Bare Land Market Analytical Update
for 29.12.2024
Colombo Market Snapshot
Colombo 03-07 Continue to be the highest demand zones
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- Most expensive lands are found in Colombo 03 where prices grace 25M per perch on average.
- Bare Lands in Sub-urban Colombo; Rajagiriya – 4M per perch Battaramulla – 3M Per Perch
Top 10 Hottest Regions
Now lets take a look at our regional sentiment index to check out the 10 most sorted out regions this week!
Nugegoda, Malabe, and Dehiwala continue to hold their positions in the top 10 list, while Mount Lavinia and Colombo 05 have experienced a notable resurgence, reflecting renewed buyer interest in these areas.
The Colombo suburbs of Battaramulla and Thalawathugoda have consistently remained among the most sought-after areas in the Colombo region.
Regional Analysis
Next we will be looking at price movements in a some of the high demand regions in Colombo.
Thalawathugoda
Many listings are available in the 8-perch to 15-perch land plot range.
A wide variety of land plots from different areas of Thalawathugoda have entered the market, offering buyers diverse options.
Significant variance in the highest and lowest prices, along with numerous listings, reflects a rich, diverse, and liquid market.
The median price is ~2M per perch, with most plots in Thalawathugoda priced around this range.
(Note: Prices tend to increase closer to the city center and decrease towards the outskirts. The listing priced at 10M per Perch is likely to be from listings situated in an very high demand zone in Thalawathugoda)
Land plots over 10 perches in size exhibit a linear pricing trend, with prices hovering around ~2M per perch.
Thalawathugoda is an investor-friendly market with high liquidity and potential for price appreciation.
Malabe
Similar to Thalawathugoda, numerous listings in Malabe fall within the 8-perch to 15-perch land plot category.
The price range in Malabe is relatively narrow, with listings priced between 1M and 2.5M per perch.
The median price is 1.7M per perch, indicating the typical price for most plots in the area.
A notable exception is a 20-perch land plot listed at 3.5M per perch, likely situated in a highly sought-after location.
The tighter price range in Malabe, combined with the occasional high-priced listing, suggests a balanced market with stable demand and room for premium pricing in select, high-demand areas.