Nov 10, 2017 (LBO) – Sri Lanka’s Central Bank says that on yearly basis Land Price Index for the period ending June 2017 has increased 12.6 percent, continuing the recent trend in land price movements in the Colombo district.
All three sub-indices of the index (Residential 11.9%, Commercial 11.6% and Industrial 14.6%) have contributed to this increase.
In order to monitor the developments in the real estate sector, Central Bank has been compiling and analyzing several indicators.
The bi-annual Land Price Index (LPI) which is compiled covering the Colombo District since 1998 is one of the indicators of this nature.
In the compilation process of LPI, CBSL uses the land price data collected by the Valuation Department covering around 50 centers of five District Secretariat divisions1 in the Colombo District.
Colombo, Dehiwala, Homagama, Kaduwela and Kesbewa are the five DS divisions considered in the LPI.