Cambodia Property Price & Yield Index — 2026 Q1

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 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.