Advantage Property Services Report Description 27th November 2025 (PDF, 50 pages) Drawing on detailed macroeconomic indicators, construction investment trends and sector-by-sector market data, Advantage Property Services (APS Cambodia – formerly CBRE Cambodia ) presents a fearless forward view of Cambodia’s real estate market in 2026. Summary Core inflation eases, the USD–KHR exchange rate hovers near 4,000, and external trade gradually recovers. Construction investment rebounds as residential, industrial and tourism projects restart, though delivery still depends on financing. Bank deposits in local and foreign currency rise at double-digit rates, yet NPLs and high private debt curb confidence. Industrial growth strengthens with 6 new projects over 1,900 ha and furniture exports around USD $1 billion by September 2025. Phnom Penh office occupancy stabilises near the low 60% range as Grade A supply expands and landlords stay flexible. Shopping and community mall rents fall between 2.2 and 10.2% YOY, while F&B-led brand expansion underpins demand. Condo, landed housing and serviced apartment pipelines grow, yet pricing stays broadly stable and smaller units gain favour. About the Fearless Forecast Series Fearless Forecast 2026 is part of an evolving research series from Advantage Property Services  that distils complex data into practical insights for real estate owners, occupiers and investors in Cambodia. Each edition combines macroeconomic analysis, asset-class supply tracking and transaction evidence, including forward-looking commentary on risk and opportunity. The 2026 release puts particular emphasis on liquidity, construction pipelines and sector forecasts, helping decision-makers stress-test strategies in a changing market.   About Advantage Property Services Advantage Property Services (APS Cambodia) is a Phnom Penh-based real estate advisory firm that has served the local market for more than 17 years, evolving from its origins as CBRE Cambodia  into a fully independent brand. Headquartered on the 10th floor of the Keystone Building, on Norodom Boulevard, the firm employs around 80 local professionals across advisory, valuation, research and agency services. As an independent platform, APS focuses on agile, research-driven solutions for corporate, institutional and private clients, leveraging deep local knowledge to support investment, development and occupation decisions throughout the Kingdom. Website : aps.com.kh

CBRE Cambodia Report Description 16th September 2025 (PDF, 51 pages) The guide offers a cross-regional perspective on residential development, drawing on CBRE Cambodia’s insights into design standards, buyer expectations, project positioning and competitive strategies across Asia Pacific. Summary Stronger project performance correlates with international-standard facilities, including premium fitness centres and swimming pools. Buyer demand increases for 2-bedroom units and projects with high rental-yield potential in well-located urban districts. New launches across Phnom Penh expand with diverse product tiers, ranging from affordable condominiums to luxury freehold units. Investor confidence improves in projects offering high-quality property management, particularly those operated by experienced regional firms. High-end projects in areas such as BKK and Chamkarmon achieve sale prices of USD $3,300 to $4,100 per sqm, reflecting sustained appetite for prime offerings. Rapid urbanisation continues, with the capital’s population growing to 2.4 million by 2025, strengthening underlying residential demand. Mega-project developments , including satellite cities and the new international airport, shape future buyer preferences and create new development corridors. About CBRE Cambodia CBRE Cambodia  has been active in the Kingdom since 2008, establishing itself as one of the country’s leading real estate advisory firms. It delivers valuation, consulting, research and broking services to clients across residential, commercial, industrial and hospitality markets. The organisation’s reports are widely recognised for their analytical depth, market accuracy and practical relevance to developers, investors and end-users. Website : cbre.com.kh

CBRE Cambodia Report Description 16th October 2025 (PDF, 50 pages) This Q3 market update provides a data-driven overview of Cambodia’s commercial real estate trajectory, highlighting shifting demand, sector performance and macro-level trends across office, retail, residential, hotel and industrial assets. Summary Office occupancy stood at 65%, with tenants increasingly prioritising value and quality in a tenant-favoured market, putting greater pressure on landlords. Retail occupancy reached 59%, while mall activation programmes and events began improving footfall, especially within viable shopping malls. Infrastructure milestones such as the Techo International Airport (100% completion) and several bridge and motorway projects continued to reinforce long-term growth confidence. Over 370 projects  were recorded in the Green Net Survey , with 32% topping out and 33% completion, indicating steady construction progress. Residential developers aligned new launches with realistic buyer capacity, offering 0% interest instalment plans and down payments as low as 5%, improving sales performance. Hotel sector performance reflected increased Chinese tourist arrivals, rising 30%, supporting premium hotel segment resilience despite ongoing border-related concerns. Brand movements and repositioning accelerated in the retail sector due to cross-border consumer disputes, resulting in store closures, rebrandings and fresh openings across the city. About the Market Insights Series The Market Insights  series provides quarterly analysis of Cambodia’s property market, combining sector indicators with on-the-ground observations. Each edition highlights emerging trends, risk factors and opportunities influencing investor sentiment. The series aims to equip decision-makers with reliable, timely and consistently structured intelligence to navigate market shifts effectively.   About CBRE Cambodia CBRE Cambodia  is a leading real estate advisory firm offering research, valuation, consulting and broking services across Cambodia’s commercial and residential property sectors. The organisation combines global standards with local market expertise to deliver high-quality, data-driven advisory support. Its research publications play a central role in shaping investor understanding of market performance and long-term development trajectories. Website : cbre.com.kh

IPS Cambodia Report Description 25th June 2025 (online) This comprehensive article explores the evolving condominium landscape in Sihanoukville, with IPS Cambodia  analysing the effects of past investment cycles, new infrastructure, renewed tourism and shifting rental dynamics. Summary New condo launches are returning after a multi-year hiatus, signalling renewed sector growth and improved investor sentiment in 2025. Major infrastructure upgrades , including the USD $2 billion Phnom Penh to Sihanoukville motorway, have reduced travel time to just over 2 hours, boosting accessibility. Government incentives for redevelopment have encouraged investors to acquire unfinished buildings, reducing the number of abandoned high-rises. High-end condominiums account for 40% of stock, with prices between USD $1,400 and $2,500 per sqm and rental returns of 5 to 7% per annum. Mid-range units , representing 40%+ of supply, average USD $1,000 to $1,400 per sqm and deliver rental returns of 4 to 6% per annum. Low-range ‘no-frills’ condos make up 20% of the market, priced at USD $700 to $1,000 per sqm with returns of 4 to 5% per annum. Growing tourism and new international hotel brands , including Accor (Novotel) , TUI Group  and IHG Hotels & Resorts (InterContinental) , are strengthening long-term asset appreciation prospects. About IPS Cambodia IPS Cambodia  is a leading real estate agency specialising in residential and commercial property services throughout Cambodia. The organisation provides research, broking and advisory support to investors, buyers and tenants across major urban markets. With a strong data-driven approach, IPS Cambodia delivers market intelligence and on-the-ground insight to assist informed investment decisions. Website : ips-cambodia.com

IPS Cambodia Report Description 10th May 2025 (online) This investment article provides a grounded, practical overview of Sihanoukville’s evolving coastal economy and infrastructure landscape, and highlights how the city is transitioning into a more stable phase of development. Summary The Phnom Penh to Sihanoukville motorway has reduced travel time significantly, improving accessibility and supporting short-term coastal tourism growth. Upgraded urban infrastructure , including sewage rehabilitation, has restored swimmable beaches and enhanced the city’s overall liveability. Nearly USD $1 billion of public investment is planned to position Sihanoukville as a regional logistics hub by 2029, centred on the autonomous port expansion. Clarified land titles and cleared beachfront zones are creating conditions for long-term development rather than speculative short-cycle growth. Time Square 10 offers entry-level coastal investment from around USD $1,000 per sqm, attracting buyers focused on capital appreciation instead of short-term yields. International confidence is returning, demonstrated by the launch of the 189-room TUI BLUE Sihanoukville hotel, signalling renewed premium-tourism potential. The 934-hectare Bay of Lights  township in Ream represents a transformational master-planned development aimed at economic diversification and sustained coastal growth. About IPS Cambodia IPS Cambodia  is a leading real estate agency established in 2009, providing broking, valuation and advisory services across Phnom Penh, Siem Reap and Sihanoukville. Known for its market research and on-the-ground insights, the organisation supports investors, developers and homebuyers through data-driven analysis and professional client engagement. With a strong digital presence and extensive field coverage, it serves as a trusted partner for understanding Cambodia’s evolving property landscape. Website : ips-cambodia.com

IPS Cambodia Report Description 25th June 2025 (online) IPS Cambodia  presents this up-to-date examination of the condominium market in Phnom Penh, offering investors a comprehensive view of current supply, demand, pricing and potential returns in the city’s condo sector. Summary The total condominium supply in Phnom Penh surged from roughly 20,000 units in 2019 to approximately 60,000 units by the end of 2024, reflecting nearly 20% annual growth. Since the 2019 peak, condo prices have corrected downward by about 15 to 20%, making entry-level units more affordable at USD $1,500 to $2,200 per sqm. Average rental vacancy rates have fallen to around 15% per project by 2025, indicating the market is absorbing prior oversupply. Net rental yields remain attractive, typically between 6.5 and 8% per annum, with some prime condos delivering yields of 8.5%+. Demand is especially strong for 2- to 4-bedroom units , which remain popular among tenants and resale buyers, particularly in centrally located and high-quality buildings. Smaller units (studios, 1-bedroom) face higher competition for tenants and buyers due to broad availability and limited differentiation. New project launches have slowed in 2025, as developers pivot towards mid- and low-range offerings, targeting both foreign and local Cambodian buyers to match changing demand patterns. About IPS Cambodia IPS Cambodia  is a leading real estate market research and advisory group, specialising in property trends and investment analysis in Cambodia. The organisation leverages industry data and capital-market insights to advise both local and international investors. Through timely reports and market commentary, IPS Cambodia helps stakeholders navigate Phnom Penh’s rapidly evolving property sector. Website : ips-cambodia.com

IPS Cambodia Report Description 25th June 2025 (online) The article provides an in-depth overview of Siem Reap’s evolving condominium landscape and highlights the unique market forces shaping the city’s investment climate, drawing on research undertaken by IPS Cambodia  to help investors understand the emerging opportunities. Summary Siem Reap’s UNESCO-mandated 6-storey height restriction  creates an unusually limited supply of units, strengthening high-demand investment conditions. Only three strata-titled projects  exist in the city as of 2025, creating exceptionally low supply in contrast to Phnom Penh or Sihanoukville. Off-plan launches at Rose Apple Square and Angkor Grace achieved very high sales during Covid, with near sell-outs in 3 years. Investors have already recorded 20%+ capital gains , supported by local and international demand across a diverse buyer pool. Average rental yields of 7 to 8% net per annum remain achievable due to strong tourism flows and short-stay accommodation demand. Condominium prices range between USD $1,900 and USD $2,800 per sqm, with some vacation-rental programmes priced higher due to enhanced returns. Siem Reap maintains a balanced international investor mix , avoiding over-concentration from any single country and benefiting from lifestyle appeal, expatriate relocations and villa investment options. About IPS Cambodia IPS Cambodia  is one of the country’s leading real estate agencies, specialising in residential and commercial broking, property management and market research. Established in 2009, it has become a trusted adviser for expatriates, institutional buyers and private investors seeking reliable market intelligence. With offices in Phnom Penh and Siem Reap, the organisation remains a prominent source of property insights in Cambodia. Website : ips-cambodia.com

IPS Cambodia Report Description 19th July 2025 (online) This article explores how Kampot is being reshaped by infrastructure upgrades, growing lifestyle demand and emerging development activity, offering a detailed understanding of why the province is entering a new phase of growth. Summary The inauguration of the Kampot International Tourism Port  in April 2025, backed by a USD $10 million  ADB loan, is driving new regional ferry routes and visitor growth. The Kampot Logistics & Multipurpose Port , funded at USD $140 million, targets a capacity of 600,000 TEUs (Twenty-foot Equivalent Unit containers) by 2030, reinforcing long-term trade and logistics expansion. Upgrades to National Road 3  support smoother 2- to 3-hour travel between Phnom Penh and Kampot, strengthening weekend and commuter accessibility. Integration with the Phnom Penh–Sihanoukville Expressway , opened in 2022, enhances the wider southern transport corridor that feeds into Kampot. Restoration of the southern railway  in 2016 provides daily services with journey times of approximately 3 hours 40 minutes, improving domestic mobility. Kampot’s blend of mountain–river–sea ecosystems and expanding lifestyle amenities, including boutique cafés and wellness retreats, is attracting lifestyle-motivated buyers. Low-density developments and rising short-term rental demand from Phnom Penh weekenders support stable yields and long-term property appreciation. About IPS Cambodia IPS Cambodia  is a leading real estate agency specialising in broking, valuation and market insight across Phnom Penh, Siem Reap and emerging provincial markets. The organisation provides buyers and investors with data-driven analysis and on-the-ground expertise. Its market updates, property reports, and lifestyle features serve as trusted references for Cambodia’s real estate community. Website : ips-cambodia.com

IPS Cambodia Report Description 4th August 2025 (online) This investment commentary, published by IPS Cambodia , highlights how Siem Reap’s evolving connectivity, lifestyle repositioning and renewed global attention are shaping its return as one of Cambodia’s most compelling provincial real estate markets. Summary The launch of an Emirates  wide-body aircraft route in June 2025 reconnects Siem Reap to long-haul markets and reinforces global confidence in the city. A strategic partnership between Angkor Grace Wellness Resort and TUI BLUE  links the destination to a network of 20 million travellers, elevating its international visibility. Demand for luxury villas  with private pools and landscaped gardens is rising among European and Southeast Asian buyers seeking lifestyle-led property choices. High-quality villa supply remains limited, especially properties built to international standards with open-plan layouts and resort-style amenities. Urban revitalisation in Wat Bo Village introduces boutique cafés, co-working spaces and new condo projects, contributing to creative, community-driven renewal. The KOICA-funded riverfront makeover adds 5 km of improved walkways, landscaped seating and pedestrian bridges, strengthening commercial appeal. Mixed-use developments such as Rose Apple Square  support long-stay living, digital nomads and local entrepreneurs, signalling broader diversification in Siem Reap’s economic base. About IPS Cambodia IPS Cambodia  is one of the country’s leading real estate agencies, offering broking, property management and advisory services in Phnom Penh and Siem Reap. Established in 2009, it supports both local and international clients across residential and commercial sectors. The organisation is recognised for market expertise, data-driven insights and strong regional networks. Website : ips-cambodia.com

IPS Cambodia Report Description 12th October 2025 (online) This Q1 2025 land-price update provides a snapshot of Phnom Penh’s evolving real estate landscape, offering investors a detailed view of district-level shifts using market data compiled by IPS Cambodia and presenting verified transaction insights. Summary Prime districts continue to show resilience, with Daun Penh  achieving main-road prices reaching USD $12,000 per sqm. BKK 1  remains a premium zone for mixed-use redevelopment, with sub-road values maintaining stability above USD $4,500 per sqm. Outer-district gaps persist, with differences between central and fringe land values exceeding 500%. Emerging growth areas such as Sen Sok and Chbar Ampov show steady upward movement driven by residential expansion. Most affordable communes remain in Kambol and Prek Pnov , where typical plots continue to trade below USD $300 per sqm. Infrastructure corridors along National Road 5 and the outer ring road are driving demand in Russey Keo and Kambol . Investor sentiment is selective, with priority placed on titled plots , verified valuations and accessible main-road sites. About IPS Cambodia IPS Cambodia  is one of the country’s most established real estate and valuation firms, operating for nearly two decades in the Cambodian property market. The organisation provides appraisals, advisory services and market-intelligence outputs used by banks, developers and property owners. Its Valuations Department is recognised for delivering data-driven insights that support confident decision-making in Phnom Penh and beyond. Website : ips-cambodia.com

IPS Cambodia Report Description 14th October 2025 (online) This 2025 guide for investors from IPS Cambodia  presents a compelling, data-driven overview of Cambodia’s real estate market fundamentals, outlining why the Kingdom is emerging as one of Asia’s most attractive destinations for property investment. Summary Cambodia operates a US-dollar economy , reducing currency risk and simplifying transactions for international investors. Foreign buyers legally enjoy 100% freehold ownership  of strata-titled properties, including condominiums and commercial units. Typical net rental yields range from 6 to 8%, with gross yields of 8 to 10%, significantly outperforming many regional alternatives. Entry-level condominium prices remain more affordable than in Thailand or Vietnam, while offering similar growth and yield fundamentals. Rising incomes, urbanisation and shifting lifestyle preferences are driving a growing domestic demand for modern condominiums and rental housing. Investors benefit from a transparent legal framework  and supportive regulations that enhance long-term property value stability. Combined with improving developer quality and infrastructure expansion, Cambodia offers a rare mix of stability, growth potential and accessibility  for both domestic and foreign property investors. About IPS Cambodia IPS Cambodia is a full-service real estate agency established in 2009, with offices in Phnom Penh and Siem Reap. The organisation offers expert support across residential and commercial sales, rentals, property investment, valuations and property management. Over more than a decade, IPS has built a reputation as a trusted partner for local and international clients looking to invest in Cambodia’s rapidly evolving real estate sector. Website : ips-cambodia.com

IPS Cambodia Report Description 13th October 2025 (online) This article gives a detailed breakdown of Cambodia’s new Capital Gains Tax (CGT) rules for real estate, offering property owners and investors clear explanations of timelines, calculation methods and exemptions. Summary CGT implementation dates  outline a phased rollout in 2025–2026 for assets and real estate. The standard 20% CGT rate  applies to profits declared under the Actual Cost Method. The lump sum method  effectively results in a 4% tax on a property’s sale price. Exemptions include main homes lived in for 5+ years, agricultural land, inheritance and direct family gifts. Cambodian residents pay CGT on global property holdings , and non-residents pay CGT only on Cambodian assets. Sales of condominiums, villas, land and immovable property must be declared to the General Department of Taxation (GDT) . CGT declarations and payments must be completed within three (3) months  of sale. About IPS Cambodia IPS Cambodia  is a leading real estate agency specialising in property sales and advisory services across key Cambodian markets. Established in Cambodia in 2009, the company provides market intelligence, transaction support and end-to-end guidance for both local and international investors. Its expert team is known for simplifying complex property processes and supporting transparent real estate transactions. Website : ips-cambodia.com