Sri Lanka is an island with a wide range of properties including a luxury house for rent in Sri Lanka, single story houses, rooms for rent and annex for rent in some of the highly residential areas. As the 30-year-old conflict came to an end in 2009, the country reached economic growth rapidly. International buyers, as well as Lankan expats, started showing interest in coming to Sri Lanka to either settle down, purchase newly renovated bedroom house, storey houses or modern houses or start new businesses.
The country draws on different types of buyers and investors as well. Those especially interested in purchasing property and letting them out as properties for rent in Sri Lankaare widely available. They mainly search for properties located walking distance away from their projects and developments. This has helped the country develop its infrastructure, real estate and tourism sector, making life convenient and setting new living standards.
Sri Lanka has an interesting property portfolio with properties like multi-family homes with 3 bedrooms and car parking to small fully furnished modern homes with fancy bathrooms and 2 bedrooms and a kitchen. 1st-floor annexes with spacious bedrooms and affordable house rent, villas, commercial property located in Galle road, mixed developments, and apartments are available too, for long term as well as short term stays.
Though ‘house for sale’ is the top searched property type, there is an increasing need for houses for rent and house for lease especially in developing cities. This is because more people are relocating to start new businesses or make living convenient. Obtaining even a small house for rent in Sri Lanka in prime regions like Galle road Colombo can be challenging because of their increasing property prices.
Due to this reason, mid income earners are always looking for small houses for rent in Colombo for low prices such as Rs. 20,000 per month or so. Usually, rental prices for houses vary from single floor room houses to storied houses to 3 bedroom house to 3 or 4 bedroom house for rent and the conveniences they offer. Because of this, a property within this rental range can only be found in the suburbs somewhat further away from the metropolitan city. This rental pattern can be seen in houses for rent in Gampaha that have equally high value with the transport conveniences and consistent development taking place.
A mid-range house for rent in Sri Lanka often comes with a kitchen, dining room, living room, attached bathrooms and a car park sufficient for at least two vehicles. But there are also fully furnished houses with fully air conditioned bedrooms, roof top terrace and hot water facilities and can be obtained at a comparatively higher rental price.
All in all, houses for rent in Sri Lanka are a great option for those who are planning on staying for a short period. It is also much cheaper than getting houses for sale in Sri Lanka or apartments for rent in Sri Lanka. This has made houses for rent attractive and has a bigger potential as a secondary income source. As a result, investors are showing interest in land for sale in Sri Lanka with the intention of building multi-story properties where they can give out the ground floor for rent in the future.