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The Kingdom of Cambodia, a country located in Southeast Asia, is bordered by Thailand to the West, Vietnam to the east, and Laos to the north. It is home to the world-famous Angkor Wat, which is one of the remains of the mighty Khmer Empire. Besides the temples of Angkor, Cambodia is starting to get recognized for its colonial townscapes, unspoiled beaches, dense forests, and delicious food. With everything that the country has to offer, it is no wonder that tourism in the country is on the rise, with more people visiting this country each year. In 2019, the country received 6,610,592 international visitors, which is an increase of 6.6% compared to 2018.
Over the past few decades, Cambodia has been experiencing strong economic expansion. With an average growth rate of 8%, the country’s economy is one of the fastest-growing in the world. Due to this, many foreigners not only come to the country for a holiday but also to relocate and make investments. Aside from being an up-and-coming tourism hotspot, Cambodia has now transformed into one of the most sought after destinations for property investors in Southeast Asia as well.
Learn more about the Cambodia condo market through trends and average prices.
Condos in Cambodia are usually found in Phnom Penh and Sihanoukville, but Siem Reap is slowly catching up. Condos typically offer enough space and high-quality furnishings, allowing its owner to live comfortably. Most condos have various amenities, which can be beneficial to their owners. These amenities may include swimming pools, gym memberships, and 24-hour security. Some condos in the country also offer additional facilities, such as laundry facilities, cleaning services, internet, and parking spaces. In many cases, these amenities are usually added to the management fee.
Based on the size, condos in Cambodia range from studio rooms, 1 bedroom, 2 bedrooms, 3 bedrooms, to 4 bedrooms. Studio rooms usually have only one room with an open kitchen and a bathroom, meaning everything is in a single room space except for the bathroom. With 1 to 4 bedrooms, the bedroom(s) is usually separated from the kitchen and the living room.
Some condominium buildings in the country have retail stores and restaurants on the ground (street) level and residential spaces on the upper floors. These types of condominium buildings are considered as mixed-use real estate property.
Cambodia has a population of over 15 million people, with more than 1.5 million of the population living in Phnom Penh, the country’s capital and most populated city. Visitors can see the influences of various Asian cultures, alongside those of France and the United States, in this city. Its French influence is particularly evident in the array of shophouses lining its streets. Tourists usually come to Phnom Peng to see the Royal Palace, explore the National Museum, admire the Silver Pagoda, take a boat trip along the Mekong and Tonle Sap rivers, or indulge in its world-famous food scene.
While Phnom Penh is undeniably very popular, most international visitors come to Cambodia to visit Siem Reap. With over two million tourists a year, this city is the fastest-growing city in Cambodia besides Phnom Penh. It is where the UNESCO-listed Angkor Archaeological Park lies. Besides its world-famous temples, Siem Reap is also filled with spas, trendy cafes, and amazing food. People also come to this city to enjoy Phare the Cambodian Circus.
Those who want to enjoy Cambodia’s beaches visit Sihanoukville. It is a seaside town with numerous white-sand beaches and a clear blue ocean. In recent years, the town is also known for its casinos and nightlife scene.
Battambang is the country’s second-largest city. With its laidback atmosphere, Battambang is worlds apart from Phnom Penh’s hustle and bustle. It is home to beautiful colonial architecture, arty cafes, and hip bars. In the last several years, the city is becoming more and more popular amongst expats.
The official currency of Cambodia is the Cambodian Riels (KHR). 1 USD is about 4,093 KHR. Besides its official currency, US dollars are widely accepted in the country. You can find many ATMs around the country that dispense dollars instead of Cambodian Riels. In areas that are close to the Thai border, the Thai Baht is usually accepted.
The standard of living in the country has been rising consistently in the past decades, but the cost of living is still relatively affordable. With the favorable exchange rate, most foreigners who come from Western countries can live comfortably in Cambodia. Note that the cost of living is typically higher in Phnom Penh compared to other areas.
Cambodia had a difficult past and the country is still recovering after decades of war and bloodshed. However, people are known to be friendly, warm, and humble. The country also has a rich culture. Over 95% of the population is Buddhist, but other faiths are also freely practiced, such as Islam, Christianity, Confucianism, and Daoism.
The country has a tropical climate, meaning it enjoys warm and humid weather all year round, with two main seasons: wet and dry. The wet season starts from May to October and it brings some brief rainfall every day. The dry season, from November to April, has pleasant weather with a lot of sunny days. However, the temperature may soar as high as 35°C.
For foreigners who want to stay in Cambodia long term, an E-class visa (not to be confused with electronic visa) is needed. This type of visa is valid for 30 days and can be extended indefinitely. You can choose numerous visa extensions types, including EB, EG, ER, and ES visa extensions. Many expats who live in the country have EB visa extensions.
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