Post-war Sri Lanka has seen a phenomenal increase in demand for medium to high-end condominium properties. 
In order to cater to this increasing demand, a large number of luxury and semi luxury condominium projects have been coming up to the real estate market, creating unparallel investment opportunities for individuals who dream of owning such a property.
This demand is being propelled by the desire of individuals who seek to either to use them as a luxurious residence in a convenient location or simply as an investment which could be sold in the future realizing a high capital gain.
However in the current context there are many interested potential buyers who are unable to realize their condominium dream due to non availability of a suitable financial solution. Understanding this vacuum in the market Pan Asia Bank has come with a range of innovative financial solutions to enable customers to realize their condominium dream regardless of their purchasing intention.

An investment
Pan Asia Bank Condominium Investment loan is the ideal solution for customers who are looking to invest in and benefit from the rapidly appreciating condominium market. It is a term loan that can be obtained to purchase a property during its development stage or a completed condominium apartment from a list of well established property developers acceptable to the Bank. 
Under this scheme an investor can borrow up to 75 percent of the purchase price stated in the sales agreement for under construction condominium apartments and 75 percent of the actual purchase price or 75 percent of the Forced Sale Value (FSV) of the property with a maximum loan value as high as Rs.50 million. The Bank will provide 5 years of grace period to repay the capital enabling customers to service only the monthly interest. Customers can repay the capital as a bullet payment within 5 years at by selling the condominium.  The bank also allows customers to make capital payments during the period without making any additional fee to reduce the loan quantum. 

For residential purposes
Pan Asia Bank’s flagship housing loan scheme, “Nivasa” has been further enhanced to cater to the increasing demand for condominium apartments for residential purposes. 
Accordingly “Nivasa” housing loan customers can obtain loan facilities with a repayment period of up to 25 years and up to 75 percent of the actual purchase price with a maximum loan value of Rs25mn. The upper limit applicable to the loan quantum may be waived in instances where the customer possesses additional repayment capacity.  
In order make the experience of purchasing a condominium for further rewarding for customers, the bank has tied up with a list of well reputed property developers offering speedy service for their customers. 

Income limitations 
In order to enable customers who are constrained by their current income limitations which prevent them from going for the property of their dream Pan Asia Bank’s newly introduced “Nivasa-Step Up” housing loan scheme provides the ideal solution.
This unique loan scheme is offered with a flexible repayment option enabling professionals and permanent employed customers to repay the loan with lower installments initially and increase the installments gradually as their income increases. Since the installments are comparatively low during the initial stages it enhances a customer’s ability to go for a higher loan quantum making their property dream a reality. This option can even be used as a second housing loan for investment purpose.  
Under this scheme, loans can be obtained up to Rs 15 million with a repayment period of 20 years with the option of customer paying lower installments initially. It also allows customers to choose the percentage increase in installment gradually as their income increases.  The upper limit applicable to the loan quantum may be waived in instances where the customer possesses additional repayment capacity.
The Bank has tied-up with following property developers for condominium loans; Havelock City Apartments by Overseas Reality (Ceylon) PLC, Fairway Holdings (Pvt) Ltd, Prime Lands (Pvt) Ltd/Prime Residencies, Blue Mountain Properties ( Private ) Limited, Home Lands Skyline (Private) Limited, “Platinum 1 “ by The Kingsbury , Colombo, Trillium Property Management & Services (Pvt) Ltd, Expo Property Developers, Mulberry Residence by Steradian Capital Investments (Pvt) Ltd, Suncity Property Developers, Blue Ocean group of companies, Millennium Housing Developers PLC and “ALTAIR”  by Indocean Developers (Pvt) Ltd.