Current Trends in Apartment Architecture

May 11, 2024
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With a huge change in the lifestyle preferences, it has become essential especially for upcoming apartments and residencies in Sri Lanka to focus on the current concepts, designs and amenities to cater to present generation.

 

Let’s take a look at some of the trending apartment architecture today.

 

Bringing Nature Around and In-Doors.

Today’s home buyers love an environment with lush greenery in their living spaces and surroundings. They prefer to have plants in-doors and make eco-friendly investments. Today’s developers are incorporating natural elements such as natural materials, sunlight and greenery in their new projects making it a healthy one for mother-nature and residents.

Vivid Colours for the Living Spaces

For decades neutral colours and designs dominated interior spaces. But now pops of vibrant colours and jewel tones are being combined with deep earth tones for a more energetic tone. These colours are infused even through decorative items like vases, artworks or even stacks of books.

Smart Bathrooms

The ultra-modern bathrooms have become sleeker, cleaner and smarter. Gone are the day’s bathrooms revolved around stylish Tiles. Today’s bathrooms are designed to be more like a Spa for a soothing re-treat. Baths are evolving into sculptural pieces. From floor heating systems to smart faucets, the bathrooms are an exquisite aspect of modern luxury apartments.

Community-Centric Spaces

The idea of community living is progressing, with architects designing spaces that creates a sense of community and connection. From Roof-top Gardens and Lounges, Swimming Pool, Pub, Gyms, BBQ Terrace, Yoga Decks and Recreational Games inside the Premises, these spaces enrich social interactions and contribute to a gratifying urban lifestyle.

Astute Storage Spaces

Apartments now have dedicated storage for everything. For example, in the kitchen; the clutter has been lifted from cabinets and countertops to a pantry space containing prep stations, sink and Ovens.

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Aftermath of COVID-19 on the Real Estate Market of Sri Lanka

May 2, 2020
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This global crisis that we are facing right now, perhaps the biggest crisis of our generation. The decisions people and governments take in the next few weeks will probably shape the world for years to come. They will shape not just our healthcare systems but also our economy, politics, and culture. We must act quickly and decisively. We should also take into account the long-term consequences of our actions. When choosing between alternatives, we should ask ourselves not only how to overcome the immediate threat, but also what kind of world we will inhabit once the storm passes. Yes, the storm will pass, humankind will survive, most of us will still be alive — but we will inhabit a different world.

The Exit Strategy

It is impossible to develop static or a rigid strategy at this stage. The virus will appear and disappear in different places in the country. We will have to establish a mechanism that can cope with those changes. While many countries in the world are struggling to develop their exit strategies, we believe our thoughtful proposal will have the capacity to go from strength to strength with our experience. We will also be able to share it with other low- and middle-income countries which are looking for good examples – GMOA

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In short, Gutenberg doesn’t change how WordPress functions. It does, however, change the way website owners (or creators) interact with it. Instead of a whole lot of shortcodes and meta boxes, you will be using simple blocks.

Covid – 19 impacts on the Real Estate Market of Sri Lanka

May 1, 2020
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The economy is grinding to a halt. Will the real estate market follow?

The spread of COVID-19—the disease caused by the novel coronavirus—was officially declared a pandemic by the World Health Organization on March 11.

In Sri Lanka, we have 718 confirmed cases and 7 deaths from this pandemic disease of COVID-19. Sri Lanka is fighting successfully with a very high recover rate and also doing many PCR tests per day in order to battle COVID-19. But after recovering from the COVID-19 pandemic, will Sri Lanka’s Real Estate market remain as it was before the pandemic?

Sri Lanka has an estimated tourism industry that is worth more than $4.5 Billion. Due to COVID-19, it’s falling rapidly due to the total shutdown in Sri Lanka to fight COVID-19. With the economy taking a big hit on the market, the Real Estate industry will most likely fall due to the recession that is forecasted to be faced by Sri Lankans.

Real Estate markets during previous pandemics and concluded that while home sales dropped dramatically during an outbreak, home prices stayed about the same or suffered a slight decrease. This makes intuitive sense because it’s harder for prices to change when there are few transactions. In short, previous pandemics have simply put the real estate market on pause.

Real Estate Market of the Capital – Colombo

With the Real Estate market going into the pandemic was, in a word, tight. Consider Colombo, where property prices have risen drastically as it has become one of the country’s leading tech hubs. Due to COVID-19, the spending on any property purchase will be stopped and all big investments are likely to be paused. But after fighting COVID 19, there will be a high demand for properties around the capital of Colombo.  

  • Vendors wearing facemasks look for customers along a deserted street in Colombo. (AFP Photo)

Nearly a third of home building material inputs come from China, not to mention more finished products like bathtubs, sinks, appliances, and more. These supply lines have been disrupted. This could delay home construction at a time when it has finally picked back up. Since the financial crisis, home building has struggled to keep pace with demand because of the cost of construction, lack of available land, and a construction labor shortage.

This is significant because it suggests that the demand for housing is still there—it’s just a matter of waiting for the supply to return to the market. Taken together, the housing market appears like it will spring back into action once the virus allows for it to function again.

However, given the timeline for a home sale is usually a few months, the recovery will likely be gradual as opposed to instantaneous, and any recovery will still be subject to the virus flaring up again.

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