Land Valuation Indicator (LVI) for the Colombo District has indicated a slowdown on a year-on-year basis, recording a growth rate of 7.1 per cent during the second half of 2023.
According to the Central Bank of Sri Lanka (CBSL), this slowdown could be observed in all sub-indicators of LVI, namely Residential, Commercial and Industrial LVIs which recorded annual increases of 8.8 per cent, 6.7 per cent and 5.9 per cent, respectively.
LVI indicated a deceleration on a semi-annual basis as well, registering a moderate growth of 2.1 per cent during the second half of 2023, compared to the first half of 2023.
The CBSL further stated that this deceleration was largely attributable to the slower increase in Industrial LVI followed by Commercial and Residential LVIs compared to the first half of 2023.
Full report : https://shorturl.at/nsuzZ (NewsWire)
