Lamudi’s annual real estate market report on Sri Lanka is released. Each year, Lamudi’s researchers take an in depth look at the emerging markets where they operate. After consolidating the most important information about the economy and the local market, a whitepaper is created. This whitepaper aims to inform potential investors about the market, its potential, and its challenges.
Outside of the realm of investors, anyone interested in Sri Lanka’s real estate industry can consult this useful report. Readers can gain all the information they need without needing to hunt through data hidden on sites across the web.
As well as focusing on the real estate market specifically, this year’s whitepaper reports economic trends which emerged within the country over the last year. Sri Lanka’s economy is going from strength to strength with steady growth, increased urbanisation leading to greater wealth, and a rapidly expanding tourism industry. It is clear that the country has experienced an impressive revival since the end of the war in 2009. Positive trends indicate that now is a great time to invest in a country which is encouraging increasing amounts of foreign investment.
Real estate market report
With state of the art modern high rise buildings adorning Colombo’s skyline these days, it is fair to say that Sri Lanka’s real estate landscape has changed dramatically since peace was declared. Infrastructural development on the island is underway and although the focus of large commercial developments is still on the capital, other cities, such as Kandy, are on the cusp of booming thanks to increased tourism numbers.
Since Colombo’s growth is happening faster than elsewhere, both residential and commercial land and property command higher prices in the city. Property prices are increasing in both sectors.
However, property across the island remains affordable with young professionals being the main purchasers of residential city property. Apartment living was not a concept that was familiar to most Sri Lankans until recently. It seems that living habits are changing with vertical living becoming the norm as the country becomes increasingly developed.
Changes that took place in 2016
Alongside price trends, this year’s whitepaper outlines demographic trends and changes in laws which are encouraging new target markets, including overseas investors.
The new visa options available for potential buyers are detailed in the whitepaper as well as plans to initiate real estate investment trusts.
Sri Lanka is emerging from being under global investors’ radar to being a destination for profitable business decisions. 2017 looks hopeful as many world class developments are underway. Next year’s whitepaper promises to bring yet another balanced report on this flourishing haven for property seekers.
(Lamudi is a leading global property portal focusing exclusively on emerging markets. It offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.
Lamudi was established in 2013 in Berlin, Germany and it is currently available in Latin America (Mexico, Colombia and Peru), Asia (Philippines, Bangladesh, Indonesia, Myanmar, Pakistan, Sri Lanka) and Middle East (Jordan, Qatar, Saudi Arabia, United Arab Emirates).
Within fewer than three years, Lamudi has established its presence as a key online real estate marketplace in the countries where it is operating.)
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