Prime Phnom Penh Development Land Index, Q2 2024
- Andrew Millar
- Jul 4, 2024
- 2 min read
Updated: Dec 1, 2025
Knight Frank Cambodia
Report Description
4th July 2024 (PDF, 3 pages)
This Q2 2024 edition of the Prime Phnom Penh Development Land Index from Knight Frank Cambodia provides an evidence-based overview of land price movements, market sentiment and emerging investment conditions across the capital’s core districts.
Summary
Market activity in H1 2024 remained subdued, continuing the low transaction levels seen in 2023.
Prime residential development land prices declined by 1.4% QOQ, while prime office land prices dropped 2.9% during Q2 2024.
Annual price movements show residential and office land values falling 5.8% and 2.4%, respectively.
Compared with Q2 2020, average prime residential and office land prices are down 35% and 36% as the post-Covid correction continues.
Growth drivers in H2 2024 include rising exports, increased international tourism and higher inflows of FDI.
The report highlights opportunities for investors to acquire land at heavily discounted prices, with values nearing the bottom of the cycle.
Macroeconomic uncertainty and high interest rates remain short-term challenges impacting investor sentiment.
About the Prime Development Land Index Series
The Prime Development Land Index series tracks quarterly changes in land values, in this case across Phnom Penh's key districts, providing timely insights for developers and investors.
Each edition analyses market drivers, price movements and macroeconomic conditions shaping the real estate landscape. The series is designed to support strategic decision-making in Cambodia’s evolving property market.
About Knight Frank Cambodia
Knight Frank Cambodia was established in 2008, expanding the global Knight Frank network into the Cambodian market with dedicated advisory, valuation, research and transactional expertise.
The organisation supports clients across residential, commercial and industrial real estate through data-driven insights and sector-specific consultancy.
Its Cambodia office plays a key role in guiding investors, corporates and policymakers in an increasingly competitive property landscape.
Website: knightfrank.com