Sri Lankan Luxury Properties

If homeowners or investors are looking for Sri Lankan luxury properties, the safest choice would be to say Colombo. Colombo is the central hub to a number of luxury properties and luxury residencies designed and constructed by leading property developers in the country. Mid range projects are popular in the suburbs and geographic locations including Malabe, Ja-Ela, Wattala, Moratuwa and Panadura can be seen developing rapidly in recent years. However, the need to build luxury condominiums or apartments in the suburb has not got a jump start as yet.

The official need to build luxury houses in the suburban areas has not been given the green light. Nonetheless, homeowners looking to buy their second home or expats wanting to reside in a luxurious apartment and investors renting out to locals and tourists are an element of the real estate industry which has not been explored so far.

How much would a luxury condominium located in Colombo cost approximately? According to well known sources, the cost would be close to 30 million rupees. This is due to an increased demand within the city and prices of land rising in recent times. If luxury condominiums are built in areas like Kandy, Polannaruwa or Jaffna it would be considerably cheaper.  This would result in a lower selling price. Buyers looking to purchase a lavish condominium may opt to buy it outside the city for a higher price than on a mid range home.

The last decade has seen an increase in the expat community and tourism industry. With expenses being on a lower scale compared to other tourist destinations, Sri Lanka has become not just a short stay tourist hub, but a long and more permanent travel destination. Sri Lankans who have left the country more than 30 years ago, may very well be coming back to their own country to settle down. This community may be interested in purchasing luxury homes not just in Colombo but in their own hometowns, like Jaffna or Kandy.

With a stunning and varied beauty, Sri Lanka has been blessed with natural wilderness, panoramic views, magnificent mountains and valleys, white sandy beaches and hospitable people. It is a bio-diverse island with varied climate and scenic landscape which has led to a boom in the property market. Condominium property developers have looked at this opportunity as a lucrative investment. The demand for luxury properties in Sri Lanka has remained buoyant with positive growth rates being experienced in the real estate industry.

Sri Lanka is a preferred destination of travel. In fact many tourists who have visited the island once have come time and again with a few opting to stay on permanently. The niche market for this group of people has yet to be explored. The expat community look for basic luxury and property developers should take complete advantage of this un-examined element which can be both lucrative on not just a professional standing but within the country’s standing as well.


Sri Lankan Luxury Properties