The city of Gall on Sri Lanka’s scenic south coast is not only a spectacular tourist destination, but also a major focus for foreigners wanting to buy or lease holiday and investment property.
The Singapore-based PropertyGuru website is carrying a lengthy and detailed report on how the city, particularly the picturesque and über-historic Galle Fort, is on the crest of a powerful development wave.
As it points out: “The charming town of Galle in Sri Lanka is attracting investors from around the world, thanks to the country’s strong economic growth, rapidly improving infrastructure and huge increase in tourist arrivals.”
Which is in turn having a dramatic impact on prices of both established properties and raw building land, particularly choice plots overlooking the surrounding Indian ocean and with access to the beach, which can fetch more than US$5million.
Unsurprisingly, it is tourism—and the government’s increasing reliance on its as a source of much-needed revenue—that is driving demand.
Says Hamish Macdonald, a British expat with properties in Colombo and Galle: “We love Galle because it combines something of the charm of a Mediterranean, medieval town with the exotic, tropical landscape. The beaches are also absolutely stunning.”
JLL Sri Lanka MD Steven Mayes agrees: “Galle is all about lifestyle, environment, heritage and ease of access. In addition, travelling time from Colombo has reduced dramatically since infrastructure improvements, and these positive changes have also opened up the region to new tranches of foreign investors attracted by the historic Galle Fort area, the town’s rich heritage, and the unspoiled beaches located to the south and east of the city, where absolute seafront real estate can still be acquired at relatively modest cost.”
Adds PropertyGuru: “Easy on the pocket and with its gorgeous pearly white beaches and national parks, it is no wonder this major city in Sri Lanka is a huge draw for discerning travellers seeking the perfect blend of nature and great sights.
“That is not all. Galle, with its rich history dating back some 450 years ago, is also rapidly gaining popularity among history and culture buffs. There are numerous archaeological sites, awe-inspiring architecture, as well as a collection of world-beating temples and museums, which allow travellers to delve deep into the country’s rich history and culture.
“Whether you’re a nature lover, culture seeker or avid foodie, there is definitely something for you here. One of the must-visit attractions here is definitely the famous Galle Fort, a UNESCO World Heritage site, with large parts of its walls still intact today.”
Read the full report here.