Sri Lanka Land For Sale

By Author: mac kevin
Total Articles: 1
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Sri Lanka is an area with unique qualities and is also quite beautiful. It’s an island that is appealing to many due to its landscape, beaches and good climate. It has a very rich culture with traces of mans early civilization .Sri Lanka is known for its good investment in both land and business.
Sri Lanka’s market is currently doing very well. Many have showed interest in the beautiful hotels and the luxury resorts. There are better opportunities for Sri Lanka and the currency is likely to improve in the coming years.
There have been few reports predicting doom for the property market in Sri Lanka but many condominium projects are doing well there has been no drop in demand. Growth in the population and urbanization has led to demand for houses and good and urban infrastructure. Reports say that the private sector is what plays a major role in the housing sector. Condominium housing has increased recently due to encouragement of corporate property development with incentives that are either direct or indirect.
Condominium development has also been boosted by Ceylinco Consolidated which is one of the largest ...
... conglomerates in Sri Lanka .It has new and very unique concepts. Recent analysts have continually mislead there readers by claiming that there has been a down word trend in the real estate market. They do not consider the target market for the housing. A recent article on a business website said that about 4,000 houses lay vacant without even specifying the location of the houses and who the housing area was meant for. The Central Bank even states that there has been a shortage of up to 350,000 units in Sri Lanka. sri lanka land for sale
Although there has been this kind of claims the truth of the matter is that the Sri Lanka property market has really tried to remain stable .Everything including the stability of the country were at risk but the real estate market remained stable. There was also ethnic conflict for quite a long time that led to the downfall of the economy.
Many of Sri Lankans are living abroad and are willing to come back home due to the improvement of the economy that has been brought about by the real estate sector. The real estate market was able to rise above it all.
Buyers of the Ceylinco projects have recorded about 30% increase annually. It has also brought more than Rs. 2 billion in terms of foreign exchange. Apartments are said to have increased to 100% value if compared to five years ago.
The houses in Sri Lanka offer a wonderful lifestyle .They contain sports area and many recreational facilities. The houses are not likely to lower in price any sooner even if the economy becomes stable. Rents have also risen at rate of 11% each year. sri lanka land for sale
Banks are not readily involved in supporting developers and contractors in Sri Lanka. If land and lending rates are eased by partnering developers then financial institutions could help in the housing sector and in the growth of the economy. Bad reports have made buyers run away from Sri Lanka. There should be a little positivity to encourage investors, developers and buyers to the area.