Property for sale in Sri Lanka
Sri Lanka, formerly called Ceylon, is an island country in the Indian Ocean, south of India. The country is famous for Buddhist ruins, including the citadel of Sigiriya, from the 5th century. In the city of Anuradhapura, the ancient capital of Sri Lanka, there are many ruins that date back more than 2000 years ago. Due to its particular shape and its proximity to the Indian coast it has been dubbed India's tear. It is part of the British Commonwealth.
The Sri Lanka real estate market has developed a lot in recent years and offers many opportunities. While the current growth trajectory has given way to many opportunities to continuously emerge, the growth of the sector has also seen the rise in property for sale prices in Sri Lanka by its side.
Sri Lanka's emerging real estate market remains susceptible to external influences, largely due to geopolitical sensitivities associated with the island's strategic position along the maritime component of the Chinese Belt and therefore vulnerable to a lack of direction and leadership at ministerial level, due to problems such as lack of transparency and an inconsistent political framework. 2018 seems to be so fragmented that 2017 has shown itself, with some sectors "out of sync", which are at different stages of their respective cycles and others have a better capability to respond to changing circumstances.
The residential sector is the most visible of the real estate investment classes, certainly Colombo is closer to the personal aspirations of most people who want to buy property for sale in Sri Lanka so it is in fact a point of reference for Sri Lanka real estate. The 2017 was characterized by concerns of the central bank on a potential inflated bubble and on the exposure of bank loans to the real estate sector, fuelled by the sentiment of the market and by a muted performance overall.
Port City will become a reality in 2018 with the launch of sales of development plans served to second-tier investors and the start of a mixed use pilot project to show the main planned mega project to a global audience.
The new infrastructures are becoming an element of differentiation and the opening of the Rajagiriya flyover bodes well for the residential sector in those suburbs that see an improvement in traffic flows, with the opening of this important new road and many offers of property for sale in Sri Lanka.
Analysts are predicting that the luxury housing segment could potentially overtake the Sri Lankan market by 2020.
There are many residential projects and many properties for sale in Sri Lanka in the following locations throughout the island: Colombo; South (Galle, Matara, Hambantota); Central (Kandy, Nuwara Eliya, Matale); and North East (Jaffna, Kilinochchi, Mannar, Mullaitivu, Vavuniya).