is Cambodia's dependence on a narrow set of economic drivers, because if any of those drivers weaken significantly it can reduce job creation, cut household income growth, and in turn remove the demand foundation that keeps property prices moving forward.
You'll also find a much more detailed analysis in our pack about real estate in Phnom Penh.
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 it's reliable | How we used it |
|---|---|---|
| Knight Frank Cambodia Real Estate Highlights H1 2025 | A globally recognized real estate consultancy with published, segmented market research for Cambodia. | We used it to anchor Phnom Penh condo price benchmarks and understand segment-level trends across condos, landed housing, and serviced apartments. It also provided district-level supply and demand signals that informed our neighborhood rankings. |
| World Bank Cambodia Economic Update, December 2025 | A multilateral institution whose country economic updates are a standard reference for macro baselines. | We used it to frame the macro backdrop driving buyer confidence and housing demand in Phnom Penh. It also helped us stress-test our forecast scenarios and justify the buyer-leaning market characterization. |
| IMF Cambodia 2025 Article IV Consultation | The IMF's Article IV is the standard international benchmark for a country's macro and financial stability assessment. | We used it to validate real estate correction risks and financial sector conditions affecting mortgage availability and property pricing. It also kept our forecasts free of overly optimistic assumptions. |
| Asian Development Bank Cambodia Growth Update (September 2025) | A major multilateral development bank whose regional forecasts are a standard reference across Southeast Asia. | We used it to pin down 2026 GDP growth assumptions and to calibrate the demand-side support for housing in our base-case and upside scenarios. It served as our primary economic growth anchor. |
| National Institute of Statistics of Cambodia, CPI Tables | Cambodia's official statistics agency, providing the authoritative national inflation benchmark. | We used it to convert nominal housing price moves into real terms and to avoid overstating price growth when inflation is modest. It ensures our figures reflect genuine purchasing power changes. |
| National Institute of Statistics of Cambodia, Population Projections | Official demographic projections are the most credible way to discuss underlying housing demand over a multi-year horizon. | We used it to support the 5-year and 10-year demand story around urbanization, household formation, and migration into Phnom Penh. It grounds our long-run forecasts in real demographic trends. |
| AP News, Techo International Airport Opening (September 2025) | A major international wire service reporting on a verified, dated infrastructure milestone with confirmed facts. | We used it to connect actual airport delivery to the southern corridor growth story in Phnom Penh. It allowed us to treat the airport's impact as confirmed rather than speculative. |
| Cambodia General Department of Logistics, Ring Road No. 3 Project Page | An official Cambodian government portal describing a specific, funded transport project with stated objectives. | We used it to back the accessibility premium argument for Phnom Penh outer districts and to confirm that road improvements are real and underway. It grounded our neighborhood-level growth calls in verified infrastructure. |
| Phnom Penh Post, Capital Gains Tax Postponement (January 2026) | A leading local English-language newspaper reporting a concrete, dated policy change with official confirmation. | We used it as a policy timing input for near-term transaction sentiment in Phnom Penh and to explain why tax-driven forced selling is less likely in 2026 than some observers assume. |
| Rajah and Tann Asia, Stamp Duty Relief Note | A well-known regional law firm summarizing a specific Ministry of Economy and Finance notification with verifiable reference numbers. | We used it to explain first-time buyer incentives in plain language and to illustrate how policy is supporting transactions at common Phnom Penh price points. It provided precision on who qualifies and at what price cap. |
| Global Property Guide, Cambodia Price History | A widely used international residential property research publisher that cites primary datasets including NBC and CBRE. | We used it as a triangulation layer to cross-check that our Phnom Penh price direction estimates are not wildly inconsistent with broader Cambodia trends. We treated it as confirming evidence rather than a primary source. |
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If you want to go deeper, you can read the following: