Rose Apple Square Review: Siem Reap's Completed Strata

Quick answer: Rose Apple Square is Urban Living Solutions’ completed community square on Sok San Road, Siem Reap, 241 listed units from $86,950 to $222,700, about $2,750 per sqm, with strata offices alongside. Foreign-eligible, finished, and walkable to the town’s core. The price is a premium over Phnom Penh; the income is seasonal; this page prices both facts instead of hiding either.

Siem Reap property pages usually sell the sunset. This one prices a building, the town’s clearest completed strata scheme, against the seasonality and the 2026 tourism data this site already documents. Verification format as everywhere in the corpus: verified, claimed, must-obtain.

What is Rose Apple Square and who built it?

Rose Apple Square is Urban Living Solutions’ completed mixed-use community square on Sok San Road, Siem Reap, 241 listed condominium units from $86,950 to $222,700, averaging near $2,750 per sqm, with strata offices alongside. The developer delivered here before selling Odom in Phnom Penh, which makes this building the delivery evidence.

Fact	Verified position	Note
Developer	Urban Living Solutions (ULS)	The delivered proof behind Odom’s promises
Location	Sok San Road, Svay Dankum	Walkable to the town’s core
Status	Completed, ready for occupancy	Inspectable today
Unit mix	93 studios (32 sqm), 115 1BR (47-55), 28 2BR (72-78), 5 3BR (136)	241 listed
Count discrepancy	One source: 207 residences	Flagged, see final section
Pricing	$86,950-$222,700; ~$2,750/sqm	At the top of the town’s strata band

Our read of the scheme starts with its role in the corpus: this is the building a buyer weighing ULS’s off-plan Odom towers should physically visit, because it is the developer’s completed answer sheet, finish quality, common-area upkeep, and how a ULS community square actually operates once the marketing team leaves. As a case study in Siem Reap supply it is nearly unique: the town’s market is about 55% landed houses and villas, roughly 20% condos, and most of that strata is either dated or unfinished, which is why a completed, documented, foreign-eligible square on the town’s most walkable street can price at the top of the band. The mixed-use format matters practically, ground commerce and strata offices keep the square alive outside tourist hours, and the five three-bedrooms at 136 sqm are the only genuinely scarce product in the stack.

• The town’s full market: Siem Reap property guide.
• The developer’s off-plan sibling: Odom review.
• The competing scheme: Angkor City Siem Reap.
• The two-city decision: Phnom Penh vs Siem Reap.
• The legal machinery: foreign ownership and strata title.

How does foreign ownership work in Siem Reap strata?

Foreign buyers hold Siem Reap strata exactly as in Phnom Penh: units above the ground floor, in the buyer’s own name, inside the 70% cap on total private-unit area, the law is national, not municipal. Rose Apple Square’s completion means the ledger exists, and the town’s thin strata supply makes verifying it fast.

Ownership item	Position here	What to demand
Legal basis	Strata co-ownership, Sub-Decree 126	National law, no Siem Reap variant
Foreign cap	70% of total private-unit area	Dated ledger extract in sqm
Status advantage	Completed scheme	Real documents, not projections
Title	Individual strata title per unit	Land Office verification
Strata plan	Registered on completion	The document that settles unit counts
Offices alongside	Same strata machinery, commercial rules	Use clauses in the regulations

Our analysis keeps the checklist short because the scheme’s completion does most of the work, but two items deserve Siem Reap-specific emphasis. First, the registered strata plan is unusually important here: it is the authoritative answer to this page’s flagged unit-count discrepancy, and a buyer who obtains it has resolved in one document what public sources leave ambiguous. Second, provincial land-office processes run on their own clock: transfers and searches in Siem Reap are the same instruments as in the capital but not always the same speed, so build the timeline into any purchase plan rather than discovering it inside one. The rest is standard and fully available: title copy, encumbrance search, quota extract, co-ownership regulations, plus the commercial-use clauses if the strata offices are part of the purchase. A completed square with a professional developer produces all of it on request; treat any friction as information.

• The legal baseline: can foreigners buy property in Cambodia.
• The cap arithmetic: strata title for foreign buyers.
• Registration, step by step: strata co-ownership registration.
• Process discipline: due diligence step by step.
• The purchase timeline: buying timeline for foreigners.

What do units cost, and why above Phnom Penh’s average?

Pricing at Rose Apple Square runs $86,950 for a 32 sqm studio to $222,700 for a 136 sqm three-bedroom, about $2,750 per sqm on average, above Phnom Penh’s $1,800 citywide mark. The premium is the area’s arithmetic: Siem Reap’s newer foreign-eligible strata trades at $2,000 to $3,000 per sqm because almost none exists.

Pricing input	Figure	Note
Studio (32 sqm)	From $86,950	~$2,717/sqm
1BR (47-55 sqm)	~$130,000-$150,000 implied	The volume product: 115 units
2BR (72-78 sqm)	Upper band	28 units
3BR (136 sqm)	To $222,700	5 units, the scarce stack
Town band, new strata	$2,000-$3,000 per sqm	Prime foreign-eligible supply
Phnom Penh contrast	~$1,800 citywide; $2,800-$3,500 BKK1	The capital’s range brackets this scheme

Insider tip: the premium over Phnom Penh’s average is defensible only while it is compared against the right denominator, and the red flag in Siem Reap sales conversations is the wrong one, a $2,750 per sqm ask justified by comparing against the town’s general $1,100 to $2,700 band, most of which is stock a foreign buyer cannot or should not hold, rather than against the thin $2,000 to $3,000 prime-strata band where the scheme genuinely competes. Within the right band, position pays: Sok San Road’s walkability is the town’s strongest micro-location for both tenants and eventual resale, and completed-with-documents beats every unfinished competitor at any price. Negotiate unit-level: the 115 one-bedrooms are the building’s commodity and should price like one, the studios compete with the town’s guesthouse economics, and the five three-bedrooms are the only stack where a seller can argue scarcity with a straight face.

• The town’s price structure: Siem Reap property guide.
• The capital’s benchmark: how much does a condo cost.
• Negotiating the band: negotiation guide.
• Closing costs: closing costs guide.
• The valuation method: resale valuation guide.

What does seasonal income really look like here?

Seasonal income is Siem Reap’s structural fact: tourism concentrates November to March, and 2026 has been harsher still, Angkor logged 428,223 international visitors in January-July, down 30.7% year on year. Underwriting this market on 12 flat months is fiction; the honest model prices five strong months, shoulder softness, and a recovery scenario.

Income input	Figure	Note
Agent yield claims	7-8% average; 6-9% indicative	Claims, not underwriting
Season	November-March concentration	The year’s income core
Angkor Jan-Jul 2026	428,223 visitors, −30.7% YoY	The current stress test
Angkor full-year 2025	955,131 ticketed visitors	The pre-shock baseline
Airport capacity	714,133 H1 passengers vs 7M/year design	The recovery’s infrastructure headroom
Tourism receipts 2025	$3.878 billion nationally, +6.6%	Value holding up better than counts

The methodology this corpus applies to seasonal assets is calendar-first, and we tracked the 2026 numbers precisely because they turn a brochure debate into arithmetic. A short-term-let studio here earns its year mostly between November and March; the shoulder months soften; and the 2026 low season arrived on top of a 30.7% year-on-year visitor decline at the town’s only demand engine. The honest model therefore prices three scenarios, not one: a stressed year like this one, a baseline year like 2025’s 955,131 Angkor visitors, and a recovery case in which the $1.1 billion airport, running at a tenth of its 7-million design capacity in H1 2026, begins filling. Long-term letting to the town’s expat and NGO base flattens the calendar at materially lower rates, and blends of the two are what competent local managers actually run. What the model refuses is the flat 7-8% agent figure: it is not a lie so much as a best-season annualised, and buyers who capitalise it into the purchase price pay for months that do not exist.

• Short-term letting rules and math: Airbnb guide 2026.
• The strategic choice: Airbnb vs long-term rental.
• The 2026 tourism shock and rebound: border and tourism news.
• Managing at distance: property management guide.
• Income tax on lettings: rental income tax.

How does it compare with Phnom Penh at the same money?

The same money in Phnom Penh buys the comparison every Siem Reap purchase must survive: a one-bedroom here costs roughly $130,000 to $150,000, while the capital offers completed central stock at its $1,800 per sqm average with year-round tenants. For foreign buyers the choice is a lifestyle-plus-seasonality asset against a duller, deeper rental machine.

Dimension	Rose Apple Square	Phnom Penh equivalent money
Product	New strata, walkable core	Completed central resale
Per sqm	~$2,750	~$1,800 city; $1,400-$1,900 BKK3
Tenant base	Tourists + thin expat/NGO layer	Year-round professional demand
Income shape	Seasonal, scenario-driven	Flat-ish, modelled 3-5% net
Liquidity	Thin, scarcity-supported	Deeper, evidence-priced
The honest buyer	Lifestyle + recovery conviction	Spreadsheet income

Our underwriting of the two-city trade refuses to pick a universal winner because the buyer scenario genuinely decides it. A pure income investor loses nothing by admitting Phnom Penh wins: more sqm per dollar, a tenant base that does not check a festival calendar, and an exit market that prices from evidence rather than scarcity. The buyers for whom Rose Apple Square is rational are specific and real: an owner who will use the unit across the high season and let it otherwise, converting lifestyle into offset rather than pretending it into yield; a tourism-recovery investor who reads the airport’s empty capacity and 2025’s 955,131 Angkor visitors as an option worth owning at the town’s best completed address; and a scarcity buyer who wants the thin end of a 20%-condo market with full documents. Each of those cases survives the seasonal model of the previous section. The case that does not survive is the one the brochures sell, capital-city yield expectations wearing a resort-town address.

• The full two-city analysis: Phnom Penh vs Siem Reap investment.
• The capital’s evidence: best condos to buy 2026.
• The town’s alternatives: Angkor City condo.
• Exit reality in thin markets: exit strategy guide.
• The developer’s capital play: Odom review.

What we could verify, and one discrepancy we could not resolve

Claim	Classification	Evidence
Developer: Urban Living Solutions	Verified	Developer and portal sources
Sok San Road, Svay Dankum location	Verified	Consistent across sources
Completed, ready for occupancy	Verified	Standing, inspectable
Unit mix: 93/115/28/5 by type, 32-136 sqm	Listed	Sales-side documentation
241 units total	Listed	Majority of sources
207 residences	Conflicting source	Reason unresolved: we could not confirm
Pricing $86,950-$222,700, ~$2,750/sqm	Listed	Developer-side pricing
Quota ledger, strata plan, closed resales	Must obtain	The documents that settle everything above

The unit-count discrepancy deserves its honest paragraph rather than a silent choice. Most sources, including the sales side, carry 241 condominium units; one source counts 207 residences. Plausible explanations exist (units reclassified to serviced or office use, stock held back from sale, a count taken at a different project stage), but plausible is not verified, and this corpus does not average two numbers into a fake third. The registered strata plan resolves the question authoritatively, and requesting it costs a buyer nothing. The broader lesson is the page’s method in miniature: in a market where most schemes never finish, this one’s documents exist, which converts every open question, this one included, into a request rather than a risk.

One more note on evidence hierarchy, because Siem Reap tests it harder than the capital does. In Phnom Penh, a buyer cross-checks any claim against dozens of comparable buildings and hundreds of listings; in a town whose entire prime-strata universe is a handful of schemes, the usual triangulation collapses, and single-source claims travel further before anyone audits them. That is exactly how a 7-8% yield figure becomes “the Siem Reap number” across a whole SERP, and how a unit count can diverge between sources for years without correction. The practical adjustment is to weight documents over coverage even more heavily than usual: the strata plan over the portals, the ledger over the brochure, a signed lease over any occupancy anecdote, and Angkor’s published gate counts over every agent’s impression of how the season felt. A thin market is not necessarily a risky one, but it is always a market where the person holding the primary document wins the argument.

Advantages and disadvantages

For the purchase: the town’s best-documented completed foreign-eligible strata; ULS delivery quality a buyer can inspect rather than trust; Sok San Road’s walkable position, the strongest micro-location for tenants and resale alike; a mixed-use square that stays alive outside tourist hours; and genuine scarcity at the prime end of a 20%-condo market.

Against it: a per-sqm premium over the capital that only the thin prime band justifies; income that lives on a November-March calendar currently stress-tested by a 30.7% visitor decline; agent yield claims of 7-8% that seasonal modelling does not reproduce; thin resale liquidity that scarcity supports but never guarantees; and one unresolved unit-count discrepancy a strata plan must settle.

Buyer scenarios and decision framework

A lifestyle owner who will occupy in high season and let otherwise is the scheme’s most honest buyer, the offset model works without pretending. A recovery investor buying the airport’s empty 7-million capacity and 2025’s Angkor baseline at the town’s best completed address is making a legible, priceable bet. A documents-first scarcity buyer gets the rare Siem Reap purchase where every question has a paper answer. And a yield-first investor comparing spreadsheets should buy Phnom Penh instead, and can say so without insulting this building, because the building’s own numbers say the same thing.

Closing verification checklist

Before any deposit: obtain the registered strata plan, it settles the 241-vs-207 question authoritatively; secure the quota ledger extract in square metres, dated; run the provincial Land Office title and encumbrance search with realistic timeline expectations; build the three-scenario seasonal model (stressed 2026, baseline 2025, airport-fill recovery) for the exact unit; test the ask inside the $2,000-$3,000 prime-strata band, not the town’s general range; confirm short-term-letting rules if that is the plan; and time the transfer against the 2026-12-31 duty window with the 20% capital gains regime from 2027 in the exit model. A completed square in an unfinished market earns its premium precisely by making this list answerable: insist that it does.

Frequently Asked Questions

What is Rose Apple Square and who is the developer? +

A completed mixed-use community square on Sok San Road, Svay Dankum, Siem Reap, by Urban Living Solutions (ULS), 241 listed condominium units (93 studios of 32 sqm, 115 one-bedrooms of 47-55 sqm, 28 two-bedrooms of 72-78 sqm, 5 three-bedrooms of 136 sqm) with strata offices alongside. One source counts 207 residences; the discrepancy is flagged on this page, not smoothed over.

Can foreigners buy at Rose Apple Square? +

Yes: Cambodia's strata co-ownership law is national: units above the ground floor can be held in a foreign buyer's own name, inside the 70% cap on total private-unit area, in Siem Reap exactly as in Phnom Penh. The scheme is completed, so quota headroom is a documented number to request in writing.

How much do units cost? +

Listed pricing runs $86,950 for a 32 sqm studio to $222,700 for a 136 sqm three-bedroom, about $2,750 per sqm on average. That is above Phnom Penh's $1,800 citywide average and sits at the top of Siem Reap's $2,000-$3,000 band for newer foreign-eligible strata, of which the town has very little.

What rental income is realistic in Siem Reap? +

Agents quote 7-8% average yields; treat that as a claim, not a plan. Tourism income concentrates November to March, and 2026 has been hard, Angkor logged 428,223 international visitors in January-July, down 30.7% year on year. Model a seasonal calendar with real low-season occupancy, not 12 flat months.

Why buy Siem Reap over Phnom Penh at this money? +

Not for spreadsheet yield, Phnom Penh's year-round tenant base is the safer income machine. The honest cases are lifestyle use with income offset, conviction in the tourism recovery (the $1.1 billion airport runs far below capacity), and scarcity: completed foreign-eligible strata in Siem Reap is thin, and this is its best-documented example.

What is the unit-count discrepancy? +

Most sources, including the sales side, list 241 condominium units; one source counts 207 residences. The difference may reflect reclassified or held-back stock, but we could not confirm the reason, so this page flags it and directs buyers to request the registered strata plan, which settles the number authoritatively.