Sri Lanka, Aug. 13 -- By The Research Intelligence Unit, Colombo
It was said many years ago that Sri Lankans would never take to apartments because indigenous values demanded dwellings to have gardens, be accommodating to continuous refurbishments and for properties to be transferable from one generation to the next. Over the past two decades, we have witnessed the complete debunking of the myth with the volume of high-end apartments growing exponentially, corelating positively with high growth in GDP, improvements in living standards and a conducive external environment. The most significant boost to the apartment sector was of course the peace dividend that resulted in a complete transformation of the Colombo skyline with increasing numb...