Former UNP Deputy Leader MP Ravi Karunanayake has said that the high cost of building materials in the country, driven by market monopolies, is a major factor contributing to Colombo being one of the most expensive cities in the world to buy a house.
Speaking at a media briefing, the MP pointed out that the high prices of construction materials directly increase the overall cost of building homes in the country.
He stressed that authorities should address this issue and take steps to break monopolies in the building materials market.
Karunanayake also highlighted that the cost of building a house in Sri Lanka is significantly higher compared to other countries in the region, such as India, China, and Malaysia.
