斯里兰卡蓬勃发展的公寓市场中的隐患：
购房者须知
预估阅读时间：8分钟
目录
一、引言：繁荣背后的风险
二、三大风险陷阱
三、斯里兰卡为何频发此类问题？
四、购房者应如何自我保护？
五、结语
一、引言：繁荣背后的风险
Introduction: Booming Market with Dark Underside
斯里兰卡的房地产行业，尤其是在科伦坡地区，在大量中国投资的推动下，豪华公寓项目呈爆发式增长。据统计，到2026年，科伦坡预计将新增8,000多套住宅单位，目前该市在建优质公寓总量已超过42,000套，市场异常火爆。开发商通常通过注入资金、预售单元和抵押土地三种方式来融资。然而，这种模式也潜藏着严重风险。一旦开发商在项目推进过程中出现问题，预售购房者的投资和产权可能陷入僵局。
预售融资日益普遍，同时风险也随之上升。购房者通常要提前付款，却缺乏托管机制或法律保障；一旦开发商违约，他们就极为脆弱。此外，开发商还频繁将项目用地抵押贷款，如果贷款违约，银行可通过“直执执行”（parate execution）迅速进行资产回收，可能收回土地，甚至侵犯购房者已交付的公寓权益。
The real estate business in Sri Lanka has witnessed a proliferation of luxury apartment developments, especially in Colombo, propelled also by significant Chinese investment. With over 8,000 new residential units are expected in Colombo by 2026, adding to a total of more than 42,000 premium apartments in development across the city, the Sri Lankan real estate market has been booming. Developers of these apartments generally finance these projects by injected capital funds, preselling units, and mortgaging the land; however, buyers often encounter unforeseen hazards. Thus, should a developer fail during a project, presale purchasers’ investment and title ownership will be in a state of limbo.
Financing through presales is increasingly common and poses greater risks, as buyers pay upfront in trust without escrow or legal safeguards in Sri Lanka; if the developer defaults, they are left vulnerable. Moreover, developers frequently encumber the project land with mortgages. Should they default on the loan, banks may employ parate execution a rapid foreclosure process seizing the property and nullifying buyers’ claims, even on completed apartments.
二、三大风险陷阱
The Three Traps
1. 预售前土地已被抵押
如果项目用地在启动预售之前已设抵押，一旦开发商违约，银行可能执行抵押权优先于购房者合同，从而剥夺购房者的权益。
2. 预售后再行抵押
即使土地最初无负担，开发商也可能在预售后利用所得资金进行抵押融资。一旦违约，新抵押的权利就优先于购房者的合同权益，项目可能被迫停工或废弃。
此类事件曾在2019年发生于Ben Consortium项目中，当时开发商与51名购房者签订销售协议后，又对项目用地进行抵押，并最终违约。我们事务所介入，通过法院申请，成功停止了该土地的公开拍卖。
3. 未获得合规证书（COC）
即便开发商完成建筑工作，但若未获得“合格证书”（Certificate of Conformity，简称 COC），购房者将无法完成单位的产权登记。如果开发商在此期间资不抵债，购房者既无合法所有权，又陷入破产程序与产权纠纷。
This peril manifests in three primary scenarios. If the land is mortgaged before the commencement of presales, a developer's default may initiate foreclosure, so superseding the rights of buyers.
Secondly, even when the land is initially unencumbered, developers may subsequently secure mortgages consequent to pre-sale capital. If they subsequently default, the new mortgage claim supersedes the buyers' pre-sale rights, leading to foreclosure or project abandonment. This issue was highlighted in 2019 in the case of Ben Consortium where 51 occupants among others entered into a sales agreement with the developer, the developer then entered into a mortgage and defaulted thereof, then our chambers had to go to court in order to stop the public auction.
In the third scenario, a developer finalizes construction but neglects to secure the Certificate of Conformity (COC), which is a legal prerequisite for unit registration. In the absence of a Certificate of Conformity, purchasers are unable to acquire titles. If the developer falls insolvent during this interval, purchasers may find themselves occupying units without legal ownership and ensnared in insolvency processes and a consequent legal battle for title.
三、斯里兰卡为何频发此类问题？
Why These Risk Scenarios Occur in Sri Lanka？
这些风险持续存在，主要因法律和监管机制存在缺陷。《公寓所有权法》并未强制建立托管机制、购房者保护或买卖保险。同时，科伦坡市政厅和城市发展管理局（UDA）等机构，通常缺乏强制要求项目在交易前取得合规证书（COC）的权限。此外，汇率贬值和材料成本上涨等外部因素也迫使开发商采取高风险融资模式，而银行仍拥有广泛的“直执执行”权力。尽管此前已将“直执执行”程序暂缓至2024年12月，但其对借款人和购房者的影响仍然深远。
These situations continue to exist because of expanding legal and regulatory deficiencies. The Apartment Ownership Act of Sri Lanka does not need escrow, buyer protection, or insurance. Simultaneously, organizations such as the Colombo Municipal Council and Urban Development Authority frequently lack the authority to enforce transparency or mandate the production of Certificates of Compliance prior to transactions. External constraints, like currency depreciation and escalating material costs, compel developers to adopt more precarious financing structures, while Sri Lankan banks maintain extensive authority to carry out parate foreclosures. A recent provisional delay of parate execution until December 2024 underscores the effects of this method on both borrowers and purchasers.
四、购房者应如何自我保护？
How Buyers Can Shield Themselves
斯里兰卡预售购房者应采取如下关键措施以保障自身利益：
1. 实地查阅土地登记簿
由于系统尚未全面数字化，建议委托代理人前往登记处实地查验，确认是否存在抵押或未取得COC等问题。
2. 提交阻止登记（Caveat）
根据《文件登记条例》，可在物业上提交Caveat，以确保若新增抵押等权利时，您将收到通知。
3. 要求托管安排
若开发商坚持使用抵押贷款，应要求开设独立托管账户，由第三方金融机构管理，确保资金仅用于项目建设，避免挪用。
此外，购房者还应在付款前确认已取得COC，调查开发商历史表现，将付款与第三方验收进度挂钩，并联合成立购房者联盟，以增强谈判能力并共享法律资源。
Sri Lankan presale buyers should implement numerous crucial procedures for their protection.
Initially, perform a physical land register search, Sri Lanka's system remains undigitized to identify any existing mortgages or Certificate of Conformity concerns.
Secondly, submit a caveat on the property to obtain notification if additional encumbrances such as a mortgage are registered.
Third, insist on escrow arrangements if the developer necessitates a mortgage, guaranteeing that money is allocated to development progress and not misappropriate. Purchasers must confirm the issuing of the Certificate of Compliance before remitting payments, scrutinize the developer's historical performance, synchronize payments with milestones validated by third parties, and establish buyer collectives to enhance bargaining power and share legal resources.
五、结语
Conclusion
虽然斯里兰卡的公寓市场前景诱人，但若缺乏托管机制、产权查验、Caveat 机制和 COC 执行等保障，预售购房者将承担巨大的财务和法律风险。希望本文能为购房者提供实用指引，并促进建立更完善的行业保护机制。
Sri Lanka's housing surge has appealing prospects yet harbors significant legal risks for purchasers. In the absence of safeguards such as escrow, title searches, caveats, and COC enforcement presale purchasers face significant financial and legal repercussions.
RitaLiu
Liu Xueqi, Practicing Lawyer, Beijing Deheng (Xiamen) Law Firm
Her main practice areas include cross-border investment, trade and shipping, mining, and international arbitration, covering New BRICS member states, African countries, and other regions. She is a Council Member of the China Law Society Sports Law Research Association, a Student of the Singapore International Arbitration Centre (SIAC), Secretary-General of the Foreign-related Legal Professional Committee of Deheng Xiamen, and holds the Qualification of Board Secretary issued by the Ministry of Human Resources and Social Security of China.
Editor | Lu Yiting
Reviewer | Liu Xueqi