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Land prices in Sri Lanka’s Colombo district up 13.6-pct in 2019 first half

ECONOMYNEXT – Land prices in Sri Lanka’s Colombo district, where the capital is, rose over 13 percent in the first half of 2019 from a year ago, led by industrial properties with growth slowing down.

The Central Bank said its Land Price Index (LPI), compiled biannually covering the Colombo District, rose 13.6 per cent in the half-year ending June 2019, slowing from 17.9 percent in the second half of 2018.

The Land Price Index for the Colombo District reached 132.2 during the 1st half of 2019, a statement said.

“The three sub-indices of LPI, Residential, Commercial and Industrial have contributed to this increase.”
Industrial LPI recorded the highest year-on-year increase of 14.9 per cent while the Commercial LPI and Residential LPI increased by 13.2 per cent and 12.8 per cent, respectively, the statement said.

The LPI increased by 5.1 per cent from 2nd half of 2018 to 1st half of 2019
(COLOMBO, 03 September, 2019)