Sri Lanka has been ranked the second most unaffordable housing market in Asia, according to a new report by The Economist.
The report highlighted that cities across Asia are facing a growing shortage of affordable housing as rapid urbanisation pushes millions of people into major urban centres.
Countries such as India, Indonesia, and the Philippines are experiencing rapid city expansion, but the supply of reasonably priced homes has failed to keep pace with demand.
The Economist warned that the lack of affordable housing is becoming one of the biggest challenges facing Asian cities, with serious impacts on productivity, quality of life, and overall economic growth.
The report further noted that without significant investment in affordable housing, many of Asia’s major cities risk worsening congestion, rising inequality, and deteriorating living conditions in the years ahead.
