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Thursday, 09 November 2017 - 18:03
Land Price Index risen by 12.6%
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In order to monitor the developments in the real estate sector, Central Bank of Sri Lanka has been compiling and analyzing several indicators.
 
The bi-annual Land Price Index which is compiled covering the Colombo District since 1998 is one of the indicators of this nature.
 
In the compilation process of LPI, CBSL uses the land price data collected by the Valuation Department of Sri Lanka covering around 50 centers of five District Secretariat (DS) divisions in the Colombo District.
 
In view of the diverse nature of the land use and to maintain homogeneity, three indices for residential, commercial and industrial lands are computed separately. The overall LPI is computed by taking the average of these three sub-indices.
 
On year on year basis for the period ending June 2017, LPI recorded a 12.6 percent increase, continuing the recent trend in land price movements in the Colombo district.
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