Joanna James
Investing in apartments in Sri Lanka’s urban cities is a great way to create capital through real estate. Not only does it provide a steady stream of income, but it also proves to be a fruitful venture despite times of economic uncertainty. If maintenance and management are handled well from the start, Sri Lankan apartments are more than a feasible investment option that is guaranteed to yield a lucrative return in the future. Here are a few strategic reasons why investing in apartments is a good idea in Sri Lanka.
Renting out your apartment properties makes for a reliable stream of rental income every month. This steady flow of cash assists in mortgage payments and yields an income stream that is higher than typical stock dividends, given that real estate is often secured over 9 to 14-month periods. Additionally, banks are always ready to lend loans to those with apartment investments as this indicates a guaranteed income stream, from multiple sources for those who invest in multiple apartments.
Real estate properties in Sri Lanka often tend to increase in value at a steady rate making it a great source of earning, both short term and long term. As the property value continues to rise with time, you can be assured of receiving an increased income as time passes. If you decide to sell your property after a significant period of time, you stand to benefit from a dramatically increased property value.
Real estate assets are known to have a meaningful value as physical assets and this includes apartments. This is because the property’s land and structure have additional value and apartment investments are not subject to red and green days as is the case with stock markets.
Another benefit of investing in apartments for sale in Sri Lanka is that you can purchase them off the plan. This means that investing in the property can be done even before construction begins, making the property far more valuable. You’ll also have time to save up a larger deposit sum as the mortgage requirement is not expected until settlement. In fact, a longer settlement period might cause your apartment to increase in value.
Another reason why apartments are good income sources in Sri Lanka is the high demand for the convenience they provide. Those living in the country’s urban environments in particular look for easy access to nearby necessities like public transport, dining options and shopping venues. Additionally, many modern apartments like those by Prime Residencies come with several amenities like parking facilities, gymnasiums, swimming pools, security, business areas and more. This means that you’ll have a higher chance of earning an income as many look to switch to the convenience of apartment living.
Investing in apartments will also mean sharing the cost of repairs and maintenance. Apartments with more amenities and features will certainly require a higher maintenance fee, but this also gives you the chance to increase future value or raise your rent due to building management needs.
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.
