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Find the latest rental rates on the Phnom Penh property market
Phnom Penh is the Capital City of Cambodia and the population of the city equals 14% of the total population of the country. The city comprises of 60% native residents, 15% Chinese settlers, 20% Vietnamese and 5% other. The city population is increasing year on year by an average of 3%.
Phnom Penh experiences two types of weather seasons, dry season from October to late April and the wet season from May to late September. The hottest months of the year are usually from March to June with temperatures of over 35°C and Humidity is at its worst in March and April.
The city’s rich history and cultural attractions attract backpackers from all over the world. Phnom Penh is the largest, and the wealthiest city of Cambodia and It believes in flexible investment laws to boost the economy of the city. The city is currently witnessing enormous growth in business, infrastructural developments, and tourism. Whilst visiting this city there are plenty of local tours available for you to explore this great City.
Riverside or Sisowath are the best regions in the city to live in, considering this your first visit to the city. The district offers the best designers, resto-bars, hotels, and restaurants suitable to all budgets. Situated at the junction of the Tonle Sap and Mekong rivers, this locality attracts expats to visit the prominent sites such as the Royal Palace, Wat Ounlaom Pagoda, National Museum and the authentic street markets. It provides a perfect riverfront view with mouth-watering cuisine. Experience the local traditions first hand, and enthralling nightlife and you will find that Sisowath is an ideal place to rent an apartment or condo.
City Center comprises of the northern part of Phnom Penh. Tourists can pick any variety of property to rent. This area provides the best rental properties with, restaurants and bars suitable for different styles. Within walking distance, you will find tourist spots such as Central Market, Golden Sorya Mall, Wat Phnom Pagods, and Freedom Park.
Independent Monument is between Sihanouk and the Norodom Boulevards are in the southern part of Phnom Penh. It is also popular amongst expats as many foreign houses and embassies are in this region. It is an affluent hub, with high-end restaurants, café, boutiques, and spas.
With massive scale building development under construction, the city still retains its country style of life. The residents trust their faith in Buddhism and family traditions are maintained and passed from generation to generation.
Phnom’s gives equal importance to everyday life, education, work, religion and so on. In most families, there is a single breadwinner which runs the household day to day expenses. During festivals, the whole family gets together to celebrate the occasion and the people of the city believe in paying tribute to mother nature for what she has given to them and with 80% of the population surviving on agriculture, a celebration of the crop festival is a large scale event.
On more practical terms Phnom Penh provides a back lifestyle. The city’s cost of living is not expensive compared to other major cities, but you must consider the day to day transportation facilities. To own a car and drive around the town would be very costly; also you should be aware of the Phnom Penh driving laws. Phnom Penh does not recognize an international driving license, and the price of fuel is dearer than public transportation. The city provides a decent life to lead for its residents with high ratings given by immigrants for the cost of housing, security and tax benefits. Phnom Penh is ranked 54th in place amongst the 248 cities for its quality of life; the city provides to its citizen.
1. Cost of living: Phnom Penh provides a safe and calm lifestyle compared to other major cities. The city represents the government's strict laws and enforcement system, which are similar for immigrants and citizens.
2. 0% Unemployment: The city proudly boasts a 0% unemployment rate. Phnom Penh is a developing city; statics show the economic growth in the city is at a high of 12% per year.
3. Best climate: On average, the city experiences a tropical monsoon climate, with 282 days of sun every year. It makes the city very attractive to live and work in by the expats.
4. GDP: The city is in a massive developmental stage, with the youth dominating the country. Phnom Penh promises to be a future city, providing an affordable cost of living, secured life.
Yes, foreigners can rent property in Phnom Penh. There is no law that prohibits foreigners from renting a property in the city, and many landlords are happy to welcome tenants from all over the world. However, it is important to note that rentals are typically for long-term leases, so if you're looking for a short-term rental, you may have difficulty finding a property. In addition, most landlords will require a valid passport and proof of employment or income before they agree to rent to you. Overall, there is no reason why a foreigner cannot rent property in Phnom Penh.
There are many foreigners who live in Phnom Penh, and they tend to live in specific areas. Most of the properties that are for rent are located in BKK1, BKK3, and Toul Tom Poung. These areas have become increasingly popular with foreigners over the last few years because they are centrally located and close to many amenities. There are also a number of long-term rental options in these neighborhoods. In addition, many foreigners also live in Phnom Penh's suburbs, such as Kandal Province and Takhmao. These areas offer more space and privacy than downtown properties, and they are often more affordable. As a result, there is no one answer to the question of where foreigners live in Phnom Penh. It depends on each individual's needs and preferences.
The rental prices in Phnom Penh have increased these days, as the city undergoes a period of rapid development. For renters, this can make finding an affordable place to live a challenge. However, there are still deals to be found if you know where to look. The best time to search for a rental property in Phnom Penh is during the dry season, which runs from November to April. During this period, there are fewer people searching for rentals, and landlords are more likely to negotiate on price. You can also take advantage of the cooler weather to visit potential properties without having to deal with the heat and humidity of the wet season. So, if you're looking for a long-term rental in Phnom Penh, start your search during the dry season for the best chance of finding a great deal.
Property in Phnom Penh is one of the most expensive cities in Cambodia. For those looking to rent a house, the average monthly price is around $1,500. However, prices can change widely depending on the location and size of the property. For instance, a three-bedroom house in a popular ex-pat area like BKK1 can cost as much as $3,000 per month. On the other hand, a smaller house in a less desirable location may only cost $700 per month. Long-term rentals are usually charged annually and tend to be slightly cheaper than monthly rentals. For example, a three-bedroom house in BKK1 might cost $25,000 per year, while the same property rented on a monthly basis would cost $3,000 per month.