If it's central location and under $1200 / sqm and you have the money, it should be no brainer. Buy it.
You just have to look how the city has grown in last 10 years. If the growth is anywhere near the same in future, all locations within 6-8km from center are good investments as long as the price is right. Phnom Penh is now like Bangkok in mid 90s. I bought an apartment there at the time, lived there for a year myself and then rented it out. It has now paid for itself 4, almost 5 times. And I would still get pretty much the same price what I paid for it.
Apartments don't generally appreciate same way as they do in west though. You have to remember that.
Are you buying from the building in picture? That is in pretty good location. So if the price is good, buy.
buying a condo
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