Cambodia Property Prices per sqm 2026

A 35 sqm studio in a Class B high-rise in Phnom Penh costs around $52,500 today. That is less than a comparable apartment in many Western European cities, and gross rental yields can reach 8%. Cambodia remains one of the most affordable real estate markets in Southeast Asia - but affordability does not mean uniformity. Price gaps between Phnom Penh districts, coastal Sihanoukville, and tourist-driven Siem Reap can exceed 300%.

This article is based on transaction data from Q1 2026, along with reports from CBRE Cambodia, Knight Frank, and the National Bank of Cambodia (NBC). All prices are quoted in USD. Cambodia operates a heavily dollarized economy - over 80% of real estate transactions are conducted in US dollars - which eliminates currency exposure to the local riel (KHR) and makes returns directly comparable to other international markets.

Quick answer

Phnom Penh, BKK1 district (premium): $3,200 - $4,500 per sqm for completed condominiums with full freehold (hard title)
Phnom Penh, Chamkarmon and Toul Kork: $1,800 - $2,800 per sqm for new developer projects
Phnom Penh, Sen Sok and Chroy Changvar (outer districts): $1,200 - $1,700 per sqm - lowest entry thresholds
Sihanoukville, central and beachfront zones: $1,500 - $2,500 per sqm, with limited resale liquidity
Siem Reap: $1,000 - $1,800 per sqm - boutique market, predominantly leasehold
Gross rental yields: 6 - 9% in Phnom Penh, 4 - 6% in Siem Reap, 3 - 7% in Sihanoukville (with strong seasonality)
For context: Bangkok's Sukhumvit runs $4,500 - $7,000 per sqm; Phuket beachfront locations reach $4,000 - $8,000 per sqm

Options and scenarios

Option 1: Phnom Penh studio for long-term rental income

An investor purchases a 35 sqm studio in a new development in Chamkarmon at $1,900 per sqm, giving a total purchase price of $66,500. Transaction costs include a property transfer tax of 4% of the assessed value (typically split with the developer on off-plan purchases) and notary fees of approximately $300 - $500. The realistic all-in entry budget is around $69,000 - $70,000.

Monthly rent for an expat tenant in this location: $550 - $650. Using a conservative average of $600 over 11 months of occupancy, gross annual income equals $6,600. Gross yield: $6,600 divided by $66,500 equals 9.9%. After deducting property management fees (10%), Cambodia withholding tax on rental income for non-residents (a flat rate of 14% on gross income, though smaller landlords often use the simplified 'patent tax' system), and minor maintenance, net yield settles at approximately 5.5 - 6.5%. That is roughly double the net rental yields available in most major European cities.

An important tax note for international investors: rental income earned in Cambodia may also be taxable in your country of residence, depending on your local tax rules. Investors should verify their obligations with a qualified tax advisor before committing.

Option 2: Premium BKK1 condominium for capital appreciation

The BKK1 district (Boeung Keng Kang 1) is Phnom Penh's equivalent of Bangkok's Thonglor - home to embassies, international schools, and the expat dining scene. New project prices range from $3,800 to $4,500 per sqm. A 55 sqm unit costs $209,000 - $247,500. Gross rental yields here are lower at 5 - 6%, but historical capital appreciation in this submarket averaged 5 - 8% annually between 2018 and 2024. This is a capital growth play rather than a cash flow strategy.

Key risk: BKK1 valuations are correlated with Chinese capital inflows. After a post-pandemic decline, Chinese demand began recovering in 2025. If that momentum holds, fundamentals are solid. If it reverses, a correction of 10 - 15% is a realistic scenario.

Option 3: Sihanoukville as a contrarian position

The city experienced a Chinese-casino-driven boom from 2017 to 2019, followed by a sharp correction. Prices fell as much as 40% from peak levels. In 2026, stabilization signals are emerging: a new expressway from Phnom Penh (reducing travel time from 6 hours to 3.5 hours), port expansion, and a government campaign to clean up the gambling sector. Current prices in the $1,500 - $2,000 per sqm range could represent genuine value over a 5-year horizon - but liquidity remains thin. A credible exit strategy requires patience and a minimum 7-year investment horizon.

Comparison table

Parameter	Phnom Penh (Chamkarmon)	Phnom Penh (BKK1)	Sihanoukville	Siem Reap
Price per sqm (USD)	$1,800 - $2,800	$3,200 - $4,500	$1,500 - $2,500	$1,000 - $1,800
Typical unit size (sqm)	35 - 65	45 - 120	40 - 80	30 - 60
Entry budget (USD)	$63,000 - $130,000	$144,000 - $350,000	$60,000 - $150,000	$30,000 - $80,000
Gross rental yield	7 - 9%	5 - 6%	3 - 7%	4 - 6%
Resale liquidity	Moderate	High	Low	Low
Freehold ownership for foreigners	Yes (from 1st floor up)	Yes (from 1st floor up)	Yes (from 1st floor up)	Limited
Primary tenant profile	Expats, NGO staff	Diplomats, executives	Tourists, casino workers	Tourists, hospitality staff
Oversupply risk	Moderate	Low	High	Low

Ownership structures - what foreign buyers can legally hold

Cambodia's Foreign Ownership Act (2010) permits non-residents to purchase residential and commercial units in multi-storey buildings from the first floor upward, with full freehold title (hard title / strata title). Foreign ownership within any single building is capped at 70% of total floor area.

Direct land ownership by foreigners is prohibited by law. Two workarounds exist: a leasehold arrangement for up to 50 years (with an option to extend for a further 50 years), or a Cambodian company structure using a local nominee shareholder. The nominee company route carries meaningful legal risk - Cambodian courts may challenge the validity of a nominee arrangement. The recommendation for foreign investors is clear: purchase only condominiums with hard title, or negotiate a long-term leasehold directly with a credible landowner.

Risks and mistakes

1. Oversupply in Sihanoukville. According to CBRE Cambodia data, the city has multiple unfinished tower projects. Some will never be completed. Buying off-plan in Sihanoukville from an unknown developer is speculation, not investment.

2. Developer track record. Cambodia has no equivalent of a state-backed buyer protection fund. Deposits paid during the construction phase (off-plan) are not protected by any government mechanism. Purchase only from developers with completed, delivered projects - ideally those listed on the Phnom Penh Stock Exchange or backed by Japanese or Singaporean capital.

3. Secondary market liquidity. Phnom Penh is not Bangkok. Selling a resale unit can take 6 - 18 months. When modeling IRR, factor in at least 12 months for exit.

4. Withholding tax on rental income. Non-residents are subject to a 14% withholding tax on gross rental income in Cambodia. Investors should also verify their tax obligations in their home country, as a tax treaty with Cambodia may not exist.

5. Title due diligence. Cambodia operates two title systems: hard title (registered with the Ministry of Land Management) and soft title (recognized only by local authorities). For foreign buyers, only hard title is acceptable. Always verify title through an independent local lawyer with proven experience advising international clients before signing any agreement.

6. USD currency exposure. While transactions in Cambodia are conducted in US dollars - eliminating riel risk - investors holding home-country currencies (EUR, GBP, etc.) remain exposed to USD exchange rate fluctuations. Dollar strengthening benefits returns in local currency terms; dollar weakness reduces them.

FAQ

How much does property cost per sqm in Phnom Penh in 2026?

Prices range from $1,200 per sqm in outer districts such as Sen Sok and Chroy Changvar, up to $4,500 per sqm in premium BKK1. The mid-range segment averages $1,800 - $2,500 per sqm.

Can foreigners legally buy property in Cambodia?

Yes. Foreign nationals can purchase units in multi-storey buildings from the first floor upward with full freehold title (hard title). Direct land ownership is prohibited. Alternatives are leasehold for up to 50 years or a Cambodian company structure.

What are the transaction costs when buying property in Cambodia?

The property transfer tax is 4% of the assessed value. Add notary fees ($300 - $500) and legal fees ($500 - $1,500). Total transaction costs are approximately 4.5 - 6% of the purchase price.

Is rental income from Cambodia taxable?

Yes. Non-resident landlords pay a 14% withholding tax on gross rental income in Cambodia. Smaller property owners sometimes use the simplified patent tax system. Investors should also consult a tax advisor in their home country regarding any additional obligations.

How do Cambodia property prices compare to Thailand?

Cambodia is approximately 40 - 60% cheaper. A $2,000 per sqm unit in Phnom Penh is broadly comparable in quality to a $4,500 - $5,500 per sqm unit in Bangkok. Thailand offers considerably higher resale liquidity and a more mature secondary market.

What is the minimum budget to invest in Cambodian real estate?

A 30 sqm studio in an outer Phnom Penh district (Sen Sok) can be purchased for around $36,000 - $51,000. Including transaction costs, a realistic all-in entry budget starts at approximately $40,000 - $55,000.

Are property prices in Cambodia rising?

In Phnom Penh, mid-range prices appreciated at an average of 3 - 5% annually between 2022 and 2025. BKK1 saw stronger growth of 5 - 8% per year. Sihanoukville prices remain below 2019 peak levels but have begun to stabilize in 2026.

Why are Cambodia property transactions done in US dollars?

Cambodia operates a heavily dollarized economy. Over 80% of real estate transactions are conducted in USD. This eliminates currency risk tied to the local riel (KHR) and makes returns directly comparable to other international markets.

How long does it take to sell a property in Cambodia?

On the secondary market, selling a unit typically takes 6 to 18 months depending on location and price point. BKK1 offers the highest liquidity. Sihanoukville and Siem Reap resale timelines can extend well beyond 12 months.

Which Cambodia location offers the best rental yields in 2026?

Phnom Penh's mid-range districts (Chamkarmon, Toul Kork) offer the best risk-adjusted yields: 7 - 9% gross with moderate liquidity. BKK1 yields 5 - 6% but with stronger capital appreciation potential. Sihanoukville and Siem Reap carry higher risk and lower liquidity.

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Cambodia Property Prices per sqm in 2026: From $1,200 to $4,500