Siem Reap is a charming and the most historical city in Cambodia’s northwest region, known for its rich cultural heritage and stunning natural beauty. The city is the gateway to the world-famous Angkor Wat temple complex, one of the largest religious monuments in the world, and a UNESCO World Heritage site, attracting millions of local and international tourists every year.
Beyond its ancient temples, Siem Reap offers a vibrant blend of traditional and modern Cambodian culture. Visitors can explore the majestic city, bustling markets, and the famous Pub Street neighborhood, dine on delicious and exotic Khmer cuisine, and experience traditional and modern dance performances.
Additionally, Siem Reap offers plenty of opportunities for outdoor activities such as hiking, cycling, exploring the Tonle Sap Lake, and other adventures. Many new parks and tourist attractions, such as the Angkor Botanical Garden, the Angkor Wildlife & Aquarium, and others, have opened, giving residents and visitors many more things to do beyond the temples.
Cambodia has experienced political stability and significant economic growth over the past decade, with an average annual growth rate of 7.7% between 1998 and 2019, making it one of the fastest-growing economies in the world. This growth rate is higher than the average for neighboring countries such as Laos, Thailand, and Vietnam.
Furthermore, the estimated cost of living in Siem Reap is cheaper than those of neighboring countries’ main tourist cities. On the low end, Siem Reap costs only $450 per month versus $500 per month for the next cheapest city in the neighboring country. On the high end, the average monthly cost of living in Siem Reap is about $850 versus $950 per month.
Chart of the average monthly cost of living in different tourist cities.
The Siem Reap International Airport is located approximately 6 km west of the city center, making it a very short trip to get into the city center when traveling by air. As of 2023, international direct flights are available from China, Laos, Malaysia, Philippines, Singapore, South Korea, Thailand, and Vietnam. Travelers without direct flights to Siem Reap from their home countries can also take a short 45-minute connecting flight from Phnom Penh on a number of boutique airlines.
According to the Ministry of Tourism, Siem Reap received over 2 million tourists annually before the Covid-19 pandemic and is expecting much more in the coming years. To accommodate the projected increase in international tourists and air travelers to Siem Reap, a new international airport is currently being constructed and is expected to be operational by the end of 2023 or early 2024, with a capacity to welcome 10 million passengers a year by 2030.
Furthermore, to accommodate the increase in local tourists, improve land travel, and reduce travel time between Phnom Penh and Siem Reap, a new expressway connecting the two cities is currently undergoing feasibility studies, as announced by The Minister of Public Works, Senior Minister Sun Chanthol on December 20, 2022, with a deal expected to be done by later this year.
Additionally, The Royal Government of Cambodia is currently implementing the “Tourism Development Master Plan Siem Reap 201-2035” with the objective of transforming the province into a major and attractive tourist destination in the region and the world by developing priority tourism zones, developing new tourism products, and developing infrastructure, among others.
The combination of political stability, continued economic growth, the year-on-year increase in tourism and its potential, low cost of living, and accessibility, make Siem Reap one of the most attractive places in the world to invest in real estate, especially in residential, vacation, or short-term rental properties.
Three of the most modern and unique development projects in Siem Reap are Angkor Grace Residence and Wellness Resort, Bakong Village, and Rose Apple Square, each offering those looking for a new home or investment property with guaranteed returns, strong potential or just an overall special place to live and experience. With strata titles available to foreigners, non-Khmers can also purchase and own units at Rose Apple Square and homes from the first floor up at Angkor Grace Residence and Wellness Resort, making investments into these two projects truly worth looking into.
Angkor Grace Residence and Wellness Resort and Rose Apple Square are located almost directly in the center of Siem Reap and are less than 3 kilometers from the popular Pub Street, about 3 kilometers to Angkor Wat, other popular attractions, and less than 10 kilometers from Siem Reap’s International Airport. For those seeking a quiet residence away from the bustling city, Bakong Village may be the perfect community to live in, located on 60 Meter Road, 8 kilometers from the city center and along the way to the new International Airport.
Designed with the discerning investor in mind, Angkor Grace boasts a green-centered development, with nearly 50% of the property dedicated to green space, gardens, and tree-lined footpaths. The development is built on 2.2 hectares of land, with a little over 300 units, including 60 fully-furnished 2-bedroom suites. Main amenities include a large adult swimming pool and a children’s pool, 24-7 security, the largest fitness center in Siem Reap, a wellness center and spa, restaurants, cafes, and a health clinic.
Prices start at about $183,000, with up to a 10% discount. Best of all, buyers have the option to purchase any of the homes as their own private residences or as a leaseback and earn an annual guaranteed return on rental of 7% from the first 5 years and 8% from the 6th to 10th year with a 14-day annual complimentary stay.
Rose Apple Square is a state-of-the-art mixed-use development comprising condominiums, office spaces, and commercial spaces with shared amenities and facilities. It is designed to provide a modern and sustainable living environment while preserving the local Khmer culture and heritage. Located on Rose Apple Boulevard, only 950 meters from Pub Street, this development is perfect for individuals, young families, and corporate investors who are looking for the ultimate urban lifestyle.
The entire complex is 7 stories high and consists of 245 condo units ranging from studio-type to 3-bedroom units, all with ample balcony space. Three levels of the complex are reserved for strata-titled office space for sale and leasing. Shared amenities include a fitness center, an outdoor swimming pool, a dance studio, an outdoor yoga deck, an open courtyard and greenspace, a children’s playground, a laundromat, a convenience store, 24-hour security, reception, a large parking garage, and a state-of-the-art 150-capacity auditorium. Prices for each unit start from approximately $90,000.
Bakong Village, designed by renowned Swiss architect Martin Aerne and his architecture firm, offers a tranquil haven less than 9 kilometers from Siem Reap’s city center. This modern development blends traditional village concepts with contemporary living, fostering meaningful connections among neighbors. Located along 60 Meter Road towards the new International Airport, Bakong Village is easily accessible by car. It boasts 245 villas and 105 shophouses on 4.7 hectares of land.
Emphasizing community and safety, Bakong Village offers tree-lined streets, ample greenspaces for leisure activities, and “clusters” of homes that encourage social interaction among residents. The development’s strategic design ensures that essential amenities are within walking distance, promoting a vibrant and connected lifestyle for families and individuals alike. Families can choose from two or three-bedroom villas designed to cater to various stages of life. The shophouses, available in two types, feature family-focused layouts and line the main roads, providing both residential and commercial opportunities. Prices start at around $70,000.
Siem Reap is an enchanting city with many opportunities for local and international home buyers and investors. The unique combination of rich cultural heritage, stunning natural beauty, booming tourism, affordable living costs, and promising future infrastructure developments make it an ideal place to invest in real estate. The city’s expanding economy is ripe for exploring distinctive and modern developments like Angkor Grace Residence and Wellness Resort, Rose Apple Square, and Bakong Village.
These projects offer diverse options, catering to different lifestyles and preferences while providing excellent investment potential, guaranteed returns, and a comfortable living environment. Whether you’re looking for a serene getaway from the bustling city, a sustainable and modern living space in the heart of Siem Reap, or a mixed-use development that combines residential, commercial, and office spaces, these projects have something to offer everyone.
Take advantage of this opportune moment to invest in Siem Reap’s thriving real estate market and secure a home or investment property in one of these unique developments. Experience the charm, history, and vibrancy of Siem Reap while enjoying the benefits of modern living, all while building a valuable asset for your future.
To book a viewing of Angkor Grace Residence and Wellness Resort, Bakong Village, or Rose Apple Square or for more information on Siem Reap’s real estate market contact us at
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