June 2021 Condominium market overview in Phnom Penh
Updated on: June 7, 2022, 6:46 a.m.
Published on: July 7, 2021, 4:55 a.m.

June 2021 Condominium market overview in Phnom Penh

The market uncertainty caused by COVID-19 remains the top concern for many agents, developers, and buyers within the Cambodian property space.

The country’s daily COVID-19 cases for most of June remain in the 3-digit range, seeing a spike of 1,000 in a single day towards the end of the month. Government officials warn that the country is close to crossing a “red-line” if cases continue to rise - a case that may lead to another lockdown, according to a report by the Khmer Times.

Google’s Mobility Tracker shows much of the foot traffic moving closer to baseline with more people going out to public places such as workplaces, groceries, and retail destinations.

It is worth noting that while Cambodia surpassed 50,000 infections, currently active cases in the country number less than 5,000 as of writing. Agents and developers remain hopeful about the future of the market provided no lockdown is imposed.


Sales activities have slowed down but interest in properties remains. Despite no lockdown being in effect throughout June and buyers expressing interest, many have chosen to adopt a “wait-and-see” approach. This has prompted agents and developers to adjust payment terms and offer discounts to spur buyers into action and close deals as fast as possible, with mixed results.

The PARC 21 Residence is one of the developments that saw a good month after closing over $700,000 worth of property in the first week of exclusivity with marketing partner Realestate.com.kh and sales partner FazWaz Cambodia. The amount of new developments coming to Phnom Penh makes it hard to stand out, especially during the pandemic. But with the help of its exclusive partners, PARC 21 Residence was able to reach property buyers simply looking for a good deal on the market.

June 2021 price and size breakdown for condominiums in Phnom Penh:

Unit Type

Median price per sqm

Median unit size



46 sqm



72 sqm



113 sqm



Rental prices in Phnom Penh have gotten their footing during COVID-19 though values are still considerably lower before the outbreak. For June 2021, apartment/condo rental prices saw no significant change compared to May 2021 but are still as low as 30% below pre-COVID-19 figures. The two major movers of rental prices have been the lack of tourists and the movement of renters, especially expatriates, to lower-cost rentals or simply departing due to persisting uncertainty surrounding COVID-19.

The lack of tourism remains the elephant in the room for many rental landlords/investors in the city. In a report by the Khmer Times, Cambodian operators are looking towards Thailand’s “Phuket Sandbox” as a basis for their own plans to reinvigorate tourism in the country.

Data presented below are median prices from listings available in Phnom Penh. Lower priced accommodations than what is presented are available on Realestate.com.kh’s rental property listings.

June 2021 Price Trends by Bedroom for Apartments for Rent:

  • 1-bedroom apartment rent per month: 600 USD (No change from May)
  • 2-bedroom apartment rent per month: 1,000 USD (No change from May)
  • 3-bedroom apartment rent per month: 1,800 USD (No change from May)

June 2021 Price Trends by Bedroom for Houses for Rent:

  • 2-bedroom house rent per month: 800 USD (No change since May)
  • 3-bedroom house rent per month: 1,700 USD (6.25% increase from May)

District and Property Type Popularity in Phnom Penh

Chamkarmon overtook Boeung Keng Kang (BKK) as the most popular district for properties in Phnom Penh. Supplied.

Chamkarmon overtook Boeung Keng Kang (BKK) as the most popular district for properties in Phnom Penh. Supplied.

The threat of COVID-19 remains a factor for many property seekers and investors in Phnom Penh. Nevertheless, property searches through Realestate.com.kh only saw single-digit adjustments in the popularity index of Phnom Penh’s districts. It is also worth noting that the amount of search queries in June 2021 remains above the amount of interest expressed by property seekers at the same time last year.

The top 5 most popular districts for property searches in Phnom Penh, with the most popular property type searched, are listed below:


For June 2021, Chamkarmon overtook Beoung Keng Kang (BKK1) as the most popular district for property searches. The area’s popularity as a Tier 2 location has been growing since the onset of COVID-19 in Cambodia.

Chamkarmon is known as a prime residential choice due to its near central location without the considerable asking price of BKK. Chamkarmon rivals BKK in terms of urban conveniences and activity as cafes, restaurants, pubs, and supermarkets litter almost every block of the district. Tourists often move around the Russian Market area hoping to find a good place to eat and stay. Rental properties are quite popular in the area due to the expat and tourist market it attracts.

A project of note in the area is the PARC 21 Residence located in the Boeung Trabek commune. The PARC 21 Residence recently made its mark in the property sector by positioning itself in a popular location in Chamkarmon and pricing itself competitively against other projects within its vicinity - resulting in over $700,000 worth of property deals being closed in 1 week. 

Popular property types searched in Chamkarmon:

  1. Apartments/Condos
  2. Landed houses
  3. Commercial Properties
  4. Land Properties

Boeung Keng Kang (BKK)

Boeung Keng Kang previously topped districts for property searches for several months. For June 2021, it slid down to 2nd place due to increased interest in properties in Chamkarmon.

Nevertheless, the district’s popularity continues due to the large availability of modern urban conveniences (modern cafes, restaurants, pubs, supermarkets, offices, and international schools) that make it a prime location for residential property seekers, regardless of whether they’re Cambodian or expatriate. Its diverse collection of consumers make it equally attractive to international businesses and local entrepreneurs to set up shop in the area.

Popular property types searched in Boeung Keng Kang:

  1. Apartments/Condos
  2. Landed houses
  3. Commercial Properties
  4. Land Properties

Daun Penh

The central business district of Daun Penh reclaimed its 3rd place in June 2021. Daun Penh saw a surge in popularity as likely a result of business activity picking up after the month-long lockdown that ended in Mid-day. Being the CBD of Phnom Penh, it is one of the priciest areas in terms of dollars per square metre as it is the most developed of all districts.

Popular property types searched in Daun Penh:

  1. Apartment/Condos
  2. Landed houses
  3. Commercial properties
  4. Land properties

Chroy Changvar

Chroy Changvar is a new entry into the top 5 most popular districts in Phnom Penh. The district is located in the northeast of Phnom Penh, Cambodia’s bustling capital city, at the confluence of the Mekong River and Tonle Sap River. Chroy Changvar is the name of both the district and the peninsula it encompasses.

The district is a rapidly developing area that has seen a number of large hotels, residential developments, restaurants, and other investment projects transform the formerly quiet area on the outskirts of the city into a property investment hub. Chroy Changvar’s popularity likely stems from many investors looking to locations outside of the city centre with high potential for returns.

Some popular projects in Chroy Changvar are The Peninsula Private Residences, a multi-awarded condominium development. La Vista One, a premier waterfront development in Chroy Changvar. And the WorldBridge Sport Village, the first-ever sports village in Cambodia and the site for the upcoming SEA Games 2023.

Popular property types searched in Chroy Changvar:

  1. Apartment/Condos
  2. Landed houses
  3. Commercial properties
  4. Land properties

Sen Sok

The vast lands of Sen Sok remain one of the most popular districts in Phnom Penh. The district’s potential for more development continues to make it a popular development choice for many looking to capitalize on the Kingdom’s persistent pace of growth. 

Sen Sok’s popularity for many Cambodian property seekers has been noted by both local and foreign investors, resulting in the development of boreys (gated communities with landed homes) and condominiums. This flurry of residential development has been met with commercial developments, chief examples being the AEON Mall 2 - the biggest mall in Cambodia to date. The internationally known Makro wholesale market brand is also present in the district.

Popular property types searched in Sen Sok:

  1. Landed houses
  2. Apartment/Condos
  3. Land properties
  4. Commercial properties

Realestate.com.kh’s Condominium Overview in Phnom Penh is a monthly report based on its internal developer tracking and data collected from over 20,000 live property listings across Cambodia.

If you’re interested in property in Phnom Penh, let us know by contacting our property advisors below!

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