Phnom Penh: The Capital City of Cambodia
Are you looking to invest in a bustling real estate market? Welcome to Phnom Penh real estate hub! Whether you're seeking budget-friendly or luxurious options, a diverse range of apartments for sale in Phnom Penh awaits your consideration, priced between USD 2,000 to USD 5,000 per square meter. These cheap apartments for sale in Phnom Penh boast enticing potential rental returns, ranging from 5% to 7%, making them promising investment opportunities worth exploring.
Curious about Cambodia's economic landscape? The country's robust economy is on a steady growth trajectory, recording around 5.2% in 2022 from 3% in 2021. This upward surge in growth attracts significant foreign investments, particularly in booming sectors like tourism and manufacturing, fueling an escalating demand for apartments for sale in Phnom Penh. As Phnom Penh's population is slated to increase by 4 million from 16 million in 2020 to 20 million in 2050, the demand for housing is only set to soar.
Supported by investor-friendly government policies in Cambodia and ongoing 1000 new construction projects in Phnom Penh, the city emerges as an attractive investment hub. Beyond its investment allure, the city offers a vibrant lifestyle, brimming with amenities and rich cultural experiences.
Ready to explore the dynamic opportunities within Phnom Penh's apartment sector, where growth converges with a lively lifestyle? Let’s get into the details of apartments for sale in Phnom Penh with IPS Cambodia, and find out the best option according to your budget and requirements.
Reasons To Buy An Apartment In Phnom Penh
Affordability
- Phnom Penh's apartments, priced from $2,000 to $5,000 per square meter, offer a budget-friendly investment suitable for both local and foreign investors.
Solid Returns
- Enjoy strong rental yields of 5% to 7%, ensuring a steady income from your property investment.
Urban Boom
- Phnom Penh's rapid urban growth, expected to increase by 4 million in 2050, fuels a rising demand for housing, driving property values upward.
Economic Momentum
- As one of Southeast Asia's fastest-growing economies, Cambodia's GDP recorded a growth of 5% in 2022, drawing substantial investments into Phnom Penh's property market.
Cultural Richness
- Beyond investments, immerse yourself in Phnom Penh's vibrant cultural tapestry, boasting historical landmarks, a lively Phnom Penh nightlife, and a diverse culinary scene.
Investment Potential
- Positioned as an emerging real estate hub, Phnom Penh aligns with Cambodia's economic surge, offering promising potential for property investment.
Foreign Ownership Rights
- The property law in Cambodia allows foreign investors to own apartments, offering favorable ownership regulations and making it easier for international buyers to invest in the city's real estate market.
Developing Infrastructure
- The city is undergoing significant infrastructure development, including improved roads, transportation networks, and utilities, enhancing the overall quality of life and attractiveness of investing in Phnom Penh apartments.
- Check out the details of project of Cambodia infrastructure to know more.
To understand why living in Phnom Penh is an excellent choice, don't forget to explore.
Advantages of Choosing an Apartment for Sale in Phnom Penh
Prime Locations
- The surge of new apartments in prominent districts like 7 Makara, Chroy Changva, Tuol Kork, Daun Penh, Toul Kork, and BKK1 places you strategically near commercial hubs, offices, tourist attractions, the scenic Mekong River, vibrant dining spots, and shopping centers.
Amenities Galore
- These new apartment complexes offer a spectrum of facilities including infinity pools, fitness centers, yoga studios, lush green gardens, playgrounds, convenience stores, snack shops, and onsite restaurants.
- Some even boast spas, saunas, mini theaters, game rooms, libraries, and coworking spaces, catering to diverse needs for relaxation, health, and work.
Affordability
- Phnom Penh's apartment real estate prices remain relatively affordable compared to other major Southeast Asian cities like Bangkok or Singapore.
- Especially for newer and cheaper apartments for sale in Phnom Penh with modern designs and fixtures, the price per square meter tends to be more budget-friendly.
Community Living
- Apartment living fosters easy connections with fellow residents, offering opportunities to exchange recommendations, establish connections, and even form lasting friendships within the complex, creating a sense of community.
Safety & Security
- Most apartment buildings ensure round-the-clock security with vigilant guards and access control systems using keycards/fobs.
- Many also incorporate video surveillance, providing residents with peace of mind and a secure living environment.
- To help you with further clarified details, home safety security tips from our experts will help.
Maintenance Ease
- Enjoy the convenience of having building management or landlords handle maintenance and repairs, alleviating any concerns about fixing issues that may arise within the apartment.
Investment Potential
- Phnom Penh's evolution as an ASEAN hub signifies promising property value appreciation, including apartments.
- With the city's ongoing development, apartments stand as lucrative investment assets poised for potential appreciation in the coming decade, doubling as an investment opportunity.
What is the standard of living in Phnom Penh?
Housing Affordability
- The cost of housing in Phnom Penh is notably reasonable compared to other Southeast Asian metropolises.
- Apartment prices range between $2,000 to $5,000 per square meter, varying based on location, size, and amenities.
- Rent for a one-bedroom apartment in central areas starts at approximately $300 per month.
Affordable Food
- Enjoy economical dining options in Phnom Penh.
- Local street food stalls offer meals for as little as $1, while mid-range restaurants typically charge between $5-$10 per meal.
- Additionally, the city houses several upscale restaurants serving international cuisine.
- Don't forget to explore some super tasty Cambodian food, famous for its awesome spices and cool mix of flavors.
Accessible Transportation
- Tuk-tuks are the primary mode of transportation, charging around $1-$2 per trip.
- Phnom Penh also offers a public bus system, taxis, and ride-hailing services like Grab, making commuting affordable and convenient.
Healthcare Challenges
- Healthcare in Phnom Penh is improving but has yet to reach the standards of developed countries.
- Private hospitals offer quality care but come with higher costs.
- Public hospitals, while more affordable, may face issues of overcrowding and understaffing.
- To explore more, check out the list of expat-friendly phnom penh hospital.
Educational Landscape
- Phnom Penh's education sector is evolving, albeit with challenges.
- Public schools often grapple with overcrowding and insufficient funding. Private schools can be costly, and while international schools in Phnom Penh offering English-language instruction exist, they come with a higher price tag.
Apartment Types, Characteristics and Average Price offered by IPS Cambodia
Phnom Penh offers diverse areas catering to different lifestyles when seeking an apartment for sale. BKK1 and BKK2 allure urbanites with a bustling atmosphere filled with restaurants and shops, while Toul Kork provides a quieter residential setting yet remains close to the city centre.
Chroy Changvar offers a tranquil riverside environment. Major international schools like Northbridge International School Cambodia in Toul Kork and ISPP in Tonle Bassac cater to expatriate families.
Shopping options like AEON Mall, the biggest mall in phnom penh for various stores, Central Market, and Russian Market for diverse goods. Family-friendly areas encompass Toul Kork, BKK3, and BKK4 due to their residential appeal, proximity to schools, and amenities, making them suitable choices for families seeking apartments in Phnom Penh.
Consider lifestyle preferences, proximity to essential facilities, and the overall ambience of the area when making a choice. Check out the details for apartment types, characteristics, and average prices offered for each in the section below to know more.
Studio Apartments
- Compact yet functional, studio apartments provide an efficient living space ideal for singles or couples.
- Ranging from $50,000 to $150,000, they offer an average of $800 to $1,200 per square meter.
- Despite their size, they often come with amenities such as integrated kitchenettes, sleek designs maximizing space, and in some cases, access to communal facilities like fitness centers or lounges.
- Their cost-effectiveness and minimalistic living appeal make them a preferred choice for those seeking simplicity and affordability.
Check out our guide on why should you rent a studio unit in Cambodia to know more.
One-Bedroom Apartments
- Offering a balance between space and affordability, one-bedroom apartments provide separate living areas from $58,000 to $72,000, averaging $935 to $1,264 per square meter.
- With the inclusion of a private bedroom, these apartments often feature amenities such as upgraded kitchen appliances, in-unit laundry facilities, and sometimes access to building amenities like gyms or communal outdoor spaces.
- Ideal for individuals or couples seeking a bit more privacy and room to maneuver without compromising on essential amenities, one bedroom unit are known to promote better living.
Two-Bedroom Apartments
- Designed for small families or individuals requiring extra space, two-bedroom apartment benefits in Phnom Penh include two separate bedrooms, a living area, and a kitchen.
- Prices range from $60,000 to $120,000, averaging $600 to $1,666 per square meter.
- These apartments frequently offer amenities such as larger living spaces, multiple bathrooms, and access to shared amenities like swimming pools, gardens, or children's play areas, catering to versatile family living.
Three & Four Bedroom Apartments
- Providing more substantial living spaces, these units are priced between $98,000 to $490,000, with an average of $1,100 to $1,821 per square meter.
- Featuring multiple bedrooms, spacious living areas, and often multiple bathrooms, they commonly offer upscale amenities such as larger balconies, private parking spaces, and access to exclusive facilities like clubhouse lounges, spa areas, or rooftop gardens, accommodating larger families or those requiring more expansive living environments.
Serviced Apartments
- Serviced apartments blend the convenience of hotel services with the coziness of a private home.
- Typically fully furnished, they offer a spectrum of amenities for an enhanced living experience.
- Prices for serviced apartments in Phnom Penh vary depending on the location, size, and included facilities.
- On average, a one-bedroom serviced apartment costs between $800 to $1,500 per month, while larger units or those in prime areas range from $1,500 to $3,000 or more monthly.
- The space in these apartments often ranges from around 40 square meters for a one-bedroom unit to 100 square meters or more for larger configurations.
- Amenities commonly include housekeeping, Wi-Fi, gym access, swimming pools, 24/7 security, and sometimes additional services such as laundry or shuttle services.
- These accommodations cater to individuals seeking a comfortable, hassle-free living arrangement in Phnom Penh, whether for short-term stays or longer durations
- Offering housekeeping services, round-the-clock concierge support, and access to communal facilities like fitness centers, swimming pools, and lounges, serviced apartments cater to individuals or families seeking convenience and luxury.
- The allure lies in their ability to provide a hassle-free living experience, making them an ideal choice for short-term stays or those desiring a temporary yet upscale lifestyle.
- Typically, these units boast stylish interiors, modern appliances, and a suite of services akin to a five-star hotel.
For those confused with condo, apartment and serviced apartment, our guide apartment vs condo has got you covered for clarified details.
Penthouse Apartments
- Penthouse apartments signify the epitome of luxury living, occupying the uppermost floors of high-rise buildings and offering breathtaking panoramic views.
- These exclusive residences boast opulent features such as high ceilings, expansive balconies or terraces, and premium finishes.
- Prices for penthouse apartments vary widely based on location, size, and additional amenities.
- On average, a penthouse in Phnom Penh could range from $3,000 to $10,000 or more per month, depending on its size, location, and luxury features.
- Designed to provide an extravagant lifestyle, penthouse apartments showcase spacious layouts, lavish interiors, and sometimes private access to elite amenities like rooftop gardens or pools.
- They exemplify prestige and privacy, catering to individuals seeking an upscale and distinguished residential experience.
Find out the benefits of living in a penthouse, as explained by our experts to know more.
Luxury Apartments
- Cambodia Luxury homes or apartment attributes redefine opulence and sophistication, embodying the pinnacle of residential living.
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These residences are distinguished by their exquisite finishes, top-tier materials, and superior appliances.
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In Phnom Penh, luxury apartments could range from approximately $2,500 to $6,000 per square meter, with variations depending on the specific area, the development's reputation, and the features offered.
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Offering an extensive array of amenities such as state-of-the-art fitness centers, spa facilities, private cinemas, wine cellars, and dedicated concierge services, luxury apartments cater to individuals seeking unparalleled comfort, elegance, and convenience.
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With superior quality finishes, advanced security features, and tailor-made services, these residences are the epitome of a prestigious lifestyle in prime locations.
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The appeal of luxury apartments lies in their ability to provide an unmatched standard of living, setting the benchmark for sophisticated urban dwellings.
When you're searching for an apartment to buy in Phnom Penh, there's a lot to think about. What part of the city suits your lifestyle? Where are the big international schools? What shops and markets are nearby? Which areas are good for families? Whatever you need, we're here to help you find the perfect apartment for sale in Phnom Penh.
Popular Areas to Buy Apartment in Phnom Penh
Boeung Keng Kang (BKK)
- Boeung Keng Kang, consisting of BKK 1, BKK2 and BKK3, is situated within Chamkar Mon district.
- BKK 1, often considered an upscale neighborhood, featuring high-end bkk condos and one-bedroom units, reflecting higher rental rates.
- BKK 2 and BKK 3 offer a mix of residences, from traditional Khmer villa house to modern apartments.
- The area is known for its vibrant atmosphere, with various dining options, entertainment venues, and proximity to commercial centers.
Tonle Bassac
- Located centrally in Chamkar Mon district, Tonle Bassac is highly sought after by expatriates and offers a mix of residential spaces, from high-rise condos to lavish apartments.
- The area is renowned for its proximity to Diamond City, Nagaworld, and several foreign embassies.
- Tonle Bassac also boasts renowned international schools, making it an ideal choice for families.
Toul Tum Poung
- Toul Tum Poung, known as the Russian Market area, is popular among expats for its safe and vibrant environment.
- The district features a mix of residential and commercial spaces, offering convenience with its numerous retail outlets, cafes, and eateries.
- Its secure atmosphere and various amenities make it an attractive choice for many.
Boeung Trabek
- Boeung Trabek is a peaceful residential area featuring local businesses and establishments.
- The district offers a serene living environment while remaining close to essential amenities.
- Landmarks like Boeung Trabek Plaza and the Royal University of Law characterize this calm and local neighborhood.
Olympic
- The Olympic district is known for its mix of commercial and residential spaces.
- It offers various housing options, including high-end condos and more affordable basic units.
- The area is bustling with business activity, offering a range of services, making it a convenient choice for residents.
Daun Penh
- Daun Penh is a major district famous for its historical landmarks, including the Royal Palace, National Museum, and Wat Phnom.
- It offers diverse housing options, including apartments boasting stunning riverside views.
- The area is also known for its vibrant nightlife and cultural attractions.
Khan 7 Makara
- Khan 7 Makara, situated at the heart of Phnom Penh, offers a mix of apartment options catering to diverse budgets.
- The area is characterized by its central location, providing convenient access to various amenities and attractions within the city.
Tuol Kork
- Tuol Kork is an emerging commercial hub with a countryside ambiance.
- The district offers a blend of commercial buildings, residential spaces, and gated communities.
- It is a popular area that still retains its local charm while experiencing rapid development.
Meanchey
- Meanchey district is transitioning from an industrial zone to a potential residential area.
- Presently, it offers a limited number of flats and shophouses for rent, with future plans to develop more housing and commercial spaces.
Russey Keo
- Russey Keo presents a diverse array of residential options, including shophouses, local apartments, and Khmer-inspired villas.
- The district caters to various preferences with varying rental prices and offers a blend of local and expat communities.
Sen Sok
- Sen Sok is recognized for its vast spaces and improved infrastructure, attracting investors and residents alike.
- The district features numerous gated communities and borey developments, providing a comfortable living environment.
Por Senchey
- Por Senchey, while situated at a distance from the city center, offers relatively affordable rental prices.
- It's an area with potential for residential development, offering lower-priced properties and potential investment opportunities.
Chbar Ampov
- Chbar Ampov offers picturesque views of the Mekong and Bassac Rivers.
- The district is undergoing continuous development with ongoing borey projects and mixed-use buildings, presenting various affordable housing options.
How IPS Cambodia Can Help to Buy a Apartment/Flat in Phnom Penh?
If you're considering purchasing an apartment or flat in Phnom Penh, IPS Cambodia is your trusted partner in navigating the real estate market. Renowned as the leading real estate agency in Cambodia, IPS Cambodia offers unparalleled expertise and tailored services to assist you in finding your ideal property.
Extensive Portfolio of Properties
- IPS Cambodia presents an extensive portfolio of apartments and flats for sale in Phnom Penh.
- With a diverse range of options suiting various preferences, budgets, and locations, they cater to your specific requirements.
- Whether you seek a modern studio apartment, a spacious one-bedroom flat, or a luxurious penthouse, IPS Cambodia offers a wide selection to explore.
Expert Guidance and Local Insight
- Leveraging years of experience in the Cambodian real estate market, IPS Cambodia's team possesses profound knowledge and understanding of the local property landscape.
- Their expertise ensures you receive accurate information on available properties, pricing trends, and legal intricacies related to buying an apartment for sale in Phnom Penh.
Personalized and Professional Assistance
Trust and Integrity
- When it comes to property investments, trustworthiness and integrity are pivotal.
- IPS Cambodia upholds a reputation built on honesty, transparency, and ethical business practices.
- They maintain open communication, offering reliable information and expert guidance at every stage of the purchasing journey.
Additional Support and Services
- Beyond their core real estate services, IPS Cambodia offers comprehensive support for a seamless buying experience.
- While focusing on purchasing an apartment or flat in Phnom Penh, they also extend assistance with various aspects such as legal procedures, property management, and relocation advice, ensuring a smooth transition into your new property.
With IPS Cambodia's commitment to excellence, extensive property listings, local insight, and personalized service, your journey to buying an apartment or flat in Phnom Penh becomes efficient, transparent, and rewarding. Also, take a look at considerations before buying an apartment in Cambodia to know more.
Step-by-Step Guide on Buying an Apartment/Flat in Phnom Penh
Purchasing an apartment in Cambodia involves a structured approach:
Step 1: Contact a Reputable Real Estate Agency
- Connect with a trusted real estate agency like IPS Cambodia renowned for multilingual support and tailored services for expats and international clients.
- Outline your apartment purchase requirements, including location, budget, amenities, and specific features desired.
Step 2: Specify Your Apartment Preferences
- Detail your desired apartment specifics during your initial conversation to facilitate a targeted search process.
- Be clear about the number of bedrooms, desired facilities, preferred size and other specific features you’re looking for in an apartment in Phnom Penh.
Step 3: Property Selection
- According to the provided information, the local real estate agents at IPS Cambodia will provide you the best options of apartment for sale in Phnom Penh, reflecting your preferences and desires.
- Since the real estate agencies have an extensive database of properties, it saves lot of your time and efforts.
Step 4: Property Visit and Inspection
- After you have finalized the best options from the extensive list, book a viewing through the agency to thoroughly inspect shortlisted apartments, noting conditions and amenities.
- Do note the potential maintenance issues and repairs to save your cost.
Step 5: Negotiation and Offer
- Now that you have finalized the best option, negotiate purchase terms with the agency's guidance and finalize a fair price.
- The agency acts as an intermediary between you and the seller.
Step 6: Signing the Purchase Agreement
- Review and sign the purchase agreement provided by the agency, ensuring all agreed-upon terms and required documentation are included.
Step 7: Payment Procedures and Financing Options
- Understand the payment terms for the apartment purchase, including available payment options like bank transfers, checks, or digital payments.
- Explore real estate finance and mortgage information facilitated by the agency.
Step 8: Moving and Settling In
- Moving in to the new apartment in Phnom Penh can be daunting, especially for an expat or a foreigner.
- Therefore, assisting with the right moving company who are aware of the details is crucial.
- Do some back-end research and work to find the best moving agency.
- Once you’ve moved in to the new apartment, the next step is to set up the utilities, adding personal touches to get homely feels, and connect with local communities.
- Go through and respect the local customs to make integration smoother.
- Local and expert real-estate agents at IPS Cambodia have drafted moving tips for real estate packing and checklist before moving-in guide to help investors with details.
Step 9: Post-Purchase Property Management Services
- Access customized services for expats, including relocation assistance and language support, ensuring a smooth transition into your new home.
Step 10: Maintenance and Repairs
- Living in a new space, or a built-in property may have some issues, so familiarize yourself with typical repairs to promote cost-saving plans.
Step 11: Enjoy Your New Home!
- Congratulations on purchasing your apartment in Cambodia!
- Make yourself comfortable, personalize your space, and reach out to the real estate agency for continued support as needed.
For any queries and personalized assistance, kindly complete our inquiry form. We assure you of prompt responses to all your questions and needs. Your ideal apartment or flat is just a single click away. Don't hesitate to contact us now!
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Frequently Asked Questions
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