Government vows to intervene amid sky-high Colombo property prices
The Director General of the Urban Development Authority in Colombo, Sri Lanka, has commented on the phenomenon of middle class people being driven out of the city due to the high property prices, saying that "the upper class is bringing in high prices. There’s a problem here”. He went on to say that the government will intervene in the real estate market, housing finance market and in private investments to create an enabling environment for middle class housing. The scale of the problem is highlighted by property agency JLL, which revealed that only the top 20% of income earners could currently afford a home in any part of the city, while even the top 10% cannot afford a two-bedroom house in the middle of the city. 

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