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News letter from Reality Lanka-April 2026
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Real estate & web advertising in Sri Lanka We bring properties in Sri Lanka to where ever you are!
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If you are looking for a property in Sri Lanka for Lease or to buy we have a wide range of Properties to select from in many areas to suit your budget & requirements, you could visit our website www.realitylanka.com for photos & details of over 1000 properties such as houses, bare lands, factories, estates, hotels & guest houses. etc.etc. Please note that this is a promotional email of our services, in case you do not find the following information useful please forward it to anyone who will find this useful and if you do not wish to receive our newsletters in the future please click on the unsubscribe link at the bottom of this page. Thank you! |
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| On Ikman.lk | |||
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Featured property
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(All below mentioned prices are negotiable) |
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FOR SALE |
FOR LEASE |
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BADURALIYA Estate with a bungalow (3559) No of Acres: 8.75 No of bed rooms: 05 Total floor area: 3000 sq.ft A spacious bungalow with a vast cultivated estate with various vegetables, fruits & other crops situated in a highly elevated scenic location with ample natural spring water at Hendigalle. Price: Rs.120,000,000/- (negotiable) |
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MORATUWA Land with a house (3954) No of pchs: 24.5 No of bed rooms: 04 A prime land at Rahula mw-Katubedda with a livable house (close to the former Big City & the Galle rd bordering Ratmalana) Rs.2,500,000/-per pch |
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DEHIWELA Land with a house (3660) No of pchs: 17 A prime land with a single floor livable house at Saranankara Terrace (off Sarananakara road bordering Colombo-06). Price:Rs.8,500,000/-per pch |
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COLOLMBO-04 Apartment (upper floor)(2920) No of bed rooms: 02 Total floor area: 1200 sq.ft A spacious upper floor apt facing Duplication rd opp former House of fashion building Rent:Rs.70,000/-pm |
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MALABE Land with a building (3950) No of pchs: 12.3 Prime land with a two storied building at Robert Gunwardena mw (close to Rahula Balika Vidyalaya by the Malabe town) Price: Rs.4,000,000/-per pch |
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GALLE LEASE Apartment (3867) No of rooms: 03 Floor area: 750 sq.ft A newly built luxury apartment with a magnificent sea view on the 6th floor of Richmond hill residencies-Wekunagoda Rent: Rs.85,000/- pm (fully furnished) |
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DEHIWELA House (3951) No of pchs: 07 No of bed rooms: 04 No of floors: 02 Floor area: 2000 sq.ft A luxury & spacious house at Sri Maha vihara road (bordering Colombo-06 with easy access from Pamankade & kalubowila) Rent: Rs.78,000,000/- |
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WATTALA SALE Land with house (3859) No of pchs: 20 A prime land with a five bed roomed livable house at 2nd Cross rd-Hekitta road (about 50 meters from the Colombo-Negombo main rd) Price: Rs.6,000,000/-pp |
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WATTALA Colonial type bungalow (3952) No of pchs: 89 No of bed rooms: 04 No of floors: 03 A spacious three storied colonial type bungalow in the vicinity of the Colombo port & the beach at Preethipura rd off Beach road-Hendala Price:Rs.125,000,000/- |
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RAGAMA LEASE Bungalow (3912) No of pchs: 160 No of bed rooms: 03 Total floor area: 2000 sq.ft A single storied newly refurbished bungalow with a large garden area facing Kurukulawa-Dalupitiya road Rent: Rs.350,000/- (fully furnished) |
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DEHIWELA Land with a house (3953) No of pchs: 18.31 A prime land with a single floor livable four bed roomed house at Greenland avenue (off Anderson road)-Nedimala Price:Rs.4,300,000/-per pch |
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KOTTE LEASE Bungalow (3913) No of pchs: 15 No of bed rooms:03 No of floors: 02 Floor area: 4500 sq.ft A newly built luxury bungalow at Dharma Rathana rd-Madiwela (close to the walking track) Rent: Rs.765,000/-pm (fully furnished) |
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MORATUWA SALE Buildings (3932) (3.12.2025) No of pchs: 220 No of buildings 02 No of floors: 01 Total floor area: 18,000 sq.ft Two commercial single floor buildings bordering the Bolgoda lake at Thelawala rd-Katubedda Price: Rs.400,000,000/- |
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MT.LAVINIA SALE Newly refurbished colonial type bungalow with a another two storied building behind (3937A) (31.12.2025) No of pchs: 26 No of rooms: (bungalow) 04 Building (GF) 02 (UF) 03 Floor areas: bungalow-1800 sq.ft Prices: 125,000,000/- (With all furniture) |
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ETHUL KOTTE SALE Beach land (3942) No of pchs: 45 A prime beach land 50 meters from Mirissa beach within the Mirissa Tourist zone 2nd block from the CMB-Matara main rd. Price: Rs.1,800,000/- per pch |
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PILIYANDALA SALE House (3884B) No of pchs: 08 No of bed rooms: 03 Floor area: 1800 sq.ft A newly built single storied house at Gangarama road Price: Rs.23,000,000/- |
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MORATUWA SALE House & apts (3943) No of pchs: 15 No of rooms (House): 04 Apts: 02 each Total floor area: 4560 sq.ft A house & two apts in the same land (could be used as sep units) at First lane-Koralawella rd Rs.70,000,000/- |
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KELANIYA SALE House (3947) (26.01.2025) No of pchs:10.5 No of bed rooms: 05 No of floors: 02 Floor area: 3000 sq.ft A luxury & spacious house with landscaped garden at Samarasinghe road (off Vihara mw 500 meters from the Temple) Price: Rs.45,000,000/- |
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ETHUL KOTTE SALE House (3944) No of pchs: 20 No of bed rooms: Main house-04,Apt-01 No of floors: 03 Total floor area: 5,400 sq.ft An architect designed two unit house overlooking the Diyawanna Oya lake at Rampart rd Price: Rs.112,000,000/- |
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KADAWATHA SALE Bare land (3933) (11.12.2025) Extent: 40 pchs Prime land with a partly built five bed roomed two storied house at ARalia Uyana-Pahala Biyanwila (800 meters from Kandy rd) Price: Rs.3,000,000/- per pch |
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MT.LAVINIA SALE Land with a house (3946) (25.01.2025) No of pchs: 10.9 A prime land with an old house close to the beach at St.Rita's road (adj Dinemore restaurant at Galle rd) Price Rs.3,300,000/-per pch |
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MORATUWA SALE Bare land (3934) (15.12.2025) No of pchs: 40 A prime land bordering the Bolgoda lake at Thelawala rd-Katubedda (End of Rahula mw) Price: Rs.2,800,000/-per pch
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ETHUL KOTTE SALE Land with a house (3941) (15.01.2025) No of pchs : 10.9 A prime land with an old house at Maligawa road (with walking distance to Main Kotte road) Price: Rs.5,500,000/-per pch (Sold for the land value only) |
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COLOMBO-08 SALE Bare land (3936) (23.12.2025) No of pchs: 13.5 A prime land at Fairfield Gardens (with walking distance to the Borella junction) Price: Rs.10,000,000/- (per pch) |
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My first flt in a Piper Chrooki Aircraft
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Scheduled & charter flts to key destinations in Sri lanka
Charter flts to key destinations in Sri lanka
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Helicopter for charter to fly to anywhere in Sri Lanka
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| Automobiles | |||
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(25.03.2026) MERC BENZ E250 (C225) 2016, 40,000 Km 2000 cc Pet 2nd owner Price:26,200,000/- (Kotte) |
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(12.03.2026) BENZ E220 (C220) 2014,80,000 Km 2200 cc Diesel 2nd owner Metallic Grey Price:22,000,000/- (Colombo-08) |
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(25.03.2026) MITSUBISHI OUTLANDER (C223) 2015,123,000Km 2400cc Petrol 2nd owner Price:13,300,000/- (Ratmalana) |
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(25.03.2026) MERC BENZ E250 (C224) 2011,88,000 KM 1976 cc Petrol 1st owner Price:16,200,000/- (Kirulapone) |
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(25.03.2026) TOYOTA CROWN (C221) 2010 48,000 Km 1500 cc Petrol 3rd owner Price:13,900,000/- (Colombo-03) |
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(25.03.2026) MERC BENZ C300 (C222) 2015,213,000 Km 2100 cc Disel 1st owner Price:19,850,000/- (Nugegoda) |
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(02.03.2026) NISSAN XTRAIL SUV(C211) 2016,95,000 Km 2000 cc Petrol Hybrid 1st owner Price:11,200,000/- (Nawala) |
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(02.03.2026) MITSUBISHI BOLA ROSA BUS(C212) 2006 Registered 2011,270,000 Km Diesel ,2nd owner Price:12,200,000/- (Colombo-05) |
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(02.03.2026) NISSAN XTRAIL SUV (C213) 2014, 98,000 Km 2000 cc Petrol 2nd owner Price:11,200,000/- (Nawala) |
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(02.03.2026) BENZC300 CAR (C214) 2015,224,000 Km 2100 cc Petrol Black color Price:21,500,000/- (Colombo 03) |
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(02.03.2026) BENZ C180 CAR (C215) 2016, 117,000 Km 1800cc Petrol Turbo 1st owner Price:17,200,000/- (Rajagiriya) |
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(12.03.2026) BENZ GLB200 (C216) 2020,18,000Km 1500cc Turbo Petrol 1st owner Price:27,600,000/- (Colombo-07) |
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(12.03.2026) TOYOTA RUSH (C217) Seven seater,2018, 15,000 Km 1496 cc Petrol 1st owner Price:15,700,000/- (Rajagiriya) |
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(12.03.2026) BENZ E200 (C218) 2016, 105,000 Km 2000 cc Petrol,1st owner White color Price:29,900,000/- (Colombo-02) |
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(12.03.2026) MITSUBISHIOUTLANDER (C219) 2014,67,000 Km 1500 cc Pet 3rd owner Black color Price:13,600,000/- (Colombo-02) |
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If interested in any of the below given properties please contact us
Reality Lanka Tel/fax: 2716920 Hotline: 0714920402 Viber: 0779004642 Email: info@realitylanka.com |
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REAL ESTATE NEWS Colombo’s property market: Making investors rich, homeownership elusiveFor much of the past two years, Sri Lanka’s property market has been spoken about in extremes. On one end are headlines declaring Colombo the most unaffordable city in the world to buy a home. On the other are confident assertions that real estate has emerged as one of the economy’s clearest post-crisis recovery stories. Both are true, and the uncomfortable reality is that they are true at the same time. According to the latest Property Prices Index compiled by Numbeo, Colombo now ranks first globally for housing unaffordability. The city’s price-to-income ratio stands at 55.3, which means the average property costs more than 55 times the average annual income. In practical terms, that places Colombo ahead of cities long synonymous with extreme housing stress, including Hong Kong, Shanghai, Mumbai, and Singapore. Mortgage payments, Numbeo estimates, amount to nearly 774% of annual income, while the affordability index hovers close to zero, signalling that homeownership is functionally out of reach for the average resident. Yet behind these stark figures is a market that has, by most conventional measures, recovered decisively from crisis. Property prices are rising again. Construction sites that fell silent in 2022 are active. Investors who exited during the downturn are returning. Land values, especially in and around Colombo, are climbing at double-digit rates. From collapse to comeback To understand today’s property dynamics, it is necessary to revisit the shock of 2022. As Sri Lanka’s balance-of-payments crisis spiralled into a full-blown economic collapse, interest rates surged, liquidity dried up, and consumer confidence evaporated. Property transactions slowed sharply. Prices, particularly in urban markets, fell. “Compared to 2022, when we saw a price decrease of around 10%, from 2023 onwards there has been a continuous upward trend in the property market,” said Lanka Property Web Senior Manager – Research and Analytics Chamara Thewarapperuma. That reversal, he explained, had been closely tied to macroeconomic stabilisation under the International Monetary Fund (IMF)-supported reform programme. Inflation has eased, the currency has stabilised, and most critically for property, borrowing costs have declined sharply. “Currently, most housing loans are in the range of 9–10%, which makes borrowing more affordable. Based on this, the market has reactivated after the crisis,” Thewarapperuma said. At the same time, the investment calculus has shifted. Fixed deposit rates, which peaked near 25% during the crisis, have fallen to about 7–8%. For savers accustomed to double-digit returns on risk-free instruments, real estate has once again become attractive. “Because of this, people are withdrawing money from fixed deposits and investing it in the real estate market,” Thewarapperuma said. “From an investment perspective, real estate activity is happening mainly because of low interest rates. Investors are now looking at real estate as an alternative to fixed deposits.” What CBSL numbers reveal Official data from the Central Bank of Sri Lanka (CBSL) reinforce this narrative of recovery. The Land Valuation Indicator (LVI), compiled by the CBSL using valuation data from the Government Valuation Department, shows that land prices in the Colombo District increased by 11.4% year-on-year in the first half of 2025. Residential land values rose even faster, by 14.4%, while commercial and industrial land prices increased by 11.5% and 8.4%, respectively. The semi-annual momentum is equally striking. Compared to the second half of 2024, land values rose by 8.3% in just six months, signalling that price pressures remain active rather than tapering off. Importantly, this growth is not confined to luxury segments. Residential land, which underpins housing affordability for households, has been the strongest driver of overall land price inflation. These increases have direct implications for developers and investors. Rising land values support balance sheets, revive stalled projects, and improve the viability of new construction. But for households without assets, rising land prices function as a moving goalpost. The geography of growth One of the most notable features of Sri Lanka’s current property cycle is where price growth is occurring. While Colombo remains the focal point of attention, some of the strongest increases are happening outside the city’s municipal boundaries. “Most suburban locations are more affordable, and people are looking for quieter and calmer environments,” Thewarapperuma said. “Because of this shift, we are seeing stronger price increases in suburban areas compared to Colombo city limits.” In districts such as Gampaha, Lanka Property Web’s land price index points to annual price growth of around 15%. Kalutara has also recorded strong gains. For investors, these areas offer a combination of lower entry prices and faster appreciation. “If someone purchases a land plot in these areas at an affordable price, they can gain additional value within one year. If they are able to hold that land for 10–15 years, they will see significant benefits,” Thewarapperuma said. Apartments, rentals, and the limits of yield Apartments occupy a more complex position in this situation. Colombo remains the preferred location for apartment investments, particularly among buyers seeking rental income rather than owner occupation. Multiple budget ranges now exist and investors with stable income sources are re-entering the market. Yet the numbers suggest that rental returns have not kept pace with capital values. Numbeo estimates gross rental yields of just under 3% in Colombo’s city centre and around 3.6% outside the centre. Lanka Property Web places average rental yields slightly higher, at around 4–5% annually, but even these returns remain modest relative to property prices. This gap between prices and rents has contributed to a surge in demand for renting rather than buying. “Because prices in Colombo and some suburbs have increased, we see people either moving slightly away from the city or choosing to rent instead of purchasing,” Thewarapperuma said. “The rental market has picked up over the past two to three years because renting is more affordable.” For households earning the average monthly net salary of around Rs. 70,000, as estimated by Numbeo, the arithmetic is unforgiving. Apartment prices exceeding Rs. 1.1 million per square metre in central Colombo place ownership firmly out of reach, even with lower interest rates. Is SL really ‘overpriced’? “There was an article distributed widely saying Sri Lanka has become overpriced, but that is largely centred on Colombo,” said Capital Trust Properties CEO Minoli Wickramasinghe. “If there is an inflow of foreigners, they will all end up renting in Colombo because we are not infrastructure-ready in the rest of the island.” In her view, the affordability crisis is as much a planning failure as a pricing one. Development approvals, she argued, had been concentrated in areas already under strain, without corresponding investment in infrastructure elsewhere. “You cannot give approvals for developments to just pop up without infrastructure being in place,” she said. “The result is that one area becomes overcrowded and expensive, and locals feel priced out, while the rest of the country does not see the same price growth.” Wickramasinghe also warned that suppressing price growth entirely would carry its own risks. “If yields are not improving and capital appreciation is absent, who is going to invest in Sri Lanka?” she asked. “Our prices need to appreciate over time. We are still about a decade behind many other countries.” ******************************* |
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