Cost of living in Colombo
Colombo, the bustling capital of Sri Lanka, is a vibrant city known for its rich culture and economic significance. Understanding the cost of living in Colombo is crucial for both residents and newcomers, as it provides insight into the financial requirements of living in this dynamic city.
This guide offers a detailed breakdown of various expenses, including dining, groceries, transportation, housing, and utilities, to help you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $3.43 on average, with a range between $1.72 and $8.59.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $25.76, with prices ranging from $17.17 to $68.68.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $7.56, with a range between $6.53 and $10.3.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.41 to $3.43, imported beer $2.06 to $6.87, cappuccino $1.55 to $4.12, and Coke/Pepsi $0.52 to $1.72.
Grocery Prices
- Milk - Milk is priced between $1.55 and $1.89 per liter, averaging $1.74.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $0.48 and $1.37, with an average price of $0.57.
- Eggs (Dozen) - A dozen eggs range from $1.34 to $2.68, averaging $2.24.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.72 to $10.3 per kg, while oranges range from $2.06 to $10.3 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.62 and $1.55 per kg, and lettuce costs $0.34 to $2.06 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $0.13 and $0.34, with a monthly pass priced between $3.43 and $13.74.
- Fuel (Gasoline) - Gasoline is priced between $1.13 and $1.46 per liter.
- Taxi Fares - Taxi fares start at $0.34, with a cost of $0.29 to $0.69 per km and $0.34 to $1.03 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $171.71 to $515.13, averaging $300.78.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $103.02 to $291.91, averaging $182.01.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $515.13 to $1545.4, averaging $974.17.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $171.71 to $618.16, averaging $414.34.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $1293.8 to $2772.42, averaging $2112.8.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $686.84 to $3090.8, averaging $1758.13.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $34.34 and $85.86, averaging $57.95.
- Internet - Internet services range from $7.73 to $51.51, with an average cost of $16.57.
Cost of Living Rankings
Colombo ranks 1st on the Cost of Living rankings in Sri Lanka. The cost of living indices for Sri Lanka are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Sri Lanka, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Colombo offers a relatively affordable cost of living compared to many global cities, with low prices for dining and public transportation.
Housing costs vary significantly depending on location, with city centre apartments being more expensive than those outside the centre.
Grocery prices are generally low, making it economical for residents to purchase local produce and staples.
Conclusion
In conclusion, Colombo presents a cost-effective living environment, especially for those who can adapt to local dining and transportation options.
While housing in the city centre can be costly, options outside the centre provide more affordable alternatives.
Overall, Colombo's cost of living is manageable, making it an attractive destination for both expatriates and locals seeking a vibrant urban lifestyle.