The real estate market in Sri Lanka too faced an issue due to the COVID-19 pandemic that spread chaos in economies around the globe. Although the market took a hit last year, with construction paused and details left to be fixed, this year, property developers in Sri Lanka have resumed their work on this.
The future seems to hold great things for developers like John Keells Properties as the market will be more towards the sellers’ side rather than the consumers. The supply of apartments and other living spaces will be in high demand while supply will be very low. Also, with the local International Airport opening, many potential buyers will be walking into the country once again. However, it is said that with a depreciating currency, keeping to the market price will be tough.