Increase in land value

More investing in real estate:

Land prices in the Colombo city limit has increased by 20 percent and the same increase is seen in the outskirts of Colombo.

The land prices in rural areas have also seen an increase for residential and agricultural purposes, ETI Homes and Builders General Manager Ranjan Perera told Daily News Business. The lending rates reduced and interest earned on fixed deposits has dropped and people tend to invest in lands now. The land appreciation is higher than interest rates. There are many land plots on sale in districts such as Hambantota and Matara as a result of the Southern Development projects. HP