Toul Tom Poung

Toul Tom Poung, known to everyone as the Russian Market area, is Phnom Penh's coolest quarter. Around the iconic covered bazaar, third-wave coffee shops, indie boutiques, gastropubs and galleries have layered a creative, bohemian energy over an authentic local market, pulling in younger expats, NGO workers, artists and digital nomads. Compact and walkable, it is one of the most characterful places to live in the city. For investors, the draw is lifestyle-led demand: gross yields of 6.5-8% are supported by the expat and nomad rental pool, and as a low-rise quarter the area is less exposed to the new-tower glut than the high-rise districts. The trade-offs are the Cambodia standards, strata-only foreign ownership above the ground floor, plus the fact that much of the local shophouse and villa stock is land and so not foreign-ownable, which keeps brand-new strata inventory genuinely limited.

Toul Tom Poung in Phnom Penh, Phnom Penh, Cambodia