Siem Reap is best known as the home of Angkor Wat, but beyond its ancient temples lies a fast-evolving city filled with opportunity. As one of Cambodia’s top tourism and lifestyle destinations, Siem Reap blends history, hospitality, and modern development. With new infrastructure, a growing expat community, and rising demand for housing, it’s becoming a hotspot not just for visitors, but also for smart investors looking for long-term value.
In 2023, Siem Reap inaugurated its largest airport, the Siem Reap Angkor International Airport (SAI). This $1.1 billion facility spans 700 hectares and features a 3,600-meter runway (Khmer Times). Initially capable of handling 7 million passengers annually, plans are in place to expand its capacity to 12 million by 2040. Moreover, in the first six months of 2024, Siem Reap welcomed over 1.9 million tourists, marking a 44% increase compared to the same period in 2023 (Ministry of Tourism Cambodia).
Likewise, the return of international tourists and the expanding local workforce are fueling demand for short-term rentals, serviced apartments, and long-stay housing. Investors are finding value in Siem Reap’s affordability compared to Phnom Penh, while still accessing good returns through:
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Airbnb-style vacation units
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Long-term leases to expats and professionals
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Staff housing for growing tourism and service businesses
Let’s take a closer look at who’s investing in Siem Reap’s property market and the types of real estate that are attracting the most interest.
Buyer Demographics
Siem Reap’s real estate market isn’t just surviving – it’s evolving. Quietly but steadily, buyers are returning, and transactions are moving. Let’s take a closer look at who’s still buying:
- Local Cambodians: Particularly those from Phnom Penh, Battambang, and Siem Reap locals looking for second or long-term investment properties in Siem Reap.
- Expatriates & Lifestyle Investors: Drawn by Siem Reap’s pace of life, growing infrastructure, and affordability, this group often seeks turnkey condos or income-generating short-term rentals.
- Retirees: Siem Reap’s affordability, cultural richness, and laid-back lifestyle have drawn many retirees relocating to the city.
Type of Property They’re Buying
With the return of tourism and long-term stay tourists in the past years, we noticed four main types of property are still driving transactions in Siem Reap: condominiums, resale villas, residential land, and short-term rental property.
In Siem Reap, the rental market for short-term properties experienced a 5% increase in 2024, with an occupancy rate of 85%. This growth can be attributed to a rising number of long-term tourists and expatriates.
Condominiums are on the rise in 2024, seeing an 8% increase in value since 2023. Developments like Sky Park, Rose Apple Square, and Angkor Grace Residence & Wellness Resort have collectively sold over 300 units in the last three years. With strata titles available, they’re a popular choice for expats, retirees, and investors looking for hassle-free ownership and good returns.
There’s also a rising demand for resale villas among expats and retirees settling in Siem Reap. These villas usually come fully furnished with a Western-style design. Prices typically ranges from $89,000 up to $950,000 depending on the location and villa’s size (based on Hunter Estate's listings, 2024).
Purpose of Investment
As we are aware from the above, the tourism sector in Siem Reap is bouncing back, and infrastructure developments are being implemented to ensure the growth of the province. Likewise, investors are flocking in to secure different assets and business opportunities across the city. Below are some reasons why they do so:
1. Attractive Rental Returns
Siem Reap offers flexible rental income opportunities for investors — whether you're targeting short-term tourists or long-term residents. You can invest in private villas, modern condos, or furnished apartments and earn steady returns all year round.
During peak seasons like Khmer New Year, Pchum Ben, and international holidays, short-term rentals often charge premium nightly rates, making it a great time to boost income. Meanwhile, long-term tenants such as expats, NGO workers, and digital nomads offer consistent occupancy with less turnover.
Investors typically see rental yields of 6%–10% per year, depending on location and property type.
There’s also a wide range of property options to suit different budgets and strategies, from affordable studio units to luxury homes in gated neighborhoods.
2. Personal Use, Exit Flexibility & Lifestyle Value
One of the biggest advantages of investing in real estate, especially in a city like Siem Reap, is the freedom and flexibility it gives you. Unlike stocks or crypto, property is a tangible asset you can use, monetize, or sell based on your changing goals. Many investors split their usage, living in the unit part of the year and renting it out the rest for steady income.
3. First-Mover Advantage in an Undervalued Market
While cities like Phnom Penh and Sihanoukville have seen sharp property price increases over the past few years, Siem Reap remains one of Cambodia’s most accessible real estate markets, offering high potential for capital growth at a relatively low entry cost.
Land Price Comparison: In Siem Reap, land in emerging residential or commercial zones still sells for around $80–$150 per sqm, depending on the location and infrastructure. By contrast, land on the outskirts of Phnom Penh can cost $400+ per sqm, while inner-city areas go for over $6,000 per sqm.
Move-In Ready Opportunities: Siem Reap offers a wide range of well-constructed, ready-to-operate properties, from stylish condos and boutique villas to commercial buildings and shophouses, all available throughout the city center and key residential districts.
How Investors Can Get Started
With the city economy on the rise, Siem Reap is among the most promising hubs for investment in Cambodia after Phnom Penh, the capital. Local and international investors are now on the hunt for opportunities to enter this less saturated market, ranging from tourism, real estate, and agriculture to education and many other industries.
Likewise, there is still a large opportunity for new investors who are looking to hop on the momentum of this market growth. Below are some strategic steps you can take to get started:
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Set Your Goal
Know what you’re aiming for: rental income, capital growth, or personal lifestyle use. This helps you choose the right property and investment strategy. -
Research the Market
Siem Reap is growing fast with affordable prices and rising demand. Focus on areas like the city center — Sala Kamreuk, Svay Dangkum, Sla Kram — and zones near the new airport. Working with consulting firms or real estate agents also allows you to understand the market landscape better. -
Check the Numbers
Rental yields in Siem Reap range from 6–10% annually, especially during peak tourism. Low entry prices make ROI achievable in shorter timelines. Always account for setup, taxes, and management fees. -
Purchase, Prepare, and Rent
Once you buy, furnish the property, register if required, and start renting out, either short-term (tourists) or long-term (expats and locals). -
Monitor Performance & Plan Your Exit
Track rental income, market value, and decide when to sell or expand. You’re in control — exit when your goals are met or reinvest in another property.
Conclusion: Why Now is the Right Time to Invest in Siem Reap
Siem Reap is no longer just a travel destination — it’s a rising investment hotspot with strong growth fundamentals. With new infrastructure like the international airport, rising tourist arrivals, and a healthy rental market, the city is becoming a magnet for savvy investors. Whether you’re looking for rental returns, lifestyle value, or long-term appreciation, Siem Reap has the right mix of affordability, demand, and opportunity.
Ready to Invest in Siem Reap?
If you're thinking about making your next property move in Siem Reap, now is the time. Contact Hunter Estate today to explore listings, get expert advice, and take the next step toward owning a valuable piece of Cambodia’s future.