The Sri Lanka Real Estate Market Report 2022 provides an insightful and accurate account of how the property sector of the country performed during this unsettled and at times chaotic year. The report starts with coverage of the macro economy followed by data filled sections on the residential, commercial, retail and land markets of the island. Now into its 20th year of operations in Sri Lanka, the report sights many areas of positivity and opportunity despite the macro economic challenges. The findings are an eye-opener for all industry professionals, investors, developers, academics and any individual or commercial entity into the property.
Economy
The report covers the macroeconomic view of Sri Lanka including a number of macroeconomic variables such as GDP growth, GDP per capita, inflation rate, exchange rates, interest rates, imports & exports, and the Human Development Index (HDI).
Luxury & Semi Luxury Residential Market
Sri Lanka is set to close out the year 2022 with approximately 26,718 Tier 1, 2 and 3 apartment units in total in the market. Among them, 17,390 units have been completed and despite the challenges posed by the macro environment, another 9,328 units are expected to be completed before 2024.
The report covers the cumulative supply of existing and upcoming supply of apartments, apartment rental prices and rental yields, the gated housing developments, followed by future developments in the industry.
Retail Market
The Sri Lankan real estate market report 2022 by RIUNIT interprets the retail market capturing the existing and the upcoming supply of the retail space in Colombo and the suburbs, the occupancy levels and the lease rates of each of the retail spaces, followed by the future outlook.
Commercial Real Estate Market
The commercial property market is another key category in the real estate sector of Sri Lanka. This market segment consists of a variety of properties including single-tenant sites, small professional office buildings, mixed use developments and grade A skyscrapers.
The report covers the existing and the upcoming supply of grade A and B office spaces, the lease rates, and the absorption percentages.
Land Market
Plotted land projects are the most popular real estate option for the majority of people in Sri Lanka, especially at the mid-income levels. The report covers the prices of the bare lands in Colombo using our own price index besides the outlook presented regarding the growth of the plotted and bare land market of Sri Lanka.
Table of Contents
01 Introduction
