Sri Lanka Guide: Housing & Rentals
Finding accommodation can be a time-consuming task, especially in a foreign country. Our housing & rentals guide explains where to look for apartments and accommodation, how to deal with local estate agents and what to bear in mind before signing a rental contract.
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Introduction
The housing market in Sri Lanka
The real estate market in Sri Lanka has developed greatly in recent years, and is experiencing a rise in prices. As it is expensive to own a property in Sri Lanka as an expat (due to high taxation on foreigners), renting a property is a good option to take advantage of the simple Sri Lankan renting system.
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Where to live and what’s on offer
Rental prices and locations
Buyers are not limited geographically as to where they can purchase property. It is interesting to note that only 15% of Sri Lankan citizens reside in cities - the rest live in rural areas, though the most popular places are the main cities of the island such as Colombo, Galle and Kandy.
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Sri Lankan rental process
Contracts, the law and deposits
In Sri Lanka, there are two different ways to rent a property, according to legal differences in the terms of a contract. You can have a “Tenancy” agreement, or a “Lease” contract. If the rental property is also governed by the Rent Act, the rules, terms and power of the landlord or tenant will differ.
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Moving house in Sri Lanka
Utilities, waste collection and household insurance
Sri Lanka is trying to become sustainable, with regards to its energy supply. The Sri Lanka Sustainable Energy Authority created in 2007, aims to develop green technologies and adopt sustainable practices. Solar Power for heating has developed a lot recently, especially for heating water.
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