Can I buy real estate in Sri Lanka?

Foreigners can freely buy properties as long as they are willing to pay the Land Tax for foreigners at 100% of the property value. An alternative is to lease the land for 99 years, bringing the tax down to 7%. When buying property, it is important to hire a lawyer, who will prepare the contract.

How much is a small house in Sri Lanka?

11000000/= to Rs. 16100000/=, and the cost to build a small 2-bed home is about Rs. 6300000/= to Rs. 8600000/=.

Can a non resident buy property in Sri Lanka?

Foreigners cannot obtain a loan or a mortgage to purchase a property or invest in Sri Lanka. All the money has to come from outside Sri Lanka, and, in some instances, the Central Bank might require you to provide a source of the funding before clearing your funds from the bank.

How much does a house in Sri Lanka cost?

The average sale price of houses in Sri Lanka was LKR13. 8 million (US$124,026), according to Lanka Property Web, one of the country’s leading property portals. The average price of apartments was LKR12. 5 million (US$112,342).

Where is the best place to live in Sri Lanka?

A Guide To The Best Cities in Sri Lanka

  • 1 Colombo. Seema Malaka Temple in Colombo.
  • 2 Anuradhapura. Ancient Dagoba in Anuradhapura.
  • 3 Galle. Galle lighthouse and fort.
  • 4 Kandy. Temple of the Tooth in Kandy.
  • 5 Nuwara Eliya. Tea plantations in Nuwara Eliya.
  • 6 Trincomalee.
  • 7 Polonnaruwa.
  • 8 Jaffna.

How much do I need to retire in Sri Lanka?

US$ 15.000 in a fixed deposit account in an approved any bank in Sri Lanka together with a monthly remittance of US$ 1.500+. For spouse and dependent child add US$ 750+ monthly remittance into a Sri Lankan savings or current account.

Can a foreigner inherit property in Sri Lanka?

No law prohibits foreigners from inheriting property in Sri Lanka. However the Finance Act No. 11 of 1963 states that where of ownership of any land is transferred to a person who is not a citizen of Sri Lanka, a tax of an amount equivalent to the value of the land is charged.

What is the best place to live in Sri Lanka?

Is Sri Lanka a good place to retire?

Sri Lanka. Last on our list of top 5 countries in Asia to retire is Sri Lanka. No different to several other Asian countries when it comes to the beautiful and steady climate, Sri Lanka offers a steady and homogenous temperature year round. Healthcare system in Sri Lanka is also up to the mark.

Where do most expats live in Sri Lanka?

Most expats come to the capital city of Colombo while some others settle in other locations around the country. New expat families have to figure out the city and their surroundings quite quickly to be able to settle down comfortably and with the least amount of setbacks.