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Sri Lanka Equity Forum » Stock Market Talk » FEAR OF REAL ESTATE BUBBLE BURSTING TO BOOST CAPITAL MARKET

FEAR OF REAL ESTATE BUBBLE BURSTING TO BOOST CAPITAL MARKET

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samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
1 perch is 17 million and the Govt. is having 230 Acres bare lands in CMB , not releasing to builders !

This means artificially going up of land prices pushing the middle class away from Colombo.

If you search the details of apartments being built in Colombo you can see almost all are pre-sold even before starting the foundation work.
Who can buy like this ?






samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
True Chinwi, perhaps one cannot rule out black money involvement in this sector.

Another interesting thing is there are plenty of prime residential properties up for sale with "urgent sale" tag to take advantage of the unrealistic, unsustainable appreciation in land price as well as to avoid the impending introduction of capital gains tax.

hawklk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
For 17 Million you can build a moderately nice house with a swimming pool a large garden and if everything goes south atleast you have a land.

Mostly these apartments are purchased for renting to foreign parties. You are trapped in a A/C cocoon no garden, no fresh air, open the window and you  breathing vehicle fumes that rise to the upper floors..... but it is marketed "You have a ocean view, colombo skyline view"

Not the life I prefer.....My house is surrounded with trees, (trees mean O2), birds, flower beds and pin drop silent.......

On the other hand as you said if the bubble bursts it will have a effect on land and property shares

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