Sihanoukville Condo Market Trends 2025

As of 2025, the Sihanoukville condo market is beginning to rise again, with several new residential projects launching in the region this year after a hiatus on new buildings in the city for several years prior. This new growth in the condo sector comes following a dramatic boom and gloom story for the coastal city over the previous decade.

Similarly to Phnom Penh, Cambodia’s coastal city of Sihanoukville underwent a swift transformation between the years of 2016 and 2021, driven largely by Chinese investments in the city’s’ entertainment, industrial and real estate sectors.

Driving Sihanoukville’s growth in this period was an ease of starting licensed casino operations in the city, as well as ongoing industrial manufacturing investments – given the location’s strategic proximity the Cambodia’s only deep-sea container vessel port, the Sihanoukville Autonomous Port (PAS), as well as several large-scale and purpose build manufacturing and free trade zones (Special Economic Zones or SEZs).

What was once a sleepy tourism location targeted by backpackers and locals, quickly grew into a bustling trade and entertainment hub dominated by Asian regional businesspeople and investors. During this period of change, the city also grew upwards, shifting from a predominantly low-rise market to having a high-rise skyline like that found in downtown Phnom Penh.

However, with limitations on gaming licenses coming into effect in the early 2020s, as well as the onset of the Covid-19 travel restrictions, the city saw an exodus of many Chinese and regional investors, especially those involved in the gaming sector. This led to the abandonment of many partially completed high-rise buildings in Sihanoukville – some of which remain abandoned in the city still in 2025.

In recent years, the Cambodian Government have however offered various incentives for incoming investors and developers to take on unfinished buildings in the city, and this has led to positive inflows of new redevelopment capital into the city and a reduction in unused buildings.

Sihanoukville also underwent dramatic infrastructural development over the previous decade. A $2 billion project to construct the Phnom Penh – Sihanoukville Expressway Project was completed and open for use in March 2023, for instance. With the new expressway, those looking to travel from Phnom Penh to Sihanoukville can now make the trip in just over 2 hours (previously the journey took around 5 hours).

Along with connectivity to the capital, Sihanoukville’s internal roads were also renovated and expanded during previous years and now offer some of the best urban transport infrastructure nationwide. Similarly, connecting travel services to nearby islands has improved dramatically, and the region has also seen various improvements to the Sihanouk International Airport.

Beaches were cleaned and improved during this period, with sewerage systems being renovated to avoid any pollution to the city’s surrounding waters. Beachside stalls and businesses were also cleared from the beaches during the city’s recent development to preserve the coast’s untouched charm.

The development of the city is ongoing as of 2025, and the Cambodian Government has announced plans to invest nearly $1 billion additional funds to develop Sihanoukville into a major regional logistics hub by 2029. This investment aims to bolster the city’s infrastructure more so, including the expansion of the Sihanoukville Autonomous Port, which is set to become a key regional port and logistics center.

Given the pristine beaches of Sihanoukville, and the proximity to Cambodia’s offshore island archipelago, the city has also attracted luxury hotel brands from around the world, and this trend continues in 2025.

The recent launch of the TUI BLUE Sihanoukville Hotel, for instance, will be managed by Germany’s TUI Group. IHG Hotels & Resorts has also announced the launch of the InterContinental Hotel Sihanoukville, which is due to open doors to guests as soon as 2028.

Novotel Hotels, Suites & Resorts, an Accor brand hotel, launched the 215-key Novotel Sihanoukville Holiday Resort in February 2024, located along Independence Beach. Other established brand operators on the islands off the coast of Sihanoukville include Song Saa Island, Koh Russey resort by Alila Hotels & Resorts, and Six Senses Krabey Island. These are just a few of the international hotel operators that have already staked their claim in Sihanoukville, and many more are expected to join the line up in the coming years.

As of 2025, the city’s reputation is returning to its former glory. Tourists, both local and international, are returning to the city; along with property investors looking for affordable seaside residences.

Sihanoukville Condo Market Pricing and ROI Analysis 2025:

Sihanoukville offers a range of strata titled condominium options open to foreign investors, and the province currently offers the most affordable starting prices for new development buyers nationwide. However, given an oversupply of units following a sharp boom in investment in recent years, rental return prospects in Sihanoukville are not as predictable as in cities such as Phnom Penh or Siem Reap. Nonetheless, for investors seeking beachside residences on a pristine coastline and the potential for strong long-term asset appreciation, Sihanoukville offers a great investment destination.

High End Condominiums in Sihanoukville: 

The high-end condo market represents around 40% of the available stock Sihanoukville-market wide.  

High quality condominium projects, with expansive common areas and facilities, generally range from $1400 to $2500 per net square meter, depending on the development’s location, unit quality and completion status. Off-plan projects offer more competitive prices than those which are 100% complete and ready to occupy.  

The average net return on investment from rental returns for high end condominiums in Sihanoukville ranges from 5 to 7% per annum. However, these returns are highly speculative based on factors such as initial sales price, location, quality of management and amenities within the project, and the unit’s interior design features. 

To achieve such returns, it’s extremely important to only consider purchasing high-end condominium units from developers or reselling owners with a clear track record of strong rental returns within the project or previously completed projects, and a price per square meter selling price which is relative to these projected or real annual returns.  

Mid-Range Condominiums in Sihanoukville:

The mid-range condo segment accounts for upwards of 40% of the stock in the Sihanoukville condos market.  

Mid-range residential condominium units in central locations average around $1000 to $1400 per square meter, depending on in-building amenities. Prices are naturally lower for mid-range offerings in outer suburbs of the city where land prices are more affordable for developers. Again, off-plan purchases will achieve lower prices per square meter than buying in established and completed projects.  

Mid-range condominiums demonstrate rental returns of around 4% to 6% per annum, again depending on surrounding factors. Due to a larger supply of mid-range condominiums on the market, rental returns are not as attractive as those found in the high-end segment of the market.

Low-Range Condominiums in Sihanoukville:

‘No-Frills’ condominiums with strata titles in Sihanoukville represent around 20% of the overall stock in the market.  These types of projects consist of basic units, sized between 25 to 70 square meters net, often with total unit values under $100,000. Hence, prices per net square meter range from $700 to $1000.  

Rental returns in the low-range condominium sector range from 4% to 5% percent per annum, again depending on surrounding factors. Due to increasing supply in this sector and targeting towards local Cambodian-renter financial capacities, rental returns are not as high as in the more premium segments.  

Ready to stake your claim in Cambodia’s burgeoning real estate sector?

Check out our top condo picks in Sihanoukville:

Time Square 10 Ocean View, Otres Beach 1, Sihanoukville

Or contact the IPS team today and let us know your precise requirements!