Property in Colombo

Columbo

Colombo is the capital city of Sri Lanka. The vibrant and busy city is located in the Western side of the coast. It is characterized by both ruins, modern and ancient buildings. The city has a population of 647,100 people. The metropolitan region is defined within Gampaha, kalutura and Colombo districts. These regions have an estimated population of 5,648,000. The average size of the town is 3,694.2 km2. The town has been an important port town for above 2000 years. However, the city was promoted into the commercial capital of Sri Lanka. The city is a host to several restaurants, entertainment venues and corporate offices.

Economy

Colombo acts as home for several institutions: manufacturing, assembling and service industries. The town have 80% of the industries in the country and 60% of cars operating in the country are in the city. The housing is in high demand in the city as a result of the large population in need of housing in the city. Foreigners are allowed to purchase property in Colombo.

A house located in the central business district is sold at higher cost than those located in the metropolitan area. The rent is similarly high for residences in the capital center compared with those in the outside of the town.

Suitable settlements regions

Since the houses and general rent rates have greatly increased recently, many people opt to purchase homes in the metropolitan of Colombo where the rates are lower and attractive. There is a well established infrastructure network infrastructure serving the conurbation region of the city. Trains, buses, taxis and boats are some of the main methods of commuting used.

Hotels

For people who are just travelling in the city, there is a plethora of hotels to choose from. These hotels are tailored to suit people operating on all budgets. This implies that you can choose between high class hotels such as: Kamvelta Holiday resort, Paraisare Homestay, Hotel Janaki and Sapphire among others. The mid range hotels categories include Berjaya Mount Royal beach hotel, Galle Face Hotel and Hotel Renuka and Renuka city hotel.

Security

The city has been receiving bombing threats for some time. Apart from the terrorists attack, there are also petty crimes experienced in the town. When you are purchasing housing or renting apartment, ensure to consider the level of crime in the region. There are some regions that are more vulnerable to insecurity than others.

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