Property for sale in Phnom Penh

Real estate agents predict that Phnom Penh is at the beginning of a growth era, like Bangkok 20 years ago or Ho Chi Minh City 10 years ago. Property prices are cheap but they are increasing. A traditional house along the river that sold in 2006 for $300,000 is now going for $600,000 to $700,000.

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A decade ago the capital Phnom Penh didn’t even have one traffic light, now high-rise condos and offices are springing up as investors rake in the profits

But Phnom Penh’s economy has been expanding rapidly as a result, up by 9.6 percent in 2007, and by more than 10 percent per year during the previous three. Tourism arrivals have also grown, to 2 million in 2006, and by a further 20 percent in 2007.

Cheaper property for sale can still be found. Apartments in the chic riverside quarter of Phnom Penh start from as little as £49,000. Popular French colonial apartments are being refurbished and modernised and are expected to appreciate by 15 to 20% per year.