Property development is all about building or acquiring homes, apartments, commercial spaces, and stores to resell for a higher value. Read on to learn how property development in Sri Lanka works and its benefits.
Who Does Property Development?
Many property developers in Sri Lanka have acquired or built properties across the island. These companies will either build, renovate, or re-lease properties to sell or rent them for a higher market value. John Keells Properties is one such leading property developer on the island known for its key real estate development projects in Sri Lanka.
What Decides the Value of a Property?
Apartments, houses, commercial buildings, and office spaces will increase in value depending on the location, amenities, architecture, exterior, parking space, and the build quality of the property. Real estate can be a very profitable business.
Funding for Property Development
Leading property developers use investments and self-funding for property development. Loans and mortgages can come in handy for small and medium-scale property developers. If you’re looking to invest in a property development project, you can use your savings, fixed deposits, or loans.