Prospects of Real Estate in Sri Lanka
It is intended to draw the attention of prospective investors and high net-worth
individuals on what Sri Lanka real estate has to offer as a second home or a retreat
like what Spain / Mauritius was for Europe or the Caribbean was for America. Thereby
be in the forefront in property sales to previously untapped investors from China,
Russia and Middle East.
The property investment potential in Sri Lanka is broad and stems from two primary
facts, firstly Sri Lanka is an incredibly popular tourist destination and secondly
Sri Lanka is growing in popularity with western second home seekers looking for
an alternative and affordable winter sun destination.
As Sri Lanka's best season occurs during North American and European winter months
the country is hugely popular from November to March with American, British and
European holiday makers and retirees. This presents another opportunity to the international
investor seeking the strongest rental yield potential from property in Sri Lanka.
Sri Lanka, the 'teardrop of India' is a country that presents property investors
with as many opportunities as it does challenges making the real estate sector on
this Asian island one of the world's most exciting prospects for a property purchaser.
Lying in the warm waters of the Indian Ocean, tropical Sri Lanka is an island blessed
by nature with the most extraordinary and varied beauty. From endless palm-fringed
beaches to tea carpeted and mist-enveloped hills, its varied landscape and climate
makes it the most bio-diverse island of its size in the world. Combined with nature's
bounty is an extremely rich cultural heritage that boasts a number of world heritage
sites and many examples of man's early triumphs of civilization. The country by
and large had been unaffected by natural disasters except for the impact of 2004
Tsunami.
The attractions of Sri Lanka are immediately obvious - a fantastic climate, perfect
beaches, a wealth of history and culture, incredibly warm and friendly people, great
food and very cheap prices.
The stunning tropical beaches are a massive draw for tourists, second homers and
even retirees, and land and property for sale or development are in abundance in
certain parts of the island. Purpose built developments for overseas buyers are
popular and house and land prices remain relatively affordable making Sri Lanka
appear like a perfect destination for a developer, investor or a second home seeker.
There is no denying the appeal of Sri Lanka and there is no denying the fact that
many foreign buyers would like to purchase and own land or a home on the island.
Of recently it has become a trend for many Westerners and East Asians (Hong Kong
and Singapore) to invest in Villas has pushed up the prices of real estate in Sri
Lanka to some extent, but still it remains relatively cheap compared to other destinations.
More recently Russians and some Arabs have entered in to Sri Lanka real estate.
Attractive properties in Sri Lanka had so far not been marketed to potential Chinese
High Net-worth Individuals who would most likely want to taste the luxury of holidaying
in your own property! Like their compatriots in the West.
Unique features of Sri Lanka are that it offers varied landscape and bio-diverse
properties to suite the taste of different types of individuals. Key types of property
which are attracted are;
- 1. Property with private beach frontage / access
- 2. Ancient heritage properties with all modern amenities
- 3. Estate Bungalows with tea carpeted and mist-enveloped hills
- 4. River/lake front properties
- 5. Private Islands off the Southern coast of Sri Lanka
A growing number of overseas visitors seek to establish a base in Sri Lanka and
there are opportunities for investors to develop properties for the express purpose
of selling on to these individuals. Secure communities and properties with high
specification interiors sell particularly well and second home owners coming to
Sri Lanka now tend to be more affluent and can afford to spend more on their second
homes.
Property investors examining Sri Lanka have to find the most appropriate investment
path to suite their own specific criteria for profit. As stated the opportunities
available to international investors are very broad but many opportunities are so
specific and restrictive that an investor considering Sri Lanka real estate should
do so carefully. Caution should be applied to the selection of an investment type,
we at SRILANDS real estate in Sri Lanka are here to drive you safe…..
Contact our investment desk investments@srilands.com