Sri Lanka urban apartment prices continue upward trend – RIUNIT

Sri Lanka’s real estate expert Research Intelligence Unit (RIUNIT) says that Colombo city apartment (all 3 tiers) average prices in LKR terms increased marginally to Rs. 62,956 per Sq.ft in March from Rs. 62,635 per Sq.ft in February.

The prices in USD terms also saw an upward incline to $193 per Sq.ft from $173 per Sq.ft. with the effect of rupee appreciation. When comparing the Tier 1 apartment prices in the city of Colombo the highest price point is seen in the Colombo 1 area at USD 468 while the lowest is Colombo 03 at USD 265.

Among the 15 selected Colombo cities in the Tier 2 the highest price point is in Colombo 5 with USD 207 and Colombo 7 a close second at USD 203 while the lowest prices are recorded from Colombo 15 at USD 99. In the Tier 3 segment the highest price is recorded in the Colombo 03 area at USD 140 and the lowest prices are recorded form the Colombo 09 area at USD 60, RIUNIT says.