Sri Lanka condominium sales drop 15.2-pct in 2026 1Q: CB

ECONOMYNEXT – Sri Lanka’s condominium sales decreased by 15.2 percent during the first quarter of 2026, from a year ago, according to a condominium market survey conducted by the central bank. “The Condominium Property Sales Volume Index, which covers the Colombo District and other major cities, recorded a year-on-year decrease of 15.2 per cent,” the central bank said. Its real estate market analysis noted that during 2026 Q1, the Price Index for New Condominiums within the Colombo District recorded a year-on-year increase of 18.5 per cent. Colombo District recorded the highest proportion of condominium sales in the period, comprising 65 per cent of the total transactions. Transactions in the 25-50 million rupees range fell, while transactions in the 50-70 million rupees price range, and the above 75 million rupee range increased slightly, CBSL said. “With regard to project completion status, the majority of units in completed projects had already been sold, while 51 per cent of units in ongoing projects remained reserved.” The Asking Price Indices for the Colombo District showed a year-on-year increase in the prices of lands, houses, and condominiums, the central bank said. The majority of condominiums were bought by Sri Lankan residents, with a slight increase compared to the previous quarter, and the previous year. Purchases by dual citizens remained flat. “Most condominium purchases were made by Sri Lankan residents, primarily for immediate occupancy, and were financed using their own funds.” (Colombo/Jul2/2026)