73Avenue Realtors reposted this
📊 Market Alert: Colombo's Apartment Sector Shows Strong Growth in 2024 Key highlights from latest RIUNIT report: - Overall Colombo: - 15.66% YoY growth, 11.91% YTD - Colombo 13 (Tier 3): Exceptional 58% YoY growth (LKR ~20,000 to LKR ~32,500 per sq ft) - Suburban leaders: - Ethul Kotte (Tier 2): 29% YoY growth - Ratmalana (Tier 3): Highest suburban growth in affordable segment 💡 Key Takeaway: Whether you're looking to buy a home or invest, the market shows strong signs of growth across all segments. Affordable areas are showing highest returns, while premium locations maintain steady growth. P.S. Property Tiers Explained: 🏢 Tier 1: Luxury apartments (~ LKR 60,000+ per sq ft) 🏢 Tier 2: Mid-range apartments (~ LKR 40,000 - 60,000 per sq ft) 🏢 Tier 3: Affordable segment (Below ~ LKR 40,000 per sq ft) Full Article: https://lnkd.in/gDbkcSaX #RealEstate #Investment #SriLanka #MarketUpdate
Experienced Real Estate Agent at 73AVENUE. | CEO & Founder of luxurywatches.lk
1moWhat the Numbers Mean For You: 1. Overall Market Health (15.66% YoY, 11.91% YTD) • For Sri Lankan People: If you bought a property last year, its value has increased by about 16% • For Investors: The market is outperforming many other investment options, showing strong recovery 2. Colombo 13 Success Story (58% YoY growth) • For Sri Lankan People: Properties that cost LKR 20,659 per sq ft last year are now worth LKR 32,589 • For Investors: Affordable areas are showing highest returns - potential for significant capital gains 3. Suburban Growth Stars: Ethul Kotte (29% growth) • For Sri Lankan People: Properties here are becoming more valuable due to better infrastructure and facilities • For Investors: Mid-range properties in well-connected suburbs are proving to be smart investments Ratmalana • For Sri Lankan People: Affordable housing here is becoming more valuable, great for first-time buyers • For Investors: Growing demand in budget-friendly areas suggests good rental potential