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
Phnom Penh's condo market offers some of the highest rental yields in Southeast Asia, but the numbers you see in marketing brochures rarely match what you actually pocket after expenses.
This guide breaks down realistic gross and net yields, actual rent levels by unit size, and the hidden costs that can eat into your returns as a foreign investor.
We constantly update this blog post to reflect the latest market conditions and data available.
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 rental yields can I realistically get from a condo in Phnom Penh?
What's the average gross rental yield for condos in Phnom Penh as of 2026?
As of early 2026, the average gross rental yield for condos in Phnom Penh sits around 6.5% per year, which makes the Cambodian capital one of the better-performing markets in the region for rental returns.
Most condo investments in Phnom Penh fall within a realistic gross yield range of 5% to 8%, though some premium projects in high-demand locations can push toward 8.5% or even higher with the right tenant profile.
The main factor causing Phnom Penh condo yields to vary so much is the massive gap between asking prices in oversupplied luxury towers versus well-located mid-range buildings that actually attract steady tenants, because Cambodia experienced a construction boom that left many high-end projects sitting half-empty while practical units in expat-friendly areas rent quickly.
Compared to other major cities in the region, Phnom Penh gross yields beat Bangkok (3% to 4%), Ho Chi Minh City (4% to 5%), and Manila (4% to 6%), making it attractive for yield-focused investors willing to accept a frontier market.
What's the average net rental yield for condos in Phnom Penh as of 2026?
As of early 2026, the average net rental yield for condos in Phnom Penh lands between 3.8% and 4.5% per year for a typical foreign landlord who uses professional property management.
Most condo investors in Phnom Penh can realistically expect net yields in the 3% to 5% range, with the wide spread depending heavily on how efficiently you manage vacancy periods, maintenance costs, and whether you self-manage or pay someone to handle everything.
The single biggest expense that reduces gross yield to net yield for Phnom Penh condos is the combination of vacancy drag and property management fees, because in a market with roughly 15% average vacancy rates and where overseas owners typically pay 8% to 12% of rent for management services, you can easily lose 2 to 3 percentage points before you even count maintenance and taxes.
By the way, we have much more granular data about rental yields in our property pack about Phnom Penh.
What's the typical rent-to-price ratio for condos in Phnom Penh in 2026?
As of early 2026, the typical rent-to-price ratio for condos in Phnom Penh falls between 0.50% and 0.60% per month, which translates to annual gross yields of roughly 6% to 7%.
Most condo transactions in Phnom Penh see rent-to-price ratios ranging from 0.43% per month on the low end for larger two-bedroom units to 0.62% per month for premium four-bedroom apartments, with one-bedroom condos typically landing around 0.55% monthly.
The condo categories with the highest rent-to-price ratios in Phnom Penh tend to be well-maintained one-bedroom units in secondary but rentable neighborhoods like Chroy Changvar, Toul Kork, and Sen Sok, where purchase prices have softened more than rents due to the oversupply in the luxury segment pulling capital away from mid-market buildings.
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How much rent can I charge for a condo in Phnom Penh?
What's the typical tenant budget range for condos in Phnom Penh right now?
The typical monthly tenant budget for renting a condo in Phnom Penh in early 2026 ranges from $400 to $1,500 (1.6 million to 6.2 million KHR, or €370 to €1,380), which covers the vast majority of active renters in the market.
For entry-level condos in Phnom Penh, tenants typically budget between $350 and $600 per month (1.4 million to 2.5 million KHR, or €320 to €550), which gets them a studio or compact one-bedroom in outer districts or older buildings.
Mid-range condo tenants in Phnom Penh usually spend $600 to $1,200 per month (2.5 million to 4.9 million KHR, or €550 to €1,100), and this is the thickest part of the market where most expats, NGO workers, and corporate local staff are looking.
For high-end or luxury condos in Phnom Penh, tenants budget $1,500 to $4,500 per month (6.2 million to 18.5 million KHR, or €1,380 to €4,150), targeting premium towers in BKK1 or Tonle Bassac with full amenities and river views.
You can also check our latest update about rents in Phnom Penh here.
What's the average monthly rent for a 1-bed condo in Phnom Penh as of 2026?
As of early 2026, the average monthly rent for a 1-bed condo in Phnom Penh is around $550 (2.3 million KHR, or €510), though this varies significantly based on location and building quality.
Entry-level 1-bed condos in Phnom Penh rent for $350 to $450 per month (1.4 million to 1.8 million KHR, or €320 to €415), and these are typically older units in districts like Sen Sok or Meanchey with basic finishes and limited amenities.
Mid-range 1-bed condos in Phnom Penh command $500 to $700 per month (2.1 million to 2.9 million KHR, or €460 to €645), offering modern fixtures, pool and gym access, and locations in popular areas like Tuol Tompoung near Russian Market or the edges of BKK.
Luxury 1-bed condos in Phnom Penh fetch $800 to $1,200 per month (3.3 million to 4.9 million KHR, or €740 to €1,100), featuring high-floor river views, premium finishes, and prime addresses in BKK1 or Tonle Bassac towers like The Peak Residence or J Tower.
What's the average monthly rent for a 2-bed condo in Phnom Penh as of 2026?
As of early 2026, the average monthly rent for a 2-bed condo in Phnom Penh is around $1,000 (4.1 million KHR, or €920), with a wider price spread than 1-beds because size and layout vary dramatically.
Entry-level 2-bed condos in Phnom Penh rent for $650 to $850 per month (2.7 million to 3.5 million KHR, or €600 to €785), typically found in newer affordable developments in Sen Sok or Chroy Changvar where you get more space but less central convenience.
Mid-range 2-bed condos in Phnom Penh go for $900 to $1,300 per month (3.7 million to 5.3 million KHR, or €830 to €1,200), covering well-maintained units in established towers around Toul Kork, Tuol Tompoung, or secondary BKK streets with reliable management.
Luxury 2-bed condos in Phnom Penh command $1,500 to $2,500 per month (6.2 million to 10.3 million KHR, or €1,380 to €2,300), offering premium riverfront locations in Tonle Bassac, full-service buildings, and the kind of finishes that attract embassy staff and multinational executives.
What's the average monthly rent for a 3-bed condo in Phnom Penh as of 2026?
As of early 2026, the average monthly rent for a 3-bed condo in Phnom Penh is around $2,000 (8.2 million KHR, or €1,850), though the tenant pool is narrower so vacancy risk matters more at this size.
Entry-level 3-bed condos in Phnom Penh rent for $1,200 to $1,600 per month (4.9 million to 6.6 million KHR, or €1,100 to €1,475), often in newer suburban developments along Hun Sen Boulevard or in Chroy Changvar where families trade location for space.
Mid-range 3-bed condos in Phnom Penh fetch $1,800 to $2,500 per month (7.4 million to 10.3 million KHR, or €1,660 to €2,300), typically in established buildings around Toul Kork or outer BKK with good schools nearby and reliable building management.
Luxury 3-bed condos in Phnom Penh command $3,000 to $4,500 per month (12.3 million to 18.5 million KHR, or €2,770 to €4,150), featuring river views, premium towers like Diamond Bay Garden in Tonle Bassac, and amenities that attract corporate relocations and diplomatic tenants.
How fast do well-priced condos get rented in Phnom Penh?
A well-priced condo in Phnom Penh typically rents within 2 to 6 weeks, assuming you have decent photos, reasonable asking rent, and use a competent agent or listing platform.
The typical vacancy rate for condos in Phnom Penh sits around 8% to 15% annually depending on the building and location, which means most investor units spend roughly 1 to 2 months empty per year between tenants.
The main factors that cause some Phnom Penh condos to rent faster than others are pricing discipline and building reputation, because in a market where expats can compare dozens of similar units online within minutes, overpriced listings just sit while realistically priced units in buildings with good management and reliable utilities get snapped up quickly.
And if you want to know what should be the right price, check our latest update on how much a condo should cost in Phnom Penh.
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 condo type gives the best yield in Phnom Penh?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed condos in Phnom Penh as of 2026?
As of early 2026, studios and 1-bed condos typically offer the best risk-adjusted rental yield in Phnom Penh because they attract the largest tenant pool and experience the shortest vacancy periods.
The typical gross rental yield by condo type in Phnom Penh breaks down roughly as follows: studios at 6% to 7%, 1-beds at 6.5% to 7.5%, 2-beds at 5% to 6%, and 3-beds at 6% to 7.5%, though the larger units can show higher headline yields when they rent but suffer longer vacancy gaps.
The main reason 1-beds tend to outperform in Phnom Penh is that the city's expat tenant base is dominated by single professionals, young couples, and NGO workers who need functional space but not family-sized apartments, so demand is deepest and most consistent for compact units that hit the $500 to $800 per month sweet spot.
Which amenities are best if you want a good yield for your condo in Phnom Penh?
The amenities that most positively impact rental yield for Phnom Penh condos are reliable air conditioning, consistent water pressure, backup generator power, and 24/7 security, because in a tropical climate with infrastructure gaps, tenants will pay more and stay longer for units where they know these basics actually work.
Mid-to-high floors in Phnom Penh towers typically rent faster and command slight premiums because tenants value views, reduced street noise, and better airflow, though ultra-high floors can narrow your audience if the building has slow elevators or frequent power issues.
Condos with usable balconies in Phnom Penh do rent faster, especially to expats who value outdoor space for morning coffee or evening drinks, but tiny decorative balconies with no view add nothing to rentability.
Building amenities like pools and gyms can help rentability in Phnom Penh, but only if the facilities are actually well-maintained, because many buildings charge high HOA fees for amenities that look great in photos but deteriorate quickly without proper management.
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Which neighborhoods give the best rental demand for condos in Phnom Penh?
Which condo neighborhoods have the highest rental demand in Phnom Penh as of 2026?
As of early 2026, the Phnom Penh neighborhoods with the highest rental demand for condos are BKK1 (Boeng Keng Kang 1), Tonle Bassac, Daun Penh along the riverside, and Tuol Tompoung near Russian Market, all of which benefit from established expat communities and walkable lifestyle amenities.
The main demand driver making these Phnom Penh neighborhoods attractive to condo tenants is proximity to employment centers, embassies, international schools, and the restaurants and cafes where expats actually spend their time, because foreign renters prioritize convenience and community over raw square meters.
Vacancy rates in these high-demand Phnom Penh neighborhoods tend to run 5% to 10% annually with time-to-rent often under 3 weeks for well-priced units, significantly better than the citywide average of 15%.
One emerging neighborhood gaining rental demand momentum in Phnom Penh is 7 Makara, which sits between the central business district and newer development zones, offering lower entry prices while still being walkable to core amenities.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Phnom Penh.
Which condo neighborhoods have the highest yields in Phnom Penh as of 2026?
As of early 2026, the Phnom Penh neighborhoods with the highest condo rental yields are Chroy Changvar, Sen Sok, Toul Kork, and parts of Meanchey, where purchase prices have softened more than rents due to the luxury oversupply pulling capital toward premium districts.
The typical gross rental yield range in these higher-yielding Phnom Penh neighborhoods runs from 6% to 8%, with Chroy Changvar specifically tracking around 5.8% to 6.8% according to published data and individual projects occasionally pushing higher.
The main reason these Phnom Penh neighborhoods offer higher yields than BKK1 or Tonle Bassac is that they have genuine tenant demand drivers like universities, hospitals, family-friendly communities, and airport access, but purchase prices never inflated as much during the boom years because they were not marketed to premium foreign buyers.
We have a whole part covering all the neighborhoods in our pack about buying a property in Phnom Penh.
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.
Should I do long-term rental or short-term rental in Phnom Penh?
Is short-term rental legal for condos in Phnom Penh as of 2026?
As of early 2026, short-term rentals for condos in Phnom Penh exist in a gray area where Airbnb-style stays are clearly happening across the city but formal compliance requires navigating both government tourism licensing and individual building rules.
The main legal requirements for operating a short-term rental condo in Phnom Penh include registering with Cambodia's tourism accommodation licensing system and following any guest registration rules, though enforcement has historically been light and many hosts operate without full paperwork.
There is no reliable percentage of Phnom Penh condo buildings that officially allow short-term rentals in their bylaws, but buildings like The Peak Residence, The Bridge, Urban Village, Vue Aston, and Axis Residence show active Airbnb listings, meaning STR is happening in practice even if official building policies are not publicly documented.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Phnom Penh.
What's the gross yield difference short-term vs long-term in Phnom Penh in 2026?
As of early 2026, short-term rentals in Phnom Penh can generate gross yields 2 to 5 percentage points higher than long-term rentals, but only if you achieve strong occupancy rates and maintain excellent guest reviews.
The typical gross yield range for long-term rentals in Phnom Penh runs around 6% to 7%, while well-managed short-term rentals can achieve 8% to 11% gross in good locations, though the ceiling requires professional hosting and consistent bookings.
The main additional costs that reduce the net yield advantage of short-term rentals in Phnom Penh include cleaning between guests, linens and consumables, higher utilities, platform fees around 3% to 5%, more frequent wear and tear, and the risk of building management cracking down on STR activity.
To outperform a long-term rental in Phnom Penh, a short-term rental typically needs to achieve at least 60% to 70% occupancy at competitive nightly rates, because below that threshold the extra operational costs eat up any premium and you would have been better off with a stable 12-month tenant.
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What costs will destroy my net yield for a condo in Phnom Penh?
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Phnom Penh.
What are condo HOA fees as a % of rent in Phnom Penh as of 2026?
As of early 2026, the typical HOA fee for condos in Phnom Penh runs between 8% and 15% of monthly rent, which translates to roughly $30 to $80 per month (120,000 to 330,000 KHR, or €28 to €74) for a standard 1-bed unit.
The realistic range of HOA fees in Phnom Penh spans from 5% to 25% of rent depending on the building, with fees typically charged at $0.50 to $2.00 per square meter per month, so larger units and premium buildings with extensive facilities pay more.
The amenities and services that justify higher HOA fees in Phnom Penh condos are professional on-site management, 24/7 security with actual guards rather than just cameras, reliable backup generators that keep air conditioning running during outages, and maintained swimming pools, because buildings that skimp on these essentials often have cheaper fees but suffer tenant complaints and higher turnover.
What annual maintenance budget should I assume for a condo in Phnom Penh right now?
The typical annual maintenance budget that condo owners in Phnom Penh should assume is around 5% of annual rent, which works out to roughly $330 to $600 per year (1.4 million to 2.5 million KHR, or €300 to €550) for a standard 1-bed unit generating average rent.
The realistic range of annual maintenance costs in Phnom Penh spans from 3% to 8% of annual rent depending on unit age and condition, with newer units costing less and older or heavily-used units potentially exceeding 10% in years when appliances need replacing.
The most common maintenance expenses Phnom Penh condo owners face annually are air conditioning servicing and repairs due to the tropical climate running AC constantly, water heater issues from hard water deposits, repainting every few years because humidity causes faster wear, and replacing mattresses and soft furnishings if you rent furnished.
What property taxes should I expect for a condo in Phnom Penh as of 2026?
As of early 2026, the typical annual property tax for condos in Phnom Penh is around 0.1% of assessed value above the tax threshold, which for a $100,000 condo works out to roughly $80 to $100 per year (330,000 to 410,000 KHR, or €74 to €92) once you are above the exemption.
The realistic range of property taxes in Phnom Penh runs from $0 for lower-value properties below the threshold to around $200 to $500 per year (820,000 to 2.1 million KHR, or €185 to €460) for premium condos valued above $200,000.
Property taxes in Phnom Penh are calculated using the Tax on Immovable Property (TOIP) system, which applies a 0.1% rate to 80% of the property's assessed market value, but only on the portion exceeding 100 million KHR (roughly $24,000).
There is a property tax exemption for lower-value properties in Phnom Penh, with the first 100 million KHR of assessed value exempt from TOIP, and owner-occupied primary residences may qualify for additional considerations though foreign condo owners typically pay the standard rate.
How much does condo insurance cost in Phnom Penh in 2026?
As of early 2026, the typical annual condo insurance cost in Phnom Penh runs between 0.10% and 0.30% of the insured value, which for a $100,000 condo works out to roughly $100 to $300 per year (410,000 to 1.2 million KHR, or €92 to €275).
The realistic range of annual condo insurance costs in Phnom Penh spans from $50 per year for basic fire coverage on a modest unit to $500 or more per year (205,000 to 2.1 million KHR, or €46 to €460) for comprehensive coverage on a high-value property, depending on sum insured, coverage type, and insurer.
What's the typical property management fee for condos in Phnom Penh as of 2026?
As of early 2026, the typical property management fee for condos in Phnom Penh runs around 8% to 12% of collected rent, which for a $550 per month 1-bed unit means roughly $45 to $65 per month (185,000 to 265,000 KHR, or €42 to €60) going to your manager.
The realistic range of property management fees in Phnom Penh spans from 8% for basic tenant-find and rent collection services to 15% or more for full-service management that handles everything including maintenance coordination, tenant screening, and regular property inspections.
Standard property management services in Phnom Penh typically include finding and vetting tenants, collecting rent and depositing to your account, coordinating basic repairs, handling tenant communications, and managing move-in and move-out processes, with some managers also offering furnished unit setup and periodic property checks for overseas owners.
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 it's authoritative | How we used it |
|---|---|---|
| Global Property Guide | Long-running cross-country housing data publisher with clear yield methodology. | We used it as our anchor dataset for Phnom Penh gross yields and rent-to-price ratios by unit size. We also used their method notes to keep our calculations consistent and verifiable. |
| Knight Frank Cambodia | Global real estate consultancy with formal market research reports. | We used it to ground market context on supply dynamics and pricing direction. We cross-checked neighborhood segmentation against their district framing. |
| CBRE Cambodia | Major global brokerage providing Cambodia-specific tax guidance. | We used it to verify the annual property tax rate (TOIP) and how it's calculated. We triangulated this with other sources for accuracy. |
| IPS Cambodia | Large Cambodia-based agency with practical, locally grounded explanations. | We used it to validate tax calculations and flag that rental income can be taxed. We also relied on their market trend reports for vacancy data. |
| Realestate.com.kh | Cambodia's largest property portal with widely referenced buyer guides. | We used it for realistic condo maintenance fee ranges per square meter. We also used their management and tax guides for cost modeling. |
| Ministry of Tourism Cambodia | Official government source on tourism accommodation regulations. | We used it to confirm that tourism accommodation is regulated under the tourism framework. We paired it with licensing system evidence for STR guidance. |
| Airbnb Phnom Penh | Primary marketplace showing actual short-term rental inventory. | We used it to verify that condo STR listings are active in Phnom Penh. We also identified buildings where short-term stays are happening in practice. |
| Insurance Regulator of Cambodia | National regulator for the insurance market. | We used it to anchor that insurance is a regulated product and to steer readers toward licensed insurers for condo coverage quotes. |
| Cambodia Property Asia | Regional property portal with detailed market analysis. | We used it to supplement yield ranges and market segment data. We cross-referenced their pricing trends against other sources. |
| DaBest Properties | Active Cambodia brokerage with current listing data. | We used it to validate rent ranges and yield estimates by unit type. We also checked their project-specific pricing against our models. |
Buying real estate in Phnom Penh can be risky
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