APARTMENTS FOR RENT IN PHNOM PENH

Phnom Penh: The Capital City of Cambodia

Phnom Penh is the capital city of Cambodia. It has a population of more than 2 million people, making it the most densely populated city in the country. It is also the bustling financial hub and residential haven of Cambodia. 

Phnom Penh is also known for its French Colonial architecture, temples and home to some of Cambodia's best museums and galleries, including the National Museum of Cambodia and the Royal Palace Museum. The bustling nightlife in Phnom Penh scene offers a wide range of restaurants, bars and clubs to choose from, while its riverside location makes it an ideal place to relax during the day or evening.

As the population and tourism grow, there are more people in need of apartments for rent, which is a popular choice for both short-term and long-term tenants looking for a comfortable and convenient home in the city. 

As environmental concerns gain popularity globally, 2023 real estate trends in Cambodia will see a spike in eco-friendly and sustainable building construction. The real estate sector anticipates that this trend will pick up steam, with more buyers and investors prioritizing ecologically and energy-efficient homes.

For the last ten years, the Cambodian real estate market has experienced rapid expansion; however, in 2023, it will confront difficulties due to shifting global economic conditions, a decline in Chinese demand, and an abundance of new projects.

However, there are also some positive signs, such as the continued growth of the Cambodian economy and the government's efforts to improve the investment environment.

Reasons To Rent An Apartment In Phnom Penh?

Cost of Living

• The cost of living in Phnom Penh is influenced by your chosen lifestyle. However, compared to other Southeast Asian capital cities, Phnom Penh generally has lower living expenses.

You Are Not Responsible for Maintenance

• Since the apartment is not yours, you can avoid paying for maintenance. The landlord often handles maintenance problems.

Quick Economic Growth

• From 1998 to 2018, Cambodia's GDP grew at an average annual rate of 8%, making it the fastest-growing economy in Asia.

Advantages of Choosing an Apartment for Rent in Phnom Penh

Choosing an apartment for rent in Phnom Penh comes with several advantages over other types of accommodation. 

• Firstly, apartments offer more space and privacy compared to hotels or guesthouses.
• Secondly, they often come with fully equipped kitchens and living areas, giving you the flexibility to cook your own meals and enjoy a homely environment.
• Thirdly, apartments also provide a cost-effective option for long-term stays, as they are typically more affordable than extended hotel stays.
• Finally, apartments are usually located in residential neighbourhoods, allowing you to experience the local culture and lifestyle more intimately.

What Is The Standard of Living in Phnom Penh?

Phnom Penh generally has lower living expenses than most of its neighbouring nations. Several options for public transit and affordable lodging are located across the city. Tuk-tuks and motorbike taxis are fairly cheap ways to get around the city.

A tuk-tuk ride throughout Phnom Penh will only set you back roughly $5. Phnom Penh has everything to offer, from gourmet restaurants to street food. For those on a budget, plenty of tasty street food vendors in the city and home cooking options exist.

The supermarkets are stocked to the brim with inexpensive domestic and foreign goods. Cambodian Riels (KHR) are the official currency; one USD equals 4,080 KHR. Nonetheless, US currencies are commonly used.

Apartment Types, Characteristics and Avg Rent offered by IPS Cambodia

When searching for apartments in Phnom Penh, you'll come across various options to suit different lifestyles and preferences. Whether you're a solo traveller, a couple, a young professional, a small family, or even a larger family or group of roommates, IPS Cambodia in Phnom Penh has a range of apartments to suit your needs and preferences.

Let's explore the different types of apartments available in the city:

Studio Apartments

• Studio apartment for rent in Phnom Penh are designed for individuals or couples seeking a compact and efficient living space. 
• They typically feature an open layout, with the living area, bedroom, and kitchenette combined into a single room. The bathroom is usually separate, providing privacy and convenience. Some studio apartments may also include a small balcony or terrace, allowing residents to enjoy fresh air and outdoor views.
• Avg Rent Price: $350 - $600

One-Bedroom Apartments

• One-bedroom apartments in Phnom Penh are well-suited for young professionals or new couples seeking a bit more space and privacy.
• They typically comprise an ensuite bedroom, a living area, a fully equipped kitchen, and a bathroom. The bedroom offers privacy and serves as a dedicated space for rest and relaxation. The living area provides a comfortable space for entertaining guests or spending quality time with family.
• Avg Rent Price: $400 - $1,300

Two-Bedroom Apartments

• 2 bedroom apartment for rent in Phnom Penh are designed for small to midsize families or groups of roommates.
• They typically consist of two separate bedrooms, a spacious living area, a fully equipped kitchen, one or two bathrooms, and sometimes a balcony or terrace. The extra bedroom(s) provide more space and privacy, making it easier to accommodate family members or share the space with roommates.
• Avg Rent Price: $700 - $2,500

Three & Four Bedroom Apartments

For those in need of more spacious living accommodations, IPS Cambodia offers three and four bedroom apartments for rent in Phnom Penh.

• These larger apartments are suitable for extended families or individuals who require extra rooms for various purposes such as a home office, guest room, or playroom.
• These apartments provide ample space for everyone to have their privacy and create a comfortable living environment. They typically feature multiple bathrooms, a generous living area, a fully equipped kitchen, and may include additional amenities such as balconies or terraces.
• Avg Rent Price: $1,200 - $3,500 (3 Bedrooms)
• Avg Rent Price: $2,500 - $4,500 (4 Bedrooms)

Serviced Apartments

• Serviced apartment for rent in Phnom Penh are also known as extended-stay apartments and are best suitable for short-visit tourists who want to enjoy luxury.
• These types of apartments are fully furnished residential units that offer hotel-like services and amenities, these apartments may also include housekeeping, maintenance, and utilities. These apartments are designed to provide a comfortable and convenient accommodation option for both short-term and long-term stays.
• Avg Rent Price: $500 - $1,500 (Studio & 1 Bedroom)

Penthouse Apartments

• A penthouse apartment in Phnom Penh for rent is a luxurious and exclusive residential unit best suitable for big-families or extended families who want luxury stay.
• These Apartments are typically located on the top floor of a building, offering breathtaking views and premium features. It is considered the pinnacle of residential living and is often associated with high-end real estate and affluent lifestyles. Penthouse apartments are characterised by their expansive layouts, high ceilings, and premium finishes. They often feature private terraces or rooftop gardens, allowing residents to enjoy outdoor living and entertainment.
• Avg Rent Price: $4,000 - $9,000

Luxury Apartments

• Luxury apartment for rent Phnom Penh redefine modern living with their high-end features, premium finishes, and exclusive amenities best suitable for big-families or extended families who want luxury stay.
• These apartments are designed to provide residents with an extravagant lifestyle. Luxury apartments often feature spacious layouts, sophisticated interior designs, top-of-the-line appliances, and luxurious bathrooms. They also offer a range of high-end amenities such as swimming pools, fitness centres, spa facilities, rooftop gardens, and concierge services.
• Avg Rent Price: $2,500 - $6,000 (3 & 4 Bedrooms)

Popular Areas to Rent Apartment in Phnom Penh

The city of Phnom Penh is a municipality with independent authority. It has the same function as any province in Cambodia. The city has 14 districts under its jurisdiction. The government declared BKK District (Chamkar Mon) and Kambol District (Por Senchey) as separate, independent districts in 2019.

There are many residential areas in Phnom Penh suitable for any budget and lifestyle. Some districts are attractive because it is near to the business areas. Other locations offer the best views like the Riverside area. Some residents choose areas based on their countryside charm.

Below are the 14 Phnom Penh districts and the characteristics of each one.

Boeung Keng Kang

• BKK 1, 2 and 3 are part of Chamkar Mon district until it became a separate Khan in 2019. The four main roads of Preah Sihanouk Blvd (north), Street 163 (east), Mao Tse Tung Blvd (south), and Norodom Blvd (west) circle the land area of BKK.
• Among the districts, BKK1 has the highest rental prices. BKK1 offers studio apartments, one bedroom units, and condos starting from $500+. BKK 2 and BKK 3 have a mix of shophouses, Khmer villas, and modern apartments for rent.
• Prices in BKK2 and BKK3 start from $400 and above.

Chamkar Mon

Chamkarmon is the center of the Cambodian economy. There are many popular areas in Chamkar Mon district including:

Tonle Bassac

• Centrally located with access to any part of Chamkar Mon.
• All districts are 5 minutes from Tonle Bassac.
• The district is home to most Foreign Embassies in Phnom Penh.
• It has many established International Schools, Diamond City (Koh Pich), and Nagaworld.
• Tourist destinations like the Statue of Sihanouk Norodom and AEON Mall 1 are located in Tonle Bassac.
• Choice housing location for many foreigners in the city.
• Many Embassy employees and non-government groups live in this area.
• It has condo units and apartments for rent from $550+ and above.

Toul Tum Poung

• Divided into two parts, TTP 1 and TTP 2.
• The famous Russian Market is in Toul Tum Poung 1.
• It is the safest area for foreigners in the city.
• Toul Tum Poung is a mixed residential and commercial area.
• It has many business places like bars, restaurants, retail outlets, coffee shops, pharmacies, and clinics. Condos & Apartments for rent in Toul Tum Poung are from $400+ and above.

Boeung Trabek

• Quiet residential area with local business establishments.
• Famous landmarks are Boeung Trabek Plaza and the Royal University of Law. Condos & Apartments for rent in Boeung Trabek are from $400++ and above.

Olympic

• The most popular landmark is the Olympic Market.
• Apartments and other properties are more expensive than TTP and Boeung Trabek.
• The housing spaces have the same rental prices as Tonle Bassac and BKK.
• Olympic is mostly commercial area.
• It has high-end condo buildings and apartments for rent which start at $600+ and above. Meanwhile, basic condos are from $350+ and above.

Daun Penh

• Khan Daun Penh is a major district with many tourist destinations. This area is where St 172, the best entertainment place, is located.
• Other tourist destinations are the Royal Palace, National Museum, Sisowath Quay, Royal Railway Station, and the Wat Phnom Temple.
• Daun Penh has many houses and apartments for rent. Rental prices start at $600 - $1,500. Prices depend on the number of rooms, amenities, and furnishings.
• There are housing choices for any budget in this district. Many apartments have a balcony that boasts of a beautiful riverside view.

Khan 7 Makara

• 7 Makara, also known as Prampir Makara, is the center of Phnom Penh City. It is the smallest district in land area and population. Unlike Chamkar Mon, 7 Makara has a lesser price for land and housing spaces.
• Apartments for rent starts from $300 - $1,000 for one-bedroom units. Famous landmarks are the National Olympic Stadium, Phnom Penh International University, and Orussey Market.

Tuol Kork

• An emerging commercial district, Toul Kork is ~20 minutes away from BKK. It has many commercial buildings and Boreys (gated communities) built in the last few months.
• Toul Kork is one of the more popular areas but it still has a countryside feel. Rental for apartments, condos, and shophouses are not as expensive as the central areas.
• Residential rental in this area can start from $500 and above.

Meanchey

• Khan Meanchey has 4 Sangkats, the biggest is Steung Meanchey. Currently, the district is for industrial use. Many factories are operating in this area.
• However, the government plans to move the factories to another province when their contracts expire. Talks are ongoing to convert the district to residential.
• This is a long-term answer to the need for more housing and commercial spaces. However, there are still few flats and shophouses for rent for around $350.

Russey Keo

• The district is the second largest in Phnom Penh city. It has a land area of ~106 kilometers. It stretches from Dangkor district in the east to the Tonle Sap River in the west.
• Rental prices here are lower for shophouses, local apartment buildings, and Khmer inspired villas. Camko City in Russey Keo offers high-priced mixed-use development properties.
• It caters to foreigners and rich locals. The properties have the same prices, services, and features as BKK1.
• Rent of serviced apartment in this area is cheap and can start from $350 per month.

Sen Sok

• Sen Sok is a long term solution to the brimming city center. The districts’ vast open spaces and improved infrastructure is attractive for foreign investors.
• It has the most number of boreys or gated communities. The most notable landmarks are AEON Mall 2 and Makro Supermarket.
• Commercial land is available for $800-$2,500 per sq.m. The highest value is along the main roads and plots surrounding AEON Mall II.
• Residential properties are slightly lower at $400-$1,500. Studio units and one bedroom apartments for rent start from $300++.

Por Senchey

• The largest in land area, Por Senchey has 13 Sangkats and 158 phums. The district is residential, with Borey New World as the biggest gated community. The famous landmark is Phnom Penh International Airport in Pochentong commune.
• Despite its distance from the city centre, being near the airport makes this area a bit expensive compared to other suburbs like Sen Sok, Meanchey and Russei Keo. The rental can start from $600 per month.
• Por Senchey covers almost the whole western part of Phnom Penh. It is an attractive investment area for low to mid-priced development because of its cheap land prices.
• Expensive residential spaces are very few. Most of the housing choices are shophouses, Khmer villas, or houses inside the gated communities.

Chbar Ampov

• Offering lovely views of Mekong and Bassac Rivers, Chbar Ampov is one of the districts ready for commercial use.
• Many borey developments are ongoing. These developments offer more housing spaces for people living and working in the city.
• Aside from that, there is still an assortment of Khmer villas and local apartments that offer low-end spaces, around $300 monthly for apartments and around $600 monthly for villas.
  

With various gated communities and mixed-use buildings built in the city, there is an endless supply of apartments for rent in Phnom Penh. Whether working in the city or living here for good, there is a residential space that is right for you.

How IPS Cambodia Can Help to Rent an Apartments in Phnom Penh

We are a leading real estate agency that specializes in helping individuals and families find their ideal rental properties. With extensive knowledge of the local market and dedication to exceptional service, We are your trusted partner in securing the perfect apartment in Phnom Penh.

Other benefits of choosing IPS Cambodia to rent apartment in Phnom Penh are:

1. Extensive Property Listings

• Our website boasts an extensive and up-to-date database of rental properties in Phnom Penh. Our comprehensive property listings feature a wide range of apartments suited to different budgets, preferences, and requirements.
• Whether you're looking for a studio apartment, a one-bedroom unit, a spacious family apartment, or a luxury penthouse for rent, we have a diverse selection to cater to your needs.

2. Personalised Consultation

• Our team of agents understand that finding the perfect apartment involves more than just browsing listings. We offer personalised consultation services to understand your specific requirements and preferences.
• By taking the time to listen to your needs, we can provide valuable guidance and help narrow down the options that best suit your lifestyle, budget, and location preferences.

3. Local Market Expertise

• As a reputable real estate agency in Cambodia, we have an in-depth understanding of the local market in Phnom Penh.
• Our team of experienced agents possess extensive knowledge of the city's neighbourhoods, rental trends, and market dynamics.
• Leveraging our expertise, we can provide valuable insights and advice to help you make informed decisions about renting an apartment in Phnom Penh.

4. Lease Agreement Assistance

• Navigating the lease agreement process can be complex, especially in a foreign country. We simplify this process by offering comprehensive lease agreement assistance.
• Our team will carefully review the terms and conditions of the lease, ensuring that your rights and interests are protected.
• They will guide you through the paperwork, making the entire process smooth and hassle-free.

Step-by-Step Guide on Renting an Apartment in Phnom Penh

Call a Property Expert > Tell your requirements > Finding the best rented properties available> Property visit and inspection > Negotiate and make an offer > Signing the rental agreement > Enjoy the Stay!

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Renting an apartment in Cambodia can be a smooth and straightforward process when you follow the right steps. Whether you're a first-time expat or a seasoned resident, understanding the rental process is crucial for finding your ideal home. By following these steps, you can navigate the rental process with confidence and ensure a successful and hassle-free experience.

Step 1- Call a Property Expert

• The first step is to get in touch with a reputable real estate agency in Cambodia, such as IPS Cambodia.

Step 2- Tell Your Requirements

• During the call, discuss your requirements for renting an apartment. Share important details such as preferred location, budget, desired amenities, and any specific preferences you may have.
• Be clear about the number of bedrooms, preferred size, desired facilities, and any other specific features you are looking for in an apartment.
• The more detailed you are, the better the agency can match your needs with the available properties in their database. As this initial conversation helps the agency understand your needs and narrow down the search for suitable rental properties.

Step 3- Finding the Best Rented Properties Available

• Based on the information you provide, the real estate agency will search their extensive database to find the best rental properties in Phnom Penh that match your criteria.
• They will present you with a selection of available apartments that meet your requirements, saving you time and effort in the search process.

Step 4- Property Visit and Inspection

• Once you have shortlisted a few options, the next step is to schedule property visits.
• The real estate agency will arrange appointments for you to visit the apartments in person.
• During the visits, carefully inspect the property, paying attention to the overall condition, amenities, and any specific features you desire.
• Take note of any potential maintenance issues or necessary repairs.

Step 5- Negotiate and Make an Offer

• If you find an apartment that meets your expectations, it's time to negotiate the terms and make an offer.
• Work closely with the real estate agency to determine a fair rental price and any additional terms or conditions you may require.
• The agency will facilitate the negotiation process, acting as an intermediary between you and the property owner.

Step 6- Signing the Rental Agreement

• Once the terms have been agreed upon, the next step is to sign the rental agreement. Be ready with all the documents required for signing the agreement, such as identity proof, proof of income, etc.
• The real estate agency will provide you with the necessary paperwork, including the property lease agreement and any additional documents required by law.
• Carefully review the agreement, ensuring that all the agreed-upon terms are included before signing. Seek clarification on any points that may be unclear or require further explanation. Be aware of the legal considerations when renting an apartment in Phnom Penh.
• These might vary for ex-pats and locals. Consult with your attorney for more clarity. 

Step 7- Moving and Settling In

Moving to a new apartment can be an exciting time. There is a lot to do to prepare for the move and settle into your new apartment.

Moving Services

• If you are moving a long distance or have a lot of furniture, consider hiring a moving company.
• Some of the best moving services in Phnom Penh are AGS International Movers, Asian Tigers, MRB Trucking, etc.

Here are some tips for a smooth moving process:

• Request a price from your chosen moving company and schedule your relocation.
• Ensure you have all the essential paperwork for customs clearance, especially if you're moving internationally.
• Before packing, sort and tidy your stuff to eliminate redundant items.
• To make unpacking easier, neatly label your boxes.
• Consider obtaining insurance for your valuables when moving.

Setting Up Your New Apartment

Once you have moved into your new apartment, there are a few things you need to do to set it up. Here are a few tips:

• Change the locks on the doors.
• Set up your utilities, such as electricity, water, and gas.
• Connect your internet and cable TV.
• Unpack your belongings and organise your new space.
• Decorate your new home to make it feel like your own.

Community Integration

• After you've settled into your new home, you might want to get engaged in the community.
• Respect local traditions and learn about Cambodian customs and culture.
• Joining a local club or group, volunteering, or attending community events are all great ways to get engaged.

Step 8- Property Management Services Post renting

• Contact Property Management Services post-renting to ensure the maintenance and upkeep of their rented space, address safety and security concerns, request additional services, clarify lease-related matters, seek assistance with general inquiries, manage community issues, and provide feedback. 

Step 9- Maintenance and Repair

• If you have a maintenance or repair issue, report it to the management team as soon as possible. The management team will then send a maintenance worker to fix the problem.
• The time for resolution will vary depending on the severity of the issue. The management team will provide you with an approximate time period for when the problem will be resolved.
• IPS Cambodia can make your renting journey easy. Explore our available listings today! Discover the perfect place to call home by browsing through our selection of apartments.
• Are you looking for more information or ready to book a viewing? Don't hesitate to get in touch with us. Fill out our easy-to-fill inquiry form, and we'll ensure a quick response to assist you in your apartment search.

Step 10- Enjoy the Stay!

• Congratulations! With the rental agreement signed and all necessary formalities completed, you can now enjoy your new apartment in Cambodia.
• Move in, make yourself at home, and take advantage of the amenities and features that attracted you to the property.

Should any issues arise during your stay, contact the real estate agency for assistance and support.