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Land Valuation Indicator (LVI) Signals Year-on-Year Slowdown in Colombo District with 7.1% Growth in the Second Half of 2023

The Land Valuation Indicator (LVI) for Colombo District has revealed a notable deceleration on a year-on-year basis, demonstrating a growth rate of 7.1% during the second half of 2023.

This slowdown is evident across all sub-indicators of LVI, including Residential, Commercial, and Industrial LVIs, which reported annual increases of 8.8%, 6.7%, and 5.9%, respectively.

On a semi-annual basis, the LVI exhibited a deceleration, registering a moderate growth of 2.1% during the second half of 2023 compared to the first half of the same year.

This deceleration can be primarily attributed to the slower increase in Industrial LVI, followed by Commercial and Residential LVIs, as compared to the first half of 2023.

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