Joanna James
Ever thought of buying an apartment in Sri Lanka but wondering if it's the right choice? Then keep reading so you can make a calculated decision best suited to your needs and interests.
The recent economic disaster might make this statement seem strange, but in reality, many of Sri Lanka's high-end and real estate projects are going great. You will find plenty of apartments, modest to high-end, springing up across the capital and even in the interior areas. New projects mean much-needed capital to the country, so the government is in favour of promoting real estate to bring in foreign investors with many benefits. There are no end to the apartment choices when it comes to Colombo and the suburbs.
Ever since the 2019 Easter Attacks and COVID-19, followed by the economic fallout, Sri Lankan tourism has suffered immensely. But the latest reports indicate Sri Lanka is once again back on the map, with tourist arrivals increasing day by day. This means there are plenty of tourists looking for comfortable accommodation, and investing in an apartment is a smart way to make business.
You will come across many types of apartments in Colombo. The high-end market is the most thriving, but that's not the only type available. Even modest, semi-luxury apartment complexes are gaining momentum. The market wants to attract customers of all incomes, especially with the current economic crisis, not all have the means to dole out cash on super luxury accommodation. That means the market is diverse enough for you to make a decision based on your budget, and allow you to make a sizeable income or create the comfortable home you desire.
Apartments can be found in Colombo, and many of its suburbs allowing you to enjoy the island's capital to the maximum. You can easily find a super luxury apartment close to shopping malls, supermarkets, hospitals, pharmacies and schools. Those of you who are keen on experiencing Colombo's nightlife won't be disappointed either. Plenty of establishments can be found close to restaurants, bars and clubs. If you prefer a more laid-back lifestyle, look for suburbs like Battaramulla, Kotte and Rajagiriya. If waking up to the sound and smell of the sea each day sounds like a dream, locations like Mount Lavinia or Wattala might be just the place for you. If you are looking to buy apartments in Sri Lanka, you can check real estate companies like Prime Residencies to give you a better idea on this matter.
If looking solely as an investment option, buying an apartment in Sri Lanka is still a smart choice. Real estate prices are becoming more affordable and you will encounter many apartments for sale. There are flexible payment plans offered by the industry to attract buyers of all backgrounds. Plus, when they are vacant, having a home ready and waiting for you on the island is a comfort.
A true believer that the pen is a mighty weapon, ventures into reaching the minds of every reader with the earnest hope of leaving an indelible stream of thought.
A travel writer who has a passion for fashion and a deep interest in admiring new and exotic attractions around the world.
