📈 ‘Green Living’ Real Estate Boom Threatens Colombo’s Ecosystems

A new report by the Centre for a Smart Future (CSF) warns that the commodification of nature in real estate is driving rapid ecological degradation and price surges in suburban Colombo. • Market Impact & Pricing Proximity to nature is driving property price increases of 30% to 40% annually in suburban corridors. 65% of Colombo District property listings now use nature-linked marketing language to attract buyers. Nature-adjacent properties command significant price premiums despite a lack of formal green certifications like LEED or GreenSL. • Sector & Regional Focus Rapid land-use conversion is most visible in Kaduwela, Malabe, and Thalawathugoda. The construction & real estate sector is shifting toward horizontal sprawl and gated communities, encroaching on critical wetlands and paddy fields. High-density developments often bypass Environmental Impact Assessments (EIAs) as regulations typically target only large-scale projects. • Governance & Risks Fragmented oversight: In areas like the Thalangama Environmental Protection Area, mandates are split across 8 different government agencies. Infrastructure-led urbanisation is causing ecological fragmentation and increasing flood risks. Displacement of long-term farming families is altering the social fabric of peri-urban regions. • Key Concern The UDA’s power to rezone land often overrides environmental protections, allowing for the reclamation of "low-yielding" paddy lands for commercial development.