Real estate market improves

by Sarath Malalasekera

Real Estate Consultant Anoma Matarage highlighted Sri Lanka's real estate market which will be a guideline for local sellers, buyers and investors. With peace and a stable economy, the real estate market is flourishing today, she said. Many buyers who thought that the market would drop further were reluctant to buy properties while the sellers were waiting for improved prices.

However, home buyers are still buying houses and lands.

This was due to an artificial market created by several companies. There were no regulations to control market prices. Companies sold properties at unbelievable prices and the end result was that people were unable to buy them.

Another important fact about real estate is that one has to hire a real estate consultant, to get the best results. Most of the agents are ordinary brokers.