Land value in the Colombo District increased substantially in the first half of the year 2022, the Central Bank of Sri Lanka (CBSL) said.
According to Statistics Department of the Central Bank, the Land Valuation Indicator (LVI) for the Colombo District climbed to 186.9 with a year-on-year change of 17.0 percent during the first half of the year.
This annual increase (17.0) and the semi-annual increase (4.6 percent) of the Land Valuation Indicator, showed a deceleration of the increasing trend observed in the second half of 2021.
All sub-indicators of the Land Valuation Indicator, namely Residential LVI, Commercial LVI and Industrial LVI contributed to the overall increase.
Industrial LVI recorded the highest annual increase of 20.6 percent followed by Commercial LVI and Residential LVI.