Sri Lanka’s real estate boom and property market outlook

Feb 09, 2015 (LBO) – Sri Lanka’s online property hunters seek houses than apartments despite the luxury apartment segment having a short term demand, country head of a leading real estate portal said. Globally founded on 2013, the property portal currently available in 32 countries across Asia, Africa, the Middle East and Latin America with more than 550,000 property listings in Asia and Latin America alone.

The company recently raised 18 million US dollars by merging its businesses in Asia and Latin America.

The listing which offers sellers, buyers, landlords and renters a secure way to find or list properties online; opened its Sri Lankan branch mid last year.

˜www.lamudi.lk’, on site search data for the month of December 2014 is suggesting that three fourth of its property hunters are looking for houses.

75 percent of our searches have been for houses while apartments have been searched for by 14 percent. he said.

The data also shows that it has received 69 percent of total searches from Colombo district with Gampaha claiming the second position bagging 13 percent of searches.

Kandy district has attracted 10 percent of the total number of searches