Colombo district land values up 15%

Sri Lanka
By Editor_1

COLOMBO – Land Values in Sri Lanka’s Colombo district went up 15% in the first half of 2023 from a year ago, according to an index compiled by the central bank.

Residential land values increased 17.2%, commercial land went up 15.1% and industrial 13.5% according to the Land Values Index (LVI).

On a semi-annual basis the index had gone up 4.9%.

“The highest contribution to this increase was from Residential LVI followed by Commercial and Industrial LVIs,” the statement said.

“However, a deceleration of the semi-annual growth of LVI could be observed during the first half of 2023.”

The LVI index covers 13 divisional secretarial divisions in the Colombo District from 2017.

The three sub-indicators for residential, commercial and industrial lands are computed separately for each DS division using the average per perch bare land price in the area. The LVI is the simple average of these three sub-indicators.

-economynext.com

 

Editor_1
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