The Condominium Property Volume Index has increased significantly during Q4, 2021 with a notable increase of 49.0 per cent compared to Q4, 2020 and with a growth of 48.4 per cent compared to Q3, 2021. In the backdrop of inflationary pressures and the relatively low levels of return earned on traditional investment avenues, investors are moving toward non-traditional investment avenues, among which investment on apartments is becoming increasingly popular. Further, an observable shift is seen in the price categories of transactions. While 77 per cent of transactions were priced below Rs.25 million a year ago, it has reduced to 49 per cent in Q4, 2021. Moreover, the Single Condominium projects in the Colombo district remain to be the most preferred category in Q4, 2021.

Considering the severity of the external shocks and recent developments in the domestic front, the Monetary Board of the Central Bank of Sri Lanka announced a comprehensive policy package on 04 March 2022 with the view to counter such economic headwinds. The Central Bank also indicated that it will continue to closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and will stand ready to take further measures as appropriate, with the aim of achieving stability in the fronts of inflation, the external sector, the financial sector, and real economic activity.