Sri Lanka records 7% increase in land value in Colombo district
Daily FT: Land Valuation Indicator (LVI) for Colombo District recorded 236.8 during the second half of 2024, with a year-on-year increase of 7.7% its compiler, the Central Bank said.
It said all sub indicators of LVI, namely, Residential, Commercial, and Industrial LVIs contributed to this increase, recording annual increases of 9.9%, 9.4%, and 3.9%, respectively.
On a semi-annual basis, LVI and its sub indicators increased at a slower pace during the second half of 2024 compared to the values recorded in the first half of 2024. The highest increase was observed in the Residential LVI, followed by Commercial and Industrial LVIs.
OSL take:
Sri Lanka’s ongoing economic activities and the overall economic expansion is evident by the increase in land value in the country’s commercial capital – Colombo. With the country set on a path to become a hub in the South Asian region, this land value would receive a further impetus. The country’s geographical positioning in the Indian Ocean, the strong trade ties and the improving ease of doing business environment in the country have served to attract the attention of many foreign businesses/investors. The expansion in business/investment opportunities in key economic sectors in the country therefore presents many lucrative business ventures for foreign businesses/investors. Given the steadily increasing value of land in Colombo, foreign businesses/investors should consider investing in house and property in Sri Lanka since the continuously appreciating values would serve as a valuable asset that would also be an income source. Foreign businesses could also look at investments in land, house and property in Sri Lanka through partnerships or joint ventures with local businesses in order to engage in development work as well.
| Article Code : | VBS/AT/20250307/Z_1 |