Invest in Real Estate by Katarina Bosanska

Are you thinking about investing in real estate? Hurry up! According to the latest research in real estate industry in Sri Lanka the prices of real estates are expected to rocket by about 100% in the next period. So buying an apartment or a house appears as a very good investment. There is almost no posibbility to lose because the investigation says that there has been an increase in the prices of steel and other materials neccessary for building-up and also a slight rise in transportation and labour costs, service connections and overheads as well. "Real estate has been proven to be one of the best investments in this country for over two decades and land prices are known to escalate no matter what" Gunatilleke said. However there has been some misconception amongst the property developers and investors abot the price setting, they have thought that it would come up. Therefore in not very good economic conditions in Sri Lanka people rather think about well if to buy a property and if to invest in real estate or not. Another negative fact that has recently discouraged them from this kind of business has been the enforcement of a 5% tax of the total construction costs. "Recently however some developers have been unable to meet their payments to contractors as they are unable to sell their apartments, while some developers have been forced to stop construction mid way. Buyers are expecting real estate prices to come down, this is not going to happen, they will only escalate," he said.

related story: http://www.dailynews.lk/2008/02/21/bus01.asp

by Katarina Bosanska for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

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