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Message: <blockquote data-quote="ibnanv" data-source="post: 22346188" data-attributes="member: 218596">Oct 11, 2017 (LBO) – Land values in Sri Lanka’s financial capital  Colombo are growing at a remarkable rate while overall land prices in  the country have also shown an accelerated growth within the last year, a  recent study has found.According to the National House Price Index maintained by  LankaPropertyWeb, average land prices in Colombo has increased by 36  percent within the last year alone, making it the biggest increase in  the real estate sector, when compared against house and apartment  prices. A study by Candor Group which compared all investment options,  including share market, savings, bonds and property has also found that  lands in Colombo remained the best performing asset class. Colombo’s land prices heat map shows that Colombo 1, 3 and 7 remains  the most expensive, while 9, 13, 14 and 15 are the least expensive. Just to highlight how expensive the Fort area is, a recent ad on  LankaPropertyWeb for a land near President’s House was priced at 30  million per perch. Buying the freehold of lands in the country is currently limited to  residents, while foreign individuals can lease land on a 99-year lease. With the Port city adding 269 hectares of land in to Colombo and  sales expected to start by 2018, it will be interesting to see at what  prices the lands will be sold at. While it is much cheaper to buy an apartment than to buy land and  build a house in Colombo and on the outskirts, owning lands remains the  best long-term investment due to its double-digit growth in the last few  years.<img src="http://www.lankabusinessonline.com/wp-content/uploads/2017/10/land-prices.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></blockquote>

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