Published at Monday, February 11th, 2019 - 13:14:53 PM. Apartment. By Austin Lagi.
Tips To Find The Best Apartments for Sale in Colombo : Understanding The Market For Apartments For Sale And How To Decide On The Type Of Property You Would Want To Own In Colombo Popularity Of Apartments For Sale 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. Since this trend has been on the rise during the past few years, now you can find many apartments for sale and also apartments for short term rent that can be chosen according to your requirements. There are also several good houses for sale available in nearby areas but due to the high prices, they are not suitable for many interested homebuyers. In terms of apartments there are broadly two categories, namely, luxury apartment projects and micro apartments available for consideration. Types Of Apartments For Sale Popularity of luxury apartment projects In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. But now, with the limitations highlighted above, these developers have looked to offer those who want to buy home units the option of choosing from luxury apartments. It has been found that the demand to buy apartment that fall into the luxury category comes from the Sri Lankan community as well as foreigners. Such investments made in relation to own properties in Colombo area have also shown high increase in popularity. As per the statistics gathered up until 2015, there have been close to over 2600 luxury apartment units and it is further estimated that this number could reach close to 6000 units by 2019. Such luxury units are also found to be available for those who wish to rent an apartment, giving rise to more and more apartments for short term rent being offered. Potential for micro apartments in Sri Lanka 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. Choosing Between Apartments And Houses For Sale When you consider purchasing such properties you should be prepared for making the investment. The main decision you would need to make would be in relation to whether you actually want to buy apartment space or you still would like to look out to buy home in the form of a separate house. As a primary consideration when you invest in real estate you would need to decide on the space or size of home. Normally houses in Sri Lanka tend to cover about 2700 sq ft while an apartment would generally fall in the range of 1000 to 1500 sq ft. In addition apartments tend to offer additional services such as security, cleaning, waste disposal and other recreational facilities that are normally not available with separate housing units. But on the other hand, you might want to consider the following that are normally not available with apartments. When you buy apartments you will get a limited parking slot allocation Modifications are not possible Most apartment complexes have restrictions on owning pets Your possibility of engaging in gardening activities is very minimal Considering When To Rent An Apartment Due to the various requirements of homeowners there are several other options made available in terms of being able to rent an apartment. Many individuals who would be looking at living in small living spaces for short periods of time can consider finding apartments for short term rent. Since there is a high portion of the population that need to find accommodation to travel to work and for other arrangements in the city limits, this has become more of a financially viable option many prefer. Depending on the requirement you could even arrange to extend the rental period once agreed with the renter. This is also a great way to check whether you can adjust to an apartment style living. If the lifestyle appeals to you, with time, you could also consider owning an apartment of your own.
The New Concept Known As Bungalow Apartments Construction companies are always striving to satisfy their customers with new model buildings that will turn out to be a convenient place for living. While independent houses are still the most preferred residential unit by the customers even today, the bitter truth is that not many can afford an individual dwelling place. This has paved way for duplexes, condominiums, apartments, twin houses etc. Those who prefer to live in bungalows and used to that lifestyle would not want to settle for anything less. Well, construction companies are now coming up with bungalows in apartment complexes which are just what the prospective house owners look for. Before getting to know about the new concept Bungalow Apartments it is imperative to know what an apartment and a bungalow are. An apartment is a residential unit, which is a part of the building that contains several such units. And bungalow has different connotations but is predominantly known to be independent buildings that are large with several rooms and ample open space. So, exactly what is a Bungalow Apartment? A Bungalow Apartment bridges the gap between Bungalows and Apartments by providing independence, privacy and customization facility of a bungalow, coupled with security, amenities sharing facility and collective living convenience of an apartment complex. Typically, there would be a front foyer space with a grilled designer wicket gate for each Bungalow Apartment. This arrangement significantly stands apart from the regular main door provided in a normal apartment complex. The actual inner living space starts from beyond the wicket gates of each of these houses. Further, there shall be ample space between each apartment. Since the doorways of nearby apartments do not face each other you get a feeling of being in an independent house. In the foyer space, a polished granite seating arrangement can be made for each home. The space beneath this seating can be effectively utilized as a shoe rack. The functionality and elegance of this space becomes evident only when you realize that in most apartments the main doors open right into the lobby. To ensure more lighting in front foyer areas, Private Open Terrace areas are accommodated close to it. These are areas, which are open to a sky and a source of natural abundant lighting. What is more important is that, this open to sky area separates one apartment from the other and gives you a quality of privacy which is rare in multi dwelling units. House owners can consider this well-lit foyer, where natural lights pours in abundantly, to be a luxury and worth every penny they pay because such exclusive private spaces are hardly offered by builders these days as every little space is taken up for building rooms and halls. The private open terrace, which is usually available only at the first floor, is an additional luxury for the owners of the bungalow apartment. What makes these apartments very convenient is that it offers security for the inhabitants and also provides amenities such as games area, swimming pool, club, gym, party hall etc. Owners can even have the luxury of having power backups or a water treatment plant yet pay only a fractional cost. While thematic apartments have been in vogue for long now, the latest concept bungalow apartments are turning out to be the trend nowadays. What makes them popular is the fact that it gives the owners a separate foyer and they can enjoy the architectural flourishes. Therefore, in an apartment complex, it is possible to have adequate private space. These apartments are also offered fully furnished and in some cases the interior decorations are also taken care of. Just as in an apartment complex where there might be nearly hundreds of flats, there would be numerous bungalows apartments in a complex. Yes, but the bungalows would certainly have more living space as well as private space such as foyers, balconies, sit-outs etc. It is all about living luxuriously and considering the huge investment made in such apartments, the construction companies will have to ensure that they adhere to all the rules and regulations imposed by the government. This typically begins with the land procurement, building plan, adherence to environmental policies etc. These types of residential units are indeed a boon for all prospective house owners who can afford it. Yes, for stylish living and privacy, bungalows apartments are the best deal as it saves on cost while offering all the luxuries of a bungalow. The exquisitely designed bungalows will make you a proud owner of the property, no doubt.
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