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Sri Lanka Stops Foreign Land Ownership

Category: Real estate, Posted:25 Feb 2013 | 20:57 pm

In an abrupt move last week the government of Sri Lanka has announced a ban on land ownership for foreigners. This will cover both privately held property and state enterprises.
While the civil war ended three years ago and a rush of foreigners has taken up property, the government has said there has not been enough further investment via hard economic benefits. Much of the concerns is that early investors have been speculators and not those interested in developing significant businesses.
At the same time many foreign investors have been put onto the sidelines for much of last year over concerns about high inflation, weakening currency and rising interest rates.
A regime of long term leases is the governments apparent solution to the ban. The shifting policy is expected to put up another obstacle to foreign investment and may further dampen sentiment about the ongoing economic stability of the country.

Other News

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Thailand’s Sandbox Is Not A Quarantine

Category: Tourism, Posted:12 Jun 2021 | 10:45 am As we are 19 days away from Thailand’s Sandbox tourism reopening in Phuket, there continues to be a misunderstanding of the overall rules and the term quarantine is incorrectly used. Quarantine by definition is isolation, whereby Sandbox travelers will be able to move throughout their hotel, visit beaches, restaurants, shops etc. Remember Phuket is about […]
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C9 Hotelworks Releases New Krabi Report

Category: Hotels, Posted:07 Jun 2021 | 06:00 am Comparing major Southern Thai resort destinations, Krabi is one that historically balances well between the international and domestic markets. In the new Krabi Hotel Market Update from C9 Hotelworks, we take a look back at pre-Covid trading to examine from what point hoteliers hope tourism will upcycle towards recovery and what will the trends be. […]
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SHA Plus Program In Focus

Category: Hotels, Posted:06 Jun 2021 | 13:17 pm A key part of the upcoming Phuket Sandbox reopening process is the requirement for incoming international travelers to stay in an SHA Plus hotel for 14 days, or shorter if only visiting the island. Those who want to travel onward to other destinations in Thailand can proceed after a 14-day period. As travelers are scrambling […]