Lamudi's annual real estate report on Sri Lanka released
Lamudi's annual real estate market report on Sri Lanka has been released, the company said this week, adding that the report known as a 'whitepaper' outlines demographic trends and changes in laws in 2016 which are encouraging new target markets, including overseas investors.
"The new visa options available for potential buyers are detailed in the whitepaper as well as plans to initiate real estate investment trusts. Sri Lanka is emerging from being under global investors' radar to being a destination for profitable business decisions. 2017 looks hopeful as many world class developments are underway. Next year's whitepaper promises to bring yet another balanced report on this flourishing haven for property seekers," Lamudi said in a media statement.
Every year Lamudi's researchers take an indepth look at the emerging markets where they operate. After consolidating the most important information about the economy and the local market, a whitepaper is created. This whitepaper aims to inform potential investors about the market, its potential, and its challenges. Outside the realm of investors, anyone interested in Sri Lanka's real estate industry can consult this useful report. Readers can gain all the information they need without needing to hunt through data hidden on sites across the web, the statement said.
"With state of the art modern high rise buildings adorning Colombo's skyline these days, it is fair to say that Sri Lanka's real estate landscape has changed dramatically since peace was declared. Infrastructural development on the island is underway and although the focus of large commercial developments is still in the capital, other cities, such as Kandy, are on the cusp of booming thanks to increased tourism numbers. Since Colombo's growth is happening faster than elsewhere, both residential and commercial land and property command higher prices in the city. Property prices are increasing in both sectors. However, property across the island remains affordable with young professionals being the main purchasers of residential city property. Apartment living was not a concept that was familiar to most Sri Lankans until recently. It seems that living habits are changing with vertical living becoming the norm as the country becomes increasingly developed," the release said.The report could be accessed at http://www.lamudi.lk/whitepaper-2017