{"id":4377,"date":"2019-10-31T18:35:00","date_gmt":"2019-10-31T11:35:00","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4377"},"modified":"2021-06-04T14:43:32","modified_gmt":"2021-06-04T07:43:32","slug":"trouble-in-paradise-shakes-sri-lanka","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/","title":{"rendered":"Sri Lanka, a decade after the war"},"content":{"rendered":"

From the ashes of the civil war, a little shaken, a little stirred Sri Lanka is still finding its footing in the real estate industry<\/p>\n

\"\"
Ninja SS\/Shutterstock<\/figcaption><\/figure>\n

Ten years after the civil war ended in Sri Lanka, the island nation still reckons with turmoil: something witnessed in devastating fashion on Easter Sunday when suicide bombers killed hundreds in a series of coordinated attacks on churches.<\/p>\n

Those attacks sent shockwaves around the world and added to a sense of crisis in the island nation, which, of late, has been embroiled in political intrigue and mired in economic woes.<\/p>\n

In October 2018, Sri Lankan President Maithripala Sirisena ousted Prime Minister Ranil Wickremesinghe in a months-long constitutional crisis that undercut investor confidence, downgraded the country\u2019s credit ratings, and fomented foreign capital outflows.<\/p>\n

This year, the country owes almost USD6 billion in foreign debt repayments\u2014record obligations that come immediately on the heels of a year in which the Sri Lankan rupee dropped 16 percent, one of Asia\u2019s worst-performing currencies then.<\/p>\n

The property market is suffering amidst the political standoff. Reports by professional services firm KPMG Sri Lanka reveal the depreciation of the rupee raised the dollar-denominated cost of high-end condominiums by around 20 percent toward the end of 2018. Some developers also claimed monthly condo sales sinking to just one to two units on average, down from eight to nine.<\/p>\n

The high-end and luxury segment may see some challenges in the next 12 months with slower demand and absorption. The sluggish outlook is expected to continue till the upcoming elections at the end of the year. However, there are still some good opportunities available in the market for prospective investors<\/p><\/blockquote>\n

Today the prime residential segment grapples with absorption issues while middle and affordable segments are seeing sustained demand, according to Nirmal de Silva, director and CEO of Paramount Realty.<\/p>\n

\u201cThe high-end and luxury segment may see some challenges in the next 12 months with slower demand and absorption. Larger foreign developers are expected to fare better than the local counterparts during this time period,\u201d says de Silva. \u201cThe sluggish outlook is expected to continue till the upcoming elections at the end of the year. However, there are still some good opportunities available in the market for prospective investors.\u201d<\/p>\n

For perspective, Sri Lanka has 18,000 luxury and semi-luxury apartment units under construction and in the pipeline, compared with an inventory of just 438 units at the top tier at the turn of the millennium, according to Roshan Madawela, CEO of Research Intelligence Unit (RIU). \u201cIs there enough domestic demand to meet the supply at the top end? No, there isn\u2019t. The developers really do need to look beyond\u2014they need to look at the diaspora, at foreign investors,\u201d says Madawela, adding the tier-one segment \u201cneeds a lot of support from government in terms of policies and initiatives geared towards mobilising foreign investors.\u201d<\/p>\n

Due to non-performing loan risks associated with real estate and construction, it isn\u2019t surprising the banking sector has clamped down on lending. \u201cProperty developers are finding it difficult to pay back loans and most construction projects are on hold,\u201d Ravi Abeysuriya, group director of financial services group Candor, told press at the Lanka Property Show mounted by LankaPropertyWeb.com.<\/p>\n

\"\"
The changing face of the skyline in Sri Lanka\u2019s capital Colombo is indicative of the city\u2019s transformation from a mainly low-rise metropolis to one peppered with new condominium projects<\/figcaption><\/figure>\n

Under Budget 2019, it seems the government is moving to address these problems. Its programmes include granting five-year residential visas to foreigners who invest USD400,000 or more in the country\u2019s condominiums. Until last year, foreigners had\u00a0 been restricted from buying freehold condos above the fourth floor of a building. The new budget also includes a scheme extending a loan of LKR10 million (USD142,000) to documented overseas workers seeking mid-range apartments and houses. More than two million Sri Lankans who are living overseas currently have a bank account or own a property in Sri Lanka, according to RIU data.<\/p>\n

Another programme under Budget 2019, dubbed \u201cHome Sweet Home\u201d, offers loans worth LKR10 million each for eligible couples to own starter homes. \u201cThe mid and affordable segments will continue to have demand. The proposed preferential loan scheme for newly married couples is anticipated to positively impact this segment,\u201d says de Silva.<\/p>\n

A booming middle-income and high-income population who want to live centrally in Colombo will continue to power domestic demand for the more affordable segments, according to Madawela. \u201cDemand for renting apartments in Colombo will continue to increase, and that in itself will drive apartment markets in tiers two and three.\u201d<\/p>\n

Whilst encouraging more foreigners to buy Sri Lankan property, the government is also setting out to manage its record debt repayments and lower the budget deficit. Last year, the country aimed to reduce its deficit to 4.8 percent of the GDP but ended up hitting 5.3 percent. It is aiming for 4.4 percent of the GDP this year.<\/p>\n

\"\"
The area around the main port in Colombo is set to be a focal point for Sri Lanka\u2019s attempts to attract investors \u2013 with a Chinese-backed reclamation project to act as an extension to the city\u2019s existing CBD<\/figcaption><\/figure>\n

The government is remedying such failure by increasing its tax revenues with encouragement from the International Monetary Fund, which approved a three-year, USD1.5-billion loan for the country in 2016. A VAT of 15 percent has been levied on apartment sales since 1 April to that end. \u201cThe government didn\u2019t introduce VAT last year, but they threatened to,\u201d says Madawela. \u201cThis harmed the market to the extent that it created a lot of uncertainty. This year, they threatened to introduce that\u2014and they did\u2014and many people are not happy about it.\u201d<\/p>\n

Despite Sri Lanka\u2019s platitudes on its budget, it stands to borrow even more from China this year, even though the government\u2019s decision to lease its Hambantota port to China for 99 years is already being held up as a cautionary example of debt diplomacy via the Belt and Road Initiative. \u201cIt is imperative that loans or funds are obtained only based on need. The ability to repay these commitments should be at the heart of all decision-making. Infrastructure plans that cannot generate necessary revenue need to be reviewed regularly,\u201d de Silva says.<\/p>\n

The Hambantota port is not to be confused with the 269-hectare Port City reclamation project in the Sri Lankan capital, which de Silva calls a \u201cgame-changer\u201d. Jointly developed by the Sri Lankan government and China\u2019s CHEC Port City Colombo (Pvt) Ltd, the USD15-billion project will be divided into five different precincts, including an entirely new CBD, the Colombo International Financial City.<\/p>\n

Sri Lanka is boldly forging ahead with infrastructure projects, most notably a USD6-billion light rail transit line, Colombo\u2019s first, and the Pettah Multimodal Transport Hub. A road project, the Central Expressway, will link Colombo to the city of Kandy. Contractors in such projects are exempted from the Nation Building Tax.<\/p>\n

\"\"
Growing visitor numbers flocking to beautiful beaches are indicative of Sri Lanka\u2019s appeal as a tourist destination<\/figcaption><\/figure>\n

\u201cThe government\u2019s infrastructure drive has been satisfactory considering we are just 10 years after the three-decade old war was over. With rapid urbanisation, much development needs to be done in the future; a multi-stakeholder, engagement-driven plan should be the way forward,\u201d says de Silva.<\/p>\n

The upcoming weeks are going to be pivotal for the real estate market as presidential elections will be called in November.<\/p>\n

\u201cThe short-term outlook for the real estate market is not rosy. I say that because the next 12 months is going to see elections and a lot of political manoeuvring, which never helps any market, especially real estate,\u201d says Madawela.<\/p>\n

More: 6 places to visit and live in Galle<\/strong><\/a><\/p>\n

While its political scene suffers from poor optics on the global stage, its property sector has cause to regain investor confidence. Sri Lanka ranked 66th in the latest edition of the JLL Global Real Estate Transparency Index, up from its debut ranking of 69 in 2016.<\/p>\n

\u201cNot every idea will be a good idea. National-level policies and decision-making should not be based on winning an election but what is the best long-term outcome for the country,\u201d says de Silva, urging \u201czero tolerance\u201d for wastage and corruption.<\/p>\n

\u201cPolitical stability and consistent policy framework are the key. There is a growing need for the legislators to walk the talk and deliver results. Continuing to improve the law and order, improving the ease of doing business, and increasing the efficiency of the public sector should be the key focus areas,\u201d he adds.<\/p>\n

This article originally appeared in Issue No. 154<\/a> of PropertyGuru Property Report Magazine<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

From the ashes of a civil war, the island nation is still finding its footing in the real estate industry<\/p>\n","protected":false},"author":8,"featured_media":20343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[561,97],"tags":[121,370,120],"class_list":["post-4377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-destination","category-magazine","tag-colombo","tag-galle","tag-sri-lanka","news_country-sri-lanka","news_author-al-gerard-de-la-cruz"],"acf":[],"yoast_head":"\nSri Lanka, a decade after the war | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sri Lanka, a decade after the war | Asia Property Awards\" \/>\n<meta property=\"og:description\" content=\"From the ashes of a civil war, the island nation is still finding its footing in the real estate industry\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/\" \/>\n<meta property=\"og:site_name\" content=\"Asia Property Awards\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/asiapropertyawards\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-31T11:35:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-04T07:43:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/Sri-Lanka-market-update-for-web-154.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"666\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Al Gerard de la Cruz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:site\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Al Gerard de la Cruz\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/\"},\"author\":{\"name\":\"Al Gerard de la Cruz\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/d598baf75e0e9766e7eff8e4d8ab25ca\"},\"headline\":\"Sri Lanka, a decade after the war\",\"datePublished\":\"2019-10-31T11:35:00+00:00\",\"dateModified\":\"2021-06-04T07:43:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/\"},\"wordCount\":1469,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Sri-Lanka-market-update-for-web-154.jpg\",\"keywords\":[\"colombo\",\"galle\",\"Sri lanka\"],\"articleSection\":[\"Destination\",\"Magazine\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/\",\"name\":\"Sri Lanka, a decade after the war | Asia Property Awards\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Sri-Lanka-market-update-for-web-154.jpg\",\"datePublished\":\"2019-10-31T11:35:00+00:00\",\"dateModified\":\"2021-06-04T07:43:32+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Sri-Lanka-market-update-for-web-154.jpg\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Sri-Lanka-market-update-for-web-154.jpg\",\"width\":1000,\"height\":666},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/trouble-in-paradise-shakes-sri-lanka\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sri Lanka, a decade after the war\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"name\":\"Asia Property Awards\",\"description\":\"PropertyGuru Asia Property Awards\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\",\"name\":\"Asia Property Awards\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"width\":1920,\"height\":1080,\"caption\":\"Asia Property Awards\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/asiapropertyawards\",\"https:\\\/\\\/x.com\\\/AsiaPropAwards\",\"https:\\\/\\\/www.instagram.com\\\/asiapropertyawards\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/showcase\\\/asia-property-awards\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCCMEFMU-KW5dEKfb5dPTL9Q\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/d598baf75e0e9766e7eff8e4d8ab25ca\",\"name\":\"Al Gerard de la Cruz\",\"description\":\"Deputy Editor\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/author\\\/gerard\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sri Lanka, a decade after the war | Asia Property Awards","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/","og_locale":"en_US","og_type":"article","og_title":"Sri Lanka, a decade after the war | Asia Property Awards","og_description":"From the ashes of a civil war, the island nation is still finding its footing in the real estate industry","og_url":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/","og_site_name":"Asia Property Awards","article_publisher":"https:\/\/www.facebook.com\/asiapropertyawards","article_published_time":"2019-10-31T11:35:00+00:00","article_modified_time":"2021-06-04T07:43:32+00:00","og_image":[{"width":1000,"height":666,"url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/Sri-Lanka-market-update-for-web-154.jpg","type":"image\/jpeg"}],"author":"Al Gerard de la Cruz","twitter_card":"summary_large_image","twitter_creator":"@AsiaPropAwards","twitter_site":"@AsiaPropAwards","twitter_misc":{"Written by":"Al Gerard de la Cruz","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#article","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/"},"author":{"name":"Al Gerard de la Cruz","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/d598baf75e0e9766e7eff8e4d8ab25ca"},"headline":"Sri Lanka, a decade after the war","datePublished":"2019-10-31T11:35:00+00:00","dateModified":"2021-06-04T07:43:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/"},"wordCount":1469,"commentCount":0,"publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/Sri-Lanka-market-update-for-web-154.jpg","keywords":["colombo","galle","Sri lanka"],"articleSection":["Destination","Magazine"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/","url":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/","name":"Sri Lanka, a decade after the war | Asia Property Awards","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#primaryimage"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/Sri-Lanka-market-update-for-web-154.jpg","datePublished":"2019-10-31T11:35:00+00:00","dateModified":"2021-06-04T07:43:32+00:00","breadcrumb":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#primaryimage","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/Sri-Lanka-market-update-for-web-154.jpg","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/Sri-Lanka-market-update-for-web-154.jpg","width":1000,"height":666},{"@type":"BreadcrumbList","@id":"https:\/\/www.asiapropertyawards.com\/en\/trouble-in-paradise-shakes-sri-lanka\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.asiapropertyawards.com\/en\/"},{"@type":"ListItem","position":2,"name":"Sri Lanka, a decade after the war"}]},{"@type":"WebSite","@id":"https:\/\/www.asiapropertyawards.com\/en\/#website","url":"https:\/\/www.asiapropertyawards.com\/en\/","name":"Asia Property Awards","description":"PropertyGuru Asia Property Awards","publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.asiapropertyawards.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization","name":"Asia Property Awards","url":"https:\/\/www.asiapropertyawards.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","width":1920,"height":1080,"caption":"Asia Property Awards"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/asiapropertyawards","https:\/\/x.com\/AsiaPropAwards","https:\/\/www.instagram.com\/asiapropertyawards\/","https:\/\/www.linkedin.com\/showcase\/asia-property-awards","https:\/\/www.youtube.com\/channel\/UCCMEFMU-KW5dEKfb5dPTL9Q"]},{"@type":"Person","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/d598baf75e0e9766e7eff8e4d8ab25ca","name":"Al Gerard de la Cruz","description":"Deputy Editor","url":"https:\/\/www.asiapropertyawards.com\/en\/author\/gerard\/"}]}},"_links":{"self":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/4377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/comments?post=4377"}],"version-history":[{"count":0,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/4377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media\/20343"}],"wp:attachment":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media?parent=4377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/categories?post=4377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/tags?post=4377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}