Finding a place to invest in real estate in Cambodia, especially if you’re looking to develop a project or home within the bustling capital of Phnom Penh, is challenging. This is especially true when you have a specific budget for land that you’re willing to shell out monthly. On the other hand, even if you have a bigger budget and you want a property befitting your upscale lifestyle, there are key areas within the city where you’ll have more luck finding it.
Named as the most sought-after districts in Phnom Penh, Chamkarmon, Daun Penh and 7 Makara offer the highest land prices in the capital.
For you to have a better idea what the most expensive districts to buy land in Phnom Penh are, check out the curated list below.
One of the oldest districts in Phnom Penh that has undergone massive renovations over the years is Daun Penh. It’s also one of the most expensive districts in the city since it houses key attractions to Cambodian culture, including the Royal Palace, which is the residence of the King of Cambodia.
Besides that, three of the famous large markets in the city are located here, which are the: Old Market (Phsar Chas), Phsar Kandal, and Central Market (Phsar Thmey). Different government offices are also located here, increasing the base price for residential and commercial properties.
It’s particularly true for the most expensive part of the district for commercial lands, located at Phsar Thmey sangkat 1 to 3, where commercial land is sold at an average of $9,000 per square meter. On the other hand, sangkat Phsar Chas has the highest price for residential land at an average of $4,000 per square meter.
Closely following Daun Penh is 7 Makara, which is conveniently located at the heart of Phnom Penh. It’s considered a quiet area in the city since it’s the smallest district, and there are more residential properties to find here. However, the famous Olympic Stadium, which is the National Sports Complex of the country, can be found here, alongside renowned universities and embassies.
While the average prices for properties in 7 Makara are high, there are certain sangkats that have the highest prices for commercial and residential land. For example, the most expensive commercial land is located in Orussey sangkat 1 to 4 where land is sold at an average of $6,000 per square meter. On the other hand, the most expensive residential land is located in Boeung Prolit sangkat at an average close to $4,000 per square meter.
However, the average commercial land price here is at $5,400 per sqm, while residential land price is at $3,300 per sqm, especially if you don’t choose within the higher priced sangkats.
Third in the list is the Chamkarmon district, which is known to be the ideal residential area of the city, located in the south. It’s the go-to district for locals and tourists alike who want to be near the Central Business District and entertainment options like the nightlife. This is because different upscale hotels, bars, commercial properties and more have been constructed in this area, catering to those who prefer convenience and high-quality living.
On average, the price of residential land at Chamkarmon is at $3,000 per square meter, while commercial land is at $5,100 per square meter.
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