Phnom Penh Condo Asking Prices

A sale listing answers one narrow question: what price is the seller, agent or developer presenting to the market now? That number is useful because it shows the visible competition a buyer faces, but it is not a record of the amount ultimately agreed between buyer and seller. Some prices are firm, some leave room for negotiation, and a project page may advertise the cheapest unit in a range instead of the apartment shown in the photographs. This page therefore measures the asking market on purpose.

The second complication is identity. A single apartment can be marketed by several agents at the same time, sometimes with different descriptions or prices. Old cards can remain searchable, and project pages can sit beside genuine resale units. Area is another trap: a listing may expose a floor-area number in one field while the description distinguishes net and gross space. Treating every visible row as an independent, perfectly comparable home would manufacture precision that the public data do not support.

The price snapshot is dated 29 September 2026. Apartments are kept in separate comparison groups by district, bedroom count, size and completion status, so the page does not force a misleading citywide headline price. Price per square metre is shown only where the underlying area can be used consistently enough for the comparison; when the area basis is mixed or unclear, the total asking price is retained but the per-square-metre figure is withheld.

Total price and price per square metre answer different buyer questions. The total tells you the budget needed to acquire that type of apartment; the rate per square metre helps reveal whether a price gap is mostly a size effect. The second measure still does not turn a 35 sqm one-bedroom, a large two-bedroom and an off-plan apartment with staged payments into equivalent purchases. That is why district, bedroom count, size band and completion status stay visible alongside the price figures.

The 29 September snapshot contains 50 identifiable condo offers across five comparable groups. Studios, project-level starting prices and clearly under-construction stock are not folded into ready/resale comparisons. A single Phnom Penh median is deliberately absent because it would combine small one-bedroom units in Sen Sok with larger central apartments and two-bedroom homes in a different budget bracket. The result would be easy to quote and hard to use.

The one-bedroom groups show the clearest spread in total price. BKK and nearby central areas, using 41–62 sqm units, have a median asking price of USD 99,000, with the middle half running from about USD 79,500 to USD 132,000. Small 30–39 sqm one-bedroom units in Sen Sok sit at a USD 50,000 median and a USD 44,000–55,000 middle range. Chroy Changvar, where the one-bedroom units in the comparison span 34–64 sqm, comes out at USD 59,400, with the middle half at roughly USD 51,800–65,800. Those gaps are not pure location premiums: the buildings, unit sizes and product tiers are not identical.

Per-square-metre pricing removes part of the size effect, but not the differences in project quality or area measurement. Central one-bedroom cards with a consistent area basis have a median near USD 1,930/sqm. Chroy Changvar is around USD 1,170/sqm and Sen Sok around USD 1,470/sqm. Sen Sok is the less stable of those three: removing the most represented project moves the per-square-metre median by roughly 11%, which is large enough to treat the figure as a range marker instead of a finely calibrated market value.

Two-bedroom stock tells a different story again. The 73–109 sqm Chamkarmon/Tonle Bassac group has a median total ask of USD 185,000, with the middle half between roughly USD 115,000 and USD 220,000. The 46–99 sqm Toul Kork group has a median of USD 92,000 and a middle range of about USD 85,000–121,000. A single Toul Kork price-per-square-metre figure is not shown because the usable cards do not label the area basis consistently enough to compare that figure with groups calculated from explicitly gross area.

Use the table as a reference range, not as a valuation. A unit well outside its peer group may have a perfectly defensible reason — floor, view, renovation, furniture, payment structure or a stronger building — but that reason should be visible and specific. A price gap is the beginning of the question, not the answer.

The width of each range is useful in its own right. In the central one-bedroom group, the gap between the lower and upper quartiles is more than USD 50,000 even after bedroom count and size have been narrowed. A single “average BKK price” therefore hides substantial building-level variation. Sen Sok is tighter on total price, but the group is smaller and its per-square-metre figure moves more when one project is removed, so it is better read as a current market reference than as a durable benchmark.

Snapshot: 29 Sep 2026. Ranges show the middle 50% of asks within each group. The table covers 50 distinct units; per-square-metre figures are shown only where the area basis is clear enough for a defensible comparison.

The largest visible gap is not simply a central-versus-outer-district effect. Location matters through access, surrounding demand and the kind of projects built there, yet one district can contain buildings with very different age, management and positioning. The roughly USD 1,930/sqm median for the usable central one-bedroom subset and the roughly USD 1,170/sqm figure in Chroy Changvar describe those particular peer groups. Even within the central set, the middle half stretches from about USD 1,520 to USD 2,130/sqm, which is too wide to explain by postcode alone.

Unit size changes both the budget and the denominator. A compact one-bedroom can carry a high price per square metre while remaining cheaper in total, whereas a larger two-bedroom can show a lower rate per square metre and still require much more cash. That is why the table keeps bedroom count and size band visible instead of treating USD/sqm as a universal normaliser. Layout efficiency and the number of realistic buyers also change as units get larger.

Completion status is a separate pricing layer. A ready resale can be inspected in an operating building and usually has a straightforward headline cash price. A developer offer may bundle an instalment plan, launch incentive, furniture package or a starting price that applies to only one configuration. Knight Frank's H2 2025 report put existing Phnom Penh condominium supply at about 63,334 units and separately reported an average selling price of roughly USD 676/sqm of net saleable area for new launches. That lower launch metric is not a contradiction with the ready/resale figures on this page: it covers a different mix of projects, a different stage and a different area definition.

Project-level differences remain large after location and size are controlled. Floor, view, orientation, furnishing, renovation, title, building age and day-to-day management can all move the asking price. A premium cannot be justified simply by calling a building premium; the buyer needs to see what is actually different about the unit and the building. Conversely, a cheaper apartment may be cheaper for a reason that has nothing to do with bargaining power.

Area definitions are the easiest way to create a misleading USD/sqm comparison. One Le Condé BKK1 card illustrates the problem clearly: the asking price is USD 130,000, the main field shows about 45 sqm, while the description distinguishes roughly 45.74 sqm net from 60.99 sqm gross. The same USD 130,000 becomes about USD 2,840/sqm on the smaller base and about USD 2,130/sqm on the larger one — a difference of roughly one third without changing the apartment at all. The unit can still inform the total-price comparison, but it should not be allowed to distort a per-square-metre median whose area basis is meant to be consistent.

That also prevents USD/sqm from becoming a district ranking. A buyer pays for an apartment, not for an abstract square metre: total size, condition, common facilities, building operation and the usefulness of the layout all sit behind the rate. A higher central rate can still come with a lower total purchase budget if the apartment is compact, while a cheaper rate on a large unit may require substantially more cash. The practical comparison starts with the closest substitute apartment and then asks which specific features explain the premium or discount.

A project-level starting price is the first kind of listing that falls out of a unit comparison. “From USD X” may refer to one layout, floor or promotion, while the photographs and size range describe several other units. A comparable needs the price and area of the same apartment. The same rule keeps an under-construction developer offer with an instalment plan separate from a ready resale priced for an immediate purchase.

Duplicate exposure is more subtle. Chroy Changvar provides a useful example: Smart Loft/Morgan EnMaison units with the same or very similar sizes appear in several advertisements at different asks. They may represent different floors, or they may be competing advertisements for the same physical unit. Without a unit number, view, floor or another distinguishing feature, the number of cards should not be mistaken for the number of independent comparables. A district figure also becomes less representative when one building dominates the visible stock.

An unusually cheap listing is not automatically a bargain, and an expensive one is not automatically better. Urgent-sale language, a short promotion, missing furniture, renovation needs, a weak floor position or an exceptional view can all create legitimate outliers. The key is whether the reason for the price gap can be identified. Until it can, the outlier is a question to investigate not proof of underpricing or overpricing.

Age can disqualify an otherwise perfect-looking comparable. Search engines and portals can continue surfacing a card after availability or terms have changed, while price-on-request listings confirm that a segment exists but contribute no numerical price. For a live purchase decision, the useful comparable is one whose unit, price, area, stage and current availability can still be established. Older or incomplete cards may provide context, but they should not quietly carry the same weight as a current, identifiable unit.

Furnishing and payment terms can also separate two listings that look identical on area alone. A recently renovated furnished unit and an empty apartment that needs immediate spending do not create the same all-in purchase cost. Developer stock may attach a discount to a fast payment schedule, while a resale listing may include furniture or carry building-related obligations that are not obvious in the headline ask. Those differences do not justify inventing a mechanical adjustment; they explain why a genuine outlier needs its terms understood before it is labelled cheap or expensive.