Investment in real estate safest and steadiest
|
Mevan Seresinhe
|
Sri Lanka is a small densely populated island boasting a population
of around 20 million. With the limited land, Real Estate is becoming a
rare commodity at an ever increasing pace said Director Marketing - Real
Estate, Ceylinco Housing Limited Mevan Seresinhe.
The increase in demand is driven by the improvement in living
standards and changing lifestyles where rapid urbanisation is taking
place. In today's context a decent house is a necessity of life of most
Sri Lankans. Through centuries of experience Sri Lankans are well aware
that no other investment has long lasting value similar to tangible and
real property like land and housing stocks.
The last year or so we witnessed a stagnation of land and property
prices in some areas. The factors that led to a slowdown in prices are
now gradually heading for a correction. However, prices are still at the
lowest end.
Investment in land increases one's borrowing capacity.
The appreciation of land prices has been the rule over the last
century or so and it will continue to be so in the future. Besides one
has the advantage of use of the land to earn an income, whilst waiting
for appreciation.
Therefore, investment in real estate and housing can be considered as
the safest and best investment instrument in Sri Lanka in today's
financial environment, he said. |
