Condominium sales surge in 3Q as prices continue to firm

Friday, 2 January 2026 00:21 - - {{hitsCtrl.values.hits}}

CBSL survey shows most completed units already sold, 56% of units under development reserved

Condominium market activity in the Colombo District strengthened sharply in the third quarter of 2025, with sales volumes recording a significant year-on-year (YoY) increase alongside continued price appreciation, according to the Central Bank of Sri Lanka’s (CBSL) latest Real Estate Market Analysis.

The Price Index for New Condominiums in the Colombo District rose 12.7% YoY to an index value of 265.7 in 3Q 2025. At the same time, the Condominium Property Sales Volume Index, which captures transaction activity in the Colombo District and other major cities, surged 128.4% YoY, reflecting a sharp pickup in market turnover.

The CBSL noted that the Colombo District accounted for the largest share of condominium sales during the quarter.

Transactions in the Rs. 25 million to Rs. 50 million price range represented the highest proportion of activity, accounting for 40% of total sales. The report also showed that the majority of units in completed projects had already been sold, while 56% of units in ongoing developments were reserved, pointing to steady demand across different stages of project completion.

Broader property price trends in the Colombo District also remained positive during the quarter. Asking price indices for lands, houses, and condominiums recorded YoY increases of 22.5%, 7.9%, and 8.1%, respectively, highlighting continued upward pressure on real estate values.

The findings are based on responses from 18 condominium developers who participated in the CBSL survey for 3Q. The CBSL said the results indicate improving market activity, particularly in mid-priced segments, amid stabilising economic conditions.