Summary
National tourism cooled in 2025 — Cambodia logged 5.57m international arrivals (−16.9% versus 6.7m in 2024), per Ministry of Tourism figures cited via Global Property Guide. Against that backdrop, Sihanoukville is not a 2018 casino-tower sequel.
AirDNA data for Preah Sihanouk (page updated 8 September 2026, covering through August 2026) shows 115 active short-term rentals, 43% occupancy, about US$37 average daily rate, and trailing-twelve-month revenue near US$5.3k per listing. That is short-let platform data, not condominium occupancy and not a yield promise. Active supply is sharply lower year on year on the same AirDNA page — another reason not to treat a single STR snapshot as a condo thesis.
Treat 2026 as a coast reset: logistics, selective finished product, and boutique hospitality — not off-plan retail nostalgia. Completed sea-view stock and unfinished inland towers are different products; filters should say so.
What this means for Sihanoukville
Selective air recovery on the coast does not rehabilitate unfinished towers. Buyers and professionals should demand completion status and clear use-case language. Separate finished beach product from unfinished inland stock in any comparison.
What to do next
- Ask for completion evidence; ignore tower-era boom creative.
- Treat AirDNA and similar STR prints as platform metrics only — not condo occupancy or promised yields.
- Developers and Pros: join the verified path at proprkey.com/en/onboarding