With the growth of the economy in Sri Lanka, there has been an increased concentrate on the actual estate market within the island as well. Because of the higher concentration of development occurring closer to the capital city Colombo, it has additionally increased the demand for property either to buy or rent in the vicinity. But such rapid developments and increased demand has additionally led to a scarcity of free land available. Since the requirement to buy home properties needs to be provided with a remedy, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This type of developments is supported by statistics that indicate that the entire Western province covers only 6% of the country’s land areas but near to 28% of the populace seek to create their homes in the area.
Because this trend has been on the rise during the past few years, now you can find many apartments available and also apartments for brief term rent that can be chosen in accor The Continuum Showflat dance with your requirements. There’s also several good houses available available in nearby areas but because of the high prices, they are not suitable for many interested homebuyers. In terms of apartments there are broadly two categories, namely, luxury apartment projects and micro apartments available for consideration.
In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. However now, with the limitations highlighted above, these developers have looked to provide those who wish to buy home units the choice of choosing from luxury apartments. It’s been discovered that the demand to purchase apartment that fall into the blissful luxury category arises from the Sri Lankan community along with foreigners. Such investments made in relation to own properties in Colombo area also have shown high increase in popularity. According to the statistics gathered up until 2015, there have been near to over 2600 luxury apartment units and it is further estimated this number could reach near to 6000 units by 2019. Such luxury units are also found to be around for people who desire to rent an apartment, giving rise to more and more apartments for brief term rent being offered.
Another option to houses available may be the accessibility to real estate in the shape of micro apartments. Many apartment builders also have invested in such projects which have been in high demand among those who wish to buy apartment space in Colombo. The target market for this kind of property has actually found appeal among the affluent customers who might even want a luxury apartment along with middle-income individuals who wish to invest in this home for them. Just like the above category, this kind of housing solutions are also available as apartments for brief term rent for people who are unable to buy home units by making an outright purchase and therefore turn to rent an apartment instead. This opens up the chance for more home seekers to obtain closer for their dream of running a home in a prime city location.
When you consider purchasing such properties you should be prepared for making the investment. The key decision you would need to make would be in relation to whether you really want to purchase apartment space or you still want to look out to purchase home in the shape of a separate house. As a key consideration when you spend money on real estate you would need to choose the area or size of home. Normally houses in Sri Lanka often cover about 2700 sq ft while an apartment would generally fall in the number of 1000 to 1500 sq ft. Additionally apartments tend to provide additional services such as for instance security, cleaning, waste disposal and other recreational facilities which can be normally unavailable with separate housing units. But on one other hand, you may want to consider the next which can be normally unavailable with apartments.
Because of the various requirements of homeowners there are many other available choices made available in terms of being able to rent an apartment. Many individuals who would be taking a look at surviving in small living spaces for brief intervals can consider finding apartments for brief term rent. While there is a higher percentage of the populace that want to get accommodation to happen to be work and for other arrangements in the town limits, it’s be more of a financially viable option many prefer. With respect to the requirement you can even arrange to increase the rental period once agreed with the renter. This really is also an effective way to test whether you can adapt to an apartment style living. If the lifestyle appeals to you, as time passes, you might also consider owning an apartment of your own.