Phnom Penh Real Estate and Luxury. A dreamy doorway into modern Phnom Penh

Luxury Real Estate

Phnom Penh Luxury Real Estate
Phnom Penh Luxury Real Estate

Phnom Penh Luxury Real Estate has evolved rapidly along with Cambodia. According to new Century 21 Cambodia chairman Richard Davidson, the high-end neighborhood of Tuol Kork is on track to becoming Phnom Penh’s second Central Business District. Prices have certainly risen, commanding $3,500 per square meter, nearly double from $1,850 sqm in 2018.

Yet for Condos, 2021 is a Buyer’s Market Overall

While hot pockets of Phnom Penh will continue to see price increases, the condo market is generally considered a buyer’s market due to the global pandemic reducing travel. If you’re looking for a good deal, Sen Sok offers the lowest median sale price for a condo unit as of January 2021. According to, the median sale price in Sen Sok is $95K. Daun Penh saw an 8% decrease in median sale price to $120K. Yet, Chamkarmon and Boeung Keng Kang both saw price increases of 5% to a median sale price of $158K. These two areas of Phnom Penh are popular due to it’s mix of both affordable and high-end units and it’s proximity to a wide variety of retail locations.

Why Prices Will Continue to Rise

Despite the downturn in the luxury property market as a result of covid, the long term trends for Phnom Penh’s luxury real estate market is secure. Much of it has to do with the ASEAN region’s growth as a manufacturing hub, as companies look to diversify beyond China to reduce costs. This has in turn brought in entrepreneurs and their families to Phnom Penh and internationally-minded luxury property developers have begun catering to them. Top tier architectural and design firms from prestigious companies in Japan, Singapore and South Korea have begun offering wealthy residents worldclass options in desirable locales such as Koh Pich and central Phnom Penh.