BKK Living Guide - a prime location and international living area

Boeung Keng Kang District (BKK) has always been considered the a prime residential area and  also known as the CBD (Central Business District) in Phnom Penh, the capital of Cambodia.

A huge number of NGO expatriates, and professional elite work here, many high-end residences and office buildings gathered here with completed supporting facilities . It is a typical international living and residential area, and it is also a must-visit place for a large number of tourists.

⒈ District introduction

1.1 Regional Overview

BKK is a newly added administrative District in 2019, which was previously a commune of Chamkarmon district.

At present, the BKK district covers 7 communes, namely BKK I, BKK II, BKK III , Olympic, Tumnob Tuek, Tuol Svay Prey I and Tuol Svay Prey II.

The east side of BKK  extends along Norodom Blvd and is connected with Chamkarmon district; the south side extends along Mao Tse Toung Blvd, Street 173 and Yothapol Khemarak Phoumin Blvd (271) and connected with Chamkarmon district; the west side extends along Preah Monivong Blvd and connected to Toul Kork District; the north side extends along Preah Sihanouk Blvd and connected with Prampir Makara and Doun Penh District.

From the population density map, it can be seen that the area where BKK located is in the CBD of Phnom Penh and is one of the most prosperous areas.

1.2 Regional characteristics

Although the BKK District is not large, each commune has its own characteristics of development. Among them, the most well-known and popular area is BKK1 where surrounded by 4 main road including Preah Sihanouk Blvd, Mao Tse Toung Blvd, Preah Norodom Blvd and Preah Monivong Blvd.

At the same time, BKK have various of complete and mature infrastructures, it is also an area where embassies and international non-governmental organizations (NGOs) gather, and known as the "District of Embassy ".

BKK2 and BKK3 are both located on the west side of Monivong Blvd, which are relatively less prosperous and smaller than BKK1. The atmosphere here is somewhere between the foreign and local southern area. After years of development, there are also many convenient facilities here, such as supermarkets, mini marts, pharmacies, restaurants, coffee shop, etc. and the most famous Tuol Sleng Genocide Museum is located in the BKK3 area. The advantage of living in BKK2 and BKK3 is that the cost of living is relatively lower than the BKK1, and the living environment here is also quieter than other areas of the city.

Between the Olympic Stadium and Mao Tse Toung Blvd, there are four other communes: Olympic, Tumnob Tuek, Tuol Svay Prey I and Tuol Svay Prey II, Their living environment is way more local compared with the above three communes.

Overall, as the core area of Phnom Penh, BKK can be called the commercial and cultural center.  It is a gathering place for embassies and NGOs from various countries, as well as Enterprises, convenience stores, cafes, restaurants, hotels, high-end residences, apartments, and office buildings , with good environment and public security, it is deeply loved by political, celebrities and wealthy people.

⒉ Surrounding Facilities

Economics/Commercial

In terms of commercial, BKK district has a convenient transportation, which is only about 10 minutes away from  AEON 1 shopping mall and Naga World; there is also Chip Mong Noro Mall in the district, which can bring convenience and modern shopping experience, if you want to feel the cultural atmosphere of the local market, there are Boeng Keng Kang Market and Olympic Market in the district, where you can buy all kinds of daily necessities, local food, clothing, souvenirs, fresh fruits, vegetables and meats; 

In addition, the Tuol Tompoung Market, which is popular among tourists and expatriates, is just south of the BKK district and is also a good shopping place.

 As mentioned above, there are also a large number of convenience stores in the BKK area, such as AEON MaxValu Express (AEON), Lucky, 7-Eleven, ChipMong, SuperDuper, Circle K, Thai Huot Market, Kim Mart, etc., with major brand from Thailand, Japan, South Korea, the United States, and local, making the daily life here even more convenient.

Food

Since BKK District is the main gathering place for foreigners from all over the world, we can also find many restaurant from different countries here, including local Khmer cuisine, street food, cafes, Chinese hot pot, barbecue, Sichuan food, Hunan cuisine, Northeastern Chinese food, Hong Kong food, Taiwanese food, Japanese and Korean food, French food, Thai food, Western food, Indian food, Greek food, Mexican food, and even halal restaurants, make it an excellent place for food exploration.

The popular restaurants in BKK area include: Kungfu Kitchen, Mama Thai, Malis Restaurant, Bonchon BKK, The Street Cambodia, etc.

Transportation

In terms of transportation, like other areas in Phnom Penh, private cars and motorcycles are common means of transportation for locals here; for tourists, taxis and Tuk Tuk are very convenient modes of transportation and are very suitable for city sightseeing.

Medical

There are various clinics and hospitals in the area, such as Royal Fertility Hospital, Khema International Polyclinic, Khmer-Soviet Friendship Hospital, Toul Svay Prey Health Center, etc., so your health can be guaranteed.

Education

In terms of education, BKK District is also one of the gathering areas for international schools in Phnom Penh. There are The East-West International School,  Phnom Penh Montessori International School, The Giving Tree and other international schools in the area

Surrounding the BKK area, there are also CISP (Canadian international school of phnom penh), ICAN British International School, SIS International School, etc.

Leisure

In terms of life and leisure, the BKK area has a very petty bourgeois atmosphere.

If you want to keep fit, there are Elite Fitness, The Place Gym BKK, VONNESS as well as other gyms and fitness clubs. In addition, most apartments hare are also equipped with gyms, and swimming pools.

If you want to jog, the Olympic Stadium, and the Independence Monument, Wat Botum Park, and along the Royal Palace at the north of BKK are all good choices;

If you want to find a place with a comfortable environment to relax, there are many spas in the BKK area, especially in the BKK1 area, such as Angkor Spa, Bodia Spa, etc., where you can enjoy and relax your body and mind through the Massage;

If you want to enjoy nightlife, there are many bars and pubs to choose from, such as The Woods, PENTAGON PUB, Color Cup Cambodia, etc.

⒊ Real estate Market

BKK District is one of the most core areas in Phnom Penh, and its performance in the property market is very impressive. Whether the land prices, housing prices or rental prices, are all in the top of rank in Phnom Penh. 

It is a highly sought-after area in Phnom Penh, where high-end residential and commercial properties are concentrated. The lands the BKK area are scarce due to the local and foreign organizations tend to settle in. In recent years, high-rise buildings in the area have continued to grow, constantly refreshing people's understanding of high-rise landmarks, and showcases Phnom Penh’s modern urban landscape.

1.1 New development project

As mentioned above, since the BKK area is in the core of Phnom Penh, and many foreigners living there, the land here is becoming increasingly scarce. Currently, there is no large enough land to build a new land-connected residential projects such as Borey and villa, therefore, the new development projects is mainly high-rise buildings such as condominium, commercial buildings and office buildings and most of them are gathered in BKK1 commune.

Currently, the projects under construction in BKK District include: Time Square 6 (302), Le Condé, UC88 Tower, The Flora Suites, Picasso City Garden 2; while the existing projects include Picasso City Garden, Agile Sky Residence, L'attrait BOEUNG KENG KANG.

1.2 Rental market

If we talk about the real estate type of apartment for rent, we see that in Boeung Keng Kang district, there are more apartment units for rent than other major districts, whether it is a serviced apartment or in a condominium building. Due to the advantages of locations and facilities in the above district, both foreigners and locals, most of the tenants' preferences are always to choose to stay in the Boeung Keng Kang area. The average monthly rent can be between $500 and $1,200. 

According to the Apartment Channel data of the real estate website Compass.com.kh, the order is as follows:

- Affordable apartment with rent from $250-810/moth

- Mid-range apartments range in rent from $400-2,400/month 

- High-end apartment rental price from $550-6,300/month

The following is a table of the above apartment ranks in Boeung Keng Kang with most searched on Compass.com.kh:

Besides the apartments, other types of rental property’s prices are as below:

- Villa rents from $1,500-$22,000 per month, size ranging from 120-1,500sqm with 3 to 24 bedrooms.

- Shophouse rents from $450-$4,500 per month, size ranging from 68-320sqm with 1 to 5 bedrooms 

- Link house rents from $500-$2,700 per month, size ranging from 64-180sqm with 2 to 6 bedrooms.

1.3 Second-hand housing market

On the other hand, the BKK is also known as the "wealthy district", so the price for second-hand houses here are usually expensive too, whether for residential or commercial buildings, especially for high class villas.

According to the data from Compass.com.kh, the price for different types of second-hand properties are as below:

- Villa price from $300,000-$6million, size ranging from 107-644sqm with 4-13 bedrooms;

- Shophouse price from $360,000-$3million, size ranging from 70-267sqm with 1-7 bedrooms;

- Link house price from $230,000-$980,000, size ranging from 48-285sqm with 3-10 bedrooms;

- apartment units,  price from $47,000-$743,000, size ranging from 27-198sqm, with studio to three-bedroom unit types.

1.4 Land market

Earlier this year, the Cambodia Real Estate Agents and Appraisers Association (CVEA) announced the land prices in various districts of Phnom Penh for the first half of 2023.

BKK district is still ranked at the top for land prices in Phnom Penh, with the average land price of main roads $6078/㎡ and the average land price of sub-main roads $3742/㎡.

Among them, the land price on the main road in BKK1 is the highest, reaching $9,800/㎡, and in 2022, the land price in this area can reach up to $10,000/㎡.

BKK1 have the lowest land price of $4,800/㎡ , and the lowest land price of other communes in BKK District is $2,700/㎡, which is slightly higher than Daun Penh District and 7 Makara District.

Embassies, international organizations, and famous companies gather together, and it has a large number of high-quality consumer groups, all of which demonstrate the development potential of BKK district.

From an investment perspective, the land prices and rental income in the BKK area are relatively high, and the properties here have strong appreciation potential, making them valuable for investment.

The location determines the price, and the price determines the value. Land and properties in the BKK area will become extremely scarce with the urbanization process in Cambodia. Land in the core area of Phnom Penh will also become more and more precious, and developers will be further and further away from where they buy land to develop properties. In the future, it may be more difficult for people to own a property in the core area of Phnom Penh.