Phnom Penh Condo Market Trends 2025
- Andrew Millar
- Jun 25, 2025
- 1 min read
Updated: Dec 24, 2025
IPS Cambodia
Report Description
25th June 2025 (online)
IPS Cambodia presents this up-to-date examination of the condominium market in Phnom Penh, offering investors a comprehensive view of current supply, demand, pricing and potential returns in the city’s condo sector.
Summary
The total condominium supply in Phnom Penh surged from roughly 20,000 units in 2019 to approximately 60,000 units by the end of 2024, reflecting nearly 20% annual growth.
Since the 2019 peak, condo prices have corrected downward by about 15 to 20%, making entry-level units more affordable at USD $1,500 to $2,200 per sqm.
Average rental vacancy rates have fallen to around 15% per project by 2025, indicating the market is absorbing prior oversupply.
Net rental yields remain attractive, typically between 6.5 and 8% per annum, with some prime condos delivering yields of 8.5%+.
Demand is especially strong for 2- to 4-bedroom units, which remain popular among tenants and resale buyers, particularly in centrally located and high-quality buildings.
Smaller units (studios, 1-bedroom) face higher competition for tenants and buyers due to broad availability and limited differentiation.
New project launches have slowed in 2025, as developers pivot towards mid- and low-range offerings, targeting both foreign and local Cambodian buyers to match changing demand patterns.
About IPS Cambodia
IPS Cambodia is a leading real estate market research and advisory group, specialising in property trends and investment analysis in Cambodia.
The organisation leverages industry data and capital-market insights to advise both local and international investors.
Through timely reports and market commentary, IPS Cambodia helps stakeholders navigate Phnom Penh’s rapidly evolving property sector.
Website: ips-cambodia.com