Lands for Sale in Sri Lanka

As the Sri Lankan economy develops so does its real estate. Following the end of a 30 year civil war 10 year ago, business confidence grew rapidly. Sri Lanka now ranks high among global tourist destinations. Tourism sector expansion calls for more properties in Sri Lanka than ever before. Lands for sale in Sri Lanka are used to build holiday bungalows and hotels. A land sale in Sri Lanka in prime locations or on the marine drive are ideal for mixed property development, luxury malls, apartments and star hotels. Galle Road is also a favoured commercial spot since it has an active bus route, connecting to different parts of the western province and other regions. As a result land for sale within these areas are a great investment. The value shows an upward trend.

The number of new hotel rooms in the past few years increased, thanks to the boost in tourism. Many international fashion brands and food chains have opened outlets in many parts of the country. This creates pressure on properties for rent in close proximity to busy roads and heavily populated cities. Rising income level motivates real estate companies in Sri Lanka to focus on delivering superb house designs and additional facilities. This is because there is a huge market for houses for sale in residential areas. When developing new properties for sale, builders prefer bare land for sale as these give them the freedom to use it as they prefer. Most have got approval to construct up to 3 floors.

Certain lands in Sri Lanka offer amazing scenic views, especially outside Colombo where there are large areas of paddy fields and plantations. Many acres are divided into smaller plots and sold as 6-13 perch land to suit a small family-sized house and a car park. Individual land, house included are also commonly advertised around the island. Some of these are ancestral property or with an old house, ideal for renovation. There is also a trend within the accommodation sector to buy such properties for sale and rent it out as a holiday home. Meanwhile, a few key factors determine the success of a land or house sale in Sri Lanka. One is the road condition such as whether the property is located near carpeted roads. Second is the history of natural disasters and thirdly, the neighbourhood.