Investing in Sri Lanka

[DaniD]

Hey guys I am new to this forum,

I was wondering if any one of you might be interested in collaborating/joining forces in Sri Lanka.

I myself moved to Sri Lanka 6 months ago from London, United Kingdom.

As you might be well aware, Sri Lanka is booming and the real estate market is hitting remarkable levels.

Lonely Planet even named this as the No1 Travel destination for the year 2019.

However all this attention has driven the property market at an unimaginable rate, making it impossible for me to invest as a sole investor,

So I thought id try my luck on this site in the hope of finding like minded individuals who might want to invest in sunny Sri Lanka,

Please hit me up if this is of interest

Cheers
Dani

 

[diyhelp]

What are the average prices and rental yields in Sri Lanka compared to the likes of the UK?

 

[DaniD]

Hey,

as in any country its location based, personally I see the real dividend is the scale and speed of which the market is increasing at, with many investors buying up beach front property the demand has caused many areas to increase by nearly 200% in just the last 3 to 4 years, this coupled with the tourism boom means, its now or never to get into this market, at least that's how I see it. Please see the attached report from KPMG regarding the market,(released in 2018) for a more comprehensive look at the market.

 

[DaniD]

the documents too large to upload/submit as a response. any work around this?

Also compared to the UK in terms of purchasing outright property , you can get prime absolute beachfront property for roughly between 10 to15[FONT=Arial,sans-serif] thousand pounds a perch ( this property located in the most up an coming areas )

a perch is roughly 25 square meters. [/FONT]

You can however get land at up an coming spots for far less.

​

 

[PostBrexitInvestor]

How do you think Brexit will impact Sri Lanka and its relationship with the UK going forward? At this rate I am going to be dead before my username "PostBrexit" is relevant lol

 

[DaniD]

What I am being told is that the Brexit will impact Sri Lankas market negatively. at-least at the start,

Europe including UK itself purchased 29% of Sri Lankas exports in 2015, so one could imagine that a bad deal for both parties affecting Sri Lankas economy negatively, However again with different regions now investing in Sri Lanka, one would hope the impact being minimal, in terms of property I would definitely assume so.

Some complications do arise in terms of concessions provided to Sri Lanka Trading with the Single market and mitigation mechanisms will have to be established to trade with UK once they leave, while one can expect a certain period of market readjustment I am optimistic that these can be addressed quickly and maybe allow for even better cooperation? I hope haha..

To be honest, No one seems to really know the true nature of a what a world of Post Brexit would look like, I for one think there will definitely be a slow down for a period of maybe 1 to 3 years. The UK is too big a market to ignore. I would think that once people get used to the idea of a UK outside the EU , deals will be struck, and it might even open up other developing regions and industries to the UK faster? but then again what do I know.

 

[realdeals]

I think the UK is looking to rollover trade deals previously done through the EU and I would assume that Sri Lanka will already be in talks with the UK. If you just look at France and Spain you will see that UK property investors have not been put off by the fall in the value of sterling since the referrendum.