Toul Kork is district is quickly becoming an extension of the capital’s CBD. Often referred to as a “suburb,” this area focuses on family residences as well as business and retail. Buyers are flocking there for affordability, convenience and security. In fact, the area is projected to triple in size over the next decade.
Indeed, if you check out our latest consumer survey, you will find that Toul Kork placed sixth for highest demand in the capital.
This guide will show you what Toul Kork has to offer. We’ll touch on average prices in the district and show you all the amenities. Also, we will try to predict where the neighbourhood is headed over the next few years.
If you are looking for real estate in Toul Kork make sure to check out all of our listings. We’ve got everything from villas and condos to houses and commercial space. If you’re still shopping around, browse all of our location profiles and guides to all other parts of Cambodia.
Rising in the north
Driving through Toul Kork in past years, you might be fooled into thinking it was just countryside. As the city expands, however, we see more high profile projects in Toul Kork.
What was once the outskirts of the city is now a hub of activity. In particular, the area has seen many mixed-use projects pop up over the past few years. The Gateway, TK Avenue and Phnom Penh City Center (PPCC) are just a few.
Of course, we can’t forget about Aeon 2. The second outlet of the country’s most popular mall is right down the road in Sen Sok district. Sen Sok and Toul Kork are very much connected. They have a similar feel, too.
Picking a plot
Because development is pushing north from the centre of the city, many shop for land in Toul Kork. According to yearly numbers from Key Real Estate, land prices off smaller roads can average as low as $1,700 per square metre.
In high-traffic areas, however, land can go for over $5,000 per square metre. This might seem high, but it’s still less than half of what some plots are going for in nearby Daun Penh district.
Rents still low
Similar to land prices, rents are still low in Toul Kork compared to elsewhere in the city. Modest rooms can start at just $300 per month. Places with more rooms, near to main roads can go for up to $2,000 per month.
The district average for one-bedroom apartments currently sits around $500 per month, $700 per month for a two-bedroom and $1,000 for a three-bedroom.
Serviced apartments with full amenities will, on average, be slightly more expensive than traditional counterparts.
Coming of condos
If you’re keen on owning your own space, there are tons of condos in Toul Kork. Click over to our new developments page to see all the latest listings.
It seems people expect prices to rise further in the future so they are eager to own spaces.
Sorn Seap, the CEO of Key Real Estate, said the condo market is getting huge in Toul Kork. They could easily be broken down into three different tiers based on price, he said.
- Low-range condos are currently going for between $800 and $1,200 per square metre
- Mid-range places can be had for between $1,200 and $3,000 per square metre.
- High-end condos sit at the top, going for over $3,000 per square metre
Viva la villa
It can be easier to find a villa on the market in Toul Kork than in other places in the capital. Just like elsewhere, however, they are becoming rarer and more expensive here.
Previously, villas could be rented in Toul Kork starting at just $500 a month. But prices are on the rise.
“Prices of villa houses have increased from 5%-10% year-on-year. Average prices of villas range from $700,000 to $4 million,” Seap said.
Conversely, shophouses are currently going for as low as $200,000 on smaller roads. In high-traffic areas, they are going for between $600,000 and $800,000.
Bringing in boreys
Just like in other areas of the city with more affordable land, boreys are popular in Toul Kork. Many boreys are marketed towards the low and middle portions of the real estate market. Since land is affordable this can be a good option for new homeowners.
Travelling around TK
Toul Kork district has some of the best new roads in the capital. Luckily, living there means you can quickly get to the centre of town and back home. Russian Boulevard cuts right through Toul Kork, and Mao Tse Tung Boulevard runs north to south.
Interestingly, going for a stroll or a bicycle ride is easy in Toul Kork. The smaller paved streets are easy to navigate.
Some complain that traffic can be bad on the main roads. However, more and more businesses are setting up headquarters in Toul Kork. For this reason, living here is becoming more and more.
Drop the kids off
In addition to businesses, more and more schools are setting up shop in Toul Kork. In fact, most international schools in Phnom Penh have a branch there. American Intercon, Western International, Golden Gate and Paragon International University all have schools in the area.
As far as higher education, the Institute of Foreign Languages, Paññāsāstra University of Cambodia (PUC) and the Royal University of Phnom Penh are all within a few kilometres.
Also, Northbridge International School, one of the most well-known schools in the country, is right around the corner.
Food and fun
As the population grows, more and more restaurants, shops and entertainment centres are showing up in Toul Kork. There is, of course, TK Avenue. It boasts a cinema, a huge supermarket, as well as tons of international brands for food and shopping.
Aeon 2 Sen Sok City is right down the street, as well. Nearly every major brand in the country is represented there.
There is no shortage of cafes in Toul Kork. All the big names like Starbucks, Koi, Brown, Amazon and Chatime all have stores there.
Food options are nearly limitless. Local restaurants are on almost every road. Tons of international options are there too. It has some of the most Korean restaurants in the city. Seoul Myeon Ok Restaurant and Dae Jang Geum are a couple of the big names.
There’s Chinese and Japanese food, too. Try Dim Sum Emperors or Ajisen Ramen. And if you’re craving something American there’s even a Burger King.
Toul Kork has one main traditional market just north of Russian Boulevard and several other small wet markets. You never have to travel far if you want fresh produce and everyday goods.
There’s also Thai Huot and Lucky supermarkets for more Western-style shopping.
Suburb or centre?
Sure, Toul Kork is definitely more family-focused than the rest of Phnom Penh. And it’s a place where more affluent families are choosing to buy land, homes and condos.
Given how fast the neighbourhood is growing, however, it might soon be considered the heart of Phnom Penh. So, let us know what you think: Is Toul Kork a suburb or is it becoming part of the city centre?
Did you find this guide useful? Check out other great resources such as Location Profiles and Investor Guides on Realestate.com.kh now!