Impact of Covid 19 on Real Estate Colombo Sri Lanka | Blog | Apartments in Sri Lanka


How Has COVID 19 Impacted The Real Estate Market In Sri Lanka Real Estate Colombo Sri Lanka

August 28, 2021

COVID 19 has been a disaster for many economies around the world. This distressing pandemic has had several effects on the Sri Lankan economy, particularly real estate, and according to research, real estate has been somewhat reshaped as a result of COVID 19. Colombo, as Sri Lanka’s capital city, has, of course, become the epicenter of this change. Comprehensive research shows that in 2019, Colombo saw a significant increase in the value of the real estate; however, now that COVID 19 has taken its disruptive toll, what is the impact that the Colombo real estate sector is now facing?


Steady statistics

It can be confirmed that the real estate value of apartments in Colombo has not changed significantly in comparison to many other countries such as the United Kingdom; despite the fact that many other sectors, such as tourism, were adversely affected by COVID 19, the general price of real estate in Colombo, Sri Lanka remains stable.


Traffic growth

It may come as a surprise to many, but there has been a noticeable increase in the interest of many potential buyers in real estate during this time. This is demonstrated by the new, luxurious apartments in Canterbury Golf Resort and Canterbury Gardens which offer an elegant, modern apartment that is difficult to ignore! According to research, this increase began in mid-2020 and is still ongoing, with many buyers looking for new homes in Colombo.Many buyers are looking for luxury real estate in Colombo Sri Lanka.

Stalled purchasing

Although the value of real estate property has remained somewhat reliable and there is genuine interest in Colombo’s real estate. Additionally, research shows that when it comes to actually make a purchase – this process seems stalled. The new apartments in Colombo are also more expensive for wealthy buyers, making the property unaffordable for many people which makes resort apartment projects like Canterbury Golf Resort Apartments and Residencies – Piliyandala – Kahathuduwa and Santorini Resort Apartments and Residencies – Negombo the preferred choice.


Canterbury Golf Apartments- Only a Limited Units Available – Contact Us


Reduced Land Value

The outer suburbs, on the other hand, experienced no decline at all. The main reason for this large disparity is that many people prefer to live in a suburb rather than a bustling city, and the general price of land in Colombo appears to be more expensive for potential buyers.

Most Viewed

Benefits of living in the Greater Colombo area..

Are you thinking of moving away from the hustle and bustle of the city and into the greater Colombo area? You ..

The 5 most common pitfalls of buying a home and how to avoid them...

Purchasing a house is one of the greatest monetary decisions that you'll ever make. What's more, with keeping ..

What to Remember When Purchasing an Apartment in Sri Lanka..

Purchasing the apartment that you were looking forward to buying and saving up for it is a huge and exciting s..

Copyright © 2021 - Home Lands Skyline - All Rights Reserved, Concept, Design and Development by Weblankan