Sunday, 25 October 2009

Sri Lanka ‘experiencing international property boom’

Sri Lanka ‘experiencing international property boom'

Sri Lanka is experiencing a major property boom now that its civil war is over, it has been reported.

In a feature on the island, the Daily Mail noted that investors have been more confident about buying on the island since last year saw the last Tamil Tiger stronghold fall in the north.

The paper noted the example of Charlie Wrey and his wife Tweenie, who have been managing a hotel in the southern city of Galle and now plan to purchase a tea plantation inland.

Mr Wray said: "There is a bullish atmosphere now the war is over, with property deals being done the whole time."

The paper noted that offshore property buyers often favour Galle as a major centre of tourism for westerners with its 17th century Dutch fort, which overlooks the city’s international cricket ground.

Investors looking to the Galle area may also be attracted by its rail link to the country’s financial capital Colombo, as well as its proximity to the popular resorts of Hikkaduwa and Unawatuna.

Written by Tom Britten. Source: Halifax

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