Phnom Penh
Current population
Of the 15.67 million people in Cambodia, over 2 million people or 14 % of the country’s total population live in and around in Phnom Penh. The population in Phnom Penh grows at a faster rate than in the country overall, with an estimated 8% per annum made of a 3% in-migration rate and a 5% natural increase.
GDP
GDP: $37,078,276,110 (2012)
GDP % change: 7.3% (2012), 7.2% (2013 f.), 7.5% (2014 f.)
Rental demand increase
Cambodia’s property sector continues to grow, offering opportunities for both
foreign and local investors. The growing number of people moving to the capital
as well as the rise of property developments highlights the increasing demand for
rentals by locals as well as foreigners.
Sales Price Growth
Land prices rose by an average of 15% during the first half of 2013 from the same
period a year earlier, to US$2,350 per square meter (sq. m.), according to local real
estate experts. Rents range from US$9 per sq. m. to US$13 per sq. m. per month.
A 65 sq. m. flat costs US$600 per month to rent. A 120 sq. m. flat costs more than
twice as much, at around US$1,500 per month.
Rising Property Market – 10-15% P.A.
Cambodia’s housing market enjoyed unprecedented price rises from 2004 to 2007,
with property prices rising by about 25% to 40% annually.
Rental prices are currently rising by 10-15% annually.
Rental Growth Return on Investment 3.27% to 5.33%
Gross return on investment in a flat if fully rented out, ranges from 3.27% to 5.33%.
Median Rental Premium Apartment
- The average monthly rent for a one-bedroom class-A units were KHR1.56 million
(US$400) to KHR3.91 million (US$1,000) in Q2 2010, down by up to 23% from KHR1.95
million (US$500) to KHR5.1 million (US$1,300) from the previous quarter. - Two-bedroom apartments rent for KHR4.7 million (US$1,200) to KHR5.86 million
(US$1,500) per month in Q2 2010, down by up to 42% from the same quarter last year - The average monthly rent for a three-bedroom class-A apartments located in central Phnom Penh was KHR8.6 million (US$2,200) to KHR9 million (US$2,300) in Q2 2010, down by up to 22% from the previous quarter.
