May 2021 Apartment/Condo Market Overview in Phnom Penh
Updated on: June 6, 2022, 5:00 p.m.
Published on: June 12, 2021, 8:00 a.m.

May 2021 Apartment/Condo Market Overview in Phnom Penh

The month-long lockdown measures implemented in Phnom Penh were lifted in May 2021. The news of the lifting of movement restrictions was a welcome one by many businesses, especially developers in Phnom Penh. Given its recent reopening, the city’s property market is positioning itself for gradual recovery in terms of sales activity, stabilizing rental prices, and increase in property search interest in popular districts in Phnom Penh.

Sale Prices in Phnom Penh

For May 2021, sale prices for apartments/condos have started to stabilize and even see slight upticks in quoted prices and overall interest from both the local and international markets. Some developers have notably switched marketing to the local market while others have geared up their marketing for international buyers given Phnom Penh’s relatively “business-as-usual” daily life after its month-long lockdown ending in mid-May.

May 2021 price and size breakdown for apartments/condos in Phnom Penh:

Unit Type Median price per sqm Median unit size
1-bedroom 1,796 USD 43 sqm
2-bedroom 2,065 USD 76.5 sqm
3-bedroom 2,429 USD 122 sqm

Rent Prices in Phnom Penh

Rental Prices in Phnom Penh today remain at relatively lower levels compared to this time back in 2020. The good news is that the days of uncertainty from market fluctuations have passed and prices have largely stabilized for apartment rentals even throughout the impact of the Feb-20 community outbreak. Unfortunately, the same cannot be said for houses available for rent in the city as their rental prices have fluctuated in the past quarter following the community outbreak.

Should rising cases persist, more factors will come into play for the rental market such as quarantine zoning restrictions, limited foot traffic affecting businesses operating from shophouses, competition from hotels offering long-term stays, and the entry of new landed developments with rental schemes.

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.

May 2021 Price Trends by Bedroom for Apartments for Rent:

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

May 2021 Price Trends by Bedroom for Houses for Rent:

  • 2-bedroom house rent per month: 800 USD (8.5% decrease from April)
  • 3-bedroom house rent per month: 1,600 USD (6.6% increase from April)

District and Property Type Popularity in Phnom Penh

The amount of search queries this month (and so far into Q2) 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:

Boeung Keng Kang (BKK)

In April 2021’s report, Boeung Keng Kang was the top searched district for properties in Phnom Penh. The district’s popularity continues in May 2021 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


Chamkarmon maintained its second-most-popular status in terms of property searches in Phnom Penh. This district is 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 good souvenirs, knick-knacks, and even holes-in-the-wall. Rental properties are quite popular in the area due to the expat and tourist market it attracts.

Popular property types searched in Chamkarmon:

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

Sen Sok

The vast lands of Sen Sok swept through this month’s popularity rising from 5th overall to be the 3rd most popular district due to a spike in interest. Its flatlands continue 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

Daun Penh

The central business district of Daun Penh dropped down to 4th place in May 2021. It is worth noting that Daun Penh’s drop in popularity is not a result of less interest but rather a significant increase in searches for properties in Sen Sok. Daun Penh’s search popularity increased slightly in May as business gradually returned to the whole of Phnom Penh.

Popular property types searched in Daun Penh:

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

Toul Kork

The Toul Kork area has seen a significant amount of development over the past decade. Its close proximity to central districts like Daun Penh and 7 Makara make it an equally attractive choice to residents looking to live near the city center without the associated costs. It also serves as the gateway to the developing outer districts of Sen Sok and Russey Keo.

Despite the district’s comparatively small area, the area is known for a large number of villas, office spaces, condominiums, and overall interest from both residential and commercial developers.

Popular property types searched in Toul Kork:

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

Realestate.com.kh’s Apartment/Condo Market 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 learning more about the Kingdom’s property market, you can download the Real Estate Survey 2021 for free!

Cambodia Real Estate Survey 2021 free download

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