Leading Sri Lankan property portal LankaPropertyWeb has released a guide to buying and selling property in the island nation.
Designed to guide both domestic and foreign buyers through all aspects of the often convoluted process of dealing with property transactions in Sri Lanka, the guide is available on the portal's website in English and will soon be available in Sinhala and Tamil.
Commenting on the launch of the Property Buying Guide, Managing Director of LankaPropertyWeb Daham Gunaratna said:
“Since the inception of our company we’ve had many people inquiring about the current laws related to real estate and how to find solutions to issues they face when going through the property buying or selling process.
Our guide for foreigners buying property in Sri Lanka that was published in 2012 and updated continuously to educate foreigners on the laws and processes in the country, has been well received and referenced by many foreigners looking to invest in the country and the full Property Buying Guide has been an extension of that project. This is a comprehensive guide to buying and selling property and has been the result of a collaborative effort between our internal team and external experts who helped us validate the information.”
LankaPropetrtyWeb is one of a number of portal companies in the Frontier Digital Ventures portfolio (the Malaysian based portal operator owns a 53% stake) which is a leading specialist real estate vertical in its market and which has seen good growth over recent years.
Much like the companies portals in West Africa (MeQasa in Ghana and PropertyPro in Nigeria) and Zameen in Pakistan (which FDV owns 30% of), LankaPropertyWeb has seen increasingly positive margins as the market it operates in matures.