Real Estate in Sri Lanka
House on the Beach Coast.
For a person, living far from the ocean or the sea, the view of his own villa with an ocean view in a tropical country associates with paradise. Sitting in the evening on the terrace of your house and drinking tea. Or swimming in the pool with a glass of lime and enjoying sunsets. Many things yet you can make up having your house on the coast. Even if you do not have an opportunity to buy or to build a house right away, you can buy a piece of land. And afterwards to go into building construction. You can familiarize yourself with houses on sale offers here, and with the villas for rent here. We are drawing your attention that the site features far from all offers. By your request we can find a house, a villa or a piece of land meeting your requirements.
Most simple in Sri-Lanka is to buy real estate on the coast, in fast developing resort areas for further resale to interested people. Or land purchase is just a good money investment. Samples of some pieces of land for sale you can see here. As we have already written, the site features only a small part of offers.
The whole world knows famous tea in packs with elephant on them. That very tea from Sri-Lanka. Growing and exporting tea is one of national state income items of Sri-Lanka. Apart from tea, Sri-Lanka is the biggest supplier of cinnamon in the world. And of natural resin and rice. A plantation of a couple hectares can provide a rather solid financial status for its owner. You need time to choose a plantation meeting your requirements. You need to get search criterion, and all the rest we shall make for you.
Importnat Things to know before buying a land in Sri Lanka
There are two kinds of land pieces in Sri-Lanka: Divided and Undivided. First ones can be bought by anyone, including a foreigner. Such a bargain is fully legal and a new owner is entitled to administer his land according at his will. Undivided bargains are recommended in those cases when you are interested in sale of real estate in Sri-Lanka.
Undivided land as a rule is a certain ground, which does not have accurate registered data on its boundaries and location. Such a ground can be given as a gift from a local to a local person only. But fake land sellers are often met in Lanka, selling such lands to foreigners. They are normally cheaper, what may become a reason for „milking” foreigners by locals. The problem is that any time there may appear someone, who will claim that this land is his own (as it does not have precise boundaries) and you will get headache problems.
Second problem is purchase of undivided land is impossibility to use it for permanent building. This is to say that you own some land but you cannot build anything there. Maximum what is possible is a summer camp with tents and barbeque. We are thoroughly checking all the documents before the bargain, thus protecting you from possible future problems. The standard land tax for a foreigner is 100%.
There are 3 ways to decrease this tax, even to 0%.
Options of tax costs optimization are found individually in each case.
Besides of that, one more important issue is verification of documents for the chosen piece of land. In due time, in Sri-Lanka, the state gave lands to its inhabitants for free, but it is just impossible to sell such land, you can only give it as a gift to another citizen of Sri-Lanka. Purchase of such a land most likely will turn into wasting money for you.
Making verification of each piece of land, we are checking its owners through three generations, what lets be absolutely sure the piece of land is fair.
Important things to know, before build a house in Sri Lanka
So the land is bought, you need to build. It is not so easy. There is a range of regulations about what and how it is allowed to build. For example, it is forbidden to build permanent buildings at a distance closer than 30 meters from the beach. It is must to check that there is water and electricity supply, to avoid camping on the doorstep of local authorities. In Sri-Lanka it is quite a legal thing to take a many times higher charge from foreigners for many state services. Thus it is better to take care of this beforehand. And the last thing, of course it is a building plan. The building plan should be approved by an accredited state architect. Otherwise your building will be at risk of demolition. That’s it? Absolutely not. Now you need to find a building team, which will help you to make your dream real. And in these issues it is also better to rely upon professionals.
We are glad to share information with you on how to do everything properly when you buy real estate in Sri-Lanka. We wish sincerely that you do succeed.