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Siem Reap's property market is experiencing strong growth driven by tourism recovery and infrastructure development.
Property prices have increased 8-10% annually over the past three years, with apartments averaging $834 per square meter in 2025. The market offers attractive rental yields of 6-10% and shows solid growth potential with hundreds of new projects underway.
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Siem Reap property prices have grown 8-10% annually over the past three years, with apartments averaging $834/m² and land at $100-150/m² in 2025.
The market offers rental yields of 6-10% with hundreds of new construction projects underway as part of smart city development initiatives.
| Property Metric | Current Value (2025) | Growth Rate |
|---|---|---|
| Apartment Price per m² | $834 | 8-10% annually |
| Land Price per m² | $100-150 | 8-10% annually |
| Rental Yield (Apartments) | 7.9-8.5% | Stable |
| Foreign Buyer Share | 25-40% (condos) | Rising |
| Mortgage Interest Rates | 8-12% | Stable |
| Central Land Price | $3,000/m² | Strong growth |
| Forecast Growth (2025-2030) | 8-10% annually | Positive outlook |
What has been the average property price per square meter in Siem Reap over the last five years?
Property prices in Siem Reap have shown significant growth over the past five years, particularly following the pandemic recovery period.
As of September 2025, apartments in Siem Reap average around $834 per square meter, while residential land prices typically range from $100 to $150 per square meter. These figures represent substantial increases from pre-pandemic levels, with the most notable growth occurring in 2023-2025.
The five-year trend shows a recovery pattern that began in 2022, accelerating through 2023 and maintaining momentum into 2025. Prime central locations have experienced even steeper price appreciation, with some premium developments seeing values double during this period.
Villa prices vary widely depending on location and amenities, but the overall residential market has benefited from improved infrastructure, the new international airport, and renewed foreign investment interest.
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How much have residential property prices increased or decreased year-on-year in the past three years?
Residential property prices in Siem Reap have experienced consistent annual growth of 8-10% over the past three years (2023-2025).
The strongest price appreciation occurred in the luxury villa segment, which saw growth rates of 15-20% in 2024-2025. Standard residential properties, including apartments and mid-market houses, maintained more moderate but steady growth at the 8-10% range.
This growth pattern reflects the city's recovery from the pandemic downturn and the positive impact of infrastructure development projects. The opening of the new Siem Reap International Airport in late 2023 particularly boosted property values in areas with improved connectivity.
Year-on-year growth has remained remarkably consistent, indicating a stable and sustainable price trajectory rather than speculative bubbles. Most market segments have participated in this growth, though luxury properties have outperformed budget and mid-market segments.
What is the current average rental yield for apartments and houses in the city?
Siem Reap currently offers competitive rental yields ranging from 6% to 10% for residential properties, making it attractive for investment purposes.
Apartments typically generate gross rental yields between 7.9% and 8.5% as of September 2025. Well-positioned units in desirable locations can achieve yields as high as 10%, particularly those catering to the recovering tourism and expat markets.
Houses and villas show similar yield patterns, though performance varies significantly by location and target market. Properties positioned for long-term residential rentals generally outperform those targeting short-term tourist accommodation, which currently show lower net yields around 2% due to occupancy challenges.
These yields compare favorably to other Southeast Asian markets and reflect the balance between reasonable property prices and steady rental demand from both locals and the growing expat community.
How many new construction projects, both residential and commercial, are currently underway in Siem Reap?
Siem Reap is experiencing a construction boom with hundreds of new projects underway as part of comprehensive urban development initiatives.
Since 2020, authorities have approved at least 1,300 projects city-wide, covering both residential and commercial developments. Major infrastructure projects include the 38 Streets Project and comprehensive smart city planning around the new airport area.
The master development plan encompasses significant infrastructure upgrades that are driving private sector construction activity. New residential developments range from affordable housing projects to luxury condominium complexes and villa communities.
Commercial projects include shopping centers, office buildings, and mixed-use developments designed to support the city's growing economy and tourism sector. This construction activity indicates strong developer confidence in Siem Reap's long-term growth prospects.
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What percentage of real estate buyers are foreign investors compared to local buyers?
Foreign investors account for a significant minority of Siem Reap's property market, with participation rates varying by property type and price segment.
In the condominium and premium property segments, foreign buyers represent approximately 25-40% of transactions. This higher participation rate reflects foreigners' legal ability to own up to 70% of co-owned buildings above ground floor level.
Local Cambodians still dominate overall residential transactions, particularly for landed properties where foreign ownership faces legal restrictions. The majority of house and land purchases involve domestic buyers, though foreign interest continues to grow.
Foreign investment interest has been rising steadily, especially in premium projects and developments that cater to international buyers. This trend is supported by relatively favorable ownership laws for foreigners compared to some neighboring countries.
How many properties were sold in the last 12 months compared to the three years before?
Property sales in Siem Reap have rebounded strongly over the past 12 months, nearly matching or surpassing pre-pandemic transaction volumes.
Sales activity has recovered significantly compared to the 2021-2023 period when the market was still recovering from pandemic impacts. Premium developments report being nearly sold out, indicating robust demand in higher-end segments.
The recovery has been driven by renewed tourism confidence, improved infrastructure, and returning investor interest from both domestic and foreign buyers. Transaction volumes have increased across most property categories, though luxury and well-located properties have shown the strongest sales performance.
This sales recovery demonstrates market resilience and growing confidence in Siem Reap's economic prospects, supported by the city's strategic development initiatives and improving connectivity.
What are the current occupancy rates for hotels, serviced apartments, and short-term rentals in the city?
Occupancy rates in Siem Reap's hospitality and short-term rental sectors remain below pre-pandemic levels but are showing steady improvement.
| Property Type | Current Occupancy Rate | Performance Notes |
|---|---|---|
| 3-5 Star Hotels | 15-20% | Gradual recovery underway |
| Serviced Apartments | Up to 30% | Better than hotels |
| Short-term Rentals | 20-30% | Location-dependent |
| Budget Hotels | 10-15% | Slower recovery |
| Luxury Properties | 25-35% | Premium market stronger |
Well-located serviced apartments and short-term rentals are performing somewhat better than traditional hotels, with some properties achieving up to 30% occupancy rates. The recovery pace varies significantly by location, with properties near major attractions and the airport area showing stronger performance.
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How much have tourist arrivals to Siem Reap grown or declined in the past two years, and how does that affect property demand?
Tourism to Siem Reap has rebounded significantly since the pandemic, particularly following the opening of the new international airport, creating positive momentum for property demand.
Tourist arrivals have shown sustained increases over the past two years, with the new airport facility serving as a major catalyst for growth. While exact figures vary by season, the overall trend shows strong recovery from pandemic lows.
This tourism recovery has a direct correlation with property demand across multiple sectors. Each surge in tourist arrivals boosts both commercial property investment and rental demand for serviced apartments and short-term rentals.
The improved tourism outlook has also increased confidence among property developers and investors, contributing to the numerous construction projects currently underway. Long-term tourism growth expectations are supporting higher property valuations throughout the city.
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 are the current mortgage interest rates in Cambodia, and how accessible is bank financing for local and foreign buyers?
Mortgage interest rates in Cambodia currently range from 8-12% per annum, depending on the bank, borrower profile, and specific loan terms.
Local buyers have significantly easier access to financing, with established banks offering competitive rates and terms. Cambodian residents can typically access the lower end of the interest rate range with appropriate income documentation and credit history.
Foreign buyers face more restrictive conditions but can still obtain financing for certain property types, particularly condominiums. Banks offering mortgages to foreigners typically require stricter conditions including lower loan-to-value ratios, proof of international income, and additional documentation.
Financing accessibility has improved somewhat as the banking sector has grown, though foreign buyers should expect higher interest rates and more stringent requirements compared to local purchasers. Many foreign buyers opt for cash purchases or financing from their home countries.
How do land prices in central Siem Reap compare to those in suburban or developing areas around the city?
Land prices in central Siem Reap command significant premiums compared to suburban and developing areas, reflecting the value of prime locations.
| Area Type | Price per m² | Growth Pattern |
|---|---|---|
| Prime Central Downtown | ~$3,000 | Steady high demand |
| Central Commercial/Residential | $600-2,000 | Strong appreciation |
| Suburban Areas | $120-950 | Rapid development |
| Svay Dangkum District | $200-600 | Fastest growth area |
| Ring Road Areas | $150-400 | Infrastructure-driven |
Suburban and developing areas, particularly around Svay Dangkum and the ring roads, are experiencing the fastest growth rates as infrastructure development improves connectivity and accessibility.
The price differential creates opportunities for investors seeking higher growth potential in developing areas, while central locations offer stability and established infrastructure.
What government regulations or policy changes related to foreign ownership or taxation are expected in the next two years?
Several regulatory changes implemented in 2024-2025 have created a more favorable environment for property investment, with additional modifications expected through 2027.
- Stamp duty exemptions for properties below $210,000 have been introduced to stimulate market activity
- New licensing requirements for developers aim to improve market transparency and buyer protection
- Capital gains tax implementation was delayed but is scheduled for September 2025 at a 20% rate
- More flexible co-ownership rules for foreigners have been established, maintaining the 70% foreign ownership limit
- Continued incentives for new developments include tax breaks and streamlined approval processes
The government continues to balance attracting foreign investment with protecting domestic interests, generally maintaining policies favorable to development and foreign participation within established legal frameworks.
What are experts forecasting for annual property price growth in Siem Reap over the next three to five years?
Real estate experts forecast continued strong annual property price growth of 8-10% for Siem Reap over the next three to five years (2025-2030).
This forecast is based on several supporting factors including continued tourism recovery, stable government policy, and ongoing infrastructure investment. The smart city development initiatives and improved connectivity are expected to sustain demand growth.
The projection assumes normal economic conditions and continued political stability in Cambodia. Infrastructure projects, including further airport improvements and road development, are expected to support property values throughout the forecast period.
Different property segments may experience varying growth rates, with luxury and well-located properties potentially outperforming the market average, while budget segments may see more moderate but steady appreciation.
It's something we develop in our Cambodia property pack.
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.
Siem Reap's property market presents compelling investment opportunities with strong fundamentals and growth prospects.
The combination of tourism recovery, infrastructure development, and favorable government policies creates a supportive environment for property investment in this historic city.
Sources
- Siem Reap Price Forecasts - BambooRoutes
- Siem Reap Real Estate Market - BambooRoutes
- Siem Reap Property - BambooRoutes
- The Wandering Investor - Siem Reap Guide
- Construction Property - Siem Reap Development
- New Hope Cambodia - 38 Roads Project
- EmerHub - Foreign Property Buying Guide
- Cambodia Investment Review - 2025 Guide
- IPS Cambodia - Condo Market Trends
- Japan Valuers - Hotel Market Report