In 2026, Cambodia’s real estate market continues to recover from the 2020–2023 crisis, with foreign investors once again playing a key role in its revival. Phnom Penh and Sihanoukville remain the main hubs of the market. While the capital generates more stable demand for residential properties and offices, Sihanoukville remains focused on tourism and investment real estate.
Housing prices in Phnom Penh average $1,500–3,000 per square meter, while in Sihanoukville the range can vary from $1,200 to $2,500 per square meter. At the same time, the market for premium projects has not yet fully recovered after the overheating of previous years.
Cambodian law allows foreigners to purchase apartments but prohibits land ownership, making condominiums the primary investment vehicle.
A distinctive feature of the Cambodian market is its high dependence on foreign capital. In the pre-crisis period, foreign investors accounted for up to 70–80% of demand in certain segments.
Even after the correction, Chinese investors remain the largest group of buyers, especially in Sihanoukville, where large-scale projects involving Chinese capital were previously implemented. Investors from South Korea, Singapore, and Malaysia are also present in the market.
Russians and Ukrainians have a limited presence in the Cambodian market, mainly in the form of private investments in affordable real estate or rentals; however, their share remains minimal and does not affect the overall structure of demand.
Overall, Cambodia remains a market highly dependent on foreign investors, but with a higher level of risk compared to Thailand and Vietnam.
