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Lower loan costs, higher incomes boost Sri Lanka housing market
http://www.economynext.com/Sri Lanka’s rising income levels and lower borrowing costs will help boost the residential housing sector, seen as the next driver of the construction industry, a new research report said.
The residential housing market is set to grow at a compounded average growth rate of 8.5% over the next five years, said Kanishka Perera, Head of Research of brokerage Asia Securities.
“We believe the residential sector will be the next driver of the construction industry,” he told a forum where the findings of their report ‘Sri Lanka Construction Sector: Transitioning from Infrastructure to Residential’ were presented.
Lower borrowing costs were driving housing affordability with interest on home loans falling to 9% now from 17% in 2007 although total building costs have increased along with loan amounts.
Market Repercussion - This is a positive outlook for Tile sector and Construction sector which is in bearish sentiments. I personally feel these sectors would record impressive results in this quarter and coming quarters. Specially Tile sector companies are trailing well below the NAV.
Happy Investments
