The growth in land values in the Colombo district fell below 10 percent for the first time in years, decelerating to 7.1 percent year-on-year (YoY) in the first half of the year from 10.8 percent recorded in the second  half of 2019, according to the Land Valuations Indicator (LVI) complied by the Central Bank (CB).

The indicator reached 141.6 points with an annual increase of 7.1 percent during the first half of the year backed by 7.2 percent YoY growth in industrial land values, 7.1 percent YoY growth in both residential and commercial land values in the period. 

The growth in the commercial and industrial land values has now almost come down to the growth levels of residential land prices.