BKK 1 Phnom Penh is one of the dost important and indeed popular real-estate destinations in Phnom Penh. Known as the “foreign capital” since the 80’s following the fall of the Khmer Rouge, this was the initial place that foreigners set up camp.
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Where is BKK1?
Located at the north end of Sihanouk Boulevard and southeast of the Independence Monument. The area borders the Norodom Boulevard, and Mao Tse Tung Boulevard. It is also near Kim Il-Sung Boulevard, named after the former North Korean President. Most professionals and expats tend to reside in BKK1.
To read about Kim Il-Sung Boulevard click here.
What does BKK1 mean and who lives there?
BKK1 stands for Boeung Keng Kang I and is known not only as the expat hub, but also as being an area popular for embassies. Currently BKK 1 hosts the embassies of of Switzerland, Bulgaria, Brunei, and Sweden. There are also numerous international organisations as well as important NGO’s located in the area.
What is the social life like in BKK?
When it comes to social hubs there are arguably 3 more areas within Phnom Penh TTP, the Riverside and TTP, including TTP 2 and 3. As for BKK1 you will not go hungry, or thirsty while in BKK1! If you like your chains thens top choices are Domino’s, Starbucks, Burger King, Carl’s and Coffee bean. There are though also lots of fabulous independent bars and restaurants such as Duplex, and Digby’s. There is also a really vibrant artisan style collection of independent coffee shops
What is the social life like in BKK?
BKK1 remains more expensive than both BKK2 ands BKK3, but it still remains an extremely attractive for businesses due to the foot traffic from the large expat and high-end Khmer residents in and around the area.
Commercial outlets particularly attract foreigners and monied locals particularly in streets 5, 63, 278 and 282. Street 63 tends to be the most popular for restaurants bars and nightlife
The area also has all modern conveniences that you would expect, such as international grocery stores, pharmacies, mini-marts and visa agents. Essentially anything you would need for living is located on BKK1.
How much does it cost to rent, or buy on BKK1?
When it comes to renting in BKK1 then while prices are high, they are still affordable. Condo’s and apartments start from $500, or so for a one bedroom apartment going up to $1000 if you opt for a serviced apartment with a swimming pool.
When it comes to 2, or 3 bedroom places a general of thumb would be to double, or triple the price to get a rough estimate.
When it comes to buying prices are much like with renting being higher than other parts of the capital and often into the million dollar bracket. Do not though let tis put you off wit Lux Realty (link) being able to help you negotiate your way around the market.
So, to sum up BKK1? Yes it has a high cost of living, but it is also the best choice in the capital when it comes to convenience, accessibility and indeed social options.
