Apartment prices in Colombo almost doubled

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Despite the economic downturn, apartment prices are skyrocketing.
Lanka Property Web’s housing price index notes a 45.17 price hike in apartment selling prices.
The price hike has been indexed in comparison to June 2021. Most buyers feel that it is profitable to buy an already built apartment as the price of building materials has skyrocketed.
The increase in interest rate for housing loans as well as the devaluation of the currency has made apartments an attractive investment.

Sri Lanka Overall Apartment Sale price, according to Lanka property web is LKR 61.61 million

The overall asking prices of houses in Sri Lanka had increased by 21.85 percent.
The statistics of skyrocketing prices of apartments are well explained by the hike in cement prices, a 50 kg bag of cement has increased by about 200 percent.

According to Lanka property web, the top five searches for apartments for sale were from Colombo 2, Colombo 3, Colombo 5, Colombo 6, and Rajagiriya.
Most of the apartments have been brought up by foreign buyers who are attempting to make the best of the higher dollar values against the rupee.

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