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Land prices rise 7.1-pct in Sri Lanka’s capital district Colombo

ECONOMYNEXT – Land values in Sri Lanka’s capital Colombo had grown 7.1 percent in the first half of 2020 from a year earlier, while prices had gain 2.0 percent in first the six months, an index compiled by the central bank showed.

Industrial land had risen 7.2 percent in the first six months from a year earlier.

Residential and commercial land had risen 7.1 percent.

The index covers the areas of Colombo city running up to Moratuwa in the South and Kaduwela, Homagama, Padukka and Seethawaka towards the West.

The index is based on the prices of a perch of bare land obtained from the Government Valuation Department, the Central Bank said.

(Colombo/Aug26/2020)