Cambodia property market snapshot: sourced and dated

This snapshot is neither a forecast nor an offer. We've gathered the external macro context the Cambodia property market sits in — economic growth, demographics, urbanisation and risks — with a source and date for every figure. The goal is an honest frame for a decision, not to convince you that "prices will surely rise". Where no reliable public figure exists (rental yield, oversupply), we say so plainly instead of plugging in a tidy estimate. Every conclusion is context, not a guarantee for a specific property.

Macro context: economic growth

Cambodia's macro backdrop is positive but not linear. Per World Bank historical data, real GDP growth was 6.0% in 2024 and 5.3% in 2025. The Asian Development Bank forecast (ADB, Asian Development Outlook, April 2026) is 4.5% for 2026 and 5.0% for 2027. It's important to keep the historical series and the forecast separate: the first is a fact, the second an estimate.

World Bank data is a historical series (checked 2026-07-05). ADB forecasts are from the Asian Development Outlook, April 2026. A forecast is not a guarantee; actual results may differ.

Risks per the IMF assessment

The International Monetary Fund (IMF), in its 2025 Article IV consultation materials (published 2025-12-02), gives a more cautious picture: 2024 growth is assessed at around 6.0%, the 2025 projection at around 4.8%, and the 2026 projection at around 4.0%. The IMF separately flags downside risks: financial-sector vulnerabilities, external trade-policy uncertainty and border tensions. We include this not to alarm but to show that even a positive macro backdrop has a flip side, and different institutions' estimates diverge.

Demographics and urbanisation

Per World Bank data, Cambodia's 2025 population was about 17.85m, with the urban share at about 41.1% (2025). Rising urbanisation is one structural driver of demand for city housing, but on its own it does not guarantee price growth for a specific project. It's a backdrop, not a yield driver for an individual property.

World Bank national series (checked 2026-07-05). A verified Phnom Penh-only population figure from the official source (NIS) could not be confirmed in this pass — so we don't publish it, to avoid presenting incomplete data as a fact.

A key distinction: asking vs transaction

When reading any market figures, keep one distinction in mind. Asking means the prices and rents in listings — what sellers and landlords request. Transaction means the prices of deals that actually closed. The former is almost always higher than the latter and is not equal to the real outcome. We keep such reference points visually and textually separate from a developer's contractual income programme (GRR): these are different kinds of figures, and mixing them is incorrect.

Yield and oversupply: what we don't publish

Honesty requires stating plainly what this snapshot does not contain. We did not find a reliable, recent public rental-yield benchmark for Phnom Penh with a date at the time of preparation — so we don't publish a single yield figure as a fact. The same applies to oversupply: no quantified public metric with a date could be found, so we don't quote an "oversupply" figure and limit ourselves to a qualitative statement.

What can be said qualitatively and without a figure: supply conditions vary by district and project; the mass condo segment grew faster than others, which creates pressure in over-densified locations. The market yield reference often cited in the 6–10% range is exactly that — a reference, not a confirmed dated benchmark — and the actual yield depends on the property, the district, vacancy and management costs.

Segments and districts: context, not generalisation

The Phnom Penh market cannot be described with one average figure — the segments are too different. Here is how to read the district context correctly.

District context is a qualitative frame, not a yield forecast. Specific project figures are verified individually and set out in the project page.

Infrastructure context: major projects and dates

Major transport and urban infrastructure shapes how a project's location reads — but on its own it does not guarantee price growth, liquidity or rental demand. Below are only major items with a confirmed date or status and a source. This is context for understanding the district, not an argument that "therefore prices will rise".

Techo airport: stated capacity differs by source — AP cites an initial capacity of 13m passengers per year, the official airport site states up to 15m in the first phase; we give both figures with source attribution. OCIC items (Koh Pich, Canadia Tower 2009, Tourism City 2017) are launch/development milestones, not proof of a completion year for Diamond Bay Garden. Exact opening dates for AEON Mall Phnom Penh and AEON Mall Sen Sok could not be confirmed from official pages as of the check date (2026-07-05) — so we don't publish them. No infrastructure item is presented as a promise of price growth.

Frequently asked questions

How is Cambodia's economy growing?

Per World Bank data, real GDP growth was 6.0% in 2024 and 5.3% in 2025. The ADB forecast (April 2026) is 4.5% for 2026 and 5.0% for 2027. This is macro context, not a forecast of property prices.

What is the rental yield in Phnom Penh?

We did not find a reliable, recent public yield benchmark with a date at this time, so we don't publish a single figure as a fact. Asking prices and rents in listings are requested figures, not the prices of actual deals.

Is there an oversupply in Phnom Penh?

We did not find a quantified, dated public oversupply figure at this time and do not publish one as a fact. Qualitatively: supply conditions vary by district and project, and the mass condo segment grew fastest.

What risks do international sources point to?

IMF 2025 Article IV materials point to slower projected growth in 2025-2026 and flag risks: financial-sector vulnerabilities and external trade-policy uncertainty. The macro backdrop is positive but not linear.

Sources

World Bank — real GDP growth, population and urban-share series for Cambodia, checked 2026-07-05 · Asian Development Bank (ADB), Asian Development Outlook, April 2026 — GDP growth and inflation forecasts · International Monetary Fund (IMF), 2025 Cambodia Article IV consultation, published 2025-12-02 — growth assessment and risks · infrastructure block: AP News (Techo airport opening, 2025), official site techoairport.com.kh, Khmer Times (Sihanoukville 2022 / Bavet 2023 / Siem Reap–Poipet 2023 expressways), OCIC (Koh Pich, Canadia Tower, Tourism City), AEON Mall Cambodia (Mean Chey, opened 2023-04-07), all checked 2026-07-05. Data is given as macro and location context. Forecasts and infrastructure projects do not guarantee future results; rental-yield and oversupply figures are deliberately not published due to the absence of a reliable dated public source at the time of preparation.