Sri Lanka’s property market that had been hindered by several challenges including regulatory policies, economic volatility and rising material costs, is expected to well in the coming years, according to the country’s largest real estate developer.
“We are seeing an improvement in the property market at present. Interest rates have stabilised to some extent. From the highs of mid 20 percent interest rates from a few years ago, the housing loan rates have come down to around 12 percent. With low fixed income rates, people are also shifting from fixed income instruments such as fixed deposits to real estate and other investments.