The fast growth of smart technology has transformed the worldwide real estate industry, resulting in a major increase in the use of smart buildings as well as associated services. This study explores the primary factors impacting the adoption of smart building technologies and service preferences in the context of Sri Lanka, a country with an increasing curiosity about integrating smart solutions into its built environment. Many difficulties that the community face can be solved by smart building technology. For example, environmental contamination and resource depletion, such as water and fossil fuels. In Sri Lanka, smart building adoption is at a primitive stage. As a result, the purpose of this study is to assess user comprehension of smart building service preferences and adoption from a Sri Lankan perspective. The methodology combines a questionnaire survey to collect data from the community and a literature review to identify service preferences and factors influencing smart building adoption. A content analysis of the selected literature was performed to determine key factors and preferences. Twenty-three service preferences and four factors that influence smart building adoption were identified from the previous studies. According to the results, most of Sri Lankans are unfamiliar with smart building technologies and concepts. The most essential elements impacting smart building adoption are competency to utilize new technology, preference for smart building features, and user satisfaction. When developing the smart building concept in Sri Lanka, it is advised that people’s understanding of smart building technology is to be increased and that the most important service preferences be considered.