Russian Market | Toul Tom Poung
Russian Market Real Estate Overview
Located at the most Southern edge of Phnom Penh, the Russian Market area used to be seen as the outskirts of the city. Also known as Toul Tom Poung, the Russian Market is bordered by Mao Tse Toung Boulevard. Nowadays, thanks to an influx of new development and foreigners moving in, it is the most burgeoning neighbourhood in Phnom Penh.
At its very heart lies the infamous Psah Toul Tom Poung, or the Russian Market. The market attracts tourists, locals and international residents living in the city and is renowned for having a diverse range of products available. Whether you are after clothing, food, souvenirs or jewellery, Russian Market is bound to have it.
Russian Market Property Market Trends
With the market at the area’s core, the surrounding streets have a variety of real estate options to choose from, with both commercial and housing property readily available.
Stemming from the market are small streets that are mostly lined by beautiful, old Khmer architecture. An added bonus is the various new businesses popping up, new shops, supermarkets, cafes, restaurants and bars have started springing up, which adds to the charm of the suburb.
In terms of development in Phnom Penh, the Russian Market is a very up and coming suburb. Like most areas in the city, infrastructure growth is rapid. In the Southern parts of the area, modernised places of residence and condo blocks are appearing amongst the older and more traditional buildings and villas.
This is proving to make the area an attractive option for both expatriates looking for housing and for business looking to invest in the property market. The more North of the Russian Market you go, the larger and more spacious the living options become and it is here that villas dominate housing style.
When it comes to available land spaces, the further away you move from the main and bustling market area, the more commercial land investments there are to choose from.
It must also be noted that the bonus about opting to lease or purchase premises in this suburb is that prices are generally lower than surrounding neighbourhoods such as BKK1 or Riverside. Think “Brooklyn”, properties in this area are generally newer, bigger, and less expensive.
This being said, the area is becoming a growing and popular residential centre in itself, with everything readily available, from schooling and shopping to international dining and bars.
Russian Market Schools
Like most other residential suburbs in Phnom Penh, good schooling is available in Russian Market. Hope International School, Western International Schools has a second campus here, BELTEI International Institute can be found on St 488 and Footprints International School is located in the heart of the area on St 430 just behind the Russian Market.
Russian Market Home Prices
In terms of rentals, the Russian market offers many rooms to lease, as well as flats and villas. Traditional Khmer style property rental starts from around $450 USD pcm.
When looking towards bigger and more modern places to live, prices range from $450 per calendar month upwards dependent on your choice of property features such as rooftop swimming pools, western interior design, cleaning, security, parking and number of bedrooms.
House and Land Sale prices in the Russian Market area generally average $2500-$4000 USD per square metre with prices dependent on the location and size of the property.
Short and long term leases are available and due to the areas increasing popularity, landlords and property owners are usually very accommodating to potential tenants. Amenities included in your monthly apartment rental can include WIFI, Cleaning, Fitness Centre’s, Western Kitchens and Washing Machines.
The Russian Market is also very popular amongst local and overseas entrepreneurs, who are quickly recognising the growth and popularity of the area for new residents. This increased business movement is turning the Russian Market area into a suburb that caters to the life style needs and pleasures of all who live there.
Toul Tom Poung Community Info
The Russian market is a great representation of the old and the new: for example, it is common to find a modern dining spot located right next door to a Khmer restaurant or a workshop. Here in lies the beauty of this suburb.
The area has everything you need, from great places to eat such as Japanese cuisine at Sesame Noodle Bar and Mexican favourite Café Alma to local Spa’s and boutique shops. Mini marts and coffee shops are liberally dotted throughout the area.
From trendy coffee shops to delicious restaurants and cafes, you may never want to leave your neighbourhood.
If you are looking for nightlife you may want to look somewhere else, as this area shuts down early. If a mixture of eclectic and local culture is what you are after, then look no further than the Russian Market to find your ideal home in Phnom Penh.