Real Estate Trend Predictions In Sri Lanka
Over the past decade, residential property development and construction projects in the form of luxury apartments have been continuously booming in Sri Lanka. The demand for vertical living is skyrocketing at a more rapid pace than ever before. Also, many positive changes have taken place in the real estate sphere of Sri Lanka, such as progressive urbanization initiatives, futuristic landscaping and liberal real-estate policies to attract local and global investors.
Above all, Sri Lanka’s strategic geographical position on the world map and its international relations has made it an attractive hub for property investors from all corners of the world. Another key reason is the change of Sri Lankan real estate policies to become more transparent and investor-friendly offering many benefits. For example, by investing more than $75,000, a foreign investor will receive a 10-year resident visa whilst enjoying a great tropical life.
Given the limited residential apartments and under-supply of housing projects in the future, the demand for luxury residential apartments in Sri Lanka’s major cities and suburbs is continuing to soar with each passing day. High-net-worth local individuals, professionals and ex-pats have shown keen interest in purchasing pre-constructed luxury apartments at prime locations. Home Lands Skyline’s new luxury residential apartments added to the local market are expected to skyrocket further and all our valued investors can enjoy a high ROI beyond their expectations.
Having faced extraordinary economic challenges and many unforeseen trials, Sri Lanka’s overall real estate market is still resilient and has started to bounce back from the downturns. The Land Value Indicator (LVI) for the Colombo District as measured by the Central Bank appreciated by 9.5% in the first half of 2021, compared to 2020. This shows the promise and resilience of the local real estate market and solid growth prospects.
Further, the trend of ‘Gated Housing Developments’ and ‘Gated Community Living' has started to pick up in suburban locations. The houses will be designed and built according to the interested target group catering to their preferred lifestyle. It is also noteworthy, that the land values in Colombo and suburbs have continued to grow despite the pandemic followed by the local economic crisis. Also, there is a strong indication that land value will continue to remain strong considering its long-term investment opportunities and future property value appreciation. On the whole, the demand for properties in the cities and suburbs is expected to rise further in the future. Sri Lanka’s residential real-estate industry seems unstoppable with the rising demand! However, due to the high inflation rate and imposed import restrictions - the construction of residential projects will continue to face minimal to no impact.
With years of industry experience, Home Lands Skyline is a leading property developer in Sri Lanka with a dedicated in-house construction arm – Home Lands Constructions. It is the industry front-runner with a spanning portfolio of luxury residential apartments and high-value housing projects across the island. By creating the perfect living environment with a complete range of luxury facilities, we ensure high ROI and value for money for each homeowner.
In recognition of its world-class standards in all construction projects, Home Lands Skyline was awarded as the “Best Developer in Sri Lanka” at the Asia Property awards 2021 and received the prestigious status of “A (lka) Stable” by FITCH ratings for its solid financial stability. Further, Home Lands Constructions received the highest status standard of “CS1” from CIDA, reflecting high construction standards in the local construction industry. In RIU's market research, Homelands Skyline was also identified as the “Most preferred real estate brand in Sri Lanka”, highlighting strong customer goodwill and trust held in the brand and company.
If you’re looking for a well-designed living space with world-class amenities and one that ensures high ROI and value for money, Home Lands Skyline is the place.