Four years ago, I wrote about the dynamics of rental property and real estate in Phnom Penh.
IPS has seen significant growth in Khmer real estate and these changes are reflected in the Phnom Penh real estate market.
The Phnom Penh real estate market continues to be vibrant and dynamic but a few things have changed in that time.
The expatriate community continues to grow as increasing numbers of people see Phnom Penh as a viable and positive investment proposition. We are seeing increasing numbers of families choosing to settle in Phnom Penh and these changing demographics are having a marked impact on Phnom Penh apartments for rent as well as properties for sale.
At the same time, a growing Cambodian middle class has contributed to the increased demand for high quality Phnom Penh apartments, as well as houses and villas.
Three factors stand out in this changing market.
The development of modern condominiums, the gentrification of outlying suburbs and in increase in the quality of newly constructed buildings are clear evidence that the Phnom Penh is responding proactively to the city’s changing population base.
These changes have seen the construction of numerous Phnom Penh apartments, many of which remain unoccupied and this is likely to lead to a softening of rentals in the near future.
Phnom Penh real estate continues to change and develop in response to multiple influences. For renters, buyers and owners alike, this dynamic market provides ample opportunities for locals as well as international visitors.
As Cambodia’s premier real estate company, IPS is perfectly placed to provide high quality advice about your real estate needs. Our team of international experts is here to provide up-to-date advice about current and future trends in Cambodian and Phnom Penh real estate.