I am thinking of buying property in Sri Lanka. Could anyone tell me of the pro's & cons of this.?

Question

On the financial side of thing what are perches? Is it $KKK?
Any information would be helpful.
Thanks

Answer 1

On the plus side, you can get a pretty decent house & land for about $20K (US). Also, cost of living is pretty cheap there, and the people are very friendly. As far as speaking the language goes, it might help to learn Sinhalese, though English is spoken by a good fraction of the population.

One important consideration is how are you going to live? If you plan on starting your own business, there's the challenge of being an entrepreneur in a foreign country. If you have some money set aside & plan on living off the interest (say, from an annuity), there are issues and costs involved in transferring money into Sri Lanka (or most other countries) from abroad.

Also, there's the matter of the on-again-off-again civil war there. The LTTE is concentrated in the northern part of the country, around the Jaffna peninsula. However when they strike, they usually do so by setting off bombs in urban areas like Colombo. To date they have not targeted foreigners (I think they're still a little image-conscious, pretending to be the oppressed minority), but that could change; there's also the risk of simply being in the wrong place at the wrong time. Some parts of the country, such as the mountainous central region, are safer than others.

Overall I think the pros outweigh the cons. If you're going to live there, though, get used to eating some spicy food. :-)

Answer 2

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