February 23, Colombo (LNW): The Land Valuation Indicator (LVI) for the Colombo District has indicated a year-on-year slowdown, recording a growth rate of 7.1 percent during the second half of 2023. The Central Bank of Sri Lanka (CBSL) reports that this slowdown is evident across all sub-indicators of LVI, including Residential, Commercial, and Industrial LVIs, which recorded annual increases of 8.8 percent, 6.7 percent, and 5.9 percent, respectively.
On a semi-annual basis, the LVI showed a deceleration, registering a moderate growth of 2.1 percent during the second half of 2023 compared to the first half of the same year. The CBSL attributes this deceleration to the slower increase in Industrial LVI, followed by Commercial and Residential LVIs, compared to the first half of 2023.
