
A lot of people invest in Real Estate in Sri Lanka but most of them have no idea why they do the things they do. Only a very few investors do things with a PROPER understanding of the facts & causes. THAT’S WHY they win the game every time they play. We have seen it many times over the years we were in the industry.
So, the advice is, KNOWLEDGE.
Educate yourself and do the research. It’s the key to win the game of Real Estate investing anywhere in the world. When it comes to Sri Lanka’s Real Estate market, it’s a little bit more important as the Real Estate industry in Sri Lanka is not properly regulated. It is like the Real Estate market in Sri Lanka has a mind of its own and changes the narrative on its own. Even though there are government bodies that are supposed to regulate and control the market, they also don’t have much effect on it for a number of reasons.
Do your research on how the prices fluctuate in Sri Lanka. Especially in areas like Colombo which is a very dynamic city with so many economic hubs and centres. Keep your eyes on the emerging hot spots and proposed infrastructural developments as they impact the market prices. Find out how the prices evolved in the past years.
Know your property rights, about the laws and regulations, and about the documentations and what they mean and what they do. Those are very important things to keep in your mind. A lot of people have no idea what these documents mean or what they are about which inevitably leads them to make bad investment decisions that would hold them down for years to come. The laws and regulations change over time. Even though it is comparatively very slow ,especially when it comes to Real Estate in Sri Lanka and considering the fact that most of the current laws have been active for more than 50,60 years, it is still VERY IMPORTANT to stay in touch.
The next thing is financial aspects. Educate yourself about taxes, the costs that may include within the entire process because the buying price is not the only cost. That’s one of the points that is hidden in plain sight. A lot of people fall into that trap because they don’t consider the entire cost of investing in a property.
Last but not least, know when you need help, and when you know you do in fact need help, SEEK HELP. Also, seek good help. When you are looking for assistance to invest in a Real Estate property in Sri Lanka, check how many years your assisting professionals have been in the industry, their success stories and ask around about them.
At Pan Global Properties, we are much more than JUST a Real Estate agency. We are premium real estate solution providers and we have been in the industry for over a decade now. Our professionals are experienced and they are experts at what they do.We offer a comprehensive range of services, from property inspection to legal assessments to the final transaction and everything in between.
The preferred real-estate solutions provider in Sri Lanka.
Gamini Kuruppu