Attractive returns on apartments in Phnom Penh

Last Updated: May 15, 2012
45 sq. m. 144,720 n.a. n.a. 3,216 n.a.
65 sq. m. 220,155 600 3.27% 3,387 9.23
80 sq. m. 270,160 858 3.81% 3,377 10.73
120 sq. m. 349,560 1,553 5.33% 2,913 12.94
250 sq. m. 712,250 2,780 4.68% 2,849 11.12
150 sq. m. 659,250 1,883 3.43% 4,395 12.55
300 sq. m. 1,149,000 2,679 2.80% 3,830 8.93
600 sq. m. 2,146,800 n.a. n.a. 3,578 n.a.
Phnom Penh: The villas are located in Daun Penh (KDP), Tuol Kork (KTK), Chamkarmon (KCKM), 7 Makara (K7MKR), French Quarter, and Boeung Keng Kang 1 Disctrict (BKK1). The flats are located in Beong Keng Kang I and Daun Penh.
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In Cambodia, apartments are a different thing from flats. Cambodia defines apartments as non-landed housing units in a building, or what is commonly known in the wider world as condominiums. Flats, also known as shop houses, are landed properties, with a ground floor, and up to two or three floors. Flats are the equivalent of row houses.

Foreigners cannot own land in Cambodia.  So they can only buy apartments.  We would therefore have wanted to survey the prices of apartments.  However, very few, in fact almost none, are listed on the websites of realtors in Cambodia. So our survey is about the prices of flats (row houses) and villas.

Flats in Phnom Penh, Cambodia’s capital city, cost around US$3,000 per square metre (sq. m.).   We surveyed flats located in the prime residential areas of Phnom Penh, like Daun Penh (KDP), Tuol Kork (KTK), Chamkarmon (KCKM), and  7 Makara (K7MKR).

Rents range from US$9 per sq. m. to US$13 per sq. m. per month. A 65 sq. m. flat costs US$600 per month to rent. A 120 sq. m. flat costs more than twice as much, at around US$1,500 per month.

The gross rental yields for flats in Phnom Penh, i.e., gross return on investment in a flat if fully rented out, ranges from 3.27% to 5.33%.

Villas are more expensive than flats, ranging from around US$3,500 to US$4,500 per sq. m., with smaller villas fetching the higher prices.

Rents are also highest for smaller villas. For example, a 150 sq. m. villa costs around US$13 per sq. m. per month, while a 300 sq. m. villa costs only US$9 per sq. m. per month.

Villas earn poor rental yields, ranging from 2.8% to 3.43%.


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