Investing in an apartment is one of the biggest financial decisions you’ll make—especially in a developing market like Sri Lanka where regulations, costs, and infrastructure vary widely. Whether you’re a first-time buyer, expat, or investor, here are 10 essential things to check before signing the deal.

✅ 1. Title Deed & Legal Ownership

Before anything else, verify the authenticity and clarity of the title deed. Ensure:

  • The seller is the rightful owner.

  • The property is not mortgaged or under dispute.

  • The deed is registered with the Land Registry.

Always engage a licensed property lawyer to do a title search and vet the documentation.

✅ 2. Certificate of Conformity (COC)

Issued by the local municipal council, the COC confirms that the building complies with approved architectural plans and safety regulations. Never buy an apartment without a valid COC, especially in new developments.

✅ 3. Developer Reputation

Check the track record of the developer or construction company:

  • Have they completed past projects on time?

  • Do they deliver what they promise?

  • Are there unresolved complaints?

A reputable developer is key to minimizing construction delays or legal complications.

✅ 4. Location & Connectivity

Evaluate the apartment’s location based on:

  • Proximity to workplaces, schools, hospitals, and public transport.

  • Future development plans (road expansions, malls, etc.)

  • Flood risks or restricted zones.

A good location = better resale value + rental potential.

✅ 5. Bank Financing & Payment Terms

If you’re planning to use financing:

  • Locals and dual citizens can apply for local mortgages.

  • Foreigners must pay 100% upfront via an Inward Investment Account (IIA).

  • Clarify the payment structure—whether it’s milestone-based or full-on-handover.

✅ 6. Maintenance Fees & Hidden Costs

Monthly and annual expenses can add up:

  • Common area maintenance

  • Security fees

  • Water/electricity for shared facilities

  • Sinking fund for long-term repairs

Ask for a detailed breakdown of these costs before purchase.

✅ 7. Apartment Layout & Ventilation

Don’t rely only on 3D renders. Visit the site or model apartment to inspect:

  • Room size, natural light, and ventilation

  • Placement of windows and balconies

  • Privacy between apartments

An attractive layout improves your daily quality of life and rental appeal.

✅ 8. Legal Restrictions for Foreign Buyers

Foreigners cannot buy freehold land, but can buy apartments on any floor if the payment is made via inward remittance. Check:

  • If the seller complies with the Land (Restrictions on Alienation) Act

  • The apartment is legally categorized as a condominium

✅ 9. Amenities & Services

Evaluate what the complex offers:

  • Parking, 24/7 security, elevators

  • Gym, pool, clubhouse

  • Back-up generators and water tanks

Make sure these are actually built and functioning—not just promised in brochures.

✅ 10. Exit Strategy & ROI

Think beyond the purchase:

  • How easy will it be to resell the property?

  • Is there rental demand in the area?

  • Are prices appreciating?

Even if you’re buying for personal use, having a clear exit strategy gives financial flexibility.

📞 Ready to Make the Right Move?

Whether you’re looking to invest in a luxury apartment or lease land for a long-term project, our team at Gloveh is here to guide you step-by-step with transparency, expertise, and care.

You can Call or WhatsApp NOW ☎️ +94 777 81-82-39 / +94 77 543 7846
and speak to one of our team members about an appointment & more info.