Standing Tall

Increasing land prices and demand for houses are pushing developers to launch taller building projects and even larger suburban housing projects. Increasing land prices and demand for houses are pushing developers to launch taller building projects and even larger suburban housing projects. Sri Lankans living abroad and falling interest rates have helped drive property prices up.

But changing perceptions about credit and breaking down of the extended family concept is driving much of the boom.

Increasing land prices and greater demand for houses have turned the property market into a lucrative trade.

Sky rise apartment complexes and housing schemes that have mushroomed in the city have provided housing for some while establishing a risk free high profit market for others.

The view from a deluxe apartment in the sky is a view worth millions, literally.

And not far away one would notice another towering complex ..… and another.

Colombo’s sky risers are demanded by professionals, foreigners and expatriate Sri Lankans.

“Yes there is a boom,” says Adel Hashim, Deputy G.M, Kelsey Homes (JKH).

“Expatria