Looking for a condo for sale in Phnom Penh?
At the time of writing Phnom Penh’s current condominium supply stands at over 17,000 units. In a city with a population of over 2.5 million people and an expanding expatriate population (many of whom are looking for rental properties) means that foreign investors looking for a condo for sale in Phnom Penh have plenty of options to consider.
Although still low compared to Western or European Nations domestic demand for both condominium purchase and rental is now growing with most domestic purchasers buying for residence rather than rental returns.
View our Condo Listings
Condo for sale in Phnom Penh: High end, mid range, or affordable?
The high-end segment currently dominates the market with over 10,000 units in supply accounting for roughly 61% of the market. A high-end segment condo for sale in Phnom Penh would start at approximately USD $2,200 Per Sqm.
The mid-tier segment makes up for around 6,800 units accounting for around 39% of the current market share. A mid-tier condo for sale in Phnom Penh would start at approximately USD $1,100 Per Sqm.
Recently more and more affordable housing projects have been launched with “no-frills” developments offering compact basic units at prices ranging between USD $25,000 to $90,000. Many of these developments are catered towards locals but have attracted increased attention from overseas buyers looking for a good value condo for sale in Phnom Penh.
Investment in the Phnom Penh condo market: Guaranteed rental returns
Many condominium developers offer buyers GRR or Guaranteed Rental Returns. This means that once payments have finished and the condo unit has been handed over to the buyer, the developer promises to repay a certain percentage of the purchase value over a specified amount of time essentially guaranteeing a rental income on the property. GRR has proved popular with many foreign investors.
Typically a condominium project needs to have 30% local ownership to 70% foreign ownership of the total amount of units. Foreigners are restricted to purchasing units on the first floor and above only.
Foreign investors can legally buy condos in Phnom Penh
For foreign investors looking for a condo for sale in Phnom Penh it’s important to do the necessary due diligence on a developer, always check they have the necessary licenses and are eligible to issue all buyers with a strata title thus registering the buyer as the legal owner of the property.
Apartments for sale in Phnom Penh are not the same as condos
There are many cheap apartments for sale in Phnom Penh that are individual units in older shop house buildings, but these cannot offer a strata title and so are only available for Cambodian citizens to purchase. Foreigner buyers should only consider fully licenced condo developers when looking for a condo for sale in Phnom Penh.
For more information on condo for sale in Phnom Penh, including up to date market value, the most desirable residential locations and prices, as well as time-saving information regarding strata-titled properties, contact the residential real estate sales agents at Knight Frank Cambodia.