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Recovery Led by Value and Infrastructure Cambodia’s real estate market is moving through a gradual and selective recovery, with buyer confidence improving but purchasing decisions remaining cautious. Demand is increasingly concentrated on properties offering strong value, good locations and reliable quality. Buyers are also placing greater importance on legal documentation, completed or reputable developments and long-term investment potential. Infrastructure remains one of the strongest drivers. Ring Road 3, the New Techo International Airport, and the continued expansion of southern and western Phnom Penh are reshaping development patterns and supporting demand for land and residential projects along key growth corridors.  Landed Homes and Growth Corridors Lead The residential market is gradually stabilising, with the strongest demand seen in affordable and mid-market properties. The borey segment remains relatively active, although affordability, financing conditions and household purchasing power continue to influence sales. Condominiums are recovering more slowly. Performance remains highly location-dependent, while existing supply and absorption continue to weigh on some projects. By comparison, growth-corridor land continues to show some of the strongest long-term potential, particularly in areas benefiting from infrastructure development and urban expansion. Outlook Cambodia’s property recovery is expected to remain gradual rather than broad-based. Affordable landed housing and growth-corridor land are likely to remain the strongest-performing segments, while condominium recovery will favour projects with competitive pricing, strong locations, good quality and clear rental demand. As investors become more disciplined, opportunities are likely to favour buyers who focus on fundamentals, infrastructure and long-term value rather than short-term speculation. The contents of this article were contributed by Sorn Seap, Head of Juwai Cambodia. Download to see insights from other country marketsDownload

Cambodia’s Property Recovery Remains Selective Cambodia’s property market remains in a gradual recovery phase, with buyer confidence improving but transaction activity still selective. Demand is strongest in strategic locations supported by major infrastructure projects. Ring Road 3, Techo International Airport and development across southern Phnom Penh continue to strengthen interest in nearby land. Buyers are also becoming more cautious. Rather than purchasing based on broad market optimism, they are prioritising completed developments, realistic pricing and well-connected locations. This shift means recovery is not happening evenly across all property segments. Properties with clear infrastructure advantages and stronger long-term demand are performing better than projects relying mainly on speculative interest.  Infrastructure-Led Land Outperforms The residential market remains generally stable, although demand is concentrated in selected projects and locations. The borey market continues to face pressure from weaker purchasing power and high existing supply. Cambodia’s condominium segment is also experiencing slow absorption, with limited investor demand affecting sales momentum. In comparison, land within major growth corridors is currently the strongest-performing segment. Infrastructure improvements are making these areas more accessible and commercially relevant, which supports both buyer interest and longer-term appreciation potential. The market increasingly rewards projects that offer clear value, practical locations and completed or visible development progress. Sellers and developers may therefore need to adjust pricing expectations and focus more closely on buyers’ concerns around quality, delivery and usability. Outlook Cambodia’s property recovery is expected to continue at a measured pace. Growth corridor land should remain the most promising segment, especially near major transport and infrastructure developments. Borey and condominium markets may improve gradually as economic confidence and purchasing power strengthen. For investors, the strongest opportunities are likely to remain in well-located, realistically priced and infrastructure-supported assets, rather than across the broader market. Download to see insights from other country marketsDownload

Cambodia Property Market Moves Into a More Disciplined Phase Cambodia’s property market in mid-2026 is showing signs of stabilisation, but recovery remains uneven across different segments. Headline prices are still correcting. The National Bank of Cambodia’s residential price index fell 3.67% year-on-year in January 2026, after a 3.8% decline in 2025. Phnom Penh recorded a sharper fall of 4.52%. However, the market is not moving in one direction. The borey landed housing segment remains one of the most active areas, supported by a growing middle class and better financing access. At the same time, the high-end Phnom Penh condo market showed some recovery in late 2025, with average prices rising around 5% to above US$2,800 per square metre in Q4. Cambodia also remains relatively affordable compared with other Southeast Asian capital-city markets, while rental yields are holding at a realistic 6% to 8% range. Infrastructure and Logistics Support Long-Term Demand The strongest growth drivers are now linked to infrastructure and real economic activity. The launch of Techo International Airport in September 2025 has redirected Phnom Penh’s expansion southward, while areas connected to Ring Road 3 and the new airport have seen land values rise sharply over the past decade. The industrial and logistics sector is also performing strongly, supported by regional supply-chain diversification. Meanwhile, the deferred 20% capital gains tax on immovable property until 1 January 2027 gives sellers a clear window to transact under the current tax regime. Outlook Cambodia’s property market is unlikely to see a broad-based surge in the near term. Instead, growth is expected to be gradual, disciplined and highly segmented. Affordable and mid-range properties in infrastructure-linked areas should outperform, while oversupplied luxury condos may remain challenging. For patient investors, 2026 presents a value-oriented entry window, especially in landed housing and growth-corridor land. Download to see insights from other country marketsDownload

Cambodia’s real estate market is gradually entering a more sustainable growth phase in mid-2026, supported by improving buyer confidence, infrastructure expansion, and stronger end-user demand. While the market remains selective, affordable housing and strategic land continue to attract the greatest interest from both local and regional investors. Economic growth is expected to remain stable at around 4.2% to 4.5%, supported by major infrastructure projects including the New Techo International Airport, Ring Road 3, and expanding urban transport networks. These developments continue to strengthen long-term confidence in Cambodia’s property market and improve connectivity across key growth corridors. The strongest-performing segment remains Borey landed housing, driven by middle-class demand, flexible payment plans, and improving financing access. Meanwhile, the condominium market is gradually stabilising as rental demand improves, although oversupply continues to affect selected locations. Investors are increasingly focusing on projects with strong fundamentals rather than speculative opportunities. Infrastructure-linked land remains another key growth area. Locations along the New Airport Corridor, as well as emerging districts in southern and western Phnom Penh, continue to attract attention. Areas such as Chroy Changvar, Sen Sok, Kamboul, Diamond Island, and Olympia City are benefiting from infrastructure investment and urban expansion. Buyer behaviour is also evolving. Today's purchasers are becoming more data-driven and selective, prioritising strong developers, Hard Title properties, infrastructure connectivity, and long-term value potential over short-term speculation. This shift is helping create a healthier and more sustainable market environment. Outlook Cambodia's property market is expected to strengthen gradually through the second half of 2026. Affordable housing, infrastructure-led developments, and long-term land investments are likely to remain the strongest opportunities. While condominium recovery may continue at a slower pace and remain location-dependent, the broader market is benefiting from improving fundamentals, growing infrastructure investment, and rising confidence among long-term investors. Download to see insights from other country marketsDownload