Sri Lanka opens its doors to global property investors
The island nation of Sri Lanka in South Asia, off the coast of India, has swung open its doors to global investment. Luxury property is booming and the country is now welcoming foreign ownership of real estate, with a wave of new measures announced in 2016 having come into force in April 2017. The new regulations permit the ownership of freehold property by nonresidents(but only above the 4th floor) and money can be freely brought in and easily repatriated. Capital gains tax does not apply, and mortgage products targeted at international buyers launched in April at 40% LTV
Check into the one & only freehold beachfront investment in Sri Lanka
Dusit Thani Sri Lanka, located on the sought-after west coast, offers the opportunity to invest in an exciting and secure emerging market, right at the moment that it opens its doors to international investment. The project is one of a kind: Sri Lanka’s only coastal resort in which non-residents are currently allowed to invest, with 4 spectacular beaches and 8 acres of landscaped tropical gardens on its doorstep.
The resort is operated by luxury hotel brand Dusit Thani, which will market the apartments to tourists and provide a fixed return of 6% to investors for the first 5 years. The Dusit Thani lease obtains for 20 years, during which the units may be re-sold to investors, and after which they become saleable on the open market – with fantastic capital appreciation potential.
This model, which combines hotel-style income generation with coveted residential title, allows investors to capitalise on record growth in tourism while also benefitting from a property market that has been on fire for the best part of the last decade.
1 bed units start from USD $239,000 with financing at 40% LTV available.