Tips To Find The Best Apartments for Sale in Colombo

Understanding The Market For Apartments For Sale And How To Decide On The Type Of Property You Would Want To Own In Colombo

Popularity Of Apartments For Sale
With the growth of the economy in Sri Lanka, there has been an increased focus on the real estate market within the island as well. Due to the higher concentration of development occurring closer to the capital city Colombo, it has also increased the demand for property either for purchase or rent in the vicinity. But such rapid developments and increased demand has also led to a scarcity of free land available. Since the need to buy home properties has to be provided with a solution, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This sort of developments is supported by statistics that indicate that the entire Western province covers only 6% of the country’s land areas but close to 28% of the population seek to make their homes in the area.

Since this trend has been on the rise during the past few years, now you can find many apartments for sale and also apartments for short term rent that can be chosen according to your requirements. There are also several good houses for sale available in nearby areas but due to 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.

Types Of Apartments For Sale

Popularity of luxury apartment projects
In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. But now, with the limitations highlighted above, these developers have looked to offer those who want to buy home units the option of choosing from luxury apartments. It has been found that the demand to buy apartment that fall into the luxury category comes from the Sri Lankan community as well as foreigners. Such investments made in relation to own properties in Colombo area have also shown high increase in popularity. As per the statistics gathered up until 2015, there have been close to over 2600 luxury apartment units and it is further estimated that this number could reach close to 6000 units by 2019. Such luxury units are also found to be available for those who wish to rent an apartment, giving rise to more and more apartments for short term rent being offered.

Potential for micro apartments in Sri Lanka
Another alternative to houses for sale is the availability of real estate in the form of micro apartments. Many apartment builders have also invested in such projects that have been in high demand among those who want to buy apartment space in Colombo. The target market for this type of property has actually found appeal among the affluent customers who might even want a luxury apartment as well as middle-income individuals who want to invest in such a home for them. Similar to the above category, this type of housing solutions are also available as apartments for short term rent for those who are unable to buy home units by making an outright purchase and therefore look to rent an apartment instead. This opens up the possibility for more home seekers to get closer to their dream of owning a home in a prime city location.

Choosing Between Apartments And Houses For Sale
When you consider purchasing such properties you should be prepared for making the investment. The main decision you would need to make would be in relation to whether you actually want to buy apartment space or you still would like to look out to buy home in the form of a separate house. As a primary consideration when you invest in real estate you would need to decide on the space or size of home. Normally houses in Sri Lanka tend to cover about 2700 sq ft while an apartment would generally fall in the range of 1000 to 1500 sq ft. In addition apartments tend to offer additional services such as security, cleaning, waste disposal and other recreational facilities that are normally not available with separate housing units. But on the other hand, you might want to consider the following that are normally not available with apartments.

  • When you buy apartments you will get a limited parking slot allocation
  • Modifications are not possible
  • Most apartment complexes have restrictions on owning pets
  • Your possibility of engaging in gardening activities is very minimal

Considering When To Rent An Apartment
Due to the various requirements of homeowners there are several other options made available in terms of being able to rent an apartment. Many individuals who would be looking at living in small living spaces for short periods of time can consider finding apartments for short term rent. Since there is a high portion of the population that need to find accommodation to travel to work and for other arrangements in the city limits, this has become more of a financially viable option many prefer. Depending on the requirement you could even arrange to extend the rental period once agreed with the renter. This is also a great way to check whether you can adjust to an apartment style living. If the lifestyle appeals to you, with time, you could also consider owning an apartment of your own.

To cater to much of the demand to wanting to buy apartment properties, there have been several investors and developers who have taken interest in developing projects which are in demand for this market. Among these companies there are several reputed apartment builders operating in the island that have produced several leading apartment projects and have several others lined up as future projects.

The Very Best Ways to Find Paris Apartments For Sale (It’s Easier Than You Think!)

The draw of Paris has always been romance for most people. It’s considered one of the most romantic cities in the entire world and for good reason. People come to this fantastic city and fall in love – either with someone else or just the city itself. For those people that love all that Paris stands for, many are ready to find Paris apartments for sale just so they never have to leave!

Is It Hard to Find Paris Apartments for Sale?

That can be a difficult question to answer. It will depend on the part of city where you wish to make your purchase. Some areas, such as the 4th, 5th, and 6th arrondissements, or neighborhoods, are highly sought after. These properties are much harder to find and you can expect to pay a premium price. The 17th arrondissement is becoming quite popular as well. There are several neighborhoods that real estate agents often speak of as “colorful and emerging.” For those that think this sounds grand, it’s not. These are areas that are much less expensive, but you could be sacrificing in room, condition, and your personal safety.

What to Do When You Meet with a Real Estate Agent

You simply cannot show up casually dressed. You must appear professionally dressed and quite “pulled together.” This will at least generate a bit of interest from the real estate agent. You should also know exactly what you are looking for in terms of the perfect Paris apartments for sale. A real estate agent will be quick to move on if they feel you are simply “browsing.” It also pays to know a bit about the average sale prices in the area you are looking for. This will also show the agent that you are very serious about finding a great place to call home.

In Closing

You can find a fantastic Paris apartment for sale, but the above tips will make it much easier. Keep in touch with the real estate agent at least once a week, either by phone, email, or in person. This will help ensure that they continue to search for the right property for you. Above all, don’t expect instant results. It will take a little bit of time to find an available property and you may not be able to get the first bid in. Best of luck in your property search!