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 necessity to buy home properties must be given a remedy, many leading apartment builders have begun several projects to offer potential homeowners with viable solutions to select from. This kind of developments is supported by statistics that indicate that the whole Western province covers only 6% of the country’s land areas but near 28% of the people seek to produce their homes in the area.

Since this trend has been on the rise during the past few years, now you’ll find many apartments on the market and also apartments for short term rent that may be chosen according to your requirements. Additionally there are several good houses on the market for sale in nearby areas but due to the high prices, they are not ideal for many interested homebuyers. With regards to apartments you can find broadly two categories, namely, luxury apartment projects a The Continuum Price nd micro apartments available for consideration.

In previous times, property 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 wish to buy home units the choice of choosing from luxury apartments. It’s been found that the demand to purchase apartment that belong to the luxury category comes from the Sri Lankan community in addition to foreigners. Such investments made in terms of own properties in Colombo area have also shown high upsurge in popularity. According to the statistics gathered up until 2015, there have been near over 2600 luxury apartment units and it is further estimated that number could reach near 6000 units by 2019. Such luxury units are also found to be available for people who desire to rent an apartment, giving rise to more and more apartments for short term rent being offered.

Another option to houses on the market is the availability of property in the form of micro apartments. Many apartment builders have also invested in such projects which have been in high demand those types of who wish to buy apartment space in Colombo. The target market for this sort of property has actually found appeal on the list of affluent customers who might even want a luxury apartment in addition to middle-income individuals who wish to invest in this home for them. Similar to the above category, this sort of housing solutions are also available as apartments for short term rent for people who cannot buy home units by making an outright purchase and therefore check out rent an apartment instead. This opens up the possibility for more home seekers to have closer with their dream of owning a home in an excellent city location.

When you consider purchasing such properties you need to be prepared to make the investment. The key decision you would have to make would be in terms of whether you actually want to purchase apartment space or you still would like to look out to purchase home in the form of another house. As a primary consideration whenever you spend money on property you would have to determine the room or size of home. Normally houses in Sri Lanka often cover about 2700 sq ft while an apartment would generally fall in the product range of 1000 to 1500 sq ft. Additionally apartments tend to offer additional services such as for instance security, cleaning, waste disposal and other recreational facilities which can be normally not available with separate housing units. But on another hand, you should consider the next which can be normally not available with apartments.

Because of the various requirements of homeowners there are several other choices made available with regards to to be able to rent an apartment. Many individuals who would be taking a look at living in small living spaces for short intervals can consider finding apartments for short term rent. Since there is a high part of the people that require to get accommodation to go work and for other arrangements in the town limits, it has be of a financially viable option many prefer. With respect to the requirement you could even arrange to give the rental period once agreed with the renter. That is also an effective way to check whether you can conform to an apartment style living. If the lifestyle appeals for you, with time, you might like to consider owning an apartment of one’s own.