Scarcity of land makes it a valuable asset to own, especially in and around the area of Colombo. Properties for sale in Colombo has experienced faster growth because of the heavy investment put into real estate. Today, Colombo is a hot-spot for luxury properties such as star hotels, mixed developments and different types of commercial buildings. A land and house for sale in Colombo 5 facing Layards Road is on the market for Rs. 220 million. It is a 14.26 perch land and occupies two houses presently. Meanwhile, a 17.2 perches property for sale in Colombo 4 is located near St. Peter’s College at Rs 9 million per perch. This is suitable both for a residential or commercial use. Lands for sale in Colombo are needed to build houses and apartments to satisfy the housing needs of the large population living in this city. Due to the active nature of demand for Colombo lands, property developers such as Prime Lands regularly maintain a database of suitable property for sale to help potential buyers.
As expats also prefer settling down in Colombo there is a huge demand for properties for rent in Colombo as well. These come in the form of luxury multi-story houses with large gardens, apartments, annexes and even single rooms. These also benefit the traveler, local professional and student living in Colombo on a temporary basis. It is not uncommon for people to initially live at rental properties before investing in lands in Colombo. A bare land for sale in Colombo 7, consisting of 23 perches facing a 20 feet access road is at a market value of Rs. 16.5 million. The main benefit of buying land is its versatility. Bare lands for sale in Colombo can be directed either towards a housing project or to develop a commercial need. Owning a commercial land for sale in Colombo means holding an important piece of real estate. A 30 perch property is on the market at Nugegoda. It is available for sale as smaller plots such as 12 perch and 8 perch plots as well. The price is Rs. 3.25 million per perch. As it is situated within 600-700 metres to the main junctions and High Level Road, it is a good real estate option for businesses.
Colombo map clearly indicates how congested most parts of this city are. It is packed with offices, shops, malls, institutions and residential properties. This makes Colombo land prices soar high. Hence, land for sale in Colombo district further away from the centre of the city offers buyers greater opportunity to choose the ideal land plot. For Rs. 1.5 million per perch, a 12.9 perch land for sale in Kalalgoda is situated overlooking a scenic stretch of paddy fields. It is situated 2 kilometers from the Thalawathugoda junction and faces a 15-20 feet wide access road. Such tranquil, pleasant neighbourhoods are perfect for buyers who prefer quiet places to live within close proximity to Colombo. A land sale in Colombo along the Galle Road is a favourite to construct luxury apartments and mixed developments. It is a premium location close to famous schools, business hubs and other facilities. Whether one prefers to live in the busiest part of Sri Lanka or closer to natural surroundings such as paddy fields or the ocean, Colombo district turns out to be a not to be missed spot to invest in real estate.