Land Valuation Indicator (LVI) for Colombo District indicated a slowdown on a year-on-year basis, recording a growth rate of 7.1 per cent during the second half of 2023. 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 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. 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 TEXT