Summary

Phnom Penh is Cambodia's largest property market, but it is not one market. Condominiums, boreys (gated landed-housing developments), serviced apartments and land each have different buyers, different legal rules and different price drivers. A figure that describes one segment says little about another.

This guide explains how the market is structured, who publishes data on it and how to read their reports, and the ownership and tax rules that apply to every purchase. It deliberately carries no quarterly numbers. For the latest condo prices and lending conditions, read our Q3 2026 market update.

What this means for Phnom Penh

The four main segments

Condominiums. Strata units in co-owned buildings. This is the segment open to foreign buyers, so it attracts most international attention and most published research. Reports usually split condos into high-end, mid-range and affordable tiers, and those tiers can move in different directions.

Boreys. Gated developments of link houses, shophouses and villas, built mainly for Cambodian families. Because each house sits on its own plot, boreys come with land ownership, which is restricted to Cambodian nationals.

Serviced apartments. Rental buildings run for expatriate and corporate tenants. They matter to investors as a rental benchmark: if serviced apartment rents and occupancy soften, condo investors who plan to rent out units usually face the same pressure.

Land. Plots for development or long-term holding. Land is the base of most Cambodian wealth in property, but it can only be owned by Cambodian individuals or Cambodian legal entities.

Who publishes market data, and how to read it

Most regular Phnom Penh market reports come from international and local property consultancies. One example is APS Cambodia (formerly CBRE Cambodia), which publishes a quarterly market pulse across residential, office, retail and other sectors. Other consultancies and developers publish their own reviews.

When you read any of these reports, check:

  • The segment. Is the figure for condos, landed housing or land, and which price tier?
  • Asking or transacted. Many reports track asking prices from developers, not prices actually paid.
  • Primary or resale. New-launch prices and resale prices can diverge sharply.
  • Area covered. "Phnom Penh" in one report may mean the central districts only; in another, the whole capital.
  • Method and sample. A change in the projects being tracked can move an average without any real price change.
  • Supply versus take-up. Completions and launches show what is being built, not what is being sold.

Treat a single report as one view. Compare it with others, and with the actual listings and sale terms in front of you.

Ownership rules recap

Cambodia's Land Law (Article 8) states that only natural persons or legal entities of Khmer nationality have the right to own land. That rules out direct foreign ownership of land, boreys and landed homes.

Foreigners can own condominium units under the 2010 Law on Providing Foreigners with Ownership Rights in Private Units of Co-owned Buildings. Article 6 of that law limits foreign ownership to units from the first floor up; ground-floor and underground units cannot be owned by foreigners. A sub-decree sets the share of units in each building that foreigners may own, so check how many foreign-owned units a project has left before committing.

For more detail, see our guides on whether foreigners can own a condo unit, whether foreigners can own land and how to check a land title.

Tax recap

Owners of land and buildings in the capital and provincial cities pay an annual property tax. According to the General Department of Taxation, it applies to property worth more than KHR 100,000,000, at a rate of 0.1% on a tax base of 80% of the property's value (land value plus construction cost), under Prakas No. 493 MEF.PrK of 19 July 2010.

Buyers also need to plan for transfer tax at purchase and for the capital gains tax rules on a later sale. Both have been subject to policy changes and reliefs, so confirm the current position with the General Department of Taxation before you buy. Our explainers cover the annual property tax, stamp duty on residential purchases and capital gains tax on property.

Frequently asked questions

Can a foreigner buy property in Phnom Penh? Yes, a condominium unit on the first floor or above, within the foreign-ownership share set for the building. Foreigners cannot own land directly.

Where can I find current Phnom Penh property prices? Quarterly consultancy reports are the main published source. Our Q3 2026 market update summarises the latest figures.

Is there an annual tax on property in Phnom Penh? Yes. Property worth more than KHR 100,000,000 is taxed at 0.1% a year on 80% of its value.

What to do next

  • Decide which segment fits your goal: a condo if you are a foreign buyer, landed housing or land if you are Cambodian.
  • Read at least two recent market reports, and note whether each figure is asking or transacted, primary or resale.
  • Check the developer's permits, the title type and, for foreign buyers, how many foreign-owned units remain in the building.
  • Confirm current tax treatment with the General Department of Taxation before you sign.
  • Compare verified listings and get matched with vetted agents: proprkey.com/en/onboarding