Overall land prices in the Colombo district has gone up during the first half of this year although the rate of increase has come down marginally compared to the second half of last year.
The Central Bank says land Valuation Indicator (LVI) for Colombo District increased to 186.9 with a year-on-year change of 17.0 per cent during the first half of 2022.
However the CB also says that this annual increase (17.0) and the semi-annual increase (4.6 per cent) of LVI, showed a deceleration of the increasing trend observed in the second half of 2021.
All sub-indicators of LVI, namely Residential LVI, Commercial LVI and Industrial LVI contributed to the overall increase. Industrial LVI recorded the highest annual increase of 20.6 per cent, followed by Commercial LVI and Residential LVI.
The Land Price Index (LPI) was compiled from 1998 to 2008 on an annual basis and from 2009 to 2017 and on a semi-annual basis, covering 5 DS divisions in the Colombo District.
Subsequently, from 2017 onwards, its geographical coverage was enhanced to represent all 13 DS divisions in the Colombo District and hence it was rebased considering 1st half of 2017 as the base period. From 2020 onwards LPI was renamed as Land Valuation Indicator (LVI) and continued to be released on a semi-annual basis.
Movements of LVI (2017 H1 = 100)
Subscribe to our newsletter to get notification about new updates, information, etc..
