Due to its rapid development, many people decide to move to Phnom Penh and live there. The city is growing with an exponential pace as more and more new houses and buildings are being built from time to time.
Whether you are a foreigner or a Cambodian but from another city, trying to find property for rent in Phnom Penh, you will find this guide super helpful. Here we will present some of the most prosperous neighborhoods in the city of Phnom Penh.
BKK1 – formerly known as Boeung Keng Kan
BKK1 is a neighborhood that was once filled with leafy villas. However, almost all of them have been replaced by modern houses, condo blocks, coffee shops, restaurants, bars, and flashy hotels. As a matter of fact, BKK1 is the city’s first victim to gentrification. If you to talk to some of the locals, they will tell you that the neighborhood has lost much of its charm. Nevertheless, BKK1 has all the commodities of modern living, and there are still parts where the old spirit of the neighborhood still lives.
This neighborhood is a bit far from the center and closer to the airport. But it is very popular with expats and foreigners. One of the reasons for that is its proximity to some of the best international schools. That created a demand that was pleased with new blocks of condos and modern houses. Same as in BKK1, there are all the amenities of modern living – fast food restaurants, coffee shops, bars, cinema, green market, and many other local shops.
Unlike BKK1 and Tuek Thla, Daun Pen is home mainly to a local crowd. Rents are quite affordable, and almost all residential buildings are adapted to western standards. The neighborhood is just north of the city center and is home to the Sorya shopping mall, Wat Phnom, and Central Market. The area is mainly populated by families that have lived there for generations.
Sisowath Quay (Riverside)
While expats call it Riverside, the locals know it as Sisiwath Quay. The reason for that is because there are plenty of riverfront houses and apartments placed among the many restaurants, bars, and hotels. The area is very popular with tourists and expats. The amazing waterfront and the constant flow of expats and tourists made real estate prices to skyrocket.
Toul Tom Poung
Just a few years ago there wasn’t much to see or do in this neighborhood as there were only a handful of coffee shops. Fast-forward a few years and here we are, a thriving community that has it all – plenty of new small businesses, restaurants, coffee shops, bars, the Russian Market, schools, playgrounds, and a lot more. Developers are investing heavily in this area as new residential buildings are popping out like mushrooms after a summer rain. Rent prices are decent, but many experts predict that will change soon. They predict that rents will grow with a two-digit pace every year from now and on.