Colombo’s luxury real estate market is booming, with two standout developments: Havelock City and Astoria, dominating the high-end apartment segment. But if you’re considering investing in one of these properties, how do they compare in terms of value, amenities, location, and long-term investment potential?
Let’s dive into a detailed, side-by-side comparison to help you make the right decision.
1. Overview of Havelock City & Astoria
Havelock City: A Mini-City Within Colombo
Developed by Overseas Realty (Ceylon) PLC, Havelock City is one of Colombo’s largest mixed-use developments. It features eight residential towers, a commercial complex, and Sri Lanka’s largest rooftop garden.
Key Features:
- Located in Colombo 05, offering a blend of convenience and exclusivity
- Massive 7-acre private garden, providing a serene escape from city life
- Luxury clubhouse with a pool, gym, and entertainment facilities
- A commercial mall under development, adding convenience for residents
- Spacious apartments with larger layouts compared to competitors
Astoria: A high-end urban living experience
Developed by AVIC International, Astoria Colombo is a four-tower luxury apartment complex in the prime area of Colombo 03 (Kollupitiya). It focuses on modern, high-rise living with top-tier amenities.
Key Features:
- Prime location in Colombo 03, ideal for business and lifestyle conveniences
- Premium interiors with imported fittings and contemporary designs
- High-end shopping mall and dining areas within the complex
- Smart home features in selected apartments
- Strong rental appeal, particularly among expatriates and business professionals
2. Location Comparison
Havelock City – Colombo 05
Colombo 05 is a residential hub known for its quiet, family-friendly atmosphere. It provides easy access to schools, hospitals, and recreational centers.
Pros:
- Less crowded compared to central Colombo
- Close to international schools and hospitals
- Future commercial complex adds convenience
Cons:
- Slightly farther from business hubs (Fort, World Trade Center)
- Can experience traffic congestion on main roads
Astoria – Colombo 03
Colombo 03 is at the heart of Colombo, offering direct access to major business districts, shopping malls, and nightlife.
Pros:
- Central location with easy access to business districts
- Close to luxury hotels, shopping centers, and fine-dining restaurants
- Higher rental demand due to prime location
Cons:
- Higher property prices due to premium location
- More urban noise and congestion compared to Havelock City
3. Price Comparison: Which One is More Affordable?
| Feature | Havelock City | Astoria |
| Price Per Sq. Ft. | $180 – $250 | $250 – $400 |
| Apartment Size | 1200 – 2500 Sq. Ft | 900 – 2000 Sq. Ft |
| Resale Value Growth (past 5 years) | 15-20% | 20-25% |
| Rental Yield | 5-6% | 6-8% |
Verdict: If you’re looking for a more affordable option with larger living spaces, Havelock City is the better choice. But if you’re targeting high rental returns and prime real estate, Astoria offers stronger investment potential.
4. Amenities & Facilities: Who Wins?
Havelock City: What’s on Offer?
- 7-acre rooftop garden (largest private garden in Sri Lanka)
- State-of-art clubhouse with gym, pool, and banquet halls
- Tennis courts and jogging tracks
- Upcoming shopping mall & commercial hub
Astoria: High-End Urban Living
- Infinity pool with panoramic city views
- Exclusive spa & wellness center
- Fully-equipped modern gym
- Premium shopping mall within the complex
Verdict: Havelock City offers more green spaces and recreational facilities, making it ideal for families. Astoria, on the other hand, is designed for urban luxury and convenience, appealing to young professionals and business executives.
5. Investment Potential: Which One Offers Better ROI?
Havelock City Investment Insights
- Steady appreciation due to future mall development
- Growing demand from families and long-term residents
- More affordable entry point compared to Astoria
Astoria Investment Insights
- High rental demand from expats and professionals
- Prime location ensures faster resale
- Luxury branding attracts high-net-worth buyers
Verdict: If you’re looking for long-term appreciation and affordability, go for Havelock City. If rental income and high-end living appeal are priorities, Astoria is the stronger choice.
Conclusion
Choose Havelock City if:
- You prefer larger apartments with family-friendly surroundings
- You want green spaces and recreational facilities
- You are investing for long-term appreciation
Choose Astoria if:
- You want a central location close to business hubs
- You are targeting high rental income from expats
- You prefer modern luxury amenities and urban living
Both developments offer unique advantages—your choice depends on whether you prioritize space, affordability, and greenery (Havelock City) or prime location, rental demand, and luxury (Astoria).
FAQs
Which project offers better rental income – Havelock City or Astoria?
Astoria has higher rental yields (6-8%) due to its prime Colombo 03 location, making it a better option for rental investors.
Is Havelock City’s upcoming mall a game-changer?
Yes! The new commercial complex will add convenience and increase property demand in the area.
Which has better resale value growth?
Astoria has shown slightly higher appreciation rates (20-25%) in the past five years, but Havelock City offers more affordable entry points.
Which development is more suitable for families?
Havelock City is better for families due to its green spaces, larger apartments, and quieter surroundings.
Is it a good time to invest in Colombo luxury apartments?
Yes, with Sri Lanka’s economy stabilizing and infrastructure projects expanding, Colombo’s real estate market is poised for strong growth.