CONTENTS: INTRODUCTION, WHAT IS A HOTSPOT?, JOLLY HARBOUR, ANTIGUA - ST. JAMES, BARBADOS - GOLDEN SANDS, BULGARIA - DUBROVNIK, CROATIA - DUBAI, UAE - EL GOUNA, EGYPT - FORTALEZA, BRAZIL - ACCRA, GHANA - GOZO, MALTA - BUDAPEST, HUNGARY - KINSALE, COUNTY DONEGAL, IRELAND - LIMASSOL, CYPRUS - CANCUN, MEXICO - NATAL MIDLANDS, SOUTH AFRICA - NAXOS ISLAND, GREECE - MOUNT MAUNGANUI, LEIGH, NEW ZEALAND - NIMES, FRANCE - ORLANDO, FLORIDA - PANAMA CITY, COSTA BLANCA, PANAMA - KRAKOW, POLAND - LAGOS, REDONDO, PORTUGAL - MURCIA, SPAIN - UNAWATUNA, GALLE, SRI LANKA - PHUKET, PATTAYA, THAILAND - FETHIYE, TURKEY - ISOLA D’ELBA, TUSCANY - QUEENSLAND, ADELAIDE
|UNAWATUNA, GALLE, SRI LANKA|
|Population||19.41 million persons|
|Land Area||64,740 sq km|
|Currency & exchange rate||1 Sri Lankan rupee (SLRe$) = 100 cents|
(~ 0.00547217 GBP)
|GDP-PPPMethod||49,420.0 millions of US dollars|
|GDP Per Head||2,546.0 Thousands of US Dollars Per Person|
|Financial||Interest Rate||Inflation Rate|
|National Bank||Central Bank of Sri Lanka|
|Political||After independence from Britain in 1948, the political scene has been dominated by two parties – the United National Party (UNP) and the Sri Lanka Freedom Party (SLFP).|
The country became a republic in 1972, adopting a new constitution along with the Sinhala name, Sri Lanka.
Serious conflict arose from the Tamil minority’s demands for a separate Tamil state, with terrorist activity by the Liberation Tigers of Tamil Eelam (Tamil Eelam being the title of their notional independent state) prevalent since the 1970s. This conflict has been of much focus for continuing governments and is still ongoing.
|Languages||Sinhala (official and national language), Tamil (national language)|
|Customaries||Shaking hands is the normal form of greeting. It is customary to be offered tea when visiting and it is considered impolite to refuse. Punctuality is appreciated. A small token of appreciation, such as a souvenir from home or company, is always welcomed. Informal, Western dress is suitable. Visitors should be decently clothed when visiting any place of worship, and shoes and hats must be removed.|
|Tax||Income Tax||Capital Gains Tax|
From March 2002, the tax on capital gains was abolished and so to did the transfer tax payable by foreign nationals on the purchase of immovable property in April 2002. However, the stamp duty on the transfer of immovable property continues to apply
|Description||Sri Lankan economy is one of the most progressive in South East Asia with the major industries being agriculture, forestry, fishing, services, manufacturing and construction.|
Despite the well documented internal conflicts concerning Tamil, Sri Lanka has been characterised by its steady, albeit slow, economic growth. This is reflected in the average annual growth during the last five years – between three and six percent, while both inflation and unemployment have been considerably reduced.
The main destinations of export are the US and UK, Belgium, Germany and the UAE.
|Investor Profile:||Cash & Equity Investor|
|Climate:||Hours of Sunshine Per Day in Summer||Days of Rain Per Year||January||July||Average|
|Proximity to:||Airport||Beach||Nearest City|
|Most visitors to Unawatuna make a beeline here from the BI Airport, Colombo, which is 150 kms away but would take over four hours by private vehicle or longer by public transport.||Plenty of beautiful beaches in the surrounding area||Galle|
|Restaurants and bars:||Visitors expecting 24 hour beach parties, lively bars, and wild full moon raves will be seriously disappointed. Thailand this ain't! The expected rise in younger tourists and backpackers will no doubt liven things up a bit but Unawatuna is a sleepy fishing village and the beach area is only mildly more awake. When the sun goes down things get very quiet - there are still plenty of bars and restaurants open (some even turn the music up!) but by midnight most have closed. There are a couple of places to hang out till the early hours but it's just like being in a normal bar rather than a party.|
There are plenty of restaurant, with fish being very popular of course. Butter fish, calamari, prawns and lobster too.
|Sports and leisure facilities:||Unawatuna is a bird watchers paradise. More than fifty species of endermic birds have been observed in the small compact area. In addition to this, there are options for snorkelling, surfing and scuba diving.|
The Galle international cricket stadium in the nearby town regularly features games with tickets available upon requesting information once there.
|Tuk tuks, 3 wheel taxis and local buses available.||From Colombo, take a car/bus/train to Galle. From Galle, if you're on a very low budget then you can get a bus (any going east in the vague direction of Matara) for a few rupees. Best bet is to get a three-wheeler from Galle - about 150 rupees and a 15 minute ride.|
|Crime rate:||As for the country as a whole, there are some risks of terrorism but most trips are trouble-free. This does not affect the Unawatuna region, which is trouble-free. While violent crimes against foreigners are relatively infrequent, You should take precautions to safeguard your valuables, especially passports and money.|
|Main types of employment||Fishing, Farming, service and guesthouses.|
|Future plans:||Still yet to be unexplored and commercially developed, this is due for imminent change when the influx of westerners invest into the beautiful and tranquil beaches of Unawatuna.|
The government, together with other agencies, are constructing a new highway from Colombo to Matara that will be completed in 2007 and will cut down the journey time to Galle to 1 hour and to Matara to 1 hour 30 minutes.
|Yield range||5 – 7%|
|Type of property||Entry Price||Rent-|
|Average Annual Yield|
|2 bed apartment||£16,000||£100||£90||7%|
|3 bed apartment||£27,000||£130||£130||5.7%|
|3 bed townhouse||£27,000||£130||£130||5.7%|
Demand for letting
|Very high||Moderately high|
|Finance and leisure scores:||Total (out of 10)||Financial (out of 5)||Leisure (out of 5)|
|Flights scheduled from:||London airports and other major cities in the UK|
|Typical cost of flights:||Peak||Off Peak|
|550 – 1000 GBP||400 – 800 GBP|
|Operators:||Gulf Air, Srilankan Airlines, Czech Air, Emirates, Qatar Airways, Etihad Airways, British Airways|
|Description:||76 Miles South of Colombo, The number one beach destination in Sri Lanka, the sleepy fishing hamlet Unawatuna has a mythical and historical past, which makes it a very special place. Unawatuna is a gorgeous beach, rightly deserving the discovery channel's title "best beach in the world".|
Cheap entry prices but finance will be difficult so expect to pay cash for the property. Interest rates are extremely high so its better, if you can, to borrow in the UK to finance the purchase if you have to. This is a moderately risky investment so if you’re a nervous investor then stay away!
|Overseas real estate||overseasrealestate.net/|
Silver Lanka Land
Aluth Wellewe Watte
|(+94) 912282356|| |
|Lanka Real estate||www.lankarealestate.com|
Silver Lanka Land
Aluth Wellewe Watte