Published
11 hours agoon
Sri Lanka has been ranked the second in the world’s most unaffordable housing markets as per a report published by ‘The Economist’.
According to the report, Cities in developing countries such as India, Indonesia and the Philippines are gaining hundreds of millions of people.
“This urbanisation is only getting started. In South Asia, for example, barely 35% of the population is urban, compared with 80% in North America,” the report said.
“Yet problems in Asia’s great metropolises are mounting. The likes of Delhi, Jakarta and Manila suffer from awful pollution, traffic and crime. The greatest challenge is a shortage of decent and affordable housing. Fixing that would improve millions of lives. It would also boost economies by making city-dwellers more productive.