Increase Among Overseas Buyers for Sri Lankan Properties as Dollar Drops

April 24, 2024
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There has been an increased amount in foreign buyers from UK, USA, Australia, Canada and Middle-East interested in buying properties in Sri Lanka. This increased interest is mainly due to the decline in rupee’s standing against the USD.

In the current market trend, even the value of old properties such as apartment’s built in the early 2000s continue to grow in value despite the fact that usually apartments lose their value overtime.

More than 6000 new residential units are estimated to enter the Lankan real estate market. The most in demand seems to be 3 bedroom units among all levels of dwellings over the past years.

Residential properties have become a good hedge against rising inflation in this Island.

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Sri Lanka Land Prices to Go Down in the Future

Sri Lanka Land Prices to Go Down in the Future

April 4, 2024
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According to Minister Bandula Gunawardena, the land prices in Sri Lanka will come down notably in the future. This is due to the gifting of deeds and long-term leasing of state lands to investors.
When State lands are handed to investors they don’t have to purchase land from the real estate market, hence the artificial pricing will go down and competitive prices will kick in.
Underutilized land belonging to the government of Sri Lanka will be leased to plantation agencies on long-term basis to investors with focus on exports.
Sri Lanka’s real estate market is a closed market. The gifting of deeds and the release of land for investment schemes opens up the market.
අමාත්‍ය බන්දුල ගුණවර්ධන මහතා පවසන පරිදි ඉදිරියේදී ශ්‍රී ලංකාවේ ඉඩම් මිල කැපී පෙනෙන ලෙස පහළ යනු ඇත. ඒ ආයෝජකයන්ට ඔප්පු පිරිනැමීම සහ රජයේ ඉඩම් දීර්ඝකාලීන බදු දීම හේතුවෙනි.
රජයේ ඉඩම් ආයෝජකයන්ට පැවරූ විට ඔවුන්ට දේපළ වෙළෙඳ පොළෙන් ඉඩම් මිලදී ගැනීමට අවශ්‍ය නොවන නිසා කෘත්‍රිම මිල ගණන් පහළ ගොස් තරගකාරී මිල ගණන් ඉහළ යනු ඇත.
ශ්‍රී ලංකා රජයට අයත් ඌන උපයෝජිත ඉඩම් අපනයනය කෙරෙහි අවධානය යොමු කරමින් ආයෝජකයන්ට දීර්ඝ කාලීන පදනමින් වැවිලි ආයතන වෙත බදු දෙනු ඇත.
ශ්‍රී ලංකාවේ දේපළ වෙළෙඳ පොළ සංවෘත වෙළෙඳපොළකි. ඔප්පු ප්‍රදානය කිරීම සහ ආයෝජන ක්‍රම සඳහා ඉඩම් නිදහස් කිරීම වෙළෙඳපොළ විවෘත කරයි.

Most Expensive Neighborhoods in the Colombo

April 23, 2020
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Colombo is one of the busiest cities in Sri Lanka and also the capital of Sri Lanka. Colombo is the main business hub and there are various businesses operating on a daily basis. The Sri Lankan real estate market has boomed in recent years and also it has resulted in creating a huge demand for all the properties in Colombo. While our research has found that some neighborhoods are experiencing a shift towards a buyers’ market, many areas are still largely unaffordable for the typical home buyer. We took a close look at the top five expensive areas, and then we listed down the estimated price for each location. We also listed the commercial value and the residential value for areas in different locations. These Commercial Value and Residential Value are not exact and these values change due to many factors like the overall road frontage and other reasons.

Colombo 7

Colombo 7 is one of the most prestigious neighborhoods in the country and it the home of some of the affluent people in Sri Lanka. Colombo 7 also has many foreign embassies and high commissions. Also, historic monuments such as the Prime Minister’s Office, Independence Hall, Colombo Town Hall, and National Museum of Sri Lanka.

LocationCommercial ValueResidential Value
Bauddhaloka Mawatha10 Million – 15 Million10 Million – 12 Million
Horton Place13 Million – 15 Million13 Million – 15 Million
Barnes Place13 Million – 15 Million13 Million – 15 Million
Ward Place12 Million – 15 Million12 Million – 15 Million
Wijerama Mawatha12 Million – 15 Million12 Million – 14 Million
Maitland Place10 Million – 12 Million10 Million – 12 Million

Colombo 3

Colombo 3 is one of the biggest commercial spots and also a residential neighborhood for the high-end crowd of Sri Lanka. There are many shopping malls and foreign embassies located throughout Colombo 3. Also, the Prime Minister’s House (Colombo) is located in Colombo 3 and it surrounds a multi-ethnic area. Many Chinese expatriates have opened shops and other businesses that cater to the Chinese expatriate community.

LocationCommercial ValueResidential Value
Galle Road12 Million – 16 Million14 Million – 16 Million
Duplication Road12 Million – 16 Million12 Million – 16 Million
Charles Drive12 Million – 15 Million12 Million – 15 Million
Bagatalle Road12 Million – 12 Million 9  Million – 12 Million
Queens Road11 Million – 12 Million11 Million – 12 Million
Alfred House Garden10 Million – 12 Million10 Million – 12 Million
Alfred Place10 Million – 12 Million10 Million – 12 Million

Colombo 4

Colombo 4 spans out to the marine drive to Havelock town, it is home to some of the biggest educational institutes and prestigious schools. It also has many diplomatic consulates located in various areas. Colombo 4 covers Bambalapitiya and also part of Wellawatte.

 LocationCommercial ValueResidential Value
Vajira Road5 Million – 7 Million5 Million – 7 Million
Station Road4 Million – 6 Million4 Million – 6 Million
Visaka Road5 Million – 7 Million5 Million – 7 Million
De Fonseka Place5 Million – 6 Million5 Million – 6 Million
Melbourne Avenue4 Million – 5 Million4 Million – 5 Million

Colombo 5

Colombo 5 covers Havelock Town, Kirulapana and Kirilapone North.  Havelock Town is a one of the largest developments in Colombo and also Colombo 5 houses many important individuals. Also, there are many prestigious colleges covering Colombo 5 and also some embassies.

LocationCommercial ValueResidential Value
Elibank Road7 Million – 10 Million7 Million – 10 Million
Park Road4 Million – 6 Million4 Million – 6 Million
Fife Road4 Million – 6 Million4 Million – 6 Million
Isipathana Mawatha4 Million – 6 Million4 Million – 6 Million
Havelock Road4 Million – 5 Million4 Million – 6 Million

Colombo 6

Colombo 6 covers two major suburbs such as Wellawatte and Pamankade. Colombo 6 is home to many ethnic groups and also different religious shrines.

LocationCommercial ValueResidential Value
W. A Silva Mawatha4 Million – 6 Million4 Million – 6 Million
Stratford Avenue4 Million – 6 Million4 Million – 6 Million
Hampdon Lane3 Million – 5 Million3 Million – 5 Million
Ramakrishna Road3.5 Million – 5.5 Million3.5 Million – 5.5 Million
Manning Place4 Million – 6 Million4 Million – 6 Million

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