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Tracking Real Developments Across Real Estate
GURGAON, September 1, 2014: International property consultancy JLL India has released its latest research report ‘Sri Lanka – Scaling New Heights’. In this report, JLL analyses developments across the real estate spectrum in Sri Lanka, identifies the demand & supply triggers and outlines Sri Lankan real estate’s growth opportunities in the future.
Gagan Singh, CEO – Business (India) and Chairperson – Sri Lanka Operations says, “Since 2009, improved confidence in the Sri Lankan investment market has triggered an escalation in property values. Apart from the effect of infrastructure projects, increased migration into Colombo from the country’s rural areas and outside its borders and renewed appetite to own property are raising real estate values. There has also been a steady increase in land acquisition within the central and secondary submarkets, thanks to limited availability in the city. In fact, Colombo witnessed an average increase of 5% in land prices in the first half of 2014, while select locations within the central and secondary submarkets saw rapid growth in land prices at around 7-8% since the end of 2013.”
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09 September 2014