Lands for Sale in Colombo (307 properties)

Lands for Sale in Colombo

This thriving city, which is also dubbed the commercial capital of Sri Lanka, is a place that has an extremely well-rounded premium property market. Whether it is a house or apartment in a residential area or a commercial property, there is a high demand for all. While this city has been somewhat lacking in new developments during the three-decade war, it never fell behind when it came to the real estate market. Though there was no rise, it certainly did not crash either. Now, after years of being suppressed, the real estate scene in the city is finally on an exponential increase with locations such as Kollupitiya and Bambalapitiya leading the list.

One of the most interesting asset types seen in this region is the perch land for sale (paddy field) that are now used for minor projects. This entails land for sale in Colombo that is bought for tasks such as to build your own dream home or to start a caf� or retail outlet. If you are a foreigner, you can always purchase the properties for sale in Colombo through a local partner, in order to evade the heavy taxes imposed by the government for all non-citizens. Make sure that you select the right plot for the right purpose and that you make a proper inspection before you purchase. Similar to when dealing with properties for rent in Colombo, ensure that you proceed through a lawyer to validate your purchase.

At present, this great metropolis is teeming with large-scale prime lands development projects that are currently underway, almost completed or open for sale or for rent. Lands in Colombo have been bought over by local companies such as the Prime Group as well as foreign multinational corporations who have recognized the city's premium potential. Most of the properties where significant developments are being carried out or have been completed are on a long-term lease. These property types may range from simple bare land to more advanced land plot with buildings, found especially at a walking distance to the Galle road. Examples for such practices can be found in Colombo lands near the Beira Lake. The majority of these are on a 99-year lease, which is mainly advantageous to foreign investors in terms of evading the heavy taxes.