Fearless Forecast 2026
- Andrew Millar
- Nov 27, 2025
- 2 min read
Updated: Dec 27, 2025
Advantage Property Services
Report Description
27th November 2025 (PDF, 50 pages)
Drawing on detailed macroeconomic indicators, construction investment trends and sector-by-sector market data, Advantage Property Services (APS Cambodia – formerly CBRE Cambodia) presents a fearless forward view of Cambodia’s real estate market in 2026.
Summary
Core inflation eases, the USD–KHR exchange rate hovers near 4,000, and external trade gradually recovers.
Construction investment rebounds as residential, industrial and tourism projects restart, though delivery still depends on financing.
Bank deposits in local and foreign currency rise at double-digit rates, yet NPLs and high private debt curb confidence.
Industrial growth strengthens with 6 new projects over 1,900 ha and furniture exports around USD $1 billion by September 2025.
Phnom Penh office occupancy stabilises near the low 60% range as Grade A supply expands and landlords stay flexible.
Shopping and community mall rents fall between 2.2 and 10.2% YOY, while F&B-led brand expansion underpins demand.
Condo, landed housing and serviced apartment pipelines grow, yet pricing stays broadly stable and smaller units gain favour.
About the Fearless Forecast Series
Fearless Forecast 2026 is part of an evolving research series from Advantage Property Services that distils complex data into practical insights for real estate owners, occupiers and investors in Cambodia.
Each edition combines macroeconomic analysis, asset-class supply tracking and transaction evidence, including forward-looking commentary on risk and opportunity. The 2026 release puts particular emphasis on liquidity, construction pipelines and sector forecasts, helping decision-makers stress-test strategies in a changing market.
About Advantage Property Services
Advantage Property Services (APS Cambodia) is a Phnom Penh-based real estate advisory firm that has served the local market for more than 17 years, evolving from its origins as CBRE Cambodia into a fully independent brand.
Headquartered on the 10th floor of the Keystone Building, on Norodom Boulevard, the firm employs around 80 local professionals across advisory, valuation, research and agency services.
As an independent platform, APS focuses on agile, research-driven solutions for corporate, institutional and private clients, leveraging deep local knowledge to support investment, development and occupation decisions throughout the Kingdom.
Website: aps.com.kh