Land prices up 25 % in Colombo, suburbs

Land prices in and around Colombo have seen a near 25 per cent rise over the past few months and after the November budget, industry analysts say. With the low interest rates that prevailed during the year followed by currency depreciation, there was a natural increase in asset prices which was supplemented, according to them. “This was what was seen during the past 18 months and there was a high dmand for land. Colombo high end residential property has experienced a boom during this time,” an analyst added, noting that Colombo land prices have increased by about 25 per cent.

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(Source: Sunday Times)