HANDLING PROBLEMATIC NEIGHBOURS

Owning a dream home is everyone’s eventual goal. People invest their hard-earned money in a property to make their dream come true. So when trying to select the options available, one of the most pressing issue would be whether to buy a house with land, or a villa in a gated community or an Apartment.

CONVENIENCE & AMENITIES

Today most Sri Lankans prefer to invest their wealth into apartments in Sri Lanka such as in Colombo City due to the flexibility and facilities an apartment provides in terms of living. The major factor being able to commute easily to work, school and other essential facilities such as banks. Since many young professionals are migrating oversees, they find it easier to move their parents to a good apartment where in-house or access to nearby medical facilities is available and due to the security and convenience factors as well.

One of the superior aspect of apartment living is that residents get to enjoy a range of premium amenities that enriches living experience such as Gym, Swimming Pool, BBQ Terrace, Yoga Deck, Recreational indoor and outdoor sports activities within the premises. This shift is a deliberate choice made due to the evolving preferences towards urban living in Sri Lanka.

FLEXIBLE PAYMENT PLANS BY DEVELOPERS

Unlike buying a house with land where you need to invest upfront or go for a Bank Loan with higher interest rates along with a huge down payment, most of the new upcoming apartments in Colombo and Suburb Cities offer flexible payment plans such as 10-20% Reservation fee along with 1% interest-free monthly payment of the property value for 2 to 3 years and then the final remaining balance to be paid in bulk. This gives buyers the freedom to manage their cash flow and investments to make the payments and own the property hassle-free.

MAINTENANCE & REPAIRS

Imagine you buying a home with land and building a swimming pool, gym, a tennis court and a billiard table in-doors and having to do landscaping and garden maintenance, plus maintain the pool etc on top of the maintenance of the house such as the roof… sooner you will be burdened with the cost and workload of shouldering many responsibilities involved in each stage of property maintenance. On the other hand, in apartments you get to enjoy all these facilities well-kept and maintained hassle-free by the developer for a nominal monthly service fee.

SECURITY

Another most vital factor when selecting an apartment is the security in offers for the residents 24/7 year-round. The well-being of the family is crucial over the comforts and flexibilities a property provides. In most apartments in Sri Lanka, you will find latest technologies deployed to protect the residents such as Security screening the visitors, Advanced CCTV, Smart Sensors, Video Doorbell Camera, Smart-Locks and Elevator Access Control Systems to name a few.

COMMUNITY & SOCIALIZING

A good neighbourhood goes hand in hand with a good property. Apartments in Sri Lanka are full of friendly neighbours giving you the opportunity to interact and build new relationships creating a sense of community with lots of special events, gym sessions, game nights, BBQ get together on weekends and so on.

RENTING & RE-SALE VALUE

Some investors purchase apartments in Sri Lanka in top cities and especially in coastal areas in the down-south of Sri Lanka such as beach-front apartments and residencies due to their amenities and attractiveness in terms of able to lure foreigners who visit the Island for short-stay during vacations. These rental apartments are most sought after in booking websites like Airbnb and Agoda. Also apartments based on their locations, views, amenities, size and layouts as well as maintenance; preserves the value of your property.

Port City is one of the largest foreign investments happening in Sri Lanka, which was planned around 10 years back but started implementing recently being a widely spoken topic. This is a newly developing city as an extension to the commercial capital of the country with the intention of improving business inventions. Since this becomes a noteworthy turning point of the whole concept of urbanization and industrialization, this can be a game-changer in different sectors in the country. 

This currently developing Port City, the economic zone, and the International Financial Center located in Colombo has been one of the major milestones in most of the revenue markets on the island. Likewise, this is being an integral part of the real estate market in Sri Lanka which is presently boosting and widening its territories with flowing in direct foreign investments. Port City has become a bridge to expand this new dimension of the market along with its quality as well as the demand for the market. 

Implementing the port city in the center of the real estate industry indeed brings a vast number of benefits to the market. Most prominent thing is that following the sophisticated technologies and the structures of Port City, the developers around Colombo start to improve their standards and their structures. In a way, the authorities will also allure to keep a step forward to improve the infrastructure facilities around the city. This is not obviously concerning the competition, but because of the visible incompatibility. It is not realistic to have totally different two worlds in the same industry. Thus, Port City uproots the expected standard of the real estate territories of Colombo because of which the demand heightens for the apartment and residential premises within the city. 

On the other hand, most importantly Port City clears the path to attract outland population along with foreign investments that the real estate marketers strive hard to achieve in the present scenario. The reason for this is that Port City itself opens up foreign investments and international financial avenues and thus the flow of foreigners increases. Getting benefits out of it, real estate marketers around Colombo can attract some of them to their developments since they all are situated quite near to the Port City premises. Therefore, Port City leads to higher up outland demand for the market which is not easy to achieve.

Apart from that, it also works on attracting more local population out of Colombo since the Port City takes the development into another magnitude. Hence, the internal population tends to shift more towards Colombo focusing on the evolution happening within Colombo. This tendency opens the doors to the real estate marketers around Colombo since the demand could be high for their projects along with the shifting population. Not only that, because of the demand, there is a possibility of springing up new real estate projects as well. 

Bottom line is that Port City indeed is a game-changer for the real estate market as it increases the demand both locally and internationally while promoting and raising up the industry to higher levels.