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Yes, the analysis of Sihanoukville's property market is included in our pack
Sihanoukville's property market is showing signs of stabilization after years of volatility.
With median residential prices around $152,600 and rental yields ranging from 8-12%, the coastal city presents both opportunities and risks for investors. While prices remain 30-40% below pre-COVID peaks, select neighborhoods near beaches and casinos are experiencing modest growth of 3-7% in recent months.
If you want to go deeper, you can check our pack of documents related to the real estate market in Cambodia, based on reliable facts and data, not opinions or rumors.
Property prices in Sihanoukville are stabilizing with coastal areas leading recovery, while rental yields remain attractive at 8-12% for well-located condos.
Government infrastructure projects and China's long-term investment plans position the city for future growth, though oversupply and legal risks require careful consideration.
| Property Type | Price Range | Rental Yield |
|---|---|---|
| Coastal Prime Condos | $2,500-$4,500/sqm | 8-12% |
| Serendipity Beach Units | $2,200-$3,000/sqm | 8-12% |
| Downtown Properties | $200-$1,500/sqm | 6-9% |
| Ream District Land | $150-$500/sqm | 5-8% |
| Houses (Various Areas) | $125,000-$650,000 | 7-10% |
| Commercial Land | $1,600-$3,000/sqm | 10-15% |
What are current property prices in Sihanoukville across different neighborhoods and property types?
Property prices in Sihanoukville vary significantly based on location and property type, with coastal areas commanding premium rates.
Coastal prime areas including Sangkats 3 & 4, Ochheuteal Beach, and Otres Beach range from $2,500 to $4,500 per square meter. Serendipity Beach properties typically cost between $2,200 and $3,000 per square meter, while downtown and inland areas are priced much lower at $200 to $1,500 per square meter.
For specific property types, condos show clear pricing patterns with 1-bedroom units averaging $155,000 and 3-bedroom units around $253,650. Beachfront condo units typically start around $150,000. Houses across the city range from $125,000 to $650,000 depending on size and location.
The Ream District, positioned for future growth, offers the most affordable land prices at $150 to $500 per square meter. Commercial land commands higher prices, ranging from $1,600 to $3,000 per square meter depending on proximity to business districts and development zones.
As of September 2025, the median residential price across all property types sits at approximately $152,600.
How have prices changed in the past three years, and what's the short-term trend over the last six months?
Sihanoukville property prices remain 30-40% below their pre-COVID peaks from 2019, reflecting the significant market correction the city experienced.
The three-year trend shows a gradual stabilization after a severe downturn. Prices hit their lowest point in 2022 before beginning a slow recovery in 2023. The market has moved from panic selling to cautious optimism as infrastructure projects advance and investor confidence returns.
The last six months of 2025 have shown encouraging signs with select prime neighborhoods experiencing modest growth of 3-7%. Areas near casinos and beachfront properties have led this recovery, driven by renewed tourism and increased investor interest in quality assets.
Transaction volumes have increased by 15-20% year-over-year, indicating growing market activity. This uptick reflects both local buyers seeking opportunities at current price levels and foreign investors returning to the market after years of absence.
The short-term trend suggests continued stabilization rather than dramatic price movements, with quality properties in prime locations showing the strongest performance.
What are the medium-term forecasts for property values over the next three to five years?
Medium-term forecasts for Sihanoukville property values indicate a gradual recovery with steady appreciation expected from 2026 onward.
The next three to five years will likely see flat or modest gains initially due to continued oversupply issues, but infrastructure project completions should drive more substantial growth starting in 2026. Condo trends specifically point to 6-8% yearly growth in prime locations as urbanization and economic expansion support market recovery.
Key factors supporting medium-term growth include the government's master plan to transform Sihanoukville into an industrial, logistics, and tourism hub by 2038. Major infrastructure improvements like port expansion, Special Economic Zone (SEZ) development, and transportation upgrades will create new demand drivers.
The forecast assumes continued Chinese investment and successful completion of planned projects. Properties in coastal prime areas and those near new infrastructure developments are expected to outperform the broader market during this period.
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What are the long-term prospects for the city given Cambodia's overall economic and infrastructure development?
Long-term prospects for Sihanoukville are strongly positive, driven by Cambodia's strategic development plans and significant infrastructure investments.
The government's master plan targets Sihanoukville as a major industrial, logistics, and tourism hub by 2038, with GDP expected to rise from $1.6 billion to $13.6 billion. This represents an almost 8.5x increase that would fundamentally transform the city's economic base and property demand dynamics.
Critical infrastructure developments include port expansion to handle 2.5 million TEU, SEZ growth targeting 300 enterprises, improved road networks, and airport modernization. These projects will create thousands of jobs and attract both domestic and international residents.
China's long-term investment commitments include a planned oil terminal, refinery, and potential naval base, which will significantly influence property values and demand patterns. The Chinese presence also ensures continued development funding and political stability for major projects.
Cambodia's overall economic growth, young population, and increasing urbanization trends support long-term property appreciation in developed coastal cities like Sihanoukville.
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How does rental demand currently look by area and property type, and what are the average rental yields?
Rental demand in Sihanoukville is strong for well-located properties, with 1-bedroom and 2-bedroom condos and apartments in central and beach areas showing highest demand.
Prime coastal areas and properties near casinos experience consistent rental demand from both tourists and business travelers. Families typically prefer houses while group rentals favor larger condos and villas. Properties near new SEZs and major industries also see good long-term rental demand from workers.
Average rental yields range from 8-12% for well-located condos, which compares favorably to many other Southeast Asian markets. Two-bedroom condos typically rent for $700-$1,000 per month, depending on location and amenities.
Rental demand varies significantly by area, with beachfront properties and those in Sangkats 3 & 4 commanding premium rates. Downtown properties face more competition but still achieve reasonable yields for appropriately priced units.
The rental market benefits from both tourism recovery and increased business activity from infrastructure development and SEZ expansion.
What is the occupancy rate for short-term rentals compared to long-term rentals?
Short-term rental occupancy rates in Sihanoukville average 19-21% across all properties, with top-performing properties achieving over 64% occupancy.
| Rental Type | Average Occupancy | Peak Season |
|---|---|---|
| Short-term Rentals (All) | 19-21% | March (High) |
| Premium STR Properties | 64%+ | December-April |
| Beachfront STR | 25-35% | March-April |
| Long-term Rentals | 70-85% | Year-round |
| SEZ Area Long-term | 85-90% | Year-round |
Short-term rentals experience significant seasonal variation, with March representing the peak month and May typically showing the lowest occupancy. The tourism recovery has been gradual but steady, supporting improved STR performance.
Long-term rentals generally achieve higher occupancy rates, especially for properties near new SEZs and major industrial developments. These properties benefit from consistent demand from workers and businesses involved in ongoing development projects.
The choice between short-term and long-term rental strategies depends on property location, target market, and owner involvement preferences.
Which neighborhoods are expected to grow the fastest, and which ones are stagnating or declining?
The fastest-growing neighborhoods in Sihanoukville are concentrated in coastal prime areas and zones benefiting from new infrastructure development.
Growing neighborhoods include Sangkats 3 & 4, Ochheuteal Beach, Otres Beach, and Serendipity Beach, all benefiting from tourism recovery and beachfront premium. The SEZ zone and Ream District represent future growth areas due to planned industrial and infrastructure development.
Sangkats 3 & 4 particularly benefit from proximity to both beaches and business districts, making them attractive for both residential and investment purposes. Otres Beach has emerged as a premium destination with upscale developments and international restaurant scenes.
Stagnating or declining areas include downtown and inland neighborhoods with high concentrations of abandoned developments and oversupply issues. These areas face challenges from incomplete projects and limited new investment interest.
The Ream District, while currently underdeveloped, represents the strongest long-term growth potential due to planned port expansion and new industrial developments. Early investors in this area may benefit from significant appreciation as projects materialize.
What are the key differences in performance between condos, houses, commercial units, and land plots?
Different property types in Sihanoukville show distinct performance characteristics based on market dynamics and ownership regulations.
Condos offer the most stable investment option with higher rental yields and accessibility for foreign buyers. They typically provide 8-12% returns and have shown more price stability during market downturns. Condos also offer easier management for absentee owners and lower maintenance requirements.
Houses require more complex ownership structures for foreigners, involving local nominee arrangements that increase legal risks. However, houses can offer better long-term appreciation potential and appeal to families seeking more space. House prices tend to be more volatile than condos.
Commercial units show strong performance near SEZ areas and major business districts, with shop-houses historically experiencing significant volatility. Commercial properties benefit from business development but require higher capital investments and more active management.
Land plots offer the widest price ranges and highest risk-reward ratios. Prime coastal land commands premium prices while inland plots may offer development potential. Land investments require careful due diligence regarding titles and development restrictions.
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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.
What government or infrastructure projects are underway that could impact property values in the short, medium, and long term?
Multiple government and infrastructure projects are underway that will significantly impact Sihanoukville property values across different timeframes.
The government has launched comprehensive investment programs to address 362+ abandoned buildings through completion funding and regulatory improvements. This initiative directly addresses oversupply concerns and should stabilize property values in the short term.
Major infrastructure upgrades include Sihanoukville Port expansion, SEZ development, new expressway construction, and urban renewal projects. These developments will improve connectivity, create jobs, and attract new residents and businesses over the medium term.
Long-term projects include Chinese-funded developments such as an oil refinery, petroleum terminal, and potential naval base facilities. These strategic investments will fundamentally alter the city's economic profile and create sustained demand for housing and commercial properties.
Airport modernization and improved road connections to Phnom Penh will enhance accessibility and support tourism recovery. The completion of these transportation improvements should boost property values in tourist-oriented areas.
What budget ranges make sense for different use cases like living, renting out, or reselling?
Budget requirements for Sihanoukville properties vary significantly based on intended use and target returns.
For personal living, rental budgets range from $150 per month for basic accommodations to $1,500 per month for luxury apartments or houses in prime locations. Purchase budgets for primary residence should focus on $150,000-$400,000 range for quality condos or houses in desirable areas.
Investment properties for rental income work best in the $40,000-$300,000 range, focusing on well-located condos that can achieve 8-12% yields. Beachfront units and properties near entertainment districts command premium rents and justify higher purchase prices.
For resale strategies, buyers should target undervalued assets in premium coastal zones or emerging areas like Ream District. Properties requiring renovation or those in temporarily depressed markets may offer the best appreciation potential.
Commercial investments typically require higher capital commitments starting around $100,000 for small shop-houses and reaching several million dollars for prime commercial land or large retail spaces.
Where are the current opportunities for buyers who want quick returns versus those looking for stable, long-term growth?
Current opportunities in Sihanoukville are clearly segmented between quick return strategies and long-term growth investments.
Quick return opportunities include renovation of undervalued condos, boutique apartments near casinos and beaches, and properties in SEZ zones benefiting from immediate industrial development. These strategies can generate returns within 1-3 years through improved rental income or quick resale.
1. **Undervalued beachfront condos requiring cosmetic renovation**2. **Properties near new casino developments with immediate rental demand**3. **SEZ-adjacent rentals targeting industrial workers**4. **Distressed sales from motivated sellers in prime locations**5. **Short-term rental conversions in tourist areas**Long-term growth investments focus on land or condos in Ream District, select units in new infrastructure zones, and premium beach areas positioned to benefit from sustained tourism growth. These investments may require 5-10 years to achieve full potential.
The most successful investors typically combine both strategies, using quick return properties to fund longer-term positions in emerging growth areas.
It's something we develop in our Cambodia property pack.
What are the main risks right now—legal, regulatory, oversupply, or otherwise—that buyers should factor into their decision?
Several significant risks require careful consideration for property buyers in Sihanoukville as of September 2025.
Legal risks include unclear land titles, foreign ownership restrictions for houses and land, complex nominee structures, and elevated fraud risk especially for off-plan and resale transactions. Cambodia's property law can be challenging for foreign investors to navigate without expert legal guidance.
Regulatory improvements are underway with new 2024-25 regulations, but enforcement and transparency remain uneven across different agencies and jurisdictions. Project delays and incomplete construction continue to pose risks for buyers of new developments.
Oversupply remains a major concern with over 400 abandoned buildings and numerous unfinished projects, particularly in inland areas. This oversupply continues to pressure prices and rental rates in affected neighborhoods.
Additional risks include market volatility due to economic uncertainty, episodic organized crime activity that can affect investor confidence, and environmental risks in specific coastal zones. Political changes affecting Chinese investment flows could also impact future development funding.
Buyers should conduct thorough due diligence, work with experienced local professionals, and maintain realistic expectations about market recovery timelines.
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.
Sihanoukville's property market presents both compelling opportunities and notable risks that require careful navigation.
Success in this market depends on choosing the right locations, understanding legal requirements, and maintaining appropriate risk management strategies for your investment timeline and goals.
Sources
- Sihanoukville Price Forecasts - BambooRoutes
- Sihanoukville Real Estate Market Analysis
- AirROI Sihanoukville Report
- Sihanoukville Property Investment Guide
- AirROI Preah Sihanouk Analysis
- Sihanoukville House Listings - RealEstate.com.kh
- Fazwaz Cambodia Property Listings
- Cambodia Condo Market Trends
- Sihanoukville Investment Program
- Bangkok Post - Sihanoukville Chinese Investment Analysis