FINANCIAL CHRONICLE – The sales of condominiums in Sri Lanka experienced a decline of 15.2 percent in the first quarter of 2026 compared to the same period last year, as reported by a market survey conducted by the central bank.
The central bank’s findings indicated that the Condominium Property Sales Volume Index, which includes data from the Colombo District and other key urban areas, demonstrated a year-on-year drop of 15.2 percent.
Despite the decline in sales volume, the Price Index for New Condominiums in the Colombo District showed a significant increase of 18.5 percent on a year-over-year basis during the first quarter of 2026.
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During this period, the Colombo District accounted for the majority of condominium transactions, representing 65 percent of all sales.
Sales in the price bracket of 25-50 million rupees saw a decrease, while there was a slight uptick in transactions for properties priced between 50-70 million rupees and those exceeding 75 million rupees, according to the Central Bank of Sri Lanka (CBSL).
In terms of project completion, the analysis revealed that most units in completed developments had been sold, while 51 percent of units in projects still under construction were still available for reservation.
The Asking Price Indices for the Colombo District reflected a year-on-year rise in the prices of land, houses, and condominiums, as reported by the central bank.
The majority of condominium purchases were made by local residents, showing a slight increase compared to both the previous quarter and the same time last year. Meanwhile, purchases by dual citizens remained unchanged.
“The majority of condominium buyers were Sri Lankan residents, primarily seeking immediate occupancy and using their personal funds for financing,” the report stated. (Colombo/Jul2/2026)
