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Originally Posted by Creative Source
Hi Another property Guy and others.
I just got back from Sri Lanka. Yes Another Property Guy, you are right, the people are pleasant and weather is perfect there so one can't go wrong.
The political situation is not terrible but not stable either. There has been an abolition of a cease fire agreement between Tamil Tiger rebels and SL government and therefore one can expect a bit of disruption over the year. The South coast of SL is relatively spared and tourism is doing well. there has been a crop of new boutique hotels charging $100-$250 a night. In Colombo the prices are ridiculous as ther prices are being artificially and consistently raised by the SL expat buyers. I found a new development in the city but on the coast so overlooking the Indian ocean selling off plan property of 3 beds for $320 000 which on completion should be worth 15% more ( this summer).
I'm thinking hard about it. Have you got any interest in SL?
CS
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Thanks for the report on your findings Creative Source.
I don't have property in Sri Lanka yet but it's on my list of countries I am seriously considering. $320,000 is a lot more than I expected for a new 3 bed house. I'd be surprised if the cost to build such a property is more than $80,000 so that means the land is expensive. How close to Colombo was it, what size was the plot and to what standard will the homes be to your knowledge?