The real estate market in Sri Lanka, along with the economy in general, has experienced gigantic growth in recent years. Once a primarily agricultural nation, Sri Lanka now developed into a manufacturing and services economy. Sri Lankans now enjoy the second highest average per person income level in all South Asia (only Maldives exceeding them), and their phenomenal growth will likely continue unabated into the foreseeable future. For example, GDP increase by over eight percent in 2011 alone. Locals have seen improvements in their standards of living, a shrinking of the poverty rate, and a reduction in unemployment. All this spells prosperity, and that prosperity translates into a housing boom. Homes are more plentiful, bigger, better, and over 90 percent have electric power. Business men and women from around the world are moving to Sri Lanka, increasing the demand for more housing yet further.
Online Shopping for Sri Lankan Real Estate
The advent of internet availability in Sri Lanka, especially the vast expansion of web-connected cell phone usage, combines with the housing boom to create an excellent opportunity for all seeking property in Sri Lanka to compare houses, apartments, and land-only property in one sitting. Images, headlines, prices, and detailed information from each seller and seeker make finding your new home or other property simple, fast, and convenient.
Houses in Sri Lanka
Thousands of homes of every size, layout, and price range are listed online at marketplace websites like ikman.lk that facilitate interaction between home sellers and buyers. Houses are searchable for all 25 of Sri Lanka’s districts, and it is easy to find possibilities and compare choices. Basic important facts such as the floor space, ceiling height, number of stories, inclusion or not of a yard, presence of electric, propane, natural gas, or other utilities, year built or remodeled, etc. will often be listed by the seller, but contact information will likely be available to allow interested persons to dig for more information.
Apartments and Condominiums in Sri Lanka
Many Sri Lankans have adjusted to the apartment lifestyle in recent years, and many foreigners planning to be in the country on business or pleasure for a few months to a few years also opt for an apartment or condo. Prime locations in Colombo and other major cities, being within walking distance of local grocery stores, restaurants, etc., and being well equipped with modern appliances, lighting, bathrooms, kitchens, and the like are all major draws for many apartment seekers. Parking space is also frequently included. Numerous short-term apartments are ideal for holidaying, weddings, and short business trips, but long-term rentals that meet the needs of those planning to stay awhile are no less common.
Land in Sri Lanka
Online adds detail the size, location, trees and greenery, water features if any, zoning type, and price of many Sri Lankan properties. The price may well be negotiable, so one should consider making a bid even if the listed price seems a little out of range. Agricultural, industrial, commercial, and residential uses of the land are all possible, depending on zoning. Availability of water and electric, nearness to major roadways, etc. will all be readily discoverable.
Commercial Properties in Sri Lanka
With business booming in western Sri Lanka, Colombo, and in the far north’s boating industry, there are plenty of commercial buildings that change hands online in Sri Lanka. Foreign investment has skyrocketed in certain sections of Colombo in recent years, and businesses are greatly assisted by the ability to quickly located, compare, and purchase business real estate online. Offices, travel agencies, restaurants, retail store locations, and more are among the types of commercial properties bought and sold.
Prices of Property in Sri Lanka
Homes in Sri Lanka, along with other real estate, have seen a major increase in price over the last few years, but there has been a corresponding rise in income level among the island-nation’s inhabitants. While foreigners living in Sri Lanka will pay more for homes than they would have five years ago, the purchasing power of Sri Lankan currency (the Rupee) is still twice that of most Western nations. Standards of living have risen significantly, but the cost of living is still low by the standards of long-industrialized nations. Thus, both sellers and buyers, whether foreign or national, stand to do well. That is the effect of a growing and prospering market.
Tips for Selling Homes in Sri Lanka
To effectively sell a house online, one should pay attention to a number of factors that may increase the odds of making a sale or of making one sooner:
Choose a photo that gives a full, large, and unobstructed view of the building.
Make further photos taken from different angles outside and in different rooms inside available to customers.
Use three to six words in the heading that clearly identify the type of property offered and what are its most important features.
In your full add, keep things clearly organized. Use up to a page, but do not bog the interested party down too much or he may not finish reading the add.
Cover the house room by room, mention all benefits, and do not forget to talk about the good points of the yard either.
Tell the reader what the house is near to call attention to draws the house has based on location.
Leave specific contact information: both how, when, and who to ask further questions.
Tips for Buying Homes in Sri Lanka
Check out multiple adds before making a final decision.
Write down desired features and compare listings point by point.
Note the posting dates to see how long a listing has been online.
If the price is negotiable, have in mind a top price you are willing to pay.
Check online for new listings regularly until you are ready to visit a house.
Conclusion
Property in Sri Lanka is booming and the internet is the most convenient and time-effective way for anyone to begin his or her search for a house, apartment, or other properties. Both buyers and sellers, by using online housing marketplaces can see substantial benefits that might not otherwise be possible.
