Firstly my advice would be wait 6-12 months. IMHO,the fall-out is going to be massive and prices are going to tumble drastically.

If you really want to buy right now, I have been looking too and -

Renovated one bedroom penthouses on the riverfront with no parking and up 5 flights of stairs are asking $150,000 ++.

Renovated 3 bedroom E1 apartment near Central Market = $50k

Still plenty of unrenovated cigar tubes to be had in areas like TTP and KTK for $20k-$30k

I do not believe you will ever make money on the first two but if you buy the third wisely and renovate to western standards ( add $15k ), you might make some dough when / if the market ever comes back.

Renting is the better option by far.

IT[/b]

cheers for that, champion!

Real estate agents WILL be telling you that now is a good time to buy as for them anytime is a good time for a big commission.

When buying an apartment be cautious with the ones on the very top. Some are not actually supposed to be there. they are tack on shels that are not sound.

ichtom? Whats is the E1 E2 etc. I think that it is the E3 that I was told to avoid buying. They are the tacked on jobs I believe

I have only ever seen two property prices/sales here in Phnom Penh that were ( in my eyes ) excellent deals;

1) A year ago an Australian mate of mine sold his shop house ( to another aussie ! ) in TTP for US$85k. The dollar at the time was about .80c or so. So....for AUS$100 you got a 4 level ( 5 beds / 4 bathroom) + covered rooftop property with big renovated stainless steel western kitchen.It was at the end of a row of about 6 in a private cul de sac and had parking for about 3 cars inside its gates. As it was the end one, it had windows all the way up one wall so didn't have that tunnel feeling. It really was a great place and I think he even regrets selling.

2) About 6 moths ago a Brit mate of mine bought an E2 just off 51 near Walkabout for US$25k. He spent $13k on it bringing it to western standards and now has a lovely 2 bedroom / 2 bathroom / balcony apartment . Total ; $38k. It was the end one so again, he has windows down one side.Of course, he had a khmer wife on the case and as those of us married to Khmer women know, they are like bloodhounds when it comes to seeking out property and like The Terminator when it comes to negotiating

It is easier to find the E1 / E2 / E3 only apartments near and around Central Market but they are generally cigar tubes ( no side windows) in massive blocks with nasty outlooks.

Once away from the city centre into TTP or KTK, I tend to only see entire shop fronts for sale and they are all over US$100k. There is one right near our house just of Russian Market that has a fully renovated business downstairs ( currently a nice cafe ), and an apartment and covered rooftop upstairs. They want US$120k.

I have been keeping a keen eye out for a single level E1 or E2 for sale in TTP but alas......

IT