What is the average Class A rent in Phnom Penh?

Around 264 USD/sqft/yr ($264 USD) across the broader Class A index. Trophy submarkets like Daun Penh command 20–40% above that.

How many months of rent-free are normal in Phnom Penh?

6 months on a 3-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Phnom Penh?

The Phnom Penh Class A market is currently softening. Vacancy is 22.4%, which sets the negotiating context.

Headline Class A rent in Phnom Penh is around 264 USD/sqft/yr ($264 USD), with 6 months of typical rent-free on a 3-year term.

Headline Class A rent: 264 USD/sqft/yr ($264 USD).
Trophy submarket rents (Daun Penh) push to roughly $312/sqm/yr · ≈ $29 PSF/yr USD.
Typical concessions on a 3-year deal: 6 months free rent.
Vacancy stands at 22.4% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Phnom Penh Class A office rents and incentives

Headline Class A rent in Phnom Penh is around 264 USD/sqft/yr ($264 USD), with 6 months of typical rent-free on a 3-year term.

TL;DR

Headline Class A rent: 264 USD/sqft/yr ($264 USD).
Trophy submarket rents (Daun Penh) push to roughly $312/sqm/yr · ≈ $29 PSF/yr USD.
Typical concessions on a 3-year deal: 6 months free rent.
Vacancy stands at 22.4% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Phnom Penh are quoted in USD per sqft per year. Across the broad Class A index the figure is 264, but the trophy tier in Daun Penh reaches roughly $312/sqm/yr · ≈ $29 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Phnom Penh concessions on a 3-year Class A lease run to 6 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Cambodian corporate tax of 20% (with SEZ incentives reducing to 0% for qualifying years). 10% VAT.

Where rents land by submarket

Daun Penh sits at the top end (~$312/sqm/yr · ≈ $29 PSF/yr USD). Boeung Keng Kang clears around $264/sqm/yr · ≈ $24.5 PSF/yr USD as the prime tier. Sen Sok / Toul Kork represents the value end at ~$216/sqm/yr · ≈ $20.1 PSF/yr USD. The full submarket map is on the Phnom Penh city page.

Key facts

city	Phnom Penh
country	Cambodia
region	APAC
classARentLocal	264 USD/sqft/yr
classARentUsd	$264/sqft/yr
vacancy	22.4%
typicalLeaseYears	3
typicalRentFreeMonths	6
submarkets	5
primeYieldPct	8%
trophyRent	$312/sqm/yr · ≈ $29 PSF/yr USD
primeRent	$264/sqm/yr · ≈ $24.5 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Phnom Penh?: Around 264 USD/sqft/yr ($264 USD) across the broader Class A index. Trophy submarkets like Daun Penh command 20–40% above that.
How many months of rent-free are normal in Phnom Penh?: 6 months on a 3-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Phnom Penh?: The Phnom Penh Class A market is currently softening. Vacancy is 22.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction