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Apartment for sale in Colombo
Colombo is the executive and judicial capital of Sri Lanka, and the largest city by population. It is located on the west coast of the island and has a rich history and culture. Colombo is also the financial and commercial hub of the country, with many businesses, industries, and institutions. Having an apartment in Colombo can offer many benefits, such as easy access to transportation, education, health care, entertainment, and shopping. Apartments for sale in Colombo can range from modern studios to luxurious penthouses, depending on your preference and budget.
Colombo is divided into 15 zones or districts that have different characteristics and features. Some of the most popular locations for buying apartments in Colombo are:
Apartment for sale in Colombo 1: This is the central business district of Colombo that has many high-rise buildings, offices, banks, hotels, etc. Apartment for sale in Colombo 2: This is a mixed-use area that has residential and commercial properties. It is also known as Union Place or Slave Island. Apartment for sale in Colombo 3: This is a prime residential area that has some of the most expensive and prestigious apartments in Colombo. It is also known as Kollupitiya or Colpetty. Apartment for sale Colombo 4: This is a residential and commercial area that has a mix of old and new buildings. It is also known as Bambalapitiya or Bamba. It has some famous landmarks. Apartment for sale Colombo 5: This is a residential and commercial area that has a variety of properties, such as houses, villas, etc. It is also known as Kirulapone or Kirula. Apartment for sale in Colombo 6: This is a residential and commercial area that has a diverse population and culture. It is also known as Wellawatte or Wellawatta. Apartment for sale in Colombo 7: This is an elite residential area that has some of the most luxurious and exclusive properties in Colombo. It is also known as Cinnamon Gardens or Cinna. Apartment for sale in Colombo 8: This is a residential and commercial area that has some modern developments. It is also known as Borella or Boralla.
The average price of apartments for sale in Colombo depends on various factors, such as the location, size, condition, facilities, and amenities of the property. The median price per square foot of floor area in Colombo was Rs. 40,000 in 2021. These prices can vary significantly depending on the specific area and property type. Before buying an apartment in Colombo, there are some factors that need to be considered carefully. These include:
The purpose of buying: Whether you are buying an apartment for living or for investment purposes can affect your choice of location, size, design, and budget. For example, if you are buying an apartment for living, you may want to consider the proximity to your workplace, school, or family. If you are buying an apartment for investment purposes, you may want to consider the potential rental income or capital appreciation of the property.
The financing options: Buying an apartment in Colombo can be quite expensive, so you may need to look for financing options to fund your purchase. You may need to apply for a home loan from a bank or a financial institution that offers competitive interest rates and flexible repayment terms. You may also need to have a good credit history and sufficient income to qualify for a loan.
If you are interested in finding an apartment for sale in Colombo, you can use online platforms such as LankaPropertyWeb, and House.lk to search for your ideal property. These websites offer a wide range of listings of apartments for sale in Colombo, with detailed information, photos, and contact details of the sellers. You can also filter your search by location, price, size, type, and features of the property. These websites also provide useful tools and resources, such as market reports, price indexes, buying guides, home loan calculators, and more, to help you make an informed decision.