The asking price index for Sri Lankan lands, houses and condominiums saw growth in the third quarter of 2025, with housing prices in particular moving up to 179 on the index for prices, with a 7.9% year on year growth posted, the Central Bank of Sri Lanka Real Estate Market Analysis for Q3 2025 Sri Lanka shows.

“In the Colombo district, the asking price indices for lands, houses and condominiums recorded increased in the third quarter of 2025, reflecting growth on both quarter on quarter and year on year basis,” the report said 

“House prices also moved up, with the index reaching 179, reflecting 7.9% growth year on year and 1.2% increase quarter on quarter.” The report added that the asking price index for lands in the Colombo district by September rose to 157.7, which is a 22.5% year on year increase, and is a 4.9% increase from the previous quarter’s value.

Further, the asking price index in the condominium market climbed to 197.1, showing an 8.1% annual increase, along with a 1.2% rise compared to the previous quarter.

During Q3, the price index for new condominiums in the Colombo district recorded a year-on-year increase of 12.7%, bringing the index level to 265.7. At the same time, the condominium property sales volume index covering the Western province and several major cities showed a strong year-on-year rise of 128.4%. 

During the third quarter of 2025, condominium sales were largely concentrated in the Colombo district, with Gampaha and Kalutara recording the next highest shares of transactions. The majority of sales occurred within the Rs. 25 to 50 million price range while demand for premium units priced above Rs. 75 million also showed an increase. 

According to the information reported by survey participants, the main funding sources for the condominium projects continued to be resale deposits, bank loans and equity contributions. In line with previous quarters, the pattern of condominium transactions remained unchanged, according to the report.