Glyn Ramsay. Home Design. November 22nd , 2017.
With the growth of the economy in Sri Lanka, there has been an increased focus on the real estate market within the island as well. Due to the higher concentration of development occurring closer to the capital city Colombo, it has also increased the demand for property either for purchase or rent in the vicinity. But such rapid developments and increased demand has also led to a scarcity of free land available. Since the need to buy home properties has to be provided with a solution, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This sort of developments is supported by statistics that indicate that the entire Western province covers only 6% of the countrys land areas but close to 28% of the population seek to make their homes in the area.
Another alternative to houses for sale is the availability of real estate in the form of micro apartments. Many apartment builders have also invested in such projects that have been in high demand among those who want to buy apartment space in Colombo. The target market for this type of property has actually found appeal among the affluent customers who might even want a luxury apartment as well as middle-income individuals who want to invest in such a home for them. Similar to the above category, this type of housing solutions are also available as apartments for short term rent for those who are unable to buy home units by making an outright purchase and therefore look to rent an apartment instead. This opens up the possibility for more home seekers to get closer to their dream of owning a home in a prime city location.
In your apartment search you are going to have to sacrifice something whether it be size, location or amenities. You are going to have to prepare yourself mentally and emotionally because the grim reality is the perfect apartment doesnt exist (unless you have an unlimited budget) The general rule of thumb in New York is the further uptown you go the bigger and cheaper the apartments will be. The further downtown you go the smaller and more expensive it will be.