Phnom Penh is the capital city of Cambodia, ever since the city was a French colony. Located at the junction of the three great rivers, the Mekong, the Tonle Sap, and Basaac, Phnom Penh was once regarded as ‘The Pearl of Asia'. The city radiates the magic and serenity of its monuments and French colonial buildings. Modern skyscrapers, Western-style malls, and high rise buildings are emerging across the city in the last few years.
Phnom Penh acquired its name from the historic ‘Wat Phnom’ or Hill Temple that was built in the year 1373. The temple comprises of five huge statues of Buddha resting over a man and sits on a man-made hill which is 27metres tall. Phnom Penh is now a bustling economic and industrial center of Cambodia.
The City stretches across an area of 678 sq. Km housing over 2 million residents. The city is one of the major tourists’ destinations in the country. The stunning tourist's spots include The Royal Palace, the Silver Pagoda, National Museum, Toul Sleng Genocide Museum, and the traditional ornate temples. You will get yourself immersed in the Khmer architecture and Cambodian culture as you stroll around the streets of Phnom Penh. Many cafes, restaurants, and pubs line the riverfront promenade and provide vibrant, scintillating nightlife.
Urbanization, Industrial development, and tourism all attribute to the recent economic boon. Tourism accounts for 17.5% of the nation’s GDP and 13% of total employment. The real estate sector took a plunge during the global economic crisis of 2010. Yet, the city has bounced back at a rapid pace and is fuelled by the nation’s steady economic growth and development. Phnom Penh is now a bustling economic and industrial center of Cambodia.
Find the latest rental rates on the Phnom Penh property market
Phnom Penh is a dynamic city and it is an ideal location for expats. There are several different types of housing options available, shop-houses, western-style apartments, and villas are there to cater to the accommodation requirements of expats and locals.
Villas, which are also known as free-standing houses are not very common in this city. Phnom Penh has both the traditional Khmer style villas and contemporary villas. They are of varying sizes, but they are available with at least three or four bedrooms with a dedicated parking spot and 24x7 security. Villa rentals come in around as low as $1000 per month to about $5000 per month depending on the locality and size.
Luxury riverfront villas are High end that comes with stylish interiors and luxurious amenities. Two-story gated community villas overlooking the giant River Mekong are quite popular. You can enjoy the serenity of the river and the sky during the early hours of the day from your balcony.
The municipality of Phnom Penh comprises of 12 khans or sections. They are further subdivided into sangkats and phums or villages. A few of the more popular municipalities for expats are listed below.
The cost of living is pretty cheap, You can enjoy a tasty and sumptuous meal for $2 in a local fast food chain shop. Most locals prefer to use a tricycle, tuk-tuk to get around the city. Remoke-motos are also inexpensive, which can cost you $2 for a shorter ride and $3 and upwards for longer rides. Bus transportation is the best way to avoid exhausting traffic. You can travel comfortably in the air-conditioned public buses. The ticket prices are low at $0.40 for a single journey. The local community of Phnom Penh is extremely friendly and it is easy for the expats to get along with them. A good number of hospitals are available to provide intensive and emergency medical care. Though Khmer is the most spoken language in the city, surviving with only English will not be a problem.
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The median monthly rent for rental homes in Phnom Penh is $2,500
The median monthly rent per square meter in Phnom Penh is $60
At the moment there are 1,098 properties available for rent in Phnom Penh