Authored by the expert who managed and guided the team behind the Cambodia Property Pack
Yes, the analysis of Sihanoukville's property market is included in our pack
Sihanoukville's property market sits at an interesting crossroads in January 2026, with buyer-friendly conditions but real risks from oversupply.
We track the current housing prices in Sihanoukville and constantly update this blog post to reflect new data and market shifts.
This guide covers everything you need to know before making a decision.
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 Sihanoukville.
So, is now a good time?
Rather yes, but only if you buy selectively and negotiate hard in Sihanoukville's current buyer-friendly market.
The strongest signal is that the market remains subdued with low transactions and limited new launches, which gives buyers real leverage to negotiate discounts and better terms.
Another strong signal is that tourism is recovering fast, with Sihanouk International Airport recording over 43,000 international arrivals in the first nine months of 2025, up sharply from 2024.
However, the large shadow supply of stalled condo projects (potentially tripling existing stock by 2029 if they restart) creates real downside risk for prices, while infrastructure upgrades at the airport and port support long-term demand.
The best strategy in Sihanoukville as of the first half of 2026 is to target completed, well-managed properties in prime beach areas like Otres, Serendipity, or Sokha, buy at a clear discount, and plan to hold through the recovery cycle rather than flip quickly.
This is not financial or investment advice, we do not know your personal situation, and you should always do your own research before buying property in Sihanoukville.
Is it smart to buy now in Sihanoukville, or should I wait as of 2026?
Do real estate prices look too high in Sihanoukville as of 2026?
As of early 2026, property prices in Sihanoukville do not appear significantly overheated because the market is described as subdued with low transaction volumes, which is not what you would see in a typical price bubble.
One clear on-the-ground signal is that only one condo project launched in the first half of 2025 and transactions remain weak, which usually means sellers are struggling to find buyers at current asking prices.
Another signal worth watching is that many units sit on the market for extended periods without movement, suggesting that asking prices are ahead of what buyers are willing to pay in Sihanoukville today.
You can also read our latest update regarding the housing prices in Sihanoukville.
Does a property price drop look likely in Sihanoukville as of 2026?
As of early 2026, the likelihood of a meaningful property price decline in Sihanoukville over the next 12 months is medium, particularly for average-quality condos in oversupplied areas.
The plausible price change range in Sihanoukville over the next year is roughly flat to down 10% for standard stock, while prime beachfront properties could hold steady or see modest gains of up to 5%.
The single most important macro factor that could increase the odds of a price drop in Sihanoukville is credit tightening, because the IMF has flagged real estate correction risks and banks may become more cautious with lending.
This credit tightening scenario has a moderate probability of happening in the coming months, as Cambodia continues to work through vulnerabilities in its banking sector and real estate market.
Finally, please note that we cover the price trends for next year in our pack about the property market in Sihanoukville.
Could property prices jump again in Sihanoukville as of 2026?
As of early 2026, the likelihood of a renewed price surge in Sihanoukville within the next 12 months is low to medium, because even strong demand could be absorbed by the large pipeline of stalled projects if they restart.
The plausible upside price change range for Sihanoukville over the next year is around 5% to 15% for prime beachfront properties with scarce attributes, while average stock would likely see much smaller gains.
The single biggest demand-side trigger that could drive prices to jump again in Sihanoukville is a sustained tourism boom combined with supply staying constrained, meaning stalled projects do not all restart at once.
Please also note that we regularly publish and update real estate price forecasts for Sihanoukville here.
Are we in a buyer or a seller market in Sihanoukville as of 2026?
As of early 2026, Sihanoukville leans clearly toward a buyer-friendly market because transaction volumes remain low, new launches are limited, and sellers must compete harder to attract interest.
There is no official months-of-inventory figure published for Sihanoukville, but the combination of 11,742 existing condo units plus thousands of stalled units suggests supply far exceeds current buyer demand, which typically gives buyers strong bargaining power.
While we do not have exact data on price reductions, Knight Frank's description of subdued activity and weak transactions strongly suggests many sellers are willing to negotiate on price, terms, or added incentives like furniture packages.
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.
Are homes overpriced, or fairly priced in Sihanoukville as of 2026?
Are homes overpriced versus rents or versus incomes in Sihanoukville as of 2026?
As of early 2026, homes in Sihanoukville appear moderately stretched versus local incomes, with typical price-to-income ratios around 8 to 12 times annual household earnings, which is not cheap by local standards.
The price-to-rent ratio in Sihanoukville translates to estimated gross rental yields of roughly 4% to 8%, which is okay but not so attractive that it screams bargain, especially once you factor in vacancy, maintenance, and management fees.
The price-to-income multiple in Sihanoukville of 8 to 12 times is above what most affordability benchmarks would consider comfortable (typically 3 to 5 times), though this is common in tourist-driven coastal markets where foreign buyers and investors push prices beyond local income fundamentals.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Sihanoukville.
Are home prices above the long-term average in Sihanoukville as of 2026?
As of early 2026, Sihanoukville prices are not in a new high-growth regime and appear to still be digesting the excesses of the 2018 to 2019 boom, when speculative investment (much of it Chinese-linked) drove a construction frenzy.
The recent 12-month price change in Sihanoukville has been roughly flat to slightly negative for most stock, which is well below the double-digit annual gains seen during the pre-pandemic boom years.
In inflation-adjusted terms, Sihanoukville prices in January 2026 likely sit below their 2019 cycle peak, particularly for condos, because the market has been working through oversupply and reduced foreign investor interest for several years now.
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What local changes could move prices in Sihanoukville as of 2026?
Are big infrastructure projects coming to Sihanoukville as of 2026?
As of early 2026, the biggest infrastructure projects set to impact Sihanoukville property prices are the airport terminal upgrade (operated by Cambodia Airports/VINCI) and the port expansion at Sihanoukville Autonomous Port, both of which support tourism and employment growth.
The airport terminal upgrade is already underway with commissioning activity reported, while the port's new terminal capacity and deeper-water phase are expected around late 2025 to 2026, meaning both projects could start affecting housing demand soon.
For the latest updates on the local projects, you can read our property market analysis about Sihanoukville here.
Are zoning or building rules changing in Sihanoukville as of 2026?
The most important regulatory change being discussed in Sihanoukville is a special incentive program designed to revive stalled development projects, though this is more about restarting existing permits than creating new zoning rules.
As of early 2026, these incentives have not yet produced a broad transaction rebound, so the net effect on prices remains muted for now, but if they succeed in bringing large projects back online, they could actually increase supply pressure and limit price growth.
The areas most affected by these restart incentives would be the clusters around central Sihanoukville and the beach corridors where most stalled condo towers are located, including zones near Serendipity Beach and the city core.
Are foreign-buyer or mortgage rules changing in Sihanoukville as of 2026?
As of early 2026, the core foreign-buyer rules in Sihanoukville remain unchanged, meaning foreigners can still own strata-title condo units under Cambodia's 2010 law but cannot hold freehold title on landed properties like houses or villas.
No major foreign-buyer rule changes (such as new taxes, quotas, or bans) appear to be under active consideration in Sihanoukville, though the government continues to monitor foreign investment flows into real estate.
On the mortgage side, there are no specific new rules being announced, but the IMF has flagged credit quality concerns, which means banks may tighten lending standards informally even without official policy changes.
You can also read our latest update about mortgage and interest rates in Cambodia.
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.
Will it be easy to find tenants in Sihanoukville as of 2026?
Is the renter pool growing faster than new supply in Sihanoukville as of 2026?
As of early 2026, the balance between renter-demand growth and new rental supply in Sihanoukville is mixed, with demand improving from tourism recovery but supply remaining heavy from existing stock and potentially more from restarting projects.
The best demand signal is tourism recovery, with official data showing Sihanouk International Airport recording 43,732 international arrivals in January to September 2025, which represents a significant jump from 2024 and supports short-term rental demand.
On the supply side, Sihanoukville already has 11,742 existing condo units competing for tenants, and this number could balloon if stalled projects restart, meaning rental competition may stay intense in average buildings even as overall demand improves.
Are days-on-market for rentals falling in Sihanoukville as of 2026?
As of early 2026, there is no official days-on-market series for Sihanoukville rentals, but conditions suggest prime well-located rentals are filling faster while average stock continues to sit longer due to heavy supply.
The difference between best areas and weaker areas in Sihanoukville is stark: modern, furnished units near Otres Beach, Serendipity Beach, or Sokha Beach may rent within weeks, while poorly maintained buildings far from beaches can sit vacant for months.
One common reason days-on-market falls in Sihanoukville is seasonal tourism demand, with the November to March high season typically seeing faster absorption for short-term and holiday rentals near the beaches.
Are vacancies dropping in the best areas of Sihanoukville as of 2026?
As of early 2026, vacancy rates in the best-performing rental areas of Sihanoukville, including Otres Beach, Serendipity Beach, Ochheuteal Beach, Sokha Beach, and Victory Hill, are likely tightening as tourism rebounds, though no official vacancy rate is published.
The best areas in Sihanoukville probably have meaningfully lower vacancies than the overall market average, because tourism demand concentrates around beaches and core amenities while many investor-focused towers inland struggle to fill units.
One practical sign for landlords that the best areas are tightening first is when you start seeing multiple inquiries within days of listing and tenants accepting asking rents without negotiation, whereas in weaker areas landlords must still offer discounts or incentives.
By the way, we've written a blog article detailing what are the current rent levels in Sihanoukville.
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Am I buying into a tightening market in Sihanoukville as of 2026?
Is for-sale inventory shrinking in Sihanoukville as of 2026?
As of early 2026, new launch inventory in Sihanoukville is shrinking because developers are cautious, but total available inventory is not necessarily declining since existing stock remains large and stalled projects could restart.
There is no official months-of-supply figure for Sihanoukville, but the combination of 11,742 existing condo units, low transaction volumes, and a potential pipeline of over 31,000 units suggests supply far exceeds a balanced market level of roughly 6 months.
The main reason new launches are slowing is developer caution in response to weak sales, not a shortage of land or permits, which creates a paradox where fewer new projects launch even as plenty of existing units compete for buyers.
Are homes selling faster in Sihanoukville as of 2026?
As of early 2026, homes in Sihanoukville are generally not selling faster across the board because the market remains subdued with low transaction volumes, though prime beachfront properties can move reasonably quickly when priced right.
Year-over-year, the median days-on-market for Sihanoukville has likely remained elevated or even lengthened slightly for average stock, while well-located projects (like one beachfront development Knight Frank highlighted) have sold well due to strong location and competitive pricing.
Are new listings slowing down in Sihanoukville as of 2026?
As of early 2026, new for-sale listings from developers in Sihanoukville have slowed significantly, with only one condo project launching in the first half of 2025, reflecting cautious supply behavior in a weak market.
Sihanoukville's seasonal pattern typically sees more activity in the November to March tourist season, but even accounting for seasonality, the current level of new launches appears unusually low compared to the 2018 to 2019 boom years.
The most plausible reason new listings are slowing in Sihanoukville is that developers and individual sellers are waiting for stronger demand signals before bringing product to market, knowing they would have to discount heavily in current conditions.
Is new construction failing to keep up in Sihanoukville as of 2026?
As of early 2026, new construction in Sihanoukville is actually not failing to keep up with demand; the opposite is true, as the potential supply pipeline far exceeds what the market can absorb if stalled projects restart.
The recent trend shows limited new construction starts because developers recognize the oversupply risk: Knight Frank data indicates existing condo supply of 11,742 units could potentially grow to 31,824 units by 2029 if all planned and stalled projects complete.
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.
Will it be easy to sell later in Sihanoukville as of 2026?
Is resale liquidity strong enough in Sihanoukville as of 2026?
As of early 2026, resale liquidity in Sihanoukville is selective rather than broad, meaning prime beachfront properties in good buildings can sell at realistic prices, but average units in oversupplied areas may sit for extended periods.
There is no official median days-on-market figure, but the subdued transaction environment suggests resale times are well above a "healthy liquidity" benchmark of 30 to 60 days for most stock, with prime properties performing better.
The property characteristic that most improves resale liquidity in Sihanoukville is location near popular beaches (Otres, Serendipity, Sokha) combined with good building management, because buyers consistently prioritize walkability to the beach and reliable amenities.
Is selling time getting longer in Sihanoukville as of 2026?
As of early 2026, selling time in Sihanoukville has likely remained extended compared to the boom years, because the market is still working through oversupply and transactions remain subdued.
The realistic range for days-on-market in Sihanoukville probably spans from a few weeks for competitively priced prime beachfront units to 6 months or more for average condos in oversupplied buildings.
One clear reason selling time can lengthen in Sihanoukville is the looming potential for large additional supply if stalled projects restart, which keeps buyers patient and willing to wait for better deals rather than acting quickly.
Is it realistic to exit with profit in Sihanoukville as of 2026?
As of early 2026, the likelihood of selling with a profit in Sihanoukville is medium, and strongly depends on buying at a discount today and holding through the recovery cycle rather than trying to flip quickly.
A realistic minimum holding period in Sihanoukville for exiting with profit is around 5 to 7 years, which allows time for demand to absorb excess supply and for infrastructure investments (airport, port) to translate into sustained price appreciation.
The total round-trip cost drag in Sihanoukville, including buying costs (stamp duty, legal fees, agent commissions) and selling costs, typically runs around 8% to 12% of the purchase price, or roughly $6,000 to $12,000 USD (approximately 5,500 to 11,000 EUR) on a $100,000 property.
The single clearest factor that increases profit odds in Sihanoukville is buying at a genuine discount in today's buyer market, because the leverage you have now to negotiate 10% to 15% below asking essentially front-loads your profit margin.
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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 Sihanoukville, 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 |
|---|---|---|
| IMF Cambodia 2025 Article IV Consultation | The IMF is the global standard for macroeconomic and financial stability assessments. | We used it to anchor our understanding of Cambodia's growth outlook and real estate correction risks. We also relied on it to frame downside scenarios. |
| IMF Article IV Staff Report PDF | This is the full technical report behind the IMF's published conclusions. | We used it to cross-check the real estate correction narrative with details on credit quality. We also used it to avoid relying on opinion-based commentary. |
| IMF Technical Assistance on Cambodia's RPPI | It describes how Cambodia's central bank builds its official house price index. | We used it to validate that Cambodia has a formal property price methodology. We also used it as a backstop when discussing price fundamentals. |
| National Institute of Statistics Tourism Report (Jan-Sep 2025) | This is an official government statistics release on tourism arrivals. | We used it to quantify tourism momentum including Sihanoukville airport arrivals. We used those numbers as a demand signal for rentals and resales. |
| NIS Cambodia Socio-Economic Survey 2023 | This is Cambodia's flagship household survey used for income and living standards data. | We used it to ground affordability with real household income figures. We then translated those into price-to-income sanity checks for typical homes. |
| ILO Microdata Catalogue HSES 2023 | It is a reputable international catalogue documenting official survey datasets. | We used it to confirm that CSES 2023 is a real, documented statistical instrument. We used it to support our income baseline choice. |
| Knight Frank Cambodia Real Estate Highlights H1 2025 | Knight Frank is a major international real estate research firm with transparent reporting. | We used it for Sihanoukville-specific supply counts, project pipeline risk, and market tone. We also used it to name real projects and quantify potential future supply. |
| Sihanoukville Autonomous Port Annual Report 2024 | PAS is the official operator of Cambodia's main deep-sea port at Sihanoukville. | We used it as an infrastructure and jobs anchor for local housing demand. We also used it to support the logistics hub thesis for long-run demand. |
| PAS Development Plan Page | This is the port authority's own published expansion plan. | We used it to frame how port competitiveness ties to local employment. We used it as a cross-check against private reports on port-led growth. |
| Cambodia Airports (VINCI) Press Release | This is the airport operator's official communication on infrastructure upgrades. | We used it to confirm airport upgrade timing and capacity improvements. We used it as a demand driver for rentals in tourist zones. |
| Phnom Penh Post Airport Coverage | This is a major national newspaper with direct attribution to VINCI statements. | We used it to triangulate the airport upgrade timeline from a second source. We used it to avoid relying on weaker blogs for infrastructure timing. |
| Law on Foreign Ownership of Co-owned Buildings 2010 | This is the core legal text that foreigners rely on for condo ownership rights. | We used it to state clearly what foreigners can and cannot buy in Cambodia. We used it to explain why condos behave differently from landed homes. |
| World Bank Cambodia Country Data | The World Bank is a top-tier source for consistent macro indicators and forecasts. | We used it to triangulate the growth backdrop used in demand scenarios. We used it as a second opinion alongside the IMF on economic direction. |
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.
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