manusath-derana

Colombo District Land Price Index up 13.6% in 1H 2019

September, 3, 2019

Land Price Index (LPI)  for Colombo district compiled by the Central Bank of Sri Lanka, reached 132.2 during the first half of 2019, recording an increase of 13.6% compared to the first half of 2018.

The three sub-indices of LPI, namely Residential, Commercial and Industrial have contributed to this increase.

Industrial LPI recorded the highest year-on-year increase of 14.9% while the Commercial LPI and Residential LPI increased by 13.2% and 12.8%, respectively.

Meanwhile, the LPI increased by 5.1% from 2nd half of 2018 to 1st half of 2019.

The Statistics Department (STD) of the Central Bank of Sri Lanka compiles LPI since 1998 covering 5 Divisional Secretariat (DS) divisions in the Colombo District.

With the recent developments in the real estate sector, STD expanded the geographical coverage of LPI to cover all DS divisions in the Colombo and revised its base period to 1st half of 2017.

Statistics Department (STD) of the Central Bank said per perch bare land prices were collected from the Government Valuation Department on half yearly basis.