Weligama, Matara District, Sri Lanka
4 Bed | 4 Bath
USD 1,306,296
Key Details
Weligama, Matara District, Sri Lanka
Sri Lanka
Sri Lanka simply has it all: an amazing history and culture, dramatic views, national parks teeming with leopards and elephants and palm-fringed beaches.
How To Get To Sri Lanka
There are many airlines that fly to Sri Lanka. Many Middle Eastern carriers fly to Colombo such as Emirates, Oman Air, Etihad, Qatar & Turkish and provide good connections around the globe. For the UK and Europe, Sri Lankan Airlines either fly direct from London or allow good connections from a number of European hubs. From North America, on the west coast it is best to connect through Asia while it makes most sense to connect through the Middle East or India if you are coming from the east coast. Asia provides many routings into Sri Lanka and is served by many major carriers (Singapore, Thai, Cathay and Malaysia) in the region.
When To Go To Sri Lanka
It is fairly difficult to accurately predict the weather patterns in Sri Lanka given it is an island that receives a range of weather fronts moving in from the Indian Ocean throughout the year. However, here is the general rule of thumb! There are two monsoons which affect Sri Lanka, the South-West Monsoon, or Yala Monsoon affects the south and west coasts from May to September, whilst the Maha, or North-East Monsoon affects the Cultural Triangle and East Coasts from October to January. That said, August is a little sunny sandwich for the south coast, so perfect for a beach break. For the summer, you can easily combine the Cultural Triangle with the East Coast beaches, or even the Maldives.
Weligama
Weligama is a small town on the south coast of Sri Lanka. Its name translates to ‘sandy village’, a testament to its wide golden sandy beaches. Over the years Weligama has gained popularity and slowly transformed itself from a small fishing village to a booming tourist spot and today it has secured itself as a top surfing destination.
Weligama enjoys one of Sri Lanka’s finest sandy bays. Its shallow waters are what attracts people from all over the world. Weligama is definitely the best place for you to surf on the south coast; whether you’re a beginner or a pro, you will find a beach to suit your ability.
Enjoy exploring local restaurants with friends – or relax on catamaran sail boats. See blue whales in nearby Mirrisa or leopards at Yala national park.
International investment into Sri Lanka has dramatically improved its infrastructure in recent years. Now, with the recognition of Lonely Planet’s No.1 Country To Visit, it is geared for further growth. With an 84% increase in land value in Weligama since 2016, this is a low-risk proposition with unique appeal.
Southbeach Weligama completes the picture, offering an affordable lifestyle-led apartment located in the country’s stunning south coast on one of the island’s few swimmable beaches.
FAQs:
Who are the developers?
Southbeach Weligama Properties (Private) Ltd PV-00225276
Who are the project team?
Architects: Balmond Studio
Contractors: Buildmart Pvt Ltd
Engineers: Civil & Structural Engineering Consultants Pvt Ltd
What are the construction timelines?
The construction commenced in March 2022. The handover is planned for the 4th quarter 2024.
What are the amenities in the project?
A 35 meter pool on the ground level, gymnasium, recording studio, art gallery, rooftop infinity pool, rooftop Bar & BBQ terrace.
Who manages the property?
Management company options are being looked at and will be appointed.
Can foreigners purchase apartments?
Foreigners can purchase apartments and require an Inward Investment Account (IIA) to be opened in any bank in Sri Lanka in order to bring-in funds. This is vital as all investment brought into Sri Lanka can be taken out via the same channel including capital gains in the event of a sale.
Are furniture packages available?
Bespoke furniture solutions are available and can be ordered from Q3 2023.
What are the applicable Taxes:
1. Value Added Tax (VAT): 18%
2. Social Security Contribution Levy (SSCL): 2.5%
3. Stamp Duty: 4%
4. Legal Fees: <1%
What process do I have to follow to purchase my apartment?
1. Identify the apartment of choice.
2. Sign the Construction Linked Payment Plan.
3. Make a token deposit of 5% to reserve the apartment.
4. Sign the Sales & Purchase Agreement which is a legally binding document between the developer and the purchaser within a period of 2 weeks.
5. Create an IIA account if transferring money from overseas.
6. Make the balance payments as per the signed construction linked payment plan.
7. Property deeds will be handed over to you once the development is completed.
Note current payment terms: 40% down payment, then 15% every 3 months. This will vary slightly as the project nears completion.
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