The new Investment & Market Analysis 2025 - Condominium Report from Realestate.com.kh aims to provide honest, data-backed insights to empower buyers, sellers, and developers to make informed choices in the Cambodian real estate markets, specifically when it comes to condos, which have been a frontrunner in property sales in the Kingdom.
The detailed report contributes to a more transparent, trusted and sustainable market and forms part of essential knowledge when looking at buying in the market.
Realestate.com.kh CEO Tom O’Sullivan says in the report, ”While condos have long attracted foreign investors, we’re now seeing an increased interest from Cambodian buyers and renters alike, driven by shifting lifestyle preferences and a growing demand for convenience, modern amenities, and independent living.
Although the market is still recovering post-COVID, sales activity in the condo market is strong, particularly in well-built, well-located developments - a clear sign of a “flight to quality.” But while the opportunities are real, so too are the risks."
Why Buy a Condo in Cambodia?
Many of the pull factors for why investors and property buyers are attracted to Cambodia remain the same, and especially for international buyers, the fact that they can purchase 100% freehold ownership allowed legally and companies can be 100% foreign-owned - the Kingdom is very foreign-friendly and Foreign Direct Investment in all sectors is a key growth driver.
In terms of growth trends, there are some key drivers too, notably:
- Young Population
- Rapid infrastructure development
- Increasing Urbanisation
Sotha Vatey, Sales Director at realestate.com.kh, explained, “It’s no longer just about offering a place to live - it’s about delivering a complete, engaging living experience that captures the buyer’s imagination and sets new standards for urban living.”
How The Market Shifted Post-Pandemic
Sotha Vatey says, “In the past, many overlooked key factors — like developer reputation, project stability, pricing, and truly assessing livability. But after seeing market underperformance (especially pre-pandemic), buyers are now more cautious before committing. This shift is pushing developers to exceed expectations, not just meet them.”
A Guide to Condo Buying: Due Diligence Checklist for Cambodia
Vatey explains that among the changes the condo market has seen are:
- Leading developers are offering smarter product offerings, better designs, and more flexible payment plans.
- Payment terms might include up to 50% of payment due only at completion to ease buyer risk during the construction phase and help build confidence.
- Adjustments in pricing models are intended to appeal to a broader pool of buyers, domestically and overseas
- Renewed focus is on making property ownership in Cambodia more accessible.
- Developers have emphasised livability and lifestyle. Amenities are broader and competitive and include co-working spaces, libraries, gardens, rock climbing walls, golf simulators, infinity pools, etc.
Has There Been a Change in Buyers' & Renters Origin?
Condo Buying Data
The Market Analysis 2025 - Cambodia Condominium Report details the development in both sales and rental markets and explores the demographics of key buyer and renter groups in Phnom Penh, which is very insightful.
The Cambodian condo market has historically been driven by foreign investment, and this seems to have largely remained the same for the condo market based on the latest available data, although Cambodian buyers made up 18.2% of the market.
The attraction of the Cambodian property market is driven by competitive prices. The foreign ownership of strata-title units and an increasing diversity of buyer nationalities show the Kingdom is better intertwined on the global scene.
The regional market is still an important one, and investors and buyers from Singapore, Malaysia, Thailand, Vietnam, and China help drive demand for Cambodian condos.
Interestingly, Eastern Europe is the fastest-growing segment, and the likely cause is the geopolitical instability forcing more investors to seek safer and more stable opportunities abroad.
International buyers dominated condo sales:
- USA (10.3%)
- Singapore (7%)
- UK (6.7%)
- China (6.7%)
- Russian (6.2%)
- German (5.3%)
- French (4.4%)
- Australian (4.4%)
- Japan (3.8%)
- Korean (2.1%)
This growing domestic participation suggests increasing confidence in the condo segment among domestic buyers, likely driven by rising incomes, urbanisation, and shifting lifestyle preferences indicated in the report.
Condo Renting Data
For the rental data, logically, Cambodian nationals make up the largest share at 13.8%, but they are responsible for driving demand due to increased interest spurred by an expanding middle class, urban migration, and evolving lifestyle preferences among young professionals and families.
Among foreign renters, Americans also lead the rental stats for condos, but the overall picture is one of a diverse mix of nationalities across Asia, Africa, Europe, and the Americas.
There is less of a presence from regional renters, as Vietnamese, Malaysians, and Indonesians are present in smaller percentages.
- USA (10.6%)
- Chinese (9.8%)
- French (9.0%)
- Japanese (8.3%)
- South Africans (6.8%)
- British (5.2%)
- Australian (3.6%)
- Koreans (3.2%)
Top FAQs for Real Estate Investors in Cambodia
The report suggests that, as Phnom Penh’s condo market has matured, well-located, mid-to-high-end developments continue to attract investors seeking both capital growth and rental income. In 2025, over 9,000 condominium units are scheduled for completion.
Next week, we look at where and what condos are proving to be most popular and what trends can be identified in preferences of renters and buyers in Phnom Penh, and some hotspots to keep an eye on in the condo market.
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