In our latest consumer survey, Sen Sok district showed the highest demand out of any area of Phnom Penh. Nearly 15% of capital buyers wanted to purchase property there. Did Aeon 2 Mall spark a new boom?
This guide will take you through everything you need to understand Sen Sok district. We’ll run through a few key types of real estate there. Of course, we will give you different price ranges for everything.
Read on and decide for yourself if Sen Sok district lives up to the hype.
On the outskirts
Sen Sok district was established in 2009. The land was formerly a part of Kandal province but became incorporated into the capital’s expansion.
The area is home to roughly 10% of Phnom Penh residents. Just like neighbouring district Toul Kork, many residents are relocating there to find more affordable land and property.
Until recently, the area was mostly residential and industrial. In the past two years, however, there have been some high profile commercial projects that seem to be kicking activity into high gear.
Aeon leads the way
Officially known as Aeon Mall Sen Sok City, the second location of the hugely popular Japanese shopping centre was inaugurated in June of 2018. It offers a massive 151,000 square metres of space inside. The $120 million complex has been known to draw nearly 100,000 customers on its busiest days.
More retail businesses, banks, schools and government offices have also opened operations in Sen Sok since Aeon 2 arrived. Most notable are Makro warehouse store and the Camko City complex.
Land in Sen Sok
Everyone has been eying land prices in Sen Sok since Aeon 2 arrived. There is still plenty of room for development. Land is quite cheap relative to more central districts of the capital.
According to data from Phnom Penh’s Key Real Estate, land on main roads in Sen Sok’s Phnom Penh Thmey and Teuk Thla communes is going for between $1,500 and $3,500 per square metre.
However, land off sub-main roads in those communes can be found for as low as $550 per square metre.
Prices are cheaper in Khmounh and Kraing Thnorng communes, where land off main roads can fetch $450 to $1,500 per square metre. It can be as cheap as $200 per square metre off smaller roads.
Since Sen Sok district is becoming more popular for both residential and commercial property, it’s no surprise that shophouses are in high demand. They allow for families to have a home and a small business all wrapped into one.
According to the founder and CEO at Key Real Estate, Sorn Seap, shophouses on main roads in the area could be purchased for around $300,000 to $500,000. Shophouses off smaller roads can be found for just $250,000, on the other hand.
In seems that Sen Sok has the best of both worlds for business owners who need industrial space. It’s got all the convenience and transportation options of the city, with lower rental prices.
Indeed, Seap mentioned that warehouses could be rented for between $1.5 and $3 per square metre. This is especially useful for automotive garages or other operations that involve heavy machinery.
Renting in Sen Sok
More activity in Sen Sok district means rents have also risen there.
Seap noted that a shophouse could be rented for between $500 and $2,000 per month, depending on size.
Residential houses can be found there for between $300 and $600 per month, and villas for $1,000 to $2,500 per month.
Relocating to Sen Sok district
In addition to new apartment complexes and a handful of new boreys, Sen Sok has also seen several governmental departments relocate their headquarters to the area.
The Department of Planning, the Department of Health, the Department of Industry and Social Affairs, as well as the National Bank, have all put offices there.
As this happens more eyes focus on infrastructure development there.
The growth of Sen Sok district is following a similar trajectory to Toul Kork, its neighbour. Both began as districts on the outskirts of town. They are now seeing infusions of both residential and commercial activity as the city grows.