Real estate in Phnom Penh, as well as in Cambodia in general, is booming. Phnom Penh, the capital of the country, is in the center of all things and where trends are set. The prices of residential real estates in Phnom Penh are driven by the masses that want to make a living there. The question is where to buy? Which neighborhood will suit you the most, your budget, as well as your preferences? Here are a few recommendations that can help you with that choice.
Working class folks
Let’s assume that you belong to a middle class, and your income is in that range. If that’s the case, then you might consider the Prampir Makara district, Tuek Thla, Olympic Stadium, and maybe some parts in BKK3. The prices are not as steep as in the other parts of the city, and there are plenty of houses. However, that doesn’t mean you can’t come across some high-end houses for sale in those areas as well.
High middle-class folks
People say that you haven’t seen Phnom Penh in its true colors if you haven’t seen the central market. The Central Market District is a dome-shaped facility where you can buy anything from Krama scarves to the latest electronics. Residential real estate prices are bit steeper here compared to the districts mentioned above. But in their defense, everything is in walking distance. Therefore, no transport costs, so things tend to balance on their own. There are also plenty of restaurants, coffee shops, open playgrounds, and so on.
Sisowath Quay is the place where folks with deep pockets are looking for houses for sale in Phnom Penh. This is an area that is filled with high-end real estate that only wealthy folks can afford. Not only all residential buildings are luxurious, but everything else as well. Restaurants, coffee shops, shopping malls, schools, and all surrounding infrastructure follows the highest standards. Many of the houses and apartments come with a picturesque view of the riverside.
BKK1 is also set alongside the river and offers homes and apartments. Mekong River at night with all those lights reflecting from the weather is a sight for sore eyes. Anyone that has been in the area understands why so many foreigners decide to settle there. Then there are numerous restaurants, boutiques, bars, coffee shops, the national museum, and so on. It is the face of the new Phnom Penh, one that is modern and stylish.
Prices of houses and real estate in Phnom Penh will continue to grow in the foreseeable future. Whether you are a looking for a modest home or a luxury villa, buying sooner than later is recommended. Remember, you are not just buying a home for you or your family, but you are investing as well. If you want to make, most of both things act now and buy your new home before prices grow again.