In a groundbreaking move set to redefine real estate financing in Sri Lanka, HNB PLC, the country’s leading private sector bank, proudly announces the renewal of its partnership with Lanka Property Web (LPW), the premier property site. This collaboration is not just about business; it’s about empowering individuals and families to achieve their dreams of homeownership. The recent ceremony at HNB Towers marked the formalization of this partnership, reflecting the shared commitment of both entities to offer unparalleled convenience, transparency, and value to customers across the island. “At HN ..read more

In the dynamic realm of construction in Sri Lanka, the year 2024 unfolds with a notable transformation in cost considerations for building houses. Despite unprecedented challenges, the sector is experiencing a positive shift, marked by controlled inflation and eased import restrictions. The trajectory of construction costs, which began escalating in mid-2022, encountered a noteworthy change in 2023. During this period, certain raw material prices witnessed a slight increase, while others exhibited a decrease. Data sourced from the Construction Industry Development Authority highlights the nua ..read more

LankaPropertyWeb (LPW), Sri Lanka’s leading property platform, is excited to announce its new partnership with eMediaLinks, the exclusive partner with Weibo North America and house.sina.com. This collaboration enables the promotion of Sri Lankan property investment opportunities to Weibo’s extensive audience in China, as well as the real estate platform’s audiences in the USA and Canada. Weibo (weibo.com), China’s second-largest social media platform with an impressive 600 million monthly active users, will be a key focus for showcasing Sri Lankan properties to Chinese overseas buyers through ..read more

Did you know that in Sri Lanka, if you don’t own land to live on, you can still apply for one through a government scheme? This may be news to many, but it’s a program that has been in existence for quite some time. It’s called a land grant and can be obtained after completing the necessary documents. Of course, the process may take some time, but it’s still possible to own a plot through this program. To apply for a land grant, you need to submit a written request to the divisional secretary in your area. Once the application is registered, a plot will be allocated during land kachcheries, w ..read more

The Colombo Port City in Sri Lanka is creating a stir in the world of business and investment. With the recent approval of an innovative incentive program by the Sri Lankan Parliament, this aspiring development project is set to attract businesses of all sizes and sectors. Are you an investor looking for a strategic opportunity? If so, Colombo Port City should be at the top of your list. This blog breaks down the key points of the incentive program, helping readers understand the benefits and opportunities it offers. Just when you thought Sri Lanka couldn’t be more captivating for investors ..read more

In a strategic move that promises to redefine the landscape of real estate research in Sri Lanka, Lanka Property Web, and Trustus Consultants have embarked on a pioneering partnership. This collaboration brings together two key players in the real estate industry, each renowned for their exceptional expertise and unwavering commitment to excellence. By pooling their resources, knowledge, and insights, the duo aims to spearhead a new era of collaborative research that will illuminate and elevate the realm of Sri Lanka’s real estate. Lanka Property Web, a venerated name in the field, has proudl ..read more

Sri Lanka, known as the Pearl of the Indian Ocean, is an island packed with rich culture and deep history. From its vast plains and impressive mountain tops to its tea plantations and beautiful temples, the soil that encapsulates this fruitful land is filled with wealth and prospects.  Investing in Sri Lanka is guaranteed to be an investment of a lifetime, and not just because of the ample and lavish land available. Within the country itself, traveling is made easy due to the easy access to public transport, and the convenient routes between each city. Sri Lanka’s climate is also ideal f ..read more

According to the 2023 Land Price Index (LPI) developed by LankaPropertyWeb (LPW), Colombo city land prices have shown a 9% increase since the previous year, while the rest of Colombo district, along with Gampaha and Kalutara districts have shown marginal increase or decrease. Overall, Western province has shown a 2% increase in land prices from 2022, compared with a 10% increase seen last year. The average price of lands in the Colombo district (except Colombo 1-15) has shown a price increase of 1%. However, the Gampaha district has shown a 2% decline, while the Kalutara district has a 1% dec ..read more

Sri Lankan government plans to revamp the property tax system and introduce a wealth transfer tax by 2025. The aim of these measures is to make Sri Lanka’s tax system more progressive and gradually shift the focus of taxation from indirect to direct sources. These reforms are part of the government’s plan to enhance fiscal transparency and improve tax compliance in a country where the informal sector is relatively large. According to the International Monetary Fund (IMF) Country Report No. 23/116, the government’s objective is to reach a primary fiscal surplus of 2.3% of GDP by 2025. To achie ..read more

The construction industry of Sri Lanka; after going through many hurdles from 2020, starting with the COVID-19 pandemic, then the shortage of raw materials, to the sky-rocketing of construction raw material prices, are now faced with the imposition of VAT from October 1st 2022.  The Prime Minister’s Media Division, on May 31st 2022, announced tax reforms to combat the government revenue loss and to improve the government revenue generation process. In that, it was mentioned that the government will remove the VAT exemption on Condominium Residential Apartments with effect from October 1s ..read more