PHNOM PENH — Land prices in Boeung Keng Kang, historically the most expensive district in Phnom Penh, have seen a noticeable decline during the first half of 2026. According to a market evaluation by the Cambodian Valuers and Estate Agents Association (CVEA), property prices in prime locations of the district—which previously topped $10,000 per square meter—peaked at just $7,800 per square meter in early 2026.
Prices vary across individual communes throughout the district. In Boeung Keng Kang 1, land along main roads ranges from $4,100 to $7,800 per square meter, while side roads cost between $3,700 and $4,500. In Boeung Keng Kang 2 and 3, main road prices stand between $3,700 and $5,600, with side roads ranging from $2,000 to $3,500 per square meter.
In Olympic commune, main road plots sell for $3,800 to $6,600 per square meter, while side road land ranges from $2,000 to $3,900. Tumnob Tuek values stand between $2,500 and $5,200 on main roads and $2,000 to $3,600 on side roads. Tuol Svay Prey 1 ranges from $3,400 to $6,200 on main roads and $2,000 to $3,600 on side roads, while Tuol Svay Prey 2 sees main road values of $3,200 to $5,900 and side road values of $2,000 to $3,400 per square meter.
Mr. Oeurn Theara, Co-founder and Chief Executive Officer (CEO) of CAM Realty, noted that prime inner-city land in areas like Boeung Keng Kang is primarily purchased by real estate developers for immediate construction projects rather than land speculation. Because values in central Phnom Penh remain high, transaction volumes in the district stay relatively low. By contrast, buyers are turning toward southern districts such as Dangkao and Meanchey. These outlying areas offer affordable land suitable for developing residential communities and gated housing developments.
In addition, Mr. Cheng Vuthy, Chairman and CEO at INVA Real Estate Investment and Valuation Co.,, pointed out that property sales in 2026 are primarily driven by distressed assets, particularly bank-foreclosed properties. Buyers are actively seeking these properties because they are priced 20 to 30 percent below market value.
Date Released: 6th, September 2026