The Colombo land price index has soared by 10.4% in December 2017 against the year 2016, the Central Bank said.
The announcement by the Central Bank of Sri Lanka on the "Land Price Index - Second Half of 2017" has led to the increase in the three indexes, namely the Residential Land Price Index, Commercial Land Price Index and Industrial Land Price Index which in turn has caused the increase of the Land Price Index .
The Central Bank analyzes the prices with the objective of promoting real estate and has been compiling the land price index from the year 1998 covering the Colombo District.
The relevant calculations are carried out using the prices of 50 divisional secretariats in the Colombo District administered by the Department of Valuation.
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