Here are the most popular real-estate areas in and around Colombo, with a short note on why each is in demand and what kinds of buyers they suit:

1. Cinnamon Gardens (Colombo 7)

• Profile: Prestigious, leafy suburb with large colonial homes, upscale apartments, embassies, private schools and hospitals.
• Why popular: Quiet, central, high-end amenities and green spaces.
• Suits: Families, diplomats, high-net-worth buyers and long-term investors.

2. Kollupitiya (Colombo 3)

• Profile: Mixed commercial-residential area close to Galle Face and the seafront; many apartment towers, offices, restaurants and shopping.
• Why popular: Very central, excellent transport links, active nightlife and business services.
• Suits: Professionals, expats, investors targeting rentals.

3. Bambalapitiya (Colombo 4)

• Profile: Dense, well-served residential and commercial neighbourhood with many apartment blocks and schools.
• Why popular: Close to the city centre and seafront, strong rental demand from students/professionals.
• Suits: Buy-to-let investors, young professionals, small families.

4. Fort & Galle Face / Commercial Core

• Profile: Colombo’s business district with luxury apartments and serviced residences near corporate offices and the oceanfront promenade.
• Why popular: Premium location for executives and international companies; short stays and serviced apartments do well.
• Suits: Executives, short-term corporate rentals, investors in serviced accommodation.

5. Havelock Town

• Profile: Residential neighbourhood adjacent to Bambalapitiya and Cinnamon Gardens, with a mix of houses and modern apartments.
• Why popular: Convenient, family-friendly, good schools and parks.
• Suits: Families and professionals seeking a balance of quiet and accessibility.

6. Wellawatte

• Profile: Busy residential/commercial area popular with the Tamil community, many shops, apartment buildings and easy access to the motorway.
• Why popular: Affordable compared with central Colombo; strong rental market and good transport links.
• Suits: Mid-range buyers, investors seeking steady rental yields.

7. Borella & Narahenpita

• Profile: Inner suburbs with good hospitals, schools and transport; a mix of older houses and new apartments.
• Why popular: Centrally located and relatively affordable alternatives to Cinnamon Gardens.
• Suits: Families, middle-income buyers.

8. Nawala & Narahenpita fringe

• Profile: Low-rise residential suburb with cafes, boutiques, and small apartment projects; popular with young families.
• Why popular: Quieter residential feel but still close to the city.
• Suits: Young families, professionals.

9. Rajagiriya

• Profile: On the eastern fringe of Colombo; strong mix of commercial, offices and new apartment developments; close to junctions and highways.
• Why popular: Easy access to Outer Circular and A1 roads, growing office and retail presence.
• Suits: Professionals, commuters, investors.

10. Battaramulla & Pelawatte (administrative corridor)

• Profile: Location of many government offices; new residential projects and gated communities.
• Why popular: Good for government and corporate employees; quieter and more suburban.
• Suits: Families, government/corporate workers.

11. Mount Lavinia & Dehiwala (southern coastal suburbs)

• Profile: Coastal suburbs just south of Colombo with beachfront properties and a mix of apartments and houses.
• Why popular: Seafront living at lower cost than central Colombo; popular for holiday rentals.
• Suits: Buyers seeking coastal lifestyle, investors in holiday/short-term rentals.

12. Malabe & Kotte (outer suburbs)

• Profile: Growing tech/education hubs with many new developments; more affordable land and apartments.
• Why popular: New infrastructure, appeal to IT professionals and students.
• Suits: First-time buyers, renters working in tech/education zones.

Quick notes and practical tips

• Property types: Colombo market ranges from luxury colonial homes and high-rise apartments to mid-range units and rental-focused smaller apartments. New condo projects have been concentrated in Kollupitiya, Bambalapitiya and Rajagiriya.
• Prices and yields vary widely by street, building age and amenities — central and seafront locations command premium prices and lower rental yields, while inner suburbs often give better yields.
• If you’re buying or investing: verify title/permits, check the developer’s track record for new projects, and consider proximity to schools/transport if renting.
• For current prices, availability and recent trends it’s best to check live listings or consult local estate agents — market conditions and new projects change frequently.

If you want, I can:

• Give a shortlist of properties matching a budget and purpose (owner-occupier vs investor), or
• Pull recent listings/prices for 2–3 areas you care about.