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Siem Reap's property market is experiencing a significant rebound as of September 2025, driven by the new international airport, tourism recovery, and substantial infrastructure improvements. Property prices have risen 8-10% year-over-year, with condos averaging $1,900-$2,800 per square meter and land plots costing $110-$165 per square meter.
Central districts near Riverside, Wat Bo, and Sala Kamreuk are seeing the strongest growth, offering rental yields of 7-8% for condos and up to 10% for well-located villas. While foreigners can purchase condos through strata title, land ownership requires setting up a Cambodian company or securing long-term leases, making legal compliance crucial for international buyers.
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.
Siem Reap's property market offers compelling opportunities with 7-10% rental yields and 8-10% annual price appreciation as of September 2025.
Central locations near tourism districts provide the best investment returns, while foreigners must navigate ownership restrictions and 4% transaction costs.
| Property Type | Average Price | Rental Yield | Best For |
|---|---|---|---|
| Condos | $1,900-$2,800 per sqm | 7-8% | Foreign investors, tourism rentals |
| Villas | $89,000-$950,000 | 6-10% | Expat living, luxury vacation rentals |
| Land Plots | $110-$165 per sqm | N/A | Development projects, long-term holding |
| Commercial | $220,000-$1,500,000 | 8-12% | Business operations, tourism-related ventures |
| Shophouses | $80,000-$300,000 | 8-12% | Mixed-use investments, tourism districts |
What's the average price per square meter in Siem Reap right now?
As of September 2025, the Siem Reap property market shows clear price differentiation across property types.
Residential condos average $1,900-$2,800 per square meter, with the citywide apartment average at $834 per square meter. Villas range dramatically from $89,000 for modest properties to over $950,000 for high-end, fully furnished options, though specific per-square-meter rates for villas aren't standardized in the market.
Commercial properties span $220,000-$1,500,000, with median units in central tourism districts costing around $694,000. Most commercial listings average 388 square meters, suggesting per-square-meter rates align with or exceed condo prices for prime locations.
Land plots are priced at $110-$165 per square meter in 2025, representing an 8-10% year-over-year increase. Prime plots near the city center command higher rates, while outlying areas offer more affordable entry points.
These prices position Siem Reap as significantly more affordable than Phnom Penh or coastal Sihanoukville, making it attractive for both investors and lifestyle buyers seeking value.
How have property prices changed over the past five years?
Siem Reap property prices experienced a turbulent but ultimately positive trajectory over the past five years.
The market stagnated during the pandemic years (2020-2022), with limited transaction activity and price declines in some segments. However, since 2023, prices have rebounded sharply, driven by the new international airport opening, tourism revival, and substantial infrastructure upgrades including improved roads, drainage systems, and public services.
The 2024-2025 period showed particularly strong growth, with 8-10% price increases across most property segments. Luxury villas led the recovery with 15-20% annual gains, while condos achieved more moderate 8% growth over the past year.
Short-term outlook for the next 1-2 years remains positive, with continued price momentum expected as international tourist arrivals recover and expat demand stays strong. Quality villa and strata-titled condo markets face the greatest upward pressure.
Medium-term projections for 3-5 years suggest robust but moderating growth, especially for central and quality projects. The ongoing infrastructure development and airport-related commerce provide a solid foundation, though potential oversupply concerns exist without corresponding demand growth.
Which neighborhoods are seeing the fastest price growth?
Central Siem Reap districts are significantly outperforming outlying areas in terms of price appreciation.
The fastest growth areas include Riverside, Wat Bo, and Sala Kamreuk, particularly properties near the new business and tourist corridors. Proximity to Angkor Wat and major tourism landmarks creates clear value drivers for both rental income and resale potential.
Properties within walking distance of popular restaurants, international hotels, and cultural sites are experiencing premium price growth, with some areas seeing 15-20% annual appreciation for well-located assets.
Conversely, outlying districts beyond the primary ring roads show slower price gains. Areas farther from tourism infrastructure, especially those with older Khmer-style housing and limited expat appeal, are experiencing minimal growth or stagnation.
The new airport corridor is emerging as a growth area, though development there is still in early stages compared to established central districts.
What rental yields can you expect in different areas?
Siem Reap rental yields generally outperform other Cambodian cities, making it attractive for income-focused investors.
| Property Type | Rental Yield Range | Location Premium | Peak Season Boost |
|---|---|---|---|
| City Center Condos | 7-8% | Central districts +1-2% | Tourism areas +2-3% |
| Luxury Villas | 6-10% | Near Angkor Wat +2-4% | Vacation rentals +3-5% |
| Tourist Shophouses | 8-12% | Prime tourism streets +3-4% | Festival periods +4-6% |
| Commercial Assets | 8-12% | Business districts +2-3% | Tourism season +2-4% |
| Mid-Range Apartments | 5-7% | Expat areas +1-2% | Limited seasonal impact |
Quality, well-located projects with proven short-stay appeal can achieve higher returns within these ranges. Properties catering to vacation rentals typically outperform long-term rental investments, especially during peak tourism seasons.
How strong is demand for short-term versus long-term rentals?
The Siem Reap rental market shows distinct patterns between tourist and resident demand segments.
Short-term tourist rentals demonstrate strong and intensifying demand, driven by rising international arrivals and the new airport's capacity expansion. Tourist-oriented condos, villas, and Airbnb-style units achieve 85%+ occupancy rates during peak seasons, with some properties maintaining 70%+ occupancy year-round.
Long-term rental demand remains moderate but increasing, primarily from expats, NGO staff, and regional remote workers. These tenants typically prefer mid to high-end homes and villas with modern amenities, reliable utilities, and proximity to international schools or business districts.
Local rental demand focuses on affordable housing and land for development, but provides less impact on investment yields for foreign property owners. Cambodian renters generally seek lower-priced options that don't align with foreign investment property profiles.
The tourism rental segment offers higher yields but requires more active management, while expat long-term rentals provide steady income with lower turnover and management requirements.
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What are the transaction costs and legal restrictions for foreigners?
Foreign property buyers in Siem Reap face specific legal frameworks and cost structures that require careful navigation.
Transaction costs combine several components: stamp duty at 4% of assessed value, agent fees up to 3%, legal and registration fees, and minor transfer costs. Total transaction expenses typically range 7-10% of purchase price.
Foreign ownership rules allow strata-titled condos above ground floor but prohibit direct land ownership. Foreigners cannot own ground-floor units or landed property outright. Land acquisition typically requires establishing a Cambodian company structure or securing long-term leases of 50+ years.
Rental income taxation applies at 10-14% on net income for expat property owners. Most property transfers invoke the 4% transfer tax regardless of buyer nationality.
Legal compliance remains crucial, with diligent legal assistance essential for navigating ownership structures, due diligence, and registration processes. Changing government policies may affect development rights or investment terms over time.
Banking relationships and proper documentation significantly impact transaction timelines and success rates for foreign buyers.
How easy is it to resell property in Siem Reap?
Property resale dynamics in Siem Reap vary significantly based on location, property type, and target buyer segment.
New, centrally located condos and prime villas sell quickly, often within a few months, especially units in sought-after developments like Rose Apple Square and Angkor Grace. Quality properties in tourism districts maintain strong liquidity with multiple interested buyers.
Secondhand local-style houses and rural land face longer marketing periods, typically remaining listed for 6-12+ months. Properties outside central districts or without clear expat/tourist appeal experience thinner buyer interest.
Resale market liquidity remains good for high-demand, centrally-located properties but becomes challenging for outlying areas or traditional Khmer housing styles. Foreign buyers typically focus on modern, Western-standard properties with clear legal title.
Market timing affects resale success, with peak tourism seasons providing better buyer activity for vacation rental properties. Properties with established rental histories and proven income streams sell faster than vacant units.
Professional marketing, proper legal documentation, and realistic pricing significantly impact resale timelines and success rates in the current market.
What property types are selling fastest right now?
The Siem Reap market shows clear preferences for specific property types and budget ranges as of September 2025.
Condos in quality developments, particularly Rose Apple Square and Angkor Grace, see rapid absorption with $50,000-$200,000 units attracting both foreign and local buyers. These properties offer legal ownership certainty and modern amenities appealing to international investors.
Luxury Western-style villas priced $200,000-$950,000 generate high interest, especially among expats and affluent Cambodians seeking premium lifestyle properties. Properties with swimming pools, modern kitchens, and security systems sell particularly quickly.
Shophouses and commercial lots in key tourist arteries move fast, typically budgeted at $80,000-$300,000 for business-ready inventory. Ground-floor retail spaces with upper-level residential components appeal to both investors and owner-operators.
Affordable centrally located land lots priced at $110-$165 per square meter see quick sales, while larger rural or agricultural plots trade more slowly. Development-ready land with utilities and road access commands premium interest.
Properties offering immediate rental income potential or turnkey vacation rental setups consistently outperform vacant or renovation-required options.
How much upfront capital do you need to enter the market?
Entry capital requirements in Siem Reap vary significantly across property segments and buyer profiles.
Minimum down payments typically require 30-50% of purchase price for foreign buyers, with most local banks demanding at least 30% equity. Cash purchases remain common due to limited foreign financing options.
Entry-level condos require $50,000-$100,000 upfront capital, making them accessible to middle-class international investors. Prime villas or quality commercial assets demand $100,000-$800,000 upfront investment, limiting participation to affluent buyers.
Foreign financing options exist through select banks including Maybank and Bank of China, offering up to 70% loan-to-value ratios. Interest rates range 7-12% with 10-20 year terms, though documentation requirements are strict and approval processes lengthy.
Developer payment plans provide alternative financing, allowing buyers to spread payments over construction periods. These arrangements typically require 10-30% initial deposits with structured milestone payments.
Additional costs including legal fees, due diligence, renovation, and furnishing should be budgeted at 15-25% above purchase price for turnkey investment properties.
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What are the main risks in the Siem Reap property market?
Siem Reap property investment carries several risk categories that potential buyers should carefully evaluate.
Regulatory risks remain significant since foreigners cannot directly own land, making compliance with ownership structures critical. Changing government policies may affect development rights, investment terms, or taxation over time. Political stability and policy continuity impact long-term investment security.
Infrastructure challenges exist outside central Siem Reap, where power, water, and road access remain variable. While the main city benefits from rapid upgrades, outlying areas may experience service interruptions or development delays affecting property values.
Market oversupply risks are emerging, particularly for "cookie-cutter" budget villas or fringe land developments. If tourism demand softens or new supply exceeds absorption capacity, certain segments could face pricing pressure.
Currency and economic risks include Cambodia's dollarized economy dependence and regional economic volatility. Tourism dependency creates income volatility for rental properties during global economic downturns or travel restrictions.
Legal and title risks require careful due diligence, proper legal representation, and thorough documentation review. Unclear land titles or improper ownership structures can create significant problems for foreign investors.
What areas offer the best mix for living comfort and value?
For lifestyle-focused buyers prioritizing comfort, convenience, and future appreciation, specific Siem Reap districts offer optimal combinations.
Riverside, Wat Bo, and Sala Kamreuk provide the best overall value proposition for residential living. These areas offer walkability to restaurants, shops, and cultural sites, plus access to international schools and healthcare facilities. Property budgets of $120,000-$300,000 for houses and $1,900-$2,800 per square meter for condos provide good options.
These central districts combine tourism convenience with residential amenities, creating strong rental potential if needed while offering quality daily living environments. Infrastructure is reliable with consistent utilities, internet connectivity, and waste management services.
Premium lifestyle options exist in exclusive compounds and luxury villas near main roads with temple access, typically requiring $200,000-$950,000 budgets. These properties offer privacy, security, and high-end amenities but may have higher maintenance costs.
Areas near international schools appeal to expat families, while properties close to business districts suit working professionals. Proximity to medical facilities and grocery stores adds practical value for full-time residents.
Properties with established expat communities provide social networks and support systems valuable for international residents transitioning to Cambodian living.
Where should investment buyers position themselves for maximum returns?
Strategic investment positioning in Siem Reap requires understanding both current rental demand and long-term appreciation potential.
Maximum rental income opportunities exist in vacation rental-ready condos and high-traffic shophouse real estate within the main tourist zone. Properties within walking distance of Pub Street, Old Market, and major hotels consistently achieve premium rental rates and high occupancy.
Best resale appreciation potential lies in well-located villas and prime land in expanding districts with infrastructure improvements. Areas near the new airport corridor and developing commercial zones offer growth potential, though require longer investment horizons.
Mixed-use properties combining residential and retail components provide diversification across market cycles. Well-managed units with proven expat and NGO appeal offer stability during tourism fluctuations.
Partnership opportunities with reputable developers allow access to prime locations and new commercial corridors before public availability. Lock-in central locations near infrastructure improvements for maximum appreciation potential.
Properties with established management companies and rental histories provide immediate income while building long-term value. Focus on assets that appeal to both tourist and expat rental markets for maximum flexibility.
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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 opportunities for both investors and lifestyle buyers as of September 2025, with 7-10% rental yields and strong price appreciation in central locations.
Success requires focusing on legally compliant ownership structures, proven property types in tourism-adjacent districts, and understanding the distinct dynamics between tourist rental and expat residential demand segments.
Sources
- IPS Cambodia - Siem Reap Market Trends 2025
- IPS Cambodia - Siem Reap Condo Market Trends
- BambooRoutes - Siem Reap Price Forecasts
- BambooRoutes - Siem Reap Property Guide
- Dabest Properties - Average Condo Prices
- Global Property Guide - Cambodia Price History
- Global Property Guide - Cambodia Rental Yields
- BambooRoutes - Cambodia Real Estate for Foreigners