Phnom Penh: Known As the Pearl Of Asia
IPS Cambodia, a renowned real estate company in Phnom Penh, specializes in providing high-quality serviced apartments, showcasing their expertise in the Cambodia real estate property market. The Cambodian real estate market is set to grow by US$545 billion in 2023 due to robust economic growth and an expanding population.
Key trends include the rise of the middle class, rapid urbanization, and a thriving tourism sector. Expected 7% economic growth by 2024, increased foreign investments, and government infrastructure initiatives are beneficial for real estate. Despite COVID-19 challenges, successful vaccination drives and eased travel restrictions indicate market recovery, further defining the Phnom Penh changing rental market.
Serviced apartments, known for their modern amenities and secure environments, are highly sought-after. This page is tailored for those seeking to rent serviced apartments in Phnom Penh, providing contemporary living spaces in this bustling city.
What are the top 3 reasons to rent Service Apartments in Phnom Penh?
Convenience, comfort, and security are the hallmark features of serviced apartments in Phnom Penh. With convenient amenities such as on-site laundry, housekeeping services, and 24-hour security, these accommodations guarantee a hassle-free living experience. Moreover, their central locations facilitate easy commuting within the city.
Here are the top 3 reasons to rent an apartment in Phnom Penh -
#1 - Convenience
- Serviced apartments in Phnom Penh offer unparalleled convenience with amenities like on-site laundry, housekeeping, and 24-hour security.
- Their central locations simplify commuting around the city.
#2 - Comfort
- These apartments are designed for comfort, featuring modern furnishings, spacious layouts, and top-notch amenities.
- Some even provide additional services such as in-room dining and spa treatments for a relaxing living environment.
#3 - Security
- Serviced apartments prioritize security, equipped with secure entry systems, CCTV surveillance, and on-site security personnel.
- Added features like safes and fire alarms further ensure residents safety.
Go through our property security tips to find out all the pointers related to security to check for when renting a service apartment in Phnom Penh.
Advantages of Choosing a Serviced Apartment Over a House for Rent in Phnom Penh
Staying in a serviced apartment offers a multitude of advantages, setting it apart from renting a house in Phnom Penh. These are tailored to meet the diverse needs of travelers, business executives, and long-term guests, providing an exceptional living experience that surpasses the offerings of a traditional rented house.
Tailored Services
- Serviced apartments offer a personal touch with specialized services like concierge assistance, dedicated staff for individual requests, and round-the-clock reception, ensuring a personalized and memorable stay.
Comfort and Space
- Unlike the confined spaces of a hotel room or a typical rented house, serviced apartments provide a spacious layout, including separate living areas, creating a homely and relaxing environment for guests.
Flexibility
- Guests have the freedom to manage their routines with amenities such as laundry facilities, kitchen spaces for home-cooked meals, and the liberty to invite guests or conduct business meetings at their convenience.
Cost-effectiveness
- With inclusive rates covering utilities, housekeeping, and a range of amenities, serviced apartments offer a budget-friendly choice, avoiding hidden costs associated with traditional rental properties.
Convenience and Flexibility
- Booking a serviced apartment is hassle-free with minimal procedures and a straightforward online reservation system, offering more flexibility for extended stays and changes in travel plans.
Privacy
- Serviced apartments provide a private and serene living space, allowing guests to manage their housekeeping schedules and minimize interruptions during their stay.
Customized Needs Catered
- Ideal for long-term guests, business travelers, and corporate relocations, serviced apartments adapt seamlessly to unique requirements, offering a dynamic alternative to traditional houses for rent.
What is the standard of living in Phnom Penh?
Assessing the cost of living in Cambodia and the cost of living in Phnom Penh involves evaluating various cost aspects and amenities, which display a mixed balance of affordability and comfort. Alongside the quality of life aspects, statistical figures by Numbeco.com illustrate the city's economic dynamics and affordability compared to other places like India.
Cost Estimations
- For a family of four, the estimated monthly costs in Phnom Penh, excluding rent, amount to approximately 187,237.9₹ (2,246.1$), while for a single person, it stands at 53,331.5₹ (639.8$).
- These estimations showcase the general expenses individuals or families might incur in the city.
Economic Progress
- Phnom Penh has made notable strides in enhancing its standard of living.
- This improvement is attributed to robust economic growth and increased incomes.
- Despite these advancements, Phnom Penh still trails behind numerous other Southeast Asian cities in terms of overall living standards.
However, it's essential to assess various aspects to understand the overall quality of life in the Cambodian capital.
Cost of Living
- Phnom Penh boasts a relatively affordable cost of living, particularly in terms of housing and daily expenses.
- For instance, renting a one-bedroom apartment in central areas averages between $300 to $500 monthly, while dining at mid-range restaurants costs around $10 per meal.
Housing
- Housing remains a significant expense, yet it presents diverse options from phnom penh apartments for rent to villa for rent in phnom penh.
- The average monthly rent for a one-bedroom apartment in central locations hovers around $350.
Food
- With numerous affordable dining options, eating out in local restaurants may cost around $5 per meal, while street food stalls offer budget-friendly options starting from as little as $1.
Transportation
- The city offers relatively economical transportation with tuk-tuks and buses being common modes of travel.
- A tuk-tuk ride typically costs about $1, while buses charge approximately $0.50 per ride.
Don't skip our handy guide on transportation in Cambodia.
Healthcare
- Healthcare is reasonably priced, with a mix of public and private healthcare facilities available in the city.
- While the quality varies, healthcare services are gradually improving.
Need to know more about expat healthcare in Cambodia? Our experts have got your back with extra details!
Education
- Education costs are relatively affordable, with both public and private schools available in Phnom Penh.
- The quality of education varies but is on an upward trajectory.
Explore the advantages of living near educational hubs in Phnom Penh.
Overall Outlook
- Phnom Penh's standard of living has notably progressed in recent years due to economic growth.
- However, it still trails behind other Southeast Asian cities.
- The city's improvement trajectory suggests a promising future with ongoing enhancements across various aspects of daily life.
- Phnom Penh offers a reasonably comfortable lifestyle at a lower cost compared to many other regional cities, providing a balance between affordability and amenities.
Serviced Apartment Characteristics and Avg Rent offered by IPS Cambodia
Serviced apartments provided by IPS Cambodia in Phnom Penh possess distinct features and conveniences catering to the preferences of expatriates and local residents. These apartments boast several key characteristics:
Fully Furnished
- Serviced apartments are typically fully furnished with modern furniture and appliances, facilitating a hassle-free move-in experience without the need to purchase additional furniture or appliances.
Housekeeping Services
- Residents of serviced apartments benefit from included housekeeping services, alleviating concerns about maintaining the cleanliness of their living spaces.
Security Measures
- Security is prioritized in serviced apartments, often equipped with round-the-clock security guards and CCTV cameras, ensuring a safe and secure living environment.
Amenities
- These apartments offer a plethora of amenities like swimming pools, fitness centers, and business facilities within the apartment complex, providing residents with diverse recreational options.
Rent Estimations
- The average rent for a one-bedroom serviced apartment in Phnom Penh typically ranges between US$500 and US$2,000 per month.
- However, this can vary based on factors such as apartment size, location, and available amenities.
Considerations when Choosing
- Factors to bear in mind while selecting a serviced apartment include location proximity to work or school, apartment size suitability, essential amenities, and aligning the budget with rental expenses.
IPS Cambodia stands out as a leading real estate agency in Phnom Penh, specializing in offering a wide array of serviced apartments. Their expertise assists individuals in finding the most suitable serviced apartment tailored to their requirements.
When searching for a serviced apartment, conducting thorough research and partnering with a reputable real estate agency like IPS Cambodia is crucial. We have a commendable track record in guiding expatriates and locals to find their ideal serviced apartments.
Furthermore, certain considerations such as lifestyle suitability in specific areas of Phnom Penh, proximity to international schools, shopping facilities, and family-friendly zones should be checked upon. IPS Cambodia's expertise and extensive inventory ensure finding the perfect serviced apartment in Phnom Penh, catering to various needs and preferences.
Popular Areas to Rent Serviced Apartments in Phnom Penh
Boeung Keng Kang (BKK 1)
- Located at the city's core, BKK 1 is Phnom Penh's central business district, housing numerous multinational companies, government offices, and upscale dining spots.
- Excellent public transport connections make it a convenient residential choice.
Chamkar Mon
- Chamkar Mon encompasses diverse neighborhoods like BKK 1, Tonle Bassac, and Toul Tum Poung, appealing to expats and locals.
- It offers a range of serviced apartments, from budget-friendly to luxurious high-rises.
Tonle Bassac
- Trendy Tonle Bassac boasts art galleries, cafes, and boutiques.
- It's a preferred neighborhood for expats, with several serviced apartments within walking distance from the riverfront.
Toul Tum Poung
- A tranquil residential area north of BKK 1, Toul Tum Poung is graced by parks and green spaces, offering a few options for serviced apartments.
Boeung Trabek
- Situated south of BKK 1, Boeung Trabek hosts various businesses, restaurants, and hotels, featuring a handful of serviced apartment options.
Olympic
- West of BKK 1 lies Olympic, home to the popular Olympic Stadium, frequently hosting sports events and concerts.
- Several serviced apartments are also available in the vicinity.
Daun Penh
- Daun Penh, Phnom Penh's historic heart, is famous for landmarks like the Royal Palace and the National Museum. Its accessibility via public transport makes it an attractive living choice.
Khan 7 Makara
- Khan 7 Makara covers areas including the airport and the Russian Market, offering a mix of expat-friendly residences and varied serviced apartments.
Toul Kork
- A residential neighborhood just north of Daun Penh, Toul Kork boasts green spaces and parks, hosting a few serviced apartment options.
Meanchey
- Meanchey, incorporating the airport and the Olympic Stadium, provides various serviced apartment options for both locals and expats.
Russey Keo
- South of BKK 1, Russey Keo is home to factories and warehouses, offering a few serviced apartment choices in the area.
Sen Sok
- North of Phnom Penh, Sen Sok showcases new developments like malls and condominiums, featuring a handful of serviced apartments.
Por Senchey
- Located south of Sen Sok, Por Senchey accommodates factories and warehouses, with a few serviced apartments available.
Chbar Ampov
- West of Phnom Penh, Chbar Ampov houses new developments like shopping malls and condos, presenting a few serviced apartment options.
Each area offers distinct characteristics and amenities, catering to various lifestyles and preferences, making them ideal for renting serviced apartments in Phnom Penh.
Delve into the Richness of the Phnom Penh Area with Our Detailed Guide.
How IPS Cambodia Can Help to Rent a Serviced Apartment in Phnom Penh?
As a premier real estate agency, IPS Cambodia excels in facilitating individuals and families in securing their ideal serviced apartments in Phnom Penh. Leveraging our extensive experience and profound knowledge of Phnom Penh's real estate market, we are dedicated to delivering exceptional customer service. Here's how we can assist you in finding the perfect serviced apartment:
Extensive Listings of Serviced Apartments
- Our website hosts an extensive and regularly updated inventory of serviced apartments available for rent in Phnom Penh.
- From cozy studio apartments to spacious family units or luxurious penthouse for rent, our comprehensive listings cater to various preferences, needs, and budget constraints.
Personalized Consultation
- We understand that browsing listings is just the starting point.
- Our team of expert agents provides personalized consultations, taking the time to comprehend your specific requirements.
- This enables us to offer tailored advice and identify serviced apartments that align with your desired location, budget, and lifestyle.
Local Market Expertise
- Drawing from our in-depth understanding of Phnom Penh's rental market dynamics and neighborhood nuances, we offer invaluable insights.
- Our proficiency in the local market empowers us to guide you in making informed decisions when selecting a serviced apartment.
Viewings and Negotiations Support
- Once you've shortlisted potential serviced apartments, we arrange viewings at your convenience.
- Our experienced agents accompany you during viewings, providing expert insights and addressing any queries.
- Furthermore, we assist in negotiating favorable lease terms to secure the best possible deal for you.
Lease Agreement Assistance
- Navigating lease agreements, especially in a foreign environment, can be complex.
- We simplify this process by providing comprehensive support on lease and sale services.
- Our team reviews lease terms to safeguard your interests and handles all necessary paperwork, ensuring a smooth and hassle-free experience.
Post-Rental Support
- Our commitment extends beyond the rental process.
- We offer top-notch post-rental support to address any issues or concerns during your tenancy period.
- Our dedicated team is readily available to assist with maintenance requests, utility setups, or any general queries, ensuring a seamless rental experience in Phnom Penh.
Learn about our expert recommendations for finding properties to rent or purchase with IPS Cambodia.
Step-by-Step Guide on Renting a Serviced Apartment in Phnom Penh
Renting a serviced apartment in Phnom Penh is simplified with the expert guidance of IPS Cambodia. Follow these outlined steps for a smooth renting experience:
Step 1 - Connect with a Property Expert
- Reach out to IPS Cambodia, a reputable agency, to discuss your serviced apartment rental requirements.
- Share your preferences for location, budget, and specific amenities.
Step 2 - Define Your Requirements
- Specify the number of rooms, desired features, and any particular preferences for your serviced apartment.
Step 3 - Explore Available Serviced Apartments
- Based on your criteria, IPS Cambodia will present a selection of serviced apartments that match your needs.
Step 4 - Visit and Inspect Properties
- Schedule property viewings and inspect each serviced apartment, noting its condition, amenities, and the surrounding area.
Step 5 - Negotiate and Make an Offer
- If you find a suitable serviced apartment, negotiate the terms.
- IPS Cambodia will assist in securing favorable lease conditions.
Step 6 - Finalize the Rental Agreement
Before signing the rental agreement, ensure the following:
- Required Documents for Renting:
- Valid identification (passport for expats, ID card for locals)
- Proof of income or employment
- References from previous landlords or employers
Legal Considerations
For expats
- Updates on laws related to foreign nationals renting in Cambodia, including government policies on foreign direct investment in cambodia and residency.
For locals
- Understanding legal obligations and rights as tenants.
Step 7 - Payment Processes
Understand the payment terms and conditions:
Payment Terms
- Rentals usually require monthly payments, sometimes accompanied by a security deposit.
Accepted Payment Methods
- Cash, bank transfer, and occasionally credit cards.
Financing Options
Information on local banking services and mortgage options if considering buying.
Step 8 - Moving and Settling In
A. Moving Services
Recommended Moving Companies
- Choose reliable companies known for professionalism and efficiency.
Checklist for a Smooth Moving Process
- Organize belongings, packing, and labeling, and ensure necessary documents for customs clearance if moving from abroad.
Consider our expertly curated tips for moving houses for a seamless transition.
B. Setting Up Your New Home
Utility Setup Guide
- Arrange for electricity, water, gas, and internet services upon moving in.
Decorating and Optimizing Space
- Personalize and maximize space with suitable furniture and storage solutions.
C. Community Integration
Introduction to Local Communities
- Familiarize yourself with neighborhood groups or events for community integration.
Navigating Cultural Norms
- Learn and adapt to local cultural and social norms for a smoother transition.
Step 9 - Property Management Services Post Renting
- Contact the management team for any property-related queries or concerns.
Step 10 - Maintenance and Repair
Process for Reporting Issues
- Know the procedure for reporting maintenance issues.
Expected Timelines for Fixes
- Understand the estimated timelines for resolving reported issues.
Explore listed serviced apartments by contacting IPS Cambodia through easy-to-fill inquiry forms for a prompt response.
Frequently Asked Questions
How are serviced apartments in Phnom Penh adapting to post-COVID travel and living trends?
In response to the evolving post-COVID landscape, serviced apartments in Phnom Penh have implemented stringent hygiene protocols and safety measures. Enhanced cleaning routines, regular sanitization of common areas, and contactless services are now standard. Many apartments offer flexible cancellation policies and long-term stay options to accommodate remote work or extended stays. Some have also integrated technologies to enable online check-ins, virtual tours, and digital payments to minimize physical contact.
Are there eco-friendly or sustainable serviced apartments available in Phnom Penh?
While Phnom Penh is progressively moving towards sustainability, eco-friendly serviced apartments are emerging. Some have adopted energy-efficient appliances, solar panels, and waste reduction practices. Several complexes utilize green construction materials and promote eco-conscious living through recycling programs, water conservation initiatives, and green spaces within the premises.
How do serviced apartments in Phnom Penh support remote work or digital nomad lifestyles?
Recognizing the shift towards remote work, serviced apartments in Phnom Penh offer high-speed internet, dedicated workspaces, and ergonomic furniture suitable for remote work setups. Some provide co-working spaces, meeting rooms, and networking opportunities, fostering a conducive environment for digital nomads seeking a balance between work and leisure.
What wellness and health amenities can be found in Phnom Penh's serviced apartments?
Serviced apartments in Phnom Penh often feature fitness centers, yoga studios, swimming pools, and wellness areas. Additionally, some offer wellness programs, spa facilities, and access to wellness professionals, promoting holistic health among residents.
Are there any co-living serviced apartments in Phnom Penh, and what do they offer?
Co-living serviced apartments in Phnom Penh provide shared living spaces with private rooms. They emphasize community living, offering communal kitchens, lounges, and social events. These spaces encourage interaction among residents and often provide networking opportunities or skill-sharing platforms.
Can guests in serviced apartments in Phnom Penh access local tour or travel services easily?
Many serviced apartments collaborate with local tour operators or have dedicated concierge services to assist residents in arranging tours, transportation, and exploring the city's attractions. These partnerships provide guests with convenient access to various travel services, ensuring an immersive experience of Phnom Penh.
How are serviced apartments in Phnom Penh integrating smart home technologies?
Several serviced apartments incorporate smart home technologies, including keyless entry systems, smart thermostats, and home automation for lighting and appliances. Some properties also feature voice-activated controls and mobile apps, allowing residents to manage home settings remotely.
What are the latest design trends in Phnom Penh's serviced apartments?
Recent design trends in serviced apartments in Phnom Penh lean towards modern and minimalist aesthetics, with an emphasis on functional spaces and natural lighting. Contemporary furnishings, open-plan layouts, and sustainable materials are prevalent, offering a blend of comfort and style.
Are there any serviced apartments in Phnom Penh that offer immersive local cultural experiences?
Certain serviced apartments curate cultural experiences by organizing workshops, cultural events, or local tours for residents to engage with Phnom Penh's heritage, art, or cuisine. They collaborate with local artisans, providing opportunities for guests to partake in traditional activities or learn about Cambodian culture.
How do serviced apartments in Phnom Penh facilitate community building among residents?
Serviced apartments host social gatherings, networking events, and communal spaces such as BBQ areas, lounges, or game rooms to encourage resident interaction. Some also organize community volunteering initiatives or hobby clubs to foster a sense of community among residents.
What are the unique challenges of managing a serviced apartment in Phnom Penh, and how are they addressed?
Challenges in managing serviced apartments in Phnom Penh include cultural diversity among residents, language barriers, and ensuring consistent service quality. Management teams mitigate these challenges through cultural sensitivity training, multilingual staff, and strict quality control measures.
How does the concept of luxury differ in serviced apartments in Phnom Penh compared to other global cities?
Luxury in Phnom Penh's serviced apartments is often defined by sophisticated amenities, spacious layouts, and personalized services. While it may not match the opulence of some global cities, it offers a unique blend of comfort, convenience, and affordability with a focus on modern living standards.
Are there any serviced apartments in Phnom Penh that cater specifically to senior guests or those with mobility issues?
Some serviced apartments in Phnom Penh cater to seniors or those with mobility concerns by offering accessible accommodations, such as wheelchair-friendly units, ramps, and elevators. These apartments prioritise safety features and accessibility throughout their premises.
How do serviced apartments in Phnom Penh keep up with the changing needs of the modern traveller?
To adapt to evolving traveler needs, serviced apartments in Phnom Penh continuously innovate by integrating technology, providing flexible accommodation options, offering extended-stay packages, and enhancing guest services to meet the demands of the modern traveller.
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