Southbeach Weligama has seen unprecedented sales since August, selling at an average of one unit per week, the main reason being its prime location, right on Weligama beach.
The project is currently 50% sold with a good mix of 60% Sri Lankan and 40% foreign clientele. The two penthouses with its spectacular views have also been sold. The 75 meter pristine beachfront and 35 meter pool augments a distinctive and ethical lifestyle adding value to the complex, which predicts a gross rental yield of 6.5%. At a starting price of US$180,000, the initial booking deposit is just 5% and 30% at the signing of the Sale & Purchase Agreement. The project is billed for completion by December 2024, the company said in a media release.
Keeping well ahead of its targeted schedule having completed the first phase of construction of the foundation ahead of timelines this month, the demand for the 106 apartment complex is also seeing a continued trend amongst buyers.
“Wanting to enjoy a lifestyle-led investment, COVID-19 has really sped up this trend,” says Managing Director Balmond Studio John Balmond. “People want to enjoy this prime beach at these prices.”
SouthBeach Weligama is designed by internationally acclaimed design trailblazer Balmond Studio led by Sri Lankan-born Cecil Balmond OBE, the world's leading thinker on form and structure.