General research for information only — not legal, tax, or investment advice. Cambodian law and markets change; figures are indicative, so verify current detail with a qualified local professional before you act.
This is the inaugural edition of the Cambodia Property Price & Yield Index — our quarterly, independent read on what residential property is advertised at, and what it yields, across the country’s four main markets. The live, always-current version (with an interactive chart and downloadable data) lives at /price-index; this article is the written quarterly briefing that sits alongside it.
Read this first — illustrative inaugural release. This first edition is built on representative figures so the index, the methodology, and the data pipeline can be validated end to end. It is not yet sourced from live listings and must not be used to value a specific property. The method and the numbers below move to sourced data in a coming quarter, with no change to how the index is read or cited. See the methodology for exactly how it is built and its limits.
The headline
Across the markets we track, the picture in 2026 Q1 is soft but not falling apart. Phnom Penh — the deepest, best-sampled market and the one our headline number follows — has drifted down rather than dropped: the mid-market condo index sits at 97.0 against a base of 100 in 2024 Q1, i.e. about 1% lower year-on-year and roughly flat on the quarter. New supply, not collapsing demand, is doing the work.
The coast remains the weak spot. Sihanoukville is still digesting its post-boom overhang, with the softest prices and the lowest real yields once you account for vacancy. The smaller markets — Siem Reap and Kampot — are the quiet firmers, posting small quarter-on-quarter gains off a low base as tourism and lifestyle demand recover.
Advertised prices by city (2026 Q1)
Price per square metre, in USD, by city and segment. These are advertised prices — what sellers ask, which sits above what deals actually close at, especially in a soft market. Treat the trend as more reliable than the absolute level.
| City | Mid-market condo | High-end condo | Landed (borey) |
|---|---|---|---|
| Phnom Penh | $2,425 | $3,495 | $1,293 |
| Siem Reap | $1,620 | $2,120 | $862 |
| Sihanoukville | $1,430 | $1,870 | $900 |
| Kampot | $1,320 | $1,720 | $815 |
Phnom Penh still commands a clear premium across every segment. The gap between the capital and the secondary cities is widest at the high end, where genuine prime stock is concentrated in a handful of Phnom Penh districts.
Gross rental yields by city (2026 Q1)
Indicative gross yields — annual advertised rent over advertised price, before any costs. The honest, net number is materially lower once you deduct service charges, vacancy, management, and tax; we walk through that gap in reading Cambodian rental yields.
| City | Mid-market condo | High-end condo | Landed (borey) |
|---|---|---|---|
| Phnom Penh | 6.1% | 5.0% | 5.5% |
| Siem Reap | 5.5% | 5.0% | 5.3% |
| Sihanoukville | 4.0% | 3.8% | 4.4% |
| Kampot | 5.0% | 4.7% | 5.2% |
Two things stand out. First, mid-market condos out-yield high-end across every city — the prime end is priced for capital preservation, not income. Second, Sihanoukville’s headline yields are the lowest and the most misleading: the gross figure ignores the high vacancy that defines the post-boom coastal market, so the achievable yield is lower still.
Year-on-year trend
Only Phnom Penh has the full back-series this quarter (the secondary cities are being built up quarter by quarter), so it is the one market where a year-on-year read is meaningful:
- Phnom Penh mid-market condo: −1.0% YoY, roughly flat quarter-on-quarter.
That gentle erosion is consistent with the supply story we have been tracking in the Phnom Penh market analysis: completions keep arriving faster than absorption, so asking prices grind down rather than crash. The other cities will gain a YoY read as the series matures.
How our illustrative levels compare to published data
Because this inaugural edition runs on representative figures, the fairest test
we can offer is to put them next to independently published market data — and
they hold up as levels, even before the pipeline goes live. Citations are
marked [S-NNN]; the source list is at the end.
- Phnom Penh prices. Our $2,425/sqm mid-market and $3,495 high-end levels sit inside the published 2026 corridors: portal research puts premium districts (BKK1, Tonle Bassac) at $2,300–3,200/sqm and mid-tier zones at $1,400–1,900 [S-101], while 2025 trade coverage bands high-end stock at $1,900–3,500 and mid-market at $1,300–1,900 [S-026]. Our mid-market figure sits at the top of those mid bands — consistent with it capturing central mid-market stock rather than the Sen Sok periphery.
- Phnom Penh yields. Our 6.1% mid-market gross against 5.0% high-end matches the published shape: Global Property Guide’s national average gross yield is 7.68% [S-090], portals quote net yields of 4.5–6.0% in premium and 5.5–7.0% in affordable product [S-101], and the mid-out-yields-prime pattern is consistent across every source we track.
- The direction. Our gentle-erosion read (−1% YoY) matches the published supply story — roughly 72,000+ units in market and growing [S-101], prices 15–20% below the 2019 peak [S-026], and Q1 2026 trade commentary describing “rational pricing” and “a softening in overall property valuations” in a maturing market.
What we could not do this quarter is the full data swap: Cambodia has no public quarterly back-series of advertised prices to rebuild 2024–2026 from, and the institutional research that tracks it (CBRE Cambodia and peers) sits behind registration. The move to sourced data will come from live listing collection and agent partnerships, as the methodology sets out — not from repackaging someone else’s gated numbers.
How confident are these numbers?
Confidence tracks sample size. Phnom Penh is built on the most listings (around 150 for the mid-market segment alone); the secondary cities rest on far thinner samples (often a few dozen, and into single digits for high-end Kampot), so their figures are more volatile and should be read as directional. Every figure on the live index carries its sample size (n) for exactly this reason.
The larger caveat is structural: Cambodia has no comprehensive public register of settled transaction prices, so any index here — ours included — leans on advertised prices and inherits their upward bias. We are transparent about that rather than papering over it. The full picture is in the methodology.
What it means for a buyer
- Time is on your side in Phnom Penh and Sihanoukville. Softening asking prices and ample supply mean little reason to rush, and real room to negotiate off the advertised number.
- Underwrite on net, not gross. A 6% gross yield is not a 6% return. Deduct the costs before you commit, especially on the coast where vacancy bites.
- Secondary cities are firming, but thin. Siem Reap and Kampot are quietly improving, but the data is sparse — verify locally before reading too much into a single quarter.
Use & cite the data
The index is free to explore, download, and cite with attribution and a link:
- Interactive index + chart: /price-index
- Download: JSON · CSV
- Methodology & limitations: /price-index/methodology
We would rather be the cited source than gatekeep the numbers. If you are writing about the Cambodian market and need a figure, take ours — just link back.
The next edition is due in 2026 Q3.
Sources
- [S-026] IPS Cambodia — Phnom Penh Condo Market Trends 2025 — price bands (high-end $1,900–3,500, mid $1,300–1,900); 15–20% below 2019 peak; supply trajectory.
- [S-090] Global Property Guide — Cambodia Rental Yields — national average gross yield 7.68% (Q3 2025).
- [S-101] CambodiaProperty.asia — Cambodia Real Estate Market 2026 — 2026 pricing corridors (premium $2,300–3,200, mid $1,400–1,900, emerging $1,200–1,600); net yields 4.5–6.0% premium / 5.5–7.0% affordable; 72,000+ unit supply.