Property for sale in Phnom Penh

Phnom Penh is growing at a rapid rate with a variety of property types suiting all manner of budgets. The majority of real estate is composed of six main categories. These include traditional Khmer houses and shophouses not to mention refurbished shops, apartments, apartments with complete facilities and freestanding villas.

Spread across three of four stories, Khmer style shop houses are affordable options and can be rented as separated condos, usually located around the inner city or suburbs. Thanks to ongoing construction in areas such as Doun Penh and 7 Makara, there is potential to purchase older apartments or shop houses and either rent out or resell them.

Renovated shophouses provide westernized influences attracting numerous foreign buyers. Measuring around 50 feet long, properties have been modernized throughout from flooring and lighting to fitted kitchens and even air conditioning. Meanwhile, brand new Western-style condos in Phnom Penh are being built with a plethora of sizes and styles available. Built to a higher finish, they are usually larger and feature different components such as cooktops, bathtubs and kitchen cabinets.

High-quality condos can be found in Tuol Tum Pong, Boeung Keng Kang, Russian Market, Tuol Kouk as well as Steung Meanchey. Sen Sok, Chebar Ompov and Chrouy Changvar are the places to find brand new luxury serviced developments, colonial style, and newly developed villas. Fully serviced apartments are completely furnished and come with a gym, swimming pool, laundry facility, dedicated security, and on-site parking. Some of the capitals most popular developments include City Palace Apartments and Grand Residence.

Situated north of the city is Daun Penh where tourists can explore Sorya shopping mall, Wat Phnom and the lively Central Market. Less than a 15-minute journey from BKK1 or Tonle Bassac, rental properties are much more cost effective whilst there are a host of upgraded apartments catering to Western standards. Boasting a three-kilometer boulevard, Sisowath Quay is home to a collection of exclusive riverfront properties. Nestled in between numerous luxury hotels, restaurants, quaint cafes and bars, investors can also benefit from spacious contemporary apartments close by.

In recent years, Toul Tom Poung has emerged as one of the hippest areas in Phnom Penh. Alongside the Russian Market, investors can discover a plethora of new businesses, cafes, restaurants, and bars that are continually opening. Consequently, new apartment buildings and developments are springing up as the property trend grows here and in the surrounding areas. Adjoining Toul Tom Poung is Tonle Bassac where there are a wealth of amenities, boutique style bars, charming cafes and stylish restaurants on Bassac Lane. Buyers will discover plenty of development taking place and a collection of villas in this specific area.

Known as BKK1, Boeung Keng Kang is where you will find some of Phnom Penh’s most rapid property expansion. Many of the streets have been completely gentrified with modern apartment blocks, hotels, coffee shop chains, fast food eateries and international brands.

Toul Sleng is another area that's gaining interest where increasing numbers of condo blocks combine with modern apartments and Khmer style accommodation with convenient travel to downtown Phnom Penh.

Steeped in heritage, This former “Pearl of Asia” is home to tree-lined boulevards, parks, and nearby attractions. It features the historic Royal Palace and the iconic Silver Pagoda that glistens with 4,000-plus silver tiles and diamond encrusted Buddhas among other statues. Discover Khmer art treasures at the National Museum, pay homage to the Choeung Ek Memorial or barter at the Art Deco-inspired Central Market.

For retail therapy, head to either Street 240 or Street 178 whilst vibrant nightlife can be found a stone's throw from the riverfront offering a collection of pubs, cafes, and bars. Culture vultures will be able to see live performances of shadow puppetry and Apsara dancing at The Sovanna Phum Art Association.

Take a boat ride down the Tonle Sap River, learn about Cambodia’s past at the Killing Fields or experience elephants at the nearby Phnom Tamao Wildlife Sanctuary. Phnom Penh is also looking to expand its medical tourism sector attracting overseas patients seeking top-notch, low-cost procedures from several countries including China, Laos, and Taiwan.

1. No Capital Gain Tax—Thanks to the pro-business governmental stance and an emerging investment market, there is favorable tax and attractive investment benefits for foreign owners.
2. Fast Growing Economy— There is plenty of fiscal crossovers as Cambodia lies between Thailand and Vietnam, whilst there hasn’t been a recession in over twenty years.
3. Transport Connectivity— Key links to cross-border countries and the train system will be soon upgraded. The Seaport based in Sihanoukville has undergone significant modernization whilst the port is being relocated and expanded. In addition, the synergy between the three major airports in Cambodia has seen more than 10 million passengers travel to Phnom Penh among other destinations making it more accessible for investors.
4. Exciting Cityscape— Blending new and improved property developments with busy street markets, ornate temples, diverse cuisine, and a financial district make Phnom Penh one of the most forward-thinking cities in the region.
5. Rental Market— Phnom Penh ranks among the top three highest rental yields across Asia exceeding 7% on an annual basis. A newly refurbished tasteful apartment in central Phnom Penh could achieve returns of over 10% annually.

Property ownership in Phnom Penh is open to foreigners, and there are plenty of properties available for sale. However, it's important to be aware of the risks involved in investing in property in a foreign country. There have been cases of fraud, and it can be difficult to obtain a mortgage from a Cambodian bank. You must be aware of the local customs and laws regarding property ownership. For example, in Cambodia, it's not possible to sell property that is leased from the government. If you're considering buying property in Phnom Penh, it's essential to seek professional advice and do your research before making any decisions.

When it comes to finding the best deals on property in Phnom Penh, there are a few key neighborhoods that stand out. For starters, the Russian Market area is always a good bet. This neighborhood has seen a lot of development in recent years, and as a result, prices are relatively affordable. Additionally, the Market area is centrally located, making it a convenient place to live. Another neighborhood to consider is Boeung Keng Kang. This area is slightly more expensive than the Russian Market, but it offers a wide range of amenities, including grocery stores, restaurants, and parks. Lastly, Wat Phnom is also a great option for those looking for property in Phnom Penh. This neighborhood is known for its beautiful temples and colonial-era architecture. In addition, Wat Phnom is home to many of the city's government offices, making it a convenient place to live or work.

Recently, property prices in Phnom Penh have increased, and although there is a wide range of prices depending on the location and size of the property, the average cost of a house in Phnom Penh is around $250,000. There are a number of factors that have contributed to the increase in prices, including the growing popularity of Phnom Penh as a tourist destination and the increasing number of businesses relocating to the city. However, there are still a number of affordable options available, especially if you are willing to compromise on location or size. Whether you are looking for a place to call home or an investment property, Phnom Penh has a lot to offer.

The cost of building a small house in Phnom Penh will depend on the size and location of the property. There are many factors to consider when purchasing property, such as the type of property, the location, and the amenities. The average cost of a small house in Phnom Penh is $500,000. However, if you are looking for a more luxurious property, the price can go up to $1 million. There are many different types of properties for sale in Phnom Penh, so it is important to do your research before making a purchase. You can find a variety of properties for sale on websites like PropertyGuru.com.kh.