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land price is going up sky high. there are people who live in rented apartments in colombo. do you think increasing population is the reason for this ? colombo is getting too much congested
NOT AT ALL look at Shanghai, Singapore Seoul Tokyo or HK
We just don't have enough apartments
Land value in the city should be in $ millions and in CMB value is there but what's lacking if affordable apartments due to high import taxes to protect local producers so an apartment which in Most developed Asia tagged as just normal are called luxury in SL it's not because it's luxury but because of the price due to taxes
SL still uses very old policies which are outdated. Stupid Bandaranaike era policies or JVP style economics doesn't work this day and age but unfortunately SL still tries to control prices of commodities which is a bit of a laugh because it's only found in failed states.
Best example is Vietnam, they have linked 20+ free trade agreements since joining WTO.
It's a manufacturing power house now why because of reforms where local manufacturers were allowed to complete with the rest but did not protect because by protecting you let them fail because innovation stops right then and there.
These are basic economics but very hard to put in place in a country like SL where majority believe having daily fuel adjustment is a BAD thing
We always be a poor third world country!